Trust Beneficiary Information
NOTICE TO TRUST BENEFICIARIES OF THE METLIFE POLICYHOLDER TRUST OF THE RIGHT TO WITHDRAW FROM THE TRUST
In accordance with Section 5.4(a) of th e MetLife Policyholder Trust Agreement, beginning on April 7, 2001 and lasting until the termination of the Tr ust, you may elect to withdraw all (but not less than all) of your Trust Shares from the Trust in exchange for all of your Trust Interests. If you make a withdrawal election, your Trust Interests will be reduced to zero and shares of MetLife, Inc. common stock will be issued to you in uncertificated form, subject to applicable law. You will receive, within five business days after receipt of a completed withdrawal election, a statement reflecting ownership of your uncertificated shares, which will provide a means to transfer the withdrawn shares to a brokerage account. MetLife, Inc. will pay the fees and expenses related to a share withdrawal. Once a withdrawal election has been delivered, it cannot be revoked.
Shares will not be issued in exchange for fractional Trust Shares. Instead, you will be paid an amount in cash equal to the value of the fractional share based on the current market value of a whole share of MetLife, Inc. common stock. The current market value will be equal to the average of the high and low prices during regular trading hours on the trading day immediately preceding the day your withdrawal election is received.
Once you have withdrawn shares of common stock from the Trust, you may no longer participate in the Trust's commission-free Purchase and Sale Program. Under the Program, subject to limitations, you may sell your Trust Interests and receive the proceeds, and, if you own less than 1,000 shares of MetLife, Inc. common stock, you may buy more shares to be held for you in the Trust, all on a commission-free basis. Trust Beneficiaries may vote withdrawn shares of common stock on any matters on which stockholders are entitled to vote.
To continue your participation in the MetLife Policyholder Trust, NO ACTION IS REQUIRED.
For additional information and to obtain a withdrawal election form, you may call our information line toll free at 800-649-3593.
Changes in Voting Rights of Trust Beneficiaries for Shares Held in the Trust
Special rules and procedures have been established under our demutualization plan to determine how Wilmington Trust Company, the current trustee of the Trust, will vote the Trust Shares on matters put to a vote of the stockholders of MetLife, Inc. In accordance with these rules, the voting rights of Trust Beneficiaries changed on April 7, 2001, the first anniversary of the demutualization. As a Trust Beneficiary, you will continue to be able to instruct the trustee on how to vote the Trust Shares held for you in the Trust on the following matters:
Effective April 7, 2001, however, you were no longer be able to instruct the Trustee on how to vote the Trust Shares on the following matters, although you were able to do so until that date:
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