TORONTO (Nov 7, 2008) - Manulife Financial Corporation (“MFC”) today reported quarterly shareholders' net income of Cdn$510 million and fully diluted earnings per share of Cdn$0.33, compared to net income of Cdn$1,070 million and fully diluted earnings per share of Cdn$0.70 for the same period last year.  The sharp declines in global equity markets reduced reported earnings in the quarter by Cdn$574 million and credit losses related to previously disclosed exposures and to credit downgrades totaled Cdn$253 million.  Return on common shareholders' equity was 8.2 per cent in the third quarter of 2008, compared to 18.9 per cent in 2007.