John Hancock Closed-End Funds Declare Monthly Dividends

BOSTON, June 2 /PRNewswire-FirstCall/ -- Four John Hancock closed-end funds declared their monthly dividends today as follows:

Declaration Date: June 2, 2008
Ex Date: June 9, 2008
Record Date: June 11, 2008
Payable Date: June 30, 2008

Annualized Rate Change from
Ticker Fund Name Amount Yield at Market* Previous Month

PDT Patriot Premium $0.0480 5.98% - Dividend Fund II

HPI Preferred Income Fund $0.1550 8.91% -
HPF Preferred Income Fund $0.1550 9.07% - II

HPS Preferred Income Fund $0.1320 8.42% - III

About Manulife Financial and John Hancock

The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds manages more than $54.1 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at March 31, 2008. John Hancock Funds are distributed by John Hancock Funds, LLC, member FINRA. For more information, please visit 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$400 billion (US$389 billion) as of March 31, 2008. 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/.

*Based on May 30, 2008 closing market price

First Call Analyst:
FCMN Contact:

Source: John Hancock Advisers, LLC

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

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

2008-06-02 17:46:11 0375327 PRNEWSWIRE