Manulife Financial Corporation Declaration of a Dividend

February 18, 2000 PSE CIRCULAR FOR BROKERS NO. 403-00 February 17, 2000 By Fax and By Courier The Toronto Stock Exchange Fax: (416) 947-4585 New York Stock Exchange Fax: (212) 656-5893 The Stock Exchange of Hong Kong Limited Fax: (859) 2537 9502 and (852) 2868 5028 Philippine Stock Exchange Fax: (632) 636 0809 or (632) 634 2051 Dear Sirs/Mesdames : RE : Manulife Financial Corporation Declaration of a Dividend We hereby confirm that the Board of Directors of Manulife Financial Corporation today approved the payment of a quarterly dividend of Cdn$.10 per share for the quarter ended December 31, 1999, on common shares of the Company, payable April 28, 2000 to shareholders of record at the close of business on March 20, 2000 (Toronto time). cdll Canadian withholding tax in the amount of 15 per cent will apply to dividends paid to shareholders resident in the United States and the Philippines and 25 per cent with respect to dividends paid to shareholders resident in Hong Kong. If you have any questions regarding this notice, please contact me at (4}6) 926-3427. prcd Yours truly, (SGD.) KAY Y. SONG