BTO John Hancock Financial Opportunities Fund

BOSTON, March 3 /PRNewswire-FirstCall/ -- John Hancock Bank and Thrift Opportunity Fund (NYSE:BTO) declared its quarterly distribution pursuant to the fund's 10% managed distribution policy today as follows: Declaration date: March 3, 2006 Ex-dividend date: March 9, 2006 Record date: March 13, 2006 Payment date: March 31, 2006 Source of Distribution Per Share Income $0.04044 Long-term capital gain $0.22056 Total $0.26100 The plan requires the fund to make quarterly distributions of at least 2.5 percent of the fund's net asset value as of the preceding calendar year-end, or at least 10 percent annually. To maximize tax efficiency, the distributions will come first from net long-term capital gains, followed by ordinary income, net short-term gains, and if necessary, a return of capital. Because net assets of the fund will vary following each year-end, the quarterly distribution may represent more or less than 2.5 percent of the fund's net assets at the time of distribution. Also, if the distributions under the plan are less than the amount the fund is required to distribute under the Internal Revenue Code, the fund will distribute more than required under the plan. The fund's board of trustees will periodically review the plan to evaluate its effectiveness in reducing the fund's discount to net asset value. Based on the December 31, 2005 Year-End Net Asset Value of $879,052,273 and 84,400,000 shares outstanding, the fund will pay at least $0.2603825 per share/per quarter or $1.04153 per share/annually. As of the fund's most recent annual reporting period ended October 31, 2005, BTO had over $887 million in net assets of which 54% was net unrealized appreciation of investments. For individual taxable accounts, long-term capital gains are subject to at a maximum Federal tax rate of 15%. For the 1- year period ending January 31, 2006, BTO posted an average annual total return at net asset value of 7.34%; 3-year, 17.69%; 5-year, 12.05% and 10-year, 14.05%. John Hancock Bank and Thrift Opportunity Fund is a diversified, closed-end fund. The Fund seeks long-term capital appreciation by normally investing at least 80% of its assets in equity securities of U.S. regional banks and thrifts and holding companies that primarily own or receive a substantial portion of their income from regional banks or thrifts. 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 December 31, 2005, investors entrusted John Hancock Funds with more than $43.8 billion. Additional information about John Hancock Funds can be found on the website: http://www.jhfunds.com/. About Manulife Financial and John Hancock John Hancock 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$372 billion (US$319 billion) as at December 31, 2005. 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/. The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including universal life insurance, variable life, term life and whole life, as well as college savings products, fixed and variable annuities, long-term care insurance, mutual funds, 401(k) plans and various forms of business insurance. DATASOURCE: John Hancock Bank and Thrift Opportunity Fund CONTACT: Kimberley Dietrich, +1-617-663-4217 or Investors: +1-800-843-0090, both of John Hancock Web site: http://www.jhfunds.com/

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