today announced that it
has entered into an agreement with Ibbotson Associates Advisors , LLC
to introduce a new group of annuity-based investment options. The new
Seasons family of variable annuities offers retail investors a
tax-deferred vehicle that incorporates the disciplined investing
techniques of America's largest institutions within a fund-of-funds
approach. We believe it is going to change the landscape of
our industry. Return on
common shareholders' equity for the fourth quarter was 15.9 billion, primarily due to the impact of the
strengthening Canadian dollar and scheduled maturities of institutional
annuities in Guaranteed and Structured Financial Products.8 billion impact of the strengthening Canadian dollar.38125 per share was also declared on the
Non-cumulative Class A Shares Series 6 of The Manufacturers Life Insurance
Company, payable on and after March 31, 2006 to shareholders of record at the
close of business on March 15, 2006.1

U.

U. This earnings growth was largely driven by changes in
actuarial methods and assumptions of $49 million compared to
$8 million in 2004, favourable claims experience in the John
Hancock Accident and Health operations and lower integration
expenses.5% 13.13 $ 0.

retire mlc

" The
company brings extensive experience in this area having managed
lifestyle assets for 401(k) plan participants and variable annuity
contract holders since 1996.

- John Hancock Retirement Plan Services ("RPS ") was named 'Best in
Class' in seven service categories in PLANSPONSOR magazine's
annual survey of plan sponsors. Full year 2005 shareholder
earnings were $614 million, up 31 per cent over 2004.0

U.5 billion were
considerably higher than the $6. Net income for the fourth quarter of 2005 was
$65 million compared to the prior year quarter of $82 million. The beneficial impact on
segregated fund guarantee reserves from higher equity markets and
expense efficiencies resulting from the merger of Maritime Life
and Manulife also contributed to increased earnings.manulife.11 $ 3.

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"
"We have always advocated an investment approach that eliminates
the emotion of the moment and replaces it with disciplined
decision-making techniques that have stood the test of time," said
Michael Henkel, President of Ibbotson Associates Advisors.
AIG's global businesses also include financial services, retirement
services and asset management.1 13.

Diluted Earnings per Share and Return on Common Shareholders' Equity
---------------------------------------- ----------------------------
Fourth quarter diluted earnings per share were $1.1 billion a year ago.

- Premiums and deposits for the quarter of $7. Lower mutual
fund deposits in Indonesia, as a result of the market turmoil
earlier in the year, largely offset this growth.7 billion
as at December 31, 2005 compared to $28. Also
contributing to the decrease from 2004 was unfavourable Life
Reinsurance claims experience compared to very favourable
experience in the fourth quarter of last year.
The conference call will also be webcast through Manulife Financial's
website at 2:00 p.62
Return on common
shareholders' equity
(annualized) 15.

ssas annuities

John Hancock is currently the third
largest provider of lifestyle products in the United States with
more than US$15 billion of assets in this segment.93 4. The increase in net income was driven
primarily by a 19 per cent growth in segregated fund assets as a result of
strong variable annuity sales in the U. These increases were
partially offset by the $0. dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders ' Net Income
(millions) 152 119 122 508 361
Premiums + Deposits (millions) 1,501 1,399 1,492 5,510 4,501
Funds under Management
(billions) 49.S.S.3

U.

Asia and Japan Division

Canadian dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
-- -- ---- ---- ---- ----
Shareholders' Net Income
(millions) 228 213 120 732 489
Premiums + Deposits (millions) 2,354 2,058 2,230 9,105 7,741
Funds under Management
(billions) 31. Manulife Financial can be found on the Internet
at http://www. These forward-looking
statements relate to, among other things, our objectives, goals, strategies,
intentions, plans, beliefs, expectations and estimates, and can generally be
identified by the use of words such as "may," "will," "could ," "should,"
"would," "suspect," "outlook," "expect," "intend," "estimate," "anticipate,"
"believe ," "plan," "forecast," "objective"
and "continue" (or the negative thereof) and words and expressions of
similar import.14 $ 0.93 $ 4.

atkin csrs

AIG SunAmerica's Seasons Variable Annuities feature four new
Managed Allocation Portfolios that provide investors with the benefits
of multiple layers of diversification - asset class, investment style
and individual money management talent - along with the disciplined
practices of strategic asset allocation and regular portfolio
monitoring and rebalancing. With offices
in Chicago, New York and Tokyo, Ibbotson Associates provides
integrated investment knowledge, leading-edge technology,
multi-conceptual education and a variety of sales presentation
solutions.11, 13 per cent higher than
the $3.5 per cent, an
improvement of 253 basis points over the 13 per cent return reported for the
fourth quarter of 2004.
The fourth quarter results included certain atypical items that were
largely offsetting.1 per cent compared to
13. Segregated fund
assets increased by 19 per cent to $139.

Capital
--- ----
Total capital was $28.29063 per share was also
declared on the Non-cumulative Class A Shares Series 2 of the Company, payable
on and after March 19, 2006 to shareholders of record at the close of business
on February 21, 2006.

- Funds under management of $57.9 117. Deposits in John Hancock Mutual Funds of
$1. Wealth Management, however, for financial reporting it is a
separate segment.1

U.S.

