/ 7 December 1999

METLIFE INCREASES HEADLINE EARNINGS

SOUTH Africa’s Metropolitan life (Metlife), a financial services group targeting mainly black customers, on Tuesday reported a strong jump in headline earnings and predicted strong future annual earnings growth. In the year to September 30, 1999, Metlife lifted its headline earnings 37% to 75,82 cents a share. The dividend was increased to 25,50 cents from 20,50 cents. Metlife said it expected to achieve at least 20% growth in earnings over the next three years. The company said earnings included the effects of its 1998 acquisition of the life assurance, asset management and unit trust businesses of CGU Holdings Ltd.