As filed with the Securities and Exchange Commission on October 14, 2004. SCHEDULE 14A (RULE 14A-101) INFORMATION REQUIRED IN PROXY STATEMENT FILE NUMBER 811-4630 SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. __) [X] Filed by the Registrant [ ] Filed by a Party other than the Registrant Check the appropriate box: [ ] Preliminary Proxy Statement [X] Definitive Proxy Statement [ ] Definitive Additional Materials [ ] Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12 JOHN HANCOCK INVESTMENT TRUST III (Name of Registrant as Specified in Its Charter) JOHN HANCOCK INVESTMENT TRUST III (Name of Person(s) Filing Proxy Statement) Payment of filing fee (check the appropriate box): [ ] $125 per Exchange Act Rules 0-11(c) (1) (ii), 14a-6 (i) (1), or 14a-6 (i) (2) or Item 22(a) (2) or schedule 14A (sent by wire transmission). [ ] Fee paid previously with preliminary materials. [X] No fee required. - -------------------------------------------------------------------------------- Important Information - -------------------------------------------------------------------------------- John Hancock(R) - ------------------ JOHN HANCOCK FUNDS October 14, 2004 Dear Fellow Shareholder: I am writing to ask for your vote on an important matter concerning your investment in one or more of the John Hancock mutual funds. The attached proxy statement includes information regarding the election of your fund's board of trustees. Changes to the structure of your Board of Trustees Currently, the boards of trustees of the John Hancock family of funds are governed by a two-panel structure which came about because of past acquisitions of fund groups. Each panel has been responsible for approximately half of the funds within the family. Since 1998, members of the two panels have met concurrently for all Board and Committee meetings. As a result, each Trustee already has an understanding of the funds that are under the other panel's supervision, as well as issues that are common to all of the John Hancock funds. Several Trustees have reached the age for mandatory retirement and plan to retire in 2004 and 2005, making this an appropriate time to consolidate the two panels into one board of trustees. For each fund, this proposal asks shareholders to elect nine Trustees to serve until their respective successors are elected and qualified. Some of the nominees are currently on your fund's board of trustees, while the others are members of the other panel. The proxy statement includes a brief description of each nominee's background. It is important to note that eight of the nine nominees, including the nominee who serves as Chairman, are independent Trustees with no direct or indirect interest in John Hancock Advisers, LLC, your fund's investment adviser. No impact on your fund's objectives, policies or fees The proposal set forth in the enclosed proxy statement is considered a routine item. A routine item is one that makes no changes to a fund's investment objectives, policies or restrictions, or to the investment management contracts or fees. Your vote is important! Your Trustees believe the proposed changes will benefit you and your fellow shareholders and unanimously recommend that you vote in favor of this proposal. Please complete the enclosed proxy ballot form, sign it and mail it to us immediately. For your convenience, a postage-paid return envelope has been provided. A prompt response will help avoid the cost of additional mailings at your fund's expense. If you have any questions or need additional information, please contact your financial professional or call your John Hancock Funds Customer Service Representative at 1-800-225-5291, Monday through Friday between 8:00 A.M. and 7:00 P.M., Eastern Time. Thank you for your prompt action on this very important matter. Sincerely, /s/ James A. Shepherdson James A. Shepherdson Chief Executive Officer John Hancock Bond Trust John Hancock California Tax-Free Income Fund John Hancock Capital Series John Hancock Current Interest John Hancock Equity Trust John Hancock Institutional Series Trust John Hancock Investment Trust John Hancock Investment Trust II John Hancock Investment Trust III John Hancock Series Trust John Hancock Sovereign Bond Fund John Hancock Strategic Series John Hancock Tax-Exempt Series John Hancock Tax-Free Bond Trust John Hancock World Fund (Collectively, the "Trusts") 101 Huntington Avenue, Boston, Massachusetts 02199 NOTICE OF JOINT SPECIAL MEETING OF SHAREHOLDERS TO BE HELD DECEMBER 1, 2004 This is the formal agenda for your fund's shareholder meeting. It tells you what matters will be voted on and the time and place of the meeting, in case you want to attend in person. A joint Special Meeting of Shareholders of each Trust will be held at the Trusts' offices located on the 10th floor at 101 Huntington Avenue, Boston, Massachusetts, on Wednesday, December 1, 2004 at 9:00 A.M., Eastern Time. The Trusts' Special Meetings are expected to be held concurrently and are referred to collectively as the "Meeting." The purpose of the Meeting is to consider and act upon the following: 1. To elect nine trustees to hold office until their respective successors have been duly elected and qualified. 2. To transact such other business as may properly come before the meeting or any adjournment of the meeting. Your Trustees recommend that you vote in favor of all of the nominees for trustee. Shareholders of record of each Trust as of the close of business on September 16, 2004 are entitled to notice of and to vote at the meeting and at any related follow-up meetings. Whether or not you expect to attend the meeting, please complete and return the enclosed proxy card. Please take a few minutes to vote now. By order of the boards of trustees, Susan S. Newton Secretary October 14, 2004 PROXY STATEMENT OF John Hancock Bond Trust John Hancock California Tax-Free Income Fund John Hancock Capital Series John Hancock Current Interest John Hancock Equity Trust John Hancock Institutional Series Trust John Hancock Investment Trust John Hancock Investment Trust II John Hancock Investment Trust III John Hancock Series Trust John Hancock Sovereign Bond Fund John Hancock Strategic Series John Hancock Tax-Exempt Series John Hancock Tax-Free Bond Trust John Hancock World Fund (Collectively, the "Trusts") This proxy statement contains the information you should know before voting on the proposals below. The Trusts will furnish without charge a copy of their most recent semiannual and annual reports to any shareholder upon request. Shareholders who want to obtain a copy of these reports should direct all written requests to the attention of the fund, 101 Huntington Avenue, Boston, Massachusetts 02199, or should call John Hancock Funds at 1-800-225-5291. Each Trust is divided into one or more separate series (each, a "fund"). The investment adviser to each fund is John Hancock Advisers, LLC (the "Adviser"). The principal underwriter of each fund's shares is John Hancock Funds, LLC (the "Distributor"). The principal business address of the Adviser and the Distributor is 101 Huntington Avenue, Boston, Massachusetts 02199. This proxy statement is furnished in connection with the solicitation of proxies by the board of trustees (the "Trustees") of each of the Trusts listed above on behalf of each respective fund set forth below. Trustees are elected on a Trust-wide basis. Therefore, all shareholders of each fund that is a series of the same Trust (and all classes of shares of those funds) vote together as a single class on the election of Trustees of that Trust. Each Trust will hold a separate election. Trusts Panel A Funds - -------------------------------------------------------------------------------- John Hancock John Hancock Classic Value Fund ("Classic Value") Capital Series John Hancock Core Equity Fund ("Core Equity") John Hancock Large Cap Select Fund ("Large Cap Select") John Hancock U.S. Global Leaders Growth Fund ("U.S. Global Leaders Growth") - -------------------------------------------------------------------------------- John Hancock John Hancock Growth Trends Fund ("Growth Trends") Equity Trust - -------------------------------------------------------------------------------- John Hancock John Hancock Financial Industries Fund Investment ("Financial Industries") Trust II John Hancock Regional Bank Fund ("Regional Bank") John Hancock Small Cap Equity Fund ("Small Cap Equity") - -------------------------------------------------------------------------------- John Hancock John Hancock International Fund ("International") Investment John Hancock Large Cap Growth Fund Trust III ("Large Cap Growth") John Hancock Mid Cap Growth Fund ("Mid Cap Growth") - -------------------------------------------------------------------------------- John Hancock John Hancock Bond Fund ("Bond") Sovereign Bond Fund - -------------------------------------------------------------------------------- John Hancock John Hancock High Income Fund ("High Income") Strategic Series John Hancock Strategic Income Fund ("Strategic Income") - -------------------------------------------------------------------------------- John Hancock John Hancock Massachusetts Tax-Free Income Fund Tax-Exempt ("Massachusetts Tax-Free") Series John Hancock New York Tax-Free Income Fund ("New York Tax-Free") - -------------------------------------------------------------------------------- John Hancock John Hancock Biotechnology Fund ("Biotechnology") World Fund John Hancock Health Sciences Fund ("Health Sciences") - -------------------------------------------------------------------------------- 2 Trusts Panel B Funds - -------------------------------------------------------------------------------- John Hancock John Hancock Government Income Fund Bond Trust ("Government Income") John Hancock High Yield Fund ("High Yield") John Hancock Investment Grade Bond Fund ("Investment Grade Bond") - -------------------------------------------------------------------------------- John Hancock John Hancock California Tax-Free Income Fund California ("California Tax-Free") Tax-Free Income Fund - -------------------------------------------------------------------------------- John Hancock John Hancock Money Market Fund ("Money Market") Current Interest John Hancock U.S. Government Cash Reserve ("U.S. Government Cash Reserve") - -------------------------------------------------------------------------------- John Hancock John Hancock Independence Diversified Core Equity Institutional Fund II ("Independence Diversified Core Equity") Series Trust - -------------------------------------------------------------------------------- John Hancock John Hancock Balanced Fund ("Balanced") Investment John Hancock Large Cap Equity Fund ("Large Cap Equity") Trust John Hancock Sovereign Investors Fund ("Sovereign Investors") - -------------------------------------------------------------------------------- John Hancock John Hancock Focused Equity Fund ("Focused Equity") Series Trust John Hancock Mid Cap Equity Fund ("Mid Cap Equity") John Hancock Multi Cap Growth Fund ("Multi Cap Growth") John Hancock Real Estate Fund ("Real Estate") John Hancock Small Cap Growth Fund ("Small Cap Growth") John Hancock Technology Fund ("Technology") - -------------------------------------------------------------------------------- John Hancock John Hancock High Yield Municipal Bond Fund Tax-Free Bond ("High Yield Municipal") Trust John Hancock Tax-Free Bond Fund ("Tax-Free Bond") - -------------------------------------------------------------------------------- For purposes of this Proxy Statement, the term "Funds" shall also include the Trusts where appropriate. 3 INTRODUCTION This proxy statement is being used at the special meeting of each fund's shareholders to be held concurrently (collectively, the "Meeting") at 101 Huntington Avenue, Boston, Massachusetts, on Wednesday, December 1, 2004 at 9:00 A.M., Eastern Time. The purpose of the Meeting is to consider: 1. Proposal to elect nine Trustees to hold office until their respective successors have been duly elected and qualified. 2. Any other business that may properly come before the Meeting. This proxy statement and the proxy card are being mailed to each fund's shareholders on or about October 14, 2004. WHO IS ELIGIBLE TO VOTE? Shareholders of record on September 16, 2004 are entitled to attend and vote on each proposal at the meeting or any adjourned meeting. Each share is entitled to one vote. All shareholders of each fund that is a series of the same Trust (and all classes of shares of those funds) vote together as a single class on the election of Trustees. Each Trust will hold a separate election. Shares represented by properly executed proxies, unless revoked before or at the meeting, will be voted according to shareholder instructions. If you sign a proxy, but do not fill in a vote, your shares will be voted in favor of each of the nominees. If any other business comes before the Meeting, your shares will be voted at the discretion of the persons named as proxies. PROPOSAL 1 ELECTION OF TRUSTEES Currently, there are two separate groups of Trustees. These groups are referred to as "Panel A" and "Panel B." As set forth in the table in the introduction to this Proxy Statement, the Panel A Trustees serve as Trustees of certain Trusts and the Panel B Trustees serve as Trustees of the remaining Trusts. This two-panel structure evolved because John Hancock acquired investment advisers to other fund groups and integrated the funds and their Boards into the John Hancock funds. However, since March of 1998 Panel A Trustees and Panel B Trustees have met concurrently for all Board and Committee meetings. As a result, each Trustee already has some understanding of the funds that are under the other Panel's supervision. For some time, the Panel A and Panel B Trustees have been considering ways to improve the effectiveness of their oversight of the funds, including combining the two Panels of Trustees. A number of the Trustees from each panel have reached the age for mandatory retirement, and the Trustees believe that with these retirements scheduled for 2004 and early 2005, this 4 would be an appropriate time to consolidate the two Panels into one board of trustees. In addition, the Trustees noted that shareholders have not had an opportunity to elect Trustees for a number of years. Consequently, on September 14, 2004, the Panel A Trustees and the Panel B Trustees, including all of the Trustees who are not "interested persons" (as defined by the Investment Company Act of 1940, as amended (the "1940 act")) of the funds (the "independent Trustees"), voted to approve, and to recommend that the funds' shareholders vote to approve, the election of each nominee listed below (collectively, the "Nominees"). Each Nominee currently serves either as a Panel A Trustee or a Panel B Trustee. If approved by the shareholders, the proposal will result in each fund being governed by the same collective board of trustees. The election for all funds will be effective January 1, 2005, except funds in the Equity Trust, which will be effective December 1, 2004. Of the nine nominees, eight are Independent Trustees. Two of the nine Trustees currently serve on both Panel A and Panel B; three serve on Panel A; and four serve on Panel B. Each independent Nominee was approved by the Administration Committee of the applicable fund's existing board of trustees, and each Nominee was recommended by the Trustees of the applicable fund, including the independent Trustees. Information concerning the background of each Nominee is included below. Using the enclosed form of proxy, a shareholder may authorize the proxies to vote his or her shares for the Nominees or may withhold from the proxies authority to vote his or her shares for one or more of the Nominees. If no contrary instructions are given, the proxies will vote FOR the Nominees. Each of the Nominees has consented to his or her nomination and has agreed to serve if elected. If for any reason, any Nominee should not be available for election or able to serve as a Trustee, the proxies will exercise their voting power in favor of such substitute Nominee, if any, as each of the Fund's Trustees may designate. None of the funds has any reason to believe that it will be necessary to designate a substitute Nominee. Information Concerning Nominees The following table sets forth each Nominee's principal occupation or employment and other directorships during the past five years. The table sets forth the Panel on which each Nominee currently serves, the date he or she first became a Trustee and the number of funds each Nominee currently oversees. If elected all Trustees will oversee forty-eight funds. The table also sets forth the above information for the Trustees not standing for election. 