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<SEC-DOCUMENT>0000928816-05-001161.txt : 20050830
<SEC-HEADER>0000928816-05-001161.hdr.sgml : 20050830
<ACCEPTANCE-DATETIME>20050830121610
ACCESSION NUMBER:		0000928816-05-001161
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20050630
FILED AS OF DATE:		20050830
DATE AS OF CHANGE:		20050830
EFFECTIVENESS DATE:		20050830

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HANCOCK JOHN INCOME SECURITIES TRUST /MA
		CENTRAL INDEX KEY:			0000759866
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04186
		FILM NUMBER:		051057755

	BUSINESS ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		601 CONGRESS STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		617-663-3000

	MAIL ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		601 CONGRESS STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSR
<SEQUENCE>1
<FILENAME>ist1.txt
<DESCRIPTION>JOHN HANCOCK INCOME SECURITIES TRUST
<TEXT>

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-4186

John Hancock Income Securities Trust
(Exact name of registrant as specified in charter)

601 Congress Street, Boston, Massachusetts 02110
(Address of principal executive offices) (Zip code)

Alfred P. Ouellette
Senior Attorney and Assistant Secretary
601 Congress Street
Boston, Massachusetts 02110
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-663-4324

Date of fiscal year end:      December 31

Date of reporting period:     June 30, 2005


<PAGE>



ITEM 1.  REPORT TO SHAREHOLDERS.


JOHN HANCOCK
Income Securities Trust

6.30.2005

Semiannual Report

[A 2" x 1" John Hancock (Signature)/John Hancock Funds logo in lower,
center middle of page. A tag line below reads "JOHN HANCOCK FUNDS."]


<PAGE>


[A photo of Keith F. Hartstein, President and Chief Executive Officer of
John Hancock Funds, LLC flush left next to first paragraph.]

CEO CORNER

Table of contents

Your fund at a glance
page 1

Managers' report
page 2

Fund's investments
page 6

Financial statements
page 19

For more information
page 37


To Our Shareholders,

I am pleased to be writing to you as the new President and Chief Executive
Officer of John Hancock Funds, LLC, following the departure of James A.
Shepherdson to pursue other opportunities. In addition, on July 25, 2005,
your fund's Board of Trustees appointed me to the roles of President and
Chief Executive Officer of your fund.

As a means of introduction, I have been involved in the mutual fund
industry since 1985. I have been with John Hancock Funds for the last 15
years, most recently as executive vice president of retail sales and
marketing and a member of the company's executive and investment
committees. In my former capacity, I was responsible for all aspects of
the distribution and marketing of John Hancock Funds' open-end and
closed-end mutual funds. Outside of John Hancock, I have served as
Chairman of the Investment Company Institute (ICI) Sales Force Marketing
Committee since September 2003.

It is an exciting time to be at John Hancock Funds, and I am grateful for
the opportunity to lead and shape its future growth. With the acquisition
of John Hancock by Manulife Financial Corporation in April 2004, we are
receiving broad support toward the goal of providing our shareholders with
excellent investment opportunities and a more complete lineup of choices
for the discerning investor.

As you may have read, John Hancock recently entered into an agreement with
GMO, a Boston-based institutional money manager, to acquire eight of their
mutual funds. In addition, we are in the process of adding five "Lifestyle
Portfolio" funds-of-funds that blend multiple fund offerings from internal
and external money managers to create a broadly diversified asset
allocation portfolio. Look for more information about these exciting
additions to the John Hancock family of funds in your fourth quarter
shareholder newsletter.

Although there has been a change in executive-level management, rest
assured that the one thing that never wavers is John Hancock Funds'
commitment to placing the needs of shareholders above all else. We are all
dedicated to the task of working with you and your financial advisors to
help you reach your long-term financial goals.

Sincerely,

/s/ Keith F. Hartstein

Keith F. Hartstein,
President and Chief Executive Officer

This commentary reflects the CEO's views as of June 30, 2005. They are
subject to change at any time.


<PAGE>


YOUR FUND
AT A GLANCE

The Fund seeks a
high level of current
income consistent
with prudent
investment risk by
investing at least
80% of its assets in a
diversified portfolio
of income securities.

Over the last six months

* Despite further interest rate increases by the Federal Reserve, bonds
  gained ground amid tame inflation and mixed economic data.

* Treasury and government agency bonds were the best performers, while
  corporate bonds lagged.

* The Fund benefited from its exposure to higher-quality bonds, but its
  reduced interest rate sensitivity hindered performance as bond yields
  declined.

[Bar chart with heading "John Hancock Income Securities Trust." Under the
heading is a note that reads "Fund performance for the six months ended
June 30, 2005." The chart is scaled in increments of 2% with -2% at the
bottom and 8% at the top. The first bar represents the 1.30% net asset
value of the Fund. The second bar represents the -0.03% market value of the
Fund. The third bar represents the 6.88% yield on closing market price. The
first note below the chart reads "The total returns for the Fund include
the reinvestment of all distributions. The performance data contained
within this material represents past performance, which does not guarantee
future results." The second note below the chart reads "The yield on
closing market price is calculated by dividing the current annualized
distribution per share by the closing market price."]

Top 10 issuers

15.0%   Federal National Mortgage Assn.
12.2%   Federal Home Loan Mortgage Corp.
 9.0%   U.S. Treasury
 3.1%   Federal Home Loan Bank
 1.1%   Financing Corp.
 1.0%   Countrywide Home Loans
 1.0%   Washington Mutual, Inc.
 0.9%   Global Signal Trust
 0.9%   Midland Funding Corp. II
 0.8%   Rabobank Capital Fund II

As a percentage of net assets plus value of preferred shares on June 30, 2005.


1
<PAGE>


BY BARRY H. EVANS, CFA, AND JEFFREY N. GIVEN, CFA, PORTFOLIO MANAGERS

MANAGERS'
REPORT

JOHN HANCOCK
Income Securities Trust

The U.S. bond market confounded expectations during the first six months
of 2005, as yields generally declined and bonds posted positive returns
overall. Bonds rallied despite a series of interest rate increases by the
Federal Reserve. The Fed raised its federal funds rate target by a
quarter-point four times in the first half of 2005, for a total of nine
rate hikes since June 2004. The federal funds rate ended the period at
3.25%, its highest level in nearly four years.

Although short-term bond yields rose in response to the Fed's actions --
the two-year Treasury note yield climbed from 3.1% to 3.6% -- longer-term
bond yields declined during the six-month period. Low inflation and mixed
economic data, which suggested that the Fed may end its rate-raising cycle
sooner than originally anticipated, were the main reasons behind the rally
in the long end of the bond market.

"The U.S. bond market con-
 founded expectations during the
 first six months of 2005, as yields
 generally declined and bonds
 posted positive returns
 overall."

The Lehman Brothers U.S. Aggregate Index -- a broad measure of the U.S.
bond market -- returned 2.51% in the first half of 2005. Treasury bonds,
which tend to benefit the most from declining interest rates, posted the
best results. Corporate bonds, the top performers in 2003 and 2004, lagged
the rest of the bond market. In particular, high-yield corporate bonds
produced nearly flat returns during the period.

Fund performance

For the six months ended June 30, 2005, John Hancock Income Securities
Trust produced a total return of 1.30% at net asset value (NAV) and
- -0.03% at market value. The Fund's NAV return and its market performance
differ because the market share price is subject to the dynamics of
secondary market trading, which could cause it to trade at a discount or
premium to the Fund's NAV share


2
<PAGE>


price at any time. For comparison, the average closed-end BBB-rated
corporate debt fund returned 2.77% at net asset value, according to
Lipper, Inc., while the Lehman Brothers Government/Credit Bond Index
returned 2.75%.

[Photos of Barry Evans and Jeff Given, flush right at top of page.]

Staying defensive

In our last report six months ago, we discussed our efforts to establish a
more defensive position for the portfolio, reducing its risk profile
through higher credit quality and less interest rate sensitivity. We
maintained this defensive positioning throughout the first half of 2005,
making few changes to the overall structure of the portfolio.

The portfolio benefited from its exposure to higher-quality bonds as they
outperformed lower-rated securities. However, the portfolio's reduced
sensitivity to interest rate fluctuations hindered performance, thanks to
the unexpected decline in longer-term bond yields during the period. The
lower rate sensitivity, along with an underweight in Treasury bonds, led
to the portfolio's underperformance of its Lipper peer group and the
Lehman index.

Better quality, same yield

The few changes we made to the portfolio during the period involved
upgrading credit quality by selling some of our lower-rated corporate
bonds and adding more government agency and mortgage-backed securities to
the portfolio. We focused on callable government agency securities
maturing in two to three years. These AAA-rated bonds offered yields that
were equal to or higher than BBB-rated corporate bonds with similar
maturities, so we were able to trade up in credit quality without giving
up any yield.

"The best individual performers in
 the portfolio were longer-term,
 higher-quality bonds."

In the mortgage-backed market, we invested in adjustable-rate mortgages,
which reset their interest rates at regular intervals. These short-term
bonds also carry AA or AAA ratings and offered higher yields than
similar-maturity corporate bonds.

Energy, telecom bonds perform well

The best individual performers in the portfolio were longer-term,
higher-quality bonds. One example was Alberta Energy, an A-rated


3
<PAGE>


Canadian oil exploration and production company. Soaring oil prices
provided a lift to Alberta Energy bonds, and the long maturity date (in
2030) allowed them to participate in the general rally in long-term bonds.

[Table at top left-hand side of page entitled "Sector distribution 1." The
first listing is Government - U.S. agency 32%, the second is Financials
22%, the third is Government - U.S. 9%, the fourth is Utilities 8%, the
fifth is Telecommunication services 7%, the sixth is Industrials 6%, the
seventh is Consumer discretionary 5%, the eighth is Materials 3%, the ninth
is Consumer staples 3%, the tenth is Energy 2%, the eleventh is Health care
2% and the twelfth is Government - foreign 1%.]

Another top performer was telecommunication services provider Sprint,
which recently entered into a merger agreement with Nextel. In addition to
their long maturity, Sprint bonds benefited from consolidation in the
wireless industry, which is expected to improve pricing power for wireless
service providers going forward.

Autos hit the skids

The weakest performers in the portfolio were bonds issued by the major
U.S. automakers, General Motors and Ford. Disappointing auto sales,
increased competition and higher gas prices caused GM to warn of lower
earnings, and its credit rating was cut to below-investment-grade status.
Ford, facing similar struggles, teetered on the edge of its own credit
downgrade (which we expect to occur in the next few months). The
downgrades caused sharp declines in the value of their bonds.

[Pie chart at middle of page with heading "Portfolio diversification 1."
The chart is divided into four sections (from top to left): Bonds 55%, U.S.
government & agency bonds 39%, Preferred stocks 5% and Short-term
investments & other 1%.]

We owned a modest amount of both GM and Ford (less than 2% of the
portfolio combined), and our holdings were all shorter-term securities --
Ford Motor Credit bonds maturing in 2009 and GMAC bonds maturing in 2011.
Nonetheless, these securities declined by about 10% during the period.
However, we are confident about the creditworthiness of these shorter-term
bonds and intend to maintain our positions.


4
<PAGE>


Outlook

The U.S. economy, which grew by 4.4% in 2004, is slowing to a more
moderate growth rate in 2005. In addition, the inflation rate has remained
tame despite higher oil prices, and the dollar is strengthening after
several years of weakness. Consequently, we think most of the Fed's work
is done. We expect one or two more rate hikes in the coming months,
followed by a period of stability.

[Table at top of page entitled "SCORECARD." The header for the left column
is "INVESTMENT" and the header for the right column is "PERIOD'S
PERFORMANCE...AND WHAT'S BEHIND THE NUMBERS." The first listing is
Long-term Treasury bonds followed by an up arrow with the phrase "The
longest-term Treasury bond returned 11% as interest rates declined." The
second listing is Barclays Bank followed by an up arrow with the phrase
"AA-rated, long-term security benefited from flight to quality." The third
listing is Qwest followed by a down arrow with the phrase "Repeated
attempts to outbid Verizon in order to acquire MCI disappointed
investors."]

Given the moderate economic and inflationary environment, we don't expect
bond yields to rise significantly in the second half of 2005. The spreads
between corporate bond yields and Treasury yields remain near historically
low levels, but modest issuance in the corporate bond market and strong
corporate balance sheets should help keep spreads from widening
substantially. We continue to find many attractive investment
opportunities in the corporate bond market.

"Given the moderate economic
and inflationary environment, we
don't expect bond yields to rise
significantly in the second half
of 2005."

Within the portfolio, we intend to maintain our current positioning going
forward. If interest rates rise sharply, we may look to increase the
portfolio's interest rate sensitivity.

This commentary reflects the views of the portfolio managers through the
end of the Fund's period discussed in this report. The managers'
statements reflect their own opinions. As such, they are in no way
guarantees of future events, and are not intended to be used as investment
advice or a recommendation regarding any specific security. They are also
subject to change at any time as market and other conditions warrant.

1 As a percentage of the Fund's portfolio on June 30, 2005.


5
<PAGE>



FINANCIAL STATEMENTS

FUND'S
INVESTMENTS

Securities owned
by the Fund on
June 30, 2005
(unaudited)

This schedule is divided into four main categories: bonds, preferred
stocks, U.S. government and agencies securities and short-term
investments. Bonds, preferred stocks and U.S. government and agencies
securities are further broken down by industry group. Short-term
investments, which represent the Fund's cash position, are listed last.

<TABLE>
<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>          <C>        <C>
Bonds 84.68%                                                                                                     $149,764,617
(Cost $146,563,277)

Aerospace & Defense 0.65%                                                                                           1,158,892
Raytheon Co.,
Note                                                        8.300%       03-01-10        BBB-          $1,000       1,158,892

Agricultural Products 0.53%                                                                                           940,066
Corn Products International, Inc.,
Sr Note                                                     8.450        08-15-09        BBB-             835         940,066

Airlines 1.06%                                                                                                      1,883,662
Continental Airlines, Inc.,
Pass Thru Ctf Ser 1999-1 Class A                            6.545        02-02-19        A-               626         626,733
Pass Thru Ctf Ser 2000-2 Class A-1                          7.707        04-02-21        BBB              449         449,199
Pass Thru Ctf Ser 2000-2 Class B (L)                        8.307        10-02-19        BB-              438         364,142
Pass Thru Ctf Ser 2001-1 Class C                            7.033        06-15-11        B+               338         283,422
Jet Equipment Trust,
Equip Trust Ctf Ser 1995-B2 (B)(H)(S)                      10.910        08-15-14        D                550           2,750
Northwest Airlines Corp.,
Pass Thru Ctf Ser 1996-1D                                   8.970        01-02-15        CCC+             257         157,416

Apparel Retail 0.34%                                                                                                  593,806
Gap, Inc. (The),
Note (P)                                                    9.550        12-15-08        BBB-             515         593,806

Asset Management & Custody Banks 1.20%                                                                              2,124,360
Rabobank Capital Fund II,
Perpetual Bond (5.260% to 12-31-13
then variable) (S)                                          5.260        12-29-49        AA             2,065       2,124,360

Auto Parts & Equipment 0.25%                                                                                          440,000
American Axle & Manufacturing, Inc.,
Sr Note (L)                                                 5.250        02-11-14        BBB              500         440,000

Broadcasting & Cable TV 2.22%                                                                                       3,934,844
AT&T Broadband Corp.,
Gtd Note                                                    8.375        03-15-13        BBB            1,020       1,243,738
British Sky Broadcasting Group Plc,
Gtd Sr Note (United Kingdom)                                8.200        07-15-09        BBB-             945       1,069,728

See notes to
financial statements.


6
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>            <C>        <C>
Broadcasting & Cable TV (continued)
TCI Communications, Inc.,
Sr Deb                                                      9.800%       02-01-12        BBB             $860      $1,095,380
XM Satellite Radio, Inc.,
Sr Sec Note, Step Coupon (Zero to
12-31-05 then 14.000%) (O)                                   Zero        12-31-09        CCC+             509         525,998

Building Products 1.23%                                                                                             2,183,991
Pulte Homes Inc.,
Sr Note                                                     6.250        02-15-13        BBB-           1,000       1,068,712
Toll Brothers, Inc.,
Gtd Sr Note                                                 6.875        11-15-12        BBB-           1,000       1,115,279

Casinos & Gaming 1.64%                                                                                              2,897,895
Chukchansi Economic Development Auth.,
Sr Note (G)(S)                                             14.500        06-15-09        CCC+             500         611,250
Harrah's Operating Co., Inc.,
Gtd Sr Note                                                 8.000        02-01-11        BBB-             765         877,182
Gtd Sr Note                                                 5.500        07-01-10        BBB-             755         779,193
Waterford Gaming LLC,
Sr Note (S)                                                 8.625        09-15-12        B+               596         630,270

Commodity Chemicals 0.77%                                                                                           1,367,773
RPM International, Inc.,
Sr Note                                                     6.250        12-15-13        BBB            1,300       1,367,773

Construction Materials 0.22%                                                                                          390,000
Votorantim Overseas IV,
Gtd Note (Cayman Islands) (S)                               7.750        06-24-20        BBB-             390         390,000

Consumer Finance 4.32%                                                                                              7,642,216
Barclays Bank Plc,
Perpetual Bond (6.86% to 6-15-32
then variable) (United Kingdom) (S)                         6.860        09-29-49        A+             1,600       1,881,306
CIT Group, Inc.,
Sr Note                                                     5.000        02-13-14        A                750         757,545
Ford Motor Credit Co.,
Note                                                        7.375        10-28-09        BBB-           1,625       1,587,929
General Motors Acceptance Corp.,
Note                                                        7.250        03-02-11        BBB-           1,245       1,167,402
Household Finance Corp.,
Note                                                        6.375        10-15-11        A                645         705,203
HSBC Finance Corp.,
Sr Note                                                     6.750        05-15-11        A              1,390       1,542,831

Department Stores 0.35%                                                                                               622,875
Penney, J.C. Co., Inc.,
Deb                                                         7.650        08-15-16        BB+              550         622,875

See notes to
financial statements.


