BOSTON, June 19, 2000 - Growing demand for investments that contribute positively to the global environment has led the Hancock Natural Resource Group (HNRG) to establish a new, Sydney-based global forest carbon sequestration program.

In an announcement today, HNRG president and chief executive officer Bill Coleman said the program will be directed by Dr. David Brand, who is currently an executive general manager of State Forests of New South Wales.

The new program will be designed to provide investors with opportunities in the emerging "green economy" for forests. These investment products will appeal as a hedge to investors in traditional industry sectors as well as meeting the criteria of ethical investment funds. They also can provide part of a risk management strategy for corporations with greenhouse gas emissions.

"This program demonstrates our belief that many of our global environmental challenges can be met through the re-establishment of forests," Coleman said. "Investing in these new forests can also be part of a portfolio of industry responses to the need to reduce net greenhouse gas emissions.

"Locating Dr. Brand's office in Sydney builds on the pioneering work of the NSW government in introducing the world's first carbon sequestration rights over planted forests and will allow direct access to the new carbon sequestration credit market being developed by the Sydney Futures Exchange."

According to Dr. Brand, "The green sector, in particular, is emerging as one of the most rapidly growing areas of investment in many regions of the world. Catering to these investors will require products that meet a broad range of social and environmental criteria."

State Forests of New South Wales and Melbourne-based Hancock Victorian Plantations (HVP), respectively, the largest timber growers of planted forests in NSW and Victoria, last August reached an agreement to establish a common system for accounting for the carbon stored in trees. HVP is a subsidiary of John Hancock Financial Services (NYSE: JHF) and is managed by the Hancock Timber Resource Group of HNRG.

Dr. Brand, who is Canadian, is expected to begin work with HNRG in its Australian subsidiary in mid-July after certain administrative procedures have been completed. He will be employed by Hancock Natural Resource Group of Australia Pty. Ltd.

Dr. Brand has a distinguished career both in government and academia. At State Forests of NSW, he acted as a deputy chief executive officer of Australia's largest forestry agency, with 2.13 million hectares of natural forests and 260,000 hectares of plantation forests under management.

Prior to his assignment there, he spent five years with the Canadian Forest Service as director, environment; director, sustainable development; and director-general, science and sustainable development. He began his career in the forest service in 1985 as research scientist, silviculture; and program director, forest management systems.

He is the recipient of numerous awards in Canada from the Public Service of Canada, the Canadian Forest Service, the Department of Natural Resources Canada and other organizations. In Australia, he was influential in the design and implementation of new markets and investment products related to addressing greenhouse gas emissions, and has worked to establish similar mechanisms for controlling dryland salinity and conserving biodiversity.

He is the author of three books and dozens of published articles on a wide range of subjects related to forestry, forest management, environment and carbon sequestration. Dr. Brand earned his Ph.D. at the University of British Columbia and prior to that held forestry positions with the British Columbia Provincial Forest Service and Weldwood of Canada.

Hancock Natural Resource Group is the world's leading forest and agricultural investment management organization for institutional clients, with $3.2 billion and 3.2 million acres under management.

John Hancock is a leading U.S. financial services company, providing a broad array of insurance and investment products and services to retail and institutional customers. As of March 31, 2000, John Hancock and its subsidiaries had total assets under management of $128.2 billion.