5 NOMINEES FOR ELECTION Number of John Hancock Name, (Age), Principal Occupation(s) Funds Address(1) and Position and other Directorships Trustee overseen with the Funds During the Past Five Years Since currently - -------------------------------------------------------------------------------------------------- Independent Trustees - -------------------------------------------------------------------------------------------------- Charles L. Ladner Chairman and Trustee, Dunwoody Independent 48 (Age 66) Village, Inc. (retirement services) Chairman Chairman and Trustee (until 2003); Senior Vice President June 16, and Chief Financial Officer, UGI 2004 Corporation (public utility holding Panel A company) (retired 1998); Vice 2004 President and Director for AmeriGas, Panel B Inc. (retired 1998); Director of 1994 AmeriGas Partners, L.P. (until 1997) (gas distribution); Director, EnergyNorth, Inc. (until 1995); Director, Parks and History Association (since 2001). - -------------------------------------------------------------------------------------------------- James F. Carlin Chairman and Treasurer, Alpha Panel B 28 (Age 64) Analytical Inc. (analytical laboratory) 1994 Trustee (since 1985); Part Owner and Treasurer, Lawrence Carlin Insurance Agency, Inc. (since 1995); Part Owner and Vice President, Mone Lawrence Carlin Insurance Agency, Inc. (since 1996); Director and Treasurer, Rizzo Associates (engineering) (until 2000); Chairman and CEO, Carlin Consolidated, Inc. (management/investments) (since 1987); Director and Partner, Proctor Carlin & Co., Inc. (insurance) (until 1999); Trustee, Massachusetts Health and Education Tax Exempt Trust (since 1993); Director of the following: Uno Restaurant Corp. (until 2001), Arbella Mutual (insurance) (until 2000), HealthPlan Services, Inc. (until 1999), Flagship Healthcare, Inc. (until 1999), Carlin Insurance Agency, Inc. (until 1999); Chairman, Massachusetts Board of Higher Education (until 1999). - -------------------------------------------------------------------------------------------------- Richard P. Chapman, Jr. President and Chief Executive Panel A 20 (Age 69) Officer, Brookline Bancorp, Inc. 1978 Trustee (lending) (since 1972); Director, Lumber Insurance Co. (insurance) (until 2000); Chairman and Director, Northeast Retirement Services, Inc. (retirement administration) (since 1998). - -------------------------------------------------------------------------------------------------- 6 NOMINEES FOR ELECTION Number of John Hancock Name, (Age), Principal Occupation(s) Funds Address(1) and Position and other Directorships Trustee overseen with the Funds During the Past Five Years Since currently - -------------------------------------------------------------------------------------------------- William H. Cunningham Former Chancellor, University of Panel B 28 (Age 60) Texas System and former President of 1987 Trustee the University of Texas, Austin, Texas; Chairman and CEO, IBT Technologies (until 2001); Director of the following: The University of Texas Investment Management Company (until 2000), Hire.com (until 2004), STC Broadcasting, Inc. and Sunrise Television Corp. (until 2001), Symtx, Inc. (electronic manufacturing) (since 2001), Adorno/Rogers Technology, Inc. (until 2004), Pinnacle Foods Corporation (until 2003), rateGenius (Internet service) (until 2003), Jefferson-Pilot Corporation (diversified life insurance company) (since 1985), New Century Equity Holdings (formerly Billing Concepts) (until 2001), eCertain (until 2001), ClassMap.com (until 2001), Agile Ventures (until 2001), LBJ Foundation (until 2000), Golfsmith International, Inc. (until 2000), Metamor Worldwide (until 2000), AskRed.com (until 2001), Southwest Airlines (since 2000) and Introgen (since 2000); Advisory Director, Q Investments (until 2003); Advisory Director, Chase Bank (formerly Texas Commerce Bank -- Austin) (since 1988), LIN Television (since 2002), WilTel Communications (until 2003) and Hayes Lemmerz International, Inc. (Diversified Automotive Parts Supply Company) (since 2003). - -------------------------------------------------------------------------------------------------- Ronald R. Dion Chairman and Chief Executive Panel B 28 (Age 58) Officer, R. M. Bradley & Co., Inc.; 1998 Trustee Director, The New England Council and Massachusetts Roundtable; Director, Boston Stock Exchange; Trustee, North Shore Medical Center; Director, BJ's Wholesale Club, Inc. and a corporator of the Eastern Bank; Trustee, Emmanuel College. - -------------------------------------------------------------------------------------------------- 7 NOMINEES FOR ELECTION Number of John Hancock Name, (Age), Principal Occupation(s) Funds Address(1) and Position and other Directorships Trustee overseen with the Funds During the Past Five Years Since currently - -------------------------------------------------------------------------------------------------- John A. Moore President and Chief Executive Panel A 30 (Age 65) Officer, Institute for Evaluating 1996 Trustee Health Risks (nonprofit institution) (until 2001); Chief Scientist, Science International (health research) (since 1998); Principal, Hollyhouse (consulting) (since 2000); Director, CIIT (nonprofit research) (since 2002). - -------------------------------------------------------------------------------------------------- Patti McGill Peterson Executive Director, Council for Panel A 30 (Age 61) International Exchange of Scholars; 1996 Trustee Vice President, Institute of International Education (since 1998); Senior Fellow, Cornell Institute of Public Affairs, Cornell University (until December 1998); Former President of Wells College and St. Lawrence University; Director, Niagara Mohawk Power Corporation (until 2003); Director, Ford Foundation, International Fellowship Program (since 2002), Lois Roth Endowment (since 2002), Council for International Educational Exchange (since 2003). - -------------------------------------------------------------------------------------------------- Steven R. Pruchansky Chairman and Chief Executive Panel B 28 (Age 60) Officer, Greenscapes of Southwest 1994 Trustee Florida, Inc. (since 2000); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Managing Director, JonJames, LLC (real estate) (since 2001); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). - -------------------------------------------------------------------------------------------------- 8 NOMINEES FOR ELECTION Number of John Hancock Name, (Age), Principal Occupation(s) Funds Address(1) and Position and other Directorships Trustee overseen with the Funds During the Past Five Years Since currently - -------------------------------------------------------------------------------------------------- Interested Trustees - -------------------------------------------------------------------------------------------------- James A. Shepherdson+ Executive Vice President, Manulife Panel A and 48 (Age 52) Financial Corporation (since 2004); Panel B Trustee Chairman, Director, President and 2004 Chief Executive Officer, the Adviser and The Berkeley Group, LLC ("The Berkeley Group") (holding company); Chairman, Director, President and Chief Executive Officer, the Distributor; Chairman, Director, President and Chief Executive Officer, Sovereign Asset Management Corporation ("SAMCorp."); President, John Hancock Retirement Services, John Hancock Life Insurance Company (until 2004); Chairman, Essex Corporation (investment adviser) (until 2004); Co-Chief Executive Officer, MetLife Investors Group (until 2003); Senior Vice President, AXA/Equitable Insurance Company (until 2000). - -------------------------------------------------------------------------------------------------- 9 TRUSTEES NOT STANDING FOR ELECTION Number of John Hancock Name, (Age), Principal Occupation(s) Funds Address(1) and Position and other Directorships Trustee overseen with the Funds During the Past Five Years Since currently - -------------------------------------------------------------------------------------------------- Dennis S. Aronowitz(*) Professor of Law Emeritus, Boston Panel A 1988 20 (Age 73) University School of Law (as of Trustee 1996); Director, Brookline Bancorp (since 1998). - -------------------------------------------------------------------------------------------------- William J. Cosgrove(**) Vice President, Senior Banker and Panel A 1991 20 (Age 71) Senior Credit Officer, Citibank, N.A. Trustee (banking) (retired 1991); Executive Vice President, Citadel Group Representatives, Inc. (financial reinsurance) (until 2004); Director, Hudson City Savings Bank (since 1995); Director, Hudson City Bancorp (banking) (since 1999); Trustee, Scholarship Fund for Inner City Children (since 1986). - -------------------------------------------------------------------------------------------------- Richard A. Farrell(*) President, Farrell, Healer & Co., Inc., Panel A 1996 20 (Age 71) (venture capital management firm) Trustee (since 1980) and President, the Venture Capital Fund of NE (since 1980). Prior to 1980, headed the venture capital group at Bank of Boston Corporation; Trustee, Marblehead Savings Bank (since 1994). - -------------------------------------------------------------------------------------------------- William F. Glavin(*) President Emeritus, Babson College Panel A 1996 20 (Age 72) (as of 1998); Vice Chairman, Xerox Trustee Corporation (until 1989); Director, Reebok, Inc. (until 2002) and Inco Ltd. (until 2002). - -------------------------------------------------------------------------------------------------- John W. Pratt(*) Professor of Business Administration Panel A 1996 20 (Age 73) Emeritus, Harvard University Trustee Graduate School of Business Administration (as of 1998). - -------------------------------------------------------------------------------------------------- Norman H. Smith(**) Lieutenant General, United States Panel B 1996 28 (Age 71) Marine Corps; Deputy Chief of Staff Independent Trustee for Manpower and Reserve Affairs, Headquarters Marine Corps; Commanding General III Marine Expeditionary Force/3rd Marine Division (retired 1991). - -------------------------------------------------------------------------------------------------- 10 TRUSTEES NOT STANDING FOR ELECTION Number of John Hancock Name, (Age), Principal Occupation(s) Funds Address(1) and Position and other Directorships Trustee overseen with the Funds During the Past Five Years Since currently - -------------------------------------------------------------------------------------------------- John P. Toolan(*) Director, The Smith Barney Muni Panel B 1996 28 (Age 74) Bond Funds, The Smith Barney Independent Trustee Tax-Free Money Funds, Inc., Vantage Money Market Funds (mutual funds), The Inefficient-Market Fund, Inc. (closed-end investment company); Chairman, Smith Barney Trust Company of Florida (retired 1991); Director, Smith Barney, Inc., Mutual Management Company and Smith Barney Advisers, Inc. (investment advisers) (retired 1991); Senior Executive Vice President, Director and member of the Executive Committee, Smith Barney, Harris Upham & Co., Incorporated (investment bankers) (until 1991). - -------------------------------------------------------------------------------------------------- + "Interested person," as defined in the Investment Company Act of 1940, as amended (the "Investment Company Act"), of the funds and the Adviser. Mr. Shepherdson is deemed to be an "interested person" because he is Chairman, Director, President and Chief Executive Officer of the Adviser and President and Chief Executive Officer of the Distributor. (*) Messrs. Aronowitz, Farrell, Glavin, Pratt and Toolan are retiring on December 31, 2004. (**) Messrs. Cosgrove and Smith are retiring on March 31, 2005 and June 30, 2005, respectively. 11 Executive Officers In addition to the President and Chief Executive Officer (Mr. Shepherdson), the table below lists each fund's executive officers. Name, (Age), Address(1) and Position with the Principal Occupation(s) Funds During the Past Five Years Officer Since - ----------------------------------------------------------------------------------- Richard A. Brown Senior Vice President, Chief Financial 2001 (Age 55) Officer and Treasurer, the Adviser, Senior Vice President the John Hancock Fund Complex, and Chief Financial and The Berkeley Group; Second Officer Vice President and Senior Associate Controller, Corporate Tax Department, John Hancock Financial Services, Inc. (until 2001). - ----------------------------------------------------------------------------------- Susan S. Newton Senior Vice President and Secretary, 1984 (Age 54) each of the John Hancock funds; Senior Vice President Senior Vice President, Secretary and and Secretary Chief Legal Officer, the Adviser, the Distributor, The Berkeley Group and SAMCorp. - ----------------------------------------------------------------------------------- William H. King Vice President and Treasurer, each of 1992 (Age 52) the John Hancock funds; Vice Vice President and President, the Adviser. Treasurer - ----------------------------------------------------------------------------------- (1) The business address for the independent and interested Trustees and officers is 101 Huntington Avenue, Boston Massachusetts 02199 Each Trust's board of trustees currently has four standing Committees: the Audit Committee, the Administration Committee, the Contracts/Operations Committee and the Investment Performance Committee. Each Committee is comprised of Independent Trustees who are not "interested persons." 