Metlife Investors USA Separate Account A, et al. – ‘485BPOS’ on 4/30/04

On:  Friday, 4/30/04, at 11:43am ET   ·   Effective:  5/1/04   ·   Accession #:  1019687-4-941   ·   File #s:  33-37128, 811-03365

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Post-Effective Amendment
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 485BPOS     Post-Effective Amendment                             168    932K 
 3: EX-99.B10   Miscellaneous Exhibit                                  1      6K 
 4: EX-99.B13   Miscellaneous Exhibit                                 12     29K 
 2: EX-99.B9    Miscellaneous Exhibit                                  2±     8K 

485BPOS   —   Post-Effective Amendment
Document Table of Contents

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                                                      '33 ACT FILE NO. 033-37128
                                                      '40 ACT FILE NO.  811-3365

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-4

 REGISTRATION STATEMENT UNDER THE SECURITIES
 ACT OF 1933

 PRE-EFFECTIVE AMENDMENT NO. [ ]

 POST-EFFECTIVE AMENDMENT NO. 15 [X]

AND/OR

 REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 AMENDMENT NO. 171 [X]
 (CHECK APPROPRIATE BOX OR BOXES.)

METLIFE INVESTORS USA SEPARATE ACCOUNT A
(EXACT NAME OF REGISTRANT)

 METLIFE INVESTORS USA INSURANCE COMPANY
 (NAME OF DEPOSITOR)

 22 CORPORATE PLAZA DRIVE, NEWPORT BEACH, CA 92660

 (ADDRESS OF DEPOSITOR'S PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)

DEPOSITOR'S TELEPHONE NUMBER, INCLUDING AREA CODE:  800-989-3752

RICHARD C. PEARSON
EXECUTIVE VICE PRESIDENT & GENERAL COUNSEL
 METLIFE INVESTORS USA INSURANCE COMPANY
 22 CORPORATE PLAZA DRIVE, NEWPORT BEACH, CA 92660
 (NAME AND ADDRESS OF AGENT FOR SERVICE)

IT IS PROPOSED THAT THIS FILING WILL BECOME EFFECTIVE (CHECK APPROPRIATE SPACE) 

[ ] IMMEDIATELY UPON FILING PURSUANT TO PARAGRAPH (b) OF RULE 485               
[x] ON MAY 1, 2004, PURSUANT TO PARAGRAPH (b) OF RULE 485                       
[ ] 60 DAYS AFTER FILING PURSUANT TO PARAGRAPH (a) OF RULE 485                  
[ ] ON [DATE] PURSUANT TO PARAGRAPH (a) OF RULE 485                             

IF APPROPRIATE, CHECK THE FOLLOWING BOX:                                        

[ ] THIS POST-EFFECTIVE AMENDMENT DESIGNATES A NEW EFFECTIVE DATE FOR A         
PREVIOUSLY FILED POST-EFFECTIVE AMENDMENT.                              

Title of Securities Registered:                                                 
Group Variable Annuity Contracts                                      

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PART A    
 GROUP FLEXIBLE PAYMENT VARIABLE ANNUITY CONTRACTS

issued by     

  METLIFE INVESTORS USA SEPARATE ACCOUNT A

 and

 METLIFE INVESTORS USA INSURANCE COMPANY
----------------------------------------------------------------------

This Prospectus gives you important information about the group flexible payment
fixed and variable annuity contracts issued by MetLife Investors USA            
Separate Account A (the "Separate Account") by MetLife Investors USA            
Insurance Company ("MetLife Investors USA) (the "Contracts"). Please read       
it carefully before you invest and keep it for future reference. The Contracts  
provide annuity benefits through distributions made from certain retirement     
plans that qualify for special federal income tax treatment ("qualified plans").

You decide how to allocate your money among the available investment choices.   
You may choose to allocate your payments to the General Account, which is a     
fixed account (not described in this Prospectus) that offers an interest rate   
guaranteed by MetLife Investors USA Insurance Company, or to the Separate       
Account. The Separate Account, in turn, invests in the following underlying     
mutual funds:                                                                   

ALGER AMERICAN FUND (Class 0)                                 

Small Capitalization Portfolio*                   

AMERICAN FUNDS INSURANCE SERIES (Class 2)                     

Growth Fund                                       
Growth-Income Fund                                
Global Small Capitalization Fund                  

FIDELITY VARIABLE INSURANCE PRODUCTS (Initial Class)          

VIP Asset Manager(SM) Portfolio*                  
VIP Contrafund(R) Portfolio                       
VIP Growth Portfolio                              
VIP Money Market Portfolio                        
VIP Overseas Portfolio**                          

MET INVESTORS SERIES TRUST (Class A)                          

Met/AIM Small Cap Growth Portfolio                
J.P. Morgan Quality Bond Portfolio                
Lord Abbett Bond Debenture Portfolio              
Lord Abbett Growth and Income Portfolio           
MFS(R) Research International Portfolio           
PIMCO PEA Innovation Portfolio                    
(formerly PIMCO Innovation Portfolio)         
PIMCO Total Return Portfolio                      
Third Avenue Small Cap Value Portfolio            

METROPOLITAN SERIES FUND, INC. (Class A)                      

Davis Venture Value Portfolio                   
FI Mid Cap Opportunities Portfolio              
Harris Oakmark Focused Value Portfolio          
Harris Oakmark Large Cap Value Portfolio        
 Lehman Brothers(R) Aggregate Bond Index Portfolio
MetLife Mid Cap Stock Index Portfolio           
MetLife Stock Index Portfolio                   
MFS(r) Total Return Portfolio                   
Morgan Stanley EAFE(R) Index Portfolio          
Russell 2000(R) Index Portfolio                 
State Street Research Aurora Portfolio          
State Street Research Bond Income Portfolio     
State Street Research Large Cap Growth Portfolio
(formerly Alger Equity Growth Portfolio)    
State Street Research Large Cap Value Portfolio 
T. Rowe Price Small Cap Growth Portfolio        

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SCUDDER VARIABLE SERIES I (Class A)                           

International Portfolio*                          

T. ROWE PRICE GROWTH STOCK FUND**                             

*Participant approval to substitute these portfolios was not obtained.          

**AT THIS TIME, FIDELITY VIP OVERSEAS PORTFOLIO (AVAILABLE IN 
   RETIREMENT COMPANION) AND T. ROWE PRICE GROWTH STOCK FUND ARE NOT
      AVAILABLE FOR USE WITH CONTRACTS PURCHASED IN CONNECTION WITH 403(B)
PLANS.                                                        

You can choose any combination of these investment choices. Your Participant's  
Account will vary daily to reflect the investment experience of the funding     
options selected. These mutual funds are described in detail in the fund        
prospectuses that are attached to or delivered with this Prospectus. Please read
these prospectuses carefully before you invest.                                 

The contracts:                                                                  

o        are not bank deposits                                                  
o        are not FDIC insured                                                   
o        are not insured by any federal government agency                       
o        are not guaranteed by any bank or credit union                         
o        may be subject to loss of principal                                    

If you would like more information about the Contracts, you can obtain a copy of
the Statement of Additional Information ("SAI") dated May 1, 2004. The SAI is   
legally considered a part of this Prospectus as though it were included in the  
Prospectus. The Table of Contents of the SAI appears on page ____ of the        
Prospectus. To request a free copy of the SAI or to ask questions, write or     
call:                                                                           

 MetLife Investors USA Insurance Company
22 Corporate Plaza Drive
Newport Beach, CA 92660-7901
 Phone: (800) 343-8496

The Securities and Exchange Commission ("SEC") has a website                    
(http://www.sec.gov) which you may visit to view this Prospectus, the SAI, or   
additional material that also is legally considered a part of this Prospectus,  
as well as other information.                                                   

THE SEC HAS NOT APPROVED OR DISAPPROVED THESE SECURITIES NOR DETERMINED IF THIS 
PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A     
CRIMINAL OFFENSE.                                                               

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 TABLE OF CONTENTS

                                                                        PAGE
                                                                        ----

Glossary                                                                        
Summary of the Contracts                                                        
Fee Tables and Examples                                                         
Financial and Performance Information                                           
Description of The Insurance Company,                                           
The General Account, The Separate Account, The Funds and                        
Service Providers                                                               
The Insurance Company                                           
The General Account                                             
The Separate Account                                            
The Funds                                                       
Principal Underwriter                                           
Servicing Agent                                                 
Custodian                                                       
Contract Charges                                                                
Premium Taxes                                                   
Surrender Charge                                                
Administrative Fees                                             
Transaction Charges                                             
Mortality and Expense Risk Charges                              
Distribution Expense Charge (Sales Load)                        
Federal, State and Local Taxes                                  
Free Look Period                                                
Deferred Compensation Plans                                     
Description of the Contracts                                                    
General                                                         
Assignment                                                      
Purchase Payments                                               
Transfers                                                       
Market Timing                                                   
Loans (403(b) Plans only)                                       
Modification of the Contracts                                   
Accumulation Period                                                             
Crediting Accumulation Units in the Separate Account            
Surrender from the Separate Account                             
Account Statements                                              
Annuity Benefits                                                                
Variable Annuity Payments                                       
Election of Annuity Date and Form of Annuity                    
Frequency of Payment                                            
Level Payments Varying Annually                                 
Annuity Unit Values                                             
Death Benefits                                                                  
Death Before the Annuity Date                                   
Death After the Annuity Date                                    
Federal Tax Considerations                                                      
Voting Rights                                                                   
Legal Proceedings                                                               
Additional Information                                                          
Table of Contents of Statement of Additional Information                        

APPENDIX A - CONDENSED FINANCIAL INFORMATION                                    

APPENDIX B - PARTICIPATING INVESTMENT PORTFOLIOS                                

MetLife Investors USA does not intend to offer the Contracts anywhere or to     
anyone to whom they may not lawfully be offered or sold. MetLife Investors USA  
has not authorized any information or representations about the Contracts other 
than the information in this Prospectus, the attached prospectuses, or          
supplements to the prospectuses or any supplemental sales material MetLife      
Investors USA authorizes.                                                       

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GLOSSARY

These terms have the following meanings when used in this Prospectus:           

ACCUMULATION UNIT - A measuring unit used to determine the value of your        
interest in a Separate Account Series under a Contract at any time before       
Annuity payments commence.                                                      

ANNUITANT - The person on whose life Annuity payments under a Contract are      
based.                                                                          

ANNUITY - A series of income payments made to an Annuitant for a defined period 
of time.                                                                        

ANNUITIZATION or ANNUITY DATE - The date on which Annuity payments begin.       

ANNUITY UNIT - A measuring unit used to determine the amount of Variable Annuity
payments based on a Separate Account Series under a Contract after such payments
have commenced.                                                                 

ASSUMED INVESTMENT RETURN - The investment rate selected by the Annuitant for   
use in determining the Variable Annuity payments.                               

BENEFICIARY - The person who has the right to a Death Benefit upon your death.  

BUSINESS DAY - Each Monday through Friday except for days the New York Stock    
Exchange is not open for trading.                                               

CERTIFICATE - The form you are given which describes your rights under the      
Contract. No Certificates are issued for certain deferred compensation or       
qualified retirement plans.                                                     

CERTIFICATE DATE - The date you are issued a Certificate. If you are not issued 
a Certificate, this is the date when your Account is established.               

CERTIFICATE YEAR - The 12 month period that begins on your Certificate Date and 
on each anniversary of this date.                                               

CONTRACT - The agreement between the Owner and MetLife Investors USA covering   
your rights.                                                                    

FIXED ANNUITY - An Annuity providing guaranteed level payments. These payments  
are not based upon the investment experience of the Separate Account.           

FREE LOOK PERIOD - The 20-day period when you first receive your Contract.      
During this time period, you may cancel your Contract for a full refund of all  
Purchase Payments (or the greater of Purchase Payments or the Contract Value in 
some states).                                                                   

FREE WITHDRAWAL AMOUNT - The amount that can be withdrawn in a Contract Year    
without incurring a surrender charge.                                           

FUND - A diversified, open-end management investment company, or series thereof,
registered under the Investment Company Act of 1940 ("1940 Act") which serves as
the underlying investment medium for a Series in the Separate Account.          

GENERAL ACCOUNT - All assets of MetLife Investors USA other than those in the   
Separate Account or any of its other segregated asset accounts.                 

NORMAL ANNUITY DATE- The date on which Annuity payments begin if you do not     
select another date. It is the later of the Contract anniversary nearest the    
Annuitant's 75th birthday or the 10th anniversary of the Contract Date.         

OWNER - The person who has title to the Contract.                               

PARTICIPANT - You, the person who makes Purchase Payments, or the person for    
whom Purchase Payments are made.                                                

PARTICIPANT'S ACCOUNT - The sum of your interest in the Separate Account Series 
and your interest in the General Account. Your interest in the Separate Account 
Series is the sum of the values of the Accumulation Units. Your interest in the 
General Account is the accumulated value of the amounts allocated to the General
Account plus credited interest as guaranteed in the Contract, less any prior    
withdrawals and/or amounts applied to Annuity options.                          

PLAN - The 403(b) plan, deferred compensation plan, qualified retirement plan,  
or individual retirement annuity to which the Contract is issued.               

PURCHASE PAYMENT - The amounts paid by or for you to MetLife Investors USA in   
order to provide benefits under the Contract.                                   

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SEPARATE ACCOUNT - The segregated asset account entitled "MetLife Investors USA 
Separate Account A" which has been established by MetLife Investors USA under   
Delaware law to receive and invest amounts allocated by you and by other        
contract owners and to provide Variable Annuity benefits under the Contracts.   
The Separate Account is registered as a unit investment trust under the 1940    
Act.                                                                            

SERIES - The Accumulation Unit values and Annuity Unit values maintained        
separately for each Fund whose securities are owned by the Separate Account.    

SURRENDER CHARGE - A percentage charge which is deducted when you fully or      
partially surrender. The amount varies depending on how long Purchase Payments  
have been with MetLife Investors USA.                                           

VALUATION DATE - Any Business Day used by the Separate Account to determine the 
value of part or all of its assets for purposes of determining Accumulation and 
Annuity Unit values for the Contract. Accumulation Unit values will be          
determined each Business Day. There will be one Valuation Date in each calendar 
week for Annuity Unit values. MetLife Investors USA will establish the Valuation
Date at its discretion, but until notice to the contrary is given, that date    
will be the last Business Day in a week.                                        

VALUATION PERIOD - The period of time from one Valuation Date through the next  
Valuation Date.                                                                 

VARIABLE ANNUITY - An Annuity providing payments that will vary annually in     
accordance with the net investment experience of the applicable Separate Account
Series.                                                                         

SUMMARY OF THE CONTRACTS

THE CONTRACTS                                                                   

The Contracts may be offered to:                                                

-        Qualified Plans such as:                             

         -        Section 403(b) tax-sheltered annuities; - Section 457 deferred
            compensation plans; and - Section 401 pension and profit
sharing plans.                              

