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METROPOLITAN SERIES FUND, INC.
SUPPLEMENT DATED January 24, 2000
To
PROSPECTUS DATED April 30, 1999
The following information supplements the Metropolitan Series Fund
Prospectus dated April 30, 1999. You should keep this Supplement to the
Prospectus for future reference.
o Change in the portfolio manager for the State Street Research Income
Portfolio: The paragraph under "About The Investment Managers - State
Street Research Income Portfolio" on page 16 of the Prospectus is
changed to read as follows:
"John H. Kallis, a Senior Vice President at State Street Research who
joined the firm in 1987, is the portfolio manager for the Portfolio and
has been primarily responsible for its day-to-day management since
January 2000."
New sub-investment manager for the Santander International Stock
Portfolio:
The Fund was notified by Santander Global Advisors, Inc. ("Santander"),
the sub-investment manager for the Santander International Stock
Portfolio, that it would no longer be able to manage the Portfolio as
of January 28, 2000. On January 11, 2000, the Board of Directors of the
Fund voted to terminate the sub-investment management agreement with
Santander effective no later than January 24, 2000. The Board also
voted, subject to approval by the shareholders of the Portfolio at a
special meeting of such shareholders to be held on March 31, 2000, to
retain Putnam Investment Management, Inc. ("Putnam") as the new
sub-investment manager effective the date of termination of Santander.
The investment objectives and practices of the Portfolio remain the
same. All references to the "Santander International Stock Portfolio"
in the Prospectus should be changed to "Putnam International Stock
Portfolio." The Fund has been informed that the Insurance Companies (as
defined in the Prospectus) may temporarily continue to refer to the
"Santander International Stock Portfolio" in their forms and
communications with Contract owners and prospective Contract owners
until they are able to revise such documents.
The paragraph entitled "Principal investment strategies:" under the
heading "About the Santander International Stock Portfolio" on page 4
of the prospectus is changed to read as follows:
"The Portfolio normally invests mostly in the common stocks of
companies outside the United States. The portfolio manager selects
countries and industries it believes are attractive. The portfolio
manager then seeks stocks offering opportunity for gain. These may
include both growth and value stocks. The Portfolio invests mainly in
mid-sized and large companies, although the Portfolio can invest in
companies of any size. The Portfolio will usually be invested in
issuers located in at least three countries, not including the U.S.
Under normal conditions, the Portfolio will not invest more than 15% of
its net assets in the
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equity securities of companies domiciled in "emerging countries," as
defined by Morgan Stanley Capital International."
The paragraph entitled "Principal risks:" under the heading "About the
Santander International Stock Portfolio" on page 4 of the prospectus is
changed by adding the caption "Value investing;" after the caption
"Investing in securities of foreign issuers."
The next to last paragraph under "About The Investment Managers" on
page 16 of the Prospectus is changed to read as follows:
"Putnam Investment Management, Inc. ("Putnam") is the sub-investment
manager of the Putnam International Stock Portfolio since January 24,
2000. Putnam, a Massachusetts corporation, has managed mutual funds
since 1937. As of December 31, 1999, Putnam and its affiliates managed
in excess of $391 billion of retail and institutional investors
worldwide. All of the outstanding voting and nonvoting securities of
Putnam are held of record by Putnam Investments, Inc., which is, in
turn, except for a minority interest owned by employees, owned by Marsh
& McLennan Companies, Inc., an NYSE listed public company whose
business is insurance brokerage, investment management and consulting."
The last paragraph under "About The Investment Managers" on page 16 of
the Prospectus is changed to read as follows:
"The Portfolio is managed by Putnam's Core International team, with
Omid Kamshad, Managing Director, as the lead manager. Mr. Kamshad has
been employed by Putnam since 1996. Prior to 1996, Mr. Kamshad was
employed at Lombard Odier International Portfolio Management Limited.
Prior to April 1995, he was employed at Baring Asset Management
Company. He also has portfolio management responsibilities on the
Putnam teams that manage European Core, Global Core, and Core
International Small Cap institutional portfolios."