7
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>            <C>        <C>
Diversified Banks 1.67%                                                                                            $2,953,220
Bank of New York,
Cap Security (S)                                            7.780%       12-01-26        A-              $650         699,597
Chuo Mitsui Trust & Banking Co.,
Perpetual Sub Note (5.506% to
04-15-15 then variable) (Japan) (S)                         5.506        12-01-49        Baa2             390         383,146
Royal Bank of Scotland Group Plc,
Perpetual Bond (7.648% to 09-30-31
then variable) (United Kingdom)                             7.648        08-29-49        A                650         826,590
Wachovia Corp.,
Sub Note                                                    5.250        08-01-14        A-             1,000       1,043,887

Diversified Chemicals 2.12%                                                                                         3,749,617
Lyondell Chemical Co.,
Gtd Sr Sub Note                                            10.875        05-01-09        B                500         518,750
NOVA Chemicals Corp.,
Med Term Note (Canada)                                      7.400        04-01-09        BB+            2,045       2,070,563
Potash Corp. of Saskatchewan, Inc.,
Note (Canada)                                               7.750        05-31-11        BBB+           1,000       1,160,304

Diversified Commercial Services 1.13%                                                                               1,991,247
Hutchison Whampoa International Ltd.,
Gtd Note (United Kingdom) (S)                               6.500        02-13-13        A-               750         814,262
Noble Group Ltd.,
Sr Note (Bermuda) (S)                                       6.625        03-17-15        BB+            1,000         923,235
Sotheby's Holdings, Inc.,
Note                                                        6.875        02-01-09        BB-              250         253,750

Diversified Financial Services 1.65%                                                                                2,915,155
Beaver Valley Funding Corp.,
Sec Lease Obligation Bond                                   9.000        06-01-17        BB+              513         608,716
Glencore Funding LLC,
Gtd Note (S)                                                6.000        04-15-14        BBB-           1,380       1,323,278
St. George Funding Co.,
Perpetual Bond (8.485% to 06-30-17
then variable) (Australia) (S)                              8.485        12-31-49        Baa1             870         983,161

Electric Utilities 9.06%                                                                                           16,014,667
AES Eastern Energy, L.P.,
Pass Thru Ctf Ser 1999-A                                    9.000        01-02-17        BB+            1,106       1,282,586
BVPS II Funding Corp.,
Collateralized Lease Bond                                   8.890        06-01-17        BB+              700         849,947
Empresa Electrica Guacolda S.A.,
Sr Sec Note (Chile) (S)                                     8.625        04-30-13        BBB-             830         918,316
FPL Energy National Wind,
Sec Note (S)                                                5.608        03-10-24        BBB-             400         408,160

See notes to
financial statements.


8
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>            <C>        <C>
Electric Utilities (continued)
HQI Transelect Chile S.A.,
Sr Note (Chile)                                             7.875%       04-15-11        A-            $1,230      $1,419,066
Indiantown Cogeneration, L.P.,
1st Mtg Note Ser A-9                                        9.260        12-15-10        BB+              480         511,356
IPALCO Enterprises, Inc.,
Sr Sec Note                                                 8.625        11-14-11        BB-              325         365,625
Kansas Gas & Electric Co.,
Bond (S)                                                    5.647        03-29-21        BB-              310         314,631
Midland Funding Corp. II,
Deb Ser B                                                  13.250        07-23-06        BB-            2,225       2,355,554
Monterrey Power S.A. de C.V.,
Sr Sec Bond (Mexico) (S)                                    9.625        11-15-09        BBB              514         595,328
PNPP II Funding Corp.,
Deb                                                         9.120        05-30-16        BB+              491         589,372
PPL Capital Funding,
Gtd Sr Note Ser A                                           4.330        03-01-09        BBB-             500         496,131
System Energy Resources, Inc.,
Sec Bond (S)                                                5.129        01-15-14        BBB              449         447,632
TNP Enterprises, Inc.,
Sr Sub Note Ser B (G)                                      10.250        04-01-10        B                365         384,345
TransAlta Corp.,
Note (Canada)                                               5.750        12-15-13        BBB-           2,000       2,103,044
TXU Corp.,
Note (S)                                                    6.500        11-15-24        BBB-           1,020         999,133
Sec Bond                                                    7.460        01-01-15        BBB              638         694,440
Waterford 3 Funding Corp.,
Sec Lease Obligation Bond                                   8.090        01-02-17        BBB-           1,150       1,280,001

Electrical Components & Equipment 1.62%                                                                             2,871,483
AMETEK, Inc.,
Sr Note                                                     7.200        07-15-08        BBB            1,500       1,607,958
Jabil Circuit, Inc.,
Sr Note                                                     5.875        07-15-10        BB+            1,220       1,263,525

Food Retail 1.89%                                                                                                   3,341,989
Ahold Lease USA, Inc.,
Gtd Pass Thru Ctf Ser 2001A-1                               7.820        01-02-20        BB             1,360       1,469,271
Delhaize America, Inc.,
Gtd Note                                                    9.000        04-15-31        BB+            1,500       1,872,718

Foreign Government 1.64%                                                                                            2,902,665
Colombia, Republic of,
Note (Colombia)                                            10.000        01-23-12        BB               750         873,750
Mexican States, United,
Global Med Term Note Ser A (Mexico)                         6.375        01-16-13        BBB            1,890       2,028,915

See notes to
financial statements.


9
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>            <C>        <C>
Gas Utilities 0.60%                                                                                                $1,054,927
Energy Transfer Partners,
Gtd Sr Note (G)(S)                                          5.950%       02-01-15        BBB-            $500         504,323
NorAm Energy Corp.,
Deb                                                         6.500        02-01-08        BBB              525         550,604

Health Care Facilities 0.84%                                                                                        1,477,686
HCA, Inc.,
Note                                                        8.750        09-01-10        BB+              900       1,022,859
Manor Care, Inc.,
Gtd Note                                                    6.250        05-01-13        BBB              425         454,827

Health Care Services 0.88%                                                                                          1,552,078
Wellpoint, Inc.,
Jr Note                                                     5.000        12-15-14        BBB+           1,520       1,552,078

Hotels, Resorts & Cruise Lines 1.61%                                                                                2,850,819
Hyatt Equities LLC,
Note (S)                                                    6.875        06-15-07        BBB            1,060       1,093,794
Meditrust,
Note                                                        7.000        08-15-07        BB-            1,710       1,757,025

Hypermarkets & Super Centers 0.17%                                                                                    293,480
Controladora Comercial Mexicana S.A. de C.V,
Sr Note (Mexico) (S)                                        6.625        06-01-15        BBB-             290         293,480

Industrial Conglomerates 0.35%                                                                                        611,786
Vedanta Resources Plc,
Sr Note (United Kingdom) (S)                                6.625        02-22-10        BB+              620         611,786

Industrial Machinery 1.65%                                                                                          2,920,644
Kennametal, Inc.,
Sr Note                                                     7.200        06-15-12        BBB            1,405       1,571,783
Manitowoc Co., Inc., (The)
Sr Note                                                     7.125        11-01-13        B+               500         522,500
Trinity Industries Leasing Co.,
Pass Thru Ctf (S)                                           7.755        02-15-09        Ba1              781         826,361

Insurance Brokers 1.10%                                                                                             1,942,278
Marsh & McLennan Cos., Inc.,
Sr Note (L)                                                 5.375        03-15-07        BBB            1,530       1,549,973
Willis Group North America,
Gtd Note                                                    5.625        07-15-15        BBB-             195         196,254
Gtd Note                                                    5.125        07-15-10        BBB-             195         196,051

Integrated Oil & Gas 1.53%                                                                                          2,710,917
Pemex Project Funding Master Trust,
Gtd Note                                                    9.125        10-13-10        BBB            1,115       1,305,665
Petro-Canada,
Deb (Canada)                                                9.250        10-15-21        BBB            1,000       1,405,252

See notes to
financial statements.


10
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>            <C>        <C>
Integrated Telecommunication Services 5.44%                                                                        $9,626,052
AT&T Corp.,
Med Term Note                                               8.350%       05-15-25        BB+             $500         516,250
Sr Note (P)                                                 9.750        11-15-31        BB+              510         663,637
Bellsouth Corp.,
Deb                                                         6.300        12-15-15        A              1,118       1,195,165
France Telecom S.A.,
Note (France)                                               8.500        03-01-11        A-               910       1,056,031
Qwest Capital Funding, Inc.,
Gtd Note (L)                                                7.000        08-03-09        B              1,000         977,500
SBC Communications, Inc.,
Note                                                        5.100        09-15-14        A                870         889,542
Sprint Capital Corp.,
Gtd Sr Bond                                                 7.625        01-30-11        BBB-           1,000       1,142,079
Note                                                        6.875        11-15-28        BBB-             820         941,263
Telecom Italia Capital,
Gtd Note (Luxembourg) (S)                                   4.950        09-30-14        BBB+           1,500       1,485,218
Telefonos de Mexico S.A. de C.V.,
Note (Mexico) (S)                                           5.500        01-27-15        BBB              765         759,367

Investment Banking & Brokerage 0.71%                                                                                1,260,416
Merrill Lynch & Co.,
Med Term Note Ser C                                         5.000        01-15-15        A+               430         440,291
Mizuho Financial Group Cayman Ltd.,
Gtd Note (Cayman Islands)                                   8.375        12-29-49        A2               750         820,125

IT Consulting & Other Services 0.24%                                                                                  421,930
NCR Corp.,
Note                                                        7.125        06-15-09        BBB-             390         421,930

Metal & Glass Containers 0.31%                                                                                        543,125
Owens-Brockway Glass Container, Inc.,
Gtd Sr Note                                                 8.250        05-15-13        B                500         543,125

Multi-Line Insurance 1.02%                                                                                          1,802,935
Assurant, Inc.,
Sr Note                                                     6.750        02-15-34        BBB+             510         582,710
Massachusetts Mutual Life Insurance Co.,
Surplus Note (S)                                            7.625        11-15-23        AA               485         622,317
MetLife, Inc.,
Note                                                        5.700        06-15-35        A                580         597,908

Multi-Media 1.17%                                                                                                   2,071,747
News America Holdings, Inc.,
Gtd Sr Deb                                                  8.250        08-10-18        BBB-             540         664,038
Time Warner, Inc.,
Deb                                                         9.125        01-15-13        BBB+           1,114       1,407,709

See notes to
financial statements.


11
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>            <C>        <C>
Multi-Utilities & Unregulated Power 1.51%                                                                          $2,669,752
CalEnergy Co., Inc.,
Sr Bond                                                     8.480%       09-15-28        BBB-            $550         739,268
Salton Sea Funding Corp.,
Sr Sec Note Ser C                                           7.840        05-30-10        BB+            1,825       1,930,484

Office Services & Supplies 1.51%                                                                                    2,670,921
Office Depot, Inc.,
Sr Note                                                     6.250        08-15-13        BBB-           1,560       1,635,602
Steelcase, Inc.,
Sr Note                                                     6.375        11-15-06        BBB-           1,020       1,035,319

Oil & Gas Drilling 0.75%                                                                                            1,329,653
Alberta Energy Co., Ltd.,
Note (Canada)                                               8.125        09-15-30        A-               725         982,846
Delek & Avner-Yam Tethys,
Sr Sec Note (Israel) (S)                                    5.326        08-01-13        BBB-             348         346,807

Oil & Gas Exploration & Production 0.79%                                                                            1,401,093
Occidental Petroleum Corp.,
Sr Deb                                                     10.125        09-15-09        BBB+           1,160       1,401,093

Oil & Gas Refining & Marketing & Trucking 0.58%                                                                     1,029,051
Enterprise Products Operations, L.P.,
Gtd Sr Note Ser B                                           5.600        10-15-14        BB+            1,000       1,029,051

Paper Packaging 0.74%                                                                                               1,311,388
Stone Container Corp.,
Sr Note                                                     9.750        02-01-11        B                285         301,388
Sr Note                                                     8.375        07-01-12        B              1,000       1,010,000

Paper Products 1.14%                                                                                                2,015,625
Abitibi-Consolidated Co.,
Gtd Sr Note (Canada)                                        6.950        12-15-06        BB-            1,250       1,265,625
MDP Acquisitions Plc,
Sr Note (Ireland)                                           9.625        10-01-12        B-               750         750,000

Pharmaceuticals 1.88%                                                                                               3,323,507
Medco Health Solutions, Inc.,
Sr Note                                                     7.250        08-15-13        BBB            1,550       1,744,830
Wyeth,
Note                                                        5.500        03-15-13        A              1,500       1,578,677

Property & Casualty Insurance 0.93%                                                                                 1,641,184
Markel Corp.,
Sr Note                                                     7.350        08-15-34        BBB-             535         600,208
Ohio Casualty Corp.,
Note                                                        7.300        06-15-14        BB               750         824,848
URC Holdings Corp.,
Sr Note (S)                                                 7.875        06-30-06        AA-              210         216,128

See notes to
financial statements.


12
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>            <C>        <C>
Real Estate Investment Trusts 1.34%                                                                                $2,368,918
Healthcare Realty Trust, Inc.,
Sr Note                                                     8.125%       05-01-11        BBB-            $175         200,367
iStar Financial, Inc.,
Sr Note                                                     7.000        03-15-08        BBB-             820         870,039
ProLogis Trust,
Sr Note                                                     7.050        07-15-06        BBB+             510         522,543
Simon Property Group, L.P.,
Note (S)                                                    5.100        06-15-15        BBB+             525         524,719
Ventas Realty, L.P./Capital Corp.,
Sr Note                                                     6.625        10-15-14        BB               250         251,250

Real Estate Management & Development 0.82%                                                                          1,443,170
Post Apartment Homes,
Sr Note                                                     5.125        10-12-11        BBB              870         892,076
Socgen Real Estate Co., LLC,

Perpetual Bond Ser A (7.640% to
09-30-07 then variable) (S)                                 7.640        12-29-49        A                515         551,094

Regional Banks 2.58%                                                                                                4,571,561
Colonial Capital II,
Gtd Cap Security Ser A                                      8.920        01-15-27        BB             1,085       1,190,353
Crestar Capital Trust I,
Gtd Cap Security                                            8.160        12-15-26        A-               910         989,220
First Chicago NDB Institutional Capital,
Gtd Cap Bond Ser A (S)                                      7.950        12-01-26        A1               500         540,251
Greater Bay Bancorp,
Sr Note (S)                                                 5.125        04-15-10        BBB-             565         572,293
NB Capital Trust IV,
Gtd Cap Security                                            8.250        04-15-27        A              1,170       1,279,444

Soft Drinks 0.62%                                                                                                   1,088,750
Panamerican Beverages, Inc.,
Sr Note (Panama)                                            7.250        07-01-09        BBB            1,000       1,088,750

Specialized Finance 1.32%                                                                                           2,343,299
Astoria Depositor Corp.,
Pass Thru Ctf Ser B (G)(S)                                  8.144        05-01-21        BB               750         740,625
Bosphorous Financial Services,
Sr Sec Floating Rate Note (P)(S)                            5.068        02-15-12        Baa3             500         499,863
ESI Tractebel Acquistion Corp.,
Gtd Sec Bond Ser B                                          7.990        12-30-11        BB               858         912,147
Humpuss Funding Corp.,
Gtd Note (S)                                                7.720        12-15-09        B2               197         190,664

See notes to
financial statements.


13
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>            <C>        <C>
Telecommunication Services 0.92%                                                                                   $1,631,455
Telus Corp.,
Note (Canada)                                               8.000%       06-01-11        BBB           $1,395       1,631,455

Telecommunications Equipment 1.12%                                                                                  1,976,957
Corning, Inc.,
Med Term Note                                               8.300        04-04-25        Ba2            1,150       1,200,988
Note                                                        6.050        06-15-15        BBB-             775         775,969

Thrifts & Mortgage Finance 9.97%                                                                                   17,627,277
Bear Stearns Alt-A Trust,
Collateralized Mtg Obligation
Ser 2005-3 Class B2                                         5.424        04-25-35        AA+              460         468,373
Bear Stearns Commericial Mortgage
Securities, Inc.,
Commercial Sub Bond Ser 2004-ESA
Class C (S)                                                 4.937        05-14-16        AA             1,000       1,019,070
Centex Home Equity Loan Trust,
Home Equity Ln Asset Backed Ctf
Ser 2004-A Class AF-4                                       4.510        08-25-32        AAA            2,000       2,001,456
Chaseflex Trust,
Pass Thru Ctf Ser 2005-2 Class 4A1                          5.000        05-25-20        AAA            1,283       1,293,234
ContiMortgage Home Equity Loan Trust,
Pass Thru Ctf Ser 1995-2 Class A-5                          8.100        08-15-25        AAA              181         190,936
Countrywide Alternative Loan Trust,
Mtg Asset Backed Pass Thru Ctf
Ser 2004-24CB Class 1A1                                     6.000        11-25-34        AAA            1,174       1,195,520
Mtg Asset Backed Pass Thru Ctf
Ser 2005-J1 Class 3A1                                       6.500        08-25-32        AAA              694         708,782
Countrywide Home Loans Servicing, L.P.,
Mtg Asset Backed Pass Thru Ctf
Ser 2005-6 Class 2A1                                        5.500        04-25-35        Aaa              784         793,607
Credit-Based Asset Servicing and
Securitization LLC,
Mtg Asset Backed Pass Thru Ctf
Ser 2004-CB4 Class A3                                       4.632        05-25-35        AAA            1,000       1,003,088
DLJ Mortgage Acceptance Corp.,
Commercial Mortgage Pass Thru Ctf
Ser 1996-CF1 Class B1 (S)                                   8.356        03-13-28        AAA            1,535       1,567,696
First Horizon Alternative Mortgage Securities,
Mtg Pass Thru Ctf Ser 2004-AA5 Class B1                     5.262        12-25-34        AA               320         322,473
Global Signal Trust,
Sub Bond Ser 2004-1A Class D (S)                            5.098        01-15-34        BBB            2,000       1,975,048
Sub Bond Ser 2004-2A Class D (S)                            5.093        12-15-14        Baa2             405         401,734
GSR Mortgage Loan Trust,
Mtg Pass Thru Ctf Ser 2004-9 Class B1 (G)                   4.429        08-25-34        AA               721         719,239

See notes to
financial statements.