Note: The dollars in a Qualified Plan are tax deferred. Contracts purchased for 
use with a Qualified Plan provide no additional tax deferral, and there should  
be reasons other than tax deferral for purchasing the Contract.                 

THIS PROSPECTUS APPLIES ONLY TO THE VARIABLE PORTION OF THE CONTRACT            

[SIDE BAR:     Please see the section "Federal Tax Considerations"              
on page ____ for more information.]               

PURCHASE PAYMENTS                                                               

Purchase Payments under the Contracts are made to the General Account, the      
Separate Account, or allocated between them. The minimum Purchase Payment is as 
little as $20, but there is an annual minimum of $240 (for IRAs, the minimum is 
$2,000 for an initial Purchase Payment and $500 for each additional payment).   

There is no initial sales charge; however, the charges and deductions described 
under "Contract Charges" on page ___ will be deducted from the Participant's    
Account.                                                                        

Amounts allocated to the General Account may be transferred to the Separate     
Account subject to certain limitations as to time and amount. Unless you have   
exercised a special option, the minimum transfer is the lesser of $500 or the   
balance of your Account in the Series.                                          

You can transfer amounts allocated to the Separate Account:                     

    -     between any of the mutual fund investment choices, at any time and
as many times as you choose                             

-     to the General Account at any time before the amount has been 
applied to a variable annuity option                    

See, however, restrictions on transfers in "Description of the Contracts -      
Market Timing."                                                                 

[SIDE BAR: Please see "Transfers" on page ____ for more information.]           

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SEPARATE ACCOUNT                                                                

Purchase Payments allocated to the Separate Account are invested at net asset   
value in Accumulation Units in one or more of 34 Series, each of which          
invests in one of the following 34 Funds:                                       

Funds                                       Investment Advisers 
    ------------------------------------        ------------------------
       ALGER AMERICAN FUND (Class 0)               Fred Alger Management, Inc.

Small Capitalization Portfolio (1)                              

AMERICAN FUNDS INSURANCE SERIES (Class 2)   Capital Research and
                                                  Management Company ("CRM")

American Funds Growth Fund                                      
American Funds Growth-Income Fund                               
American Global Small Capitalization Fund                       

 FIDELITY VARIABLE INSURANCE                 Fidelity Management &
  PRODUCTS (Initial Class)                  Research Co. ("FMR")

VIP Asset Manager(SM) Portfolio (1)                             
VIP Contrafund(R) Portfolio                                     
VIP Growth Portfolio                                            
VIP Money Market Portfolio                                      
VIP Overseas Portfolio                                          

       MET INVESTORS SERIES TRUST (Class A)        Met Investors Advisory, LLC
                                     ("MIA")(2)(3)
Met/AIM Small Cap Growth Portfolio                              
J.P. Morgan Quality Bond Portfolio                              
Lord Abbett Bond Debenture Portfolio                            
Lord Abbett Growth and Income Portfolio                         
MFS(R) Research International Portfolio                         
PIMCO PEA Innovation Portfolio                                  
(formerly PIMCO Innovation Portfolio)                       
PIMCO Total Return Portfolio                                    
Third Avenue Small Cap Value Portfolio                          

   METROPOLITAN SERIES FUND, INC. (Class A)   (MetLife Advisers, LLC
                                     ("MA") (2)(3)

Davis Venture Value Portfolio                                 
FI Mid Cap Opportunities Portfolio                            
Harris Oakmark Focused Value Portfolio                        
Harris Oakmark Large Cap Value Portfolio                      
Lehman Brothers(R) Aggregate Bond Index Portfolio             
MetLife Mid Cap Stock Index Portfolio                         
MetLife Stock Index Portfolio                                 
MFS(r) Total Return Portfolio                                 
Morgan Stanley EAFE(R) Index Portfolio                        
Russell 2000(R) Index Portfolio                               
State Street Research Aurora Portfolio                        
State Street Research Bond Income Portfolio                   
State Street Research Large Cap Growth Portfolio              
(formerly Alger Equity Growth Portfolio                   
State Street Research Large Cap Value Portfolio               
T. Rowe Price Small Cap Growth Portfolio                      

SCUDDER VARIABLE SERIES I                           Deutsche Investment         
       International Portfolio (1)                  Management Americas Inc.

T. ROWE PRICE GROWTH STOCK FUND                     Price Associates, Inc.      
____________________                                                            

Note 1.  Participants approval to substitute these portfolios was not obtained. 

Note 2. These investment advisers have engaged subadvisers to provide investment
advice for individual Funds.                                                    

Note 3.  MIA and MA are affiliates of MetLife Investors USA.                    

[SIDE BAR: Please see "The Separate Account" on page ____ and "The Funds" on    
page ____ for more information.]                          

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CHARGES AND DEDUCTIONS                                                          

The following fees and expenses apply to your Contract:                         

             Fee or expense                      Amount of fee
             --------------                      -------------
DAILY DEDUCTIONS                                                                

-      Distribution expenses                      .000274%      
                                                   (.10% per year)

-      Mortality and Expense risks                .003425%      
                                                    (1.25% per year)

ANNUAL DEDUCTIONS                                                               

There is an Administrative Fee of $21.50 plus $2.50 for each Series in which you
invest. MetLife Investors USA will waive these administrative fees for any      
Certificate Year during which you contribute $2,000 or more to your account or  
your Participant's Account has a value at the end of the Certificate Year of    
$10,000 or more. This reduction is permanent for Certificates issued before the 
termination or reduction of the waiver. (No such termination or reduction of the
waiver is contemplated at this time).                                           

TRANSACTION CHARGES                                                             

A charge of $10 may be deducted for:                                            

-     A transfer from any Series;                                   

    -     A full or partial surrender (the charge will be no more than 2% of
the amount of the surrender); or                        

-     Annuitization of all or a part of your Participant's Account. 

We currently waive the transaction charge for transfers from any Series, but    
reserve the right to impose the charge in the future. See however restrictions  
on transfers in "Description of the Contracts - Market Timing."                 

SURRENDER CHARGE (CONTINGENT DEFERRED SALES CHARGE)                             

   -  Deducted if you request a full          7% of Purchase Payment and amounts
or partial withdrawal of                credited to it. This charge 
   Purchase Payments from the              applies for 60 months after the
 Separate Account within 60              Purchase Payment is received.
months after the Purchase Payment                                   
is made.                                                            

However, for 403(b) plans, we will not deduct any surrender charge              
once nine (9) full years have elapsed since your Certificate Date; and for the  
first surrender in each year, you may surrender up to 10% of the value of your  
interest in the Separate Account without a surrender charge. WITHDRAWALS FROM   
403(b) PLANS MAY BE RESTRICTED BY THE INTERNAL REVENUE CODE.                    

The following expenses may be waived for certain deferred compensation plans:   

-     administrative fees                                           
-     transaction charges                                           
-     distribution fees                                             
-     sales charges on certain surrenders                           

PREMIUM TAXES                                                                   

-     Payable to a state or government                0% - 3.5%     
agency with respect to your Contract.                   
It may be deducted on or after the date                 
the tax is incurred.                                    
 Currently, MetLife Investors USA deducts these taxes upon
annuitization.                                          

[SIDE BAR: Please see "Contract Charges" on page ___ for more information.]     

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FREE LOOK PERIOD                                                                

You may cancel your interest in the Contract within 20 days after you receive   
your Certificate (or longer depending on state law) for a full refund of all    
Purchase Payments (or the greater of Purchase Payments or the Participant's     
Account in some states). Purchase Payments allocated to the Separate Account    
will be initially allocated to the Money Market Portfolio during the Free Look  
Period.                                                                         

[SIDE BAR: Please see "Free Look Period" on page ____ for more information.]    

VARIABLE ANNUITY PAYMENTS                                                       

You select the Annuity Date, an Annuity payment option and an assumed investment
return. You may change any of your selections before your Annuity Date. Your    
monthly Annuity payments will start on the Annuity Date and will vary from year 
to year based on a comparison of the assumed investment returns you selected    
with the actual investment experience of the Series in which the Participant's  
Account is invested.                                                            

If your monthly payments from a particular Series are less than $50, MetLife    
Investors USA may change the frequency of your payments so that each payment    
will be at least $50 from that Series.                                          

SURRENDER                                                                       

You may surrender all or part of your Participant's Account before the Annuity  
Date. You may not make a partial withdrawal if:                                 

      -     it would cause your interest in any Series of the General Account to
            fall below $200 (unless you are surrendering your entire interest in
a Series)                                               

However, if you are withdrawing the entire amount allocated to a Series; these  
restrictions do not apply.                                                      

You may be assessed a surrender charge. In addition, any amounts surrendered    
will be taxed as ordinary income and may be subject to a penalty tax under the  
Internal Revenue Code. Certain restrictions apply for qualified contracts.      

[SIDE BAR:   Please see "Surrender Charge" on page ___ and "Federal Tax         
Considerations" on page ___ for more information.]    

LOANS - 403(b) PLANS ONLY                                                       

You may be able to obtain a loan from the portion of your Account allocated to  
the General Account. Loan proceeds may be considered taxable distributions under
the Internal Revenue Code in the event of a default in repayments.              

MetLife Investors USA may:                                                      

--     terminate loans                                                          
--     change the terms under which loans are made                              

Any action taken by MetLife Investors USA would not affect outstanding loans.   

DEATH BENEFIT                                                                   

You name your Beneficiary(ies). If you die before attaining age 65 and prior to 
the Annuity Date, the amount of any lump sum settlement will be the greater of: 

     -     the total of all Purchase Payments less any partial withdrawals; or
-     the value of the Participant's Account at settlement.         

If the death occurs on or after age 65, the death benefit will be equal to the  
Participant's Account.                                                          

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STATE VARIATIONS                                                                

Contracts issued in your state may provide different features and benefits from,
and impose different costs than, those described in this prospectus. This       
prospectus provides a general description of the Contract. Your actual          
Certificate and any endorsements are the controlling documents. If you would    
like to review a copy of the Contract and endorsements, contact our             
administrative offices.                                                         

[SIDE BAR: Please see "Death Benefits" on page ____ for more information.]      

MARKET TIMING MetLife Investors USA has adopted policies and procedures that    
attempt to detect transfer activity that may adversely affect Participants and  
the Funds. Upon detection of this activity, restrictions may be imposed on      
transfers.                                                                      

[SIDE BAR: Please see "Description of the Contracts - Market Timing" on page ___
for more information.                                                           

FEE TABLES AND EXAMPLES                                                         

THE FOLLOWING TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY WHEN      
BUYING, OWNING, AND SURRENDERING THE CONTRACT. THE FIRST TABLE DESCRIBES THE    
FEES AND EXPENSES THAT YOU WILL PAY AT THE TIME THAT YOU BUY THE CONTRACT,      
SURRENDER THE CONTRACT, OR TRANSFER CASH VALUE BETWEEN INVESTMENT OPTIONS. STATE
PREMIUM TAXES MAY ALSO BE DEDUCTED.                                             
_________________________________________________________________________       
PARTICIPANT TRANSACTION EXPENSES TABLE                                          

SURRENDER CHARGE (Note 1)                              7%                       
[as a percentage of amounts accumulated                                   
with respect to a purchase payment,                                       
including earnings or losses credited                                     
to the purchase payment)                                                  

TRANSACTION CHARGE (Note 2)                                                     
(each surrender and annuitization)                  $10                   

TRANSFER FEE (Note 3)                                  $10                      
                                          per transfer
__________________________________________________________________________      

Note 1. Surrender charges decline based on date of purchase payment. (See       
Expenses - Surrender Charge)                                                

Number of Complete months from                                                  
Receipt of Purchase Payment                  % Charge                           
---------------------------                  --------                           
60 months or less                      7                      
More than 60 months                    0                      

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Amounts surrendered are attributed to Purchase Payments made (and any           
accumulation) on a first-in, first-out basis.                                   

Note 2. In the event of a surrender, the charge is the lesser of $10 or 2% of   
the amount surrendered.                                                         

Note 3. This fee applies to each transfer from a Series. We currently waive this
charge                                                                          

THE NEXT TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY PERIODICALLY   
DURING THE TIME THAT YOU OWN THE CONTRACT, NOT INCLUDING FUND FEES AND EXPENSES.
___________________________________________________________________________     
PERIODIC FEES AND EXPENSES TABLE                                                

ADMINISTRATIVE CHARGE (Note 1)                      $21.50 plus                 
(deducted annually)                               $2.50 for each Series     

SEPARATE ACCOUNT ANNUAL EXPENSES                                                
(referred to as Separate Account                                      
Product Charges) (as a percentage of                                  
average account value in the                                          
Separate Account)                                                     

Mortality and Expense Charge                         1.25%                      
Distribution Expense Charge                          0.10%                      
                               -----
Total Separate Account Annual Expenses               1.35%                      
________________________________________________________________________________

Note 1. The Administrative Charge is currently waived if you make purchase      
payments of $2,000 or more in a Certificate Year or if your Series Participant's
Account value is $10,000 or more at the end of the Certificate Year.            

