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Manulife Financial Corporation renews normal course issuer bid Toronto – Manulife Financial Corporation (“Manulife”) has filed a notice of intention to make a normal course issuer bid for the purchase of up to 20,000,000 common shares, representing approximately 4.3 per cent of the outstanding common shares. Purchases under the bid will be made through the facilities of The Toronto Stock Exchange in the period from October 17, 2002 to October 16, 2003 (or such earlier date as Manulife may complete its purchases) at the prevailing market price. Any common shares acquired by Manulife will be cancelled. Under its previous normal course issuer bid, Manulife has purchased of a total of 18.3 million common shares of the 20 million common shares that were authorized at an average price of $36.20 per share. The Company continues to believe that from time to time, the market prices of its common shares may not fully reflect the value of its business and its future business prospects and accordingly, may represent an attractive investment and a desirable use of its available funds. 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$139.8 billion as at June 30, 2002. 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 www.manulife.com. - 30 - For more information, please contact:
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