John Hancock Closed-End Funds Declare Monthly Distributions

BOSTON, Dec. 1  /PRNewswire-FirstCall/ -- Three John Hancock closed-end funds declared their monthly distributions today as follows:

  Declaration Date:    December 1, 2008
  Ex Date:             December 11, 2008
  Record Date:         December 15, 2008
  Payment Date:        December 31, 2008



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

  HPI    Preferred Income Fund      $0.1550         16.56%          -
  HPF    Preferred Income Fund II   $0.1550         16.71%          -
  HPS    Preferred Income Fund III  $0.1320         16.11%          -


  About John Hancock Funds


The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds manages more than $47.9 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at September 30, 2008. John Hancock Funds are distributed by John Hancock Funds, LLC, member FINRA. For more information, please visit http://www.jhfunds.com/.

John Hancock Financial Services 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$385 billion (US$364 billion) at September 30, 2008. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial may be found on the Internet at http://www.manulife.com/.

*Based on November 28, 2008 closing market price 

DATASOURCE: John Hancock Advisers, LLC



CONTACT:  Media, Kimberley Dietrich, [phone]; or Investors,

[phone]



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

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