Thursday, November 20, 2008

Manulife Financial and John Hancock Close Deal to Merge

Manulife Financial and John Hancock are extremely pleased to announce the merger of Manulife Financial Corporation, the parent company of The Manufacturers Life Insurance Company (U.S.A.), and John Hancock Financial Services, Inc., the parent company of, John Hancock Life Insurance Company, after receiving all necessary shareholder and regulatory approvals.

The merger combines two exceptionally strong companies into a single, integrated global market leader whose scale and capital base is expected to drive greater short- and long-term growth and shareholder value. They are now the second largest life insurance company in North America as measured by market capitalization (as of April 27, 2004). It is their vision to provide the very best financial protection and investment management products and services tailored to customers in every market where they do business.

In the U.S., they will be known as John Hancock. The John Hancock brand, one of the best-known brands in the U.S., will be their primary brand for products sold here. Where appropriate, certain Manulife products will continue to be marketed in the U.S. under their existing brand name.

John Hancock and Manulife complement each other in ways that build on the respective strengths of each company, as well as unlock new opportunities for earnings growth. Together, they have strong and leading market positions in all core business lines, a high-quality brand, a more diverse and competitive product line, and access to a highly diversified and comprehensive distribution network. They expect our combined financial ratings to be among the very highest in the industry as judged by the major rating agencies.

Commitment to Life Insurance

The new company is committed to maintaining a market leadership position. Many of the people and processes you have come to rely upon will remain the same. It is our goal to have no disruption of services to you. You will have access to dedicated employees experienced in developing competitive products, delivering excellent underwriting and national and local marketing support as well as providing the service required to earn your business. The completion of the merger will have no impact on your benefits, premiums, values or guarantees of current policies or contracts.

Starting today both the John Hancock and the Manulife Financial products, issued by the companies listed above, will be available to all distribution channels.

Should you need more information on the merger, please visit www.manulife.com, www.manulife.com/usinsurance, www.jhancock.com.