A.M. Best Affirms Ratings of MetLife, Inc and Its Affiliates; Revises Outlook to Stable.

OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of "aa" of Metropolitan Life Insurance Company (MLIC) and its key life/health affiliates. MLIC is the primary insurance company of MetLife, Inc (MetLife) (both of New York, NY) (NYSE: MET). Concurrently, A.M. Best has affirmed the ICR of "a" and debt ratings of MetLife. The outlook for the FSR is stable, while the outlook for the ICRs has been revised to stable from negative. (See link below for a detailed list of companies and ratings.)

A.M. Best has also affirmed the FSR of A (Excellent) and ICRs of "a+" of the eight fully reinsured companies in MetLife Auto and Home's business unit led by Metropolitan Property and Casualty Insurance Company (both of Rhode Island). The outlook for these ratings is stable.

Additionally, A.M. Best has affirmed the FSR of A (Excellent) and ICR of "a+" of Texas Life Insurance Company (Texas). The outlook for the FSR is stable, while the outlook for the ICR has been revised to stable from negative.

A.M. Best has also assigned a debt rating of "aa" to MetLife Institutional Funding I, LLC, on its recently announced $3 billion euro medium-term notes (EMTN) program. The rating outlook is stable.

These ratings reflect MetLife's diverse business mix, prominent market position in several business lines, strong financial discipline and favorable operating results. These strengths are enhanced by the significant financial flexibility, diverse sources of revenues and earnings and the global market presence of MetLife.

The revised outlook reflects MetLife's ability to integrate the Travelers organization in a relatively short period of time. With the proceeds from the divestiture of some high profile real estate assets and given some equity credit for its hybrid securities, MetLife has been able to manage its financial leverage position to roughly 26% at year end 2006, down from the approximate 30% at the time of the Travelers acquisition, which is in line with A.M. Best's expectations. MetLife maintains strong fixed charge coverage and a strong liquidity profile. A.M. Best notes that MetLife's financial leverage and interest coverage ratios are within expectations for its current ratings.

Partially offsetting these rating strengths is MetLife's challenge to expand revenue growth domestically; the increased competition within its foreign insurance markets; and an expectation of more aggressive capital management and capital redeployment strategies, which is a concern since its risk-adjusted capital position as measured by A.M. Best is somewhat low for its ratings. A.M. Best expects MetLife will continue to further enhance and refine its enterprise risk management practices.

The ratings of MetLife Auto & Home reflect its solid capitalization, consistent operating performance, strong enterprise risk management practices and successful multiple-channel distribution network. Partially offsetting these positive rating factors are the elevated tolerances directly co-related to the MetLife Auto & Home's exposure to weather-related events.

The rating outlook is based on the group's capital strength, favorable operating trends and the financial strength of MetLife.

For a complete listing of MetLife, Inc.'s FSRs, ICRs and debt ratings, please visit www.ambest.com/press/052906metlife.pdf.

Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com.