14
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>              <C>        <C>
Thrifts & Mortgage Finance (continued)
Indymac Index Mortgage Loan Trust,
Asset Backed Ctf Ser 2004-AR13 Class B1                     5.296%       01-25-35        AA              $484        $489,248
Asset Backed Ctf Ser 2005-AR5 Class B1                      5.463        05-25-35        AA               524         538,636
Provident Funding Mortgage Loan Trust,
Mtg Pass Thru Ctf Ser 2005-1 Class B1                       4.384        05-25-35        AAA              325         321,203
Washington Mutual, Inc.,
Mtg Ln Pass Thru Ctf (N)                                    6.500        08-29-35        AA             1,090       1,123,552
Mtg Ln Pass Thru Ctf Ser 2005-AR4
Class B1                                                    4.684        04-25-35        AA             1,515       1,494,382

Utilities Other 0.31%                                                                                                 546,145
Magellan Midstream Partners, L.P.,
Note                                                        6.450        06-01-14        BBB              500         546,145

Wireless Telecommunication Services 2.67%                                                                           4,713,668
America Movil S.A. de C.V.,
Sr Note (Mexico)                                            5.750        01-15-15        BBB            1,275       1,294,588
AT&T Wireless Services , Inc.,
Sr Note                                                     8.125        05-01-12        A              1,525       1,827,174
Crown Castle Towers LLC,
Sub Bond Ser 2005-1A Class D                                5.612        06-15-35        Baa2             620         622,906
Mobile Telesystems Finance S.A.,
Gtd Sr Note (Luxembourg) (S)                                9.750        01-30-08        BB-              400         429,000
Nextel Communications, Inc.,
Sr Note                                                     7.375        08-01-15        BB               500         540,000

<CAPTION>
                                                                                         Credit
Issuer, description                                                                      rating (A)    Shares           Value
<S>                                                                                    <C>            <C>        <C>
Preferred stocks 7.74%                                                                                            $13,683,319
(Cost $13,717,794)

Agricultural Products 0.62%                                                                                         1,103,125
Ocean Spray Cranberries, Inc., 6.25%, Ser A (S)                                          BB+           12,500       1,103,125

Broadcasting & Cable TV 0.57%                                                                                       1,013,200
Viacom, Inc., 7.25%                                                                      A-            40,000       1,013,200

Consumer Finance 0.31%                                                                                                542,678
HSBC Finance Corp., 6.36%, Depositary Shares Ser B                                       BBB+          21,680         542,678

Diversified Banks 2.82%                                                                                             4,983,016
Abbey National Plc, 7.375% (United Kingdom)                                              A-            41,300       1,087,016
Bank One Capital Trust VI, 7.20%                                                         A-            55,000       1,434,400
Fleet Capital Trust VII, 7.20%                                                           A             55,000       1,416,800
USB Capital IV, 7.35%                                                                    A-            40,000       1,044,800

See notes to
financial statements.


15
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>
                                                                                         Credit
Issuer, description                                                                      rating (A)    Shares           Value
<S>                                                                                     <C>           <C>         <C>
Diversified Financial Services 1.15%                                                                               $2,031,600
ABN AMRO Capital Funding Trust VII, 6.08%                                                A             40,000         994,000
Citigroup Capital VII, 7.125%                                                            A             40,000       1,037,600

Electric Utilities 0.29%                                                                                              504,200
DTE Energy Co., 8.75%, Conv                                                              BBB-          20,000         504,200

Integrated Telecommunication Services 0.58%                                                                         1,030,000
Telephone & Data Systems, Inc., 7.60%, Ser A                                             A-            40,000       1,030,000

Multi-Utilities & Unregulated Power 0.61%                                                                           1,084,000
PSEG Funding Trust II, 8.75%                                                             BB+           40,000       1,084,000

Real Estate Investment Trusts 0.79%                                                                                 1,391,500
Apartment Investment & Management Co., 8.00%, Ser T                                      B+            55,000       1,391,500

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>          <C>        <C>

U.S. government and agencies securities 60.60%                                                                   $107,175,423
(Cost $104,897,968)

Government U.S. 13.45%                                                                                             23,780,307
United States Treasury,
Bond (L)                                                    9.125%       05-15-18        AAA             $495         740,509
Bond (L)                                                    8.875        08-15-17        AAA            1,215       1,765,879
Bond (L)                                                    6.250        02-15-07        AAA            2,350       2,448,040
Bond (L)                                                    5.375        02-15-31        AAA            3,050       3,599,000
Note (L)                                                    5.250        11-15-28        AAA              515         588,206
Note (L)                                                    4.125        05-15-15        AAA              165         167,410
Note (L)                                                    4.000        02-15-15        AAA           14,420      14,471,263

Government U.S. Agency 47.15%                                                                                      83,395,116
Federal Home Loan Bank,
Bond                                                        4.600        04-11-08        AAA            2,530       2,544,368
Bond                                                        4.500        04-11-08        AAA            3,000       3,008,175
Bond                                                        4.430        04-07-08        AAA            2,550       2,559,912
Federal Home Loan Mortgage Corp.,
15 Yr Pass Thru Ctf                                         4.500        04-01-18        AAA              771         767,687
15 Yr Pass Thru Ctf                                         4.500        05-01-19        AAA            1,816       1,809,524
20 Yr Pass Thru Ctf                                        11.250        01-01-16        AAA               35          37,300
30 Yr Pass Thru Ctf                                         6.000        08-01-34        AAA           15,250      15,648,446
30 Yr Pass Thru Ctf                                         5.500        04-01-33        AAA            2,173       2,205,455
CMO REMIC 2901-UB                                           5.000        03-15-33        AAA            4,345       4,411,495
CMO REMIC 2978-CL                                           5.500        01-15-31        AAA            2,695       2,754,233
CMO REMIC 2978-JD                                           5.500        08-15-31        AAA            2,640       2,702,515
Med Term Note                                               4.300        09-24-08        AAA            2,000       2,008,178
Federal National Mortgage Assn.,
15 Yr Pass Thru Ctf                                         7.500        02-01-08        AAA                1           1,073
15 Yr Pass Thru Ctf                                         7.000        09-01-10        AAA               42          44,325
15 Yr Pass Thru Ctf                                         7.000        09-01-12        AAA                7           7,442

See notes to
financial statements.


16
<PAGE>


FINANCIAL STATEMENTS

<CAPTION>

                                                         Interest        Maturity        Credit     Par value
Issuer, description                                          rate        date            rating (A)     (000)           Value
<S>                                                        <C>           <C>            <C>              <C>       <C>
Government U.S. Agency (continued)
Federal National Mortgage Assn., (continued)
15 Yr Pass Thru Ctf                                         7.000%       04-01-17        AAA              $64         $66,587
15 Yr Pass Thru Ctf                                         5.000        10-01-19        AAA            1,006       1,017,741
30 Yr Pass Thru Ctf (M)                                     5.500        07-01-33        AAA            2,640       2,675,476
Federal National Mortgage Assn.,
30 Yr Pass Thru Ctf (M)                                     5.000        08-01-33        AAA            9,480       9,459,258
30 Yr Pass Thru Ctf                                         6.000        01-01-34        AAA            3,809       3,906,802
30 Yr Pass Thru Ctf                                         6.000        05-01-35        AAA            5,106       5,236,366
30 Yr Pass Thru Ctf                                         5.500        05-01-34        AAA            1,150       1,166,804
30 Yr Pass Thru Ctf                                         5.500        11-01-34        AAA            2,685       2,723,302
CMO REMIC 2003-17-QT                                        5.000        08-25-27        AAA            1,675       1,683,731
Note                                                        6.000        05-20-25        AAA            1,720       1,727,102
Note (L)                                                    5.000        04-19-10        AAA            2,530       2,553,309
Note                                                        4.500        04-01-08        AAA            2,465       2,465,000
Note (L)                                                    4.450        04-11-08        AAA            2,550       2,554,858
Note (L)                                                    4.300        05-05-08        AAA            2,670       2,678,694
Financing Corp.,
Bond                                                        9.400        02-08-18        Aaa            2,000       2,941,928
Government National Mortgage Assn.,
30 Yr Pass Thru Ctf                                        10.000        11-15-20        AAA                7           7,832
30 Yr Pass Thru Ctf                                         9.500        11-15-19        AAA                0             496
30 Yr Pass Thru Ctf                                         9.500        01-15-21        AAA                5           5,062
30 Yr Pass Thru Ctf                                         9.500        02-15-25        AAA               13          14,640

<CAPTION>

                                                                   Interest              Credit     Par value
Issuer, description, maturity date                                     rate              rating (A)     (000)          Value
<S>                                                                 <C>                 <C>            <C>       <C>
Short-term investments 2.28%                                                                                      $4,035,000
(Cost $4,035,000)

Government U.S. Agency 2.20%                                                                                       3,900,000
Federal Home Loan Bank,
Disc Note 07-01-05                                                     Zero              AAA           $3,900      3,900,000

Joint Repurchase Agreement 0.08%                                                                                     135,000
Investment in a joint repurchase agreement transaction
with Morgan Stanley -- Dated 06-30-05 due
07-01-05 (secured by U.S. Treasury Inflation

Indexed Note 1.875% due 07-15-13)                                     2.900%                              135        135,000

Total investments 155.30%                                                                                       $274,658,359

Other assets and liabilities, net (4.98%)                                                                        ($8,807,247)

Fund preferred shares, at value (50.32%)                                                                        ($89,000,000)

Total net assets 100.00%                                                                                        $176,851,112

</TABLE>

See notes to
financial statements.


17
<PAGE>



FINANCIAL STATEMENTS

Notes to Schedule of Investments

(A) Credit ratings are rated by Moody's Investors Service where Standard &
    Poor's ratings are not available unless indicated otherwise.

(B) This security is fair valued in good faith under procedures established
    by the Board of Trustees.

(G) Security rated internally by John Hancock Advisers, LLC.

(H) Non-income-producing issuer filed for protection under the Federal
    Bankruptcy Code or is in default of interest payment.

(L) All or a portion of this security is on loan as of June 30, 2005.

(M) These securities having an aggregate value of $12,134,734, or 6.86% of
    the Fund's net assets, have been purchased as forward commitments--that
    is, the Fund has agreed on trade date to take delivery of and to make
    payment for these securities on a delayed basis subsequent to the date of
    this schedule. The purchase price and interest rate of these securities
    are fixed at trade date, although the Fund does not earn any interest on
    these until settlement date. The Fund has segregated assets with a current
    value at least equal to the amount of the forward commitments.
    Accordingly, the market value of $12,376,215 of Federal Home Loan Mortgage
    Corp., 6.000%, 08-01-34, Federal Home Loan Mortgage Corp., 5.000%,
    03-15-33, and Federal National Mortgage Assn., 6.000%, 05-01-35 has been
    segregated to cover the forward commitments.

(N) This security having an aggregate value of $1,123,552 or 0.64% of the
    Fund's net assets, has been purchased on a when issued basis. The purchase
    price and the interest rate of such securities are fixed at trade date,
    although the Fund does not earn any interest on such securities until
    settlement date. The Fund has instructed its custodian bank to segregate
    assets with a current value at least equal to the amount of its when
    issued commitments. Accordingly, the market value of $1,149,140 of Federal
    Home Loan Mortgage Corp., 6.000%, 08-01-34 has been segregated to cover
    the when issued commitments.

(O) Cash interest will be paid on this obligation at the stated rate
    beginning on the stated date.

(P) Represents rate in effect on June 30, 2005.

(S) These securities are exempt from registration under Rule 144A of the
    Securities Act of 1933. Such securities may be resold, normally to
    qualified institutional buyers, in transactions exempt from registration.
    Rule 144A securities amounted to $31,324,578 or 17.71% of the Fund's net
    assets as of June 30, 2005.

    Parenthetical disclosure of a foreign country in the security description
    represents country of a foreign issuer; however, security is U.S.
    dollar-denominated.

    The percentage shown for each investment category is the total value of
    that category as a percentage of the net assets of the Fund.

See notes to
financial statements.


18
<PAGE>


FINANCIAL STATEMENTS

ASSETS AND
LIABILITIES

June 30, 2005
(unaudited)

This Statement
of Assets and
Liabilities is the
Fund's balance
sheet. It shows
the value of
what the Fund
owns, is due
and owes. You'll
also find the net
asset value for each
common share.

Assets
Investments, at value (cost $269,214,039)
including $31,942,801 of securities loaned                       $274,658,359
Cash                                                                      175
Cash segregated for futures contacts                                  402,750
Receivable for investments sold                                    11,536,671
Receivable for shares sold                                            273,551
Dividends and interest receivable                                   3,320,622
Other assets                                                           15,855

Total assets                                                      290,207,983

Liabilities
Payable for investments purchased                                  23,806,572
Payable for futures variation margin                                  109,075
Payable to affiliates
Management fees                                                       348,161
Other                                                                   5,117
Other payable and accrued expenses                                     83,798

Total liabilities                                                  24,352,723

Auction Preferred Shares (APS) Series A, including
accrued dividends, unlimited number of shares
of beneficial interest authorized with no par value,
1,780 shares issued, liquidation preference of
$25,000 per share                                                  44,502,074
APS Series B, including accrued dividends, unlimited
number of shares of beneficial interest authorized
with no par value, 1,780 shares issued, liquidation
preference of $25,000 per share                                    44,502,074

Net assets
Common shares capital paid-in                                     176,833,010
Accumulated net realized loss on investments
and financial futures contracts                                    (3,872,868)
Net unrealized appreciation of investments
and financial futures contracts                                     4,337,050
Distributions in excess of net investment income                     (446,080)

Net assets applicable to common shares                           $176,851,112

Net asset value per common share
Based on 11,179,708 common shares outstanding --
30 million shares authorized with no par value                         $15.82

See notes to
financial statements.


19
<PAGE>


FINANCIAL STATEMENTS

OPERATIONS

For the period ended
June 30, 2005
(unaudited) 1

This Statement
of Operations
summarizes the
Fund's investment
income earned and
expenses incurred
in operating the
Fund. It also shows
net gains (losses)
for the period
stated.

Investment income
Interest                                                           $7,158,301
Dividends                                                             534,032
Securities lending                                                     57,447

Total investment income                                             7,749,780

Expenses
Investment management fees                                            672,378
APS auction fees                                                      111,415
Transfer agent fees                                                    53,877
Custodian fees                                                         38,701
Printing fees                                                          31,267
Accounting and legal services fees                                     27,522
Professional fees                                                      22,920
Miscellaneous                                                          19,499
Registration and filing fees                                           11,648
Trustees' fees                                                          3,542
Security lending fees                                                   2,923
Interest                                                                  474

Total expenses                                                        996,166

Net investment income                                               6,753,614

Realized and unrealized loss

Net realized loss on
Investments                                                          (239,124)
Financial futures contracts                                        (1,179,054)

Change in net unrealized appreciation (depreciation) of
Investments                                                        (1,336,557)
Financial futures contracts                                          (839,830)

Net realized and unrealized loss                                   (3,594,565)

Distributions to APS Series A                                        (623,825)
Distributions to APS Series B                                        (618,637)

Increase in net assets from operations                             $1,916,587

1 Semiannual period from 1-1-05 through 6-30-05.

See notes to
financial statements.


20
<PAGE>


FINANCIAL STATEMENTS

CHANGES IN
NET ASSETS


These Statements
of Changes in Net
Assets show how
the value of the
Fund's net assets
has changed
during the last
two  periods. The
difference reflects
earnings less
expenses, any
investment
gains and losses,
distributions, if
any, paid to
shareholders and
the net of Fund
share transactions.
                                                         Year         Period
                                                        ended          ended
                                                     12-31-04        6-30-05 1
Increase (decrease) in net assets

From operations
Net investment income                             $13,479,487     $6,753,614
Net realized loss                                  (1,090,604)    (1,418,178)
Change in net unrealized
appreciation (depreciation)                        (1,578,388)    (2,176,387)
Distributions to APS Series A and B                (1,337,920)    (1,242,462)

Increase in net assets
resulting from operations                           9,472,575      1,916,587

Distributions to common shareholders
From net investment income                        (13,140,127)    (6,021,584)

From Fund share transactions                        1,322,600        570,859

Net assets
Beginning of period                               182,730,202    180,385,250

End of period 2                                  $180,385,250   $176,851,112

1 Semiannual period from 1-1-05 through 6-30-05. Unaudited.

2 Includes accumulated (distributions in excess of) net investment income
  of $64,352 and ($446,080), respectively.

See notes to
financial statements.


21
<PAGE>


FINANCIAL HIGHLIGHTS

FINANCIAL
HIGHLIGHTS

COMMON SHARES

<TABLE>
<CAPTION>

The Financial Highlights show how the Fund's net asset value for a share
has changed since the end of the previous period.

