NOTES TO PRO FORMA FINANCIAL STATEMENTS (UNAUDITED)
1. BASIS OF COMBINATION. The Pro Forma Combining Schedule of Portfolio Investments, the Statement
of Assets and Liabilities and the Statement of Operations reflect the accounts of the Manufacturers Investment
Trust Investment Quality Bond ("Investment Quality Bond") and Capital Growth Bond ("Capital Growth Bond")
Trusts, two of thirty six investment Portfolios offered by the Manufacturers Investment Trust (the "Trust") for the
year ended December 31, 1998. These statements have been derived from the books and records of each
Portfolio utilized in calculating daily net asset value at December 31, 1998.
The Pro Forma statements reflect the proposed transfer of the assets and liabilities of Capital Growth Bond in
exchange for shares of Investment Quality Bond. Under generally accepted accounting principles ("GAAP"), the
Investment Quality Bond will be the surviving entity for accounting purposes. The Pro Forma financial statements
have been adjusted to reflect the anticipated fee arrangements for the surviving entity and do not reflect the
expenses of either Portfolio in carrying out its obligations under the Agreement and Plan of Reorganization.
The Pro Forma Combining Schedule of Portfolio Investments, Statement of Assets and Liabilities and Statement
of Operations should be read in conjunction with the historical financial statements of Investment Quality Bond
and Capital Growth Bond incorporated by reference in the Statement of Additional Information.
Manufacturers Securities Services, LLC ("MSS"), a wholly-owned subsidiary of The Manufacturers Life
Insurance Company of North America ("MNA"), serves as investment adviser to Investment Quality Bond and
Capital Growth Bond for which it receives a fee for services, computed daily and paid monthly, at the annual rate
0.65% of the average daily net assets of each Trust. MNA is controlled by The Manufacturers Life Insurance
Company ("Manulife Financial"), a mutual life insurance company based i