Reinsurance Division

Canadian dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders' Net Income
(loss) (millions) (29) (151) 65 (108) 230
Premiums (millions) 249 401 263 1,217 982

U.93 $ 4.

sipps uniglobal

AIG SunAmerica Retirement Market 's new Managed Allocation
Portfolios in the Seasons variable annuities are designed to bring
institutional investment techniques to retail investors.

OPERATING HIGHLIGHTS

- Manulife Financial Corporation's Board of Directors approved the
establishment of dividend reinvestment and share purchase plans
that allow shareholders to automatically reinvest their dividends
in common shares of the Company.

- John Hancock Mutual Funds continued to expand its fund line-up to
retail mutual fund investors with the introduction of five asset
allocation fund-of funds called "Lifestyle Portfolios.

- In January 2006, Manulife Financial Corporation completed a
preferred share offering of 12 million , 4. General fund
assets declined by $1.9 billion and market value appreciation, partially
offset by a $4. The increase from in-force
business growth and improved equity markets was largely offset by
the negative impact of the stronger Canadian dollar and a large
surrender in the Closed Individual Insurance Participating block
during the third quarter of 2005. dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders' Net Income
(millions) 129 136 94 484 306
Premiums + Deposits (millions) 6,401 6,470 5,113 23,519 17,789
Funds under Management
(billions) 121. dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders' Net Income
(millions) 55 30 67 232 165
Premiums + Deposits (millions) 439 432 432 1,619 1,270
Funds under Management
(billions) 31. Driving the increase was
in-force growth in Group Benefits, higher fee based assets in
Individual Wealth Management and an increase in both volume and
spreads on bank lending products . Funds under
management by Manulife Financial and its subsidiaries were Cdn$372 billion
(US$319 billion) as at December 31, 2005.

Attachments: Financial Highlights, Consolidated Statements of Operations,
Consolidated Balance Sheets, Divisional Information.14 $ 0.7%
Book value per
common share $ 29.

hutto 401k

which
comprise the AIG SunAmerica life companies, one of the largest issuers
of fixed and variable annuities through a national distribution
network of registered representatives, independent broker-dealers,
securities firms, banks and insurance agencies.3 billion, seven per cent higher
than December 31, 2004. As
the Official Life Insurance Partner of the 2008 Olympic games in
Beijing, Manulife -Sinochem expects to build additional brand
awareness.5 12.S.

Quarterly Dividends
-------------------
The Board of Directors approved a quarterly shareholders ' dividend of
$0.S.S.S.1 107. Wealth Management's net income for the fourth quarter of 2005
was $151 million, a 30 per cent increase over the $116 million
reported in the prior year quarter.2 billion reported in the fourth
quarter of 2004, mainly as a result of higher segregated fund
deposits in the variable annuity and RPS businesses.S. Partially offsetting this increase was
the impact of the stronger Canadian dollar.

- Premiums and deposits in the fourth quarter were $2.

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AIG's common stock is listed on the New York Stock
Exchange and ArcaEx, as well as the stock exchanges in London, Paris,
Switzerland and Tokyo .5 billion driven by strong organic growth and
four additional months of contribution from John Hancock .1 billion or 10. Integration expenses and a charge in the Reinsurance
Division primarily related to Hurricane Wilma were offset by a reserve release
resulting from a move to a less risky asset profile in Japan and a benefit
resulting from the fourth quarter review of actuarial methods and assumptions .3 billion in the
fourth quarter of 2005 from $14.S.

- Funds under management of $142.5

- Guaranteed and Structured Financial Products operates as part of
U. dollar.0 66.1 billion as at
December 31, 2004.

Corporate and Other

Canadian dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders' Net
Income (millions ) 116 106 49 379 141

- Corporate and Other is comprised of the Investment Division's
external asset management business, earnings on excess capital,
the transfer of credit risk from operating divisions, integration
expenses, changes in actuarial methods and assumptions and other
non-operating events.

Notes:

Manulife Financial Corporation will host a Fourth Quarter Earnings
Results Conference Call at 2:00 p. An archived version of the webcast will be
available later on the website at the same URL as above.5 billion in fiscal year 2004. Guaranteed + Canadian
Protection Wealth Structured
Management Financial
Premiums and deposits Products
-------------------------------------------------------------------------
General fund premiums $ 5,382 $ 2,149 $ 1,116 $ 5,761
Segregated fund deposits 1,284 19,803 405 4,514
Mutual fund deposits - 5,384 - 1,107
ASO premium equivalents - - - 2,150
Other fund deposits - 1,097 439 -
------------ -------------------------------------------------------------
Total $ 6,666 $ 28,433 $ 1,960 $ 13,532
--------------------------------------------------- ----------------------
---------------------------------------------------------------------- ---

Net income $ 614 $ 585 $ 283 $ 797
----- --------------------------------------------------------------------
------------------------ -------------------------------------------------

Funds under management As at December 31, 2005
-------------------------------------------------------------------- -----
General fund $ 46,507 $ 20,552 $ 31,499 $ 42,424
Segregated funds 11,374 84,980 5,016 23,443
Mutual funds - 30,248 - 3,152
Other funds - 6,322 - -
---------------------------------------------------------------------- ---
Total $ 57,881 $142,102 $ 36,515 $ 69,019
--------- ----------------------------------------------------------------
---------------------------- ---------------------------------------------

