BTO John Hancock Financial Opportunities Fund

John Hancock Bank and Thrift Opportunity Fund Declares Year-End Managed Distribution BOSTON, Dec. 3 /PRNewswire-FirstCall/ -- John Hancock Bank and Thrift Opportunity Fund (NYSE:BTO) declared its year-end distribution pursuant to the fund's 10% managed distribution policy today as follows: Declaration date: December 3, 2004 Ex-dividend date: December 9, 2004 Record date: December 13, 2004 Payment date: December 31, 2004 Source of Distribution Per Share Dividend income $0.12627 Long-term capital gain $0.13139 Short-term capital gain $0.01234 Total $0.27000 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. For the calendar year-ending 2004, the plan requirements have been met. The last three managed distributions were as follows: Declaration Date Per Share March 5, 2004 $0.27000 (long-term capital gain) June 4, 2004 $0.27000 (long-term capital gain) September 3, 2004 $0.27000 (long-term capital gain) As of the fund's most recent semiannual reporting period ended April 30, 2004, BTO had over $865 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 October 31, 2004, BTO posted an average annual total return at net asset value of 17.93%; 3-year, 19.07%; 5-year, 11.47% and 10-year return, 17.76%. 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, a premier investment management company, managed approximately $29 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors as of September 30, 2004. Additional information about the company can be found on the website: 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. Funds under management by Manulife Financial and its subsidiaries were Cdn$346 billion (US$274 billion) as at September 30, 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/. DATASOURCE: John Hancock Funds CONTACT: Kimberley Dietrich, +1-617-375-0311, or Investors: +1-800-843-0090, both of John Hancock Web site: http://www.manulife.com/

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