THE NEXT TABLE SHOWS THE MINIMUM AND MAXIMUM TOTAL OPERATING EXPENSES CHARGED BY
THE FUNDS THAT YOU MAY PAY PERIODICALLY DURING THE TIME THAT YOU                
OWN THE CONTRACT. MORE DETAIL CONCERNING EACH FUND'S FEES AND                   
EXPENSES IS CONTAINED IN THE PROSPECTUSES FOR THE FUNDS AND IN                  
THE FOLLOWING TABLES.                                                           

Total Annual Fund                         Minimum             Maximum           
Operating Expenses                         0.29%               1.26%            
(expenses that are deducted from                                                
Fund assets, including                                                          
management fees, 12b-1/service fees, and                                        
other expenses)                                                                 

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                                                        [Enlarge/Download Table]
                                                                                                                                    
FUND EXPENSES                                                                                                                       
(as a percentage of the average daily net assets of a Fund)                                                                         
The following table is a summary. For more complete information on Fund fees and expenses, please refer to the                      
prospectus for each Fund.                                                                                                           

                                                                                     FIDELITY                                       
                                              AMERICAN                    Global     VARIABLE                                       
                        ALGER      Small      FUNDS                       Small      INSURANCE                                      
                        AMERICAN   Capital-   INSURANCE          Growth-  Capital-   PRODUCTS    VIP Asset   VIP           VIP      
                        FUND       ization    SERIES     Growth  Income   ization    (INITIAL    Manager(SM) Contrafund(R) Growth   
                        (CLASS O)  Portfolio  (CLASS 2)  Fund    Fund     Fund       CLASS)      Portfolio   Portfolio     Portfolio
                        ---------  ---------  ---------  ----    ----     ----       ------      ---------   ---------     -------- 
Management Fees                    0.85%                 0.37%   0.33%    0.80%                  0.53%       0.58%         0.58%    

12b-1/Service Fees                 0.00%                 0.25%   0.25%    0.25%                  0.00%       0.00%         0.00%    

Other Expenses(1)                  0.12%                 0.02%   0.01%    0.03%                  0.10%       0.09%         0.09%    

Total Annual Portfolio                                                                                                              
Expenses                           0.97%                 0.64%   0.59%    1.08%                  0.63%       0.67%         0.67%    
------------------------------------------------------------------------------------------------------------------------------------
Contractual Expense                                                                                                                 
Subsidy or Deferral                0.00%                 0.00%   0.00%    0.00%                  0.00%       0.00%         0.00%    
------------------------------------------------------------------------------------------------------------------------------------
Net Total Annual                                                                                                                    
Portfolio Expense(2)               0.97%                 0.64%   0.59%    1.08%                  0.63%       0.67%         0.67%    
------------------------------------------------------------------------------------------------------------------------------------

(1) Other Expenses may include amounts repaid to investment advisers or managers                                                    
pursuant to contractual arrangements for prior waivers or payment of portfolio                                                      
expenses. The amounts repaid per portfolio are: 0.03% for the Lord Abbett Bond                                                      
Debenture Portfolio; 0.02% for the PIMCO Total Return Portfolio; and 0.01% for                                                      
the Third Avenue Small Cap Value Portfolio.                                                                                         

(2) The Net Total Annual Portfolio Expenses have been restated to reflect                                                           
contractual arrangements in effect as of May 1, 2004, under which investment                                                        
advisers or managers of Funds have agreed to waive and/or pay expenses of the                                                       
portfolios. Each of these arrangements terminates on April 30, 2005 (excluding                                                      
optional extensions). Net Total Annual Portfolio Expenses have not been restated                                                    
to reflect expense reductions that certain Funds achieved as a result of                                                            
directed brokerage arrangements. The Funds provided the information on their                                                        
expenses, and we have not independently verified the information. Unless                                                            
otherwise indicated, the information provided is for the year ended December 31,                                                    
2003.                                                                                                                               

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                                              MET                   J.P.       Lord       Lord        MFS(R)                        
                        VIP                   INVESTORS  Met/AIM    Morgan     Abbett     Abbett      Research                      
                        Money      VIP        SERIES     Small Cap  Quality    Bond       Growth and  Inter-     PIMCO PEA          
                        Market     Overseas   TRUST      Growth     Bond       Debenture  Income      national   Innovation         
                        Portfolio  Portfolio  (CLASS A)  Portfolio  Portfolio  Portfolio  Portfolio   Portfolio  Portfolio          
                        ---------  ---------  ---------  ---------  ---------  ---------  ---------   ---------  ---------          
Management Fees         0.20%      0.73%                 0.90%      0.52%      0.60%      0.56%       0.80%      0.95%              

12b-1/Service Fees      0.00%      0.00%                 0.00%      0.00%      0.00%      0.00%       0.00%      0.00%              

Other Expenses(1)       0.09%      0.17%                 0.26%      0.15%      0.10%      0.06%       0.31%      0.31%              

Total Annual Portfolio                                                                                                              
Expenses                0.29%      0.90%                 1.16%      0.67%      0.70%      0.62%       1.11%      1.26%              
------------------------------------------------------------------------------------------------------------------------------------
Contractual Expense                                                                                                                 
Subsidy or Deferral     0.00%      0.00%                 0.12%      0.00%      0.00%      0.00%       0.02%      0.16%              
------------------------------------------------------------------------------------------------------------------------------------
Net Total Annual                                                                                                                    
Portfolio Expense(2)    0.29%      0.90%                 1.04%      0.67%      0.70%      0.62%       1.09%      1.10%              
------------------------------------------------------------------------------------------------------------------------------------

(1) Other Expenses may include amounts repaid to investment advisers or managers                                                    
pursuant to contractual arrangements for prior waivers or payment of portfolio                                                      
expenses. The amounts repaid per portfolio are: 0.03% for the Lord Abbett Bond                                                      
Debenture Portfolio; 0.02% for the PIMCO Total Return Portfolio; and 0.01% for                                                      
the Third Avenue Small Cap Value Portfolio.                                                                                         

(2) The Net Total Annual Portfolio Expenses have been restated to reflect                                                           
contractual arrangements in effect as of May 1, 2004, under which investment                                                        
advisers or managers of Funds have agreed to waive and/or pay expenses of the                                                       
portfolios. Each of these arrangements terminates on April 30, 2005 (excluding                                                      
optional extensions). Net Total Annual Portfolio Expenses have not been restated                                                    
to reflect expense reductions that certain investment portfolios achieved as a                                                      
result of directed brokerage arrangements. The Funds provided the information on                                                    
their expenses, and we have not independently verified the information. Unless                                                      
otherwise indicated, the information provided is for the year ended December 31,                                                    
2003.                                                                                                                               

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                                   Third                               FI         Harris     Harris     Lehman       MetLife        
                        PIMCO      Avenue     METROPOLITAN  Davis      Mid Cap    Oakmark    Oakmark    Brothers(R)  Mid Cap        
                        Total      Small Cap  SERIES        Venture    Oppor-     Focused    Large Cap  Aggregate    Stock          
                        Return     Value      FUND, INC.    Value      tunities   Value      Value      Bond Index   Index          
                        Portfolio  Portfolio  (CLASS A)     Portfolio  Portfolio  Portfolio  Portfolio  Portfolio    Portfolio      
                        ---------  ---------  ---------     ---------  ---------  ---------  ---------  ---------    ---------      
Management Fees         0.50%      0.75%                    0.74%      0.69%      0.75%      0.74%      0.25%        0.25%          

12b-1/Service Fees      0.00%      0.00%                    0.00%      0.00%      0.00%      0.00%      0.00%        0.00%          

Other Expenses(1)       0.09%      0.18%                    0.05%      0.08%      0.05%      0.09%      0.09%        0.15%          

Total Annual Portfolio                                                                                                              
Expenses                0.59%      0.93%                    0.79%      0.77%      0.80%      0.83%      0.34%        0.40%          
------------------------------------------------------------------------------------------------------------------------------------
Contractual Expense                                                                                                                 
Subsidy or Deferral     0.00%      0.00%                    0.00%      0.00%      0.00%      0.00%      0.00%        0.00%          
------------------------------------------------------------------------------------------------------------------------------------
Net Total Annual                                                                                                                    
Portfolio Expense(2)    0.59%      0.93%                    0.79%      0.77%      0.80%      0.83%      0.34%        0.40%          
------------------------------------------------------------------------------------------------------------------------------------

(1) Other Expenses may include amounts repaid to investment advisers or managers                                                    
pursuant to contractual arrangements for prior waivers or payment of portfolio                                                      
expenses. The amounts repaid per portfolio are: 0.03% for the Lord Abbett Bond                                                      
Debenture Portfolio; 0.02% for the PIMCO Total Return Portfolio; and 0.01% for                                                      
the Third Avenue Small Cap Value Portfolio.                                                                                         

(2) The Net Total Annual Portfolio Expenses have been restated to reflect                                                           
contractual arrangements in effect as of May 1, 2004, under which investment                                                        
advisers or managers of Funds have agreed to waive and/or pay expenses of the                                                       
portfolios. Each of these arrangements terminates on April 30, 2005 (excluding                                                      
optional extensions). Net Total Annual Portfolio Expenses have not been restated                                                    
to reflect expense reductions that certain investment portfolios achieved as a                                                      
result of directed brokerage arrangements. The Funds provided the information on                                                    
their expenses, and we have not independently verified the information. Unless                                                      
otherwise indicated, the information provided is for the year ended December 31,                                                    
2003.                                                                                                                               

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continued from above:                                                                                                               

                                                                               State      State      State                          
                                              Morgan                State      Street     Street     Street     T. Rowe             
                        MetLife    MFS(R)     Stanley    Russell    Street     Research   Research   Research   Price               
                        Stock      Total      EAFE(R)    2000(R)    Research   Bond       Large Cap  Large Cap  Small Cap           
                        Index      Return     Index      Index      Aurora     Income     Growth     Value      Growth              
                        Portfolio  Portfolio  Portfolio  Portfolio  Portfolio  Portfolio  Portfolio  Portfolio  Portfolio           
                        ---------  ---------  ---------  ---------  ---------  ---------  ---------  ---------  ---------           
Management Fees         0.25%      0.50%      0.30%      0.25%      0.85%      0.40%      0.73%      0.70%      0.52%               

12b-1/Service Fees      0.00%      0.00%      0.00%      0.00%      0.00%      0.00%      0.00%      0.00%      0.00%               

Other Expenses(1)       0.06%      0.19%      0.41%      0.22%      0.08%      0.07%      0.07%      0.35%      0.11%               

Total Annual Portfolio                                                                                                              
Expenses                0.31%      0.69%      0.71%      0.47%      0.93%      0.47%      0.80%      1.05%      0.63%               
------------------------------------------------------------------------------------------------------------------------------------
Contractual Expense                                                                                                                 
Subsidy or Deferral     0.00%      0.00%      0.00%      0.00%      0.00%      0.00%      0.00%      0.10%      0.00%               
------------------------------------------------------------------------------------------------------------------------------------
Net Total Annual                                                                                                                    
Portfolio Expense(2)    0.31%      0.69%      0.71%      0.47%      0.93%      0.47%      0.80%      0.95%      0.63%               
------------------------------------------------------------------------------------------------------------------------------------

(1) Other Expenses may include amounts repaid to investment advisers or managers                                                    
pursuant to contractual arrangements for prior waivers or payment of portfolio                                                      
expenses. The amounts repaid per portfolio are: 0.03% for the Lord Abbett Bond                                                      
Debenture Portfolio; 0.02% for the PIMCO Total Return Portfolio; and 0.01% for                                                      
the Third Avenue Small Cap Value Portfolio.                                                                                         

(2) The Net Total Annual Portfolio Expenses have been restated to reflect                                                           
contractual arrangements in effect as of May 1, 2004, under which investment                                                        
advisers or managers of Funds have agreed to waive and/or pay expenses of the                                                       
portfolios. Each of these arrangements terminates on April 30, 2005 (excluding                                                      
optional extensions). Net Total Annual Portfolio Expenses have not been restated                                                    
to reflect expense reductions that certain investment portfolios achieved as a                                                      
result of directed brokerage arrangements. The Funds provided the information on                                                    
their expenses, and we have not independently verified the information. Unless                                                      
otherwise indicated, the information provided is for the year ended December 31,                                                    
2003.                                                                                                                               

continued below:                                                                                                                    
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continued from above:                                                                                                               

                                                           T. Rowe                                                                  
                        SCUDDER                            Price                                                                    
                        VARIABLE                           Growth                                                                   
                        SERIES I   International  T. ROWE  Stock                                                                    
                        (CLASS A)  Portfolio      PRICE    Fund                                                                     
                        ---------  ---------      -----    ----                                                                     
Management Fees                    0.88%                   0.57%                                                                    

12b-1/Service Fees                 0.00%                   0.00%                                                                    

Other Expenses(1)                  0.17%                   0.20%                                                                    

Total Annual Portfolio                                                                                                              
Expenses                           1.05%                   0.77%                                                                    
--------------------------------------------------------------------------------                                                    
Contractual Expense                                                                                                                 
Subsidy or Deferral                0.00%                   0.00%                                                                    
--------------------------------------------------------------------------------                                                    
Net Total Annual                                                                                                                    
Portfolio Expense(2)               1.05%                   0.77%                                                                    
--------------------------------------------------------------------------------                                                    

(1) Other Expenses may include amounts repaid to investment advisers or managers                                                    
pursuant to contractual arrangements for prior waivers or payment of portfolio                                                      
expenses. The amounts repaid per portfolio are: 0.03% for the Lord Abbett Bond                                                      
Debenture Portfolio; 0.02% for the PIMCO Total Return Portfolio; and 0.01% for                                                      
the Third Avenue Small Cap Value Portfolio.                                                                                         

(2) The Net Total Annual Portfolio Expenses have been restated to reflect                                                           
contractual arrangements in effect as of May 1, 2004, under which investment                                                        
advisers or managers of Funds have agreed to waive and/or pay expenses of the                                                       
portfolios. Each of these arrangements terminates on April 30, 2005 (excluding                                                      
optional extensions). Net Total Annual Portfolio Expenses have not been restated                                                    
to reflect expense reductions that certain investment portfolios achieved as a                                                      
result of directed brokerage arrangements. The Funds provided the information on                                                    
their expenses, and we have not independently verified the information. Unless                                                      
otherwise indicated, the information provided is for the year ended December 31,                                                    
2003.                                                                                                                               

================================================================================                                                    

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EXAMPLES                                                                        

THESE EXAMPLES ARE INTENDED TO HELP YOU COMPARE THE COST OF INVESTING IN THE    
CONTRACT WITH THE COST OF INVESTING IN OTHER VARIABLE ANNUITY CONTRACTS. THESE  
COSTS INCLUDE CONTRACT OWNER TRANSACTION EXPENSES, CONTRACT FEES, SEPARATE      
ACCOUNT ANNUAL EXPENSES, AND FUND FEES AND EXPENSES.                            

THE EXAMPLES ASSUME THAT YOU INVEST $10,000 IN THE CONTRACT FOR THE TIME PERIODS
INDICATED. THE EXAMPLES ALSO ASSUME THAT YOUR INVESTMENT HAS A 5% RETURN EACH   
YEAR AND ASSUME THE: A) MAXIMUM AND (B) MINIMUM FEES AND EXPENSES OF ANY OF THE 
FUNDS (BEFORE REIMBURSEMENT AND/OR WAIVER). ALTHOUGH YOUR ACTUAL COSTS MAY BE   
HIGHER OR LOWER, BASED ON THESE ASSUMPTIONS, YOUR COSTS WOULD BE:               

(1) IF YOU SURRENDER YOUR CONTRACT AT THE END OF THE APPLICABLE TIME PERIOD:    

TIME            TIME            TIME            TIME          
1 YEAR          3 YEAR          5 YEAR         10 YEAR          

(a) 990.25     (a) 1,495.24    (a) 2,098.58    (a) 2,941.93           
(b) 899.93     (b) 1,221.60    (b) 1,641.93    (b) 1,949.07           

(2) IF YOU DO NOT SURRENDER YOUR CONTRACT:                                      

TIME            TIME            TIME            TIME          
1 YEAR          3 YEAR          5 YEAR         10 YEAR          

(a) 264.20     (a)  810.90     (a) 1,382.97    (a) 2,931.93           
(b) 166.90     (b)  517.35     (b)   891.25    (b) 1,939.07           

(3) IF YOU ANNUITIZE AT THE END OF THE APPLICABLE TIME PERIOD:                  

TIME            TIME            TIME            TIME          
1 YEAR          3 YEAR          5 YEAR         10 YEAR          

(a) 274.20     (a)  820.90     (a) 1,392.97    (a) 2,941.93           
(b) 176.90     (b)  527.35     (b)   901.25    (b) 1,949.07           

The Examples should not be considered a representation of past or future        
expenses or annual rates of return of any Fund. Actual expenses and annual rates
of return may be more or less than those assumed for the purpose of the         
examples.                                                                       

 FINANCIAL AND PERFORMANCE INFORMATION

PERFORMANCE INFORMATION                                                         

We periodically advertise subaccount performance relating to the various Funds. 
We will calculate performance by determining the percentage change in the value 
of an accumulation unit by dividing the increase (decrease) for that unit by the
value of the accumulation unit at the beginning of the period. This performance 
number reflects the deduction of the Separate Account product charges and the   
Fund expenses. It does not reflect the deduction of any applicable transaction  
or transfer fee or surrender charge. The deduction of these charges would reduce
the percentage increase or make greater any percentage decrease. Any            
advertisement will also include total return figures which reflect the deduction
of the Separate Account product charges, account fees, surrender charges and the
transaction or transfer expenses.                                               

For periods starting prior to the date the Contract was first offered, the      
performance will be based on the historical performance of the corresponding    
Funds for the periods commencing from the date on which the particular Fund was 
made available through the Separate Account.                                    

