Company Press Release

Andrew G. Arnott Named John Hancock Funds President & CEO

BOSTON, July 13, 2012 /PRNewswire/ -- John Hancock Funds has named Andrew G. Arnott as President and Chief Executive Officer, succeeding Keith F. Hartstein, who is retiring from the company as previously announced.

"With our growth plans for John Hancock Funds as ambitious as ever, we are delighted to announce that Andy Arnott is taking on leadership of the organization," said Jim Boyle, President of John Hancock. "He has been with John Hancock Funds for nearly 20 years, continually innovating and growing as a leader and being a driving force behind Fund's growth and success. He has been involved in all aspects of the business and proven himself ideally suited to lead the organization and make our plans a reality."

Most recently, Mr. Arnott served as Executive Vice President of John Hancock Investment Management Services (IMS), which oversees all third party and internal asset manager relationships across the John Hancock and Manulife investment platforms in the U.S. and Asia. This includes the selection, monitoring and ongoing review of more than 450 investment strategies managed by 80 of the world's premier asset managers. These firms manage more than $170 billion for John Hancock and Manulife products including annuities, mutual funds, college savings, retirement plans and insurance.

In his IMS role, Mr. Arnott worked closely with Mr. Hartstein in overseeing the positioning of the John Hancock mutual funds product line, and directing the research of economic, investment market and competitive trends. He was responsible for investment-related new business development at John Hancock Funds, including acquisitions, fund adoptions and closed-end fund offerings.

Since joining John Hancock in 1993, Mr. Arnott has held a number of senior positions. Prior to heading IMS, he served as Chief Operating Officer of John Hancock Funds, and at various points in his career led Product Management, Development, and Marketing. He also served as Director of Annuity Product Development.

Mr. Arnott holds a Master's degree in Finance from Northeastern University, and a Bachelor's degree in Business from Boston University. He serves on the ICI Global Steering Committee and Closed-End Committee, as well as the Mount Mansfield Educational Foundation Scholarship Committee.

Succeeding Mr. Arnott as head of John Hancock IMS is Leo Zerilli, Vice President. In his new role, Mr. Zerilli will assume responsibility for all internal and third-party asset manager relationships across the John Hancock and Manulife Investment platforms in the U.S. and Asia, as well as for guiding the investment product development, product management, and market research strategies for IMS.

Mr. Zerilli joined John Hancock in 1997, and has played a key role in expanding the scope and size of IMS over the past 12 years, building the group's product development, fund implementation process, board reporting and marketing functions, and leading the strategic direction of each of these areas.

Mr. Zerilli holds an MBA, Magna cum laude, from Boston University and a Bachelor's degree from Colgate University. He is a Certified Investment Management Analyst and a member of the Investment Management Consultants Association.

In May, Mr. Hartstein announced that he planned to retire from John Hancock in September after 22 years with the company, the last seven as President of John Hancock Funds. A recognized leader in the industry, he served in leadership capacities with the Investment Company Institute (ICI) and Mutual Fund Education Alliance (MFEA) and received numerous awards through his career.

About John Hancock Funds The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds manages more than $74.5 billion in open-end funds, closed-end funds, private accounts, college savings and retirement plans, and related party assets for individual and institutional investors as at March 31, 2012.

About John Hancock Financial and Manulife Financial Corporation John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, John Hancock celebrates 150 years of serving clients across the United States, while Manulife celebrates its 125th anniversary. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, Manulife Financial Corporation 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 C$512 billion (US$512 billion) as at March 31, 2012. 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 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, 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 johnhancock.com.