12 The current membership of each Committee and the anticipated membership if the nominees are elected, are set forth below. Contracts/ Investment Audit Administration Operations Performance - ----------------------------------------------------------------------------------------- Current Panel A Messrs. Glavin* All Independent Messrs. Messrs. Ladner, Moore Trustees Aronowitz* Chapman, and Ms. Peterson and Farrell* Cosgrove** and Pratt* - ----------------------------------------------------------------------------------------- Current Panel B Messrs. Ladner All Independent Messrs. Messrs. and Toolan* Trustees Pruchansky, Cunningham Carlin and and Dion Smith** - ----------------------------------------------------------------------------------------- Anticipated for Messrs. Ladner, All Independent Messrs. Carlin, All Independent Equity Trust as Pruchansky, Trustees Moore, Dion, Trustees of 12/1/04 and Chapman, Cunningham all other funds Smith**+ and and as of 1/1/05 Ms. Peterson Cosgrove**+ - ----------------------------------------------------------------------------------------- * Messrs. Aronowitz, Farrell, Glavin, Pratt and Toolan are retiring on December 31, 2004. ** Messrs. Cosgrove (Panel A) and Smith (Panel B) are retiring on March 31, 2005 and June 30, 2005, respectively. + Current Panel A or Panel B funds only. The Board has adopted a written charter for the Audit Committee. The Audit Committee recommends to the full Board the appointment of outside auditors for the fund, monitors and oversees the audits of the fund, communicates with both independent auditors and internal auditors on a regular basis and provides a forum for the auditors to report and discuss any matters they deem appropriate at any time. All of the Independent Trustees are members of the Administration Committee. The Administration Committee reviews the activities of the other three standing committees and makes the final selection and nomination of candidates to serve as Independent Trustees. All members of the Administration Committee are independent under the New York Stock Exchange's Revised Listing Rules and are Independent Trustees. The Board has adopted a written charter for the Administration Committee, which is attached as Exhibit B to this proxy. The Administration Committee selects and nominates for elections candidates for Independent Trustees. The Trustees who are not Independent Trustees and the officers of the fund are nominated and selected by the Board. In reviewing a potential nominee and in evaluating the renomination of current Independent Trustees, the Administration Committee expects to apply the following criteria: (i) the nominee's reputation for integrity, honesty and adherence to high ethical standards, (ii) the nominee's business acumen, 13 experience and ability to exercise sound judgments, (iii) a commitment to understand the fund and the responsibilities of a trustee of an investment company, (iv) a commitment to regularly attend and participate in meetings of the Board and its committees, (v) the ability to understand potential conflicts of interest involving management of the fund and to act in the interests of all shareholders, and (vi) the absence of a real or apparent conflict of interest that would impair the nominee's ability to represent the interests of all the shareholders and to fulfill the responsibilities of an Independent Trustee. The Administration Committee does not necessarily place the same emphasis on each criteria and each nominee may not have each of these qualities. The Administration Committee does not discriminate on the basis of race, religion, national origin, sex, sexual orientation, disability or any other basis proscribed by law. As long as an existing Independent Trustee continues, in the opinion of the Administration Committee, to satisfy these criteria, each fund anticipates that the Committee would favor the renomination of an existing Trustee rather than a new candidate. Consequently, while the Administration Committee will consider nominees recommended by shareholders to serve as trustees, the Administration Committee may only act upon such recommendations if there is a vacancy on the Board or the Administration Committee determines that the selection of a new or additional Independent Trustee is in the best interests of the funds. In the event that a vacancy arises or a change in Board membership is determined to be advisable, the Administration Committee will, in addition to any shareholder recommendations, consider candidates identified by other means, including candidates proposed by members of the Administration Committee. While it has not done so in the past, the Administration Committee may retain a consultant to assist the Committee in a search for a qualified candidate. Any shareholder recommendation must be submitted in compliance with all of the pertinent provisions of Rule 14a-8 under the Securities Exchange Act of 1934, as amended, to be considered by the Administration Committee. In evaluating a nominee recommended by a shareholder, the Administration Committee, in addition to the criteria discussed above, may consider the objectives of the shareholder in submitting that nomination and whether such objectives are consistent with the interests of all shareholders. If the Board determines to include a shareholder's candidate among the slate of nominees, the candidate's name will be placed on the fund's proxy card. If the Administration Committee or the Board determines not to include such candidate among the Board's designated nominees and the shareholder has satisfied the requirements of Rule 14a-8, the shareholder's candidate will be treated as a nominee of the shareholder who originally nominated the candidate. In that case, the candidate will not be named on the proxy card 14 distributed with the fund's proxy statement. Each of the nominees for election as Trustee was recommended by the Administration Committee, except for Mr. Shepherdson, who was recommended by the Board. Shareholders may communicate with the members of the Board as a group or individually. Any such communication should be sent to the Board or an individual Trustee c/o the secretary of the fund at the address on the notice of this meeting. The Secretary may determine not to forward any letter to the members of the Board that does not relate to the business of the fund. Mr. Shepherdson typically attends shareholder meetings and other members of the Board may, but generally do not, attend. The Contracts/Operations Committee oversees the initiation, operation, and renewal of the various contracts between the fund and other entities. These contracts include advisory and subadvisory agreements, custodial and transfer agency agreements and arrangements with other service providers. The Investment Performance Committee monitors and analyzes the performance of the funds generally, consults with the Adviser as necessary if a fund is considered to require special attention, and reviews fund peer groups and other comparative standards as necessary. Each board of trustees and each committee held four meetings during each fund's fiscal year. With respect to each fund, no Trustee attended fewer than 75% of the aggregate of (1) the total number of meetings of the Trustees of the fund; and (2) the total number of meetings held by all committees of the Trustees on which they served. The funds hold joint meetings of the Trustees and all committees. Trustee Ownership The following table provides a dollar range indicating each Trustee's ownership of the funds as well as aggregate holdings of all John Hancock funds overseen by the Trustees or nominees, as of July 31, 2004. 15 Trustee Holding Dollar Range Overseen by NOMINEES FOR ELECTION(1) Carlin Chapman Cunningham Dion Ladner - --------------------------------------------------------------------------------------------------------- Balanced 1-10,000 1-10,000 none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Biotechnology none none none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Bond 1-10,000 1-10,000 none none 1-10,000 - --------------------------------------------------------------------------------------------------------- California Tax-Free(2) none none none none none - --------------------------------------------------------------------------------------------------------- Classic Value none none Over 100,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Core Equity none 1-10,000 none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Financial Industries none 1-10,000 none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Focused Equity 1-10,000 none none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Government Income 1-10,000 none none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Growth Trends 1-10,000 none Over 100,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Health Sciences none 1-10,000 none none 10,001-50,000 - --------------------------------------------------------------------------------------------------------- High Income none none none none none - --------------------------------------------------------------------------------------------------------- High Yield 1-10,000 none none 1-10,000 10,001-50,000 - --------------------------------------------------------------------------------------------------------- High Yield Municipal 1-10,000 none none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Independence Diversified none none none none none Core Equity(3) - --------------------------------------------------------------------------------------------------------- International none 10,001-50,000 none none 10,001-50,000 - --------------------------------------------------------------------------------------------------------- Investment Grade Bond 1-10,000 50,001-100,000 none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Large Cap Equity 1-10,000 1-10,000 none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Large Cap Growth 1-10,000 50,001-100,000 10,001-50,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Large Cap Select none none none none none - --------------------------------------------------------------------------------------------------------- Massachusetts Tax-Free(2) none 1-10,000 none none none - --------------------------------------------------------------------------------------------------------- Mid Cap Equity(3) none none none none none - --------------------------------------------------------------------------------------------------------- Mid Cap Growth none 1-10,000 none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Money Market 1-10,000 1-10,000 none Over 100,000 10,001-50,000 - --------------------------------------------------------------------------------------------------------- Multi Cap Growth 1-10,000 none none none 1-10,000 - --------------------------------------------------------------------------------------------------------- New York Tax-Free(2) none none none none none - --------------------------------------------------------------------------------------------------------- Real Estate 1-10,000 none none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Regional Bank none 1-10,000 Over 100,000 none 10,001-50,000 - --------------------------------------------------------------------------------------------------------- Small Cap Equity none 10,001-50,000 none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Small Cap Growth 1-10,000 10,001-50,000 50,001-100,000 1-10,000 10,001-50,000 - --------------------------------------------------------------------------------------------------------- Strategic Income none 1-10,000 none none 10,001-50,000 - --------------------------------------------------------------------------------------------------------- Sovereign Investors Over 100,000 none 50,001-100,000 Over 100,000 10,001-50,000 - --------------------------------------------------------------------------------------------------------- Tax-Free Bond 1-10,000 1-10,000 none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Technology 1-10,000 none none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- U.S. Government 1-10,000 none none 1-10,000 none Cash Reserve - --------------------------------------------------------------------------------------------------------- U.S. Global Leaders none none none none 10,001-50,000 Growth - --------------------------------------------------------------------------------------------------------- All John Hancock Over 100,000 Over 100,000 Over 100,000 Over 100,000 Over 100,000 funds overseen - --------------------------------------------------------------------------------------------------------- 16 Trustee Holding Dollar Range Overseen by NOMINEES FOR ELECTION(1) Moore Peterson Pruchansky Shepherdson - --------------------------------------------------------------------------------------------------------- Balanced 1-10,000 over 100,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Biotechnology 1-10,000 none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Bond 50,001-100,000 10,001-50,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- California Tax-Free(2) none none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Classic Value Over 100,000 none Over 100,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Core Equity 10,001-50,000 10,001-50,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Financial Industries 10,001-50,000 none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Focused Equity none none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Government Income 1-10,000 1-10,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Growth Trends 1-10,000 1-10,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Health Sciences 1-10,000 10,001-50,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- High Income none 1-10,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- High Yield 1-10,000 10,001-50,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- High Yield Municipal none none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Independence Diversified none none none none Core Equity(3) - --------------------------------------------------------------------------------------------------------- International 1-10,000 10,001-50,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Investment Grade Bond none 1-10,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Large Cap Equity 10,001-50,000 1-10,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Large Cap Growth 1-10,000 10,001-50,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Large Cap Select 10,001-50,000 none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Massachusetts Tax-Free(2) none none none none - --------------------------------------------------------------------------------------------------------- Mid Cap Equity(3) none none none none - --------------------------------------------------------------------------------------------------------- Mid Cap Growth 1-10,000 1-10,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Money Market none none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Multi Cap Growth none none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- New York Tax-Free(2) none 1-10,000 none none - --------------------------------------------------------------------------------------------------------- Real Estate none none 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Regional Bank 50,001-100,000 10,001-50,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Small Cap Equity 10,001-50,000 1-10,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Small Cap Growth 1-10,000 1-10,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Strategic Income 1-10,000 1-10,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Sovereign Investors 1-10,000 1-10,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Tax-Free Bond 10,001-50,000 10,001-50,000 none 1-10,000 - --------------------------------------------------------------------------------------------------------- Technology 1-10,000 none 10,001-50,000 1-10,000 - --------------------------------------------------------------------------------------------------------- U.S. Government none none none 1-10,000 Cash Reserve - --------------------------------------------------------------------------------------------------------- U.S. Global Leaders 50,001-100,000 none none 1-10,000 Growth - --------------------------------------------------------------------------------------------------------- All John Hancock Over 100,000 Over 100,000 Over 100,000 10,001-30,000 funds overseen - --------------------------------------------------------------------------------------------------------- 17 Trustee Holding Dollar Range Overseen by TRUSTEES NOT STANDING FOR ELECTION(1) Panel A Aronowitz* Cosgrove** Farrell* Glavin* Pratt* - --------------------------------------------------------------------------------------------------------- Biotechnology none none 1-10,000 none none - --------------------------------------------------------------------------------------------------------- Bond 