MetLife Originates Nearly $3 Billion in Agricultural Mortgages in 2010

NEW YORK--(BUSINESS WIRE)-- MetLife, Inc. (NYSE: MET) announced today that it originated nearly $3 billion in agricultural loans in 2010, up from the more than $1.5 billion the company lent in 2009. MetLife, through its agricultural investments unit, provides mortgage loans on farms, ranches, timberland and agribusiness facilities throughout the United States.

“MetLife continued to remain an active lender in 2010, as we worked with a variety of clients to assist with their long-term financial needs,” said Robert Merck, senior managing director and head of agricultural investments for MetLife. “MetLife’s loan activity in 2010 demonstrates our commitment to serving the agricultural community. For more than 90 years, we have been a trusted name in agricultural lending, and we look forward to continuing to provide our customers with the high level of expertise and service they have come to expect from MetLife.”

MetLife’s agricultural investments unit completed numerous high-quality transactions last year, including:

Paramount Farming - Kern County, CA

• $235 million first mortgage, 10-year fixed-rate loan
• Secured by almond and pistachio orchards in the southern San Joaquin Valley of California
• Paramount is the largest almond and pistachio grower in the U.S.

Anderson Tully Company and Subsidiaries - Memphis, TN

• $84 million senior secured, 10-year fixed-rate loan
• Secured by timberlands located along the Mississippi River in Arkansas, Louisiana, Mississippi and Tennessee
• Stands are primarily hardwood and consist of well distributed age classifications

L. Wilson and Company, LLC - Wilson, AR

• $75 million first mortgage, 15 year fixed rate loan
• Secured by farmland located in Mississippi County, Arkansas
• Company is owned by Mr. Gaylon Lawrence, Sr. and Mr. Gaylon Lawrence, Jr.

W. P. Carey non-traded REIT Affiliate CPA^®:17 – Global – New York, NY

• $27 million first mortgage, 10 year fixed rate loan
• Secured by cold storage facilities in Georgia
• $53.7 million first mortgage, 10 year fixed rate loan
• Secured by cold storage facilities in California
• W. P. Carey is a leading investment management company

Koch Foods – Park Ridge, IL

• $10 million and $15 million first mortgage, 10 year fixed rate loans
• Secured by feed mill facility in Mississippi
• Koch Foods is a leading provider of poultry products

“We remain optimistic that 2011 will be another notable year for agricultural mortgage investments given the strong market fundamentals in many sectors of the ag economy and our long, successful history with investing in the agriculture industry,” added Merck.

MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, visit www.metlife.com.

This press release may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.

Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining the actual future results of MetLife, Inc., its subsidiaries and affiliates. These statements are based on current expectations and the current economic environment. They involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties and other factors identified in MetLife, Inc.’s filings with the U.S. Securities and Exchange Commission (the “SEC”). These factors include: (1) difficult conditions in the global capital markets; (2) increased volatility and disruption of the capital and credit markets, which may affect our ability to seek financing or access our credit facilities; (3) uncertainty about the effectiveness of the U.S. government’s programs to stabilize the financial system, the imposition of fees relating thereto, or the promulgation of additional regulations; (4) impact of comprehensive financial services regulation reform on us; (5) exposure to financial and capital market risk; (6) changes in general economic conditions, including the performance of financial markets and interest rates, which may affect our ability to raise capital, generate fee income and market-related revenue and finance statutory reserve requirements and may require us to pledge collateral or make payments related to declines in value of specified assets; (7) potential liquidity and other risks resulting from our participation in a securities lending program and other transactions; (8) investment losses and defaults, and changes to investment valuations; (9) impairments of goodwill and realized losses or market value impairments to illiquid assets; (10) defaults on our mortgage loans; (11) the impairment of other financial institutions that could adversely affect our investments or business; (12) our ability to address unforeseen liabilities, asset impairments, loss of key contractual relationships, or rating actions arising from acquisitions or dispositions, including our acquisition of American Life Insurance Companyand Delaware American Life Insurance Company (collectively, “ALICO”) and to successfully integrate and manage the growth of acquired businesses with minimal disruption; (13) uncertainty with respect to the outcome of the closing agreement entered into with the United States Internal Revenue Service in connection with the acquisition of ALICO; (14) uncertainty with respect to any incremental tax benefits resulting from the planned elections for ALICO and certain of its subsidiaries under Section 338 of the U.S. Internal Revenue Code of 1986, as amended; (15) the dilutive impact on our stockholders resulting from the issuance of equity securities in connection with the acquisition of ALICO or otherwise; (16) economic, political, currency and other risks relating to our international operations, including with respect to fluctuations of exchange rates; (17) our primary reliance, as a holding company, on dividends from our subsidiaries to meet debt payment obligations and the applicable regulatory restrictions on the ability of the subsidiaries to pay such dividends; (18) downgrades in our claims paying ability, financial strength or credit ratings; (19) ineffectiveness of risk management policies and procedures; (20) availability and effectiveness of reinsurance or indemnification arrangements, as well as default or failure of counterparties to perform; (21) discrepancies between actual claims experience and assumptions used in setting prices for our products and establishing the liabilities for our obligations for future policy benefits and claims; (22) catastrophe losses; (23) heightened competition, including with respect to pricing, entry of new competitors, consolidation of distributors, the development of new products by new and existing competitors, distribution of amounts available under U.S. government programs, and for personnel; (24) unanticipated changes in industry trends; (25) changes in accounting standards, practices and/or policies; (26) changes in assumptions related to deferred policy acquisition costs, deferred sales inducements, value of business acquired or goodwill; (27) increased expenses relating to pension and postretirement benefit plans, as well as health care and other employee benefits; (28) exposure to losses related to variable annuity guarantee benefits, including from significant and sustained downturns or extreme volatility in equity markets, reduced interest rates, unanticipated policyholder behavior, mortality or longevity, and the adjustment for nonperformance risk; (29) deterioration in the experience of the “closed block” established in connection with the reorganization of Metropolitan Life Insurance Company; (30) adverse results or other consequences from litigation, arbitration or regulatory investigations; (31) inability to protect our intellectual property rights or claims of infringement of the intellectual property rights of others, (32) discrepancies between actual experience and assumptions used in establishing liabilities related to other contingencies or obligations; (33) regulatory, legislative or tax changes relating to our insurance, banking, international, or other operations that may affect the cost of, or demand for, our products or services, impair our ability to attract and retain talented and experienced management and other employees, or increase the cost or administrative burdens of providing benefits to employees; (34) the effects of business disruption or economic contraction due to terrorism, other hostilities, or natural catastrophes, including any related impact on our disaster recovery systems and management continuity planning which could impair our ability to conduct business effectively; (35) the effectiveness of our programs and practices in avoiding giving our associates incentives to take excessive risks; and (36) other risks and uncertainties described from time to time in MetLife, Inc.’s filings with the SEC.

MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if we later become aware that such statement is not likely to be achieved. Please consult any further disclosures MetLife, Inc. makes on related subjects in reports to the SEC.

MetLife, Inc.Emily Phillips, 212-578-7217
orChristopher Breslin, 212-578-8824

Source: MetLife, Inc.