John Hancock Patriot Preferred Dividend Fund Reports First Quarter Earnings

BOSTON, Sept. 26  /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 $2,056,895 for the first quarter ended August 31, 2006.  For the comparable period in 2005, net investment income was $1,887,869.

As of August 31, 2006, the net asset value per share was $13.99 with total net assets of $154,014,972* and 7,257,200 common shares outstanding. Comparable figures for August 31, 2005 reflect a net asset value per share of $14.46, total net assets of $157,414,328* and 7,257,200 common shares outstanding.

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.  As of June 30, 2006, investors entrusted John Hancock Funds with $47.5 billion in assets. Additional information about John Hancock Funds can be found on the website: http://www.jhfunds.com/.

About Manulife Financial

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 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$370 billion (US$332 billion) as at June 30, 2006.

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:

[phone], both of John Hancock



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

http://www.manulife.com/ 

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