2009 News Releases

Manila – Manulife China Bank Life Assurance Corporation, the bancassurance joint venture company of Manulife Philippines and China Banking Corporation (China Bank), recently reported that its variable life Peso Bond Fund is one of the best performing Peso bond funds in the local market based on 1-year return*. As of end-July 2009, the company’s variable life Enrich Peso Bond Fund posted 1-year return of 12.60%.

According to Naresh Krishnan, President and Chief Executive Officer of Manulife China Bank Life Assurance Corp., the company’s variable life peso bond fund is an attractive investment alternative for investors who are seeking highly competitive returns. “The Peso Bond Fund, along with other variable life funds being offered by Manulife China Bank Life also gives our policyowners flexibility in terms of making switches in their fund allocations as their risk and return objectives change. In addition, policyowners get added benefits with the funds’ built-in guaranteed protection features,” Krishnan said.

The company’s products are primarily designed to provide banking clients with additional investment options that could help them diversify their financial portfolio mix and take advantage of developments in the financial markets. According to Krishnan, “Manulife China Bank Life Assurance Corporation’s goal is to fully complement the existing suite of financial products and services offered by China Bank to help it become a one-stop shop financial services solutions provider for its existing as well as prospective customers.”

Manulife China Bank Life’s variable life funds are being managed by a local investment team that is part of a global network of interconnected financial professionals under MFC Global Investment Management, the asset management arm of Manulife Financial¹. “Rising fiscal risk is expected to remain as the focal point of the local bond market,” says Aira Gaspar, Vice President for Investments, Manulife China Bank Life Assurance Corp. “However, unjustified upward drifts in bond yields emanating from higher debt supply concerns could provide attractive entry levels, which could generate long-term value for our policyowners.”

The Peso Bond Fund seeks to achieve stable and long term growth by investing in Philippine Peso-denominated government securities, high-quality corporate debt securities and/or in pooled funds that invest in these securities and other liquid fixed income instruments.

A financial services subsidiary under the Manulife Philippines Group², Manulife China Bank Life Assurance Corporation products and services are made available thru the more than 200 China Bank branches nationwide.

About Manulife China Bank Life Assurance Corporation
Manulife China Bank Life Assurance Corporation is a strategic alliance between Manulife Philippines and China Bank, providing a wide range of innovative insurance products and services to China Bank customers. The aim is to ensure that every client receives the best possible solution to meet his or her individual financial and insurance needs.

Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corporation, the world's third largest and North America's largest life insurance company by market capitalization (as of July 31, 2009). Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 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$421 billion (US$362 billion) as at June 30, 2009.

China Bank was established in 1920, was listed on the Philippine Stock Exchange in 1965, became the first bank in Southeast Asia to process deposit accounts on-line in 1969 and the first Philippine bank to offer phone banking in 1988. China Bank provides a wide range of banking services through its more than 200 branches and over 200 ATMs nationwide. With close to nine decades of impassioned commitment and quality service to its clients, China Bank remains to be one of the most stable and profitable banks in the country.

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Important Information
The Investment Funds ("Funds") mentioned in this document are specific to variable life insurance contracts and are not considered mutual funds.

This document was produced by and the opinions expressed are those of the Manulife Philippines Group (“Manulife Philippines”, “Manulife Financial Plans” and “Manulife China Bank Life Assurance Corporation”) as of the date of writing and are subject to change. The information and/or analysis contained in this material have been compiled or arrived at from sources believed to be reliable but Manulife Philippines Group does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof. The information in this document may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. The information in this document including statements concerning financial market trends, are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. This material was prepared solely for informational purposes and does not constitute an offer or an invitation by or on behalf of Manulife Philippines Group to any person to buy or sell any security. This material should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any investment products or to adopt any investment strategy. Nothing in this material constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you.

The return on the investment in the Funds mentioned in this document depend on many factors that include interest and foreign exchange rate levels, both of which may fluctuate. There are also other factors that may cause a change in the value of the securities such as changes in the credit standing of the issuers, which cannot be guaranteed. Investment in the Funds is subject to risk and possible loss of principal. All investment risks, gains and losses, if any, shall be for the account of the variable life policyholder.

Past performance of the Funds is not necessarily indicative of future performance. Yields on investment in the Funds are not guaranteed.

FINANCIAL PRODUCTS OF MANULIFE CHINA BANK LIFE ASSURANCE CORPORATION ARE NOT INSURED BY THE PHILIPPINE DEPOSIT INSURANCE CORPORATION AND ARE NOT GUARANTEED BY CHINA BANKING CORPORATION.

Media Contact:
Lils Liwanag
Manulife Philippines Group
884-5416
lils_liwanag@manulife.com

*As of July 31, 2009.

¹ For more information about MFC Global Investment Management, the asset management division of Manulife Financial, please visit www.mfcglobal.com

²The Manulife Philippines Group is composed of financial services subsidiaries The Manufacturers Life Insurance Co. (Phils.), Inc. (“Manulife Philippines”); Manulife Financial Plans, Inc. (“MFP”); and Manulife China Bank Life Assurance Corporation.