In addition, for certain Funds performance may be shown for the period          
commencing from the inception date of the Fund. These figures should not be     
interpreted to reflect actual historical performance of the Separate Account.   

We may, from time to time, include in our advertising and sales materials,      
performance information for funds or investment accounts related to the Funds   
and/or their investment advisers or subadvisers. Such related performance       
information also may reflect the deduction of certain contract charges. We may  
also include in our advertising and sales materials, tax deferred compounding   
charts and other hypothetical illustrations, which may include comparisons of   
currently taxable and tax deferred investment programs, based on selected tax   
brackets.                                                                       

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[SIDE BAR: All performance numbers are based upon historical earnings. These    
numbers are not intended to indicate future results. Yields and average annual  
total returns are determined in accordance with the computation methods required
by the Securities and Exchange Commission (the "SEC") in the Form N-4           
Registration Statement. These methods are described in detail in the Statement  
of Additional Information.]                                                     

FINANCIAL INFORMATION                                                           

Financial Statements of the Separate Account and MetLife Investors USA are      
contained in the Statement of Additional Information. Please see the first page 
of this Prospectus for information on how to obtain a copy of the Statement.    

DESCRIPTION OF METLIFE INVESTORS USA INSURANCE COMPANY, THE GENERAL ACCOUNT, THE
SEPARATE ACCOUNT, THE FUNDS AND SERVICE PROVIDERS                               

THE INSURANCE COMPANY                                                           

MetLife Investors USA Insurance Company (MetLife Investors USA) is a stock life 
insurance company founded on September 13, 1960, and organized under the laws of
the State of Delaware. Its principal executive offices are located at 22        
Corporate Plaza Drive, Newport Beach, California 92660. MetLife Investors USA is
authorized to transact the business of life insurance, including annuities, and 
is currently licensed to do business in all states except New York and in the   
District of Columbia. MetLife Investors USA is a wholly-owned subsidiary of     
MetLife Investors Group, Inc. ("MLIG"). We changed our name to MetLife Investors
USA Insurance Company on February 12, 2001. On December 31, 2002, MetLife       
Investors USA became an indirect subsidiary of MetLife, Inc. (MetLife), the     
holding company of Metropolitan Life Insurance Company and a listed company on  
the New York Stock Exchange. MetLife is a leading provider of insurance and     
financial products and services to individual and group customers.              

We are a member of the Insurance Marketplace Standards Association ("IMSA").    
Companies that belong to IMSA subscribe to a set of ethical standards covering  
the various aspects of sales and service for individually sold life insurance   
and annuities.                                                                  

THE GENERAL ACCOUNT                                                             

All of the assets of MetLife Investors USA, except for those in the Separate    
Account and other segregated asset accounts, make up the assets of the General  
Account. You may allocate amounts to the General Account when you purchase your 
Contract or you may transfer amounts from the Separate Account at a later date. 
Amounts allocated to the General Account are credited with interest at an       
interest rate that is guaranteed by MetLife Investors USA. Instead of you       
bearing the risk of fluctuations in the value of the assets as is the case for  
amounts invested in the Separate Account, MetLife Investors USA bears the full  
investment risk for amounts in the General Account. MetLife Investors USA has   
sole discretion to invest the assets of the General Account, subject to         
applicable law. THE GENERAL ACCOUNT PROVISIONS OF THE CONTRACT ARE NOT INTENDED 
TO BE OFFERED BY THIS PROSPECTUS. Please see the terms of your                  
Certificate for more information.                                               

THE SEPARATE ACCOUNT                                                            

MetLife Investors USA established the Separate Account on May 29, 1980, in      
accordance with the Delaware Insurance Code. The purpose of the Separate Account
is to hold the variable assets that underlie the Contracts and some other       
variable annuity contracts that MetLife Investors USA offers. The Separate      
Account is registered with the SEC as a unit investment trust under the 1940    
Act.                                                                            

The assets of the Separate Account are held in MetLife Investors USA's name on  
behalf of the Separate Account and legally belong to MetLife Investors USA.     
Although the Separate Account, and each of the Series that make up the Separate 
Account, are considered as part of MetLife Investors USA's general business, the
Separate Account's assets are solely for the benefit of those who invest in the 
Separate Account and no one else, including MetLife Investors USA's creditors.  
All the income, gains and losses (realized and unrealized) resulting from these 
assets are credited to or charged against the Contracts issued from this        
Separate Account without regard to MetLife Investors USA's other business. Under
state law and the terms of the Contract, the assets of the Separate Account will
not be responsible for liabilities arising out of MetLife Investors USA's other 
business. Furthermore, MetLife Investors USA is obligated to pay all money it   
owes under the Contracts even if that amount exceeds the assets in the Separate 
Account. However, the amount of these payments is guaranteed only to the extent 
of the level amount calculated at the beginning of each annuity year.           

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The Separate Account is divided into a number of investment Series of           
Accumulation and Annuity Units. Thirty- four of these Series are available under
the Contracts as investment choices. Each Series invests in the shares of only  
one of the Funds.                                                               

THE FUNDS                                                                       

The following Funds are available as investment options under the contract. You 
should read the prospectuses for these funds carefully. Copies of these         
prospectuses will accompany or precede the delivery of your contract. You can   
obtain copies of the fund prospectuses by calling or writing to us at: MetLife  
Investors USA Insurance Company, P.O. Box 46539, Denver, CO 80201-6539, (800)   
238-4536. Certain Funds described in the portfolio prospectuses                 
may not be available with your contract. Appendix B contains a summary of       
investment objectives and the names of the subadviser, if any, for each Fund.   

THE ALGER AMERICAN FUND                                                         

The Alger American Fund is a mutual fund with multiple portfolios. Fred Alger   
Management, Inc. is the investment adviser to the fund. The following Class O   
portfolio is available under the Contract:                                      

Small Capitalization Portfolio (1)                                              

AMERICAN FUNDS INSURANCE SERIES(R)                                              

American Funds Insurance Series(r) is a mutual fund with multiple series, three 
of which are offered under the contract. Capital Research and Management Company
is the investment adviser to each series. The following Class 2 portfolios are  
available under the Contract:                                                   

Growth Fund                                                                     
Growth-Income Fund                                                              
Global Small Capitalization Fund                                                

FIDELITY VARIABLE INSURANCE PRODUCTS                                            

Fidelity Variable Insurance Products is a mutual fund with multiple             
portfolios, five of which are offered under the contract. Fidelity Management & 
Research Company (FMR) is the investment adviser to each of the portfolios. The 
following Initial Class portfolios are available under the Contract:            

VIP Asset Manager(SM) Portfolio (1)                                             
VIP Contrafund(R) Portfolio                                                     
VIP Growth Portfolio                                                            
VIP Money Market Portfolio                                                      
VIP Overseas Portfolio (2)                                                      

MET INVESTORS SERIES TRUST                                                      

Met Investors Series Trust is a mutual fund with multiple portfolios. Met       
Investors Advisory, LLC (Met Investors Advisory), an affiliate of MetLife       
Investors USA, is the investment manager of Met Investors Series Trust. Met     
Investors Advisory has engaged subadvisers to provide investment advice for the 
individual portfolios. The following Class A portfolios are available under the 
Contract:                                                                       

Met/AIM Small Cap Growth Portfolio                                              
J.P. Morgan Quality Bond Portfolio                                              
Lord Abbett Bond Debenture Portfolio                                            
Lord Abbett Growth and Income Portfolio                                         
MFS(R) Research International Portfolio                                         
PIMCO PEA Innovation Portfolio (formerly PIMCO Innovation Portfolio)            
PIMCO Total Return Portfolio                                                    
Third Avenue Small Cap Value Portfolio                                          

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METROPOLITAN SERIES FUND, INC.                                                  

Metropolitan Series Fund, Inc. is a mutual fund with multiple portfolios.       
MetLife Advisers, LLC (MetLife Advisers) is the investment adviser for all of   
the portfolios. MetLife Advisers is an affiliate of MetLife Investors USA,      
MetLife Advisers has engaged subadvisers to provide investment advice for the   
individual portfolios. The following Class A portfolios are available under the 
Contract:                                                                       

Davis Venture Value Portfolio                                                   
FI Mid-Cap Opportunities Portfolio                                              
Harris Oakmark Focused Value Portfolio                                          
Harris Oakmark Large Cap Value Portfolio                                        
Lehman Brothers(R) Aggregate Bond Index Portfolio                               
MetLife Mid-Cap Stock Index Portfolio                                           
MetLife Stock Index Portfolio                                                   
MFS(r) Total Return Portfolio                                                   
Morgan Stanley EAFE(R) Index Portfolio                                          
Russell 2000(R) Index Portfolio                                                 
State Street Research Aurora Portfolio                                          
State Street Research Bond Income Portfolio                                     
State Street Research Large Cap Growth (formerly Alger Equity Growth Portfolio) 
State Street Research Large Cap Value Portfolio                                 
T. Rowe Price Small Cap Growth Portfolio                                        

SCUDDER VARIABLE SERIES I                                                       

The Scudder Variable Series I is a mutual fund with multiple portfolios, one of 
which is offered under this contract. Deutsche Investment Management Americas   
Inc. ("DeIM") is the investment adviser for the portfolio. The following Class A
portfolio is available under the Contract:                                      

International Portfolio (1)                                                     

T. ROWE PRICE GROWTH STOCK FUND                                                 

The T. Rowe Price Growth Stock Fund is a mutual fund. T. Rowe Price Associates  
is the investment manager for the fund. (2)                                     

(1) Participant approval to substitute these portfolios was not obtained.       
(2) Not available for 403(b) Plans                                              

Each Series buys and sells shares of the corresponding Fund. These Funds        
invest in stocks, bonds and other investments. All dividends                    
declared by the Funds are earned by the Separate Account and reinvested.        
Therefore, no dividends are distributed to you under the Contract. Instead,     
dividends generally increase the Accumulation or Annuity Unit Value. You pay no 
transaction expenses (i.e., front-end or back-end load sales charges) as a      
result of the Separate Account's purchase or sale of these Fund shares.         

The Funds listed above are available only by purchasing annuities and life      
insurance policies offered by MetLife Investors USA or by other insurance       
companies and are never sold directly to the public. The shares of each Fund are
purchased, without sales charge, for the corresponding Series at the next net   
asset value per share determined by a Fund after your payment is received by    
MetLife Investors USA. Fund shares will be redeemed by the Series to the extent 
necessary for MetLife Investors USA to make annuity or other payments under the 
Contracts.                                                                      

Each of the Funds is a portfolio or series of an open-end management investment 
company registered with the SEC under the 1940 Act. Registration does not       
involve supervision by the SEC of the investment or investment policies of the  
Funds. There can be no guarantee that a Fund will meet its investment           
objectives.                                                                     

An investment adviser or subadviser of a Fund or its affiliates may compensate  
MetLife Investors USA and/or certain affiliates for administrative or other     
services relating to the Funds. The amount of this compensation is based on a   
percentage of assets of the Funds attributable to the Contracts and certain     
other variable insurance products that we and our affiliates issue. These       
percentages differ and some advisers (or other affiliates) may pay us more than 
others. These percentages currently range up to 0.40% of assets.                

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The Funds are available to other registered separate accounts offering variable 
annuity and variable life products in addition to MetLife Investors USA's       
Separate Account. In the future, a conflict may develop between one or more     
separate accounts invested in the same Fund. The conflict could develop due to  
change in the law affecting variable annuity products or from differences in    
voting instructions of owners of the different separate accounts. MetLife       
Investors USA monitors the Series for this type of conflict and will remedy the 
situation if such a conflict develops. This may include the withdrawal of       
amounts invested in the Funds by you and other Participants and Contract Owners.

[SIDE BAR: While the Series and their comparably named Funds may have names,    
investment objectives and management which are identical or similar to publicly 
available mutual funds, these are not those mutual funds. The Funds most likely 
will not have the same performance experience as any publicly available mutual  
fund.]                                                                          

 SUBSTITUTION OF FUND SHARES

MetLife Investors USA may substitute shares of another fund for fund shares     
directly purchased and apply future Purchase Payments under the Contracts to the
purchase of these substituted shares if the shares of a Fund are no longer      
available or further investment in such shares is determined to be inappropriate
by MetLife Investors USA's management in view of the purposes of the Contracts. 
The substituted fund may have different fees and expenses. However, no          
substitution is allowed unless a majority of the persons entitled to vote (those
who have invested in the Series) and the SEC approve the substitution.          
Furthermore, we may close Funds to allocation of purchase payments or Contract  
value, or both, at any time in our sole discretion.                             

[SIDE BAR: The Funds are more fully described in the Fund prospectuses and      
their Statements of Additional Information.             

PRINCIPAL UNDERWRITER                                                           

MetLife Investors Distribution Company (" Distributor"), 22 Corporate Plaza     
Drive, Newport Beach, California 92660, a broker-dealer registered under the    
Securities Exchange Act of 1934 and a member of the National Association of     
Securities Dealers, Inc., is the principal underwriter for the Contracts.       
Distributor is a Delaware corporation and a subsidiary of MLIG.                 

MetLife Investors USA has entered into a distribution agreement with MetLife    
Investors Distribution Company, for the distribution of the Certificates.       
Distributor and we have entered into a selling agreement with another           
broker-dealer ("selling firm") for the sale of Certificates. We pay compensation
to Distributor for sales of the Contracts and Certificates by the selling firm. 
Certain Funds (see "Fee Tables and Examples - Fund Expenses" and the Fund       
prospectuses) make payments to Distributor under their distribution plans in    
consideration of services provided and expenses incurred by Distributor in      
distributing shares of Funds. These payments range up to 0.25% of Separate      
Account assets invested in the particular Fund.                                 

