Manulife Statement on Muddy Waters Report

Toronto – The Muddy Waters report is a short seller’s attempt to profit at the expense of our shareholders, and we disagree with its conclusions. Manulife continues to believe that Mosten’s position is legally unfounded. We firmly believe that the consumers purchasing universal life policies, and the insurers issuing these policies, never intended to have the policies function as deposit or securities contracts. We have a sound, highly rated global franchise. We expect we will prevail with respect to this matter and that it will not affect our business operations or our ability to meet obligations to our customers, vendors and other key stakeholders.

Media Relations:

Sean B. Pasternak

Manulife 416-254-2114

sean_pasternak@manulife.com

Investor Relations: 

Adrienne O’Neill

Manulife

416-926-6997

adrienne_o’neill@manulife.com