Manulife Mutual Funds announces increase in distribution targets

    TORONTO, March 15 /CNW/ - Manulife Mutual Funds (a division of Elliott &
Page Limited) announced today an increase in the quarterly distributions
target from $0.075 to $0.10 per unit for the Elliott & Page Dividend Fund and
$0.055 to $0.060 per unit for the Elliott & Page Monthly High Income Fund.
Distributions may consist of income, capital gains and return of capital. This
change is effective as of the end of the first quarter in 2007.
    "As one of Canada's leading financial services firms, Manulife provides
its clients with access to high quality investment funds, managed by some of
the best people in the industry," said Jeff Ray, Assistant Vice President of
Manulife Mutual Funds Products. "In a changing regulatory environment, these
dividend increases will be welcome news to many of our investors and those who
are seeking tax-efficient sources of income."
    The Elliott & Page Dividend Fund invests primarily in a diversified
portfolio of dividend-paying Canadian common and preferred shares as well as
royalty trusts and real estate investment trusts. Since its inception in
August of 2003, investors in the Fund have benefited from solid performance
and consistent, tax-efficient income in the form of dividends.
    The Elliott & Page Monthly High Income Fund has a broader mandate. The
Fund invests primarily in a diversified portfolio of dividend paying Canadian
equities and Canadian fixed income securities as well as royalty trusts and
real estate investment trusts. Investors in the Fund have benefited from
superior risk-adjusted returns, top-quartile long-term performance and steady,
tax-efficient monthly income since the Fund's inception in September of 1997.
    Both funds are managed by Alan Wicks, Senior Portfolio Manager with MFC
Global Investment Management, who enjoys an established reputation as one of
Canada's top value managers.

    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$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

For further information:

For further information: Media Contact: Tom Nunn, Manulife Financial,
(519) 594-8578,

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