We pay amounts to Distributor that may be used for its operating and other      
expenses, including the following sales expenses: compensation and bonuses for  
the Distributor's management team, advertising expenses, and other expenses of  
distributing the contracts. Distributor's management team also may be eligible  
for non-cash compensation items that we may provide jointly with Distributor.   
Non-cash items include conferences, seminars and trips (including travel,       
lodging and meals in connection therewith), entertainment, merchandise and other
similar items.                                                                  

The maximum commission payable for contract sales by the selling firm is 8.5% of
purchase payments. Because registered representatives of the selling firm are   
also agents thereof, they are eligible for various cash benefits, such as       
bonuses, insurance benefits and financing arrangements, and non-cash            
compensation programs that the selling firm offers, such as conferences, trips, 
prizes, and awards. In addition, the selling firm's sales representatives who   
meet certain productivity, persistency, and length of service standards and/or  
their managers may be eligible for additional compensation. Other payments may  
be made for other services that do not directly involve the sale of the         
Contracts and Certificates. These services may include the recruitment and      
training of personnel, production of promotional literature, and similar        
services.                                                                       

Commissions and other incentives or payments described above are not charged    
directly to Participants or the Separate Account. We intend to recoup           
commissions and other sales expenses through fees and charges deducted under the
Contracts and Certificates or from our general account.                         

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SERVICING AGENT                                                                 

MetLife Group, Inc. and Metropolitan Life Insurance Company provide MetLife     
Investors USA with personnel and administrative services, including: officers,  
office space, supplies, utilities, office equipment, travel expenses and        
periodic reports.                                                               

CUSTODIAN                                                                       

MetLife Investors USA is the custodian of the assets of the Separate Account.   
The assets of each Series will be physically segregated by MetLife Investors USA
and held separate from the assets of the other Series and of any other firm,    
person or corporation. The assets of the Separate Account are further protected 
by fidelity bonds which cover all of MetLife Investors USA's officers and       
employees.                                                                      

CONTRACT CHARGES

MetLife Investors USA deducts the charges described below, and we may also      
deduct a charge for taxes, if applicable. Unless otherwise specified, charges   
are deducted proportionately from all funding options in which you are invested.
These charges may not be changed under the Contract, and MetLife Investors USA  
may profit from these charges in the aggregate.                                 

PREMIUM TAXES                                                                   

Some states assess premium taxes on the Purchase Payments you make. Generally,  
premium taxes range from 0% to 3.5%, depending on the state. The Contracts      
permit MetLife Investors USA to deduct any applicable premium taxes from the    
Participant's Account at or after the time they are incurred. MetLife Investors 
USA currently does not deduct for these taxes at the time you make a Purchase   
Payment. However, MetLife Investors USA reserves our right to deduct the total  
amount of premium taxes, if any, from the Participant's Account when you elect  
to begin receiving Annuity payments (Annuitization).                            

SURRENDER CHARGE                                                                

No sales charge is deducted from any Purchase Payment. However, a surrender     
charge (contingent deferred sales charge) may be imposed on a partial or full   
surrender of the Participant's Account. During the accumulation phase, you can  
withdraw part or all of the Participant's Account. For 403(b) Plans only, in the
first surrender of each calendar year, you may surrender up to 10% of the value 
of your interest in the Separate Account without surrender charges, provided    
that the proceeds are paid solely to the Participant or the Beneficiary. If you 
withdraw money in excess of 10%, you might have to pay a surrender charge on the
excess amount. Withdrawals from 403(b) Plans may be restricted by the Internal  
Revenue Code.                                                                   

The following schedule shows the surrender charges that apply during the sixty  
months following each Purchase Payment:                                         

Number of Months Since Surrender
Purchase Payment Date Charge
     ----------------------        ---------
 60 months or less                7%

 More than 60 months              0%

The surrender charge is calculated by subtracting from the Series or General    
Account from which you are withdrawing a Purchase Payment an amount determined  
as follows:                                                                     

The Surrender Amount                
--------------------                
1 - the percentage surrender charge expressed as a decimal      

If you make a partial surrender, you will receive a check in the amount         
requested. The surrender charge, if any, will be deducted from the Series from  
which the partial surrender was taken. If the amount in a particular Series is  
completely surrendered, the charge will be taken from the remaining Series in   
which you have an interest.                                                     

[SIDE BAR: The surrender charge covers marketing expenses for the sale of       
   Contracts, such as commissions to sales personnel and other
promotion and acquisition expenses.]                    

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MetLife Investors USA will not deduct any surrender charge once 9 years have    
elapsed since your Certificate Date.                                            

EXCEPTIONS TO SURRENDER CHARGE                          

In some cases, MetLife Investors USA will not charge you the surrender charge   
when you make a withdrawal. You do not pay the surrender charge:                

-     on transfers made within the Contract;            

         -     on withdrawals of Purchase Payments you made over 60 months
ago;                                        

            -     If you die during the pay-in phase. Your Beneficiary(ies) will
     receive the full death benefit without deduction;

           -     If you are a 403(b) Plan Participant and you withdraw no more
   than 10% of your interest in any calendar year,
    (subject to Internal Revenue Code restrictions);

           -     If you are confined to a hospital for at least 30 consecutive
              days or a skilled nursing home for at least 90 consecutive
          days. The withdrawal must be in a lump sum and must be
                  requested within 60 days after termination of confinement; and

        -     When you are an officer, director or full time employee of
              MetLife Investors USA or its affiliates. In this case, the
                purchase of the Contract is for personal investment purposes
only.                                       

ADMINISTRATIVE FEES                                                             

An administrative fee of $21.50 plus $2.50 for each Series in which you have    
Accumulation Units is deducted from your Account on a yearly basis. The fee is  
prorated between Series in your Account based on their values on the date of the
deduction.                                                                      

Contract administration expenses include:                                       

-     the cost of policy issuance;                      
-     rent;                                             
-     stationery and postage;                           
-     telephone and travel expenses;                    
-     salaries;                                         
   -     legal, administrative, actuarial and accounting fees;
-     periodic reports; and                             
-     office equipment, and custodial expenses.         

The administrative fee will be waived for any                                   
Certificate Year during which you contribute Purchase Payments of $2,000 or more
or your Participant's Account is $10,000 or more at the end of the Certificate  
Year.                                                                           

TRANSACTION CHARGES                                                             

A $10 transaction charge will be deducted from your Account for each transfer   
from a Series (see "Transfers") and upon annuitizaton of all or a               
portion of your Account (see "Annuity Benefits"). When you make a               
full or partial surrender, a transaction charge will be deducted from your      
Account in an amount equal to the lesser of:                                    

-     $10 or                                                        
-     2% of the amount surrendered.                                 

These charges are at cost. MetLife Investors USA does not anticipate profiting  
from them. Transaction charges for transfers from one series of the Separate    
Account to another series of the Separate Account are currently waived. (See,   
however, "Description of the Contracts - Market Timing.")                       

MORTALITY AND EXPENSE RISK CHARGE                                               

MetLife Investors USA charges a fee for bearing certain mortality and expense   
risks under the policy. Examples of these risks include a guarantee of annuity  
rates, the death benefits, and assuming the risk that the expense charges and   
fees are less than actual administrative and operating expenses. As compensation
for assuming these risks, MetLife Investors USA will make a daily deduction from
the value of the Separate Account's assets equal to 1.25% per year.             

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If MetLife Investors USA has gains from the receipt of the mortality and expense
risk charges over its cost of assuming these risks, it may use the gains as it  
sees fit. This may include the reduction of expenses incurred in distributing   
the Contracts.                                                                  

MetLife Investors USA may voluntarily waive a portion of the mortality and      
administrative expense risk charges. Any waiver of these expenses may be        
terminated at any time.                                                         

DISTRIBUTION EXPENSE CHARGE                                                     

MetLife Investors USA also assumes the risk that surrender charges described    
above will be insufficient to cover the actual costs of distribution. These     
costs include:                                                                  

--     commissions,                                                             
--     fees,                                                                    
--     registration costs,                                                      
--     direct and indirect selling expenses (including advertising, sales       
  materials, illustrations, marketing personnel, printing, and related
overhead)                                                         

As compensation for assuming this risk, MetLife Investors USA will make a       
deduction of .000274% on a daily basis (0.10% per year) from the value of the   
Separate Account assets funding the Contract (the staff of the Securities and   
Exchange Commission deems this charge a deferred sales charge). The distribution
expense charge (sales load), together with any contingent deferred sales charge 
imposed as described on page ___ above, will never exceed 9% of purchase        
payments.                                                                       

FEDERAL, STATE AND LOCAL TAXES                                                  

MetLife Investors USA may in the future deduct charges from the Participant's   
Account for any taxes it incurs because of the Contracts. However, no deductions
are being made at the present time.                                             

[SIDE BAR: Please note that deductions are made and expenses paid out of        
          the underlying Funds' assets, as well. A description of these fees
and expenses are described in each Fund's prospectus.   

FREE LOOK PERIOD                                                                

You may cancel your interest in the Contract within a certain time period. This 
is known as a "free look." Your Free Look Period is the 20-day period (or longer
in certain states) starting when you receive your Certificate. If you decide to 
cancel your interest in the Contract, MetLife Investors USA must receive your   
request to cancel in writing at its administrative office within the 20-day     
period. If the Certificate is mailed to MetLife Investors USA, it will be       
considered to be received on the postmark date. If the Certificate is sent by   
certified or registered mail, the date of certification or registration will be 
considered the date of its return to MetLife Investors USA.                     

The returned Certificate will be treated as if MetLife Investors USA never      
issued it, and MetLife Investors USA will refund your Purchase Payments or, if  
required by state law, the greater of the Purchase Payments or the Participant's
Account. Purchase Payments that you make to the Separate Account will be        
allocated to the Money Market Portfolio for the number of days of the Free Look 
Period required by the state in which you live. At the end of the Free Look     
Period, the account value in the Money Market Portfolio will be reallocated to  
the Series of the Separate Account that you selected in your Contract           
application.                                                                    

DEFERRED COMPENSATION PLANS                                                     

For qualified Section 457 deferred compensation Plans, MetLife Investors USA may
agree to reduce or waive the administrative fees, transaction charges, and the  
distribution expense fee. Also, deductions for sales charges may be reduced or  
waived if a surrender is the result of your:                                    

--     death,                                                                   
--     disability,                                                              
--     retirement,                                                              
--     termination of employment,                                               
--     financial hardship, or                                                   
--     transfer to another investment provider.                                 

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DESCRIPTION OF THE CONTRACTS

GENERAL                                                                         

The Contracts (known as the Flexible Bonus Annuity, Form 226R1) are group       
contracts designed to provide annuity benefits to employees of the following:   

--     Public School Systems;                                                   
--     Churches;                                                                
--     Certain tax-exempt organizations under Section 501(c)(3) of the Code;    
--     Employees covered under various types of Section 457 deferred            
compensation Plans; and                                           
--     Retirement plans held by trusts which qualify under Section 401 of the   
Code.                                                             

The Contracts are designed to fulfill long-term financial needs. They should not
be considered as short-term or temporary investments.                           

A group Contract is issued to an employer or organization which is the Owner.   
This Contract covers all present and future Participants. After completing an   
enrollment form and arranging for Purchase Payments to begin, you and all other 
Participants will receive a Certificate that gives you a summary of the Contract
provisions. This Certificate also serves as evidence of your participation in   
the Plan. PLEASE NOTE THAT NO CERTIFICATES ARE ISSUED TO PARTICIPANTS UNDER     
DEFERRED COMPENSATION OR QUALIFIED CORPORATE RETIREMENT PLANS.                  

The group Contracts may be restricted by the Plan as to your exercise of certain
rights provided in the Contracts. You should refer to the Plan for information  
concerning these restrictions.                                                  

ASSIGNMENT                                                                      

If permitted by the Plan, you may assign your interest in the Contract by       
providing MetLife Investors USA with written notice. Where a Contract is issued 
in connection with a deferred compensation plan, all rights and powers under the
Contract are vested in the Owner, not you.                                      

PURCHASE PAYMENTS                                                               

You may make Purchase Payments yearly, semi-yearly, quarterly, monthly, or in   
periods agreed to by MetLife Investors USA. You may change when you make        
Purchase Payments if permitted by the Plan. The minimum Purchase Payment is $20,
with a yearly minimum of $240 (or such lesser amount as is required by federal  
tax law). Purchase Payments may be allocated to the Separate Account, the       
General Account, or between them according to your decision). You will          
periodically receive a confirmation of Purchase Payments which have been        
received.                                                                       

TRANSFERS                                                                       

ACCUMULATION UNITS                                              

Except as otherwise limited under market timing restrictions, you may transfer  
Accumulation Units among the Funds or to the General Account at any time. You   
may not make a transfer from the General Account to Accumulation Units of more  
than 20% of your interest in the General Account in any one year.               

Your transfer instructions must be in writing or, if permitted by MetLife       
Investors USA, by telephone, Internet or other means approved by MetLife        
Investors USA. If MetLife Investors USA permits Accumulation Units to be        
transferred by telephone, you will be required to complete an authorization on  
the contract application or on another form that MetLife Investors USA will     
require. MetLife Investors USA will employ reasonable procedures to confirm that
telephone or Internet instructions are genuine. This will include a requirement 
that you provide one or more forms of personal identification when requesting a 
transfer. MetLife Investors USA will not be liable for following instructions it
reasonably believes to be genuine.                                              

Because telephone or Internet transactions will be available to anyone who      
provides certain information about you or your Contract, you should protect that
information. We may not be able to verify that you are the person providing     
telephone or Internet instructions, or that you have authorized any such person 
to act for you.                                                                 

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Telephone or computer systems may not always be available. Any telephone or     
computer system, whether it is your, your service provider's, your Financial    
Advisor's, or ours, can experience outages or slowdowns for a variety of        
reasons. These outages or slowdowns may delay or prevent our processing of your 
request. Although we have taken precautions to help our systems handle heavy    
use, we cannot promise complete reliability under all circumstances. If you are 
experiencing problems, you should make your request in writing to MetLife       
Investors USA Insurance Company, P.O. Box 46539, Denver, CO 80201-6539.         

Your Accumulation Units will be transferred on the first valuation after receipt
of written, telephone or Internet instructions. Accumulation Unit values are    
determined at the close of trading on the New York Stock Exchange, which is     
currently 4:00 p.m. Eastern time. If your transfer instructions are received up 
to that time your transfer will be effected at the value calculated on that     
date. If your instructions are received after the close of trading on a         
valuation day, your transfer instructions will be carried out at the value next 
calculated.                                                                     

ANNUITY UNITS                                                   

You may transfer Annuity Units among the Series at any time. You may not        
transfer Annuity Units to the General Account. However, any amounts that you    
have in the General Account that have not been applied to a fixed annuity income
option may be transferred to Annuity Units in one or more Series for a variable 
payout. Transfers of Annuity Units may only be requested in writing and will be 
effective on the first valuation following receipt of the instructions.         

MINIMUM TRANSFER                                                

A minimum of $500 must be transferred from any Series or from the General       
Account. The value of the Accumulation and Annuity Units transferred will be    
calculated as of the close of business on the day that the transfer occurs.     

