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2007 News Releases

For Immediate Release

February 22, 2007

Manulife Mutual Funds streamlines fund line up

Toronto - Manulife Mutual Funds (a division of Elliott & Page Limited) announced today a number of proposed changes to their family of mutual funds.

Subject to regulatory and securityholder approval, Manulife Mutual Funds has proposed to merge the following funds:

  • Elliott & Page Generation Wave Fund into Elliott & Page Canadian Equity Fund
  • MIX Trimark Select Canadian Class into MIX Canadian Equity Value Class
  • MIX SEAMARK Total Canadian Equity Class into MIX Canadian Large Cap Core Class

These changes will be subject to regulatory and securityholder approval at special meetings to be held on May 16, 2007. Prior to these meetings, a Management Information Circular and form of Proxy will be mailed to securityholders. If approved, these changes are expected to take place on or about June 1, 2007.

Manulife Mutual Funds will be capping the advisor, F and I series of the following funds to all new purchases effective April 1, 2007 and terminating these same series on October 19, 2007:

  • MIX Elliott & Page U.S. Mid-Cap Class
  • MIX SEAMARK Total U.S. Equity Class
  • MIX U.S. Large Cap Growth Class

“We are making these changes as part of our ongoing effort to streamline our family of investment funds. By merging smaller funds with similar mandates, Manulife Mutual Funds will be in a position to generate greater operating efficiencies, achieve greater economies of scale and concentrate resources to better serve the interests of investors,” said Doug Conick, Vice President, Investment Funds.

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$414 billion (US$355 billion) as at December 31, 2006.

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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Media contact:
Tom Nunn
Manulife Financial
519-594-8578
tom_nunn@manulife.com