Fitch Rates MetLife's Common Equity Units 'A-'.

CHICAGO -- Fitch Ratings has assigned an 'A-' rating to MetLife, Inc.'s (NYSE:MET) new issuance of $1.8 billion of common equity units. Fitch has also affirmed MET's 'A' long-term issuer rating and the ratings on all the company's outstanding debt. The Rating Outlook is Stable. See below for a complete listing of all ratings. E[acute accent]Fitch expects that the net proceeds of the notes will be used to fund a portion of the purchase price of MET's proposed acquisition of Citigroup's life insurance and annuities business. Pro forma long-term debt-to-capitalization is expected to increase to approximately 30% as MET completes raising additional capital needed to fund the acquisition of the Citigroup business, which is expected to close about July 1, 2005. E[acute accent]The common equity units consist of a beneficial ownership interest in two series of trust preferred securities, Series A and B, issued by MetLife Capital Trust II and MetLife Capital Trust III and a stock purchase contract. Fitch considers the units to be synthetic mandatory convertible securities and has assigned 80% equity-credit for purposes of financial leverage calculations. Based on the provisions of stock purchase agreements, the earliest possible remarketing date is Aug. 15, 2008 for the Series A securities and Feb. 15, 2009 for the Series B securities. E[acute accent]MET is a holding company and through its subsidiaries and affiliates is a leading provider of insurance and other financial services to individuals and institutional customers.

E[acute accent]Fitch has assigned the following new ratings:

E[acute accent]MetLife Capital Trust II

E[acute accent]-- Common Equity Units 'A-'.

E[acute accent]MetLife Capital Trust III

E[acute accent]-- Common Equity Units 'A-'.

E[acute accent]Fitch also affirms the following ratings with a Stable Outlook:

E[acute accent]MetLife, Inc.

E[acute accent]-- Floating-rate preferred stock, series A 'A-';

E[acute accent]-- Fixed-rate preferred stock series B 'A-';

E[acute accent]-- Long-term issue 'A';

E[acute accent]-- 3.911% senior debentures due May 2005 'A';

E[acute accent]-- 5.25% senior notes due December 2006 'A';

E[acute accent]-- 6.125% senior notes due December 2011 'A';

E[acute accent]-- 5.375% senior notes due December 2012 'A';

E[acute accent]-- 5% senior notes due November 2013 'A';

E[acute accent]-- 5.5% senior notes due June 2014 'A';

E[acute accent]-- 5.375% senior notes due December 2024 'A';

E[acute accent]-- 6.50% senior notes due December 2032 'A';

E[acute accent]-- 5.875% senior notes due November 2033 'A';

E[acute accent]-- 6.375% senior notes due June 2034 'A'.

E[acute accent]-- Short-term 'F1';

E[acute accent]-- Commercial paper 'F1'.

E[acute accent]Fitch's rating definitions are available on the agency's public web site, www.fitchratings.com. Published ratings, criteria and methodologies, and relevant policies and procedures are also available from this site, at all times. This document will remain on the public site for seven days.