MARKET TIMING                                                                   

We have policies and procedures that attempt to detect transfer activity that   
may adversely affect other Participants or Funds in situations where there is   
potential for pricing inefficiencies or that involve relatively large single or 
grouped transactions by one or more Participants (i.e., market timing). We      
employ various means to try to detect such transfer activity. We may revise     
these policies and procedures in our sole discretion at any time without prior  
notice.                                                                         

The detection and deterrence of harmful transfer activity involves judgments    
that are inherently subjective. Our ability to detect such transfer activity may
be limited by operational and technological systems, as well as our ability to  
predict strategies employed by Participants to avoid such detection. Our ability
to restrict such transfer activity may be limited by provisions of the Contract.
We apply our policies and procedures without exception, waiver, or special      
arrangement, although we may vary our policies and procedures among our variable
contracts and Series and may be more restrictive with regard to certain         
contracts or Series than others. Accordingly, there is no assurance that we will
prevent all transfer activity that may adversely affect Participants or Fund    
shareholders. In addition, we cannot guarantee that the Funds will not be harmed
by transfer activity related to other insurance companies and/or retirement     
plans that may invest in the Funds.                                             

Our policies and procedures may result in restrictions being applied to         
Participant(s). These restrictions may include:                                 

  -        requiring you to send us by U.S. mail a signed, written
request to make transfers;                  
   -        charging a transfer or collecting a Fund redemption fee;
    -        denying a transfer request from an authorized third party
  acting on behalf of multiple Participants; and
-        imposing other limitations and modifications where we
                  determine that exercise of the transfer privilege may create a
    disadvantage to other Participants or the Funds.

If restrictions are imposed on a Participant, we will reverse upon discovery any
transaction inadvertently processed in contravention of such restrictions. In   
accordance with applicable law, we reserve the right to modify or terminate the 
transfer privilege at any time. We also reserve the right to defer or restrict  
the transfer privilege at any time that we are unable to purchase or redeem     
shares of any of the Funds, including any refusal or restriction on purchases or
redemptions of their shares as a result of their own policies and procedures on 
market timing activities. You should read the Fund prospectuses for more        
details.                                                                        

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LOANS - 403(b) PLANS ONLY                                                       

If you are in a 403(b) Plan, you may obtain a loan under the Contract from the  
part your Account allocated to the General Account. Accumulation Units in the   
Separate Account are taken into account in determining the maximum amount of the
loan. You would then be permitted to transfer Accumulation Units from the       
Separate Account to the General Account before the loan is made. Your Account   
serves as the only security for the loan. MetLife Investors USA may terminate a 
loan at its discretion in the event of a request for surrender.                 

The Internal Revenue Code imposes limits on the amounts, duration, and repayment
schedule for all 403(b) plan loans. If the Plan is subject to the requirements  
of Title 1 of the Employee Retirement Income Security Act of 1974, eligibility  
for, and the terms and conditions of the loan may be further limited by the     
terms of the Plan and will be determined by the plan administrator or other     
designated Plan official.                                                       

Loan proceeds may cause you to incur tax liability (see "Federal Tax            
Considerations").                                                               

MetLife Investors USA may modify or terminate the granting of loans at any time,
provided that any modification or termination will not affect outstanding loans.

Fees may be charged for loan set-up and administration. Currently, the loan     
set-up fee is $50. This amount is deducted from the proceeds. At this time,     
there is no fee for administration.                                             

MODIFICATION OF THE CONTRACTS                                                   

MetLife Investors USA must make Annuity payments involving life contingencies at
no less than the minimum guaranteed Annuity rates incorporated into the         
Contracts, even if actual mortality experience is different.                    

MetLife Investors USA is legally bound under the Contract to maintain these     
Annuity purchase rates. MetLife Investors USA must also abide by the Contract's 
provisions concerning:                                                          

-     death benefits                                                
-     deductions from Purchase Payments                             
-     deductions from Participant's Accounts for transaction charges
-     deductions from the Separate Account for actuarial risk and   
administrative expense risk fees                        
-     guaranteed rates with respect to fixed benefits               

MetLife Investors USA may change such provisions without your consent to the    
extent permitted by the Contract, but only:                                     

          -     with respect to any Purchase Payments received as a tax free
           transfer under the Code after the effective date of the
change;                                     

      -     with respect to benefits and values provided by Purchase
               Payments made after the effective date of the change to the
              extent that such Purchase Payments in any Certificate Year
 exceed the first year's Purchase Payments; or

            -     to the extent necessary to conform the Contract to any Federal
or state law, regulation or ruling.         

If you have any questions about any of the provisions of your Contract, you may 
write or call:                                                                  

       MetLife Investors USA Insurance Company
P.O. Box 46539                  
Denver, CO 80201-6539           
Phone: (800) 283-4536           

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 ACCUMULATION PERIOD

CREDITING ACCUMULATION UNITS IN THE SEPARATE ACCOUNT                            

MetLife Investors USA will credit Accumulation Units to a Series upon receipt of
your Purchase Payment or transfer. MetLife Investors USA determines the number  
of Accumulation Units to be credited to a Series by dividing the net amount     
allocated to a Series out of your Purchase Payment by the value of an           
Accumulation Unit in the Series next computed following receipt of the Purchase 
Payment or transfer.                                                            

SEPARATE ACCOUNT ACCUMULATION UNIT CURRENT VALUES                               

The current value of Accumulation Units of a particular Series depends upon the 
investment experience of the Fund in which the Series invests its assets. The   
value of Accumulation Units is determined each business day at the close of     
trading on the New York Stock Exchange (currently 4:00 p.m. Eastern time ). The 
value is calculated by multiplying the value of an Accumulation Unit in the     
Series on the immediately preceding valuation date by the net investment factor 
for the period since that day. You bear the risk that the aggregate current     
value invested in the Series may at any time be less than, equal to or more than
the amount that you originally allocated to the Series.                         

[Side Bar:  The NET INVESTMENT FACTOR is an index of the percentage change      
        (adjusted for distributions by the Fund and the deduction of the
            administration fee, mortality and expense risk fee) in the net asset
            value of the Fund in which a Series is invested, since the preceding
        Valuation Date. The net investment factor may be greater or less
than 1 depending upon the Fund's investment performance.

SURRENDER FROM THE SEPARATE ACCOUNT                                             

You may surrender all or a portion of the cash value of your Participant's      
Account at any time prior to the Annuity Date. A surrender may result in adverse
federal income tax consequences to you including current taxation on the        
distribution and a penalty tax on the early withdrawal. These consequences are  
discussed in more detail under "Federal Tax Considerations." You                
should consult your tax adviser before making a withdrawal.                     

The cash value of your interest in the Separate Account prior to the Annuity    
Date is determined by multiplying the number of Accumulation Units for each     
Series credited to your Contract by the current value of an Accumulation Unit in
the Series and subtracting any applicable surrender charges. MetLife Investors  
USA will determine the value of the number of Accumulation Units withdrawn at   
the next computed Accumulation Unit value.                                      

If you request a partial surrender from more than one Series you must specify   
the allocation of the partial surrender among the Series. You may not make a    
partial surrender if a withdrawal would cause your interest in any Series or the
General Account to have an after surrender value of less than $200.             

However, if you are withdrawing the entire amount allocated to a Series these   
restrictions do not apply.                                                      

PAYMENT OF SURRENDER AMOUNT                                                     

Payment of any amount surrendered from a Series will be made to you within seven
days of the date that MetLife Investors USA receives your written request.      

MetLife Investors USA may suspend surrenders when:                              

         -     The SEC restricts trading on the New York Stock Exchange or
               the Exchange is closed for other than weekends or holidays.

-     The SEC permits the suspension of withdrawals.    

    -     The SEC determines that an emergency exists that makes
                  disposal of portfolio securities or valuation of assets of the
Funds not reasonably practicable.           

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ACCOUNT STATEMENTS                                                              

You will receive a written account statement each calendar quarter in which a   
transaction occurs before the Annuity Date. Even if you do not engage in any    
transactions you will receive at least one written account statement per year.  
The statement shows:                                                            

-     all transactions for the period being reported    

        -     the number of Accumulation Units that are credited to your
Contract in each Series                     

 -     the current Accumulation Unit value for each Series

       -     your Participant's Account as of the end of the reporting
period                                      

MetLife Investors USA is careful to ensure the accuracy of calculations and     
transfers to and within the Separate Account. However, errors may still occur.  
You should review your statements and confirmations of transactions carefully   
and promptly advise MetLife Investors USA of any discrepancy. Allocations and   
transfers reflected in a statement will be considered final at the end of 60    
days from the date of the statement.                                            

ANNUITY BENEFITS

VARIABLE ANNUITY PAYMENTS                                                       

Your interest in the Series is applied to provide you with a Variable Annuity.  
The dollar amount of the Variable Annuity payments that you receive will reflect
the investment experience of the Series, but will not be affected by adverse    
mortality experience which may exceed the mortality risk charge established     
under the Contract.                                                             

ASSUMED INVESTMENT RETURN                                                       

Unless you elect otherwise, the Assumed Investment Return is 4.25% per year. If 
the laws and regulations of your State allow, you may elect an Assumed          
Investment Return of 3.50%, 5% or 6%. The Assumed Investment Return does not    
bear any relationship to the actual net investment experience of the Series.    

Your choice of Assumed Investment Return affects the pattern of your Annuity    
payments. Your Annuity payments will vary from the Assumed Investment Return    
depending on whether the investment experience of the Series in which you have  
an interest is better or worse than the Assumed Investment Return. The higher   
your Assumed Investment Return, the higher your first Annuity payment will be.  
Your next payments will only increase in proportion to the amount the investment
experience of your chosen Series exceeds the Assumed Investment Return and      
Separate Account charges. Likewise, your payments will decrease if the          
investment experience of your chosen Series is less than the Assumed Investment 
Return and Separate Account charges. A lower Assumed Investment Return will     
result in a lower initial Annuity payment, but subsequent Annuity payments will 
increase more rapidly or decline more slowly as changes occur in the investment 
experience of the Series. Conversely, a higher Assumed Investment Return would  
result in a higher initial payment than a lower Assumed Investment Return, but  
later payments will rise more slowly or fall more rapidly.                      

ELECTION OF ANNUITY DATE AND FORM OF ANNUITY                                    

You choose the Annuity Date and the form of Annuity payment.                    

ELECTION OF ANNUITY DATE                                                        

If you do not choose an Annuity Date at least thirty-one days before            
Annuitization, your Normal Annuity Date automatically will be the later of:     

-     the month in which you attain age 75, or          

        -     the date you are required to take a distribution under the
       terms of the Plan to which the Contract was issued.

You may select an optional Annuity Date that is earlier than the Normal Annuity 
Date described above. This Annuity Date may be the first day of any month before
the Normal Annuity Date.                                                        

Please note that the Qualified Contracts may require a different Normal Annuity 
Date and may prohibit the selection of certain optional Annuity Dates.          

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FORM of ANNUITY                                                                 

[SIDE BAR: There are two people who are involved in payments under your Annuity:

-     you                                               
-     the Beneficiary                                   

Currently, MetLife Investors USA provides you with five forms of Annuity        
payments. Each Annuity payment option, except Option 5, is available on both a  
Fixed and Variable Annuity basis. Option 5 is available on a Fixed basis only.  

OPTION 1 - LIFE  ANNUITY                                                        

You receive Annuity payments monthly during your lifetime. These payments stop  
with the last payment due before your death. Because MetLife Investors USA does 
not guarantee a minimum number of payments under this arrangement, this option  
offers the maximum level of monthly payments, involving a life contingency.     

OPTION 2 - LIFE ANNUITY WITH 120, 180, OR 240 MONTHLY PAYMENTS CERTAIN          

You receive a guaranteed minimum number of monthly Annuity payments during your 
lifetime. In addition, MetLife Investors USA guarantees that your Beneficiary   
will receive monthly payments for the remainder of the period certain, if the   
Annuitant dies during that period.                                              

OPTION 3 - INSTALLMENT REFUND LIFE ANNUITY                                      

An Annuity payable monthly during the lifetime of an individual. You receive a  
guaranteed minimum number of monthly payments which are equal to the amount of  
your Participant's Account allocated to this option divided by the first monthly
payment. If you die before receiving the minimum number of payments, the        
remaining payments will be made to your Beneficiary.                            

OPTION 4 - JOINT AND LAST SURVIVOR LIFE ANNUITY                                 

You receive Annuity payments monthly during the lifetime of you and another     
payee (the joint payee) and payments are made during the lifetime of the        
survivor of the two of you. MetLife Investors USA stops making payments with the
last payment before the death of the last surviving payee. MetLife Investors USA
does not guarantee a minimum number of payments under this arrangement. For     
example, you or the other payee might receive only one Annuity payment if both  
of you die before the second Annuity payment. The election of this option is    
ineffective if either of you dies before Annuitization. In that case, the       
survivor becomes the sole payee, and MetLife Investors USA does not pay death   
proceeds because of the death of the other payee.                               

OPTION 5 - PAYMENTS FOR A DESIGNATED PERIOD (FIXED ANNUITY ONLY)                

MetLife Investors USA makes Annuity payments monthly to you or to the           
Beneficiary at your death, for a selected number of years ranging from five to  
thirty. The amount of each payment will be based on an interest rate determined 
by MetLife Investors USA that will not be less than an assumed rate of return of
3.50% per year. You may not commute Fixed Annuity payments to a lump sum under  
this option.                                                                    

If you do not choose a form of Annuity payment, Option 2, a life annuity with a 
guaranteed minimum of 120 monthly payments, will automatically be applied to    
your Contract. You may make changes in the optional form of Annuity payment at  
any time until 31 days before the Annuity date.                                 

The first year's Annuity payment described in Options 1 - 4 are calculated on   
the basis of:                                                                   

-     the mortality table specified in the Contract     
  -     the age and where permitted the sex of the Annuitant
-     the type of Annuity payment option selected, and  
-     the assumed investment return selected.           

The fixed Annuity payments described in Option 5 are calculated on the basis of:

-     the number of years in the payment period, and    
      -     the interest rate guaranteed with respect to the option.

Fixed Annuities are funded through the General Account of MetLife Investors USA.

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FREQUENCY OF PAYMENT                                                            

Your payments under all options will be made on a monthly basis unless you and  
MetLife Investors USA have agreed to a different arrangement.                   

Payments from each Series must be at least $50 each. If a payment from a Series 
will be less than $50, MetLife Investors USA has the right to decrease the      
frequency of payments so that each payment from a Series will be at least $50.  

LEVEL PAYMENTS VARYING ANNUALLY                                                 

Your variable Annuity payments are determined yearly rather than monthly. As a  
result, you will receive a uniform monthly Annuity payment for each Annuity     
year. The level of payments for each year is based on the investment performance
of the Series up to the Valuation Date as of which the payments are determined  
for the year. As a result, the amounts of the Annuity payments will vary with   
the investment performance of the Series from year to year rather than from     
month to month. Your monthly variable Annuity payments for the first year will  
be calculated on the last Valuation Date of the second calendar week before the 
Annuity date. The amount of your monthly variable Annuity payments will be      
calculated using a formula described in the Contract. On each anniversary of the
Annuity date, MetLife Investors USA will determine the total monthly payments   
for the year then beginning. These payments will be determined by multiplying   
the number of Annuity units in each Series from which payments are to be made by
the annuity unit value of that Series for the valuation period in which the     
first payment for that period is due.                                           

After calculating the amount due to you, MetLife Investors USA transfers the    
amount of the year's Variable Annuity payments to a General Account at the      
beginning of the year. Although the amount in the Separate Account is credited  
to you and transferred to the General Account, you do not have any property     
rights in this amount. You do have a contractual right to receive your Annuity  
payments.                                                                       

The monthly Annuity payments for the year are made from the General Account with
interest using the standard assumed investment return of 4.25% or the Assumed   
Investment Return that you selected. As a result, MetLife Investors USA will    
experience profits or losses on the amounts placed in the General Account in    
providing level monthly payments to you during the year that meet the Assumed   
Investment Return that you selected. For example, if the net investment income  
and gains in the General Account are lower than the Assumed Investment Return   
selected, MetLife Investors USA will experience a loss.                         

