John Hancock Patriot Preferred Dividend Fund Reports Fourth Quarter Earnings

John Hancock Patriot Preferred Dividend Fund Reports Fourth
Quarter Earnings 


BOSTON, July 15  /PRNewswire-FirstCall/ -- John Hancock Patriot Preferred
Dividend Fund (NYSE:PPF), a closed-end fund managed by John Hancock Advisers,
LLC, reported today that net investment income was $2,028,683 for the fourth
quarter ended May 31, 2004.  For the comparable period in 2003, net investment
income was $2,471,239.

As of May 31, 2004, the net asset value per share was $12.97 with total net
assets of $146,647,901* and 7,257,200 common shares outstanding. Comparable
figures for May 31, 2003 reflect a net asset value per share of $13.06, total
net assets of $147,244,066* and 7,257,200 common shares outstanding.

John Hancock Funds, a premier investment management company, managed $30.2
billion in open-end funds, closed-end funds, private accounts and retirement
plans for individual and institutional investors as of March 31, 2004.
Additional information about John Hancock Funds can be found at
http://www.jhfunds.com/.

John Hancock Funds is a wholly owned subsidiary of John Hancock Financial
Services, Inc., a subsidiary of Manulife Financial Corporation. Founded in
1862, John Hancock Financial Services and its subsidiaries today offer a broad
range of financial products and services, including whole, term, variable, and
universal life insurance, as well as college savings products, mutual funds,
fixed and variable annuities, long-term care insurance and various forms of
business insurance.

Manulife Financial is a leading Canadian-based financial services group serving
millions of customers in 19 countries and territories worldwide. Operating as
Manulife Financial in Canada and most of 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. Pro forma
funds under management by Manulife Financial and its subsidiaries were Cdn$356
billion (US$272 billion) as at March 31, 2004. 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/.

* Total net assets include value of preferred shares 

DATASOURCE: John Hancock Patriot Preferred Dividend Fund



CONTACT: Kimberley Dietrich, [phone], or Investors: +1-800-843-

0090, both of John Hancock

Copyright