1-10,000 10,001-50,000 1-10,000 1-10,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Classic Value none none 10,001- 10,001- none 50,000 50,000 - --------------------------------------------------------------------------------------------------------- Core Equity 1-10,000 1-10,000 1-10,000 none 10,001- 50,000 - --------------------------------------------------------------------------------------------------------- Financial Industries 1-10,000 none 1-10,000 none 10,001- 50,000 - --------------------------------------------------------------------------------------------------------- Growth Trends none none none none 1-10,000 - --------------------------------------------------------------------------------------------------------- Health Sciences 10,001-50,000 1-10,000 1-10,000 none none - --------------------------------------------------------------------------------------------------------- High Income none none none none none - --------------------------------------------------------------------------------------------------------- International 1-10,000 1-10,000 50,001- none 1-10,000 100,000 - --------------------------------------------------------------------------------------------------------- Large Cap Growth 1-10,000 1-10,000 1-10,000 none 10,001- 50,000 - --------------------------------------------------------------------------------------------------------- Large Cap Select none none none none none - --------------------------------------------------------------------------------------------------------- Massachusetts Tax-Free(2) 1-10,000 1-10,000 1-10,000 none Over 100,000 - --------------------------------------------------------------------------------------------------------- Mid Cap Growth 1-10,000 1-10,000 1-10,000 50,001- 10,001- 100,000 50,000 - --------------------------------------------------------------------------------------------------------- New York Tax-Free(2) none none none none none - --------------------------------------------------------------------------------------------------------- Regional Bank 1-10,000 50,001- 1-10,000 Over 100,000 Over 100,000 100,000 - --------------------------------------------------------------------------------------------------------- Small Cap Equity 1-10,000 10,001-50,000 1-10,000 Over 100,000 1-10,000 - --------------------------------------------------------------------------------------------------------- Strategic Income 1-10,000 1-10,000 10,001- none 10,001- 50,000 50,000 - --------------------------------------------------------------------------------------------------------- U.S. Global 10,001-50,000 none 10,001- 10,001- 10,001- Leaders Growth 50,000 50,000 50,000 - --------------------------------------------------------------------------------------------------------- All John Hancock Over 100,000 Over 100,000 Over 100,000 Over 100,000 Over funds overseen 100,000 - --------------------------------------------------------------------------------------------------------- 18 Trustee Holding Dollar Range Overseen by TRUSTEES NOT STANDING FOR ELECTION(1) Panel B Smith** Toolan* - -------------------------------------------------------------------------------- Balanced 10,001-50,000 1-10,000 - -------------------------------------------------------------------------------- California Tax-Free(2) none none - -------------------------------------------------------------------------------- Focused Equity 1-10,000 none - -------------------------------------------------------------------------------- Government Income 1-10,000 none - -------------------------------------------------------------------------------- High Yield 10,001-50,000 none - -------------------------------------------------------------------------------- High Yield Municipal 10,001-50,000 none - -------------------------------------------------------------------------------- Independence Diversified Core Equity(3) none none - -------------------------------------------------------------------------------- Investment Grade Bond 10,001-50,000 none - -------------------------------------------------------------------------------- Large Cap Equity 10,001-50,000 50,001-100,000 - -------------------------------------------------------------------------------- Mid Cap Equity(3) none none - -------------------------------------------------------------------------------- Multi Cap Growth 1-10,000 none - -------------------------------------------------------------------------------- Money Market 10,001-50,000 none - -------------------------------------------------------------------------------- Real Estate 1-10,000 none - -------------------------------------------------------------------------------- Small Cap Growth 10,001-50,000 Over 100,000 - -------------------------------------------------------------------------------- Sovereign Investors 50,001-100,000 Over 100,000 - -------------------------------------------------------------------------------- Tax-Free Bond 10,001-50,000 none - -------------------------------------------------------------------------------- Technology 10,001-50,000 10,001-50,000 - -------------------------------------------------------------------------------- U.S. Government Cash Reserve none none - -------------------------------------------------------------------------------- All John Hancock funds overseen Over $100,000 Over $100,000 - -------------------------------------------------------------------------------- * Messrs. Aronowitz, Farrell, Glavin, Pratt and Toolan are retiring on December 31, 2004. ** Messrs. Cosgrove and Smith are retiring on March 31, 2005 and June 30, 2005, respectively. (1) The amounts reflect the aggregate dollar range of equity securities beneficially owned by the Trustees in the funds and in all John Hancock funds overseen by each Trustee. For each Trustee, the amounts reflected include share equivalents of certain John Hancock funds in which the Trustee is deemed to be invested pursuant to the Deferred Compensation Plan for Independent Trustees, as more fully described under "Remuneration of Officers and Trustees". The information as to beneficial ownership is based on statements furnished to the funds by the Trustees. Each of the Trustees has all voting and investment powers with respect to the holdings indicated. None of the Trustees beneficially owned individually, and the Trustees and executive officers of the funds as a group did not beneficially own, in excess of one percent of the outstanding shares of any fund. (2) The Massachusetts, New York and California Tax-Free Funds may only be purchased by residents of the respective states. (3) Individuals are not permitted to purchase these funds. 19 Remuneration of Officers and Trustees The following table provides information about the compensation paid by the funds and the other investment companies in the John Hancock fund complex to the Independent Trustees for their services for each fund's most recently completed fiscal year. Any non-independent Trustees, and each of the officers of the funds are interested persons of the Adviser, are compensated by the Adviser and/or its affiliates and receive no compensation from the funds for their services. The aggregate annual compensation figures in the table below include any compensation deferred at the election of the Trustee. The funds do not provide pension or retirement benefits to the Trustees. 20 Aggregate Compensation of the Independent Trustees Fiscal Year Panel A End Aronowitz* Chapman+ Cosgrove+** Farrell* Glavin+* - ---------------------------------------------------------------------------------------------- Biotechnology Oct $ 77 $ 87 $ 87 $ 87 $ 81 - ---------------------------------------------------------------------------------------------- Bond May 9,657 10,512 12,091 10,721 10,105 - ---------------------------------------------------------------------------------------------- Classic Value Dec 366 422 431 430 382 - ---------------------------------------------------------------------------------------------- Core Equity Dec 3,501 3,818 3,839 3,827 3,594 - ---------------------------------------------------------------------------------------------- Financial Industries Oct 10,397 11,454 11,412 11,376 10,788 - ---------------------------------------------------------------------------------------------- Growth Trends Oct 1,538 1,697 1,692 1,687 1,597 - ---------------------------------------------------------------------------------------------- Health Sciences Oct 2,076 2,298 2,290 2,282 1,880 - ---------------------------------------------------------------------------------------------- High Income May 221 239 275 244 231 - ---------------------------------------------------------------------------------------------- International Oct 143 174 185 184 158 - ---------------------------------------------------------------------------------------------- Large Cap Growth Oct 1,415 1,564 1,559 1,554 1,470 - ---------------------------------------------------------------------------------------------- Large Cap Select Dec 43 51 51 51 43 - ---------------------------------------------------------------------------------------------- Massachusetts Tax-Free Aug 713 746 840 732 715 - ---------------------------------------------------------------------------------------------- Mid Cap Growth Oct 1,033 1,142 1,140 1,136 1073 - ---------------------------------------------------------------------------------------------- New York Tax-Free Aug 520 543 612 534 521 - ---------------------------------------------------------------------------------------------- Regional Bank Oct 18,129 19,997 19,923 19,860 18,812 - ---------------------------------------------------------------------------------------------- Small Cap Equity Oct 3,287 3,625 3,615 3,603 3,412 - ---------------------------------------------------------------------------------------------- Strategic Income May 10,748 11,662 13,397 11,857 11,225 - ---------------------------------------------------------------------------------------------- U.S. Global Dec 3,317 3,690 3,740 3,730 3,437 Leaders Growth - ---------------------------------------------------------------------------------------------- Total Compensation $72,250 $79,000 $79,500 $79,250 $74,250 from all Funds in John Hancock Fund Complex to Trustees(2) - ---------------------------------------------------------------------------------------------- 21 Aggregate Compensation of the Independent Trustees Fiscal Year Panel A End Ladner(1) Moore+ Peterson Pratt* Total - ------------------------------------------------------------------------------------------ Biotechnology Oct -- $ 63 $ 59 $ 83 $ 629 - ------------------------------------------------------------------------------------------ Bond May -- 6,904 6,599 10,405 76,994 - ------------------------------------------------------------------------------------------ Classic Value Dec -- 245 268 398 2,942 - ------------------------------------------------------------------------------------------ Core Equity Dec -- 2,664 2,619 3,700 27,574 - ------------------------------------------------------------------------------------------ Financial Industries Oct -- 8,389 7,961 10,988 83,405 - ------------------------------------------------------------------------------------------ Growth Trends Oct -- 1,242 1,177 1,628 12,350 - ------------------------------------------------------------------------------------------ Health Sciences Oct -- 1,680 1,590 2,201 16,428 - ------------------------------------------------------------------------------------------ High Income May -- 157 151 237 1,755 - ------------------------------------------------------------------------------------------ International Oct -- 126 107 171 1,253 - ------------------------------------------------------------------------------------------ Large Cap Growth Oct -- 1,144 1,083 1,499 11,376 - ------------------------------------------------------------------------------------------ Large Cap Select Dec -- 21 31 43 334 - ------------------------------------------------------------------------------------------ Massachusetts Tax-Free Aug -- 486 479 717 5,428 - ------------------------------------------------------------------------------------------ Mid Cap Growth Oct -- 785 790 1,096 8,256 - ------------------------------------------------------------------------------------------ New York Tax-Free Aug -- 354 350 523 3,957 - ------------------------------------------------------------------------------------------ Regional Bank Oct -- 14,633 13,873 19,174 145,490 - ------------------------------------------------------------------------------------------ Small Cap Equity Oct -- 2,654 2,515 3,478 26,388 - ------------------------------------------------------------------------------------------ Strategic Income May -- 7,656 7,337 11,256 85,138 - ------------------------------------------------------------------------------------------ U.S. Global Dec -- 2,475 2,365 3,567 26,331 Leaders Growth - ------------------------------------------------------------------------------------------ Total Compensation -- $74,000 $72,750 $76,500 $607,500 from all Funds in John Hancock Fund Complex to Trustees(2) - ------------------------------------------------------------------------------------------ 22 Aggregate Compensation of the Independent Trustees Fiscal Year Panel B End Carlin Cunningham+ Dion+ Ladner - ------------------------------------------------------------------------------------------- Balanced Dec $ 399 $ 388 $ 407 $ 410 - ------------------------------------------------------------------------------------------- California Tax-Free Aug 2,441 2,485 2,490 2,866 - ------------------------------------------------------------------------------------------- Focused Equity Oct 87 85 44 87 - ------------------------------------------------------------------------------------------- Government Income May 4,124 4,022 4,120 4,665 - ------------------------------------------------------------------------------------------- High Yield May 7,745 7,631 7,767 8,849 - ------------------------------------------------------------------------------------------- High Yield Municipal Aug 745 759 760 871 - ------------------------------------------------------------------------------------------- Independence Diversified Feb 433 420 434 493 Core Equity - ------------------------------------------------------------------------------------------- Investment Grade Bond May 1,460 1,426 1,460 1,654 - ------------------------------------------------------------------------------------------- Large Cap Equity Dec 5,271 5,142 5,327 5,341 - ------------------------------------------------------------------------------------------- Mid Cap Equity Oct 1 1 1 1 - ------------------------------------------------------------------------------------------- Multi Cap Growth Oct 31 30 31 31 - ------------------------------------------------------------------------------------------- Money Market Mar 2,374 2,317 2,390 2,700 - ------------------------------------------------------------------------------------------- Real Estate Oct 329 320 330 326 - ------------------------------------------------------------------------------------------- Small Cap Growth Oct 6,182 6,026 6,195 6,123 - ------------------------------------------------------------------------------------------- Sovereign Investors Dec 9,653 9,411 9,760 9,787 - ------------------------------------------------------------------------------------------- Tax-Free Bond Aug 3,645 3,712 4,238 4,279 - ------------------------------------------------------------------------------------------- Technology Oct 3,047 2,961 3,053 3,026 - ------------------------------------------------------------------------------------------- U.S. Government Mar 