BOSTON, July 9 /PRNewswire-FirstCall/ -- John Hancock is developing a rollover program for use by participants of the 401 (k) plans it provides. The program is expected to be launched in the fourth quarter of 2007, the company said today. The Retirement Income & Rollover Solutions (RIRS) business unit will make the program available to participants in 401(k) plans provided by John Hancock's Retirement Plan Services (RPS). Intended to offer a simple and effective process for rolling over an account from an employer-sponsored plan into a new retirement account, the program will focus on offering the firm's mutual funds, on the continuity resulting from staying with John Hancock, and on making the overall rollover experience simple and seamless for terminating plan participants.

"The program is particularly exciting for our plan advisors in that we will help them benefit from business beyond plan sales," said David Longfritz, Senior Vice President and General Manager RIRS. "Advisors will be able to focus on the higher net worth participants, while we will take care of the other participants who advisors may not be able to work with directly."

The new program will include strategic rollover communications, a licensed call center, and a dedicated web site. In addition, participants who are leaving their employer-sponsored plan will be able to choose from a carefully selected roster of John Hancock mutual funds and portfolios, with John Hancock's Lifestyle Portfolios being a key component. John Hancock manages more than $50 billion in its target-risk Lifestyle and target-date Lifecycle portfolios. Lifestyle and Lifecycle Portfolios comprise close to half of the funds under management in John Hancock's Retirement Plan Services.

"This initiative is a natural extension of our value proposition to plan sponsors, plan participants, TPAs and advisors," added Jim Brockelman, Executive Vice President, National Sales. "Service is a top priority for us. Putting such a program in place underscores the importance we place on making John Hancock an easy company to do business with."

RPS has long been a leader in the 401(k) market and has more than $48.4 billion in funds under management. According to the 2007 CFO Magazine 401(k) Buyers Guide, RPS is the #1 provider of plans among mutual funds, insurers and banks (based on number of 401(k) plans managed).

This week, Mr. Longfritz will be discussing innovation among insurers and their role in managing rollover assets at the 2007 IRA Rollover Summit in Cambridge, Massachusetts, hosted by Financial Research Associates on July 9th and 10th.

About John Hancock and Manulife Financial

John Hancock is a wholly-owned subsidiary 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 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$426 billion (US$370 billion) as at March 31, 2007.

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.

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, mutual funds, 401(k) plans, long-term care insurance, college savings and other forms of business insurance.

John Hancock carries the highest-"AAA"-financial strength rating from Standard & Poor's Ratings Services.

Group annuity contracts are issued by John Hancock Life Insurance Company (U.S.A.) (John Hancock USA). In New York, products are issued by John Hancock Life Insurance Company of New York (John Hancock New York). John Hancock. All rights reserved. GA06278881.