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2005 News Releases

For Immediate Release

September 15, 2005

Manulife selected as Employee Benefits provider for five new companies

To manage DPLK Pension Programs and Employee Severance Payment Programs 

Jakarta– PT. Asuransi Jiwa Manulife Indonesia (Manulife Indonesia) was officially selected as the employee benefits program provider for five large-size companies based in Jakarta. The five companies are: Hewlett Packard Indonesia (DPLK Program), PT TriPolyta Indonesia Tbk. (Severance Payment Program), PT UltraJaya Milk Industry & Trading Co. Tbk (Severance Payment Program), PT BlueScope Steel Indonesia and PT BlueScope Lysaght Indonesia (DPLK Program). Total participating employees in these programs will amount to approximately 1,600 people.

“Today’s signing of memorandums of understanding (MoUs) by these five organizations for employee benefits programs clearly demonstrate they are seriously committed to the long-term well-being of their employees,” said John Harrison, President Director, Manulife Indonesia, at the signing event today in Jakarta. “We look forward to determining the appropriate benefit solutions to best meet the needs of these employees and then from there, servicing our clients by providing educational forums, readily available expertise and superior customer service.”

Manulife Indonesia is known as an industry pioneer in the business of employee benefits programs, currently managing programs for more than 3,750 small to large-sized companies across the country. Various programs offered include DPLK Program ( Dana Pensiun Lembaga Keuangan /Financial Institution Pension Funds), GLH Program (Group Life & Health), and Employee Severance Payment Program (MPP Plus & MKS Plus).

“Taking care of our employees”
“As a company that recognizes and secures its employees’ well-being, PT BlueScope Steel Indonesia prepared this DPLK Pension Program to guarantee our employees’ and their families’ welfare in their old age. This program will further increase our employees’ motivation in their work” said Ficky Maurya, PT BlueScope Steel Indonesia President Director.

“We show such commitment by providing this DPLK Pension Program for all of our employees; we hope our cooperation with Manulife Financial will provide better benefits for our employees,” added Willius Suwandana, PT BlueScope Lysaght Indonesia President Director.

“We entrust our employee benefits program to market leader Manulife Indonesia in order to optimize our employees’ well-being come retirement,” said Aidil Subagyo, PT Hewlett Packard President Director.

“As one of the company’s ways to show its concern with its employees’ well-being, Tri Polyta has provided a pension program through Manulife’s DPLK Pension Program, and now the company has also set up a severance pay program for its employees,” said Iman Sucipto Umar, PT Tri Polyta Indonesia Tbk President Director. “This program prepares the company when its obligation to distribute severance pay arises, in a manner conforming to the applicable legislation. Through this program, the company has endeavored to have all its employees receive their rights as the company has guaranteed them through MPP Plus Program.”

“We realize the importance of employees’ well-being for the sake of our company’s development,” said Sabana, PT Ultrajaya Milk Industry & Trading Co. Tbk President Director. “Now, Ultrajaya has taken the severance payment program in order to assure our thousands of employees that they will receive their severance payments in the future. We do expect that savings in this severance payment program will help our company’s cash flow and push down the cost that company will have to spend in severance payments.”

Well adept at meeting the various requirements of all kinds of businesses and staff numbers, Manulife Indonesia today manages the employee benefits programs of more than 3,750 companies (2,895 companies have joined the Group Life Insurance and Health Program; 675 companies have joined the DPLK Program, 186 companies have joined the Severance Payment Program), with a total number of more than 450,000 employee participants.

“We will continue expanding our employee benefits business throughout the 36 cities where Manulife Indonesia operates,” added Mr. Harrison. “We understand that employers want to focus on making their businesses profitable and that quickly they are realizing it’s most productive to turn their employee benefits programs to third parties, like Manulife.”

Actively educating the market to promote employee benefits
Manulife Indonesia is aggressively continuing its efforts to develop its employee benefits business market share throughout Indonesia, via the 36 cities where it operates. Today’s agreements are part of its efforts to fulfill the needs for employee benefits program in various areas, such as: Medan, Jambi, Batam, Pontianak, Balikpapan, Surabaya, Semarang, Bandung, Makassar and Menado.

The efforts conducted by Manulife Indonesia to develop this market include educating the public and corporations on the need for employee benefits program. The program is not only useful for employees, but also for companies.

“The employee benefits program facility is essential for many companies within and outside Jakarta. The company can stay focused on doing their business, while their employee benefits programs can be entrusted to a third party, such as Manulife Indonesia,” said Cynthia Bondad, Vice President Corporate Distribution, Manulife Indonesia.

Through its distribution channel that spans 36 cities of Indonesia, from Aceh to Papua, from Menado to Bali, Manulife Indonesia is optimistic it will achieve significant business growth of its employee benefits program in 2005, from its DPLK Pension, Group Life & Health, as well as MPPPlus and MKSPlus programs.

About Manulife Indonesia
Established in 1985, Manulife Indonesia was chosen in 2003 as ‘Indonesia's Most Admired Company (IMAC)’ in the Insurance category by Frontier Marketing Research & Business Week magazine. In 2002, the Company was awarded the title of ‘Life Insurance Company of the Year’ in Asia by Asia Insurance Review, a respected insurance publication in Asia.

Manulife Indonesia offers the most comprehensive products and services in the Indonesian industry of life insurance, employee benefits and mutual funds. Headquartered in Jakarta, Manulife Indonesia operates through a network of 139 branch offices in 36 cities throughout the country, supported by 5,000 employees and full-time professional agents who serve more than 950,000 customers.

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$364 billion (US$297 billion) as at June 30, 2005.

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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For further information, please contact:

Syarifudin Yunus
Manager, Corporate Communications
PT. Asuransi Jiwa Manulife Indonesia
Tel: (62-21) 230-3224/8 Ext. 1188
Fax: (62-21) 391-1560
E-mail: syarifudin_yunus@manulife.com
Patrick Atkins
Agency Director
Manulife Indonesia
Telp. (021) 230 3224/8
E-mail : Patrick_Atkins@manulife.com