BOSTON, Dec. 3 /PRNewswire-FirstCall/ -- Four John Hancock closed-end funds declared their monthly dividends and capital gain distributions today as follows: Declaration Date: December 3, 2007 Ex Date: December 11, 2007 Record Date: December 13, 2007 Payable Date: December 31, 2007 Monthly Annualized Per Share Per Share Total Income Yield at Short-Term Long -Term Per Capital Capital Share Fund Name Dividend Market* Gain Gain Distribution Patriot Premium Dividend Fund II (PDT) $0.0480 5.72% . $0.01396 $0.06196 Preferred Income Fund (HPI) $0.1550 8.88% $0.03380 $0.11919 $0.30799 Preferred Income Fund II (HPF) $0.1550 9.16% $0.00145 $0.00435 $0.16080 Preferred Income Fund III (HPS) $0.1320 8.51% $0.19779 . $0.32979 The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds manages more than $59 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at September 30, 2007. For more information, please visit http://www.jhfunds.com/. About Manulife Financial and John Hancock 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$399 billion (US$400.5 billion) at September 30, 2007. 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 30, 2007 closing market price DATASOURCE: John Hancock Advisers, LLC CONTACT: Media, Kimberley Dietrich, +1-617-663-4217, or Investors, +1-800-843-0090, both of John Hancock Advisers, LLC Web site: http://www.jhfunds.com/ http://www.manulife.com/

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