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John Hancock Closed-End Funds Announce Retirement Of Board Trustee

BOSTON, Jan. 3, 2012 /PRNewswire/ -- John Hancock Closed-End Funds announced that Charles L. Ladner, an independent Trustee of the Funds, retired from the Boards of Trustees of the Funds on December 31, 2011.  Effective with Mr. Ladner's retirement, each Fund's Board of Trustees consists of ten members.  In addition, effective January 1, 2012 until December 31, 2012, Dr. John A. Moore, an independent Trustee of the Funds, serves as Vice Chairman of the Board of Trustees of each Fund.

John Hancock Closed-End Funds are: John Hancock Bank and Thrift Opportunity Fund (NYSE: BTO); John Hancock Hedged Equity & Income Fund (NYSE: HEQ); John Hancock Income Securities Trust (NYSE: JHS); John Hancock Investors Trust (NYSE: JHI); John Hancock Preferred Income Fund (NYSE: HPI); John Hancock Preferred Income Fund II (NYSE: HPF); John Hancock Preferred Income Fund III (NYSE: HPS); John Hancock Premium Dividend Fund (NYSE: PDT); John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD); and John Hancock Tax-Advantaged Global Shareholder Yield Fund (NYSE: HTY).

Commenting on Mr. Ladner's retirement, Keith F. Hartstein, President and Chief Executive Officer of the Funds, said: "Chuck has provided outstanding knowledge and insights to the Board during his tenure as a Trustee of the Funds. His expertise and leadership have greatly benefited shareholders of the John Hancock Funds. We extend our congratulations on his exceptional service and wish him all the best in the future."

Mr. Ladner served as an independent Trustee of various Funds since 1992.  Mr. Ladner has been retained to serve as a consultant to each Fund's Board.  Mr. Pruchansky, the Chair of the Funds, said "The Funds greatly benefited from Chuck's dedication and expertise, and we are delighted to be able to access his knowledge for another year."

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