Manulife Financial and CGI Finalize Agreement for the International Systems Development Centre (ISDC)

HALIFAX, Nova Scotia, Sept. 23, 2004 – Manulife Financial (TSX, NYSE and PSE: MFC; SEHK: 0945) and CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB), today announced the signing of the contract to create a new information technology development centre in Halifax. The signing of the memorandum of understanding was previously announced on June 9, 2004.

The mission of this centre of expertise will be to provide systems development, maintenance and integration services to Manulife and other CGI clients worldwide. As part of the six-year contract valued at CDN$125 million, 300 Halifax-based technology professionals will join CGI. CGI expects to grow employment at the centre to 500 technology positions.

“We are very excited about this new initiative and look forward to further solidifying our presence in the Halifax region. As we expand as a company we expect the centre will provide a solid platform from which to grow,” said Bruce Gordon, Senior Executive Vice President and General Manager of Manulife Financial’s Canadian Operations.

Michael Roach, CGI’s President and Chief Operating Officer added: “We would like to welcome our new professionals to the company. We look forward to working together on many stimulating projects as the centre evolves and serves other international clients. Our strategy is to continually enhance our global delivery model by offering world class clients competitively priced IT services through our homeshore, nearshore and offshore centres of excellence.”

Manulife Financial Corporation and John Hancock Financial Services, Inc., including its Canadian subsidiary, The Maritime Life Assurance Company, completed their merger on April 28, after receiving all necessary regulatory and shareholder approvals.

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 most of 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$360 billion (US$269 billion) as at June 30, 2004. 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 .

About CGI

Founded in 1976, CGI is among the largest independent information technology and business process services firms in North America. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices
in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in India and Canada. CGI’s annualized revenue run rate is currently CDN$3.8 billion (US$2.8 billion) and at June 30, 2004, CGI’s order backlog was CDN$13.2 billion (US$9.8 billion). CGI’s shares are listed on the TSX (GIB.A)
and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: