BOSTON, Jan. 21 /PRNewswire-FirstCall/ --

John Hancock Patriot Premium Dividend Fund II (NYSE: PDT)

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 Tax-Advantaged Dividend Income Fund (NYSE: HTD)

The closing book net asset value (NAV) per share for each of John Hancock Patriot Premium Dividend Fund II (NYSE: PDT), John Hancock Preferred Income Fund (NYSE: HPI), John Hancock Preferred Income Fund II (NYSE: HPF), John Hancock Preferred Income Fund III (NYSE: HPS), and John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) was misreported on January 8 and January 9, 2009. Book NAV per share does not represent the market prices at which an investor may trade shares of the funds on the NYSE. The closing market prices on these dates remain unchanged. The correct closing book NAV per share on January 8 and January 9, 2009 are as follows:

PDT


       Date              Reported NAV               Correct NAV
      1/8/09                 $8.89                      $8.84
      1/9/09                 $8.90                      $8.85

HPI


       Date              Reported NAV               Correct NAV
      1/8/09                $14.87                     $14.72
      1/9/09                $14.97                     $14.81

HPF


       Date              Reported NAV               Correct NAV
      1/8/09                $14.63                     $14.47
      1/9/09                $14.69                     $14.54

HPS


       Date              Reported NAV               Correct NAV
      1/8/09                $13.36                     $13.23
      1/9/09                $13.40                     $13.27

HTD


       Date              Reported NAV              Correct NAV
      1/8/09                $12.86                     $12.72
      1/9/09                $12.75                     $12.61

About John Hancock Funds

The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds manages more than $47.9 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at September 30, 2008. John Hancock Funds are distributed by John Hancock Funds, LLC, member FINRA. For more information, please visit www.jhfunds.com.

John Hancock Financial Services is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$385 billion (US$364 billion) at September 30, 2008. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial may be found on the Internet at www.manulife.com.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

SOURCE John Hancock Funds