Period ended                                 12-31-00 1    12-31-01 1,2    12-31-02 1    12-31-03    12-31-04    6-30-05 3
<S>                                         <C>           <C>             <C>           <C>         <C>         <C>
Per share operating performance
Net asset value,
beginning of period                            $15.37        $15.89          $16.06        $16.31      $16.53     $16.19
Net investment income 4                          1.07          1.00            0.89          0.93        1.22       0.61
Net realized and unrealized
gain (loss) on investments                       0.52          0.19            0.28          0.63       (0.25)     (0.33)
Distributions to APS Series A and B 5              --            --              --         (0.02)      (0.12)     (0.11)
Total from
investment operations                            1.59          1.19            1.17          1.54        0.85       0.17
Less distributions to
common shareholders
From net investment income                      (1.07)        (1.02)          (0.92)        (0.96)      (1.19)     (0.54)
From net realized gains                            --            --              --         (0.26)         --         --
                                                (1.07)        (1.02)          (0.92)        (1.22)      (1.19)     (0.54)
Capital charges
Offering costs and underwriting
discount related to APS                            --            --              --         (0.10)         --         --
Net asset value, end of period                 $15.89        $16.06          $16.31        $16.53      $16.19     $15.82
Per share market value,
end of period                                  $14.44        $14.65          $14.66        $15.39      $15.68     $15.12
Total return at market value 6 (%)              23.06          8.69            6.42         13.49        9.95      (0.03) 7

Ratios and supplemental data
Net assets applicable to common
shares, end of period (in millions)              $172          $175            $179          $183        $180       $177
Ratio of expenses to
average net assets (%)                           0.84          0.80            0.84          0.87 8      1.14 8     1.13 8,9
Ratio of net investment income to
average net assets (%)                           6.89          6.17            5.56          5.58 10     7.44 10    7.63 9,10
Portfolio turnover (%)                            248           299             371           273         135         62

Senior securities
Total APS Series A outstanding
(in millions)                                      --            --              --           $45         $45        $45
Total APS Series B outstanding
(in millions)                                      --            --              --           $45         $45        $45
Involuntary liquidation preference
APS Series A per unit (in thousands)               --            --              --           $25         $25        $25
Involuntary liquidation preference
APS Series B per unit (in thousands)               --            --              --           $25         $25        $25
Average market value
per unit (in thousands)                            --            --              --           $25         $25        $25
Asset coverage per unit 11                         --            --              --       $75,402     $75,049    $74,365
</TABLE>

See notes to
financial statements.


22
<PAGE>


Notes to Financial Highlights

 1 Audited by previous auditor.

 2 As required, effective January 1, 2001, the Fund has adopted the
   provisions of the AICPA Audit and Accounting Guide for Investment
   Companies, as revised, relating to the amortization of premiums and
   accretion of discounts on debt securities. The effect of this change on
   per share amounts for the year ended December 31, 2001, was to decrease
   net investment income per share by $0.02, increase net realized and
   unrealized gain per share by $0.02 and, had the Fund not made these
   changes to amortization and accretion, the ratio of net investment income
   to average net assets would have been 6.30%. Per share ratios and
   supplemental data for periods prior to January 1, 2001, have not been
   restated to reflect this change in presentation.

 3 Semiannual period from 1-1-05 through 6-30-05. Unaudited.

 4 Based on the average of the shares outstanding.

 5 APS Series A and B were issued on 11-4-03.

 6 Assumes dividend reinvestment.

 7 Not annualized.

 8 Ratios calculated on the basis of expenses relative to the average net
   assets of common shares. Without the exclusion of preferred shares, the
   annualized ratios of expenses would have been 0.81%, 0.76% and 0.75% for
   the periods ended 12-31-03, 12-31-04 and 6-30-05, respectively.

 9 Annualized.

10 Ratios calculated on the basis of net investment income relative to the
   average net assets of common shares. Without the exclusion of preferred
   shares, the annualized ratios of net investment income would have been
   5.19%, 4.99% and 5.09% for the periods ended 12-31-03, 12-31-04 and
   6-30-05, respectively.

11 Calculated by subtracting the Fund's total liabilities from the Fund's
   total assets and dividing that amount by the number of APS outstanding, as
   of the applicable 1940 Act Evaluation Date, which may differ from the
   financial reporting date.

See notes to
financial statements.


23
<PAGE>


NOTES TO
STATEMENTS

Unaudited

Note A
Accounting policies

John Hancock Income Securities Trust (the "Fund") is a closed-end
diversified investment management company registered under the Investment
Company Act of 1940.

Significant accounting policies
of the Fund are as follows:

Valuation of investments

Securities in the Fund's portfolio are valued on the basis of market
quotations, valuations provided by independent pricing services or at fair
value as determined in good faith in accordance with procedures approved
by the Trustees. Short-term debt investments which have a remaining
maturity of 60 days or less may be valued at amortized cost, which
approximates market value. The Fund determines the net asset value of the
common shares each business day.

Joint repurchase agreement

Pursuant to an exemptive order issued by the Securities and Exchange
Commission, the Fund, along with other registered investment companies
having a management contract with John Hancock Advisers, LLC (the
"Adviser"), a wholly owned subsidiary of John Hancock Financial Services,
Inc., may participate in a joint repurchase agreement transaction.
Aggregate cash balances are invested in one or more large repurchase
agreements, whose underlying securities are obligations of the U.S.
government and/or its agencies. The Fund's custodian bank receives
delivery of the underlying securities for the joint account on the Fund's
behalf. The Adviser is responsible for ensuring that the agreement is
fully collateralized at all times.

Investment transactions

Investment transactions are recorded as of the date of purchase, sale or
maturity. Net realized gains and losses on sales of investments are
determined on the identified cost basis. Some securities may be purchased
on a "when issued" or "forward delivery" basis, which means that the
securities will be delivered to the Fund at a future date, usually beyond
the customary settlement date.

Discount and premium
on securities

The Fund accretes discount and amortizes premium from par value on
securities from either the date of issue or the date of purchase over the
life of the security.

Expenses

The majority of the expenses are directly identifiable to an individual
fund. Expenses that are not readily identifiable to a specific fund will
be allocated in such a manner as deemed equitable, taking into
consideration, among other things, the nature and type of expense and the
relative sizes of the funds.

Securities lending

The Fund may lend securities to certain qualified brokers who pay


24
<PAGE>


the Fund negotiated lender fees. The loans are collateralized at all times
with cash or securities with a market value at least equal to the market
value of the securities on loan. As with other extensions of credit, the
Fund may bear the risk of delay of the loaned securities in recovery or
even loss of rights in the collateral, should the borrower of the
securities fail financially. On June 30, 2005, the Fund loaned securities
having a market value of $31,942,801 collateralized by securities in the
amount of $32,292,636. Securities lending expenses are paid by the Fund to
the Adviser.

Financial futures contracts

The Fund may buy and sell financial futures contracts. Buying futures
tends to increase the Fund's exposure to the underlying instrument.
Selling futures tends to decrease the Fund's exposure to the underlying
instrument or hedge other Fund's instruments. At the time the Fund enters
into financial futures contracts, it is required to deposit with its
custodian a specified amount of cash or U.S. government securities, known
as "initial margin," equal to a certain percentage of the value of the
financial futures contract being traded. Each day, the futures contract is
valued at the official settlement price of the board of trade or U.S.
commodities exchange on which it trades. Subsequent payments to and from
the broker, known as "variation margin," are made on a daily basis as the
market price of the financial futures contract fluctuates. Daily variation
margin adjustments arising from this "mark to market" are recorded by the
Fund as unrealized gains or losses.

When the contracts are closed, the Fund recognizes a gain or loss. Risks
of entering into financial futures contracts include the possibility that
there may be an illiquid market and/or that a change in the value of the
contracts may not correlate with changes in the value of the underlying
securities. In addition, the Fund could be prevented from opening or
realizing the benefits of closing out financial futures positions because
of position limits or limits on daily price fluctuation imposed by an
exchange.

For federal income tax purposes, the amount, character and timing of the
Fund's gains and/or losses can be affected as a result of financial
futures contracts.

On June 30, 2005, the Fund had deposited $402,750 in a segregated account
to cover margin requirements on open financial futures contracts.

The Fund had the following financial futures contracts open on June 30, 2005:

NUMBER OF
OPEN CONTRACTS               CONTRACTS   POSITION   EXPIRATION   DEPRECIATION
- -------------------------------------------------------------------------------
U.S. 10-Year Treasury Note   505         Short      Sep 05       ($1,082,546)
U.S. 10-Year Treasury Note   32          Short      Sep 05           (24,724)

                                                                 ($1,107,270)

Federal income taxes

The Fund qualifies as a "regulated investment company" by complying with
the applicable provisions of the Internal Revenue Code and will not be
subject to federal income tax on taxable income that is distributed to
shareholders. Therefore, no federal income tax provision is required. For
federal income tax purposes, the Fund has $2,123,466 of a capital loss
carryforward available, to the extent provided by regulations, to offset
future net realized capital gains. To the extent that such carryforward is
used by the Fund, no capital gain distributions will be made. The entire
amount of the loss carryforward expires December 31, 2012.


25
<PAGE>


Dividends, interest
and distributions

Dividend income on investment securities is recorded on the ex-dividend
date or, in the case of some foreign securities, on the date thereafter
when the Fund identifies the dividend. Interest income on investment
securities is recorded on the accrual basis. The Fund may place a debt
obligation on non-accrual status and reduce related interest income by
ceasing current accruals and writing off interest receivables when the
collection of interest has become doubtful. Foreign income may be subject
to foreign withholding taxes, which are accrued as applicable.

The Fund records distributions to shareholders from net investment income
and net realized gains, if any, on the ex-dividend date. During the year
ended December 31, 2004, the tax character of distributions paid was as
follows: ordinary income $14,478,047.

Such distributions, on a tax basis, are determined in conformity with
income tax regulations, which may differ from accounting principles
generally accepted in the United States of America. Distributions in
excess of tax basis earnings and profits, if any, are reported in the
Fund's financial statements as a return of capital.

Use of estimates

The preparation of these financial statements, in accordance with
accounting principles generally accepted in the United States of America,
incorporates estimates made by management in determining the reported
amount of assets, liabilities, revenues and expenses of the Fund. Actual
results could differ from these estimates.

Note B
Management fee and
transactions with
affiliates and others

The Fund has an investment management contract with the Adviser. Under the
investment management contract, the Fund pays a quarterly management fee
to the Adviser, equivalent on an annual basis, to the sum of (a) 0.650% of
the first $150,000,000 of the Fund's average weekly net asset value and
the value attributable to the Auction Preferred Shares (collectively,
"managed assets"), (b) 0.375% of the next $50,000,000, (c) 0.350% of the
next $100,000,000 and (d) 0.300% of the Fund's average daily managed
assets in excess of $300,000,000.

The Fund has an agreement with the Adviser to perform necessary tax,
accounting and legal services for the Fund. The compensation for the
period amounted to $27,522. The Fund also paid the Adviser the amount of
$4,037 for certain compliance costs, included in the miscellaneous
expenses.

The compensation of unaffiliated Trustees is borne by the Fund. The
unaffiliated Trustees may elect to defer, for tax purposes, their receipt
of this compensation under the John Hancock Group of Funds Deferred
Compensation Plan. The Fund makes investments into other John Hancock
funds, as applicable, to cover its liability for the deferred
compensation. Investments to cover the Fund's deferred compensation
liability are recorded on the Fund's books as an other asset. The deferred
compensation liability and the related other asset are always equal and
are marked to market on a periodic basis to reflect any income earned by
the investments, as well as any unrealized gains or losses. The Deferred
Compensation Plan investments had no impact on the operations of the Fund.

The Fund is listed for trading on the New York Stock Exchange ("NYSE") and
has filed with the NYSE its chief executive officer certification
regarding compliance with the NYSE's listing standards. The Fund also
files with the Securities and Exchange Commission the certification of its
chief executive officer and chief accounting officer required by Section
302 of the Sarbanes-Oxley Act.


26
<PAGE>


Note C
Fund share transactions

This listing illustrates the number of Fund common shares distributions
reinvested, offering costs and underwriting discount charged to capital
paid-in, reclassification of capital accounts and the number of common
shares outstanding at the beginning and end of the last two periods, along
with the corresponding dollar value.

<TABLE>
<CAPTION

                                           Year ended 12-31-04        Period ended 6-30-05 1
                                         Shares         Amount       Shares         Amount
<S>                                 <C>          <C>            <C>          <C>
Beginning of period                  11,056,746   $175,501,784   11,141,310   $176,262,151
Distributions reinvested                 84,564      1,302,088       38,398        570,859
Offering costs and underwriting
discount related to Auction
Preferred Shares                             --         20,512           --             --
Reclassification of capital accounts         --       (562,233)          --             --

End of period                        11,141,310   $176,262,151   11,179,708   $176,833,010
</TABLE>

1 Semiannual period from 1-1-05 through 6-30-05. Unaudited.

Auction preferred shares

The Fund issued a total of 3,560 Auction Preferred Shares: 1,780 shares of
Series A Auction Preferred Shares and 1,780 shares of Series B Auction
Preferred Shares (collectively, the "Preferred Shares" or "APS") on
November 4, 2003, in a public offering. The total offering costs of
$188,388 and the total underwriting discount of $890,000 has been charged
to capital paid-in of common shares during the years ended December 31,
2003 and December 31, 2004.

Dividends on the APS, which accrue daily, are cumulative at a rate that
was established at the offering of the APS and has been reset every 7 days
thereafter by an auction. Dividend rates on APS Series A ranged from 2.10%
to 3.40% and Series B from 2.24% to 3.45% during the period ended June 30,
2005. Accrued dividends on APS are included in the value of APS on the
Fund's Statement of Assets and Liabilities.

The APS are redeemable at the option of the Fund, at a redemption price
equal to $25,000 per share, plus accumulated and unpaid dividends on any
dividend payment date. The APS are also subject to mandatory redemption at
a redemption price equal to $25,000 per share, plus accumulated and unpaid
dividends, if the Fund is in default on its asset coverage requirements
with respect to the APS as defined in the Fund's by-laws. If the dividends
on the APS shall remain unpaid in an amount equal to two full years'
dividends, the holders of the APS, as a class, have the right to elect a
majority of the Board of Trustees. In general, the holders of the APS and
the common shareholders have equal voting rights of one vote per share,
except that the holders of the APS, as a class, vote to elect two members
of the Board of Trustees, and separate class votes are required on certain
matters that affect the respective interests of the APS and common
shareholders.

Note D
Investment
transactions

Purchases and proceeds from sales or maturities of securities, other than
short-term securities and obligations of the U.S. government, during the
period ended June 30, 2005, aggregated $118,105,102 and $107,531,247,
respectively. Purchases and proceeds from sales or maturities of
obligations of U.S. government aggregated $50,836,745 and $54,136,215,
respectively, during the period ended June 30, 2005.

The cost of investments owned on June 30, 2005, including short-term
investments, for federal income tax purposes was $270,587,813.


27
<PAGE>


Gross unrealized appreciation and depreciation of investments aggregated
$6,905,067 and $2,834,521, respectively, resulting in net unrealized
appreciation of $4,070,546. The difference between book basis and tax
basis net unrealized appreciation of investments is attributable primarily
to the tax deferral of losses on certain sales of securities and
amortization of premiums on debt securities.


28
<PAGE>


Investment
objective
and policy

The Fund is a closed-end diversified management investment company, common
shares of which were initially offered to the public on February 14, 1973,
and are publicly traded on the New York Stock Exchange. The Fund's
investment objective is to generate a high level of current income
consistent with prudent investment risk. The Fund invests in a diversified
portfolio of freely marketable debt securities and may invest an amount
not exceeding 20% of its assets in income-producing preferred and common
stock. Under normal circumstances, the Fund will invest at least 80% of
net assets in income securities. Income securities will consist of the
following: (i) marketable corporate debt securities, (ii) governmental
obligations and (iii) cash and commercial paper. "Net assets" is defined
as net assets plus borrowings for investment purposes. The Fund will
notify shareholders at least 60 days prior to any change in this 80%
investment policy.

It is contemplated that at least 75% of the value of the Fund's total
assets will be represented by debt securities, which have at the time of
purchase a rating within the four highest grades as determined by Moody's
Investors Service, Inc., or Standard & Poor's Corporation. The Fund
intends to engage in short-term trading and may invest in repurchase
agreements. The Fund may issue a single class of senior securities not to
exceed 331/3% of its net assets at market value and may borrow from banks
as a temporary measure for emergency purposes in amounts not to exceed 5%
of the total assets at cost. The Fund may lend portfolio securities not to
exceed 331/3% of total assets.

By-laws

In November 2002, the Board of Trustees adopted several amendments to the
Fund's by-laws, including provisions relating to the calling of a special
meeting and requiring advance notice of shareholder proposals or nominees
for Trustee. The advance notice provisions in the by-laws require
shareholders to notify the Fund in writing of any proposal which they
intend to present at an annual meeting of shareholders, including any
nominations for Trustee, between 90 and 120 days prior to the first
anniversary of the mailing date of the notice from the prior year's annual
meeting of shareholders. The notification must be in the form prescribed
by the by-laws. The advance notice provisions provide the Fund and its
Trustees with the opportunity to thoughtfully consider and address the
matters proposed before the Fund prepares and mails its proxy statement to
shareholders. Other amendments set forth the procedures, which must be
followed in order for a shareholder to call a special meeting of
shareholders. Please contact the Secretary of the Fund for additional
information about the advance notice requirements or the other amendments
to the by-laws.

On August 21, 2003, shareholders approved the amendment of the Fund's
by-laws effective August 26, 2003, to provide for the issuance of
preferred shares. Effective March 9, 2004, the Trustees approved
additional changes to conform with the Fund's maximum dividend rate on the
preferred shares with the rate used by other John Hancock funds.