For the year ended December 31, 2005
----------------------------------- ----------
Asia Reinsurance Corporate Total
and Japan and
Premiums and deposits Other
--------------------------------------------------------------------- ----
General fund premiums $ 2,962 $ 1,217 $ - $ 18,587
Segregated fund deposits 5,226 - 554 31,786
Mutual fund deposits 917 - - 7,408
ASO premium equivalents - - - 2,150
Other fund deposits - - - 1,536
-------------------------------------------------------------------------
Total $ 9,105 $ 1,217 $ 554 $ 61,467
------------------------------- ------------------------------------------
-------------------------------------------------- -----------------------

Net income $ 741 $ (108) $ 379 $ 3,291
-------------------------------------------------------------------------
---- ---------------------------------------------------------------------

Funds under management As at December 31, 2005
--------------------------------------------------- ----------------------
General fund $ 16,111 $ 2,687 $ 7,452 $167,232
Segregated funds 12,282 - 2,600 139,695
Mutual funds 1,164 - - 34,564
Other funds 2,139 - 22,321 30,782
---------------------------------------------------- ---------------------
Total $ 31,696 $ 2,687 $ 32,373 $372,273
-------------------------------------------------------------------------
----------- --------------------------------------------------------------

For the year ended December 31, 2004
--------------------- ------------------------
U.

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"AIG SunAmerica's four new Managed Allocation Portfolios represent
a solid investment choice for many individuals preparing for
retirement ," said Jana Waring Greer, President, AIG SunAmerica
Retirement Markets. Ibbotson markets its integrated product line of investment
analytical tools and services to institutional money managers, plan
sponsors and consultants for quantitative analysis, high-level
decision-making and presentations.

"
Manulife Financial reported record fourth quarter results with
shareholders' net income of $908 million, up 20 per cent, and basic earnings
per share of $1.S.
The Company continues to believe that from time to time, the market price
of its common shares may not adequately reflect the value of its business and
its future business prospects.9 56.6 48.5 billion were primarily from sales of retail mutual funds, and
were consistent with the fourth quarter of 2004 .0 28.

- Funds under management increased by $3. This growth was fueled by variable annuity
sales in Japan, combined with increased business volumes in
pension and wealth management products in Hong Kong, including
sales of newly launched products in the second half of the year. Private Securities Litigation Reform Act of 1995.
Certain material factors or assumptions are applied in making forward-looking
statements, and actual results may differ materially from those expressed or
implied in such statements.

hutto retire

Premiums and deposits increased 22 per cent
over last year to a record $61. And with the successful integration of John
Hancock now behind us, we look forward to building on the strengths of our
combined operations.

QUARTERLY FINANCIAL PERFORMANCE

Financial Highlights
(unaudited)

Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders' Net Income
(C$ millions) 908 746 756 3,294 2,550
Basic Earnings per Common
Share (C$) 1.3 359.07
and return on common shareholders ' equity was 14.7 per cent in 2004.7 billion from $117. Accordingly, the common shares may at such
times represent an attractive investment and an appropriate and desirable use
of available funds.4

- U.S.3 31. Also contributing to the decrease was the
impact of the weakened U.

- Premiums and deposits for the quarter were $3. Also, continued sales success in
lending products by Manulife Bank and new and renewal premiums
from Individual Life and Group Benefits increased general fund
assets. dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders ' Net Income
(millions) 195 177 99 608 377
Premiums + Deposits (millions) 2,006 1,712 1,826 7,522 5,982
Funds under Management
(billions) 27. The
loss in the quarter was primarily attributable to Property and
Casualty reinsurance losses related to Hurricane Wilma.m.

csrs annuity

These equity
portfolios, which incorporate a number of complementary passive and
active investing techniques and styles, will be allocated by Ibbotson
in different combinations to each of the four Managed Allocation
Portfolios, producing four fund-of-funds with distinct sets of risk
and reward characteristics . AIG also has one of the
largest U. 2005 shareholders' net income of $3. Earnings per share were $4.
"We are very pleased to report record top and bottom line results for the
company in 2005 ," said Dominic D'Alessandro, President and Chief Executive
Officer of Manulife Financial. Also, new licenses were received for Shenzhen and
Chengdu.35 per share on the common shares of the Company, an increase of $0.

Guaranteed and Structured Financial Products

Canadian dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders' Net Income
(millions) 65 36 82 283 212
Premiums + Deposits (millions) 516 519 526 1 ,960 1,641
Funds under Management
(billions) 36.7 30. Full
year 2005 shareholders' net income was $732 million, an increase
of 50 per cent over 2004. Please call in ten minutes before the call
starts.1% 13.

atkin sipps

"
A recent study by employee benefits firm Watson Wyatt Worldwide
("Defined Benefit vs. Published in the magazine's
November issue, John Hancock earned top honours in categories
ranging from communication and education to statements and forms.

- Manulife-Sinochem continued to expand its operations in China with
the start of operations in the cities of Nanjing, Hangzhou, and
Zhongshan.5% non-cumulative Class
A Shares, Series 3 at a price of $25 per share for gross proceeds
of $300 million.0 14. Full
year net income was $283 million compared to $212 million for the
eight month period from acquisition to December 31, 2004.5 billion were down nine per cent from the prior year
period, as scheduled maturities have exceeded new sales volume in
the past 12 months.

