News/Press Releases

FOR IMMEDIATE RELEASE
August 8, 2003

Hancock Bank to purchase Magna Insurance

GULFPORT, MS (August 8, 2003) - An agreement announced today by senior officers of Hancock Holding Company - the parent company of 104-year-old Hancock Bank - will expand the Gulfport-based company's insurance business footprint across 14 new states.

Under the terms of the agreement, Hancock will purchase Magna Insurance Company, a wholly owned subsidiary of Union Planters Corporation, Memphis, TN. Harrison Life Insurance Company, an existing Hancock subsidiary conducting business in Mississippi and Louisiana, will merge with Magna Insurance Company. The venture will enable Hancock to offer Magna products and services through Hancock Bank and other client banks across the entire southeastern United States, including Texas and Florida, and much of the Midwest. Hancock executives expect to complete the purchase by the fourth quarter of this year.

"Harrison Life Insurance Company has been an important part of the Hancock corporate structure since 1978. As Magna merges with Harrison Life, we look forward to building on that success and creating new lines of life insurance products for customers. This acquisition represents a logical, strategic step toward Hancock's corporate goal of growing as a full-service financial services company," said Hancock Holding Company Chief Financial Officer Carl J. Chaney.

Chartered in 1987, Magna Insurance Company is a well-capitalized, profitable life insurance company headquartered in Mississippi and licensed for business in 16 states, including Mississippi and Louisiana. With assets of $28.3 million, Magna is rated B++, or very good, by A.M. Best, the world's oldest and most authoritative source of insurance company ratings and information and the industry's standard measure of insurer financial performance. Magna is currently approved for business in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas, and Virginia.

Hancock Holding Company has assets over $4.0 billion. Founded 1899, Hancock Bank consistently ranks as one of America's strongest, safest five-star financial institutions. Hancock Bank operates 102 full-service offices and over 140 automated teller machines throughout South Mississippi and Louisiana as well as other subsidiaries Hancock Investment Services, Inc., Hancock Insurance Agency, Hancock Mortgage Corporation, and Harrison Finance Company. Additional corporate information and on-line banking and bill pay services are available at www.hancockbank.com.

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FOR MORE INFORMATION
Carl J. Chaney, CFO, Hancock Holding Company
Paul D. Guichet, Vice President, Investor Relations
Telephone: 1.800.522.6542 (x. 85242)