MetLife Announces Strong 2003 Stable Value Sales; Stable Value Products Offer Safety and Stability By Preserving Principal And Accumulated Earnings.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 16, 2004

MetLife, Inc. (NYSE: MET), a leading provider of stable value solutions, announced today that it continued to grow its stable value business and ended 2003 with nearly $19 billion in combined stable value assets under management and in wrap agreements. This represents an increase of $1.5 billion over year-end 2002.

Stable value products seek to preserve principal, and in this respect are similar to money market funds. However, stable value has historically offered considerably higher returns and are comparable to high-quality, intermediate term bonds, but with lower volatility.

"Investors continue to look for ways to keep their portfolio value stable while still earning attractive returns. One way to do so is to include investments that are by design less volatile than stocks and bonds -- that is, investments less likely to have sharp swings in value from day to day," said Sherif Zakhary, vice president, MetLife Retirement & Savings.

"MetLife is pleased to see these strong results. With our financial strength, diversified portfolio, and commitment to this business, we will continue to be a leader and innovator in the stable value market," added Zakhary.

For almost thirty years, MetLife has offered a wide range of stable value solutions to plan sponsors and stable value intermediaries, combining flexibility, innovation and expertise.

MetLife, Inc., through its subsidiaries and affiliates, is a leading provider of insurance and other financial services to individual and institutional customers. The MetLife companies serve individuals in approximately 13 million households in the U.S. and provide benefits to 37 million employees and family members through their plan sponsors. Outside the U.S., the MetLife companies have insurance operations in 10 countries serving approximately 8 million customers.