404 395 406 459 - ------------------------------------------------------------------------------------------- Cash Reserve Total Compensation $76,250 $74,250 $77,250 $78,000 from all Funds in John Hancock Fund Complex to Trustees(2) - ------------------------------------------------------------------------------------------- 23 Aggregate Compensation of the Independent Trustees Fiscal Year Panel B End Pruchansky+ Smith+** Toolan+* Total - --------------------------------------------------------------------------------------------- Balanced Dec $ 418 $ 405 $ 410 $ 2,837 - --------------------------------------------------------------------------------------------- California Tax-Free Aug 2,535 2,441 2,418 17,676 - --------------------------------------------------------------------------------------------- Focused Equity Oct 67 58 87 515 - --------------------------------------------------------------------------------------------- Government Income May 4,290 4,124 4,000 29,345 - --------------------------------------------------------------------------------------------- High Yield May 8,023 7,745 7,518 55,278 - --------------------------------------------------------------------------------------------- High Yield Municipal Aug 774 745 737 5,391 - --------------------------------------------------------------------------------------------- Independence Diversified Feb 448 443 431 3,102 - --------------------------------------------------------------------------------------------- Core Equity - --------------------------------------------------------------------------------------------- Investment Grade Bond May 1,518 1,460 1,417 10,395 - --------------------------------------------------------------------------------------------- Large Cap Equity Dec 5,456 5,369 5,341 37,247 - --------------------------------------------------------------------------------------------- Mid Cap Equity Oct 1 1 1 7 - --------------------------------------------------------------------------------------------- Multi Cap Growth Oct 31 32 31 217 - --------------------------------------------------------------------------------------------- Money Market Mar 2,486 2,444 2,416 17,127 - --------------------------------------------------------------------------------------------- Real Estate Oct 334 338 326 2,303 - --------------------------------------------------------------------------------------------- Small Cap Growth Oct 6,279 6,362 6,123 43,290 - --------------------------------------------------------------------------------------------- Sovereign Investors Dec 10,002 9,834 9,787 68,234 - --------------------------------------------------------------------------------------------- Tax-Free Bond Aug 3,786 3,645 3,610 26,915 - --------------------------------------------------------------------------------------------- Technology Oct 3,112 3,128 3,026 21,353 - --------------------------------------------------------------------------------------------- U.S. Government Mar 423 415 411 2,913 Cash Reserve - --------------------------------------------------------------------------------------------- Total Compensation $79,250 $77,750 $78,250 $541,000 from all Funds in John Hancock Fund Complex to Trustees(2) - --------------------------------------------------------------------------------------------- (1) Mr. Ladner became a Panel A Trustee on June 16, 2004. (2) The total compensation paid by the John Hancock fund complex to the Independent Trustees for the calendar year ended December 31, 2003. Mr. Chapman was Trustee of 20 funds, Messrs. Carlin, Cunningham, Dion, Ladner and Pruchansky were Trustees of 29 funds. Mr. Moore and Ms. McGill Peterson were Trustees of 30 funds in the John Hancock fund complex. * Messrs. Aronowitz, Farrell, Glavin, Pratt and Toolan are retiring on December 31, 2004. ** Messrs. Cosgrove and Smith are retiring on March 31, 2005 and June 30, 2005, respectively. + As of December 31, 2003, if the following Trustees were deemed to own the shares used in computing the value of the aggregate accrued deferred compensation amount from all funds in the John Hancock fund complex, that value would be: for Mr. Chapman $63,573, for Mr. Cosgrove $210,257 (retiring), for Mr. Cunningham $563,218, for Mr. Dion $193,220, for Mr. Glavin $306,646 (retiring), for Mr. Moore $248,464, for Mr. Pruchansky $150,981, for Mr. Smith $276,224 (retiring) and for Mr. Toolan $633,254 (retiring), under the John Hancock Deferred Compensation Plan for Independent Trustees ("the Plan"). Under the Plan, an Independent Trustee may elect to have his deferred fees invested by a fund in shares of one or more funds in the John Hancock fund complex, and the amount paid to the Trustees under the Plan will be determined based upon the performance of such investments. Deferral of Trustees' fees does not obligate any fund to retain the services of any Trustee or obligate a fund to pay any particular level of compensation to the Trustee. 24 Material Relationships of the Independent Trustees As of December 31, 2003, none of the Independent Trustees, nor any immediate family member, owned shares of John Hancock Advisers, LLC (the "Adviser") or a principal underwriter of the funds, nor did any such person own shares of a company controlling, controlled by or under common control with the Adviser or a principal underwriter of the funds. There have been no transactions by the funds since the beginning of the funds' last two fiscal years, nor are there any transactions currently proposed, in which the amount exceeds $60,000 and in which any Trustee of the funds or any immediate family members has or will have a direct or indirect material interest, nor have any of the foregoing persons been indebted to the funds in an amount in excess of $60,000 at any time since that date. No Independent Trustee, nor any immediate family member has had, in the past five years, any direct or indirect interest, the value of which exceeds $60,000, in the Adviser, a principal underwriter of the funds or in a person (other than a registered investment company) directly or indirectly controlling, controlled by or under common control with, the Adviser or principal underwriter of the funds. Moreover, no Independent Trustee or immediate family member has, or has had in the last two fiscal years of the funds, any direct or indirect relationships or material interest in any transaction or in any currently proposed transaction, in which the amount involved exceeds $60,000, in which the following persons were or are a party: the funds, an officer of the funds, any investment company sharing the same investment adviser or principal underwriter as the funds or any officer of such a company, any investment adviser or principal underwriter of the funds or any officer of such a party, any person directly or indirectly controlling, controlled by or under common control with, the Adviser or principal underwriter of the funds, or any officer of such a person. Within the last two completed fiscal years of the funds, no officer of any investment adviser or principal underwriter of the funds or of any person directly or indirectly controlling, controlled by or under common control with the investment adviser or principal underwriter of the funds, has served as a director on a board of a company where any of the Independent Trustees or nominees of the funds, or immediate family members of such persons, has served as an officer. Legal Proceedings There are no material pending legal proceedings to which any Trustee or affiliated person is a party adverse to the funds or any of its affiliated persons or has a material interest adverse to the funds or any of its affiliated persons. In addition, there have been no legal proceedings that are material 25 to an evaluation of the ability or integrity of any Trustee or executive officer of the funds within the past five years. VOTING RIGHTS AND REQUIRED VOTE Each share of your fund regardless of class is entitled to one vote and each fractional share shall be entitled to a proportionate fractional vote. A quorum is required to conduct business at the meeting. In order for a quorum to exist, a majority of the shares outstanding and entitled to vote must be present, in person or by proxy, as determined in accordance with the table below. Approval of each Nominee requires the affirmative vote of a plurality of the shares of your Trust outstanding and entitled to vote. For this purpose, a plurality of the outstanding shares of your Trust means that, provided a quorum exists, the nine Nominees up for election that receive the greatest number of votes will be elected as Trustees regardless of the number of votes cast. Proposal 1 is considered a "routine matter" on which brokers holding shares in street name may vote without instruction. Shares Quorum (Shares Present) Voting - ------------------------------------------------------------------------------------ In General All shares "present" in In person. Shares present person or by proxy are in person will be voted in counted toward a quorum person at the meeting. By proxy. Shares present by proxy will be voted by proxy in accordance with instructions on the proxy card. - ------------------------------------------------------------------------------------ Broker Non-Vote Considered "present" at the Broker non-votes do not (where the meeting for purposes of count as a vote "for". underlying holder quorum has not voted and the broker does not have discretionary authority to vote the shares) - ------------------------------------------------------------------------------------ Proxy Without Considered "present" at the Voted "for" each proposal Voting Instruction meeting for purposes of without voting (other than a Broker quorum instructions. Non-Vote) - ------------------------------------------------------------------------------------ If the required approval of shareholders is not obtained, the meeting may be adjourned as more fully described in this proxy. 26 INFORMATION CONCERNING THE MEETING Solicitation of Proxies In addition to the mailing of these proxy materials, proxies may be solicited by telephone, by fax or in person by the Trustees, officers and employees of your fund; by personnel of the Adviser, and your fund's transfer agent, John Hancock Signature Services, Inc. ("JHSS"); or by broker-dealer firms. JHSS, together with a third party solicitation firm, has agreed to provide proxy solicitation services to the funds at a cost of approximately $3,500, per fund, which will be paid by the funds. Revoking Proxies A fund shareholder signing and returning a proxy has the power to revoke it at any time before it is exercised: o By filing a written notice of revocation with John Hancock Signature Services, Inc., 1 John Hancock Way, Suite 1000, Boston, MA 02217-1000, or o By returning a duly executed proxy with a later date before the time of the meeting, or o If a shareholder has executed a proxy but is present at the meeting and wishes to vote in person, by notifying the secretary of your fund (without complying with any formalities) at any time before it is voted. Being present at the meeting alone does not revoke a previously executed and returned proxy. 27 OUTSTANDING SHARES AND VOTING REQUIREMENTS On the record date, the following number of shares of beneficial interest of each fund were outstanding: Funds Class A Class B Class C Class I Class R - ---------------------------------------------------------------------------------------------- Balanced 7,515,998 2,398,164 414,519 586,325 -- - ---------------------------------------------------------------------------------------------- Biotechnology 1,069,414 1,165,198 492,999 -- -- - ---------------------------------------------------------------------------------------------- Bond 68,160,515 10,112,893 2,025,808 302,754 6,829 - ---------------------------------------------------------------------------------------------- California Tax-Free 28,195,410 3,880,520 653,582 -- -- - ---------------------------------------------------------------------------------------------- Classic Value 35,792,298 6,963,374 13,608,113 5,878,822 54,975 - ---------------------------------------------------------------------------------------------- Core Equity 7,236,128 8,501,172 811,843 58,500 -- - ---------------------------------------------------------------------------------------------- Financial Industries 17,460,835 46,060,569 1,763,692 615 -- - ---------------------------------------------------------------------------------------------- Focused Equity 958,575 862,097 303,981 -- -- - ---------------------------------------------------------------------------------------------- Government Income 48,022,100 6,219,792 788,756 -- -- - ---------------------------------------------------------------------------------------------- Growth Trends 10,449,754 16,135,496 5,842,727 -- -- - ---------------------------------------------------------------------------------------------- Health Sciences 2,939,109 3,517,627 347,961 -- -- - ---------------------------------------------------------------------------------------------- High Income 1,615,159 980,429 424,831 10,000 -- - ---------------------------------------------------------------------------------------------- High Yield 72,650,334 91,278,852 27,277,934 -- -- - ---------------------------------------------------------------------------------------------- High Yield 8,291,156 3,747,747 953,365 -- -- Municipal - ---------------------------------------------------------------------------------------------- Independence -- -- -- 4,171,731 -- Diversified Core Equity - ---------------------------------------------------------------------------------------------- International 9,544,439 4,283,394 598,914 184,586 -- - ---------------------------------------------------------------------------------------------- Investment Grade 14,172,706 3,024,032 933,960 104 -- Bond - ---------------------------------------------------------------------------------------------- Large Cap Equity 22,717,540 15,252,865 1,982,802 722 -- - ---------------------------------------------------------------------------------------------- Large Cap Growth 14,394,488 4,537,643 375,326 -- -- - ---------------------------------------------------------------------------------------------- Large Cap Select 3,479,087 317,241 153,216 170,369 6,859 - ---------------------------------------------------------------------------------------------- Massachusetts 5,582,590 1,776,553 614,470 -- -- Tax-Free - ---------------------------------------------------------------------------------------------- Mid Cap Equity 170,000 10,000 10,000 10,000 -- - ---------------------------------------------------------------------------------------------- Mid Cap Growth 11,876,158 4,785,393 398,490 298,237 -- - ---------------------------------------------------------------------------------------------- 28 Funds Class A Class B Class C Class I Class R - ---------------------------------------------------------------------------------------------- Money Market 212,898,183 88,334,638 14,712,413 -- -- - ---------------------------------------------------------------------------------------------- Multi Cap Growth 592,383 458,263 256,460 -- -- - ---------------------------------------------------------------------------------------------- New York Tax-Free 3,494,906 1,578,606 379,934 -- -- - ---------------------------------------------------------------------------------------------- Real Estate 1,466,461 1,473,226 823,988 -- -- - ---------------------------------------------------------------------------------------------- Regional Bank 33,748,091 21,507,413 1,145,005 -- -- - ---------------------------------------------------------------------------------------------- Small Cap Equity 12,576,331 10,592,795 3,854,803 1,178,636 11,181 - ---------------------------------------------------------------------------------------------- Small Cap Growth 55,006,720 22,031,262 2,340,933 10,334,123 -- - ---------------------------------------------------------------------------------------------- Sovereign Investors 49,690,990 13,369,893 1,461,707 152,812 6,202 - ---------------------------------------------------------------------------------------------- Strategic Income 97,494,719 74,469,100 40,130,909 224,210 21,679 - ---------------------------------------------------------------------------------------------- Tax-Free Bond 47,938,905 3,766,526 758,362 -- -- - ---------------------------------------------------------------------------------------------- Technology 70,135,925 50,371,545 6,270,911 2,571 -- - ---------------------------------------------------------------------------------------------- U.S. Global 19,573,172 7,325,716 8,115,417 312,997 59,024 Leaders Growth - ---------------------------------------------------------------------------------------------- U.S. Government 54,243,582 -- -- -- -- Cash Reserve - ---------------------------------------------------------------------------------------------- Only shareholders of record on the record date are entitled to notice of and to vote at the meeting. A majority of the outstanding shares of each Trust that are entitled to vote will be considered a quorum for the transaction of business. 