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2007 News Releases

For Immediate Release

May 14, 2007

John Hancock Expands Lifestyle Portfolios

New strategies added from Dimensional Fund Advisors, Wellington Management, and MFC Global Investment Management

Boston– John Hancock today announced that it has added three new strategies to its popular target-risk Lifestyle portfolios, effective May 1. The John Hancock Lifestyle Portfolios are a series of five asset allocation fund of funds that provide investors with a choice of varying degrees of investment risk, from aggressive to conservative.

A leader in asset allocation fund of funds since 1996, John Hancock presently has more than $50 billion of assets invested in Lifestyle Portfolios across its Mutual Fund, Retirement Plan Services, Variable Annuity, Variable Life and College Savings Plan businesses. John Hancock is the #1 provider of asset allocation fund of funds in the variable annuities business and the #2 provider of lifestyle funds in the 401(k) business. Within John Hancock Funds, the Lifestyle Portfolios represent the #2 selling category of mutual funds.[Sources: Plan Sponsor, Strategic Insight].“In our continual effort to strengthen and add capacity to select style boxes on our investment platform, we are pleased to add new strategies from such leading institutional investors as Dimensional Fund Advisors, Wellington Management, and MFC Global (U.S.),” said Bob Boyda, Senior Vice President with John Hancock Investment Management Services, which oversees investment activities in the Lifestyle Portfolios. “John Hancock remains focused on bringing premier asset management capabilities to the multi-managed platforms that underlie our investment products.”

The new strategies are:

Emerging Markets Value, subadvised by Dimensional Fund Advisors, Inc. This portfolio will be managed in a similar style to DFA Emerging Markets Value Fund. The addition of this fund will provide exposure to the emerging markets asset class. Within the John Hancock target-risk Lifestyle Portfolios, this fund is expected to provide further diversification and complement the Natural Resources portfolio.

Mid Cap Intersection,subadvised by Wellington Management Company. This portfolio will add capacity in the mid-cap blend style box and will complement the existing mid-cap funds offered in the John Hancock Lifestyle Portfolios. It blends two distinct investment approaches: quantitative analysis and fundamental analysis. The strategy is designed to combine the advantages of each approach, allowing the manager to stay consistent on style and results while being adaptive.

Small Cap Intrinsic Value,
subadvised by MFC Global Investment Management (U.S.). This portfolio will be managed in a similar style to the John Hancock Small Cap Intrinsic Value Fund1. The addition of this fund will create further capacity in the small cap blend style box and will complement the existing small cap funds with the John Hancock Lifestyle Portfolios. The fund’s strategy involves buying businesses trading below what management considers their intrinsic value, which are typically companies that possess high margins of safety and generate high returns with good management.

About John Hancock and Manulife Financial
John Hancock is a unit of Manulife Financial Corporation (the Company), a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as 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$426 billion (US$370 billion) as at March 31, 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.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, mutual funds, 401(k) plans, long term care insurance, college savings, and other forms of business insurance.

John Hancock carries the highest—“AAA”—financial strength rating from Standard & Poor’s Ratings Services.

1The John Hancock Small Cap Intrinsic Value Fund is a series of the John Hancock Trust. Shares of this Fund are not publicly available.

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Beth McGoldrick