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| MetLife, Inc. |
| One Madison Avenue, New York, NY 10010 * (212) 578-2211 |
| Business Description | The company is a leading provider of insurance and financial services to a broad spectrum of individual and institutional customers. The company currently provides individual insurance, annuities and investment products to approximately nine million households, or one of every eleven households in the U.S. |
| Offering Information Company has | |||
| Trading As | MET (NYSE) | Industry | Financial (SIC 6719) |
| Type of Stock Offered | Common Shares | Filing Date | 11/22/99 |
| Domestic Shares Offered | 202,000,000 | Offer Date | 4/4/00 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 202,000,000 | Offer Price | $14.25 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.640 |
| Gross Proceeds | $2,878,500,000 | Selling | $0.400 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 831,000,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Conning & Company | Co-manager | (860) 527-1131 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Fox-Pitt, Kelton, Inc. | Co-manager | (212) 687-1105 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| J.P. Morgan & Co. | Co-manager | (212) 648-0517 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Utendahl Capital Partners LP | Co-manager | |
| Warburg Dillon Read LLC | Co-manager | (203) 719-3000 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/94 | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 |
| Revenues | 19,665.000 | 21,869.000 | 23,043.000 | 24,465.000 | 27,077.000 | 19,810.000 | 18,353.000 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | 114.000 | 699.000 | 853.000 | 1,203.000 | 1,343.000 | 1,473.000 | 351.000 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | 11.21 | 5.37 | 6.17 | 10.676 | -7.35 | ||
| Net Income Growth (%) | 513.16 | 22.03 | 41.03 | 11.64 | -76.17 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | 0.58 | 3.20 | 3.70 | 4.92 | 4.96 | 1.91 | 7.44 |
| Cash Flow - Oper. | 841.00 | - | - | ||||
| Cash Flow - Inv. | 2,683.00 | - | - | ||||
| Cash Flow - Fin. | -3,134.00 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 227,166.00 | Current Assets | - | Current Ratio | - |
| Total Liab. | 213,609.00 | Current Liab. | - | Debt Ratio | 94.03% |
| Total Equity | 13,557.00 | Working Cap. | - | Debt to Equity Ratio | 15.76 |
| Cash | - | Return on Assets | 0.15% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to reimburse Metropolitan Life Insurance Company for the crediting of policy credits; to reimburse for the payment of cash to certain policyholders in the demutualization; for the payment of the fees and expenses incurred in connection with the demutualization; for working capital, payment of dividends and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Debevoise & Plimpton |
| Bank's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Deloitte & Touche |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| MetLife Policyholder Trust | 100.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||