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MARYLAND INSURANCE ADMINISTRATION

JUNE 24, 2004

I. SCOPE OF THE EXAMINATION

The target market conduct examination of the Metropolitan Life Insurance Company (referred to as “Metropolitan” or the “Company”) began at the sales office (referred to as “Agency”) located at 15215 Shady Grove Road, Rockville, Maryland 20850, and at the sales satellite office located at 8903 Presidential Parkway, Upper Marlboro, Maryland. The examination continued with an extensive review of policy records at the Home Office of Metropolitan, One Madison Avenue, New York, New York 10010, March 18, through April 27, 2001. The examination was conducted pursuant, but not limited to §2-205 and §2-206 of the Insurance Article of the Annotated Code of Maryland. The examination survey period was January 1, 1998 through October 31, 2000. The Company is licensed in all states.

Purpose

The purpose of the target examination was to determine compliance by the Company with Maryland insurance statues, rules and regulations. Additionally, it was to determine if the Company’s operations were consistent with the public interest.

Specifically, based on complaints received by the Maryland Insurance Administration (referred to as “Administration” or “MIA”) it appeared that the Company’s Maryland licensed sales representatives (agents) were misrepresenting Company products, illegally replacing existing insurance policies, and writing inappropriate products to obtain commissions.

Recently, several insurance companies including Metropolitan experienced fines and class action lawsuits as a result of their agent activity. It is the intent of the MIA to identify any offending agent, and curb his/her illicit activities through the monitoring of sales activity, education, fines, and/or license suspension or revocation to protect Maryland citizens.

Certain unacceptable or non-compliant practices of the Company or its agents may not be germane to this target market conduct examination, or may not have been discovered or confirmed in the course of this examination. Failure to identify or criticize any such practices in this report does not constitute their acceptance by the MIA.

_____________________________________________________________________________________________

MET LIFE REPORT NO. 786-01

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