John Hancock Funds Names Richard A. Brown to Chief Financial Officer

Business Wire, Jan 2, 2001

Business Editors

BOSTON--(BUSINESS WIRE)--Jan. 2, 2001

John Hancock Funds announced today that it has named Richard A. Brown chief financial officer, treasurer and senior vice president of the company. He replaces Osbert Hood, who resigned from the firm last month to pursue other opportunities.

Mr. Brown has been with the John Hancock organization since 1971, most recently as second vice president and senior associate controller of the corporate tax department at John Hancock Funds' parent company, John Hancock Financial Services, Inc., (NYSE:JHF). In this role, he directed a team of professionals who provide research, reporting, preparation, compliance and tax filing services for all business groups within John Hancock. Mr. Brown holds a bachelor's degree in accounting and a master of science degree in taxation from Bentley College.

Maureen Ford, chief executive officer of John Hancock Funds, said, "We are committed to establishing a strong management team that will enable us to take John Hancock Funds to the next level. The wealth of knowledge and expertise that Dick brings to this team will help us serve the needs of our various constituencies, including investors, customers and employees."

Mr. Brown said, "Maureen and her innovative management team present a unique opportunity to work with one of the fastest-growing firms in the John Hancock organization. I am excited to play a role in the firm's future success."

John Hancock Funds, a global investment management firm, manages more than $30 billion in open-end funds, closed-end funds, private accounts, variable annuities and retirement plans for individual and institutional investors.

John Hancock Funds is a wholly owned subsidiary of John Hancock Financial Services, Inc. John Hancock and its affiliated companies provide a broad array of insurance and investment products and services to retail and institutional customers. As of September 30, 2000, John Hancock Financial Services and its subsidiaries had total assets under management of $127.8 billion.