FOR IMMEDIATE RELEASE
January 5, 2004

Hancock Holding Company announces stock redemption

GULFPORT, MS (January 5, 2004) - Senior officials of Hancock Holding Company (NASDAQ: HBHC) - the parent company of 104-year-old Hancock Bank - today announced that Hancock Holding Company has elected to call for redemption all the outstanding shares of the company's 8% Cumulative Convertible Preferred Stock, Series A on February 4, 2004.

Hancock is mailing a Notice of Redemption to the holders of the company's 8% Cumulative Convertible Preferred Stock, Series A on January 5, 2004. The total redemption price, including accrued dividends to the redemption date, is $20.1511 per share. Pursuant to the terms of the Preferred Stock, the redemption is contingent on Hancock Holding Company Common Stock trading at $37.50 or above for 20 consecutive trading days beginning after January 1, 2004. The closing price of Hancock Holding Company Common Stock on January 2, 2004, was $55.87. Shareholders may convert each share of the Preferred Stock into .6666 shares of company Common Stock at any time, on or before 5:00 p.m., Central Standard Time, January 28, 2004.

Hancock Holding Company has assets of more than $4.1 billion. Founded 1899, Hancock Bank consistently ranks among the top 4.6 percent of America's financial institutions for financial stability and soundness. Hancock Bank operates 101 offices and more than 135 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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