Manulife Mutual Funds appoints highly respected sub-advisor to lead Manulife Small Cap Value Fund



    TSX/NYSE/PSE: MFC; SEHK: 0945

    TORONTO, July 14 /CNW/ - Manulife Mutual Funds, a division of Elliott &
Page Limited, announced today that Foyston, Gordon & Payne Inc. will assume
sub-advisor responsibilities for the Manulife Small Cap Value Fund used in the
Manulife Simplicity Portfolios, effective August 26, 2008.
    "We are pleased to add Foyston, Gordon & Payne to the list of highly
regarded institutional managers that sub-advise Manulife Mutual Funds for use
in our asset allocation product," said Jeff Ray, Assistant Vice President,
Mutual Fund Products.
    Foyston, Gordon & Payne employs a bottom-up value discipline based on
internal fundamental research and valuation analysis. The firm's primary focus
is to select attractively priced companies with strong fundamentals, solid
business prospects, financial strength, and quality management. Foyston,
Gordon & Payne replaces Howson Tattersall Investment Counsel Limited as
sub-advisor on the Fund.
    "This change will provide Simplicity investors with access to this well
respected institutional investment manager," added Mr. Ray.

    About Foyston, Gordon & Payne
    -----------------------------
    Foyston, Gordon & Payne Inc. was founded in 1980 and is located in
Toronto, Ontario. The firm manages $13.4 billion (as at June 30, 2008) in
investment portfolios for corporate clients, pension funds, foundations,
endowments, group RRSP's, and individuals. The company is jointly owned by its
employees and Affiliated Managers Group.

    About Manulife Investments
    --------------------------
    Manulife Investments is the brand name describing certain Canadian
subsidiaries and operating divisions of Manulife Financial Corporation that
offer personal wealth management products and services in Canada. As one of
Canada's leading integrated financial services providers, Manulife Investments
offers a variety of products and services including segregated funds, mutual
funds, annuities and guaranteed investment contracts.

    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$400 billion
(US$389 billion) as at March 31, 2008.
    Manulife Financial is one of two publicly traded life insurance companies
in the world whose rated life insurance subsidiaries hold Standard & Poor's
Rating Services' highest "AAA" rating.
    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 contact: Tom Nunn, Manulife Financial,
(519) 594-8578, tom_nunn@manulife.com


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