Canadian Division

Canadian dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders' Net Income
(millions) 199 235 175 809 614
Premiums + Deposits (millions) 3,339 3,347 3,212 13,532 11,058
Funds under Management
(billions) 69.7 60. Improved
claims experience in the Affinity and Group Benefits businesses
were partially offset by unfavourable lapse experience in
Individual Insurance .3 billion, up
four per cent from the $3. A playback of this call will be available at 5:00 p. ET February 9, 2006.S.07 $ 3.3 billion
in fiscal year 2005 and $5. U.

annuity punter

"These new
fund-of-funds portfolios incorporate institutional investment
techniques designed to produce the long-term returns for a given level
of risk. The company provides
nearly seven million Americans with retirement savings and investment
products from subsidiaries of AIG Retirement Services, Inc .S. On a constant currency basis, funds under
management would have been $384.93 0 .7
Premiums + Deposits
(C$ millions) 16,280 15,777 14,288 61,467 50,444
Funds under Management
(C$ billions) 372.
Partially offsetting these increases were property and casualty reinsurance
losses of $83 million, primarily related to Hurricane Wilma, and a $42 million
impact of the stronger Canadian dollar.

Funds under Management
----------------------
Funds under management increased by $24.
Premiums and deposits in RPS grew by six per cent, driven by the
impact of higher recurring deposits from the growing block of
in-force participants. dollar
basis, segregated funds under management grew by 22 per cent from
strong variable annuity and RPS net policyholder cash flows and
the favourable influence of improved equity markets during the
year. Funds under management
of $36. Full year net income was $379 million compared to
$141 million in 2004.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '0945' on the SEHK.com/QuarterlyReports.

iras 401

"The innovative design, modeled on the investment
strategies successfully employed for decades by large institutional
investors, delivers a broadly diversified portfolio that represents a
disciplined approach to investing and eliminates short-term, emotional
performance-chasing.
American International Group , Inc. (AIG) is the world's leading
international insurance and financial services organization, with
operations in approximately 130 countries and jurisdictions. AIG's financial services businesses
include aircraft leasing, financial products, trading and market
making.

"The increase in fourth quarter earnings reflects continued growth from
in-force earnings, strong sales growth and favourable investment experience
that was offset to some extent by increased claims and the negative impact of
currency movements," noted Peter Rubenovitch, Senior Executive Vice President
and Chief Financial Officer. Also contributing to earnings were
$52 million related to a release in reserves resulting from a move to a less
risky asset profile in the Japan Daihyaku block and $49 million from the
fourth quarter review of changes in actuarial methods and assumptions.6 billion in 2004
reflecting net sales of $16. Net income for 2005 of $3.05 per
share, payable on and after March 20, 2006 to shareholders of record at the
close of business on February 21, 2006. A dividend of $0.

Normal Course Issuer Bid
------------------------
Under its current normal course issuer bid, which commenced on
November 9, 2005, Manulife Financial has purchased a total of 721,000 common
shares at an average price of $67.1 136.4 billion or 14 per cent over
2004.2 25.4 billion, an
increase of six per cent compared to the same quarter in 2004.

- Premiums of $249 million were $14 million or five per cent lower
than in the fourth quarter of 2004.65
Diluted earnings per
common share $ 1.42
Common shares
outstanding
(in millions)
End of period 792 808
Weighted average -
basic 792 810 799 698
Weighted average -
diluted 800 818 806 704

Summary Consolidated Financial Statements

Consolidated Statements of Operations
(Canadian $ in millions except
per share data, unaudited) For the three For the
months ended year ended
December 31 December 31
2005 2004 2005 2004
--------------------------------------------------- --------------------
Revenue
Premium income $ 4,813 $ 4,699 $ 18,587 $ 16,287
Net investment income 2,419 2,378 9,618 7,823
Other revenue 968 840 3,842 2,857
--------------------------------------------------- ----------------- ---
Total revenue $ 8,200 $ 7,917 $ 32,047 $ 26,967
--------- ------------------------------------------ --------------------
Policy benefits and expenses
To policyholders and
beneficiaries
Death and disability
benefits $ 1,537 $ 1,427 $ 6,440 $ 4,778
Maturity and surrender
benefits 2,191 2,686 10,398 8,659
Annuity payments 802 910 3,366 2,828
Policyholder dividends and
experience rating refunds 422 441 1,569 1,391
Net transfers to
segregated funds 150 116 465 507
Change in actuarial
liabilities (x) (257) (595) (2,376) (1,137)
General expenses 960 913 3,576 3,050
Commissions 953 729 3,253 2,609
Interest expense 200 189 788 629
Premium taxes 53 65 244 208
Non-controlling interest
in subsidiaries (13) 11 2 20
------------ --------------------------------------- --------------------
Total policy benefits
and expenses $ 6,998 $ 6,892 $ 27,725 $ 23,542
------------------------ --------------------------- --------------------
Income before income taxes $ 1,202 $ 1,025 $ 4,322 $ 3,425
Income taxes (302) (264) (1,031) (874)
--------------------------------------------------- --------------------
Net income $ 900 $ 761 $ 3,291 $ 2,551
Less: net income (loss )
attributed to participating
policyholders (8) 5 (3) 1
--------------------------------------------------- --------------------
Net income attributed to
shareholders $ 908 $ 756 $ 3,294 $ 2,550
Preferred share dividends (5) - (14) -
- -------------------------------------------------- --------------------
Net income available to
common shareholders $ 903 $ 756 $ 3,280 $ 2,550
--------- ------------------------------------------ --------------------
---------------------------- ----------------------- --------------------

Basic earnings per
common share $ 1.65
Diluted earnings per
common share $ 1.4 billion in Q4 2005 and $1.

