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NOTICE OF GUARANTEED DELIVERY
FOR TENDER OF SHARES OF COMMON STOCK
OF
CONNING CORPORATION
BY
CC MERGER SUB INC.
AN INDIRECT WHOLLY OWNED SUBSIDIARY
OF
METROPOLITAN LIFE INSURANCE COMPANY
(NOT TO BE USED FOR SIGNATURE GUARANTEES)
This Notice of Guaranteed Delivery (or one substantially in the form
hereof) must be used to accept the Offer (as defined herein) if (a) certificates
representing shares of common stock, par value $0.01 per share (the "Shares"),
of Conning Corporation, a Missouri corporation ("Share Certificates"), are not
immediately available; (b) time will not permit all required documents to reach
ChaseMellon Shareholder Services, L.L.C. (the "Depositary"), on or prior to the
Expiration Date (as defined in the Offer to Purchase) of the Offer; or (c) the
procedure for book-entry transfer, as set forth in the Offer to Purchase, cannot
be completed on a timely basis. This Notice of Guaranteed Delivery may be
delivered by hand or mail or transmitted by facsimile transmission to the
Depositary. See Section 3, "Procedures for Accepting the Offer and Tendering
Shares," of the Offer to Purchase.
The Depositary for the Offer is
CHASEMELLON SHAREHOLDER SERVICES, L.L.C.
By Mail: By Hand: By Overnight Courier:
Reorganization Department Reorganization Department Reorganization Department
PO Box 3301 120 Broadway 85 Challenger Road
South Hackensack, NJ 07606 13th Floor Mail Stop -- Reorg
New York, NY 10271 Ridgefield Park, NJ 07660
By Facsimile Transmission: Telephone to Confirm Fax:
(201) 296-4293 (201) 296-4860
DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS
SET FORTH ABOVE, OR TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE TO A NUMBER OTHER
THAN AS LISTED ABOVE DOES NOT CONSTITUTE A VALID DELIVERY.
THIS NOTICE OF GUARANTEED DELIVERY IS NOT TO BE USED TO GUARANTEE
SIGNATURES. IF A SIGNATURE ON A LETTER OF TRANSMITTAL IS REQUIRED TO BE
GUARANTEED BY AN "ELIGIBLE INSTITUTION" UNDER INSTRUCTIONS THERETO, SUCH
SIGNATURE GUARANTEE MUST APPEAR IN THE APPLICABLE SPACE PROVIDED IN THE
SIGNATURE BOX IN THE LETTER OF TRANSMITTAL.
THE GUARANTEE ON THE REVERSE SIDE MUST BE COMPLETED.
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Ladies and Gentlemen:
The undersigned hereby tenders to CC Merger Sub Inc., a Missouri
corporation and an indirect wholly owned subsidiary of Metropolitan Life
Insurance Company, a New York life insurance company, upon the terms and subject
to the conditions set forth in the Offer to Purchase, dated March 20, 2000 (the
"Offer to Purchase"), and the related letter of transmittal (the "Letter of
Transmittal," which together with the Offer to Purchase, as amended or
supplemented from time to time, collectively constitute the "Offer"), receipt of
each of which is hereby acknowledged, the number of Shares indicated below
pursuant to the guaranteed delivery procedures set forth in Section 3,
"Procedures for Accepting the Offer and Tendering Shares," of the Offer to
Purchase:
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NUMBER OF SHARES
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NAMES(S) OF RECORD HOLDER(S) CERTIFICATE NOS. (IF AVAILABLE)
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ADDRESS(ES) Indicate account number at Book-Entry Transfer Facility if
Shares will be tendered by book-entry transfer:
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ZIP CODE
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(AREA CODE) TELEPHONE NO. ACCOUNT NUMBER
X ------------------------------------------------------
DATED: -------------------------------------------, 2000
X ------------------------------------------------------
SIGNATURE(S) OF RECORD HOLDER(S)
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GUARANTEE
(NOT TO BE USED FOR SIGNATURE GUARANTEE)
The undersigned, a bank, broker, dealer, credit union, savings association
or other entity that is a member in good standing of the Securities Transfer
Agents Medallion Program (an "Eligible Institution"), hereby guarantees delivery
to the Depositary, at one of its addresses set forth above, of Share
Certificates tendered hereby in proper form for transfer, or confirmation of the
book-entry transfer of Shares into the Depositary's account at The Depository
Trust Company, in either case together with delivery of a properly completed and
duly executed Letter of Transmittal (or facsimile thereof) with any required
signature guarantee, or an Agent's Message (as defined in the Offer to
Purchase), and any other documents required by the Letter of Transmittal, within
three trading days after the date of execution of this Notice of Guaranteed
Delivery.
The Eligible Institution that completes this form must communicate the
guarantee to the Depositary and must deliver the Letter of Transmittal and Share
Certificates to the Depositary within the time period indicated herein. Failure
to do so may result in financial loss to such Eligible Institution.
---------------------------------------------------- X
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NAME OF FIRM AUTHORIZED SIGNATURE
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ADDRESS NAME (PLEASE PRINT)
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ZIP CODE TITLE
---------------------------------------------------- DATED:---------------------------------------------, 2000
(AREA CODE) TELEPHONE NO.
NOTE: DO NOT SEND SHARE CERTIFICATES WITH THIS NOTICE
SHARE CERTIFICATES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL