John Hancock USA to Distribute $398 Million to Participating U.S. Policyholders

BOSTON, June 30 /PRNewswire-FirstCall/ -- John Hancock Life Insurance Company (U.S.A.) (John Hancock USA) announced today that it will distribute an estimated $398 million to participating U.S. policyholders from July 1, 2005 through June 30, 2006. This is a 1.6% increase over the amount distributed the prior year.

Policyholders of participating policies understand that dividends are not guaranteed and that actual dividends depend on investment performance and other factors, such as mortality, persistency and expenses. Persistent low interest rates on fixed-income assets have created a challenging investment environment. As such, John Hancock USA is reducing the gross crediting rate in the dividend scale by 0.25%, effective September 1, 2005 through June 30, 2006. John Hancock USA (previously Manulife USA) last cut dividends by 0.25% in October of 2003.

"While this year it's necessary to reflect the weakened economy in the dividend scale, even with this reduction, our ability to offer stability in every economic climate demonstrates our commitment to providing long-term value to our policyholders," says Robert A. Cook, Executive Vice President, John Hancock Life Insurance.

About John Hancock and Manulife Financial

John Hancock is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and most of 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$350 billion (US$290 billion) as at March 31, 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 http://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 whole life, term life, variable life, and universal life insurance, as well as college savings products, fixed and variable annuities, long-term care insurance, mutual funds and various forms of business insurance.

Insurance products are issued by the following John Hancock insurance companies: John Hancock Life Insurance Company, John Hancock Variable Life Insurance Company*, John Hancock Life Insurance Company (U.S.A.)* and John Hancock Life Insurance Company of New York.

*Not licensed in New York