Manulife Financial Corporation announces increase to Preferred Share issue

TSX/NYSE/PSE: MFC; SEHK: 945

TORONTO, May 25 /PRNewswire-FirstCall/ - Manulife Financial Corporation
("Manulife") today announced that as a result of strong investor demand for
its Canadian public offering of Non-cumulative Rate Reset Class 1 Shares
Series 1 ("Series 1 Preferred Shares"), which was announced earlier today, the
size of the offering has been increased to 14 million shares. The gross
proceeds of the offering will now be $350 million. There will not be an
underwriters option, as was previously granted. The offering will be
underwritten by a syndicate of investment dealers led by Scotia Capital Inc.
and RBC Dominion Securities Inc. and is anticipated to qualify as Tier 1
capital for Manulife. The expected closing date for the offering is June 3,
2009.
Manulife intends to file a prospectus supplement to its May 8, 2009 amended
and restated base shelf prospectus in respect of this issue.
Approximately half of the net proceeds from the offering will be applied to
reduce amounts outstanding under Manulife's credit facility with Canadian
chartered banks and the balance of the net proceeds will be utilized for
general corporate purposes.
The Series 1 Preferred Shares have not been and will not be registered in the
United States under the Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an applicable
exemption from the registration requirements. This press release does not
constitute an offer to sell or a solicitation to buy securities in the United
States and any public offering of the securities in the United States must be
made by means of a prospectus.

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$405.3 billion
(US$321.7 billion) as at March 31, 2009.
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

Media inquiries: Tom Nunn, (519) 594-8578, tom_nunn@manulife.com; Investor
Relations: Amir Gorgi, 1-800-795-9767, investor_relations@manulife.com