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JOHN HANCOCK ANNOUNCES AWARDS FOR EXCELLENCE WINNERS

 JOHN HANCOCK ANNOUNCES AWARDS FOR EXCELLENCE WINNERS
 BOSTON, May 13 /PRNewswire/ -- Corruption at the Bank of Credit & Commerce International (BCCI), and the merger of Security Pacific and Bank of America were among the subjects of winning articles in the 25th annual Awards for Excellence in Business and Financial Journalism competition sponsored by John Hancock Financial Services.
 Stephen L. Brown, Hancock chairman and chief executive officer, announced the following winners: Jonathan Beaty and S.C. Gwynne of TIME Magazine; Alan Murray of the Wall Street Journal; a Boston Globe team including Gerard O'Neill, Dick Lehr, Bruce Mohl, Brian Mooney and Karen Douglass; Mike Casey and Russell Carollo of the Dayton (Ohio) Daily News; Eric Blom of the Portland (Maine) Press Herald; Jane Bryant Quinn of Newsweek and Allan Sloan of Newsday; and a Los Angeles Times team including Martha Groves, Victor Zonana, Kathy Kristof, Bruce Horovitz, Susan Moffat, Daniel Akst and Tom Furlong.
 A $5,000 prize is awarded in each of the seven categories.
 Also, in celebration of its 25 years of recognizing outstanding business journalists, John Hancock has commissioned Louis Harris and Associates to conduct a national poll measuring progress in business reporting over the last 25 years. The poll results will be released this fall.
 The winning journalists and news media organizations, whose work was judged to have contributed significantly to improved understanding of business and finance during 1991, will be honored in the fall in New York at a program co-sponsored by John Hancock and Fordham University's Graduate School of Business.
 TIME's Beaty and Gwynne won in the writers for magazines of general interest category for coverage of Bank of Credit & Commerce International (BCCI). The articles report the multi-billion dollar hole in BCCI's balance sheets; the front men who used BCCI money for their personal use, in helping prop up failed savings and loans, and in weapons-smuggling operations; and how U.S. government agencies, especially the Justice Department, ignored audits pointing to the bank's dealings. This is the sixth time that TIME has been an Awards for Excellence recipient.
 Murray of the Wall St. Journal took top honors in the writers for financial-business newspapers and magazines category for his articles on the Federal Reserve Board. Murray's articles describe Fed Chairman Alan Greenspan's leadership and the Fed's efforts to pull the country out of 1991's recession. This is the eighth time the Wall Street Journal has been an Awards for Excellence recipient.
 In the newspapers with circulation above 300,000 category, the Boston Globe team of O'Neill, Lehr, Mohl, Mooney and Douglass won with its series on Massachusetts' public pension boards. The articles focused on policy issues raised by the manipulation of unsuspecting public pension managers, and detailed how Boston broker Carmen Elio controlled pension investments for his own benefit. This is the fourth time The Boston Globe has been an Awards for Excellence recipient.
 "Lives on the Line," a five-part series on worker safety in America by Dayton Daily News Reporters Casey and Carollo, won in the writers for newspapers with circulation 100,000-300,000 category. The articles suggest that the Occupational Safety and Health Association's failure to levy high fines on employers who neglect safety standards contributes to the death of 60,000 workers each year.
 Portland Press Herald reporter Blom won in the writers for newspapers with circulation under 100,000 category for his articles on the workers' compensation system in Maine, the state with the highest per capita on-the-job injuries, death and illness. The articles describe workers' comp as an ineffective system that costs taxpayers millions, drives businesses to spend money on premiums at the expense of other benefits, and pits employers against injured employees.
 Columnists Quinn of Newsweek and Sloan of Newsday tied in the financial-business columnist category. Quinn won for her consumer columns dealing with issues such as weathering the recession, saving for college and retirement, and caring for elderly parents. This is the second time Newsweek has been an Awards for Excellence recipient and the second time Quinn has received the award.
 Sloan won for his financial columns dealing with First Executive Corp.'s 10k report as compared to a Stephen King nightmare, News Corp. Ltd.'s part-ownership of Ansett Worldwide Aviation Services, as well as profiles of Time Warner's Steve Ross and Marvel Comics' Ronald Perelman. This is the fourth time Newsday has been an Awards for Excellence recipient.
 The team of Los Angeles Times writers -- Groves, Zonana, Kristof, Horovitz, Moffat, Akst and Furlong -- won the deadline news stories category for its coverage of the Bank of America and Security Pacific merger, which created the second largest U.S. bank with $190 billion in assets. The day after the announcement, the Times featured stories explaining the merger negotiations, the expected impact on customers and workers, and profiles of the chairmen of both banks. This is the fourth time the Los Angeles Times has been an Awards for Excellence recipient. Akst has been the recipient of one prior Award for Excellence.
 The John Hancock Awards for Excellence competition recognizes that lucid reporting, interpretation and writing of business and financial news is essential to the economic strength of the nation and the financial well-being of investors and consumers.
 Winners in seven categories were selected by a panel of judges consisting of Gerard Bray, business editor, The New York Post and president, New York Financial Writers' Association; Ernie Ford, executive director, Society of Professional Journalists; Professor William Small, director of the Center for Communications, Fordham University Graduate School of Business; Randy Smith, assistant managing editor/business, The Kansas City Star, and president, Society of American Business Editors & Writers; and Gregory Spears, Washington correspondent for Knight-Ridder Financial News and president, National Press Club.
 Preliminary judges for the contest included Larry Edelman, assistant business editor, The Boston Globe; David Funkhouser, managing editor, Middlesex News; Marie Gendron, business writer, Boston Herald; Paul Katzeff, correspondent, Money; Gary McWilliams, Boston bureau chief, Business Week; and Jonathan Yenkin, business reporter, The Associated Press.
 Individual judges did not vote on categories in which their respective media organizations were competing.
 Material, including entry forms, will be distributed in the fall for those news organizations and journalists planning to submit entries based on articles published in 1992.
 John Hancock Financial Services is a major diversified organization that includes John Hancock Mutual Life Insurance Co., the nation's eighth-largest life insurer, and 22 subsidiaries offering a broad range of financial services, including mutual funds, securities brokerage and venture capital.
 -0- 5/13/92
 /CONTACT: Ralph W. Brunner of John Hancock Financial Services, 617-572-6385/ CO: John Hancock Financial Services ST: Massachusetts IN: SU:


TM-SH -- NE013 -- 9932 05/13/92 17:24 EDT
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Date:May 13, 1992
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