Manulife Financial Announces Redemption of Subordinated Debentures

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    C$ unless otherwise stated               TSX/NYSE/PSE: MFC   SEHK :945
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TORONTO, Jan. 13 /CNW/ - The Manufacturers Life Insurance Company ("Manulife") today announced it has exercised its right to redeem, on February 16, 2011, all of the outstanding $550,000,000 principal amount of 6.24% Subordinated Debentures due February 16, 2016 (CUSIP No. 564835AB2) at par plus accrued and unpaid interest to the date fixed for redemption. Formal notice of redemption has been delivered to the registered holder of the Subordinated Debentures in accordance with the terms of the trust indenture made as of February 16, 2001.

The redemption is part of Manulife's ongoing capital management activities.

About Manulife Financial

Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients worldwide have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients around the world. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were $474 billion (US$460 billion) as at September 30, 2010. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

SOURCE Manulife Financial

For further information: Media inquiries: Anthony Wilson-Smith, 416-852-8899, anthony_wilson-smith@manulife.com; Investor Relations: Anthony Ostler, 416-926-5471, anthony_ostler@manulife.com

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