<PAGE>
REGISTRATION NO. 2-95019
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
------------
POST-EFFECTIVE AMENDMENT No. 16
To
FORM S-6
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
------------
METROPOLITAN TOWER SEPARATE ACCOUNT TWO
(EXACT NAME OF TRUST)
METROPOLITAN TOWER LIFE INSURANCE COMPANY
(NAME OF DEPOSITOR)
1 Madison Avenue
New York, New York 10010
(COMPLETE ADDRESS OF DEPOSITOR'S PRINCIPAL EXECUTIVE OFFICES)
------------
RICHARD G. MANDEL, ESQ.
Vice-President
Metropolitan Tower Life Insurance Company
1 Madison Avenue
New York, New York 10010
(NAME AND COMPLETE ADDRESS OF AGENT FOR SERVICE)
------------
Copy to:
GARY O. COHEN, ESQ., and TOM LAUERMAN, ESQ.
Freedman, Levy, Kroll & Simonds
1050 Connecticut Avenue, N.W.
Washington, D.C. 20036
----------------
It is proposed that the filing will become effective (check appropriate box)
[_] immediately upon filing pursuant to paragraph (b) of Rule
485
[X] on May 2, 1997 pursuant to paragraph (b) of Rule 485
[_] 60 days after filing pursuant to paragraph (a) of Rule 485
[_] on (date), pursuant to paragraph (a) of Rule 485
------------
This filing is made pursuant to Rule 6c-3 and 6e-3(T) under the Investment
Company Act of 1940 to register interests in Metropolitan Tower Separate
Account Two which funds variable universal life insurance policies.
Pursuant to Rule 24f-2 under the Investment Company Act of 1940, the
Registrant has registered an indefinite amount of securities. The Registrant's
Rule 24f-2 Notice was filed with the Commission on February 27, 1997.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
The purpose of this Amendment is solely to correct typographical and
clerical errors on the facing sheet and in part II of Post-Effective Amendment
No. 15 to this Registration Statement. This Amendment does not delete or revise
any other material in the Registration Statement, including the prospectus and
prospectus supplement contained in Post-Effective Amendment No. 15, which are
incorporated herein by this reference.
<PAGE>
PART II
CONTENTS OF REGISTRATION STATEMENT
REPRESENTATION WITH RESPECT TO FEES AND CHARGES
Metropolitan Tower represents that the fees and charges deducted under the
Policies described in this amended Registration Statement, in the aggregate,
are reasonable in relation to the services rendered, the expenses to be
incurred, and the risks assumed by Metropolitan Tower under the Policies.
Metropolitan Tower bases its representation on its assessment of all of the
facts and circumstances, including such relevant factors as: the nature and
extent of such services, expenses and risks, the need for Metropolitan Tower to
earn a profit, the degree to which the Policies include innovative features,
and regulatory standards for exemptive relief under the Investment Company Act
of 1940 used prior to October 1996, including the range of industry practice.
This amended Registration Statement comprises the following papers and
documents:
The facing sheet.
Cross-Reference Table.
The Supplement to the Prospectus, consisting of 29 pages.
The Prospectus, consisting of 78 pages.
Undertaking to File Reports, as filed with Pre-Effective Amendment No. 2 to
this Registration Statement on November 27, 1985.
Undertaking pursuant to Rule 484(b)(1) under the Securities Act of 1933, as
filed with Pre-Effective Amendment No. 2 to this Registration Statement on
November 27, 1985.
Representation with respect to fees and charges filed herewith.
The signatures.
Written Consents of the following persons:
Anthony E. Amodeo (filed with Exhibit 6 below).
Deloitte & Touche LLP.
Freedman, Levy, Kroll & Simonds, as filed with Pre-Effective Amendment
No. 2 to this Registration Statement on November 27, 1985.
