Manulife Financial signs agreement to acquire Berkshire-TWC Financial Group Inc.

Purchase will significantly expand Manulife wealth management business in Canada

TORONTO, June 26 2007 – Manulife Financial Corporation and Berkshire-TWC Financial Group Inc. today announced that, subject to regulatory approvals, Manulife will acquire Berkshire’s mutual fund and securities dealerships in Canada, consisting of more than 700 Advisors and 237 branches across Canada. The deal is expected to close by August 31, 2007.

“This agreement is a natural fit for Manulife,” said Paul Rooney, President and Chief Executive Officer, Manulife Canada. “When coupled with Manulife Securities, this will double our number of wealth management advisors across Canada and triple assets under administration in that business. This increased distribution capacity will add a significant amount of high-quality business to our Canadian operations.”

“Both Manulife and Berkshire have similar strong cultures designed to serve the needs of investors through independent advisors. We now have an excellent opportunity to significantly broaden Manulife’s position in Canada’s wealth management market, while providing Berkshire’s clients and advisors with access to Manulife’s platform of insurance, wealth and banking products and services.”

Bob Levis, Chief Executive Officer of Berkshire-TWC, added: “This sale reflects the continuation of our overall strategy to keep building momentum for our independent advisors and their clients. We are committed to ensuring our clients continue to receive high-quality service and are very pleased that Manulife Financial is the purchaser of our business, since they share our passion for service and providing advisors and clients with a broad array of products and services.”

When combined with Manulife Securities International Limited, the transaction will create a sales force of 1,500 independent advisors and a business with about $19 billion in assets under administration.

Broadens Manulife’s wealth management reach, systems

“This is a significant boost to Manulife’s wealth management business in Canada, particularly since it adds top-quality independent advisors to our team, top-quality systems, plus products available through members of the Investment Dealers Association and Mutual Fund Dealers Association,” added Mr. Rooney.

“Manulife Financial will continue to grow rapidly through the introduction of new and innovative products, the aggressive use of technology and expansion of our existing businesses. A key objective for Manulife is to help Canadians make better financial decisions and we welcome the opportunity to be of service to the advisors and clients of Berkshire.”

About Berkshire-TWC Financial Group

Berkshire-TWC Financial Group Inc., consisting of Berkshire Securities Inc., Berkshire Investment Group Inc. and Berkshire Insurance Services Inc., is Canada’s largest independent privately-owned financial planning and wealth management organization. For more than 20 years Berkshire has provided clients with an outstanding level of personalized investment planning, service and support. With approximately 700 highly trained professional advisors administering approximately $13 billion of Canadians’ investment savings, Berkshire’s mission is to provide its clients with the solutions for the creation, preservation and distribution of wealth.

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$426 billion (US$370 billion) as at March 31, 2007.

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

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