Correction to April 1, 2009 Release: John Hancock Tax-Advantaged Dividend Income...

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Tue Apr 7, 2009 1:20pm EDT

Correction to April 1, 2009 Release:  John Hancock Tax-Advantaged Dividend
Income Fund Declares Monthly Distribution

Previous Monthly Distribution Rate Was Incorrectly Stated as Quarterly. The
Fund Has Been, and Continues To Be, a Monthly Distributing Fund. Revised
Release Follows.

BOSTON, April 7 /PRNewswire-FirstCall/ -- As previously reported on April 1,
2009, John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) declared a
monthly distribution of $0.091 per share, a decrease of 35% from its previous
monthly distribution rate of $0.14.  The Fund's new distribution equates to an
annualized distribution rate of 14.88%, based on the Fund's closing market
price of $7.34 as of March 31, 2009.  The new distribution rate is payable
April 30, 2009 to shareholders of record on April 13, 2009 and with an ex-date
of April 9, 2009.

The distribution will be made from current income, supplemented by realized
long-term capital gains, to the extent permitted by law, realized short-term
capital gains and, to the extent necessary, return of capital.  The ultimate
composition of the distribution may vary because it may be materially impacted
by future realized capital gains or losses, and income from holdings. As
required under the Investment Company Act of 1940, the Fund will provide a
notice to shareholders at the time of payment of a distribution that may not
consist solely of net income.  Such notification will also be posted to the
Fund's website at www.jhfunds.com where it will be viewable under the "Funds &
Performance" tab, by clicking on "Closed-End Funds" and then "19(a)
Distribution Notices".  At this time, the Fund anticipates that the notice
accompanying the current distribution will include an estimate of return of
capital. The notice is for informational purposes only and should not be used
to prepare tax returns as the estimates indicated in the notice may differ
from the ultimate federal income tax characterization of distributions
reported to shareholders on Form 1099 DIV at the end of the calendar year. 
Investors should understand that return of capital is not a distribution from
income or gains from the Fund.

Under normal market conditions, the Fund attempts to provide consistent
distributions to shareholders.  However, because of the current market
environment the Fund's Board of Directors felt that it was prudent to decrease
the dividend rate at this time. Management proposed the reduction and
presented information on current conditions before the Board agreed to
decrease the distribution for the first time since the Fund's inception over
five years ago.

Extreme market volatility and an unprecedented decline on the values of
preferred and common stocks were the main factors the Board considered in
determining that a decrease was appropriate at this time.  Other factors
considered included lower net investment income earned on the Fund's lower
asset levels, as well as, uncertainty of future corporate dividend rates.  The
new distribution rate at market of 14.88% still remains higher than when the
Fund's dividend was last increased in August 2008, and continues to be
competitive versus its Lipper Value Funds peer group median of 13.95% (Lipper
data as of February 28, 2009).  Furthermore, management believes this move
will provide the portfolio managers with more flexibility to take advantage of
severely under-valued securities and attractive market opportunities that may
enhance the Fund's total return profile over the long-term.

The Fund's Board of Directors continues to actively consider all strategy
alternatives available to help add value to shareholders over the long-term. 
In December the Board approved the appointment of Analytic as a subadviser to
the Fund to manage a new options overlay strategy. At a meeting to be held on
April 14, 2009, shareholders of the Fund will be asked to approve or
disapprove Analytic as a subadviser to the Fund to manage the options
strategy.  The goal of the options strategy is to seek to enhance
risk-adjusted returns, reduce overall portfolio volatility and generate
tax-advantaged gains for current distributions from options premiums gained by
writing (selling) call options on a variety of both U.S. and non-U.S.
broad-based securities indices on a portion of the Fund's asset value.  There
is no guarantee if Analytic is approved as a subadviser that the Fund will
achieve its option strategy goals.  The advisory fees paid by the Fund will
not increase if Analytic is approved by shareholders.  Additional information
regarding the Fund's current proxy is available at www.jhfunds.com.

In addition, the Board also recently approved the renewal of the Fund's share
repurchase program which allows the Fund to purchase, in the open market, up
to 10% of its outstanding shares through December 31, 2009.  The plan allows
the Fund to acquire its own shares in the open market at a discount to NAV,
which is intended to increase the NAV per share.  It could also have the
benefit of providing additional liquidity in the trading of the common shares.
 There is no assurance that the Fund will purchase shares at any specific
discount levels or in any specific amounts or that the market price of the
Fund's shares, either absolutely or relative to net asset value, will increase
as a result of any share repurchases.

The Fund's investment objective is to provide a high level of after-tax total
return from dividend income and capital appreciation. Under normal market
conditions, the Fund invests at least 80% of its assets in dividend-paying
common and preferred securities that the Adviser believes at the time of
acquisition are eligible to pay dividends which, for individual shareholders,
qualify for U.S. federal income taxation at rates applicable to long-term
capital gains, which currently are taxed at a maximum rate of 15%.  As
discussed above, the distributions are to be made from current income,
supplemented by realized long-term capital gains, to the extent permitted by
law, realized short-term capital gains and, to the extent necessary, return of
capital. 

About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial, John
Hancock Funds manages more than $38.8 billion in open-end funds, closed-end
funds, private accounts, retirement plans and related party assets for
individual and institutional investors at December 31, 2008. 

About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation (the
Company), a leading Canadian-based financial services group serving millions
of customers in 19 countries and territories worldwide. Operating as Manulife
Financial in Canada and in most of Asia, and primarily as 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$405 billion (US$330
billion) at December 31, 2008. 

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. 

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 life insurance, fixed and
variable annuities, fixed products, mutual funds, 401(k) plans, long-term care
insurance, college savings, and other forms of business insurance. Additional
information about John Hancock may be found at www.johnhancock.com.

SOURCE  John Hancock Funds

Media: Jay Aronowitz of John Hancock, +1-617-663-2702; Investors:
+1-800-843-0090
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