The following exhibits:
1.A (1) --Resolution of Board of Directors of Metropolitan Tower
effecting the establishment of Metropolitan Tower
Separate Account Two........................................*
(2) --Not Applicable
(3) --(a)Amended and Re-stated Sales and Administrative
Services Agreement between Metropolitan Life
and Metropolitan Tower................................ oo
--(b)Form of Selected Broker Agreement..................... oo
--(c)Schedule of sales commissions......................... ooooo
(4) --Not Applicable
(5) --(a)Specimen Flexible Premium Multifunded Life Insurance
Policy (including alternate pages as required by state
law) with form of riders
--(b)Amended Specimen Flexible Premium Multifunded Life
Insurance Policy......................................**
--(c)Additional Exchange Right Provision Rider.............***
--(d)New York Endorsement to Flexible Premium Multifunded
Life Insurance Policy.................................****
II-1
<PAGE>
--(e)Texas Endorsement to Flexible Premium
Multifunded Life Insurance Policy..............*****
--(f)Additional alternate pages required
by state law...................................oooo
--(g)Additional alternate pages required by state
law............................................ooooo
--(h)Riders for Accelerated Death Benefit...........+++
(6) --(a)Certificate of Incorporation of Metro-
politan Tower..................................*
--(b)By-laws of Metropolitan Tower..................*
(7) --Not Applicable
(8) --Agreement dated June 3, 1982 between
Metropolitan Life and Metropolitan Tower..........*
(9) --Not Applicable
(10) --Revised Application Form for Flexible Pre-
mium Multifunded Life Insurance Policy and
Form of Receipt and Temporary Insurance
Agreement.........................................***
2. --See Exhibit 1.A(5) above
3. --Opinion and consent of Counsel as to the
legality of the securities being registered.......***
4. --Not Applicable
5. --Not Applicable
6. --Opinion and consent of Anthony E. Amodeo..........++++
8. --Powers of Attorney................................ o
9. --Method of Computing Exchange pursuant toRule 6e-
3(T)(b)(13)(v)(B) under the Investment Company
Act of 1940 (not required because there will be no
cash value adjustments)
11. --(a) Memorandum describing certain issu-
ance procedures filed pursuant to Rule 6e-
3(T)(b)(12)(iii)............................... ooo
--(b) Second memorandum describing certain
procedures filed pursuant to Rule 6e-
3(T)(b)(12)(iii)...............................ooooo
--(c) Additional memoranda describing certain
procedures filed pursuant to Rule 6e-
3(T)(b)(12)(iii)............................... ++
27. --Financial Data Schedule............................ +
- --------
+ Filed herewith.
* Incorporated by reference to the initial filing of this Registration
Statement on December 21, 1984.
** Incorporated by reference to the filing of Pre-Effective Amendment No. 1
to this Registration Statement on September 5, 1985.
*** Incorporated by reference to the filing of Pre-Effective Amendment No. 2
to this Registration Statement on November 27, 1985.
II-2
<PAGE>
**** Incorporated by reference to the filing of Post-Effective Amendment No.
2 to this Registration Statement on July 9, 1986.
***** Incorporated by reference to the filing of Post-Effective Amendment No.
4 to this Registration Statement on October 31, 1986.
o A Power of Attorney for Alan E. Lazarescu was filed with the filing of
Post-Effective Amendment No. 12 to this Registration Statement on April
3, 1992. Powers of Attorney for Anthony E. Amodeo and Harold B. Leff
were filed with this Post-Effective Amendment No. 14 to the Registration
Statement. Powers of Attorney for David A. Levene, Susan M. Ende,
Pauline Wittenberg and Stanley Saunders were filed with the filing of
Post-Effective Amendment No. 15 to the Registration Statement on April
30, 1997.
oo Incorporated by reference to the filing of Pre-Effective Amendment No. 1
to this Registration Statement of Separate Account Two (File No. 33-
12302) on June 3, 1987.
ooo Incorporated by reference to the filing of Post-Effective Amendment No. 7
to this Registration Statement on December 21, 1987.
oooo Incorporated by reference to the filing of Post-Effective Amendment No. 8
to this Registration Statement on March 28, 1988.
ooooo Incorporated by reference to the filing of Post-Effective Amendment No. 9
to this Registration Statement on March 1, 1989.
++ Incorporated by reference to the filing of Post-Effective Amendment No.
10 to this Registration Statement on April 26, 1990.
+++ Incorporated by reference to the filing of Post-Effective Amendment No.
11 to this Registration Statement on March 1, 1991.
++++ Incorporated by reference to the filing of Post-Effective Amendment No.
14 to this Registration Statement on April 22, 1994.
