CBA Financial Services Corporation awards Manulife Financial Canadian Pension Operations exclusive contract

OTTAWA, Oct. 21, 2003 – The CBA Financial Services Corporation (CBAF) has awarded Manulife Financial Canadian Pension Operations(1) an exclusive contract to market its group registered retirement savings plan (RRSP).

“Our new arrangement with Manulife represents a new and exciting opportunity for the Canadian legal community,” says Dale Linn, President of CBAF. “With the help of our asset consultant, Rick Headrick from James P. Marshall, a Hewitt Company, we conducted a thorough market search to determine the best carrier for our needs. Manulife demonstrated flexibility, commitment to service, competitive investment management fees for our members and dynamic technology solutions – making them an obvious choice.”

Effective January 1, 2004, more than 200,000 members of the Canadian legal community will be able to take advantage of Manulife’s superior group RRSP product and access high-quality institutional funds.

Michael Doughty, Vice-President, Manulife Financial’s Canadian Pension Operations says, “Our team is excited to partner with CBAF. This is a great opportunity to market our group RRSP product to the members of a highly respected professional organization.”

About CBAF

Canadian Bar Association Financial Services Corporation (CBAF) was formed in partnership with the Canadian Bar Insurance Association (CBIA) and the Canadian Bar Association (CBA) for the purpose of providing members of the Canadian Legal Profession with superior financial services.

The Canadian Bar Insurance Association is a not-for-profit corporation, which provides a complete range of insurance benefits to legal professionals, their spouses and law firm staff.

The Canadian Bar Association is dedicated to improvement in the law and the administration of justice. Some 38000 members of the Canadian legal profession are members.

About Manulife Financial

Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$144.3 billion as at June 30, 2003.

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

(1) Manulife Canadian Pension Operations is a unit of The Manufacturers Life Insurance Company.