Manulife Investor Day Highlights

RBC Capital Markets, 15 June 2006� Price Weakness A Buying Opportunity. After holding in better than other large cap Financials, Manulife was caught in the market downdraft yesterday, in our view, creating a buying opportunity. We target-price Manulife at 16.5x estimated forward earnings of $2.89, for $43.� Acquisitions Not Required. At Tuesday�s Investor Day CEO Domenic D�Alessandro stressed