On September 14, 2004, the Trustees approved an amendment to the Fund's
by-laws increasing the maximum applicable dividend rate ceiling on the
preferred shares to conform with the modern calculation methodology used
by the industry and other John Hancock funds.

Financial futures
contracts and options

The Fund may buy and sell financial futures contracts and options on
futures contracts to hedge against the effects of fluctuations in interest
rates and other market conditions. The Fund's ability to hedge
successfully


29
<PAGE>


will depend on the Adviser's ability to predict accurately the future
direction of interest rate changes and other market factors. There is no
assurance that a liquid market for futures and options will always exist.
In addition, the Fund could be prevented from opening, or realizing the
benefits of closing out, a futures or options position because of position
limits or limits on daily price fluctuations imposed by an exchange.

The Fund will not engage in transactions in futures contracts and options
on futures for speculation, but only for hedging or other permissible risk
management purposes. All of the Fund's futures contracts and options on
futures will be traded on a U.S. commodity exchange or board of trade. The
Fund will not engage in a transaction in futures or options on futures if,
immediately thereafter, the sum of initial margin deposits on existing
positions and premiums paid for options on futures would exceed 5% of the
Fund's total assets.

Dividends and
distributions

The Fund pays quarterly dividends from net investment income and intends
to distribute any available net realized capital gains annually. All
distributions are paid in cash unless the shareholder elects to
participate in the Dividend Reinvestment Plan.

During the period ended June 30, 2005, the Fund paid to shareholders
dividends from net investment income totaling $0.540 per share. The dates
of payments and the amounts per share are as follows:

                          INCOME
PAYMENT DATE            DIVIDEND
- --------------------------------
March 31, 2005            $0.280
June 30, 2005              0.260

Dividend
reinvestment plan

The Fund offers its common shareholders a Dividend Reinvestment Plan (the
"Plan"), which offers the opportunity to earn compounded yields. Any
holder of common shares of record of the Fund may elect to participate in
the Plan and receive the Fund's common shares in lieu of all or a portion
of the cash dividends. The Plan is available to all common shareholders
without charge. Mellon Investor Services (the "Plan Agent") will act as
agent for participating shareholders.

Shareholders may join the Plan by notifying the Plan Agent by telephone,
in writing or by visiting the Plan Agent's Web site at
www.melloninvestor.com showing an election to reinvest all or a portion of
dividend payments. If received in proper form by the Plan Agent prior to
the record date for a dividend, the election will be effective with
respect to all dividends paid after such record date. Shareholders whose
shares are held in the name of a broker or nominee should contact the
broker or nominee to determine whether and how they may participate in the
Plan.

The Board of Trustees of the Fund will declare dividends from net
investment income payable in cash or, in the case of shareholders
participating in the Plan, partially or entirely in the Fund's common
shares. The number of shares to be issued for the benefit of each
shareholder will be determined by dividing the amount of the cash dividend
otherwise, payable to such shareholder on shares included under the Plan,
by the per share net asset value of the common shares on the date for
payment of the dividend, unless the net asset value per share on the
payment date is less than 95% of the market price per share on that date,
in which event the number of shares to be issued to a shareholder will be
determined by dividing the amount of the cash dividend payable to such
shareholder, by 95% of the market price per share of the common shares on
the payment date. The market price of the common shares on a particular
date shall be the mean between the highest and lowest sales price on the
New York Stock Exchange on that date. Net asset


30
<PAGE>


value will be determined in accordance with the established procedures of
the Fund. However, if as of such payment date the market price of the
common shares is lower than such net asset value per share, the number of
shares to be issued will be determined on the basis of such market price.
Fractional shares, carried out to four decimal places, will be credited to
the shareholder's account. Such fractional shares will be entitled to
future dividends.

The shares issued to participating shareholders, including fractional
shares, will be held by the Plan Agent in the name of the participant. A
confirmation will be sent to each shareholder promptly, normally within
five to seven days, after the payment date of the dividend. The
confirmation will show the total number of shares held by such shareholder
before and after the dividend, the amount of the most recent cash dividend
that the shareholder has elected to reinvest and the number of shares
acquired with such dividend.

Participation in the Plan may be terminated at any time by contacting the
Plan Agent by telephone, in writing or by visiting the Plan Agent's Web
site, and such termination will be effective immediately. However, notice
of termination must be received prior to the record date of any
distribution to be effective for that distribution. Upon termination,
certificates will be issued representing the number of full shares of
common shares held by the Plan Agent. A shareholder will receive a cash
payment for any fractional share held.

The reinvestment of dividends will not relieve participants of any
federal, state or local income tax, which may be due with respect to such
dividend. Dividends reinvested in common shares will be treated on your
federal income tax return as though you had received a dividend in cash in
an amount equal to the fair market value of the shares received, as
determined by the prices for common shares of the Fund on the New York
Stock Exchange as of the dividend payment date. Distributions from the
Fund's long-term capital gains will be processed as noted above for those
electing to reinvest in common shares and will be taxable to you as
long-term capital gains. The confirmation referred to above will contain
all the information you will require for determining the cost basis of
shares acquired and should be retained for that purpose. At year end, each
account will be supplied with detailed information necessary to determine
total tax liability for the calendar year.

All correspondence or additional information concerning the Plan should be
directed to the Plan Agent, Mellon Bank, N.A., c/o Mellon Investor
Services, P.O. Box 3338, South Hackensack, New Jersey 07606-1938
(Telephone: 1-800-852-0218).

Shareholder
communication
and assistance

If you have any questions concerning the Fund, we will be pleased to
assist you. If you hold shares in your own name and not with a brokerage
firm, please address all notices, correspondence, questions or other
communications regarding the Fund to the transfer agent at:

Mellon Investor Services
85 Challenger Road
Overpeck Centre
Ridgefield Park, NJ 07660
Telephone: 1-800-852-0218

If your shares are held with a brokerage firm, you should contact that
firm, bank or other nominee for assistance.


31
<PAGE>


Shareholder meeting

On March 2, 2005, the Annual Meeting of the Fund was held to elect ten
Trustees and to ratify the actions of the Trustees in selecting independent
auditors for the Fund.

Proxies covering 9,743,702 shares of beneficial interest were voted at the
meeting. The common shareholders elected the following Trustees to serve
until their respective successors are duly elected and qualified, with the
votes tabulated as follows:

                                                      WITHHELD
                                    FOR              AUTHORITY
- --------------------------------------------------------------
James F. Carlin                     9,651,626           88,516
Richard P. Chapman, Jr.             9,645,751           94,391
William Cosgrove                    9,639,538          100,604
William H. Cunningham               9,638,442          101,700
Ronald R. Dion                      9,648,175           91,967
Charles L. Ladner                   9,651,175           88,967
Steven R. Pruchansky                9,650,732           89,410
James A. Shepherdson *              9,651,651           88,491

* Mr. James A. Shepherdson resigned effective July 15, 2005.

The preferred shareholders elected Dr. John A. Moore and Patti McGill
Peterson to serve as the Fund's Trustees until their successors are duly
elected and qualified, with the votes for each Trustee tabulated as
follows: 3,548 FOR, 0 AGAINST, 12 ABSTAINING.

The common and preferred shareholders ratified the Trustees' selection of
PricewaterhouseCoopers LLP as the Fund's independent auditor for the fiscal
year ending December 31, 2005, with votes tabulated as follows: 9,639,963
FOR, 36,850 AGAINST and 66,889 ABSTAINING.


32
<PAGE>


Board Consideration
of and Continuation
of Investment
Advisory Agreement

Section 15(c) of the Investment Company Act of 1940 (the "1940 Act")
requires the Board of Trustees (the "Board") of John Hancock Income
Securities Trust (the "Fund"), including a majority of the Trustees who
have no direct or indirect interest in the investment advisory agreement
and are not "interested persons" of the Fund, as defined in the 1940 Act
(the "Independent Trustees"), annually to review and consider the
continuation of the investment advisory agreement (the "Advisory
Agreement") with John Hancock Advisers, LLC (the "Adviser") for the Fund.

At meetings held on May 19-20 and June 6-7, 2005, the Board, including
the Independent Trustees considered the factors and reached the
conclusions described below relating to the selection of the Adviser and
the continuation of the Advisory Agreement. During such meetings, the
Board's Contracts/Operations Committee and the Independent Trustees also
met in executive sessions with their independent legal counsel. In
evaluating the Advisory Agreement, the Board, including the
Contracts/Operations Committee and the Independent Trustees, reviewed a
broad range of information requested for this purpose by the Independent
Trustees, including but not limited to the following: (i) the investment
performance of the Fund and a broader universe of relevant funds (the
"Universe") selected by Lipper Inc. ("Lipper"), an independent provider of
investment company data, for a range of periods, (ii) advisory and other
fees incurred by, and the expense ratios of, the Fund and a peer group of
comparable funds selected by Lipper (the "Peer Group"), (iii) the advisory
fees of comparable portfolios of other clients of the Adviser, (iv) the
Adviser's financial results and condition, including its and certain of
its affiliates' profitability from services performed for the Fund, (v)
breakpoints in the Fund's and the Peer Group's fees and a study undertaken
at the direction of the Independent Trustees as to the allocation of the
benefits of economies of scale between the Fund and the Adviser, (vi) the
Adviser's record of compliance with applicable laws and regulations, with
the Fund's investment policies and restrictions, and with the Fund's Code
of Ethics and the structure and responsibilities of the Adviser's
compliance department, (vii) the background and experience of senior
management and investment professionals, and (viii) the nature, cost and
character of advisory and non-investment management services provided by
the Adviser and its affiliates.

Nature, Extent and Quality
of Services

The Board considered the ability of the Adviser, based on its resources,
reputation and other attributes, to attract and retain qualified
investment professionals, including research, advisory, and supervisory
personnel. The Board further considered the compliance programs and
compliance records of the Adviser. In addition, the Board took into
account the administrative services provided to the Fund by the Adviser
and its affiliates.

Based on the above factors, together with those referenced below, the
Board concluded that, within the context of its full deliberations, the
nature, extent and quality of the investment advisory services provided to
the Fund by the Adviser were sufficient to support renewal of the Advisory
Agreement.

Fund Performance

The Board considered the performance results for the Fund over various
time periods. The Board also considered these results in comparison to the
performance of the Universe, as well as the Fund's benchmark indices.
Lipper determined the Universe


33
<PAGE>


for the Fund. The Board reviewed with a represen tative of Lipper the
methodology used by Lipper to select the funds in the Universe and the
Peer Group.

The Board noted that the performance of the Fund was below the median and
average performance of its Universe for the time periods under review. The
Board also noted that the Fund consistently performed higher than one of
its benchmark indices, the Lehman Brothers Government/Corporate Bond
Index, for the time periods under review, but performed lower than its
other benchmark index, the Lipper Closed-End Investment Grade Funds Index,
during the more recent periods under review. The Adviser discussed with
the Board factors contributing to the Fund's performance results. The
Adviser noted that, in its view, the Fund's Universe was over-inclusive.
The Adviser provided additional analysis which demonstrated that the
Fund's performance was consistent with other similarly leveraged
closed-end funds. The Board indicated its intent to continue to monitor
the Fund's performance trends.

Investment Advisory Fee
Rates and Expenses

The Board reviewed and considered the contractual investment advisory fee
rate payable by the Fund to the Adviser for investment advisory services
(the "Advisory Agreement Rate"). The Board received and considered
information comparing the Advisory Agreement Rate with the advisory fees
for the Peer Group. The Board noted that the Advisory Agreement Rate was
lower than the median rate of the Peer Group, and reasonable in relation
to the services provided.

The Board received and considered information regarding the Fund's total
operating expense ratio and its various components, including contractual
advisory fees, actual advisory fees, non-management fees, transfer agent
fees and custodian fees, including and excluding investment-related
expenses. The Board also considered comparisons of these expenses to the
Peer Group and the Universe. The Board noted that the total operating
expense ratio of the Fund was slightly higher than the Peer Group's and
Universe's median total operating expense ratio due, in part, to the
Fund's transfer agency expense. The Board noted that, historically, the
Fund's total operating expense ratio has been consistently below the
Universe's median total operating expense ratio.

The Adviser also discussed the Lipper data and rankings, and other
relevant information, for the Fund. Based on the above-referenced
considerations and other factors, the Board concluded that the Fund's
overall expense results and performance supported the re-approval of the
Advisory Agreement.

Profitability

The Board received and considered a detailed profitability analysis of the
Adviser based on the Advisory Agreement, as well as on other relationships
between the Fund and the Adviser and its affiliates. The Board concluded
that, in light of the costs of providing investment management and other
services to the Fund, the profits and other ancillary benefits reported by
the Adviser were not unreasonable.

Economies of Scale

The Board received and considered general information regarding economies
of scale with respect to the management of the Fund, including the Fund's
ability to appropriately benefit from economies of scale under the Fund's
fee structure. The Board recognized the inherent limitations of any
analysis of economies of scale, stemming largely from the Board's
understanding that most of the Adviser's costs are not specific to
individual Funds, but rather are incurred across a variety of products and
services.

The Board observed that the Advisory Agreement offers breakpoints.
However, the Board considered the limited


34
<PAGE>


relevance of economies of scale in the context of a closed-end fund that,
unlike an open-end fund, does not continuously offer its shares, and
concluded that the fees were fair and equitable based on relevant factors,
including the Fund's total expenses ranking relative to its Peer Group.

Information About
Services to Other Clients

The Board also received information about the nature, extent and quality
of services and fee rates offered by the Adviser to its other clients,
including other registered investment companies, institutional investors
and separate accounts. The Board concluded that the Advisory Agreement
Rate was not unreasonable, taking into account fee rates offered to others
by the Adviser and giving effect to differences in services covered by
such fee rates.

Other Benefits to
the Adviser

The Board received information regarding potential "fall-out" or ancillary
benefits received by the Adviser and its affiliates as a result of the
Adviser's relationship with the Fund. Such benefits could include, among
others, benefits directly attributable to the relationship of the Adviser
with the Fund and benefits potentially derived from an increase in the
business of the Adviser as a result of its relationship with the Fund
(such as the ability to market to shareholders other financial products
offered by the Adviser and its affiliates).

The Board also considered the effectiveness of the Adviser's and the
Fund's policies and procedures for complying with the requirements of the
federal securities laws, including those relating to best execution of
portfolio transactions and brokerage allocation.

Other Factors and
Broader Review

As discussed above, the Board reviewed detailed materials received from
the Adviser as part of the annual re-approval process under Section 15(c)
of the 1940 Act. The Board also regularly reviews and assesses the quality
of the services that the Fund receives throughout the year. In this
regard, the Board reviews reports of the Adviser at least quarterly, which
include, among other things, a detailed portfolio review, detailed fund
performance reports and compliance reports. In addition, the Board meets
with portfolio managers and senior investment officers at various times
throughout the year.

After considering the above-described factors and based on its
deliberations and its evaluation of the information described above, the
Board concluded that approval of the continuation of the Advisory
Agreement for the Fund was in the best interest of the Fund and its
shareholders. Accordingly, the Board unanimously approved the continuation
of the Advisory Agreement.


35
<PAGE>




36
<PAGE>



For more information

The Fund's proxy voting policies, procedures and records are available
without charge, upon request:

By phone        On the Fund's Web site   On the SEC's Web site

1-800-225-5291   www.jhfunds.com/proxy   www.sec.gov


Trustees

Charles L. Ladner, Chairman*
James F. Carlin
Richard P. Chapman, Jr.*
William H. Cunningham
Ronald R. Dion
Dr. John A. Moore*
Patti McGill Peterson*
Steven R. Pruchansky

*Members of the Audit Committee

Officers

Keith F. Hartstein
President and
Chief Executive Officer

William H. King
Vice President and Treasurer

Francis V. Knox, Jr.
Vice President and
Chief Compliance Officer

Investment adviser

John Hancock Advisers, LLC
601 Congress Street
Boston, MA 02210-2805

Custodian

The Bank of New York
One Wall Street
New York, NY 10286

Transfer agent
and registrar

Mellon Investor Services
85 Challenger Road
Overpeck Centre
Ridgefield Park, NJ 07660

Transfer agent for APS

Deutsche Bank Trust
Company Americas
280 Park Avenue
New York, NY 10017

Legal counsel

Wilmer Cutler Pickering
Hale and Dorr LLP
60 State Street
Boston, MA 02109-1803

Stock symbol
Listed New York Stock Exchange:
JHS

For shareholder assistance refer
to page 31


How to contact us

Internet   www.jhfunds.com

Mail       Regular mail:
           Mellon Investor Services
           85 Challenger Road
           Overpeck Centre
           Ridgefield Park, NJ 07660

Phone      Customer service representatives     1-800-852-0218
           Portfolio commentary                 1-800-344-7054
           24-hour automated information        1-800-843-0090
           TDD line                             1-800-231-5469

A listing of month-end portfolio holdings is available on our Web site,
www.jhfunds.com. A more detailed portfolio holdings summary is available
on a quarterly basis 60 days after the fiscal quarter on our Web site or
upon request by calling 1-800-225-5291, or on the Securities and Exchange
Commission's Web site, www.sec.gov.


37
<PAGE>


[A 1 1/2" x 1/2" John Hancock (Signature) logo in upper left hand corner.
A tag line below reads "JOHN HANCOCK FUNDS."]

1-800-852-0218
1-800-843-0090 EASI-Line
1-800-231-5469 (TDD)

www.jhfunds.com

- ------------------
PRESORTED
STANDARD
U. S. POSTAGE
PAID
MIS
- ------------------

P60SA  6/05
       8/05


<PAGE>



ITEM 2.  CODE OF ETHICS.