29 Other Business The fund's board of trustees knows of no business to be presented for consideration at the meeting other than the proposal. If other business is properly brought before the meeting, proxies will be voted according to the best judgment of the persons named as proxies. Adjournments If, by the time scheduled for the meeting, a quorum of shareholders is not present or if a quorum is present but sufficient votes "for" the proposal have not been received, the persons named as proxies may propose one or more adjournments of the meeting to another date and time, and the meeting may be held as adjourned within a reasonable time after the date set for the original meeting without further notice. Any such adjournment will require the affirmative vote of a majority of the votes cast on the question in person or by proxy at the session of the meeting to be adjourned. The persons named as proxies will vote all proxies in favor of the adjournment that voted in favor of the proposal or that abstained. They will vote against such adjournment those proxies required to be voted against the proposal. Broker non-votes will be disregarded in the vote for adjournment. If the adjournment requires setting a new record date or the adjournment is for more than 60 days from the original meeting (in which case the board of trustees of your fund will set a new record date), your fund will give notice of the adjourned meeting to its shareholders. Telephone Voting In addition to soliciting proxies by mail, by fax or in person, your fund(s) may also arrange to have votes recorded by telephone by officers and employees of your fund(s) or by personnel of the adviser or transfer agent or a third party solicitation firm. The telephone voting procedure is designed to verify a shareholder's identity, to allow a shareholder to authorize the voting of shares in accordance with the shareholder's instructions and to confirm that the voting instructions have been properly recorded. o A shareholder will be called on a recorded line at the telephone number in the fund's account records and will be asked to provide the shareholder's social security number or other identifying information. o The shareholder will then be given an opportunity to authorize proxies to vote his or her shares at the Meeting in accordance with the shareholder's instructions. Alternatively, a shareholder may call the funds' Voice Response Unit to vote; o Read the proxy statement and have your proxy card at hand. o Call the toll-free number located on your proxy card. 30 o Enter the 12- or 14-digit "control number" found on your proxy card. o Follow recorded instructions. With both methods of telephone voting, to ensure that the shareholder's instructions have been recorded correctly, the shareholder will also receive a confirmation of the voting instructions by mail with a toll-free number to call if the voting information contained in the confirmation is incorrect. If the shareholder decides after voting by telephone to attend the Meeting, the shareholder can revoke the proxy at that time and vote the shares at the Meeting. Internet Voting You will also have the opportunity to submit your voting instructions via the Internet by utilizing a program provided through a vendor. Voting via the Internet will not affect your right to vote in person if you decide to attend the meeting. Do not mail the proxy card if you are voting via the Internet. To vote via the Internet, you will need the "control number" that appears on your proxy card. These Internet voting procedures are designed to authenticate shareholder identities, to allow shareholders to give their voting instructions and to confirm that shareholders instructions have been recorded properly. If you are voting via the Internet you should understand that there may be costs associated with electronic access, such as usage charges from Internet access providers and telephone companies, that must be borne by you. o Read the proxy statement and have your proxy card at hand. o Go to the Web site www.jhfunds.com. o Enter the 12- or 14-digit "control number" found on your proxy card. o Follow the recorded instructions. Please call us at 1-800-225-5291 if you have any problems. o To insure that your instructions have been recorded correctly, you will receive a confirmation of your voting instructions immediately after your submission and also by e-mail if chosen. SHAREHOLDER'S PROPOSALS Your fund is not required and does not intend to hold meetings of shareholders each year. Instead, meetings will be held only when and if required. Any shareholders desiring to present a proposal for consideration at the next meeting for shareholders must submit the proposal in writing, so that it is received by your fund at 101 Huntington Avenue, Boston, Massachusetts 02199 within a reasonable time before any meeting. 31 AVAILABLE INFORMATION Your fund is subject to the informational requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940 and files reports, proxy statements and other information with the SEC. These reports, proxy statements and other information filed by your fund can be inspected and copied (for a duplication fee) at the public reference facilities of the SEC at 450 Fifth Street, N.W., Washington, D.C., Northeast Regional Office, The Woolworth Building, 233 Broadway, New York, New York 10279 and at the Midwest Regional Office (500 West Madison Street, Suite 1400, Chicago, Illinois). Copies of these materials can also be obtained by mail from the Public Reference Section of the SEC at 450 Fifth Street, N.W., Washington, D.C. 20549, at prescribed rates. In addition, copies of these documents may be viewed on-screen or downloaded from the SEC's Internet site at http://www.sec.gov. 32 OWNERSHIP OF SHARES IN THE FUND To the knowledge of the funds, as of September 16, 2004, the following persons owned of record or beneficially 5% or more of the outstanding Class A, Class B, Class C, Class I or Class R shares of the funds. Balanced Class A Class B Class C Class I Class R - -------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 5.08% -- -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive E 2nd Fl Jacksonville FL Citigroup Global Markets Inc. -- -- 12.79% -- -- ATTN: Cindy Tempesta 333 West 34th Street New York NY C/O R G Leather Company Inc. -- -- 7.28% -- -- First Clearing LLC Lucy Bou 46-55 Metropolitan Avenue Ridgewood NY MCB Trust Services Custodian FBO -- -- -- 25.51% -- ACP-ASIM A 700 17th St STE 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 24.19% -- Cape Ann Local Lodge #2654 401K Plan 700 17th St STE 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 18.76% -- Derlan Precision Gear Vol Savings 700 17th St STE 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 13.05% -- Manistique Papers Inc. 401k 700 17th St STE 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 8.88% -- One Color Comm 401k 700 17th St STE 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 8.44% -- ACP-ASIM B 700 17th St STE 150 Denver CO 33 Biotechnology Class A Class B Class C Class I Class R - ----------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 9.18% 8.20% -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Bond - ----------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 20.02% 26.78% -- -- of Its Customers Attn Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL MCB Trust Services -- -- -- 43.16% -- Custodian FBO The Investment Incentive Plan 700 17th St Ste 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 16.66% -- Arden Group 401k Retirement Savings Plan 700 17th St Ste 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 13.10% -- Manistique Papers Inc 401k 700 17th St Ste 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 7.74% -- ACP-ASIM A 700 17th St Ste 150 Denver CO Investors Bank and Trust Co. Cust -- -- -- 6.37% -- ICMA FBO Option Account Country Sanitation District No 2 of La Country Dep Comp 777 N Capitol St NE Ste 600 Washington DC John Hancock Advisers LLC -- -- -- -- 98.08% Attn: Kelly A. Conway 101 Huntington Avenue Boston MA 34 California Tax-Free Class A Class B Class C Class I Class R - ---------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit 5.88% 19.96% 50.92% -- -- of Its Customers Attn: Fund Administration 4800 Deerlake Drive East 2nd Floor Jacksonville FL Citigroup Global Markets Inc. 5.67% 7.38% 8.83% -- -- 333 West 34th Street New York NY A G Edwards & Sons Inc. 6.31% -- -- -- -- Ethel R. Wells 1 North Jefferson Ave Saint Louis MO Classic Value - ----------------------------------------------------------------------------------------- MLPF&S for the Sole Benefit 11.33% 16.10% 23.42% -- 37.06% of Its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Charles Schwab & Co Inc. 5.17% -- -- 8.03% -- Mutual Funds Dept 101 Montgomery St San Francisco CA Pershing LLC -- -- -- 5.77% 10.94% P.O. Box 2052 Jersey City NJ Citigroup Global Markets Inc. -- 10.39% 13.54% -- -- 333 W 34th Street New York NY Twin City Floor Covering -- -- -- 5.86% -- Pension Fund 7645 Metro Blvd Edina MN Community FDTN of St Joseph County -- -- -- 5.60% -- Rose Meissner TTEE Anita Echevarria TTEE P.O. Box 837 South Bend IN Diocese of Metuchen -- -- -- 5.27% -- 146 Metlars Ln Piscataway NJ 35 Classic Value Class A Class B Class C Class I Class R - ----------------------------------------------------------------------------------------------- BISYS Retirement Services FBO -- -- -- -- 10.34% McNamee Hose A Et Al Retirement Plan 700 17th St Ste 150 Denver CO MCB Trust Services Custodian FBO -- -- -- -- 5.23% American Claim Services Inc. 700 17th St Ste 150 Denver CO John Hancock Advisers LLC -- -- -- -- 10.58% Attn: Kelly A. Conway 101 Huntington Avenue Boston MA Core Equity - ----------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 9.80% 13.57% -- -- of its Customers Attn Fund Administration 4800 Deer Lake Drive East 2nd Floor Jacksonville FL Independence Investment Associates -- -- -- 73.94% -- 53 State Street Boston MA MCB Trust Services Custodian FBO -- -- -- 13.36% -- Manistique Papers Inc. 401k 700 17th St Ste 150 Denver Co Financial Industries - ----------------------------------------------------------------------------------------------- Citigroup Global Markets Inc. 5.31% 7.72% 11.60% -- -- 333 West 34th Street New York NY MLPF&S For The Sole Benefit 9.30% 23.33% 20.31% -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL John Hancock Advisers LLC -- -- -- 100.0% -- Attn: Kelly A. Conway 101 Huntington Avenue Boston MA Focused Equity - ----------------------------------------------------------------------------------------------- MLPF&S For the Sole Benefit 11.52% -- 12.65% -- -- of its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL 36 Focused Equity Class A Class B Class C Class I Class R - --------------------------------------------------------------------------------------- Paul Spivak -- -- 5.41% -- -- 120 Grienbrier Dr Carnegie PA John Hancock Advisers LLC 10.22% -- -- -- -- Attn: Kelly A. Conway 101 Huntington Avenue Boston MA Government Income - --------------------------------------------------------------------------------------- MLPF&S For the Sole Benefit -- 17.07% 5.99% -- -- of Its Customers Attn: Fund Administration 974U0 4800 Deerlake Drive East 2nd Fl Jacksonville FL Citigroup Global Markets Inc. -- -- 14.77% -- -- 333 West 34th Street New York NY Growth Trends - --------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit 5.95% 23.49% 21.88% -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Health Sciences - --------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 7.51% 13.17% -- -- of Its Customers Attn: Fund Administration 4800 Deerlake Drive East Jacksonville FL Citigroup Global Markets Inc. -- 5.77% 6.63% -- -- 333 West 34th Street New York NY 37 High Income Class A Class B Class C Class I Class R - ----------------------------------------------------------------------------------------------- John Hancock Advisers LLC 60.06% -- -- 100.0% -- Attn: Kelly A. Conway 101 Huntington Avenue Boston MA MLPF&S For the Sole Benefit -- 9.00% 18.46% -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL NFSC FEBO -- -- 6.10% -- -- NFS/FMTC IRA FBO Joyce R Hurley PO Box 43 Arden NY High Yield - ----------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit 5.76% 15.02% 18.72% -- -- of Its Customers Attn: Fund Administration 4800 Deerlake Drive East 2nd Floor Jacksonville FL Citigroup Global Markets Inc. -- 7.81% 10.48% -- -- 333 West 34th Street New York NY High Yield Municipal - ----------------------------------------------------------------------------------------------- MLPF&S For the Sole Benefit 10.76% 16.82% -- -- -- of Its Customers 4800 Deerlake Drive East 2nd Floor Jacksonville FL Citigroup Global Markets Inc. 5.28% 12.16% -- -- -- 333 West 34th Street New York NY Legg Mason Wood Walker Inc. -- -- 13.50% -- -- For Exclusive Benefit of Customers PO Box 1476 Baltimore MD Independence Diversified Core Equity - ----------------------------------------------------------------------------------------------- Peter Kamin -- -- -- 27.25% -- Knowles Electronics Inc. Pension Trust 1151 Maplewood Drive Itasca IL 38 Independence Diversified Core Equity Class A Class B Class C Class I Class R - -------------------------------------------------------------------------------------------- MCB Trust Services Custodian -- -- -- 13.90% -- Derlan Precision Gear Vol Savings 700 17th St Ste 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 11.82% -- The Investment Incentive Plan 700 17th St Ste 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 9.08% -- Cape Ann Local Lodge #2654 401K Plan 700 17th St Ste 150 Denver CO Gaylord Brothers -- -- -- 8.33% -- c/o GIS Information Systems Inc. Attn: James Rowley PO Box 4903 Syracuse NY MCB Trust Services Custodian FBO -- -- -- 8.48% -- ACP-ASIM A 700 17th St Ste 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 6.57% -- Manistique Papers Inc. 401K 700 17th St Ste 150 Denver CO International - -------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 9.11% -- -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive E 2nd Fl Jacksonville FL MCB Trust Services Custodian FBO -- -- 7.46% -- -- Merchants & Manufacturers Bancorp Retirement Plan 700 17th St Suite 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 71.54% -- The