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Contact: METLIFE                        CONNING

         Kevin Foley                    Investor Contact: Paul Kopsky, Jr.
         212 578-4132                                     (314) 444-0715
         Kfoley@metlife.com
                                        Media Contact:    David Garino
                                                          (314) 982-1700

                 METLIFE AND CONNING ANNOUNCE MERGER AGREEMENT

New York, March 9, 2000 -- Metropolitan Life Insurance Company (MetLife) and
Conning Corporation (NASDAQ:CNNG) today announced that they have entered into a
definitive merger agreement providing for the acquisition by MetLife of all of
the outstanding shares of Conning not already controlled by MetLife for $12.50
per share in cash. This is an increase from the $10.50 per share price
contained in MetLife's initial proposal announced January 18, 2000. MetLife
acquired its 61 percent interest in Conning as a result of its January 6, 2000
acquisition of GenAmerica Corporation, Conning's indirect majority owner. The
board of directors of each company has approved the merger agreement.

MetLife is expected to commence the tender offer for Conning's outstanding
shares by March 20, 2000. The tender offer will remain open for 20 business
days, unless extended pursuant to the merger agreement, and is conditioned upon
the tender of a sufficient number of shares to give MetLife and its affiliates
ownership of at least two-thirds of Conning's outstanding shares. Shares not
tendered will be converted into the right to receive the same $12.50 per share
in cash. The merger agreement contains customary closing conditions.

Conning provides asset management services primarily to insurance companies and
institutional investors, manages private equity funds investing in insurance
and insurance-related companies, and conducts in-depth research on the
insurance industry.

Headquartered in New York City since 1868, MetLife is a leading provider of
insurance and financial products and services to a broad spectrum of individual
and group customers. The company, with $404.2 billion of assets under
management as of September 30, 1999 on a pro-forma basis, including the
acquisition of GenAmerica Corp., provides individual insurance and investment
products to approximately 9 million households in the U.S. In addition, the
corporations and institutions that MetLife provides with group insurance and
investment products have approximately 33 million employees and members.
MetLife also has international insurance operations in ten countries, with a
focus on the Asia/Pacific region, Latin America and selected European
countries. For more information about MetLife, please visit the company's Web
site at www.metlife.com.

                                     # # #

All stockholders should read the tender offer statement concerning the tender
offer that will be filed by MetLife with the Securities and Exchange Commission
(SEC) and mailed to stockholders. The tender offer statement will contain
important information that stockholders should consider before making any
decision regarding tendering their shares. You will be able to obtain the
tender offer statement, as well as other filings containing information about
MetLife and Conning, without charge, at the SEC's Internet site (www.sec.gov).
Copies of the tender offer statement and other SEC filings can also be
obtained, without charge, from the MetLife Secretary.