John Hancock Closed-end Funds Declare Monthly Dividends

BOSTON, May 1 /PRNewswire-FirstCall/ -- Four John Hancock closed-end funds declared their monthly dividends today as follows:

Declaration Date: May 1, 2008
Ex Date: May 9, 2008
Record Date: May 13, 2008
Payable Date: May 30, 2008

Annualized Rate Change from
Ticker Fund Name Amount Yield at Market* Previous Month
PDT Patriot Premium Dividend
Fund II $0.0480 6.08% - HPI Preferred Income Fund $0.1550 9.02% - HPF Preferred Income Fund II $0.1550 9.01% - HPS Preferred Income Fund III $0.1320 8.44% -

About Manulife Financial and John Hancock

John Hancock Funds, the mutual fund business unit of John Hancock Financial Services, offers a broad array of investment products, including open-end and closed-end funds, privately managed accounts, 529 plans and retirement accounts to retail and institutional investors. John Hancock Funds are distributed by John Hancock Funds, LLC, member FINRA. As of December 31, 2007, investors entrusted John Hancock Funds with approximately $56.8 billion in assets. Additional information about John Hancock Funds can be found on the website: http://www.jhfunds.com/.

John Hancock is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. 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. Funds under management by Manulife Financial and its subsidiaries were Cdn$396 billion (US$401 billion) as of December 31, 2007. 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 http://www.manulife.com/.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, mutual funds, 401(k) plans, long term care insurance, college savings, and other forms of business insurance.

*Based on April 30, 2008 closing market price

First Call Analyst:
FCMN Contact:

Source: John Hancock Advisers, LLC

CONTACT: Media, Kimberley Dietrich, +1-617-663-4217, or Investors,
+1-800-843-0090, both of John Hancock Advisers, LLC

Web site: http://www.jhfunds.com/
http://www.manulife.com/

2008-05-01 17:59:08 0351070 PRNEWSWIRE