Investment Incentive Plan 700 17th St Suite 150 Denver CO 39 International Class A Class B Class C Class I Class R - --------------------------------------------------------------------------------------------- MCB Trust Services Custodian FBO -- -- -- 15.26% -- One Color Comm 401K Retirement Plan 700 17th St Suite 150 Denver CO MCB Trust Services Custodian -- -- -- 8.80% -- FBO Manistique Papers Inc. 401K 700 17th St Suite 150 Denver CO Investment Grade Bond - --------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 29.49% 24.54% -- -- of Its Customers Attn: Fund Administration 4800 Deerlake Drive East 2nd Floor Jacksonville FL Citigroup Global Markets Inc. -- -- 14.67% -- -- 333 West 34th Street New York NY Large Cap Equity - --------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 8.98% 8.25% -- -- of its Customers Attn: Fund Administration 4800 Deerlake Drive East 2nd Fl Jacksonville FL Citigroup Global Markets Inc. -- -- 6.78% -- -- 333 West 34th Street New York NY 10001 John Hancock Advisers LLC -- -- -- 100.0% -- Attn: Kelly A. Conway 101 Huntington Avenue Boston MA Large Cap Growth - --------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 6.73% -- -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Citigroup Global Markets Inc. -- -- 6.55% -- -- 333 West 34th Street New York NY 40 Large Cap Select Class A Class B Class C Class I Class R - ----------------------------------------------------------------------------------------------- Richard A. Horowitz -- -- 8.77% -- -- 5 Fir Dr Kings Point NY MLPF&S For the Sole Benefit -- 12.90% 9.54% -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Citigroup Global Markets Inc. -- 7.26% 5.09% -- -- 333 West 34th Street New York NY Diversified Invest Advrs Coll Trust -- -- -- 100.0% -- 4 Manhattanville Road Purchase NY John Hancock Advisers LLC -- -- -- -- 85.26% Attn: Kelly A. Conway 101 Huntington Avenue Boston MA MCB Trust Services Custodian -- -- -- -- 6.15% Inkstone Printing Company Inc. 700 17th St Suite 150 Denver CO MCB Trust Services CUST FBO -- -- -- -- 5.24% Robinson Financial 401k Plan 700 17th St STE 300 Denver CO Massachusetts Tax-Free - ----------------------------------------------------------------------------------------------- Prudential Securities, Inc. 5.12% -- -- -- -- Special Custody Account For Exclusive Benefit of Customers Attn: Surpas Omnibus Dep 1 New York Plaza New York NY MLPF&S For The -- 13.65% 20.59% -- -- Sole Benefit of Its Customers Attn: Fund Administration 97M77 4800 Deerlake Drive East 2nd Floor Jacksonville FL Pershing LLC -- -- 7.28% -- -- PO Box 2052 Jersey City NJ William A. Murby Sr -- -- 5.07% -- -- Louise M. Murby Jt. Wros. 140 Broadway Raynham MA 41 Mid Cap Equity Class A Class B Class C Class I Class R - ----------------------------------------------------------------------------------------------- John Hancock Advisers LLC 100.0% 100.0% 100.0% 100.0% -- Attn: Kelly A. Conway 101 Huntington Avenue Boston MA Mid Cap Growth - ----------------------------------------------------------------------------------------------- MCB Trust Services Custodian FBO -- -- -- 87.23% -- The Investment Incentive Plan 700 17th St Suite 150 Denver CO MCB Trust Services Custodian FBO -- -- -- 7.61% -- One Color Comm 401K Retirement Plan 700 17th St Ste 150 Denver CO Citigroup Global Markets, Inc. -- -- 5.90% -- -- 333 West 34th Street New York NY Money Market - ----------------------------------------------------------------------------------------------- Citigroup Global Markets Inc. -- -- 10.99% -- -- 333 West 34th Street 7th Floor New York NY Multi Cap Growth - ----------------------------------------------------------------------------------------------- John Hancock Advisers, LLC 33.09% -- -- -- -- Attn. Kelly A. Conway 101 Huntington Avenue Boston MA MCB Trust Services Custodian FBO 10.18% -- -- -- -- The Investment Incentive Plan 700 17th St Suite 150 Denver CO MLPF&S For The Sole Benefit -- 9.23% -- -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive E 2nd Fl Jacksonville FL New York Tax-Free - ----------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 16.65% -- -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive E 2nd Fl Jacksonville FL 42 New York Tax-Free Class A Class B Class C Class I Class R - --------------------------------------------------------------------------------------------- Legg Mason Wood Walker Inc -- -- 23.80% -- -- For Exclusive Benefit of Customers P.O. Box 1476 Baltimore MD UBS Financial Services Inc. FBO -- -- 9.89% -- -- Janet Schwartz Feldman 5 Cherry Lane Kings Point NY US Clearing Corp -- -- 6.13% -- -- FBO 120-12596-19 26 Broadway New York NY Citigroup Global Markets Inc. -- 6.54% 7.11% -- -- 333 West 34th Street New York NY Real Estate - --------------------------------------------------------------------------------------------- NFSC FEBO 6.78% -- -- -- -- Premiere Select Retirement Plan NFSC/FMTC TTEE 24610 Detroit Road Teal Place Suite 2000 Cleveland OH MLP&F For the Sole Benefit -- 11.92% -- -- -- of its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Regional Bank - --------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit 12.81% 17.28% 21.86% -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive E 2nd Fl Jacksonville FL Citigroup Global Markets Inc. 6.52% 7.58% 9.36% -- -- 333 West 34th Street New York NY Legg Mason Wood Walker Inc -- -- 7.97% -- -- For Exclusive Benefit of Customers P.O. Box 1476 Baltimore MD 43 Small Cap Equity Class A Class B Class C Class I Class R - ---------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit 11.05% 13.84% 14.71% -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive E 2nd Fl Jacksonville FL Citigroup Global Markets, Inc. -- 5.51% 13.79% -- -- 333 West 34th Street New York NY NFSC FEBO -- -- -- 79.09% -- FIIOC Agent FBO Qualified Employee Plans 401K FINOPS-IC Funds 100 Magellan Way #KW1C Covington KY MCB Trust Services Custodian FBO -- -- -- 17.07% -- The Investment Incentive Plan 700 17th St STE 150 Denver CO John Hancock Advisers LLC -- -- -- -- 66.20% Attn: Kelly A. Conway 101 Huntington Avenue Boston MA MCB Trust Services Custodian FBO -- -- -- -- 9.95% Inkstone Printing Company Inc. 700 17th St Suite 150 Denver CO MCB Trust Services Custodian FBO -- -- -- -- 7.72% Rock and Associates 700 17th St STE 150 Denver CO MCB Trust Services Custodian FBO -- -- -- -- 6.18% Retirement Plan Solutions 700 17th St STE 150 Denver CO Small Cap Growth - ---------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit 14.55% 21.00% 43.66% -- -- of its Customers Attn: Fund Administration 4800 Deerlake Drive East 2nd Floor Jacksonville FL NFSC FEBO -- -- -- 69.02% -- FIIOC Agent FBO Qualified Employee Plans 401K FINOPS-IC Funds 100 Magellan Way #KW1C Covington KY 44 Small Cap Growth Class A Class B Class C Class I Class R - ------------------------------------------------------------------------------------------ Fidelity Investments Institutional -- -- -- 26.05% -- Operations Co (FIIOC) -- As Agent For Certain Employee Benefit Plans 82 Devonshire St Boston MA Sovereign Investors - ------------------------------------------------------------------------------------------ MCB Trust Services Custodian FBO -- -- -- 91.32% -- The Investment Incentive Plan 700 17th St Suite 150 Denver CO Citigroup Global Markets Inc -- -- 6.10% -- -- 333 West 34th Street New York NY MLPF&S For The Sole Benefit -- -- 5.36% -- -- of Its Customers Attn: Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Legg Mason Wood Walker Inc -- -- 5.60% -- -- For Exclusive Benefit of Customers P.O. Box 1476 Baltimore MD John Hancock Advisers LLC -- -- -- -- 96.96% Attn: Kelly A. Conway 101 Huntington Avenue Boston MA Strategic Income - ------------------------------------------------------------------------------------------ MCB Trust Services Custodian FBO -- -- -- 59.91% -- The Investment Incentive Plan 700 17th St STE 150 Denver CO Aspen Education Group ISOP Trust -- -- -- 21.25% -- TTEE Alta Heimbuck 555 SW Oak St #PL6 Portland OR MLPF&S For The Sole Benefit -- 19.17% 35.85% 11.51% -- of Its Customers Attn Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Citigroup Global Markets Inc -- 6.60% 8.29% -- -- 333 West 34th Street New York NY 45 Strategic Income Class A Class B Class C Class I Class R - ------------------------------------------------------------------------------------------- John Hancock Advisers LLC -- -- -- -- 67.54% Attn: Kelly A. Conway 101 Huntington Avenue Boston MA MCB Trust Services Custodian -- -- -- -- 13.05% Inkstone Printing Company Inc. 700 17th St Suite 150 Denver CO MCB Trust Services Custodian -- -- -- -- 11.24% American Claim Services Inc. 700 17th St Ste 150 Denver CO Tax-Free Bond - ------------------------------------------------------------------------------------------- MLPF&S For The Sole Benefit -- 9.91% 16.60% -- -- of Its Customers Attn: Fund Administration 4800 Deerlake Drive East 2nd Floor Jacksonville FL Citigroup Global Markets Inc. -- -- 7.57% -- -- 333 West 34th Street New York NY Stanley C. Younger -- -- 7.05% -- -- Henrietta Younger 4719 Horseshoe Trl Macungie PA UBS Financial Services Inc. FBO -- -- 5.67% -- -- Janet Schwartz Feldman 5 Cherry Lane Kings Point NY Technology - ------------------------------------------------------------------------------------------- NFSC FEBO 10.43% -- -- -- -- FIIOC Agent FBO Qualified Employee Plans 401K FINOPS-IC Funds 100 Magellan Way # KW1C Covington KY MLPF&S For The Sole Benefit -- 9.39% 12.52% -- -- of its Customers Attn: Fund Administration 974DB0 4800 Deerlake Drive East 2nd Floor Jacksonville FL Citigroup Global Markets, Inc. -- 6.56% 13.94% -- -- 333 West 34th Street New York NY 46 Technology Class A Class B Class C Class I Class R - ------------------------------------------------------------------------------------------- John Hancock Advisers LLC -- -- -- 100.0% -- Attn: Kelly A. Conway 101 Huntington Avenue Boston MA U.S. Global Leaders Growth - ------------------------------------------------------------------------------------------- MLPF&S For the Sole Benefit 13.49% 18.97% 35.20% 12.43% 81.07% of Its Customers Attn Fund Administration 4800 Deer Lake Drive East 2nd Fl Jacksonville FL Charles Schwab & Co 5.68% -- -- -- -- 101 Montgomery Street San Francisco CA Citigroup Global Markets Inc -- 7.01% 10.27% -- -- 333 West 34th Street New York NY Canal Securities Company -- -- -- 34.22% -- One Chemung Canal Plaza Elmira NY MCB Trust Services Custodian -- -- -- 26.65% -- The Investment Incentive Plan 700 17th St Ste 150 Denver CO Putnam Fiduciary Trust Co. TTEE FBO -- -- -- 7.54% -- Horizon Savings Investment Plan One Investors Way Norwood MA John Hancock Advisers LLC -- -- -- -- 7.36% Attn: Kelly A. Conway 101 Huntington Avenue Boston MA U.S. Government Cash Reserve - ------------------------------------------------------------------------------------------- MCB Trust Services Custodian FBO 5.09% -- -- -- -- Derlan Precision Gear Vol Savings 700 17th St Suite 150 Denver CO As of September 16, 2004, the Trustees and officers of each fund owned in the aggregate less than 1% of the outstanding shares of that fund. 47 EXHIBIT A JOHN HANCOCK FUNDS ADMINISTRATION COMMITTEE CHARTER A. Composition. The Administration Committee shall be composed of all Trustees who are both "independent" as defined in the rules of the New York Stock Exchange and are not "interested persons" as defined in the Investment Company Act of 1940 of John Hancock Adviser LLC or of the Trust (the "Independent Trustees"). B. Overview. The overall charter of the Administration Committee is: (i) to review and comment on complex-wide matters to facilitate uniformity among the funds; (ii) to select and nominate Independent Trustees to be added to the Board; (iii) to oversee liaison between management and the Independent Trustees; (iv) to review the performance of the Independent Trustees as appropriate; (v) to review matters relating to the Independent Trustees, such as compensation, retirement arrangements, Committee assignments and the like; (vi) to consider matters of general corporate governance applicable to the Independent Trustees, and (vii) when appropriate, to oversee the assignment of tasks to other Committees. C. Nomination of Independent Trustees 1. Selection of Trustee Nominees. Except where the funds are legally required to provide third parties with the ability to nominate trustees, the Administration Committee shall be responsible for (i) identifying individuals qualified to become Independent Trustees and (ii) recommending to the Board of Trustees the persons to be nominated for election as Independent Trustees at any meeting of stockholders and the persons to be elected by the Board to fill any vacancies on the Board by the death, resignation or removal of an Independent Trustee. Persons to serve as Trustees who are not Independent Trustees shall be nominated by the Board. 2. Criteria for Selecting Trustees. The Administration Committee shall use the criteria and the principles set forth on Annex A, as revised from time to time, to guide its trustee selection process. The Administration Committee shall periodically review the requisite skills and criteria for Independent Trustees as well as the composition of the Board as a whole. The Committee shall adopt, and periodically review and revise as it deems appropriate, procedures regarding trustee candidates recommended by shareholders. The current policy is attached as Annex A. D. Other Specific Responsibilities. The Administration Committee shall have the following duties and powers, to be exercised at such times and in such manner as the Committee shall deem necessary or appropriate: A-1 1. To consider the allocation of activities among the various Committees and the full Board, to suggest to the Committees the degree of detail in their reports to the full Board, and to establish membership and rotation policies for Committees. 2. To consider the number of funds under supervision by the Independent Trustees and the ability of the Independent Trustees to discharge successfully their fiduciary duties and to pursue self-education in mutual fund matters. 3. To propose the amount of compensation to be paid by the funds to the Independent Trustees and to address compensation-related matters, such as expense reimbursement policies. 4. To evaluate, from time to time, the time, energy, expertise, knowledge, judgment and personal skills which Independent Trustees brings to the Board and to consider retirement policies for the Independent Trustees. 5. To participate in the development of agendas for Board and Committee meetings. 6. To consider, evaluate and make recommendations regarding the type and amount of fidelity bond, and director and officer and/or errors and omission insurance coverage, for the funds, the Board and the Independent Trustees, as applicable. 7. To consider, evaluate and make recommendations and necessary findings regarding independent legal counsel and any other advisers, experts or consultants, that may be engaged from time to time, other than as may be engaged directly by another Committee. 