497 1 d497.txt METFLEX SUPPLEMENT METROPOLITAN LIFE INSURANCE COMPANY METROPOLITAN LIFE SEPARATE ACCOUNT UL METFLEX SUPPLEMENT DATED DECEMBER 8, 2008 TO THE PROSPECTUS DATED APRIL 28, 2008 This supplement updates certain information in the April 28, 2008 prospectus for your MetFlex Flexible Premium Variable Life Insurance Policy. The following new Portfolios will be available under your MetFlex policy, effective December 8, 2008: ROYCE CAPITAL FUND (INVESTMENT CLASS) ------------------------------------- Royce Micro-Cap Portfolio Royce Small-Cap Portfolio Each of the foregoing Portfolios is considered to be a Monitored Portfolio for purposes of applying our market timing procedures. The investment objective, adviser and sub-adviser for each of the Portfolios are as follows:
ROYCE CAPITAL FUND ADVISER: ROYCE & ASSOCIATES, LLC ---------------------------------------------------------------------------------------------------------------------- PORTFOLIO SUB-ADVISER INVESTMENT OBJECTIVE ---------------------------------------------------------------------------------------------------------------------- Royce Micro-Cap Portfolio N/A Long-term growth of capital. ---------------------------------------------------------------------------------------------------------------------- Royce Small-Cap Portfolio N/A Long-term growth of capital. ----------------------------------------------------------------------------------------------------------------------
The annual operating expenses of the Portfolios for the year ended December 31, 2007 are as follows:
FEE WAIVERS ACQUIRED GROSS AND NET FUND TOTAL EXPENSE TOTAL MANAGEMENT OTHER 12B-1 FEES AND ANNUAL REIMBURSE- ANNUAL FEES EXPENSES FEES EXPENSES EXPENSES MENTS EXPENSES ------------------------------------------------------------------------------------------ ROYCE CAPITAL FUND (INVESTMENT CLASS) ------------------------------------------------------------------------------------------ Royce Micro-Cap Portfolio 1.25% .06% .00% .00% 1.31% .00% 1.31% ------------------------------------------------------------------------------------------ Royce Small-Cap Portfolio 1.00% .08% .00% .00% 1.08% .00% 1.08% ------------------------------------------------------------------------------------------