You will not benefit from any increases or be disadvantaged from any decreases  
in any Annuity Unit Values during the year because the Annuity payments for that
year are set at the beginning of the year. These increases and decreases will be
reflected in the calculation of Annuity payments for the following year.        

ANNUITY UNIT VALUES                                                             

This is how MetLife Investors USA calculates the Annuity Unit Value for each    
Series:                                                                         

   -     First, MetLife Investors USA determines the change in
           investment experience (including any investment-related
                 charge) for the underlying Fund from the previous trading day
to the current trading day.                 

-     Next, it subtracts the daily equivalent of your   
                insurance-related charge (general administrative expense and
              mortality and expense risk charges) for each day since the
   last day the Annuity Unit Value was calculated.

         -     Then, it divides the result by the quantity of one plus the
        weekly equivalent of your Assumed Investment Return.

            -     Finally, the previous Annuity Unit Value is multiplied by this
result.                                     

DEATH BENEFITS

DEATH BEFORE THE ANNUITY DATE                                                   

If you die before the Annuity Date, your Beneficiary(ies) will receive a death  
benefit that is equal to the Participant's Account.                             

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If you are younger than age 65 at the time of your death, your Beneficiary(ies) 
will be entitled to receive a lump sum settlement equal to the greater of:      

        -     your Purchase Payments less partial withdrawals or amounts
already applied to Annuity payments; or     

-     your Participant's Account.                       

Your Beneficiary(ies) receive the death benefit as either:                      

        1)    A lump sum that must be made within five (5) years of your
death; or                                   

          2)    Annuity income under Annuity Income Options One, Two or Five
described in Article 7 of the Contract.     

If your Beneficiary(ies) chooses one of the Annuity income options:             

           -     Payments must begin within one year of your death
                        (However, your spouse may delay commencement of payments
                to the date that you would have reached 70 1/2.)

                  -     The guaranteed period under Option Two or the designated
                   period under Option Five may not be longer than the
                     Beneficiary's life expectancy under applicable tables
          specified by the Internal Revenue Service.

            -     The Participant's Account on the date of the first
                       Annuity payment will be used to determine the amount of
the death benefit.              

If your spouse is your sole Beneficiary, he or she may choose to succeed to your
rights as Participant rather than to take the death benefit.                    

If you have more than one Beneficiary living at the time of your death, each    
will share the proceeds of the death benefit equally unless you elect otherwise.

If you outlive all of your Beneficiaries, the death benefit will be paid to your
estate in a lump sum. No Beneficiary shall have the right to assign or transfer 
any future payments under the Options, except as provided in the election or by 
law.                                                                            

You will also be considered to have outlived your Beneficiary(ies) in the       
following situations:                                                           

 -     Your Beneficiary(ies) and you die at the same time.

         -     Your Beneficiary(ies) dies within 15 days of your death and
            proof of your death is received by MetLife Investors USA
before the date due.                        

Proof of death includes a certified death certificate, or attending physician's 
statement, a decree of a court of competent jurisdiction as to the finding of   
death, or other documents that MetLife Investors USA agrees to accept as proof  
of death.                                                                       

DEATH AFTER THE ANNUITY DATE                                                    

If the Annuitant dies on or after the Annuity Date, the amounts payable to the  
Beneficiary(ies) or other properly designated payees will consist of any        
continuing payments under the Annuity Payment option in effect. In this case,   
the Beneficiary will:                                                           

            -     have all the remaining rights and powers under a Contract, and

         -     be subject to all the terms and conditions of the Contract.

If none of your Beneficiaries survive the Annuitant, the value of any remaining 
payments certain on the death of Annuitant, calculated on the basis of the      
assumed investment return that you previously chose, will be paid in a lump sum 
to the Annuitant's estate unless other provisions have been made and approved by
MetLife Investors USA. This value is calculated on the next day of payment      
following receipt of due proof of death.                                        

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Unless otherwise restricted, a Beneficiary receiving variable payments under    
Option Two or Three may elect at any time to receive the present value of the   
remaining number of Annuity payments certain in a lump sum payment after the    
death of an Annuitant. The present value of the remaining Annuity payments will 
be calculated on the basis of the assumed investment return previously selected.
This lump sum payment election is not available to a Beneficiary receiving Fixed
Annuity payments.                                                               

FEDERAL TAX CONSIDERATIONS

Federal Tax Considerations                                                      

The following general discussion of the federal income tax consequences under   
this Contract is not intended to cover all situations, and is not meant to      
provide tax advice. Because of the complexity of the law and the fact that the  
tax results will vary depending on many factors, you should consult your tax    
adviser regarding your personal situation. Additional tax information is        
included in the SAI. (Neither this Prospectus nor the SAI addresses state, local
or foreign tax matters.)                                                        

GENERAL TAXATION OF ANNUITIES                                                   

Congress has recognized the value of saving for retirement by providing certain 
tax benefits, in the form of tax deferral, for money put into an annuity. The   
Internal Revenue Code (the "Code") governs how this money is ultimately taxed.  
There are different rules for Qualified and Non-qualified Contracts and         
depending on how the money is distributed, as briefly described below.          

You generally will not be taxed on increases in the value of your Contract until
a distribution occurs - either as a withdrawal or as an Annuity payment. This   
concept is known as tax deferral. In addition, MetLife Investors USA will not be
taxed on the investment income and capital gains of the Separate Account.       

In some circumstances, owners of variable annuity contracts who retain excessive
control over the investment of the underlying separate account assets may be    
treated as the owners of those assets and may be subject to tax on income       
produced by those assets. Although published guidance in this area does not     
address certain aspects of the contracts, we believe that the owner of a        
contract should not be treated as the owner of the separate account assets. We  
reserve the right to modify the contract to bring it into conformity with       
applicable standards should such modification be necessary to prevent an owner  
of the contract from being treated as the owner of the underlying separate      
account assets.                                                                 

[SIDE BAR: A QUALIFIED CONTRACT is a Contract that is purchased for certain     
     types of tax-advantaged retirement plans (previously defined as
"qualified plans").                                       

For purposes of this Prospectus, qualified plans include:           

  - SECTION 401 PLANS and 403(a)(pension and profit-sharing plans,
including plans for the self-employed)                                          

- SECTION 403(b) PLANS (tax-deferred annuities)               

       - SECTION 457(b) PLANS (eligible deferred compensation plans of State
and local governmental employees or other tax exempt employees)( "eligible      
Section 457 plan")                                                              

     - TRADITIONAL INDIVIDUAL RETIREMENT ACCOUNTS AND ANNUITIES ("IRAs")

- ROTH IRAs                                                   

A NON-QUALIFIED CONTRACT is a Contract that is purchased on an individual basis 
with after-tax dollars and not under one of the programs listed above in the    
description of a Qualified Contract.]                                           

[SIDE BAR: Please note that the terms of your particular plan, IRA or Roth      
        IRA may limit your rights otherwise available under the Contract.]

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QUALIFIED CONTRACTS                                                             

[SIDE BAR: THE DOLLARS IN A QUALIFIED PLAN ARE TAX DEFERRED. CONTRACTS PURCHASED
FOR USE WITH A QUALIFIED PLAN PROVIDE NO ADDITIONAL TAX DEFERRAL, AND THERE     
SHOULD BE REASONS OTHER THAN TAX DEFERRAL FOR PURCHASING THE CONTRACT.]         

The full amount of all distributions received from a Section 401, Section       
403(a), 403(b), eligible Section 457 plan or IRA (except for a return of        
non-deductible employee or IRA contributions) are generally included in your    
gross income and are taxed at ordinary income rates unless the distribution is  
transferred in an eligible rollover. In certain cases, distributions received   
from a Roth IRA are also included in gross income.                              

Generally, distributions are included in your income in the year in which they  
are paid. However, in the case of an eligible Section 457 plan of a tax exempt  
employer (other than a state or local government), a distribution is includible 
in the year it is paid or when it is made available, depending upon whether     
certain Code requirements are met. In very limited situations, a lump sum       
distribution from a Section 401 plan may qualify for special tax treatment,     
including special forward income averaging, special long term capital gain      
treatment or deferral with respect to net unrealized appreciation.              

If your tax deferred annuity contract permits loans, the amount of such loans,  
the repayment terms and the treatment of defaults are subject to limitations and
rules under section 72(p) of the Code and the regulations thereunder. The terms 
of your loan will be governed by you loan agreement and the requirements of the 
tax law (and ERISA, where applicable). Failure to satisfy these requirements    
will result in adverse tax consequences. Consult your tax advisor prior to      
applying for a loan.                                                            

MANDATORY MINIMUM DISTRIBUTIONS                                       

If you are a participant in a Section 401, Section 403(a), 403(b), eligible     
Section 457 plan or an IRA, you generally must begin receiving withdrawals from 
your Contract Value or Annuity payments for life or a period not exceeding the  
life expectancy of you or you and a beneficiary by April 1 of the calendar year 
following the year you turn 70-1/2 (or, except in the case of IRAs or where you 
are a 5% or more owner in your employer, the year you retire, if later).        

In addition, distributions under Section 401, 403(b) and eligible Section 457   
plans and IRAs must satisfy the minimum incidental death benefit requirements of
the Code, which impose additional minimum distribution requirements during life.
However, if the distributions described in the preceding paragraph are made to  
you over your life expectancy or the joint life expectancy of you and your      
spouse, the minimum incidental death benefit requirements are treated as        
satisfied.                                                                      

If you are the owner of a Roth IRA, distributions are not required during your  
lifetime.                                                                       

EARLY SURRENDER PENALTY                                               

If you receive a taxable distribution from a Section 401 plan, Section 403(a),  
Section 403(b) plan or IRA under your Contract before you reach age 59-1/2, this
amount may be                                                                   
subject to a 10% penalty tax in addition to ordinary income tax. Additionally,  
distributions from an eligible Section 457(b) plan of a state or local          
government are subject to the 10% penalty to the extent attributable to rollover
contributions from Section 401, 403(a), 403(b), or an IRA plan.                 

As indicated in the chart below, some distributions prior to age 59 1/2 are     
exempt from the penalty. Some of these exceptions include any amounts received. 

Type of Plan
    --------------------------------------------------------------------------
                                                 401            403(b)     IRA
    --------------------------------------------------------------------------
   After you die                                  x              x         x
(paid to your Beneficiary(ies)                                        
    --------------------------------------------------------------------------
   After you become totally disabled (as          x              x         x
defined in the Code)                                                  
    --------------------------------------------------------------------------
If you separate from service after you         x              x       
reach age 55                                                          
    --------------------------------------------------------------------------

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   In a series of substantially equal             x(1)          x(1)       x
payments made annually (or more frequently                            
over your life or life expectancy or over                             
the joint lives (or joint and last survivor                           
life expectancy) of you and your                                      
designated beneficiary (SEPP exception).                              
    --------------------------------------------------------------------------

    --------------------------------------------------------------------------
Pursuant to a domestic relations order         x              x       
    --------------------------------------------------------------------------
(1)      After separation from service.                               

(Other exceptions to the penalty may be available, and if you are not yet age 59
1/2, you should consult your tax advisor to determine whether you have met all  
of the requirements for any particular exception.)                              

The penalty also will be imposed (retroactively with interest) if you elect to  
receive payments under the SEPP exception prior to age 59 1/2 and then change   
the method of distribution (except on account of death or disability) before you
reach the age of 59 1/2. You will be assessed the penalty even after age 59 1/2 
if payments have not continued for at least five years.                         

Distributions before age 59 1/2 generally are not permitted under eligible      
Section 457 plans. You may not receive distributions until you reach the age 70 
1/2 unless you separate from service or are faced with an unforeseeable         
emergency.                                                                      

Distributions from eligible Section 457 plans of tax exempt employers are not   
subject to the penalty tax for early withdrawals.                               

ROLLOVERS OF PLAN CONVERSIONS                                         

You may rollover distributions (other than certain distributions, such as       
required distributions) from one qualified plan or arrangement(except for       
eligible Section 457(b) plans of tax exempt employers or IRAs other than        
traditional IRAs) to another eligible retirement plan (as defined under the     
Code) without incurring any federal income tax under some circumstances.        
These circumstances are as follows:                                             

                                                        [Enlarge/Download Table]

          Distribution from:                          May be Rolled into:                              
          ------------------                          -------------------                              
---------------------------------------------------- --------------------------------------------------
                                                                                                       
Section 401 plan, Section 403(a) plan, Section       Section 401 plan, Section 403(a) plan,            
403(b) plan , eligible section 457(b) plan of a      Section 403(b) plan , eligible section 457(b)     
governmental employer                                plan of a governmental employer or Traditional    
                                                     IRA                                               
---------------------------------------------------- --------------------------------------------------

DEDUCTIONS FOR PLAN CONTRIBUTIONS                                     

You may deduct your contributions to Section 401 plans and Section 403(b) plans 
in the year when made up to the limits specified in the Code. These plans may   
also permit non-deductible employee contributions. Any non-deductible employee  
contribution that you make will be received tax free as a portion of each       
Annuity payment.                                                                

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WITHHOLDING                                                                     

MANDATORY 20% WITHHOLDING FOR "ELIGIBLE ROLLOVER DISTRIBUTIONS"       

If you are participating in a Section 401 plan, Section 403(a) plan, or a       
Section 403(b) plan, or eligible Section 457(b) plan of a governmental employer,
MetLife Investors USA is required to withhold 20% of the taxable portion of your
withdrawal that constitutes an "eligible rollover distribution" for Federal     
income tax purposes.                                                            

Generally, an "eligible rollover distribution" is any taxable amount that you   
receive from a Qualified Contract, except for distributions that are:           

o    paid over your life or the joint life expectancy of you and      
your Beneficiary(ies);                                      

o    paid over a period of 10 years or more;                          

o    necessary to satisfy the minimum distribution requirements; or   

o    hardship distributions                                           

Non-taxable amounts may also be rolled over to a traditional IRA or to a defined
contribution plan under Section 401(a) to the extent permitted under the code.  

The requirements discussed below under "Other Tax Withholding" will apply to any
distribution that is not an eligible rollover distribution.                     

