Group Annuity Solutions for Today s Pension Plan Sponsors.

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1 G R O U P S I N G L E P R E M I U M A N N U I T Y G U A R A N T E E D M O N T H L Y I N C O M E G R O U P A N N U I T Y Group Annuity Solutions for Today s Pension Plan Sponsors.

2 John Hancock has more than three decades of continuous experience in issuing Group Annuity contracts for pension plans. We can provide a Group Single Premium Annuity (GSPA) or a Guaranteed Monthly Income Group Annuity (GMIA). We understand and have handled the issues that can arise when a plan sponsor chooses to guarantee participant benefits. John Hancock will be with you every step of the way from installation to the last participant s annuity payment.

3 O V E R V I E W John Hancock has consistently been one of the top single premium group annuity issuers since the 1970 s 1. Because of our growing volume of such business, in 1983 we established a separate Group Annuity Division dedicated to the product line. We believe it is our commitment to superb contract administration service that sets John Hancock apart from its competitors. And quality customer service, for both the plan sponsor and the participant, remains our goal. By utilizing John Hancock s Group Annuities, plan sponsors can transfer all or a portion of their qualified and nonqualified pension plan obligations to John Hancock, removing corresponding plan liabilities from their balance sheet with the payment of a single premium. Our Group Annuities can also significantly reduce plan administration costs. P R O D U C T D E S C R I P T I O N GSPA GROUP SINGLE PREMIUM ANNUITY GMIA GUARANTEED MONTHLY INCOME GROUP ANNUITY A Group Single Premium Annuity (GSPA) only requires a single premium payment that purchases a guaranteed income stream 2 for a group of plan participants. GSPAs are particularly well-suited for plan spin-offs or plan terminations. Payments commence at a specified point, typically upon the retirement of each participant. GSPAs are appropriate for both defined benefit and defined contribution programs in the qualified and non-qualified market. Guaranteed Monthly Income Group Annuity (GMIA) provides the facility to purchase annuities for participants on an as-needed basis immediately or in the future. The GMIA is designed to utilize institutional pricing to meet the liability associated with participants commencing benefits. The John Hancock GMIA addresses the benefit purchase needs of both defined benefit and defined contribution plans for qualified and non-qualified employee benefit programs. 1 LIMRA International/Stable Value Investment Association, Year End Based on the claims paying ability of John Hancock

4 P R O D U C T U S E S John Hancock s Group Annuity products can be used effectively for: We accommodate annuity purchases from all of the following (but not limited to): Plan Terminations Spin-Offs Plant Shutdowns Mergers/Acquisitions Reducing Plan Administration Costs Bankruptcy FAS (Financial Accounting Standards) 88 Settlements Qualified Plans _ 401(a) Defined Benefit Plans _ 401(k) Defined Contribution Plans _ Money Purchase Plans _ Profit Sharing Plans _ Cash Balance Plans Nonqualified Deferred Compensation Plans _ Excess Benefit Plans _ Supplemental Executive Retirement Plans (SERP) _ 457 Plans _ Top Hat Plans Corporate Sponsored Sweepstakes Lotteries O U R C O M P E T I T I V E A D V A N T A G E Our Group Annuity Division is a dedicated unit under one Director. That means that sales, installation and administration are coordinated under a single manager in one location. Over the last thirty years John Hancock has established a reputation as one of the premier providers of annuity payment services. John Hancock s Group Annuity Division has established strict Quality Assurance Programs and utilizes state of the art, high capacity systems for efficient benefit administration. We believe we provide the best annuity payment services in the industry. Since 1998, we have successfully installed five Jumbo annuity placements, ranging in premium from $143 million to $369 million. As of January 31, 2003, John Hancock was paying $105,000,000 in monthly periodic payments, servicing 264,000 total lives in pay status. We make payments to thousands of participants from over 40 foreign countries, including, Canada, Austria, France, Portugal, Israel, Japan, Greece, Mexico, Italy, England, and Germany. Our experience helps set us apart from our competitors and hold our competitive edge.

5 C U S T O M E R S E R V I C E Providing top quality customer service is a goal second to none. For every group annuity placement, John Hancock will develop a customized installation program. This process includes an onsite visit to the plan sponsor/administrator to review all aspects of the program. We work with the client to effect a smooth conversion. We pay special attention to the services that we provide to plan participants and their beneficiaries. With every John Hancock group annuity contract, a customer service team is assigned to design the annuity payment package. Payees can call our customer service representatives at our toll-free number. We have the ability to put up to 50 customer service representatives on the line at any one time. L E T U S M A N A G E T H E R I S K, S O Y O U C A N M A N A G E Y O U R B U S I N E S S C A L L ASK-JHGA ( ) JHGroupAnnuity@jhancock.com JHGroupAnnuity.com

6 Insurance products offered through John Hancock Life Insurance Company, Boston, MA GMIASPA 3/1/2003