II-3
<PAGE>
SIGNATURES
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES ACT OF 1933, METROPOLITAN
TOWER LIFE INSURANCE COMPANY CERTIFIES THAT IT MEETS ALL OF THE REQUIREMENTS
FOR EFFECTIVENESS OF THIS AMENDED REGISTRATION STATEMENT PURSUANT TO RULE
485(b) UNDER THE SECURITIES ACT OF 1933 AND HAS DULY CAUSED THIS AMENDED
REGISTRATION STATEMENT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED THEREUNTO
DULY AUTHORIZED, AND ITS SEAL TO BE HEREUNTO AFFIXED AND ATTESTED, ALL IN THE
CITY OF NEW YORK, STATE OF NEW YORK, THIS 2ND DAY OF MAY, 1997.
METROPOLITAN TOWER LIFE INSURANCE
COMPANY
(Seal)
/s/ Richard G. Mandel
By: ________________________________
RICHARD G. MANDEL, ESQ.
VICE-PRESIDENT
/s/ Robin Wagner, Esq.
Attest: _____________________________
ROBIN WAGNER, ESQ.
ASSISTANT SECRETARY
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES ACT OF 1933, THIS AMENDED
REGISTRATION STATEMENT HAS BEEN SIGNED BELOW BY THE FOLLOWING PERSONS IN THE
CAPACITIES AND ON THE DATES INDICATED.
SIGNATURE AND TITLE
* /s/ David A. Levene
- -------------------------------------
David A. Levene
Chairman of the Board, President and
Chief Executive Officer
* /s/ Anthony E. Amodeo
- -------------------------------------
Anthony E. Amodeo
Director
* /s/ Susan M. Ende
- -------------------------------------
Susan M. Ende
Director
* /s/ Harold B. Leff
- -------------------------------------
Harold B. Leff
Director
* /s/ Alan E. Lazarescu
- -------------------------------------
Alan E. Lazarescu
Director
* /s/ Pauline Wittenberg
- -------------------------------------
Pauline Wittenberg
Director
* /s/ Stanley Saunders
- -------------------------------------
Stanley Saunders
Vice-President and Controller
(Principal Financial and Accounting
Officer)
/s/ Christopher P. Nicholas, Esq.
*By _________________________________ May 2, 1997
Christopher P. Nicholas, Esq.
ATTORNEY-IN-FACT
II-4
<PAGE>
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES ACT OF 1933, THE REGISTRANT,
METROPOLITAN TOWER SEPARATE ACCOUNT TWO CERTIFIES THAT IT MEETS ALL OF THE
REQUIREMENTS FOR EFFECTIVENESS OF THIS AMENDED REGISTRATION STATEMENT PURSUANT
TO RULE 485(B) UNDER THE SECURITIES ACT OF 1933 AND HAS DULY CAUSED THIS
AMENDED REGISTRATION STATEMENT TO BE SIGNED, ON ITS BEHALF BY THE UNDERSIGNED
THEREUNTO DULY AUTHORIZED, AND ITS SEAL TO BE HEREUNTO AFFIXED AND ATTESTED,
ALL IN THE CITY OF NEW YORK, STATE OF NEW YORK THIS 2ND DAY OF MAY, 1997.
METROPOLITAN TOWER SEPARATE ACCOUNT
TWO
(REGISTRANT)
By: METROPOLITAN TOWER LIFE
INSURANCE COMPANY
(DEPOSITOR)
(Seal)
/s/ Richard G. Mandel
By: ______________________________
RICHARD G. MANDEL, ESQ.
VICE-PRESIDENT
/s/ Robin Wagner, Esq.
Attest: _____________________________
ROBIN WAGNER, ESQ.
