2009 News Releases

• Completes 9 New Transactions With State And Local Entities Across U.S.
• Total Investment Surpasses $600 Million
• Company Committed To Helping To Rebuild U.S. Infrastructure And Further Strengthen The Economic Recovery

 Boston – John Hancock Financial Services has expanded its participation in the Build America Bonds program, recently completing another nine transactions that will help state and local entities across the United States rebuild their infrastructure as well as further strengthening the economic recovery of the nation as a whole.
Since the program’s inception in April as part of The American Recovery And Reinvestment Act Of 2009, John Hancock has invested more than $600 million in transportation, utility and higher education projects as well as general obligation investments across the United States.

The company said it expects to continue making investments in capital projects through the program through the rest of 2009 and 2010, when the program is scheduled to end.

“We are firm supporters of the Build America Bonds program,” said Scott Hartz, Executive Vice President of John Hancock Bond and Corporate Finance Group. “We regard the program, which opened conventional corporate debt markets to state and local governments, as a win-win for all participants.”

Mr. Hartz said local communities and residents benefit from vital infrastructure projects, such as schools, roads and water plants being built or refurbished and they also benefit from the jobs these projects generate. Investors benefit from being able to secure a good return on capital from their investments. The federal government and the country as a whole will benefit as the Build America Bonds program provides another tool to help stimulate an economy battered by one of the worst recessions since the 1930s.

Traditionally, state and local governments have used tax-exempt bonds to provide capital to support infrastructure projects, but the recession sharply reduced their ability to finance new projects.

The Build America Bonds program created a new financing tool for state and local governments. The bonds, which allow a new direct federal payment subsidy, are taxable bonds issued by state and local governments and give these entities access to conventional fully taxable debt markets.

At the election of state and local governments, the U.S. Treasury Department will make a direct payment to the state or local governmental issuer for an amount equal to 35 percent of the interest payment on the Build America Bonds. As result of this federal subsidy payment, state and local governments have lower net borrowing costs and are able to reach more sources of borrowing than with more traditional tax exempt tax credit lines. For example, if a state or local government were to issue a Build America Bond with 10 percent taxable interest rate, the Treasury Department would make a payment directly to the government entity of 3.5 percent of interest, making the net borrowing cost 6.5 percent.

This feature will make Build America Bonds attractive to a broader group of investors, and therefore create a larger market than typically would invest in more traditional state and local tax exempt bonds, where interest rates, due to the federal tax exemption, have historically been about 20 percent lower than taxable interest rates. They should be attractive to investors without regard to their tax status or income bracket.

“Congress enacted the Build America Bonds program to broaden the market for municipal debt by providing more efficient subsidies and tax status,” Mr. Hartz said. “We think the program has been very successful and are pleased to participate in it and help rebuild America.”

About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, Manulife Financial Corporation 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) at June 30, 2009.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ 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, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.

PR 2009—55

- 30 -

Contact:
Brian Carmichael
Phone: (617) 663-4748
E-mail: bcarmichael@jhancock.com