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2007 News Releases

For Immediate Release

November 21, 2007

Manulife Announces Redemption of Preferred Shares

Toronto – The Manufacturers Life Insurance Company (“Manulife”) today announced it has exercised its right to redeem, on December 31, 2007, all of the 3,420,905 outstanding 6.10% Non-Cumulative Class A, Series 6 Preferred Shares (CUSIP No. 564835502) at $26.00 per preferred share plus declared and unpaid dividends to the date fixed for redemption. Formal notice of redemption has been delivered to the registered holder of the preferred shares in accordance with the terms and conditions of those shares.

The redemption is part of Manulife’s ongoing management of its capital.

About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$399 billion (US$400.5 billion) as at September 30, 2007.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

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