PPF Hancock John Patriot Pfd Div

John Hancock Patriot Preferred Dividend Fund Reports First Quarter Earnings BOSTON, Sept. 28 /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 $1,890,986 for the first quarter ended August 31, 2004. For the comparable period in 2003, net investment income was $1,769,666. As of August 31, 2004, the net asset value per share was $13.59 with total net assets of $151,153,676* and 7,257,200 common shares outstanding. Comparable figures for August 31, 2003 reflect a net asset value per share of $12.55, total net assets of $143,546,972* and 7,257,200 common shares outstanding. John Hancock Funds, a premier investment management company, managed $27 billion in open-end funds, closed-end funds, private accounts and retirement plans for individual and institutional investors as of June 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$360 billion (US$269 billion) as at June 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/. * Total net assets include value of preferred shares DATASOURCE: John Hancock Patriot Preferred Dividend Fund CONTACT: Kimberley Dietrich, +1-617-375-0311, or Investors: +1-800-843-0090, both of John Hancock

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