ASSISTANT SECRETARY
II-5
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM METROPOLITAN
TOWER LIFE SEPARATE ACCOUNT TWO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> GROWTH
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 26,082,049
<INVESTMENTS-AT-VALUE> 36,157,867
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 20,090
<TOTAL-ASSETS> 36,177,957
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 72,249
<TOTAL-LIABILITIES> 72,249
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 1,185,115
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 36,105,708
<DIVIDEND-INCOME> 3,437,586
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 263,040
<NET-INVESTMENT-INCOME> 3,174,546
<REALIZED-GAINS-CURRENT> 810,822
<APPREC-INCREASE-CURRENT> 2,410,203
<NET-CHANGE-FROM-OPS> 5,819,763
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,819,763
<ACCUMULATED-NII-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM METROPOLITAN
TOWER LIFE SEPARATE ACCOUNT TWO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> INCOME
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 4,760,958
<INVESTMENTS-AT-VALUE> 4,889,480
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2,332
<TOTAL-ASSETS> 4,891,812
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36,534
<TOTAL-LIABILITIES> 36,534
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 395,589
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,855,278
<DIVIDEND-INCOME> 308,397
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 87,271
<NET-INVESTMENT-INCOME> 271,128
<REALIZED-GAINS-CURRENT> 42,671
<APPREC-INCREASE-CURRENT> (180,569)
<NET-CHANGE-FROM-OPS> 133,328
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (117,688)
<ACCUMULATED-NII-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM METROPOLITAN
TOWER LIFE SEPARATE ACCOUNT TWO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> MONEY MARKET
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1,446,568
<INVESTMENTS-AT-VALUE> 1,415,385
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 9
<TOTAL-ASSETS> 1,415,394
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26,606
<TOTAL-LIABILITIES> 26,606
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 135,628
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,388,788
<DIVIDEND-INCOME> 69,320
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 10,866
<NET-INVESTMENT-INCOME> 58,454
<REALIZED-GAINS-CURRENT> (5,156)
<APPREC-INCREASE-CURRENT> 5,113
<NET-CHANGE-FROM-OPS> 58,411
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (12,849)
<ACCUMULATED-NII-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM METROPOLITAN
TOWER LIFE SEPARATE ACCOUNT TWO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> DIVERSIFIED
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 50,313,451
<INVESTMENTS-AT-VALUE> 63,812,728
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 17,072
<TOTAL-ASSETS> 63,829,800
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,072
<TOTAL-LIABILITIES> 17,072
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 3,827,998
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 63,324,887
<DIVIDEND-INCOME> 5,629,752
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 462,651
<NET-INVESTMENT-INCOME> 5,167,071
<REALIZED-GAINS-CURRENT> 1,151,621
<APPREC-INCREASE-CURRENT> 1,469,562
<NET-CHANGE-FROM-OPS> 7,788,854
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,432,252
<ACCUMULATED-NII-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM METROPOLITAN
TOWER LIFE SEPARATE ACCOUNT TWO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> AGGR. GROWTH
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 3,444,411
<INVESTMENTS-AT-VALUE> 3,662,608
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 9,650
<TOTAL-ASSETS> 3,672,258
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 41,337
<TOTAL-LIABILITIES> 41,337
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 135,301
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,630,921
<DIVIDEND-INCOME> 97,108
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 23,929
<NET-INVESTMENT-INCOME> 73,179
<REALIZED-GAINS-CURRENT> 23,432
<APPREC-INCREASE-CURRENT> 63,281
<NET-CHANGE-FROM-OPS> 159,892
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,066,409
<ACCUMULATED-NII-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM METROPOLITAN
TOWER LIFE SEPARATE ACCOUNT TWO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> STOCK INDEX
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 861,878
<INVESTMENTS-AT-VALUE> 1,007,408
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2,443
<TOTAL-ASSETS> 1,009,851
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,460
<TOTAL-LIABILITIES> 9,460
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 45,318
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,000,391
<DIVIDEND-INCOME> 23,374
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 5,076
<NET-INVESTMENT-INCOME> 18,248
<REALIZED-GAINS-CURRENT> 13,140
<APPREC-INCREASE-CURRENT> 102,220
<NET-CHANGE-FROM-OPS> 133,658
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 669,809
<ACCUMULATED-NII-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM METROPOLITAN
TOWER LIFE SEPARATE ACCOUNT TWO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 7
<NAME> INT'L STOCK
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1,002,950
<INVESTMENTS-AT-VALUE> 934,227
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 3,813
<TOTAL-ASSETS> 938,040
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,741
<TOTAL-LIABILITIES> 7,741
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 78,178
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 930,299
<DIVIDEND-INCOME> 9,586
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 6,977
<NET-INVESTMENT-INCOME> 2,609
<REALIZED-GAINS-CURRENT> (5,525)
<APPREC-INCREASE-CURRENT> (20,777)
<NET-CHANGE-FROM-OPS> (23,693)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 28,701
<ACCUMULATED-NII-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
