John Hancock Closed-End Funds Declare Monthly Distributions

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

  Declaration Date:  September 2, 2008
  Ex Date:           September 12, 2008
  Record Date:       September 16, 2008
  Payable Date:      September 30, 2008


                                                                 Rate Change
                                                     Annualized     from
  Ticker  Fund Name                         Amount     Yield at    Previous
                                                       Market*      Month
  PDT     Patriot Premium Dividend Fund II  $0.0480     6.64%        -
  HPI     Preferred Income Fund             $0.1550    10.51%        -
  HPF     Preferred Income Fund II          $0.1550    10.39%        -
  HPS     Preferred Income Fund III         $0.1320     9.23%        -


  About John Hancock Funds


The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds manages more than $54.8 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at June 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$400 billion (US$393 billion) at June 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 August 29, 2008 closing market price 

DATASOURCE: John Hancock Advisers, LLC



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

[phone]



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

http://www.manulife.com/

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