NEWS RELEASE

Washington, DC - The U.S. Office of Personnel Management today announced that Metropolitan Life Insurance Company and John Hancock Life Insurance Company have been selected as the insurers for the Federal Long Term Care Insurance Program.

Metropolitan Life and John Hancock have formed Long Term Care Partners, LLC, a jointly owned entity devoted exclusively to operating the Federal Long Term Care Insurance Program (FLTCIP). Insurance coverage will be available no later than October 2002.

The program is likely to become the largest employer-sponsored, long-term care insurance program in the nation. Under the law, approximately 20 million people, including federal employees and retirees, as well as members and retired members of the uniformed services, will be eligible to apply for coverage. Premiums will be below those generally available in the private market.

A number of factors influenced OPM's selection of Metropolitan Life and John Hancock. Together, they have the resources and experience to efficiently provide this insurance protection. Separately, each has name recognition with the public that inspires trust. The contract was awarded after a rigorous assessment by a team of professionals from several federal agencies. In addition to their knowledge of long-term care, the team brought to the process significant actuarial, financial and procurement expertise.

The FLTCIP will be a model program that offers contemporary benefits, such as a care-coordination program. The program will evolve with the market to adjust for technological advancements in the long-term care industry. The complete premium schedules and benefit options for the FLTCIP will be announced after John Hancock and Metropolitan Life conduct final market research with members of the groups eligible to enroll.

An early-enrollment opportunity for the Federal Long Term Care Insurance Program is scheduled for early 2002 due to significant interest from individuals who are familiar with long- term care insurance coverage. Information about the early-enrollment period will be available soon.

The program is the result of a legislative proposal submitted to Congress in January 1999, which the House and Senate passed in July 2000. The Long Term Care Security Act (PL 106-265) was signed into law on September 19, 2000.