Study participants who selected their own investments tended to adopt risk

strategies at the extremes of spectrum, did not reallocate and rebalance

regularly and were insufficiently diversified

    BOSTON, Oct. 17 /PRNewswire-FirstCall/ -- A study(1) commissioned by
 John Hancock showed common investing behaviors amongst 401(k) participants
 that selected their own investments. As well, the study showed that a large
 majority of non-Lifestyle participants, 84.2%, would have fared better in a
 single risk-equivalent Lifestyle Portfolio than they fared by selecting
 their own investments. In the 10-year analysis (1997-2006), participants
 who had chosen to allocate all of their contributions to a single Lifestyle
 Portfolio earned, on average, 7.2% versus 5.3% for the non-Lifestyle
 participants. (For further information, please see John Hancock Press
 Release of September 2007.)(2)
     Several investing behaviors of non-Lifestyle participants were
 identified that may explain the difference in returns. Non-Lifestyle
 investing participants, typically, were:
     -- Insufficiently diversified: The average number of funds selected by
        non-Lifestyle participants was 3.9.
     -- Not reallocating and rebalancing: An analysis of fund selections by the
        non-Lifestyle participants indicated they tended to allocate a large
        share of their balances to popular funds at the time of their
        enrollment and made few changes afterwards.
     -- Adopting risk strategies at extremes of spectrum: The non-Lifestyle
        participants were more likely to adopt investment strategies at the
        extremes of the risk spectrum (conservative or aggressive) than were
        Lifestyle Participants.
     In contrast, John Hancock Lifestyle Portfolios are designed to provide
 diversification; professional portfolio managers reallocate and rebalance
 continuously; and participants' risk profile is arrived at through a short
 six-question risk test.
     "John Hancock's asset allocation funds are designed to help
 participants save successfully," said Ed Eng, Senior Vice President,
 Product Development. "Through these Portfolios, participants can avoid some
 of the common - and self-defeating - investing behaviors that the study
 identified. For John Hancock Lifestyle investors, the risk quiz is a quick
 and easy way to make sure a participant's investment corresponds to their
 risk profile," he said. "On average, our asset allocation funds have 16
 different classes of investments. This is a level of diversification that
 would be very difficult for most individual investors to achieve," he
 added.
     This is the first time in its five-year history that the study analyzed
 the investing behavior of the non-Lifestyle participants. The study, run by
 Burgess + Associates for John Hancock, has consistently shown that the non-
 Lifestyle participants as a group fare worse than the Lifestyle
 participants.
     JHRPS has seen its John Hancock Lifestyle Portfolios become a popular
 investment option in response to these and other concerns. They currently
 form almost half of funds under management.
     Lifestyle Portfolios are professionally managed portfolios that reflect
 a particular objective and risk strategy. John Hancock, one of the first
 companies to offer Lifestyle Portfolios, today is one of the largest
 providers of lifestyle portfolios in the country (Strategic Insight as of
 December 31, 2006). More than 90% of JHRPS plan sponsors now offer John
 Hancock Lifestyle Portfolios.
     1. The Burgess study was a commissioned study. This information is
 general in nature and is not intended to constitute legal or investment
 advice on any particular matter. Burgess + Associates and John USA are not
 affiliated.
     2. Outcomes of Participant Investment Strategies 1997-2006 -
 Assumptions: The Burgess study examined the performance of portfolios of
 200, 467 retirement plan participants from 2002-2006 for the 5 year study
 and 14,487 retirement plan participants from 1997-2006 for the 10 year
 study contributing to their employer's defined contribution plans through
 an ARA group annuity contract issued by John Hancock USA. The Lifestyle
 group represents those participants that invested only in a single
 Lifestyle Portfolio throughout the period. The Non-Lifestyle group
 represents those participants who chose their own portfolio mix throughout
 the period. These two groups were segmented based on their age or the level
 of investment risk inherent in the allocation strategies they selected. All
 participants selected met all of the following criteria: had an ending
 balance that was greater than zero; did not have a negative cash flow; did
 not maintain a loan. The average rates of return referred to in the study
 are the internal rates of return earned on the group's aggregated stream of
 cash flows, and does not necessarily represent the returns of any
 individual participant's actual investment results.
     A Lifestyle Portfolio ("Fund") is a "fund of funds" which invests in a
 number of underlying funds. The Fund's ability to achieve its investment
 objective will depend largely on the ability of the subadviser to select
 the appropriate mix of underlying funds and on the underlying funds'
 ability to meet their investment objectives. There can be no assurance that
 either a Fund or the underlying funds will achieve their investment
 objectives. Diversification does not ensure against loss. Past performance
 is no guarantee of future results. A Fund might not meet its objective.
     Current performance may be lower or higher than the performance data
 quoted. Investment returns and the value of a participant's account will
 fluctuate and may be worth more or less than the original cost. There is no
 guarantee that any investment strategy will achieve its objective
     Please call 1-877-346-8378 to obtain John Hancock USA group annuity
 investment option Fund Sheets for its sub-accounts and prospectuses for the
 sub-accounts' underlying mutual funds, which are available upon request.
 The prospectuses for the sub-accounts' underlying mutual funds contain
 complete details on investment objectives, risks, fees, charges and
 expenses as well as other information about the underlying mutual funds
 which should be carefully considered.
     About John Hancock and Lifestyle Portfolios
     John Hancock is one of the nation's leading providers of lifestyle
 portfolios, with $52.7 billion in Lifestyle Portfolio assets under
 management in its variable annuity, variable life, mutual funds and 401(k)
 products, as of June 30, 2007.
     About John Hancock Retirement Plan Services
     Among mutual fund, life insurance companies and banks, JHRPS is ranked
 as the #1 provider to 401(k)s based on number of 401(k) plans managed,
 according CFO Magazine. (CFO Magazine 401(k) Buyers Guide Study, published
 May 2007.)
     About John Hancock and Manulife Financial
     John Hancock is a unit of Manulife Financial Corporation (the Company),
 a leading Canadian-based financial services company 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$410 billion
 (US$386 billion) as at June 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 http://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 whole life, term
 life, variable life, and universal life insurance, as well as college
 savings products, fixed and variable annuities, long-term care insurance,
 mutual funds and various forms of business insurance.
     Insurance products are issued by the following John Hancock insurance
 companies: John Hancock Life Insurance Company, John Hancock Variable Life
 Insurance Company*, John Hancock Life Insurance Company (U.S.A.)* and John
 Hancock Life Insurance Company of New York.
     *Not licensed in New York
 
 

SOURCE John Hancock Retirement Plan Services