Consolidated Balance Sheets
(Canadian $ in millions, unaudited )
As at December 31
Assets 2005 2004
-------------------------------- -----------------------------------------
Invested assets
Bonds $ 103,315 $ 106,073
Mortgages 28,008 28,684
Stocks 8,896 8 ,344
Real estate 5,279 4,669
Policy loans 6,120 6,743
Cash and short-term investments 9,360 8,517
Bank loans 1 ,806 1,391
Other investments 4,448 4,721
-------------------------------------------------------------------------
Total invested assets $ 167,232 $ 169,142
----------------------------------------- --------------------------------
Other assets
Accrued investment income $ 1,334 $ 1,777
Outstanding premiums 735 549
Goodwill 7,501 7,332
Intangible assets 1,742 1,806
Miscellaneous 3,266 3,640
-------------------------------------------------- -----------------------
Total other assets $ 14,578 $ 15,104
-------------------------------------------------------------------------
Total assets $ 181,810 $ 184,246
-------------------------------- -----------------------------------------
--------------------------------------------------- ----------------------
Segregated funds net assets $ 140,361 $ 117,890
-------------------------------------------------------------------------
----------- --------------------------------------------------------------

Liabilities and equity
-------------------------------------------------------------------------
Policy liabilities $ 132,049 $ 137,410
Deferred realized net gains 4,476 3,667
Bank deposits 5,911 4,373
Consumer notes 2,900 2,881
Future income tax liability 1,337 980
Other liabilities 6,784 6,800
-------------------------------------- -----------------------------------
$ 153,457 $ 156,111

Long-term debt 2,457 2,948
Liabilities for preferred shares
and capital instruments 1,922 1,950
Non-controlling interest in subsidiaries 187 136

Equity
Participating policyholders' equity 157 150
Shareholders ' equity
Preferred shares 344 -
Common shares 14,490 14,646
Contributed surplus 93 102
Retained earnings and currency
translation account 8,703 8,203
------------------------------------ -------------------------------------
Total equity $ 23,787 $ 23,101
-------------------------------------------------------------------------
Total liabilities and equity $ 181,810 $ 184,246
---------------- ---------------------------------------------------------
----------------------------------- --------------------------------------
Segregated funds net liabilities $ 140,361 $ 117,890
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Notes to Summary Consolidated Financial Statements
(Canadian $ in millions, unaudited)

Note 1: Divisional Information

For the year ended December 31, 2005
---------------------------------------------
U.

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The Focused Portfolios incorporate a concentrated,
multi-managed approach that combines the ten best stock picks of each
of three separate and distinct managers.
AIG SunAmerica Retirement Markets, Inc. AIG
member companies serve commercial, institutional and individual
customers through the most extensive worldwide property-casualty and
life insurance networks of any insurer. retirement services businesses through AIG SunAmerica and
AIG VALIC, and is a leader in asset management for the individual and
institutional markets, with specialized investment management
capabilities in equities, fixed income, alternative investments and
real estate.

- Manulife Japan launched "Manustep" a universal life insurance
product that provides a balanced combination of insurance coverage
and retirement funds, and allows customers to tailor their desired
policy combinations.6 347. A dividend of $0.5 57.1 billion reported in 2004. Full year net income was $585 million compared to
$397 million in 2004.S.

About Manulife Financial
------------------------
Manulife Financial is a leading Canadian-based financial services group
serving millions of customers in 19 countries and territories worldwide .m.m. Although we believe that the expectations reflected in such
forward-looking statements are reasonable , such statements involve risks and
uncertainties, and undue reliance should not be placed on such statements.S.

punter hutto

401(k)," October 2004), revealed that over the
five-year period from 1995 to 2001, the investment results of the
largest private pension plans outpaced those of individual 401(k)
participants by 1% a year - a difference that compounded over 30 years
could produce dramatic differences in retirement income. AIG
SunAmerica Retirement Markets' Seasons Select and Focused Portfolios
will serve as the underlying equity investments for the Managed
Allocation Portfolios; each of the equity Select Portfolios combines
an indexed manager with two active managers who have complementary
investment styles.7 13.4 billion as at December 31, 2004.2 billion, a reduction in long-term debt of $491 million
and a negative impact of the strengthening Canadian dollar. The stronger Canadian
dollar negatively impacted earnings. Partially
offsetting these increases were a less favourable impact of market
appreciation on segregated fund reserves and the strengthening
Canadian dollar. The increase in funds under management was primarily from
positive net policyholder cash flows and investment returns in
segregated and mutual funds.com . Additional
information about these factors and about the material factors or assumptions
underlying such forward-looking statements may be found in the body of this
document as well as under "Risk Management" in the Management's Discussion and
Analysis in our most recent Annual Report.

