Financial Strength Choosing any financial partner requires a great deal of evaluation. Customers should look for a company that gives them the information they need to make an intelligent purchase decision. They should look for a company with proven expertise in the areas that relate directly to their own specific needs. Ratings Summary1 Customers should carefully check every company's credentials. One of the best ways to do this is to look at the ratings from the top independent agencies that assess a company's financial condition and safety. We are proud of the financial ratings we have earned from these agencies, which have confirmed Manulife New York's outstanding strength. Independent insurance experts have recommended that consumers look for a company with high ratings from at least two of these agencies. Manulife New York has earned three such high ratings. Financial Strength Ratings A.M. Best A++ (Superior) (Highest rating) Superior companies … very strong ability to meet their obligations. Fitch AA+ (Very Strong) Very strong capacity to meet policyholder and contract obligations. Standard & Poor's AA+ (Very Strong) Very strong financial security characteristics, differing only slightly from those rated higher. 1 These ratings, which are current as of 04/30/04 and are subject to change, are assigned to The Manufacturers Life Insurance Company of New York as a measure of the company's ability to honor the death benefit, fixed account and life annuitization guarantees, but not specifically to its products, the performance (return) of these products, the value of any investment in these products upon withdrawal or to individual securities held in any portfolio. These ratings do not apply to the safety and performance of separate accounts. Current Financial Information2 Financial Strength Capital & surplus (or net worth, i.e., the difference between assets and liabilities) is a useful indicator of financial strength. As of September 30, 2004, Manulife New York's surplus stood at $64,678,291. Premiums & Deposits Total premiums and deposits for Manulife New York were $709,445,207 for the first nine months of 2004. Liabilities & Reserves As of September 30, 2004, total liabilities and reserves for Manulife New York were $3,052,088,864 including separate accounts and $372,369,352 excluding those accounts. Total Admitted Assets The value of a company's assets is an effective measure of size. Manulife New York's assets are primarily bonds and short-term investments in addition to separate accounts managed on a pooled basis for the benefit of individual customers and group accounts. As of September 30, 2004, total admitted assets for Manulife New York were $3,116,767,155 including separate accounts and $437,047,643 excluding those accounts. 2 All data taken from the unaudited 09/30/2004, Manulife New York statutory basis financial statement filed with the New York Department of Insurance. All figures in U.S. dollars.