As of the end of the period, June 30, 2005, the registrant has adopted a
code of ethics, as defined in Item 2 of Form N-CSR, that applies to its
Chief Executive Officer, Chief Financial Officer and Treasurer
(respectively, the principal executive officer, the principal financial
officer and the principal accounting officer, the "Senior Financial
Officers"). A copy of the code of ethics is filed as an exhibit to this
Form N-CSR.

The code of ethics was amended effective February 1, 2005 to address new
Rule 204A-1 under the Investment Advisers Act of 1940 and to make other
related changes.

The most significant amendments were:

(a) Broadening of the General Principles of the code to cover compliance
with all federal securities laws.

(b) Eliminating the interim requirements (since the first quarter of 2004)
for access persons to preclear their personal trades of John Hancock mutual
funds.  This was replaced by post-trade reporting and a 30 day hold
requirement for all employees.

(c) A new requirement for "heightened preclearance" with investment
supervisors by any access person trading in a personal position worth
$100,000 or more.

ITEM 3.  AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable at this time.

ITEM 4.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable at this time.

ITEM 5.  AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable at this time.

ITEM 6.  SCHEDULE OF INVESTMENTS.

Not applicable.

ITEM 7.  DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8.  PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9.  PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT
COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

The registrant has adopted procedures by which shareholders may recommend
nominees to the registrant's Board of Trustees.   A copy of the procedures
is filed as an exhibit to this Form  N-CSR. See attached "John Hancock
Funds - Administration Committee Charter" and "John Hancock Funds -
Governance Committee Charter".

ITEM 11.  CONTROLS AND PROCEDURES.

(a)  Based upon their evaluation of the registrant's disclosure controls
and procedures as conducted within 90 days of the filing date of this Form
N-CSR, the registrant's principal executive officer and principal financial
officer have concluded that those disclosure controls and procedures
provide reasonable assurance that the material information required to be
disclosed by the registrant on this report is recorded, processed,
summarized and reported within the time periods specified in the Securities
and Exchange Commission's rules and forms.

(b) There were no changes in the registrant's internal control over
financial reporting that occurred during the registrant's most recent
fiscal half-year (the registrant's second fiscal half-year in the case of
an annual report) that have materially affected, or are reasonably likely
to materially affect, the registrant's internal control over financial
reporting.

ITEM 12.  EXHIBITS.

(a)(1) Code of Ethics for Senior Financial Officers is attached.

(a)(2) Separate certifications for the registrant's principal executive
officer and principal financial officer, as required by Section 302 of the
Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company
Act of 1940, are attached.

(b) Separate certifications for the registrant's principal executive
officer and principal financial officer, as required by 18 U.S.C.  Section
1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,
and Rule 30a-2(b) under the Investment Company Act of 1940, are attached.
The certifications furnished pursuant to this paragraph are not deemed to
be "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, or otherwise subject to the liability of that section. Such
certifications are not deemed to be incorporated by reference into any
filing under the Securities Act of 1933 or the Securities Exchange Act of
1934, except to the extent that the Registrant specifically incorporates
them by reference.

(c)(1) Submission of Matters to a Vote of Security Holders is attached. See
attached "John Hancock Funds - Administration Committee Charter" and "John
Hancock Funds - Governance Committee Charter".

(c)(2) Contact person at the registrant.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Income Securities Trust


By: /s/ Keith F. Hartstein
    ------------------------------
    Keith F. Hartstein
    President and Chief Executive Officer

Date:    August 29, 2005


Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on
the dates indicated.


By: /s/ Keith F. Hartstein
    ------------------------------
    Keith F. Hartstein
    President and Chief Executive Officer

Date:    August 29, 2005


By: /s/ William H. King
    ------------------------------
    William H. King
    Vice President and Treasurer

Date:    August 29, 2005
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>exnn2.txt
<DESCRIPTION>CERTIFICATION
<TEXT>

CERTIFICATION

I, Keith F. Hartstein, certify that:

1. I have reviewed this report on Form N-CSR of the John Hancock Income
Securities Trust (the "registrant");

2. Based on my knowledge, this report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net
assets, and cash flows (if the financial statements are required to include
a statement of cash flows) of the registrant as of, and for, the periods
presented in this report;

4. The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the
Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting
principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this report based on such
evaluation; and

(d) Disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's most
recent fiscal half-year (the registrant's second fiscal half-year in the
case of an annual report) that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over
financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control
over financial reporting.

Date:    August 29, 2005

/s/ Keith F. Hartstein
- ------------------------------
Keith F. Hartstein
President and Chief Executive Officer



CERTIFICATION

I, William H. King, certify that:

1. I have reviewed this report on Form N-CSR of the John Hancock Income
Securities Trust (the "registrant");

2. Based on my knowledge, this report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net
assets, and cash flows (if the financial statements are required to include
a statement of cash flows) of the registrant as of, and for, the periods
presented in this report;

4. The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the
Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting
principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this report based on such
evaluation; and

(d) Disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's most
recent fiscal half-year (the registrant's second fiscal half-year in the
case of an annual report) that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over
financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control
over financial reporting.

Date:    August 29, 2005

/s/ William H. King
- ------------------------------
William H. King
Vice President and Treasurer
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>exnnos3.txt
<DESCRIPTION>CERTIFICATION 906
<TEXT>

Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the attached Report of John Hancock Income Securities
Trust (the "registrant") on Form N-CSR to be filed with the Securities and
Exchange Commission (the "Report"), each of the undersigned officers of the
registrant does hereby certify that, to the best of such officer's
knowledge:

1. The Report fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the
registrant as of, and for, the periods presented in the Report.


/s/ Keith F. Hartstein
- ------------------------------
Keith F. Hartstein
President and Chief Executive Officer

Dated:  August 29, 2005


/s/ William H. King
- ------------------------------
William H. King
Vice President and Treasurer

Dated:  August 29, 2005


A signed original of this written statement, required by Section 906, has
been provided to the registrant and will be retained by the registrant and
furnished to the Securities and Exchange Commission or its staff upon
request.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CODE ETH
<SEQUENCE>4
<FILENAME>exnncodeth4.txt
<DESCRIPTION>CODE OF ETHICS
<TEXT>

Owner:               Tim Fagan
Administrator:       Tim Fagan
Last Revision Date:  02/05
Next Revision Date:  05/05


This is the code of ethics of:
o  John Hancock Advisers, LLC
o  Sovereign Asset Management Co.
o  each open-end and closed-end fund advised by John Hancock Advisers, LLC
o  John Hancock Funds, LLC
(together, called "John Hancock Funds")


1.  General Principles

Each person within the John Hancock Funds organization is responsible
for maintaining the very highest ethical standards when conducting our
business. This means that:

o  You have a fiduciary duty at all times to place the interests of
   our clients first.

o  All of your personal securities transactions must be conducted
   consistent with this code of ethics and in such a manner as to avoid
   any actual or potential conflict of interest or other abuse of your
   position of trust and responsibility.

o  You should not take inappropriate advantage of your position or
   engage in any fraudulent or manipulative practice (such as
   front-running or manipulative market timing) with respect to our
   clients' accounts.

o  You must treat as confidential any information concerning the
   identity of security holdings and financial circumstances of
   clients.

o  You must comply with all applicable federal securities laws.

o  You must promptly report any violation of this code of ethics that
   comes to your attention to the Chief Compliance Officer, Timothy M.
   Fagan, or the Chief Legal Officer, Susan S. Newton.

The General Principles discussed above govern all conduct, whether or
not the conduct is also covered by more specific standards and
procedures in this code of ethics.  As described below under the
heading "Interpretation and Enforcement", failure to comply with the
code of ethics may result in disciplinary action, including
termination of employment.


2.  To Whom Does This Code Apply?

This code of ethics applies to you if you are a director, officer or
employee of John Hancock Advisers, LLC, Sovereign Asset Management
Co., John Hancock Funds, LLC or a "John Hancock fund" (any fund
advised by John Hancock Advisers, LLC or Sovereign Asset Management
Co.). It also applies to you if you are an employee of John Hancock
Life Insurance Co. or its subsidiaries who participates in making
recommendations for, or receives information about, portfolio trades
or holdings of the John Hancock funds or accounts.  Certain
provisions apply to trustees of the John Hancock mutual funds and
closed-end funds-see Appendix C for more information.

Please note that if a policy described below applies to you, it also
applies all accounts over which you have a beneficial interest.
Normally, you will be deemed to have a beneficial interest in your
personal accounts, those of a spouse, "significant other," minor
children or family members sharing a household, as well as all
accounts over which you have discretion or give advice or information.
"Significant others" are defined for these purposes as two people
who (1) share the same primary residence; (2) share living expenses;
and (3) are in a committed relationship and intend to remain in the
relationship indefinitely.

There are three main categories for persons covered by this code of
ethics, taking into account their positions, duties and access to
information regarding fund portfolio trades. You have been notified
about which of these categories applies to you, based on the
Investment Compliance Department's understanding of your current role.
If you have a level of investment access beyond your assigned
category, or if you are promoted or change duties and as a result
should more appropriately be included in a different category, it is
your responsibility to notify Timothy M. Fagan, Chief Compliance
Officer.

The basic definitions of the three main categories, with examples, are
provided below. The more detailed definitions of each category are
attached as Appendix A.

<TABLE>
<S>                                     <C>                                    <C>
- --------------------------------------- -------------------------------------- --------------------------------------
     "Investment Access" person                "Regular Access" person                 "Non-Access" person

A person who regularly participates        A person who regularly obtains        A person who does not regularly
 in a fund's investment process or         information regarding (1) fund        participate in a fund's investment
 makes securities recommendations         portfolio trades or (2) non-public     process or obtain information
            to clients.                   information regarding holdings or      regarding fund portfolio trades.
                                        securities recommendations to clients.

examples:                               examples:                                examples:
- ---------                               ---------                                ---------
o  portfolio managers                   o  personnel in Investment               o  wholesalers
o  analysts                                Operations or Compliance              o  inside wholesalers who
o  traders                              o  most FFM personnel                       don't attend investment
                                        o  Technology personnel with                "morning meetings"
                                           access to investment systems          o  certain administrative
                                        o  attorneys and some legal                 personnel
                                           administration personnel
                                        o  investment admin. personnel
- --------------------------------------- -------------------------------------- --------------------------------------
</TABLE>


3.  Which Accounts and Securities are Subject to the Code's Personal
Trading Restrictions?

If this code of ethics describes "Personal Trading Requirements" (i.e.
John Hancock Mutual Fund reporting requirement and holding period, the
preclearance requirement, the ban on short-term profits, the ban on
IPOs, the disclosure of private placement conflicts and the reporting
requirements) that apply to your access category as described above,
then the requirements apply to trades for any account over which you
have a beneficial interest. Normally, this includes your personal
accounts, those of a spouse, "significant other," minor children or
family members sharing your household, as well as all accounts over
which you have discretion or give advice or information. This
includes all brokerage accounts that contain securities (including
brokerage accounts that only contain securities exempt from
reporting).  Accounts over which you have no direct or indirect
influence or control are exempt. To prevent potential violations of
this code of ethics, you are strongly encouraged to request
clarification for any accounts that are in question.


These personal trading requirements do not apply to the following
securities:

o  Direct obligations of the U.S. government (e.g., treasury
   securities);

o  Bankers' acceptances, bank certificates of deposit, commercial
   paper, and high quality short-term debt obligations, including
   repurchase agreements;

o  Shares of open-end mutual funds that are not advised or sub-advised
   by John Hancock Advisers or by John Hancock or Manulife entities;

o  Shares issued by money market funds; and

o  Securities in accounts over which you have no direct or indirect
   influence or control.


Except as noted above, the Personal Trading Requirements apply to all
securities, including:

o  stocks or bonds;

o  government securities that are not direct obligations of the U.S.
   government, such as Fannie Mae or municipal securities;

o  Shares of all closed-end funds;

o  Options on securities, on indexes, and on currencies;

o  All kinds of limited partnerships;

o  Foreign unit trusts and foreign mutual funds;

o  Private investment funds and hedge funds; and

o  Futures, investment contracts or any other instrument that is
   considered a "security" under the Investment Advisers Act.


Different requirements apply to shares of open-end mutual funds that
are advised or sub-advised by John Hancock Advisers or by John Hancock
or Manulife entities-see the section below titled "John Hancock Mutual
Funds Reporting Requirement and Holding Period".



4.  Overview of Policies

<TABLE>
<S>                                                    <C>                    <C>                    <C>
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------

                                                             Investment            Regular Access          Non-Access
                                                           Access Person               Person                Person
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
General principles                                              yes                    yes                    yes
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------

Policies outside the code
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Conflict of interest policy                                     yes                    yes                    yes
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Inside information policy                                       yes                    yes                    yes
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Policy regarding dissemination of mutual fund
portfolio information                                           yes                    yes                    yes
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------

Policies in the code
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Restriction on gifts                                            yes                    yes                    yes
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
John Hancock mutual funds reporting
requirement and holding period                                  yes                    yes                    yes
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Pre-clearance requirement                                       yes                    yes                  Limited
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Heightened preclearance of securities transactions
for "Significant Personal Positions"                            yes                    yes                    no
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Ban on short-term profits                                       yes                    no                     no
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Ban on IPOs                                                     yes                    no                     no
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Disclosure of private placement conflicts                       yes                    no                     no
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Seven day blackout period                                       yes                    no                     no
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------

Reports and other disclosures outside the code
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Broker letter/duplicate confirms                                yes                    yes                    yes
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------

Reports and other disclosures in the code
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Annual recertification form                                     yes                    yes                    yes
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Initial/annual holdings reports                                 yes                    yes                    no
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
Quarterly transaction reports                                   yes                    yes                    no
- ------------------------------------------------------ ---------------------- ---------------------- ----------------------
</TABLE>


5.  Policies Outside the Code of Ethics

John Hancock Funds has certain policies that are not part of the code
of ethics, but are equally important.  The two most important of these
policies are (1) the Company Conflict and Business Practice Policy;
and (2) the Inside Information Policy.


>>  Company Conflict & Business Practice Policy

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
              Non-Access Persons
- ----------------------------------------

A conflict of interest occurs when your private interests interfere or
could potentially interfere with your responsibilities at work. You
must not place yourself or the company in a position of actual
or potential conflict.

This Policy for officers and employees covers a number of important
issues. For example, you cannot serve as a director of any company
without first obtaining the required written executive approval.

This Policy includes significant requirements to be followed if your
personal securities holdings overlap with John Hancock Funds
investment activity. For example, if you or a member of your family own:

o  a 5% or greater interest in a company, John Hancock Funds and its
   affiliates may not make any investment in that company;

o  a 1% or greater interest in a company, you cannot participate in any
   decision by John Hancock Funds and its affiliates to buy or sell
   that company's securities;

o  ANY interest in a company, you cannot recommend or participate in a
   decision by John Hancock Funds and its affiliates to buy or sell
   that company's securities unless your personal interest is fully
   disclosed at all stages of the investment decision.

(This is just a summary of this requirement-please read Section IV of
the Company Conflict and Business Practices Policy for more detailed
information.)


Other important issues in this Policy include:

o  personal investments or business relationships

o  misuse of inside information

o  receiving or giving of gifts, entertainment or favors

o  misuse or misrepresentation of your corporate position

o  disclosure of confidential or proprietary information

o  antitrust activities

o  political campaign contributions and expenditures on public officials


>>  Inside Information Policy and Procedures

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
              Non-Access Persons
- ----------------------------------------

The antifraud provisions of the federal securities laws generally
prohibit persons with material non-public information from trading on
or communicating the information to others. Sanctions for
violations can include civil injunctions, permanent bars from the
securities industry, civil penalties up to three times the profits
made or losses avoided, criminal fines and jail sentences. While
Investment Access persons are most likely to come in contact with
material non-public information, the rules (and sanctions) in this
area apply to all John Hancock Funds personnel and extend to
activities both related and unrelated to your job duties.

The Inside Information Policy and Procedures covers a number of
important issues, such as:

o  The misuse of material non-public information

o  The information barrier procedure

o  The "restricted list" and the "watch list"

o  broker letters and duplicate confirmation statements (see section 7
   of this code of ethics)


>> Policy Regarding Dissemination of Mutual Fund Portfolio Information

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
              Non-Access Persons
- ----------------------------------------

Information about securities held in a mutual fund cannot be disclosed
except in accordance with this Policy, which generally requires time
delays of approximately one month and public posting of the
information to ensure that it uniformly enters the public domain.


6.  Policies in the Code of Ethics

>> Restriction on Gifts

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
              Non-Access Persons
- ----------------------------------------

You and your family cannot accept preferential treatment or favors
(for example, gifts) from securities brokers or dealers or other
organizations with which John Hancock Funds might transact
business, except in accordance with the Company Conflict and Business
Practice Policy. For the protection of both you and John Hancock
Funds, the appearance of a possible conflict of interest must be
avoided. You should exercise caution in any instance in which business
travel and lodging are paid for by someone other than John Hancock
Funds. The purpose of this policy is to minimize the basis for any
charge that you used your John Hancock Funds position to obtain for
yourself opportunities which otherwise would not be offered to you.
Please see the Company Conflict and Business Practice Policy's
"Compensation and Gifts" section for additional details regarding
restrictions on gifts and exceptions for "nominal value" gifts.


>> John Hancock Mutual Funds Reporting Requirement and Holding Period

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
              Non-Access Persons
- ----------------------------------------

You must follow a reporting requirement and a holding period
requirement if you purchase either:

o  a "John Hancock Mutual Fund" (i.e. a mutual fund that is advised by
   John Hancock Advisers or by John Hancock or Manulife entity,
   excluding the money market funds and any dividend reinvestment,
   payroll deduction, systematic investment/withdrawal and other
   program trades); or

o  a "John Hancock Variable Product" (i.e. contacts funded by
   insurance company separate accounts that use one or more portfolios
   of Manufacturers Investment Trust or John Hancock Variable Series
   Trust).