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Ibbotson Associates, founded by Professor Roger
Ibbotson in 1977, is a leading authority on asset allocation ,
providing products and services to help investment professionals
obtain, manage and retain assets . AIG's growing global consumer financial business is led in the
United States by American General Finance. Individual Insurance sales of US$229 million, an increase of
60 per cent over last year;
- Premiums and deposits of $16. Arrangements to implement these
plans are being finalized and further details will be communicated
shortly.3 billion in 2004, primarily driven by
increased variable annuity sales in the U.7 billion impact of the strengthening Canadian
dollar.3 billion as at
December 31, 2005 from $347.23438 per share was also declared on
the Non-cumulative Class A Shares Series 3 of the Company, payable on and
after March 19, 2006 to shareholders of record at the close of business on
February 21, 2006.45 per share. Earnings in Long Term Care
rose as a result of in-force business growth, improvements in new
business margins, increased sales and more favourable claims and
investment experience . Growth in premiums and
deposits occurred in Long-Term Care resulting from in-force growth
and improved sales, and in Universal Life premiums in the
Individual Insurance business. The earnings growth in the
fourth quarter was principally due to increased fee income on
higher asset levels.1 billion were ten per cent higher
compared to $129.3 33. dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- ---- ----
Shareholders' Net Income
(loss) (millions ) (24) (127) 53 (92) 177
Premiums (millions) 212 334 215 1,005 756

- Reinsurance Division reported a net loss of $29 million in the
fourth quarter of 2005, a decrease of $94 million from the net
income of $65 million reported in the fourth quarter of 2004.
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.40 $ 28.S.

Businesses which sell retirement planning services or products to individuals.

grandchild uniglobal

This marks the fifth consecutive year that RPS has been awarded
top ratings in participant services. and Japan, and improvements in
margins in Long Term Care and Hong Kong.0 per cent for the same
period in 2004.9 23. ET
February 9, 2006 until midnight ET, February 16, 2006 by calling
(416) 641-2135 (passcode No.

The Fourth Quarter 2005 Financial Statements and Statistical Information
Package are also available on the Manulife website at:
http://www.

Caution regarding Forward-Looking Statements
This document contains forward-looking statements within the meaning of
the "safe harbour " provisions of Canadian provincial securities laws and the
U.11 $ 3.

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AIG SunAmerica Announces Agreement with Ibbotson Associates Advisors LLC To Offer Four New Fund-of-Funds Investment Options

is a financial services
company specializing in retirement strategies. The company's business lines include
investment and cost of capital consulting and research; planning and
analysis software; wealth forecasting; educational services and a
widely used line of NASD-reviewed presentation materials .3 billion up 29 per cent over 2004

Strong sales help drive record Q4 earnings of $908 million or $1.4

Net Income
----------
Manulife Financial Corporation reported shareholders ' net income of
$908 million for the quarter ended December 31, 2005, an increase of
20 per cent from $756 million in 2004.13 compared to $0.92 in
2004. and Japan. A dividend of $0. Protection

Canadian dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
-- -- ---- ---- ---- ----
Shareholders' Net Income
(millions) 178 144 149 614 467
Premiums + Deposits (millions) 1,762 1,680 1,820 6,666 5,816
Funds under Management
(billions) 57.6 47.8 billion for the quarter were
consistent with the fourth quarter of 2004. Record high sales levels in variable
annuities and in Retirement Pension Services ("RPS") helped to
boost the asset levels in the fourth quarter as revenues outpaced
the increases in expenses due to economies of scale. The
decrease in earnings was a result of less favourable claims and
investment experience compared to the fourth quarter of 2004.0 billion, an increase of $8. This increase was driven by
growth in Japan's variable annuity block and Hong Kong's
Individual business and a $52 million release in reserves
resulting from a move to a less risky asset profile in the
Daihyaku block of business. The increase in funds under management was partially
offset by redemptions of mutual funds in Indonesia, consistent
with the experience across the industry as interest rates spiked
mid-year, and the impact of the stronger Canadian dollar.

atkin 401

Business Editors

LOS ANGELES----

New Seasons Variable Annuities Are the First Tax-Deferred Vehicles
to Offer Institutional Investment Techniques to Retail Investors
Within a Fund-of-Funds Approach

AIG SunAmerica Retirement Markets, Inc.14 per
share

TSX/NYSE/PSE: MFC; SEHK: 0945

TORONTO, Feb. In addition, this quarter, four banking
subsidiaries of the Mitsubishi UFJ Financial Group began selling a
new variable annuity product developed with Manulife Japan through
approximately 660 branches and sub-branches throughout Japan .
Diluted earnings per share for the year increased by 12 per cent to $4.

Premiums and Deposits
---------------------
Premiums and deposits increased by 14 per cent to $16.4 billion as at December 31, 2005 compared to
$28.25625 per share was
also declared on the Non-cumulative Class A Shares Series 1 of the Company,
payable on and after March 19, 2006 to shareholders of record at the close of
business on February 21, 2006. A dividend of $0.5 billion.S.

