Manulife Announces Redemption of Preferred Shares



    TSX/NYSE/PSE: MFC; SEHK: 0945

    TORONTO, Nov. 21 /CNW/ - The Manufacturers Life Insurance Company
("Manulife") today announced it has exercised its right to redeem, on December
31, 2007, all of the 3,420,905 outstanding 6.10% Non-Cumulative Class A,
Series 6 Preferred Shares (CUSIP No. 564835502) at $26.00 per preferred share
plus declared and unpaid dividends to the date fixed for redemption. Formal
notice of redemption has been delivered to the registered holder of the
preferred shares in accordance with the terms and conditions of those shares.
    The redemption is part of Manulife's ongoing management of its capital.

    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$399 billion
(US$400.5 billion) as at September 30, 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.





For further information:

For further information: Media inquiries: Patti Vernon, (416) 852-8248,
patti_vernon@manulife.com; Investor Relations: Amir Gorgi, 1-800-795-9767,
investor_relations@manulife.com


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