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JOHN HANCOCK ANNOUNCES AWARDS FOR EXCELLENCE WINNERS

 BOSTON, June 3 /PRNewswire/ -- Fraud against the "little guy" was a recurring theme among winning articles in the 26th 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 today the following winners: William Sternberg writing for The Atlantic; G. David Wallace and team of Business Week; Scot Paltrow of the Los Angeles Times; Fred Schulte of the (Fort Lauderdale, Fla.) Sun-Sentinel; William Levesque of The Ledger (Lakeland, Fla.); Joanne Lipman of The Wall Street Journal; and a team of writers from The Hartford Courant.
 A $5,000 prize is awarded in each of the seven categories.
 The winning journalists and news media organizations, whose work was judged to have contributed significantly to improved understanding of business and finance during 1992, 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.
 Sternberg of The Atlantic won in the writers for magazines of general interest category with an in-depth examination of why the auditing system in the United States has failed to protect investors and taxpayers. The judges said Sternberg worked to make an extremely complex subject accessible to the public but still meaningful to those knowledgeable in the field. This is the third time The Atlantic has been an Awards for Excellence recipient.
 Business Week's G. David Wallace and team took top honors in the writers for financial-business newspapers and magazines category for a special issue entitled "Reinventing America." The issue, published on the 500th anniversary of the European discovery of America, tackled virtually every problem facing America, from the economy to healthcare, including education and welfare reform. This is the ninth time Business Week has been an Awards for Excellence recipient.
 In the newspapers with circulation above 300,000 category, Scot Paltrow of the Los Angeles Times won with his investigative series "Investors at Risk." The series documented wide-spread fraud against small investors by brokerage firms. Paltrow found that because the securities industry is largely left to regulate itself, disciplinary cases often take years to complete while brokers typically remain at their desks to continue their fraudulent practices. This is the eighth time the Los Angeles Times has been an Awards for Excellence recipient.
 Sun-Sentinel Reporter Schulte won in the writers for newspapers with circulation 100,000 to 300,000 category for his series documenting telemarketing schemes that have victimized more than 2 million people for more than $800 million.
 A five-part series by (Lakeland, Fla.) Ledger Reporter Levesque, won in the circulation under 100,000 category. In the series, Levesque argued that a manufacturer knew its fungicide might kill plants but continued to sell it, eventually helping to destroy Florida crops.
 Lipman won the financial-business columnist category for her daily advertising column in The Wall Street Journal. Her columns examined the fact that Subaru's highly touted ad campaign wasn't selling cars; that book publishers falsely claim books are bestsellers; and that the advertising industry failed in its effort to squelch negative political advertising in the 1992 presidential campaign. This is the ninth time The Wall Street Journal has been an Awards for Excellence recipient.
 The team of Hartford Courant writers won the deadline news stories category for its coverage of the United Technologies Corp.'s announcement that it was eliminating 13,900 jobs, closing or consolidating 100 facilities and cutting costs by more than $1 billion. In one day, the Hartford Courant produced news stories, analysis pieces and graphics to convey the impact of the announcement to workers, suppliers and the public.
 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 Clayton Boyce, news editor, Knight-Ridder/Tribune News Service and president, National Press Club; Martin Cherrin, editor-in- charge, Reuters and president, New York Financial Writers' Association; Jim Kennedy, business editor, Associated Press and president, the Society of American Business Editors and Writers; Dean William Small, director of the Center for Communications, Fordham University Graduate School of Business; and Georgiana Vines, assistant managing editor, Knoxville News-Sentinel and president, Society of Professional Journalists.
 Preliminary judges for the contest included: John Abell, Boston bureau chief, Reuters; Carolyn Friday, correspondent, Newsweek; Mary Helen Gillespie, financial editor, Boston Herald; David Oliveri, reporter, Boston Business Journal; Sue Reinert, business reporter, (Quincy, Mass.) Patriot Ledger and Robert Ward, night editor, The Boston Globe.
 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 1993.
 -0- 6/3/93
 /CONTACT: Melissa Opalka, John Hancock Financial Services, 617-572-6390/


CO: John Hancock Financial Services ST: Massachusetts IN: FIN SU:

DJ -- NE010 -- 5071 06/03/93 14:32 EDT
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Date:Jun 3, 1993
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