MetLife Acquires TIAA-Cref's LTCI Business:

As has been predicted, we are seeing more consolidation in the LTCI marketplace. Ultimately, there will be more protection for policyholders and economies of scale. Here's the latest:

NEW YORK, November 20, 2003 - MetLife, Inc. (NYSE: MET) and TIAA-CREF announced today that Metropolitan Life Insurance Company ("MetLife") has agreed to purchase TIAA-CREF's long-term care insurance business.  The
transaction is expected to close in 2004, subject to regulatory approval. Terms of the acquisition were not disclosed.

"MetLife continues to demonstrate its commitment to the long-term care insurance industry at a time when Americans are increasingly recognizing the value and importance of protecting themselves and their families
against the costs of long-term care services.   This acquisition will further strengthen the company's market position, particularly in the individual long-term care insurance area," said C. Robert Henrikson, president of MetLife's U.S. Insurance and Financial Services businesses. "MetLife has the expertise and experience to ensure a smooth transition for TIAA-CREF customers."

"While long-term care insurance is an important part of planning for a financially secure retirement, we have decided it's smart to exit the business now, given the scale needed to operate efficiently and to compete effectively," said Bert Scott, executive vice president for Product Management at TIAA-CREF.  "We chose MetLife because of its strong position in the long-term care insurance industry and ability to provide a quality product to our policyholders.  While we are no longer going to manufacture our own long-term care insurance product, we may in the future offer a nonproprietary product consistent with our continuing commitment to helping our customers achieve financial security."

This transaction will have no material impact on MetLife's 2003 or 2004 net income and operating earnings.

About TIAA-CREF

TIAA-CREF, with over $290 billion in assets under management, is a national financial services leader and the premier retirement system for higher education and research employees.  Further information can be found at
www.tiaa-cref.org.

About MetLife

MetLife is a leading provider of long-term care insurance to individuals and groups.  MetLife offers group long-term care insurance plans to many of the Fortune 500 companies and individual long term care products through
agents and brokerage distribution channels.  MetLife is also the joint provider along with John Hancock Life Insurance Company of the Federal Long-Term Care Insurance Program.

MetLife, Inc., (NYSE: MET) through its subsidiaries and affiliates, is a leading provider of insurance and other financial services to individual and institutional customers.  The MetLife companies serve approximately 12
million individuals in the U.S. and provide benefits to 37 million employees and family members through their plan sponsors.  It also has international insurance operations in 12 countries, serving approximately 8 million customers.