8. To evaluate feedback from shareholders as appropriate. Annex A includes procedures for shareholders to communicate with the members of the Administration Committee. E. Additional Responsibilities. The Committee will also perform other tasks assigned to it from time to time by full Board, and will report findings and recommendations to the full Board, as appropriate. F. Governance. One member of the Committee shall be appointed as chair. The chair shall be responsible for leadership of the Committee, including scheduling meetings or reviewing and approving the schedule for them, preparing agendas or reviewing and approving them before meetings, presiding over meetings, and making reports to the full Board, as appropriate. G. Miscellaneous. The Committee shall meet as often as it deems appropriate, with or without management, as circumstances require. The Committee shall have the resources and authority appropriate to discharge its A-2 responsibilities, including the authority to retain special counsel and other advisers, experts or consultants, at the funds' expense, as it determines necessary to carry out its duties. The Committee shall have direct access to such officers of and service providers to the funds as it deems desirable. H. Review. The Committee shall review this Charter periodically and recommend such changes to the full Board as it deems desirable. A-3 ANNEX A General Criteria 1. Nominees should have a reputation for integrity, honesty and adherence to high ethical standards. 2. Nominees should have demonstrated business acumen, experience and ability to exercise sound judgments in matters that relate to the current and long-term objectives of the fund(s) and should be willing and able to contribute positively to the decision-making process of the fund(s). 3. Nominees should have a commitment to understand the fund(s), and the responsibilities of a Trustee/Director of an investment company and to regularly attend and participate in meetings of the Board and its committees. 4. Nominees should have the ability to understand the sometimes conflicting interests of the various constituencies of the fund, including shareholders and the management company, and to act in the interests of all shareholders. 5. Nominees should not have, nor appear to have, a conflict of interest that would impair the nominee's ability to represent the interests of all the shareholders and to fulfill the responsibilities of a director /trustee. 6. Nominees shall not be discriminated against on the basis of race, religion, national origin, sex, sexual orientation, disability or any other basis proscribed by law. The value of diversity on the Board should be considered. Application of Criteria to Existing The renomination of existing Trustees should not be viewed as automatic, but should be based on continuing qualification under the criteria set forth above. In addition, the Administrative Committee shall consider the existing trustees' performance on the Board and any committee. Review of Shareholder Nominations Any shareholder recommendation must be submitted in compliance with all of the pertinent provisions of Rule 14a-8 under the Securities Exchange Act of 1934 to be considered by the Administration Committee. In evaluating a nominee recommended by a shareholder, the Administration Committee, in addition to the criteria discussed above, may consider the objectives of the shareholder in submitting that nomination and whether such objectives are consistent with the interests of all shareholders. If the Board determines to include a shareholder's candidate among the slate of nominees, the candidate's name will be placed on the fund's proxy card. If the Administration A-4 Committee or the Board determines not to include such candidate among the Board's designated nominees and the shareholder has satisfied the requirements of Rule 14a-8, the shareholder's candidate will be treated as a nominee of the shareholder who originally nominated the candidate. In that case, the candidate will not be named on the proxy card distributed with the fund's proxy statement. As long as an existing Independent Trustee continues, in the opinion of the Administration Committee, to satisfy the criteria listed above, the Committee generally would favor the re-nomination of an existing Trustee rather than a new candidate. Consequently, while the Administration Committee will consider nominees recommended by shareholders to serve as trustees, the Administration Committee may only act upon such recommendations if there is a vacancy on the Board or the Administration Committee determines that the selection of a new or additional Independent Trustee is in the best interests of the fund. In the event that a vacancy arises or a change in Board membership is determined to be advisable, the Administration Committee will, in addition to any shareholder recommendations, consider candidates identified by other means, including candidates proposed by members of the Administration Committee. While it has not done so in the past, the Administration Committee may retain a consultant to assist the Committee in a search for a qualified candidate. Communications from shareholders Shareholders may communicate with the members of the Board as a group or individually. Any such communication should be sent to the Board or an individual Trustee c/o the secretary of the fund at the address on the notice of this meeting. The Secretary may determine not to forward any letter to the members of the Board that does not relate to the business of the fund. A-5 ----------------------- Thank You for mailing your proxy card promptly! ----------------------- John Hancock(R) John Hancock Funds, LLC [graphic omitted] MEMBER NASD WORLDWIDE SPONSOR 101 Huntington Avenue Boston, MA 02199-7603 1-800-225-5291 1-800-554-6713 TDD 1-800-338-8080 EASI-Line www.jhfunds.com Mutual Funds Institutional Services Private Managed Accounts Retirement Plans JHFPX 10/04 John Hancock - ------------ JOHN HANCOCK FUNDS ------------------------------------------------------------------------- THREE EASY WAYS TO VOTE YOUR PROXY Read the Proxy Statement and have the Proxy card at hand. TELEPHONE: Call 1-888-221-0697 and follow the simple instructions INTERNET: Go to www.jhfunds.com/proxy and follow the online instructions MAIL: Vote, sign, date and return your proxy card by mail If you vote by Telephone or Internet, do not mail your proxy. ----------- -------------------------------------------------------------------------- - ------------------ 999 999 999 999 99 - ------------------ FUND NAME PRINTS HERE JOINT SPECIAL MEETING OF SHARHOLDERS-DECEMBER 1, 2004 PROXY SOLICITATION BY THE BOARD OF TRUSTEES The undersigned, revoking previous proxies, hereby appoint(s) Richard A. Brown, Susan S. Newton and William H. King, with full power of substitution in each, to vote all the shares of beneficial interest of the above-referenced Fund which the undersigned is (are) entitled to vote at the Joint Special Meeting of Shareholders (the "Meeting") to be held at 101 Huntington Avenue, Boston, Massachusetts, on December 1, 2004 at 9:00 a.m., Eastern time, and at any adjournment(s) of the Meeting. All powers may be exercised by a majority of all proxy holders or substitutes voting or acting, or, if only one votes and acts, then by that one. Receipt of the Proxy Statement dated October 14, 2004 is hereby acknowledged. If not revoked, this proxy shall be voted for the proposal. PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE Date ______________________,2004 ---------------------------------------- ---------------------------------------- Signature(s) (Sign in the Box) Note: Signature(s) should agree with the name(s) printed herein. When signing as attorney, executor, administrator, trustee or guardian, please give your full name as such. If a corporation, please sign in full corporate name by president or authorized officer. If a partnership, please sign in partnership name by authorized person. JH 12/2004 lp Please fill in box as shown using black or blue ink or number 2 pencil.[X} PLEASE DO NOT USE FINE POINT PENS. VOTE THIS PROXY CARD TODAY! YOUR PROMPT RESPONSE WILL SAVE YOUR FUND THE EXPENSE OF ADDITIONAL MAILINGS THIS PROXY WILL BE VOTED IN FAVOR OF (FOR) PROPOSAL 1 IF NO SPECIFICATION IS MADE BELOW. AS TO ANY OTHER MATTER, THE PROXY OR PROXIES WILL VOTE IN ACCORDANCE WITH THEIR BEST JUDGEMENT. 1. To elect the following nominees to serve as Trustees of the Funds. (1) James F. Carlin (4) Ronald R. Dion (7) Patti McGill Peterson FOR ALL WITHHOLD FOR ALL (2) Richard P. Chapman Jr.(5) Charles L. Ladner (8) Steven R. Pruchansky NOMINEES FROM ALL EXCEPT* (3) William H. Cunningham (6) John A. Moore (9) James A. Shepherdson NOMINEES [ ] [ ] [ ] - ---------------------------------------------------------------------------- *(To withhold authority to vote for any nominee, mark "For All Except" and write that nominee's number on the line above.) PLEASE BE SURE TO DATE AND SIGN THE PROXY CARD IN THE SPACES PROVIDED ON THE REVERSE SIDE JH 12/2004 lp ================================================================================ John Hancock EZVOTE Consolidated Proxy Card - ----------- JOHN HANCOCK FUNDS This form is your EzVote Consolidated Proxy. It reflects all of your accounts registered to the same Social Security or Tax I.D. number at this address. By voting and signing the Consolidated Proxy Card, you are voting all of these accounts in the same manner as indicated on the reverse side of the form. - ------------------ 999 999 999 999 99 - ------------------ PROXY FOR THE JOINT SPECIAL MEETING OF SHAREHOLDERS - DECEMBER 1, 2004 The undersigned, revoking previous proxies, hereby appoint(s) Richard A. Brown, Susan S. Newton and William H. King, with full power of substitution in each, to vote all the shares of beneficial interest which the undersigned is (are) entitled to vote at the Joint Special Meeting of Shareholders (the "Meeting") to be held at 101 Huntington Avenue, Boston, Massachusetts, on December 1, 2004 at 9:00 a.m., Eastern time, and at any adjournment(s) of the Meeting. All powers may be exercised by a majority of all proxy holders or substitutes voting or acting, or, if only one votes and acts, then by that one. Receipt of the Proxy Statement dated October 14, 2004 is hereby acknowledged. If not revoked, this proxy shall be voted for the proposal. PLEASE SIGN, DATE AND RETURN PROMPTLY IN ENCLOSED ENVELOPE Date __________________, 2004 -------------------------------- -------------------------------- Signature(s) (Sign in the Box) NOTE: Signature(s) should agree with the name(s) printed herein. When signing as attorney, executor, administrator, trustee or guardian, please give your full name as such. If a corporation, please sign in full corporate name by president or other authorized officer. If a partnership, please sign in partnership name by authorized person. JH 2004 EZ lp ==============DETACH CONSOLIDATED PROXY CARD AT PERFORATION BELOW=============== - -------------------------------------- VOTE ON THE INTERNET [Computer Graphic] o Log on to: www.jhfunds.com/proxy o Follow the on-screen instructions. - -------------------------------------- - -------------------------------------- VOTE BY PHONE [Phone Graphic] o Dial 1-888-221-0697 (TOLL FREE) o Follow the recorded instructions. - -------------------------------------- - -------------------------------------- VOTE BY MAIL [Mail Graphic] o Vote, signand date the EZVote o Detach the upper portion of the card and return in the postage-paid envelope provided. - -------------------------------------- NOTE: If you vote by phone or Internet, do not return your Consolidated Proxy Card. Keep it for your files. INDIVIDUAL BALLOTS On the reverse side of this form (and on accompanying pages, if necessary) you will find individual ballots, one for each of your accounts. If you would wish to vote each of these accounts separately, sign in the signature box below, mark each individual ballot to indicate your vote, detach the form at the perforation above and return the individual ballots portion only. NOTE: If you elect to vote each account separately, do not return the Consolidated Proxy Card above. SIGN BELOW ONLY IF YOU ARE VOTING EACH ACCOUNT SEPARATELY Date __________________, 2004 ------------------------------------------------------------ ------------------------------------------------------------ Signature(s) (Please sign in box) NOTE: Signature(s) should agree with the name(s) printed herein. When signing as attorney, executor, administrator, trustee or guardian, please give your full name as such. If a corporation, please sign in full corporate name by president or other authorized officer. If a partnership, please sign in partnership name by authorized person. JH 2004 EZ IND lp ================================================================================ EZVOTE Consolidated Proxy Card Please fill in box as shown using black or blue ink or number 2 pencil. [X] PLEASE DO NOT USE FINE POINT PENS. THIS PROXY WILL BE VOTED IN FAVOR OF (FOR) PROPOSAL 1 IF NO SPECIFICATION IS MADE BELOW. AS TO ANY OTHER MATTER, THE PROXY OR PROXIES WILL VOTE IN ACCORDANCE WITH THEIR BEST JUDGEMENT. 1. To elect the following nominees to serve as Trustees of the Funds. (1) James F. Carlin (4) Ronald R. Dion (7) Patti McGill Peterson FOR ALL WITHHOLD FOR ALL (2) Richard P. Chapman Jr.(5) Charles L. Ladner (8) Steven R. Pruchansky NOMINEES FROM ALL EXCEPT* (3) William H. Cunningham (6) John A. Moore (9) James A. Shepherdson NOMINEES [ ] [ ] [ ] - ---------------------------------------------------------------------------- *(To withhold authority to vote for any nominee, mark "For All Except" and write that nominee's number on the line above.) PLEASE BE SURE TO DATE AND SIGN THE PROXY CARD IN THE SPACES PROVIDED ON THE REVERSE SIDE JH 2004 EZ lp ==============DETACH CONSOLIDATED PROXY CARD AT PERFORATION BELOW=============== INDIVIDUAL BALLOTS NOTE: IF YOU HAVE USED THE CONSOLIDATED BALLOT ABOVE, DO NOT VOTE THE INDIVIDUAL BALLOTS BELOW. - -------------------------------------------------------------------------------- 999 999 999 999 99 FUND NAME PRINTS HERE FOR ALL WITHHOLD FOR ALL NOMINEES FROM ALL EXCEPT* NOMINEES 1. ELECTION OF TRUSTEES [ ] [ ] [ ] (See Nominee list on consolidated ballot.) * EXCEPT _______________________________________ - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 999 999 999 999 99 FUND NAME PRINTS HERE FOR ALL WITHHOLD FOR ALL NOMINEES FROM ALL EXCEPT* NOMINEES 1. ELECTION OF TRUSTEES [ ] [ ] [ ] (See Nominee list on consolidated ballot.) * EXCEPT _______________________________________ - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 999 999 999 999 99 FUND NAME PRINTS HERE FOR ALL WITHHOLD FOR ALL NOMINEES FROM ALL EXCEPT* NOMINEES 1. ELECTION OF TRUSTEES [ ] [ ] [ ] (See Nominee list on consolidated ballot.) * EXCEPT _______________________________________ - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 999 999 999 999 99 FUND NAME PRINTS HERE FOR ALL WITHHOLD FOR ALL NOMINEES FROM ALL EXCEPT* NOMINEES 1. ELECTION OF TRUSTEES [ ] [ ] [ ] (See Nominee list on consolidated ballot.) * EXCEPT _______________________________________ - -------------------------------------------------------------------------------- JH 2004 EZ IND lp Internet Proxy Voting Service Proxy Voting Form John Hancock Funds John Hancock ____________ Fund THE BOARD OF TRUSTEES RECOMMENDS A VOTE "FOR" THE FOLLOWING PROPOSAL. Proposal 1. To elect the following nominees to serve as Trustees of the Funds. [ ]FOR all nominees [ ]WITHHOLD AUTHORITY to vote for all nominees [ ]FOR all nominees (Except as indicated) (01) [ ]James F. Carlin (02) [ ]Richard P. Chapman Jr. (03) [ ]William H. Cunningham (04) [ ]Ronald R. Dion (05) [ ]Charles L. Ladner (06) [ ]John A. Moore (07) [ ]Patti McGill Peterson (08) [ ]Steven R. Pruchansky (09) [ ]James A. Shepherdson - -------------------------------------------------------------------------------- Please refer to the proxy statement for discussion of this matter. If no specification is made, the proposal will be voted "For". - -------------------------------------------------------------------------------- To receive an optional email confirmation, enter your email address here: ------------------- ------------------- Please review your selections carefully before voting. If you vote more than once on the same Proxy, only your last (most recent) vote will be considered valid. -------- Press this button to Submit your Proxy Vote. --------