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Exhibit 99.1
Contacts: For Media: Kevin Foley or Holly Sheffer
212-578-4132 212-578-4072
[email protected] [email protected]
For Investors: Eric Steigerwalt
212-578-8670
[email protected]
MEDIA ADVISORY:
New York, December 7, 2000 -- Yesterday, in a question and answer session
during MetLife, Inc.'s [NYSE:MET] investor conference, the company incorrectly
indicated that it expected to capitalize approximately $70 million of its
Information Technology expenses in 2001. The company expects to capitalize
approximately $150 million of its IT expenses in 2001. This correction does not
impact other numbers given during the conference.
# # #
This release contains statements which constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995,
including statements relating to trends in the company's operations and
financial results and the business and the products of the company, as well as
other statements including words such as "anticipate", "believe", "plan",
"estimate","expect", "intend" and other similar expressions. Forward-looking
statements are made based upon management's current expectations and beliefs
concerning future developments and their potential effects on the company. Such
forward-looking statements are not guarantees of future performance.
Actual results may differ materially from those included in the forward-looking
statements as a result of risks and uncertainties including, but not limited to
the following: (i) changes in general economic conditions, including the
performance of financial markets and interest rates; (ii) heightened
competition, including with respect to pricing, entry of new competitors and the
development of new products by new and existing competitors; (iii) the company's
primary reliance, as a holding company, on dividends from its subsidiaries to
meet debt payment obligations and the applicable regulatory restrictions on the
ability of the subsidiaries to pay such dividends; (iv) catastrophe losses; (v)
regulatory, accounting or tax changes that may affect the cost of, or demand
for, the company's products or services; (vi) downgrades in the company's
affiliates' claims paying ability or financial strength ratings; (vii)
discrepancies between actual claims experience and assumptions used in setting
prices for the company's products and establishing the liabilities for the
company's obligations for future policy benefits and claims; (viii) adverse
litigation or arbitration results and (ix) other risks and uncertainties
described from time to time in the company's filings with the Securities and
Exchange Commission, including its S-1 registration statements. The company
specifically disclaims any obligation to update or revise any forward-looking
statement, whether as a result of new information, future developments or
otherwise.
