HARTFORD, CONNECTICUT

EDDIE A. PEREZ Telephone: (860) 543-8500

Mayor Fax: (860) 722-6606

Sarah Barr, Director of Communications

--------MEDIA RELEASE--------

CITY OF HARTFORD FILES TO BLOCK

METLIFE MERGER

May 31, 2005 - Hartford Mayor Eddie Perez has filed a petition asking Insurance Commissioner Susan Cogswell to block the merger of Metlife and Travelers Life and Annuity, until Metlife offers a formal commitment on City jobs and philanthropic giving. Mayor Perez says the City of Hartford has not received any details of the transaction other than what he calls, “a vague promise of keeping a certain number of jobs in Hartford for one year.”

Mayor Perez adds, “It appears, when everything is stripped away, this is a temporary extension of temporary jobs.”

Along with not receiving details on jobs, Metlife has refused to share with the City the commitment letter to Insurance Commissioner Cogswell. Mayor Perez says, “Hartford has the potential to be significantly harmed. We’re talking about a loss of wages, rentals, office space, and philanthropic giving.”

Travelers Life and Annuity contributed more than $1 million to the community--- with a lot of that money staying right here in Hartford. Though it is unclear what Metlife will contribute in corporate and philanthropic giving, their insurance filing reported anywhere from $46,000 to $277,000 statewide over the past few years.

This is the last day that the City can intervene. “We’ve been pushed into a corner,” says Mayor Perez. “If we don’t act now, we’re stuck with a deal we know very little about.”