Reporting Requirement: You must report your holdings and your trades
in a John Hancock Mutual Fund or a John Hancock Variable Product.
This is not a preclearance requirement-you can report your holdings
after you trade by submitting duplicate confirmation statements to the
Investment Compliance Department. If you are an Investment Access
Person or a Regular Access Person, you must also make sure that your
holdings in a John Hancock Mutual Fund are included in your Initial
Holdings Report (upon hire) and Annual Holdings Report (each year
end).

If you purchase a John Hancock Variable Product, you must notify the
Investment Compliance Department. The Investment Compliance
Department will then obtain directly from the contract administrators
the personal trade and holdings information regarding the portfolios
underlying the Manulife or John Hancock variable insurance contracts.

The Investment Compliance Department will obtain personal securities
trade and holdings information in the 401(k) plans for John Hancock
Funds or John Hancock employees directly from the plan administrators.

Holding Requirement: You cannot profit from the purchase and sale of
a John Hancock Mutual Fund within 30 calendar days.  The purpose of
this policy is to address the risk, real or perceived, of manipulative
market timing or other abusive practices involving short-term personal
trading in the John Hancock Mutual Funds. Any profits realized on
short-term trades must be surrendered by check payable to John Hancock
Advisers, LLC and will be contributed by John Hancock Advisers, LLC to
a charity, upon determination by the Compliance and Business Practices
Committee. If you give away a security, it is considered a sale. You
may request an exemption from this policy for involuntary sales due to
unforeseen corporate activity (such as a merger), or hardship reasons
(such as unexpected medical expenses) by sending an e-mail to Timothy
M. Fagan, Chief Compliance Officer.


>>  Preclearance of Securities Transactions

- ----------------------------------------
Applies to:  Investment Access Persons
             Regular Access Persons

Also, for a limited category of trades:
            --------------------------
                Non-Access Persons
- ----------------------------------------

Limited Category of Trades for Non-Access Persons: If you are a
Non-Access person, you must preclear transactions in securities of any
closed-end funds advised by John Hancock Advisers, LLC. A Non-Access
person is not required to preclear other trades. However, please keep
in mind that a Non-Access person is required to report securities
transactions after every trade (even those that are not required to be
precleared) by requiring your broker to submit duplicate confirmation
statements, as described in section 7 of this code of ethics.

Investment Access persons and Regular Access persons: If you are an
Investment Access person or Regular Access person, you must "preclear"
(i.e.: receive advance approval of) any personal securities
transactions in the categories described above in the section "Which
Accounts and Securities are Subject to the Code's Personal Trading
Restrictions". Due to this preclearance requirement, participation in
investment clubs is prohibited.

Preclearance of private placements requires some special considerations
- -- the decision will take into account whether, for example: (1) the
investment opportunity should be reserved for John Hancock Funds
clients; and (2) it is being offered to you because of your position
with John Hancock Funds.

How to preclear: You preclear a trade by following the steps outlined
in the preclearance procedures, which are attached as Appendix B.
Please note that:

o   You may not trade until clearance is received.

o   Clearance approval is valid only for the date granted (i.e. the
    preclearance date and the trade date should be the same.

o   A separate procedure should be followed for requesting preclearance of
    a private placement or a derivative, as detailed in Appendix B. The
    Investment Compliance Department must maintain a five-year record of
    all clearances of private placement purchases by Investment Access
    persons, and the reasons supporting the clearances.

The preclearance policy is designed to proactively identify possible
"problem trades" that raise front-running, manipulative market timing
or other conflict of interest concerns (example: when an Investment
Access person trades a security on the same day as a John Hancock
fund).


>> Heightened Preclearance of Securities Transactions for "Significant
Personal Positions"

- ----------------------------------------
Applies to:  Investment Access Persons
             Regular Access Persons
- ----------------------------------------

If you are an Investment Access person or Regular Access person with a
personal securities position that is worth $100,000 or more, this is
deemed to be a "Significant Personal Position". This applies to any
personal securities positions in the categories described above in the
section "Which Accounts and Securities are Subject to the Code's
Personal Trading Restrictions". Before you make personal trades to
establish, increase or decrease a Significant Personal Position, you
must notify either the Chief Fixed Income Officer or the Chief Equity
Officer that (1) you intend to trade in a Significant Personal
Position and (2) confirm that you are not aware of any clients for
whom related trades should be completed first. You must receive their
pre-approval to proceed--their approval will be based on their
conclusion that your personal trade in a Significant Personal Position
will not "front-run" any action that John Hancock Funds should take
for a client. This Heightened Preclearance requirement is in addition
to, not in place of, the regular preclearance requirement described
above-you must also receive the regular preclearance before you trade.


>> Ban on Short-Term Profits

- ----------------------------------------
Applies to:  Investment Access Persons
- ----------------------------------------

If you are an Investment Access person, you cannot profit from the
purchase and sale (or sale and purchase) of the same (or equivalent)
securities within 60 calendar days.  This applies to any personal
securities trades in the categories described above in the section
"Which Accounts and Securities are Subject to the Code's Personal
Trading Restrictions".

You may invest in derivatives or sell short provided the transaction
period exceeds the 60-day holding period. If you give away a security,
it is considered a sale.

The purpose of this policy is to address the risk, real or perceived,
of front-running, manipulative market timing or other abusive
practices involving short-term personal trading. Any profits realized
on short-term trades must be surrendered by check payable to John
Hancock Advisers, LLC and will be contributed by John Hancock
Advisers, LLC to a charity, upon determination by the Compliance and
Business Practices Committee.

You may request an exemption from this policy for involuntary sales
due to unforeseen corporate activity (such as a merger), or hardship
reasons (such as unexpected medical expenses) by sending an e-mail to
Timothy M. Fagan, Chief Compliance Officer.


>> Ban on IPOs

- ----------------------------------------
Applies to:  Investment Access Persons
- ----------------------------------------

If you are an Investment Access person, you may not acquire securities
in an initial public offering (IPO). You may not purchase any
newly-issued securities until the next business (trading) day after
the offering date. This applies to any personal securities trades in
the categories described above in the section "Which Accounts and
Securities are Subject to the Code's Personal Trading Restrictions".

There are two main reasons for this prohibition: (1) these purchases
may suggest that persons have taken inappropriate advantage of their
positions for personal profit; and (2) these purchases may create at
least the appearance that an investment opportunity that should have
been available to the John Hancock funds was diverted to the personal
benefit of an individual employee.

You may request an exemption for certain investments that do not
create a potential conflict of interest, such as: (1) securities of a
mutual bank or mutual insurance company received as compensation in a
demutualization and other similar non-voluntary stock acquisitions;
(2) fixed rights offerings; or (3) a family member's participation as
a form of employment compensation in their employer's IPO.


>> Disclosure of Private Placement Conflicts

- ----------------------------------------
Applies to:  Investment Access Persons
- ----------------------------------------

If you are an Investment Access person and you own securities
purchased in a private placement, you must  disclose  that  holding
when  you participate in a decision to purchase or sell that same
issuer's securities for a John Hancock fund. This applies to any
private placement holdings in the categories described above in the
section "Which Accounts and Securities are Subject to the Code's
Personal Trading Restrictions". Private placements are securities
exempt from SEC registration under section 4(2), section 4(6) or rules
504 -506 of the Securities Act of 1933.

The investment decision must be subject to an independent review by
investment personnel with no personal interest in the issuer.

The purpose of this policy is to provide appropriate scrutiny in
situations in which there is a potential conflict of interest.


>> Seven Day Blackout Period

- ----------------------------------------
Applies to:  Investment Access Persons
- ----------------------------------------

If you are a portfolio manager (or were identified to the Investment
Compliance Department as part of a portfolio management team) you are
prohibited from buying or selling a security within seven calendar
days before and after that security is traded for a fund that you
manage unless no conflict of interest exists in relation to that
security (as determined by the Compliance and Ethics Committee).

In addition, all investment access persons are prohibited from
knowingly buying or selling a security within seven calendar days
before and after that security is traded for a John Hancock fund
unless no conflict of interest exists in relation to that security.
This applies to any personal securities trades in the categories
described above in the section "Which Accounts and Securities are
Subject to the Code's Personal Trading Restrictions".  If a John
Hancock fund trades in a security within seven calendar days before or
after you trade in that security, you may be required to demonstrate
that you did not know that the trade was being considered for that
John Hancock fund.

You will be required to sell any security purchased in violation of
this policy unless it is determined that no conflict of interest
exists in relation to that security (as determined by the Compliance
and Ethics Committee). Any profits realized on trades determined by
the Compliance and Ethics Committee to be in violation of this policy
must be surrendered by check payable to John Hancock Advisers, LLC and
will be contributed by John Hancock Advisers, LLC to a charity.


7. Reports and Other Disclosures Outside the Code of Ethics


>> Broker Letter/Duplicate Confirm Statements

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
              Non-Access Persons
- ----------------------------------------

As required by the Inside Information Policy, you must inform your
stockbroker that you are employed by an investment adviser or broker.
Your broker is subject to certain rules designed to prevent
favoritism toward your accounts. You may not accept negotiated
commission rates that you believe may be more favorable than the
broker grants to accounts with similar characteristics.

When a brokerage account is opened for which you have a beneficial
interest, before any trades are made, you must:

o  Notify the broker-dealer with which you are opening an account that
   you are a registered associate of JHF;

o  Ask the firm in writing to have duplicate written confirmations of
   any trade, as well as statements or other information concerning
   the account, sent to the JHF Investment Compliance Department
   (contact: Fred Spring), 10th Floor, 101 Huntington Avenue, Boston,
   MA 02199; and

o  Notify the JHF Investment Compliance Department, in writing, that
   you have an account before you place any trades.

This applies to any personal securities trades in the categories
described above in the section "Which Accounts and Securities are
Subject to the Code's Personal Trading Restrictions" as well as trades
in John Hancock Mutual Funds and John Hancock Variable Products. The
Investment Compliance Department may rely on information submitted by
your broker as part of your reporting requirements under this code of
ethics.


8. Reports and Other Disclosures In the Code of Ethics

>> Initial Holdings Report and Annual Holdings Report

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
- ----------------------------------------

You must file an initial holdings report within 10 calendar days after
becoming an Investment Access person or a Regular Access person. The
information must be current as of a date no more than 45 days prior to
your becoming an Investment Access person or a Regular Access person.

You must also file an annual holdings report (as of December
31st) within 45 calendar days after the calendar year end. This
applies to any personal securities holdings in the categories
described above in the section "Which Accounts and Securities are
Subject to the Code's Personal Trading Restrictions" as well as
holdings in John Hancock Mutual Funds and John Hancock Variable
Products.

Your reports must include:

o  the title and type of security, and as applicable the exchange ticker
   symbol or CUSIP number, number of shares, and principal amount of each
   reportable security;

o  the name of any broker, dealer or bank with which you maintain an
   account; and

o  the date that you submit the report.


>> Quarterly Transaction Reports

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
- ----------------------------------------

You must file a quarterly transaction report within 30 calendar days
after the end of a calendar quarter if you are an Investment Access
person or a Regular Access person. This report must cover all
transactions during the past calendar quarter for any accounts and
personal securities trades in the categories described above in the
section "Which Accounts and Securities are Subject to the Code's
Personal Trading Restrictions" as well as transactions in John Hancock
Mutual Funds and John Hancock Variable Products.  You must submit a
quarterly report even if you have no transactions during the quarter.

Your quarterly transaction report must include the following
information about these transactions:

o  the date of the transaction, the title, and as applicable the
   exchange ticker symbol or CUSIP number, interest rate and maturity
   date, number of shares, and principal amount of each reportable
   security involved;

o  the nature of the transaction (i.e. purchase, sale or any other
   type of acquisition or disposition);

o  the price at which the transaction was effected;

o  the name of the broker, dealer or bank with or through which the
   transaction was effected; and

o  the date that you submit the report.


>> Annual Certification

- ----------------------------------------
Applies to:   Investment Access Persons
              Regular Access Persons
              Non-Access Persons
- ----------------------------------------

At least annually (or additionally when the code of ethics has been
significantly changed), you must provide a certification at a date
designated by the Investment Compliance Department that:

(1) you have read and understood this  code of ethics;

(2) you recognize that you are subject to its policies; and

(3) you have complied with its requirements.

You are required to make this certification to demonstrate that you
understand the importance of these policies and your responsibilities
under the code of ethics.


9. Limited Access Persons

There is an additional category of persons called "Limited Access"
persons. This category consists only of directors of John Hancock
Advisers, LLC or the John Hancock funds who:

(a) are not also officers of John Hancock Advisers, LLC; and

(b) do not ordinarily obtain information about fund portfolio trades.

A more detailed definition of Limited Access persons, and a list of
the policies that apply to them, is attached as Appendix C.


10. Subadvisers

A subadviser to a John Hancock fund has a number of code of ethics
responsibilities, as described in Appendix D.


11. Reporting Violations

If you know of any violation of our code of ethics, you have a
responsibility to promptly report it. You should also report any
deviations from the controls and procedures that safeguard John
Hancock Funds and the assets of our clients. You can request
confidential treatment of your reporting action.

You can report violations to:

Alfred P. Ouellette, Senior Attorney and Assistant Secretary (617) 663-4324


12. Interpretation and Enforcement

This code of ethics cannot anticipate every situation in which
personal interests may be in conflict with the interests of our
clients. You should be responsive to the spirit and intent of this
code of ethics as well as its specific provisions.

When any doubt exists regarding any code of ethics provision or
whether a conflict of interest with clients might exist, you should
discuss the transaction in advance with the Chief Compliance Officer
Timothy M. Fagan, (617-375-6205) or the Chief Legal Officer Susan
Newton (617-375-1702)). The code of ethics is designed to detect and
prevent fraud against clients and fund investors, and to avoid the
appearance of impropriety. If you feel inequitably burdened by any
policy, you should feel free to contact Timothy Fagan, Susan Newton or
the Compliance and Business Practices Committee. Exceptions may be
granted where warranted by applicable facts and circumstances. For
example, exemption for some Personal Trading Requirements may be
granted for transactions effected pursuant to an automatic investment
plan.

To provide assurance that policies are effective, the Investment
Compliance Department will monitor and check personal securities
transaction reports and certifications against fund portfolio
transactions. Additional administration and recordkeeping procedures
are described in Appendix E.

The Chief Compliance Officer has general administrative responsibility
for this code of ethics, and will administer procedures to review
personal trading reports. The Compliance and Business Practices
Committee of John Hancock Funds approves amendments to the code of
ethics and dispenses sanctions for violations of the code of ethics.
Accordingly, the Investment Compliance Department will refer
violations to the Complaince and Business Practices Committee for
review and appropriate action. The following factors will be
considered when the Compliance and Business Practices Committee
determines a fine or other disciplinary action:

o  the person's position and function (senior personnel may be held to
   a higher standard);

o  the amount of the trade;

o  whether the funds or accounts hold the security and were trading
   the same day;

o  whether the violation was by a family member.

o  whether the person has had a prior violation and which policy was
   involved.

o  whether the employee self-reported the violation.

You can request reconsideration of any disciplinary action by
submitting a written request to the Compliance and Business Practices
Committee.

No less frequently than annually, a written report of all material
violations and sanctions, significant conflicts of interest and other
related issues will be submitted to the boards of directors of the
John Hancock funds for their review. Sanctions for violations could
include fines, limitation of personal trading activity, suspension or
termination of the violator's position with John Hancock Funds and/or
a report to the appropriate regulatory authority.


13. Education of Employees

The Investment Compliance Department will provide a paper copy or
electronic version of the code of ethics (and any amendments) to each
person subject to this code of ethics. The Investment Compliance
Department will also administer training of employees on the
principles and procedures of the code of ethics.


Appendix A: Categories of Personnel

You have been notified about which of these categories applies to you,
based on the Investment Compliance Department's understanding of your
current role. If you have a level of investment access beyond that
category, or if you are promoted or change duties and as a result
should more appropriately be included in a different category, it is
your responsibility to immediately notify the Chief Compliance Officer
Timothy M. Fagan, (617-375-6205) or the Code of Ethics Administrator
Fredrick Spring (617-375-4987).


1)   Investment Access person: You are an Investment Access person
if you are an employee of John Hancock Advisers, LLC, a John Hancock
fund, or John Hancock Life Insurance Company or its subsidiaries who,
in connection with your regular functions or duties, makes or
participates in making recommendations regarding the purchase or sale
of securities by a John Hancock fund.

(examples: portfolio managers, analysts, traders)


2)   Regular Access person: You are a Regular Access person if you
do not fit the definition of Investment Access Person, but you do fit
one of the following two sub-categories:

o  You are an officer (vice president and higher) or director of John
   Hancock Advisers, LLC or a John Hancock fund. (Some directors may
   be Limited Access persons-please see Appendix C for this
   definition.)

o  You are an employee of John Hancock Advisers, LLC, a John Hancock
   fund or John Hancock Life Insurance Co. or its subsidiaries , or a
   director, officer (vice president and higher) or employee of John
   Hancock Funds, LLC who has access to nonpublic information
   regarding any clients' purchase or sale of securities, or nonpublic
   information regarding the portfolio holdings of any reportable fund
   or who is involved in making securities recommendations to clients,
   or who has access to such recommendations that are nonpublic.