- Premiums and deposits of $516 million were below the prior year
quarter by two per cent, driven by the discontinued sales of
brokered certificates of deposits in 2005 . Full year net income was $809 million
compared to $614 million in 2004.
dollar basis, total Reinsurance Division premiums reported in the
quarter are consistent with those in the fourth quarter of 2004. ET February 9, 2006. You may access the webcast at:
http: //www.manulife. Guaranteed + Canadian
Protection Wealth Structured
Management Financial
Premiums and deposits Products
------------------------------------------------------- ------------------
General fund premiums $ 4,710 $ 1,344 $ 1,056 $ 5,259
Segregated fund deposits 1,106 17,145 31 3,116
Mutual fund deposits - 3,622 - 973
ASO premium equivalents - - - 1,710
Other fund deposits - 980 554 -
-------------------------------------------------------------------------
Total $ 5,816 $ 23,091 $ 1,641 $ 11,058
------------------------- ------------------------------------------------
-------------------------------------------- -----------------------------

Net income $ 467 $ 397 $ 212 $ 617
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Funds under management As at December 31, 2004
--------------------------------------------------- ----------------------
General fund $ 46,148 $ 20,836 $ 35,302 $ 38,787
Segregated funds 10,953 72,186 4,965 19,422
Mutual funds - 30,140 - 2,348
Other funds - 5,874 - -
---------------------------------------------------- ---------------------
Total $ 57,101 $129,036 $ 40,267 $ 60,557
-------------------------------------------------------------------------
----------- --------------------------------------------------------------

For the year ended December 31, 2004
----------------- ----------------------------
Asia Reinsurance Corporate Total
and Japan and
Premiums and deposits Other
----------------------------------------------------- --------------------
General fund premiums $ 2,936 $ 982 $ - $ 16,287
Segregated fund deposits 3,591 - 115 25,104
Mutual fund deposits 1,214 - - 5,809
ASO premium equivalents - - - 1,710
Other fund deposits - - - 1,534
-------------------------------------------------------------------------
Total $ 7,741 $ 982 $ 115 $ 50,444
------------------- ------------------------------------------------------
-------------------------------------- -----------------------------------

Net income $ 487 $ 230 $ 141 $ 2,551
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Funds under management As at December 31, 2004
---------------------------------------- ---------------------------------
General fund $ 16,135 $ 2,747 $ 9,187 $169,142
Segregated funds 7,910 - 2,134 117,570
Mutual funds 1,986 - - 34,474
Other funds 2,078 - 18,219 26,171
---------------------------------------------- ---------------------------
Total $ 28,109 $ 2,747 $ 29,540 $347 ,357
-------------------------------------------------------------------------
------- ------------------------------------------------------------------

Note 2: Comparatives
Certain comparative amounts have been reclassified to conform with the
current period 's presentation.

advantaged mattis

9 - Manulife Financial Corporation
today reported 2005 shareholders' net income of $3,294 million, an increase of
29 per cent over 2004.14, up 23 per cent over the same period a year ago. Other records set in the fourth quarter include:

- Record variable annuity sales in the United States and Japan;
- U.
For the year ended December 31, 2005, shareholders' net income was
$3,294 million, an increase of 29 per cent from the $2,550 million reported in
2004.9 billion to $372.0 129. On a U.4 40. Partially
offsetting the increase was lower premiums from fixed interest
products due to a consumer preference for equity -based investments
in the current low interest rate environment.

- Funds under management as at December 31, 2005, were
$69.4

- The Asia and Japan Division's shareholders' net income of
$228 million in the fourth quarter of 2005 was $108 million higher
than for the same period last year.
The growth also reflects the impact of equity market value
appreciation. 5045).92 $ 4.

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The company 's clients also include
financial planners, brokers, mutual fund firms, private bankers and
small money managers.6 per cent higher
than last year.11 3.

QUARTERLY PERFORMANCE BY DIVISION

U. Protection's 2005 fourth quarter shareholders' net income of
$178 million increased by 19 per cent from the $149 million
reported in the fourth quarter of 2004.9 billion were above the
$57. Wealth Management

Canadian dollars Quarterly Results Year Ended
4Q05 3Q05 4Q04 2005 2004
---- ---- ---- - --- ----
Shareholders' Net Income
(millions) 151 163 116 585 397
Premiums + Deposits (millions) 7,508 7,772 6,237 28,433 23 ,091
Funds under Management
(billions) 142.S.2

- U. Annuities'
premiums and deposits increased by 59 per cent, reflecting
continued strong market acceptance of the variable annuity
Principal Plus For Life withdrawal benefit introduced in May 2005.5 36.2 billion reported for the same period
last year. The decrease was primarily a
result of lower premiums in the International Group Program line
partially offset by increases in the other businesses.

Financial Highlights
(Canadian $ in millions unless otherwise stated and per share
information , unaudited)

As at and for the As at and for
three months ended the year ended
December 31 December 31
% %
2005 2004 Change 2005 2004 Change
-------------------------------------------------------------------------
Net income $ 900 $ 761 18 $ 3,291 $ 2,551 29
Less: net income
(loss ) attributed
to participating
policyholders (8) 5 N/A (3) 1 N/A
-------------------------------------------------------------------------
Net income attributed
to shareholders $ 908 $ 756 20 $ 3,294 $ 2 ,550 29
Preferred share
dividends (5) - N/A (14) - N/A
-------------------------------------------------------------------------
Net income available to
common shareholders $ 903 $ 756 19 $ 3,280 $ 2,550 29
-------------------------------------------------------------------------
------ -------------------------------------------------------------------

