McCamish Systems Software Release Enhances John Hancock Variable Life Insurance Company's Variable Universal Life Administration Capabilities

This VPAS® Life release illustrates the speed with which McCamish delivers admin solutions for new product launches.

This release follows two successful policy conversions of three products for John Hancock Variable Life Insurance Company* (*not licensed in New York), an indirect subsidiary of John Hancock Financial Services, Inc.

ATLANTA--(BUSINESS WIRE)--August 21, 2001--McCamish Systems announces its fifth successful deployment of variable life policy administration solutions for John Hancock Variable Life Insurance Company.

This release provides Hancock with the functionality to administer its newest product, Majestic Variable COLI. As described by Gordon Beckham, Vice Chairman of McCamish Systems, "this release is particularly noteworthy in that the client asked for the admin capability for this product less than two months prior to our delivery. Seven weeks from the initial request, we completed everything from requirement definition and writing the business specs through internal testing." This time frame exemplifies the impressive flexibility of VPAS® Life and McCamish's ability to get carriers' new products to the marketplace quickly. John Hancock is currently performing its standard testing procedures for this new VPAS® Life capability as well as for the Medallion Variable Life products for complete implementation in July.

This release follows two successful policy conversions for John Hancock Variable Life Insurance Company beginning in the fourth quarter of 1998. The initial conversions were especially noteworthy because not only was current data adapted to VPAS® Life, the complete history was brought forward. Easy access to complete policy history allows John Hancock service reps to answer customer questions more efficiently and effectively as no manual processes outside VPAS® Life are required to retrieve information.

John Hancock and McCamish are currently working on the third round of product conversions to be completed in November, 2001.

About John Hancock Financial Services

John Hancock Financial Services, Inc. (NYSE: JHF) and its affiliated companies provide a broad array of insurance and investment products and services to retail and institutional customers. As of June 30, 2001, John Hancock and its subsidiaries had total assets under management of $122.7 billion.

Registered products, including variable life insurance, variable annuities, and mutual funds, are sold by prospectus. Please request a prospectus which contains more complete information, including charges and expenses, and read it carefully before investing or sending money.

Insurance products are underwritten by John Hancock Life Insurance Company and John Hancock Variable Life Insurance Company* (*not licensed in New York), Boston, MA 02117. Securities are offered through Signator Investors, Inc., Member NASD, SIPC, Boston, MA 02117.

For additional information, please call: Melissa Simon at 617-572-6390.

About McCamish Systems

McCamish Systems' VPAS® (Variable Product Administration Systems) product family includes VPAS® Life and VPAS® Benefit Plan Administration as client/server based, relational database systems that are scalable, feature-rich and flexible enough to be customized to suit unique client requirements. McCamish provides its solutions in BPO (Business Process Outsourcing), Remote or License environments.

VPAS® Life supports administration of variable and fixed annuities, variable and fixed universal life, private placement products, and corporate and bank owned life insurance programs (COLI and BOLI). VPAS® Benefit Plan Administration provides recordkeeping capabilities for SERP, Split Dollar and other non-qualified benefit plans. All VPAS® products are Internet enabled, allowing security-cleared clients, brokers, agents, sponsors and participants access to policy and plan information.

McCamish Systems is a privately held company based in Atlanta, Georgia.

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For more information about McCamish Systems, please contact our Sales & Marketing group at Solutions@McCamish.com or call 800.366.0819.

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