(examples: Investment Operations personnel, Investment Compliance
Department personnel, most Fund Financial Management personnel,
investment administrative personnel, Technology Resources personnel
with access to investment systems, attorneys and some legal
administration personnel)


3)   Non-Access person: You are a non-access person if you are an
employee of John Hancock Advisers, LLC, John Hancock Funds, LLC or a
John Hancock fund who does not fit the definitions of any of the other
three categories (Investment Access Person, Regular Access Person or
Limited Access Person). To be a non-access person, you must not
obtain information regarding the purchase or sale of securities by a
John Hancock fund or nonpublic information regarding the portfolio
holdings in connection with your regular functions or duties.

(examples: wholesalers, inside wholesalers, certain administrative
staff)


4)   Limited Access Person: Please see Appendix C for this
definition.


Appendix B: Preclearance Procedures

You should read the Code of Ethics to determine whether you must
obtain a preclearance before you enter into a securities transaction.
If you are required to obtain a preclearance, you should follow the
procedures detailed below.

1. Pre-clearance for Public Securities including Derivatives,
Futures, Options and Selling Short:

A request to pre-clear should be entered into the John Hancock
Personal Trading & Reporting System.

The John Hancock Personal Trading & Reporting System is located under
your Start Menu on your Desktop. It can be accessed by going to
Programs/Personal Trading & Reporting/ Personal Trading & Reporting
and by entering your Web Security Services user id and password.

If the John Hancock Personal Trading & Reporting System is not on your
Desktop, please contact the HELP Desk at (617) 572-6950 for
assistance.

The Trade Request Screen:

At times you may receive a message like "System is currently
unavailable". The system is scheduled to be offline from 8:00 PM until
7:00 AM each night.

[GRAPHIC: Trade Request Screen]

Ticker/Security Cusip: Fill in this one of these fields with the
proper information of the security you want to buy or sell. Then click
the [Lookup] button. Select one of the hyperlinks for the desired
security, and the system will populate the proper fields Ticker,
Security Cusip, Security Name and Security Type automatically on the
Trade Request Screen.

If You Don't Know the Ticker, Cusip, or Security Name:

If you do not know the full ticker, you may type in the first few
letters followed by an asterisk * and click the [Lookup] button. For
example, let's say you want to buy some shares of Intel, but all you
can remember of the ticker is that it begins with int, so you enter
int* for Ticker. If any tickers beginning with int are found, they are
displayed on a new screen. Select the hyperlink of the one you want,
and the system will populate Security Cusip, Security Name and
Security Type automatically on the Trade Request Screen. If you do not
know the full cusip, you may type in the first few numbers followed by
an asterisk * and click the [Lookup] button. For example, let's say
you want to buy some shares of Microsoft, but all you can remember of
the cusip is that it begins with 594918, so you enter 594918* for
Ticker. If any cusips beginning with 594918 are found, they are
displayed on a new screen. Select the hyperlink of the one you want,
and the system will fill in Ticker, Security Name and Security Type
automatically on the Trade Request Screen. If you do not know the
Ticker but have an idea of what the Security Name is, you may type in
an asterisk, a few letters of the name and an asterisk * and click the
[Lookup] button. For example, let's say you want to buy some shares of
American Brands, so you enter *amer* for Security Name. Any securities
whose names have amer in them are displayed on a new screen, where you
are asked to select the hyperlink of the one you want, and the system
will fill in Ticker, Cusip and Security Type automatically on the
Trade Request Screen.

Other Items on the Trade Request Screen:

Brokerage Account: Click on the dropdown arrow to the right of the
Brokerage Account field to choose the account to be used for the
trade.

Transaction Type: Choose one of the values displayed when you click
the dropdown arrow to the right of this field.

Trade Date: You may only submit trade requests for the current date.

Note: One or more of these fields may not appear on the Request Entry
screen if the information is not required. Required fields are
determined by the Investment Compliance Department.

Click the [Submit Request] button to send the trade request to your
Investment Compliance department.

Once you click the [Submit Request] button, you will be asked to
confirm the values you have entered. Review the information and click
the [Confirm] button if all the information is correct. After which,
you will receive immediate feedback in your web browser. (Note: We
suggest that you print out this confirmation and keep it as a record
of the trade you have made). After this, you can either submit another
trade request or logout.

Attention Investment Access Persons: If the system identifies a
potential violation of the Ban on Short Term Profits Rule, your
request will be sent to the Investment Compliance Department for
review and you will receive feedback via the e-mail system.

Starting Over:

To clear everything on the screen and start over, click the [Clear
Screen] button.

Exiting Without Submitting the Trade Request:

If you decide not to submit the trade request before clicking the
[Submit Request] button, simply exit from the browser by clicking the
[X] button on the upper right or by pressing [Alt+F4], or by clicking
the Logout hyperlink on the lower left side of the screen.

Ticker/Security Name Lookup Screen:

You arrive at this screen from the Trade Request Screen, where you've
clicked the [Lookup] button (see above, "If You Don't Know the Ticker,
Cusip, or Security Name"). If you see the security you want to trade,
you simply select its corresponding hyperlink, and you will
automatically return to the Trade Request Screen, where you finish
making your trade request. If the security you want to trade is not
shown, that means that it is not recognized by the system under the
criteria you used to look it up. Keep searching under other names
(click the [Return to Request] button) until you are sure that the
security is not in the system. If you determine that the desired
security is not in the system, please contact a member of the
Investment Compliance department to add the security for you. Contacts
are listed below:

Fred Spring x54987

Adding Brokerage Accounts:

To access this functionality, click on the Add Brokerage Account
hyperlink on the left frame of your browser screen. You will be
prompted to enter the Brokerage Account Number, Brokerage Account
Name, Date Opened, and Broker. When you click the [Create New
Brokerage Account] button, you will receive a message that informs you
whether the account was successfully created.

[GRAPHIC: Add Brokerage Account screen]


3. Pre-clearance for Private Placements and Initial Public Offerings:

You may request a preclearance of private placement securities or an
Initial Public Offering by contacting Fred Spring via Microsoft
Outlook (please "cc." Tim Fagan on all such requests). Please keep in
mind that the code of ethics prohibits Investment Access persons from
purchasing securities in an initial public offering.

The request must include:

|_| the associate's name;

|_| the associate's John Hancock Funds' company;

|_| the complete name of the security;

|_| the seller and whether or not the seller is one with whom the
    associate does business on a regular basis;

|_| any potential conflict, present or future, with fund trading activity
    and whether the security might be offered as inducement to later
    recommend publicly traded securities for any fund; and

|_| the date of the request.

Clearance of private placements or initial public offerings may be
denied if the transaction could create the appearance of impropriety.
Clearance of initial public offerings will also be denied if the
transaction is prohibited for a person due to his or her access
category under the code of ethics.


Appendix C: Limited Access Persons

There are two types of Limited Access Persons-(1) Certain directors of
the Adviser and (2) the Independent Trustees/Directors of the Funds.

(1) Certain Directors of the Adviser:

You are a Limited Access person if you are a director of John Hancock
Advisers, LLC or Sovereign Asset Management Co. and you meet the three
following criteria:

(a) you are not also an officer of John Hancock Advisers, LLC,
Sovereign Asset Management Co. or a John Hancock fund;

(b) you do not have access to nonpublic information regarding any
clients' purchase or sale of securities, or nonpublic information
regarding the portfolio holdings of any John Hancock fund or account;
and

(c) you are not involved in making securities recommendations to
clients and do not have access to such recommendations that are
nonpublic.

(examples: directors of John Hancock Advisers, LLC or Sovereign Asset
Management Co. who are not involved in the daily operations of the
adviser)

If you are a Limited Access Person who fits this definition, the
following policies apply to your category. These policies are
described in detail in the code of ethics.

o  General principles

o  Inside information policy and procedures

o  Broker letter/Duplicate Confirms

o  Initial/annual holdings reports

o  Quarterly transaction reports

o  Annual recertification

Preclearance requirement LIMITED: You only need to preclear any
direct or indirect acquisition of beneficial ownership in any security
in an initial public offering (an IPO) or in a limited offering (i.e.
a private placement). To request preclearance of these securities,
contact Timothy Fagan at tfagan@jhancock.com and/or Fredrick Spring at
fspring@jhancock.com.

- ---------------

*A Limited Access Person may complete this requirement under the code
of ethics of another Manulife/John Hancock adviser or fund by the
applicable regulatory deadlines and arrange for copies of the required
information to be sent to the John Hancock Funds Compliance
Department.

- ---------------

(2) The Independent Trustees/Directors of the Funds: If you are an
independent trustee/director to a John Hancock fund (i.e. not an
"interested person" of the fund within the meaning of the Investment
Company Act of 1940), the following policies apply to your category.
These policies are described in detail in the code of ethics.

o  General principles

o  Annual recertification

o  Quarterly transaction report, but only if you knew (or should have
   known) that during the 15 calendar days before or after you trade a
   security, either:

(i) a John Hancock fund purchased or sold the same security, or

(ii) a John Hancock fund or John Hancock Advisers, LLC considered
purchasing or selling the same security.

This policy applies to holdings in your personal accounts, those of a
spouse, "significant other" or family members sharing your household,
as well as all accounts over which you have discretion or give advice
or information. If this situation occurs, it is your responsibility
to contact Timothy M. Fagan, Chief Compliance Officer, at (617)
375-6205 and he will assist you with the requirements of the quarterly
transaction report.

This means that the independent trustees of the funds will not usually
be required to file a quarterly transaction report-they are only
required to file in the situation described above.


Appendix D: Subadvisers

Each subadviser to a John Hancock fund is subject to its own code of
ethics, which must meet the requirements of Rule 17j-1 and Rule
204A-1.

Approval of Code of Ethics

Each subadviser to a John Hancock fund must provide a copy of its code
of ethics to the trustees of the relevant John Hancock funds for
approval initially and within 60 calendar days of any material
amendment. The trustees will give their approval if they determine
that the code:

o  contains provisions reasonably necessary to prevent the
   subadviser's Access Persons (as defined in Rule 17j-1) from
   engaging in any conduct prohibited by Rule 17j-1;

o  requires the subadviser's Access Persons to make reports to at
   least the extent required in Rule 17j-1(d);

o  requires the subadviser to institute appropriate procedures for
   review of these reports by management or compliance personnel (as
   contemplated by Rule 17j-1(d)(3));

o  provides for notification of the subadviser's Access Persons in
   accordance with Rule 17j-1(d)(4); and

o  requires the subadviser's Access Persons who are Investment
   Personnel to obtain the pre-clearances required by Rule 17j-1(e);

Reports and Certifications

Each subadviser must provide an annual report and certification to
John Hancock Advisers, LLC and the fund's trustees in accordance with
Rule 17j-1(c)(2)(ii). The subadviser must also provide other reports
or information that John Hancock Advisers, LLC may reasonably request.

Recordkeeping Requirements

The subadviser must maintain all records for its Access Persons as
required by Rule 17j-1(f).


Appendix E: Administration and Recordkeeping

Adoption and Approval

The trustees of a John Hancock fund must approve the code of ethics of
an adviser, subadviser or affiliated principal underwriter before
initially retaining its services.

Any material change to a code of ethics of a John Hancock fund, John
Hancock Funds, LLC, John Hancock Advisers, LLC or a subadviser to a
fund must be approved by the trustees of the John Hancock fund,
including a majority of trustees who are not interested persons, no
later than six months after adoption of the material change.

Administration

No less frequently than annually, John Hancock Funds, LLC, John
Hancock Advisers, LLC, each subadviser and each John Hancock fund will
furnish to the trustees of each John Hancock fund a written report
that:

o  describes issues that arose during the previous year under the code of
   ethics or the related procedures, including, but not limited to,
   information about material code or procedure violations, and

o  certifies that each entity has adopted procedures reasonably necessary
   to prevent its access persons from violating its code of ethics.

Recordkeeping

The Investment Compliance Department will maintain:

o  a copy of the current code of ethics for John Hancock Funds, LLC,
   John Hancock Advisers, LLC, and each John Hancock fund, and a copy
   of each code of ethics in effect at any time within the past five
   years.

o  a record of any violation of the code of ethics, and of any action
   taken as a result of the violation, for six years.

o  a copy of each report made by an Access person under the code of
   ethics, for six years (the first two years in a readily accessible
   place).

o  a record of all persons, currently or within the past five years,
   who are or were required to make reports under the code of ethics.
   This record will also indicate who was responsible for reviewing
   these reports.

o  a copy of each code of ethics report to the trustees, for six years
   (the first two years in a readily accessible place).

o  a record of any decision, and the reasons supporting the decision,
   to approve the acquisition by an Investment Access person of
   initial public offering securities or private placement securities,
   for six years.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>5
<FILENAME>exnnadmincom5.txt
<DESCRIPTION>ADMINISTRATION COMMITTEE CHARTER
<TEXT>

JOHN HANCOCK FUNDS

ADMINISTRATION COMMITTEE CHARTER

A. Composition.  The Administration Committee shall be composed entirely of
Trustees who are "independent" as defined in the rules of the New York
Stock Exchange ("NYSE") and the NASDAQ Stock Market, Inc. ("NASDAQ") or any
other exchange, as applicable and are not "interested persons" as defined
in the Investment Company Act of 1940 of any of the funds, or any fund's
investment adviser or principal underwriter (the "Independent Trustees").
All of the Board's Independent Trustees shall be members of the
Administration Committee.

B. Overview.  The overall charter of the Administration Committee is:  (i)
to review and comment on complex-wide matters to facilitate uniformity
among, and administration of, the funds; (ii) to oversee liaison between
management and the Independent Trustees; (iii) to review matters relating
to the Independent Trustees, such as retirement arrangements that have not
been assigned to another committee; (iv) to review the performance of the
Independent Trustees as appropriate; and (v) when appropriate, to oversee
the assignment of tasks to other Committees.

C. 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:

1. 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.

2. To evaluate, from time to time, the retirement policies for the
Independent Trustees.

3. To participate in the development of agendas for Board and Committee
meetings.

4. 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.

5. To identify qualified individuals to serve as Chief Compliance Officer
("CCO"), and recommend an appropriate candidate to the Board, as needed
from time to time.  The Administration Committee shall assist the Board in
monitoring: (i) the performance of the CCO and (ii) the cooperation of the
adviser(s) and other service providers with the CCO, including the
requirement of regular reports by the CCO to the Administration Committee
and to the Board.  The Administration Committee shall have the power to
annually review the CCO's responsibilities and the extent of his or her
authority and to conduct annual compensation and retention review with the
CCO and make appropriate recommendations to the Board.

6. 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.

7. To evaluate feedback from shareholders as appropriate.

D. 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 at each Regular Board
meeting following a Committee meeting, as appropriate.

E. Governance.  The Chairman of the Board shall serve as the chair of the
Administration Committee.  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.

F. 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 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.

G. Review.  The Committee shall review this Charter periodically and
recommend such changes to the full Board as it deems desirable.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>6
<FILENAME>exnngovcom6.txt
<DESCRIPTION>GOVERNANCE COMMITTEE CHARTER
<TEXT>

JOHN HANCOCK FUNDS

GOVERNANCE COMMITTEE CHARTER

A. Composition.  The Governance Committee shall be composed entirely of
Trustees who are "independent" as defined in the rules of the New York
Stock Exchange ("NYSE") and the NASDAQ Stock Market, Inc. ("NASDAQ") or any
other exchange, as applicable and are not "interested persons" as defined
in the Investment Company Act of 1940 of any of the funds, or any fund's
investment adviser or principal underwriter (the "Independent Trustees").
The Chairman of the Board shall be a member of the Governance Committee.

B. Overview.  The overall charter of the Governance Committee is to make
recommendations to the Board on issues related to corporate governance
applicable to the Independent Trustees and to the composition and operation
of the Board, and to assume duties, responsibilities and functions to
nominate candidates to the Board, together with such additional duties,
responsibilities and functions as are delegated to it from time to time.

C. Specific Responsibilities.  The Governance 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:

1. Except where the Funds are legally required to provide others with the
ability to nominate Trustees, to nominate Trustees, as needed.

2. To consider, as it deems necessary or appropriate, the criteria for
persons to fill existing or newly created Trustee vacancies.  The
Governance Committee shall use the criteria and principles set forth in
Annex A to guide its Trustee selection process.

3. To consider and recommend 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 consider and recommend the duties and compensation of the Chairman of
the Board.

5. To consider and recommend changes to the Board regarding the size,
structure, and composition of the Board.

6. To consider and recommend changes to the Board's retirement policy.

7. To develop and recommend to the Board guidelines for corporate
governance ("Corporate Governance Guidelines") for the funds that take into
account the rules of the NYSE and any applicable law or regulation, and to
periodically review and assess the Corporate Governance Guidelines and
recommend any proposed changes to the Board for approval.

8. [To monitor and comment on the expenditures of the Board or the
Committees or the Independent Trustees, including, but not limited to:
legal, consulting, meeting, and D&O insurance costs; association dues; and
publication expenses.]

9. To establish policies, and arrange for and coordinate the participation
in continuing education or information programs for Trustees.

10. To periodically review the Board's committee structure and the charters
of the Board's committees, and recommend changes to the committee structure
and charters as it deems appropriate.

11. To conduct an annual self-evaluation of the Board, which will include,
at a minimum, a review of its effectiveness in overseeing the number of
funds in the fund complex and the effectiveness of its committee structure.

12. To report its activities to the full Board and to make such
recommendations with respect to the matters described above and other
matters as the Governance Committee may deem necessary or appropriate.

D. Additional Responsibilities.  The Committee will also perform other
tasks assigned to it from time to time by the Chairman or the full Board,
and will report findings and recommendations to the full Board, as
appropriate.

E. 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, and
making reports to the Administration Committee or the full Board, as
appropriate.

F. 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 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.

G. Review.  The Committee shall review this Charter periodically and
recommend such changes to the full Board as it deems desirable.

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 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.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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