Premiums and deposits:
Life and health
insurance premiums $ 3,748 $ 3,714 1 $ 14,687 $ 12,934 14
Annuity and pension
premiums 1,065 985 8 3,900 3,353 16
Segregated funds
deposits 8,844 6,477 37 31 ,786 25,104 27
Mutual fund deposits 1,603 2,169 (26) 7,408 5,809 28
ASO premium equivalents 562 527 7 2,150 1,710 26
Other fund deposits 458 416 10 1,536 1,534 0
----------------------------------------- --------------------------------
Total premiums and
deposits $ 16,280 $ 14,288 14 $ 61,467 $ 50,444 22
------------------------------------------------------ -------------------
-------------------------------------------------------------------------

Funds under management:
General fund $167,232 $169,142 (1)
Segregated funds 139,695 117,570 19
Mutual funds 34,564 34,474 0
Other funds 30,782 26,171 18
------------------------------------ -------------------------------------
Total funds under
management $372,273 $347,357 7
-------------------------------------------------- -----------------------
--------------------------------------------------------------------- ----

Capitalization:
Long-term debt $ 2,457 $ 2,948 (17)
Liabilities for
preferred shares and
capital instruments 1,922 1,950 (1)
Non-controlling interest
in subsidiaries 187 136 38

Equity
Participating
policyholders' equity 157 150 5
Shareholders' equity
Preferred shares 344 - N/A
Common shares 14,490 14,646 (1)
Contributed surplus 93 102 (9)
Retained earnings and
currency translation
account 8,703 8,203 6
---------------- ---------------------------------------------------------
Total capital $ 28,353 $ 28,135 1
------------------------------------------------------- ------------------
-------------------------------------------------------------------------

Selected key performance
measures:
Basic earnings per
common share $ 1.62

(x) Includes impact from benefits and withdrawals from G+SFP of
$1.

csrs mattis

Ibbotson will also serve as the subadvisor to a
fund-of-funds in a variable annuity.

Manulife Financial Corporation reports record annual and quarterly results

65 reported a year ago. The company is now authorized to operate in twelve cities
in China, the most of any foreign insurer in mainland China.14 0. Earnings in the Individual Insurance
business were consistent with prior year as increased sales and
in-force business growth were offset by lower mortality gains
compared to the strong experience in 2004.

- Premiums and deposits of $1. This increase was primarily driven by growth in
Individual Wealth Management segregated fund deposits and by new
sales in Group Savings and Retirement Solutions.
Premium growth was driven by variable annuity sales in Japan and
the insurance businesses in Hong Kong and Singapore. Full year net loss
was $108 million compared to net income of $230 million in 2004.com/QuarterlyReports.manulife. We do not undertake to update any
forward -looking statements.92 $ 4.07 $ 3.

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The Managed Allocation Portfolios combine the asset allocation
expertise of Ibbotson Associates Advisors, LLC with the multi-managed
equity portfolios available to Seasons investors.
Ibbotson Associates Advisors, LLC is a wholly owned subsidiary of
Ibbotson Associates. For the three months ended December 31, 2005, return on common
shareholders ' equity was 15.5 per cent compared to 13.6

- Canadian Division shareholders' net income for the fourth quarter
of $199 million increased by 14 per cent from the $175 million
reported in the fourth quarter of 2004. The fourth quarter of
2004 included a charge of $11 million related to the Tsunami.S. On a U. This segment also includes the John Hancock
Accident and Health operations, which are primarily contracts in
dispute .

- Corporate and Other reported fourth quarter net income of
$116 million , an increase of $67 million from the fourth quarter
of 2004. Each of these documents may be downloaded
before the webcast begins. Important factors that could cause actual results
to differ materially from these expectations include, among other things:
general economic conditions worldwide; market factors, including global
capital market activity; interest rate and currency value fluctuations;
business competition; changes in government regulations or in tax laws;
technological changes; changes in consumer demand for the our products and
services; our ability to increase revenue from the expansion and development
of distribution channel capacity; our ability to complete strategic
acquisitions and to integrate acquisitions successfully; catastrophic events;
political conditions and developments; international conflicts; and our
success in anticipating and managing the foregoing factors.13 $ 0. U.

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In the United States, AIG
companies are the largest underwriters of commercial and industrial
insurance, and AIG American General is a top-ranked life insurer. "This continues our exceptional track record of
strong earnings growth with an average annual growth rate of more than
20 per cent over the past decade.3 billion, 14 per cent higher than
the fourth quarter of 2004; and
- Funds under management of $372.65
Return on Common Shareholders '
Equity (%, annualized) 15.3 billion and the addition
of $350 million of preferred shares issued on February 10, 2005 were largely
offset by shareholder dividends of $940 million, the repurchase of 21 million
common shares for $1. Under the previous normal
course issuer bid , which commenced on November 9, 2004, Manulife Financial
purchased 26,048,500 common shares for a total price of $1. Offsetting the increase was the
negative impact of the stronger Canadian dollar and lower Variable
Universal Life premiums and deposits.0 billion reported in 2004 .6 billion to $31.S. For local and
international locations, please call (416) 695-5261 and toll free in North
America please call (877) 888-3855. You will be required to provide your name and organization to the
operator.0% 14.9 billion in Q4 2004 and $6.S.S.