PPF Hancock John Patriot Pfd Div

BOSTON, March 29 /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 $2,014,207 for the third quarter ended February 28, 2007. For the comparable period in 2006, net investment income was $2,114,666. As of February 28, 2007, the net asset value per share was $14.39 with total net assets of $156,901,710* and 7,257,200 common shares outstanding. Comparable figures for February 28, 2006 reflect a net asset value per share of $14.34, total net assets of $154,756,614* 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 December 31, 2006, investors entrusted John Hancock Funds with $54.4 billion in assets. 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$414 billion (US$355 billion) as at December 31, 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/. 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 life insurance, fixed and variable annuities, mutual funds, 401(k) plans, long term care insurance, college savings, and other forms of business insurance. * Total net assets include value of preferred shares DATASOURCE: John Hancock Patriot Preferred Dividend Fund CONTACT: Kimberley Dietrich, +1-617-663-4217 or Investors: +1-800-843-0090 both of John Hancock Web site: http://www.jhfunds.com/ http://www.manulife.com/

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