You may not elect out of the 20% withholding requirement. However, MetLife      
Investors USA is not required to withhold the money if an eligible rollover     
distribution is directly transferred or directly rolled over into an IRA or     
other eligible retirement plan, or is directly transferred in a                 
trustee-to-trustee transfer to either arrangement.                              

OTHER TAX WITHHOLDING                                             

Different withholding rules apply to taxable withdrawals such as Annuity        
payments and partial withdrawals that are not eligible rollover distributions.  

The withholding rules are determined at the time of payment. You may elect out  
of these withholding requirements at any time. You also may revoke a            
non-withholding election made with respect to Annuity payments at any time and  
tax withholding will begin again at that time. MetLife Investors USA will notify
you at least annually of your right to revoke or reinstate tax withholding.     

TAXPAYER IDENTIFICATION NUMBER ("TIN")                            

You are required by law to provide MetLife Investors USA (as payor) with your   
correct TIN. If you are an individual, the TIN is your social security number.  

FOREIGN TAX CREDITS.                                              

To the extent permitted under the federal income tax law, we may claim the      
benefit of certain foreign tax credits attributable to taxes paid by certain of 
the Funds to foreign jurisdictions.                                             

 VOTING RIGHTS

As the owner of the Separate Account, MetLife Investors USA is the legal owner  
of the shares of the funding options. Based upon MetLife Investors USA's current
view of applicable law, you have voting interests under the Contract concerning 
Fund shares and are entitled to vote on Fund proposals at all regular and       
special shareholders meetings. Therefore, you are entitled to give us           
instructions for the number of shares which are deemed attributable to your     
Participant's Accounts.                                                         

MetLife Investors USA will vote all shares of the underlying Funds as directed  
by you and others who have voting interests in the Funds. MetLife Investors USA 
will send you, at a last known address, all periodic reports, proxy materials   
and written requests for instructions on how to vote those shares. When MetLife 
Investors USA receives these instructions, it will vote all of the shares in    
proportion to the instructions. If MetLife Investors USA does not receive your  
voting instructions, it will vote your interest in the same proportion as       
represented by the votes it receives from the other Owners and Participants. If 
MetLife Investors USA determines that it is permitted to vote the shares in its 
own right due to changes in the law or in the interpretation of the law it may  
do so.                                                                          

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MetLife Investors USA is under no duty to inquire into voting instructions or   
into the authority of the person issuing such instructions. All instructions    
will be valid unless MetLife Investors USA has actual knowledge that they are   
not.                                                                            

When Annuity payments begin, the Annuitant will have all voting rights in regard
to Fund shares.                                                                 

There are certain circumstances under which MetLife Investors USA may disregard 
voting instructions. However, in this event, a summary of our action and the    
reasons for such action will appear in the next semiannual report.              

The number of votes that each person having the right to vote receives is       
determined on a record date that is set no more than 90 days before the meeting.
Voting instructions will be requested at least 10 days before the meeting. Only 
Owners or Annuitants on the record date may vote.                               

The number of shares to which you are entitled to vote is calculated by dividing
the portion of your Participant's Account allocated to that Fund on the record  
date by the net asset value of a Fund share on the same date.                   

 LEGAL PROCEEDINGS

There are no present or pending material legal proceedings affecting the        
Separate Account. MetLife Investors USA, in the ordinary course of its business,
is engaged in litigation of various kinds which in its judgment is not of       
material importance in relation to its total assets.                            

ADDITIONAL INFORMATION

You may contact MetLife Investors USA at the address and phone number on the    
cover of this Prospectus for further information. A copy of the Statement of    
Additional Information, dated May 1, 2004, which provides more detailed         
information about the contracts, may also be obtained. The table of contents for
the Statement of Additional Information is provided below.                      

A Registration Statement has been filed with the SEC under the Securities Act of
1933 for the Contracts offered by this Prospectus. This Prospectus does not     
contain all of the information in the Registration Statement. Please refer to   
this Registration Statement for further information about the Separate Account, 
MetLife Investors USA and the Contracts. Any statements in this Prospectus about
the contents of the Contracts and other legal instruments are only summaries.   
Please see the filed versions of these documents for a complete statement of any
terms.                                                                          

TABLE OF CONTENTS                                                               

The Insurance Company                                                           

Surrender Charges                                                               

Net Investment Factor                                                           

Annuity Payments                                                                

Underwriters, Distribution of the Contracts                                     

Calculation of Performance                                                      

Voting Rights                                                                   

Safekeeping of Securities                                                       

Servicing Agent                                                                 

Experts                                                                         

Legal Matters                                                                   

Regulation of MetLife Investors USA                                             

Financial Statements                                                            

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APPENDIX A

 CONDENSED FINANCIAL INFORMATION

The following table sets forth condensed financial information on Accumulation  
Units with respect to Contracts issued under this prospectus through the        
Separate Account.                                                               

                                                        [Enlarge/Download Table]

                                                                          AUV at     AUV at    Accum Units
                                                                         Beginning     End         End    
                                                                         of Period  of Period   of Period 
                                                                         ---------  ---------   --------- 
                                                                                                          
MIST - JPM Quality Bond - Class A                                                                         
                                               7/31/1991 to   7/31/1992    5.00       5.34         4,339  
                                               7/31/1992 to   7/31/1993    5.34       7.66        16,762  
                                               7/31/1993 to  12/31/1993    7.66       7.78        25,753  
                                                1/1/1994 to  12/31/1994    7.78       7.42        42,544  
                                                1/1/1995 to  12/31/1995    7.42       8.55        64,174  
                                                1/1/1996 to  12/31/1996    8.55       8.68       139,116  
                                                1/1/1997 to  12/31/1997    8.68       9.35       215,747  
                                                1/1/1998 to  12/31/1998    9.35       9.92       516,448  
                                                1/1/1999 to  12/31/1999    9.92       9.54       657,761  
                                                1/1/2000 to  12/31/2000    9.54      10.28       671,742  
                                                1/1/2001 to  12/31/2001   10.28      10.88       994,785  
                                                1/1/2002 to  12/31/2002   10.88      11.70     1,542,200  
                                                1/1/2003 to  12/31/2003   11.70      12.00     1,502,954  
MIST - LA Growth & Income - Class A                                                                       
                                               7/31/1991 to   7/31/1992    5.00       5.63        43,927  
                                               7/31/1992 to   7/31/1993    5.63       8.27       133,858  
                                               7/31/1993 to  12/31/1993    8.27       8.70       183,606  
                                                1/1/1994 to  12/31/1994    8.70       8.85       328,797  
                                                1/1/1995 to  12/31/1995    8.85      11.46       567,282  
                                                1/1/1996 to  12/31/1996   11.46      13.77     1,274,231  
                                                1/1/1997 to  12/31/1997   13.77      17.29     2,893,417  
                                                1/1/1998 to  12/31/1998   17.29      18.79     4,623,935  
                                                1/1/1999 to  12/31/1999   18.79      20.18     5,808,561  
                                                1/1/2000 to  12/31/2000   20.18      21.91     6,361,071  
                                                1/1/2001 to  12/31/2001   21.91      21.61     7,113,661  
                                                1/1/2002 to  12/31/2002   12.61      17.50     7,530,918  
                                                1/1/2003 to  12/31/2003   17.50      22.62     7,425,960  
MIST - Met/AIM Small Cap Growth - Class A                                                                 
                                                5/1/2003 to  12/31/2003    8.74      11.67        30,334  
MIST - Lord Abbett Bond Debenture - Class A                                                               
                                                5/1/2003 to  12/31/2003   14.82      16.27        36,530  
MIST - PIMCO Innovation - Class A                                                                         
                                                5/1/2003 to  12/31/2003    3.33       4.65       138,733  
MIST - PIMCO Total Return - Class A                                                                       
                                                5/1/2003 to  12/31/2003   11.69      11.79             -  
MIST - Third Avenue Small Cap Value - Class A                                                             
                                                5/1/2003 to  12/31/2003    8.48      11.52        49,249  
Fidelity VIP II Asset Manager                                                                             
                                               5/13/1992 to   7/31/1993    5.00       5.15        38,782  
                                               7/31/1993 to  12/31/1993    5.15       5.62       258,061  
                                                1/1/1994 to  12/31/1994    5.62       5.21     2,516,326  
                                                1/1/1995 to  12/31/1995    5.21       6.02     4,182,918  
                                                1/1/1996 to  12/31/1996    6.02       6.81     5,464,114  
                                                1/1/1997 to  12/31/1997    6.81       8.12     6,838,501  
                                                1/1/1998 to  12/31/1998    8.12       9.21     8,505,603  
                                                1/1/1999 to  12/31/1999    9.21      10.10     9,842,875  
                                                1/1/2000 to  12/31/2000   10.10       9.58    10,471,037  
                                                1/1/2001 to  12/31/2001    9.58       9.06    11,212,634  
                                                1/1/2002 to  12/31/2002    9.06       8.16    11,340,299  
                                                1/1/2003 to  12/31/2003    8.16       9.50    10,931,444  
Fidelity VIP Growth (MET)                                                                                 
                                               5/24/1992 to   7/31/1993    5.00       5.06         5,573  
                                               7/31/1993 to  12/31/1993    5.06       5.40       110,644  
                                                1/1/1994 to  12/31/1994    5.40       5.33     1,202,458  
                                                1/1/1995 to  12/31/1995    5.33       7.13     2,758,913  
                                                1/1/1996 to  12/31/1996    7.13       8.08     5,003,453  
                                                1/1/1997 to  12/31/1997    8.08       9.85     6,614,665  
                                                1/1/1998 to  12/31/1998    9.85      13.55     8,140,376  
                                                1/1/1999 to  12/31/1999   13.55      18.39    10,212,262  
                                                1/1/2000 to  12/31/2000   18.39      16.15    12,289,987  
                                                1/1/2001 to  12/31/2001   16.15      13.12    13,869,929  
                                                1/1/2002 to  12/31/2002   13.12       9.04    14,654,896  
                                                1/1/2003 to  12/31/2003    9.04      11.85    14,704,494  

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Fidelity VIP II Index 500                                                                                 
                                               6/30/1992 to   7/31/1993    5.00       4.97           593  
                                               7/31/1993 to  12/31/1993    4.97       5.20        13,988  
                                                1/1/1994 to  12/31/1994    5.20       5.19        82,152  
                                                1/1/1995 to  12/31/1995    5.19       7.04       416,557  
                                                1/1/1996 to  12/31/1996    7.04       8.54     1,543,796  
                                                1/1/1997 to  12/31/1997    8.54      11.19     3,577,094  
                                                1/1/1998 to  12/31/1998   11.19      14.17     6,150,094  
                                                1/1/1999 to  12/31/1999   14.17      16.85     8,754,667  
                                                1/1/2000 to  12/31/2000   16.85      15.07    10,754,745  
                                                1/1/2001 to  12/31/2001   15.07      13.07    12,576,542  
                                                1/1/2002 to  12/31/2002   13.07      10.03    13,723,297  
                                                1/1/2003 to  12/31/2003   10.03      12.70    12,705,145  
Fidelity VIP Overseas                                                                                     
                                              11/17/1994 to  12/31/1994    5.33       5.67           114  
                                                1/1/1995 to  12/31/1995    5.67       6.14         1,721  
                                                1/1/1996 to  12/31/1996    6.14       6.86        15,303  
                                                1/1/1997 to  12/31/1997    6.86       7.56        35,006  
                                                1/1/1998 to  12/31/1998    7.56       8.41        48,352  
                                                1/1/1999 to  12/31/1999    8.41      11.83        61,753  
                                                1/1/2000 to  12/31/2000   11.83       9.45        76,224  
                                                1/1/2001 to  12/31/2001    9.45       7.35        87,408  
                                                1/1/2002 to  12/31/2002    7.35       5.78       100,377  
                                                1/1/2003 to  12/31/2003    5.78       8.18       116,589  
Fidelity VIP Money Market                                                                                 
                                              11/12/1993 to  12/31/1993    5.00       5.01         2,080  
                                                1/1/1994 to  12/31/1994    5.01       5.16        67,692  
                                                1/1/1995 to  12/31/1995    5.16       5.40       239,983  
                                                1/1/1996 to  12/31/1996    5.40       5.62       411,615  
                                                1/1/1997 to  12/31/1997    5.62       5.85       652,200  
                                                1/1/1998 to  12/31/1998    5.85       6.08     1,150,279  
                                                1/1/1999 to  12/31/1999    6.08       6.31     2,221,857  
                                                1/1/2000 to  12/31/2000    6.31       6.62     2,125,892  
                                                1/1/2001 to  12/31/2001    6.62       6.81     2,605,363  
                                                1/1/2002 to  12/31/2002    6.81       6.83     2,564,150  
                                                1/1/2003 to  12/31/2003    6.83       6.80     2,631,705  
Fidelity VIP II Contrafund                                                                                
                                               5/16/1995 to  12/31/1995    5.00       6.29       691,653  
                                                1/1/1996 to  12/31/1996    6.29       7.54     3,026,615  
                                                1/1/1997 to  12/31/1997    7.54       9.24     5,895,334  
                                                1/1/1998 to  12/31/1998    9.24      11.85     8,532,096  
                                                1/1/1999 to  12/31/1999   11.85      14.53    11,065,052  
                                                1/1/2000 to  12/31/2000   14.53      13.39    12,973,409  
                                                1/1/2001 to  12/31/2001   13.39      11.59    15,567,610  
                                                1/1/2002 to  12/31/2002   11.59      10.36    16,462,689  
                                                1/1/2003 to  12/31/2003   10.36      13.14    16,460,782  
Scudder SVS I International Class A                                                                       
                                               5/22/1995 to  12/31/1995    5.00       5.84       757,010  
                                                1/1/1996 to  12/31/1996    5.84       6.62       284,277  
                                                1/1/1997 to  12/31/1997    6.62       7.13       653,022  
                                                1/1/1998 to  12/31/1998    7.13       8.33       914,883  
                                                1/1/1999 to  12/31/1999    8.33      12.71     1,276,154  
                                                1/1/2000 to  12/31/2000   12.71       9.81     1,857,179  
                                                1/1/2001 to  12/31/2001    9.81       6.68     2,466,404  
                                                1/1/2002 to  12/31/2002    6.68       5.39     2,896,996  
                                                1/1/2003 to  12/31/2003    5.39       6.79     3,068,497  
Alger American Small Capitalization Fund Class O                                                          
                                               5/22/1995 to  12/31/1995    5.00       6.54       458,300  
                                                1/1/1996 to  12/31/1996    6.54       6.73     1,973,165  
                                                1/1/1997 to  12/31/1997    6.73       7.40     3,353,442  
                                                1/1/1998 to  12/31/1998    7.40       8.44     4,365,889  
                                                1/1/1999 to  12/31/1999    8.44      11.95     4,972,727  
                                                1/1/2000 to  12/31/2000   11.95       8.58     6,111,440  
                                                1/1/2001 to  12/31/2001    8.58       5.96     7,337,073  
                                                1/1/2002 to  12/31/2002    5.96       4.34     8,087,639  
                                                1/1/2003 to  12/31/2003    4.34       6.10     8,038,173  
American Funds Global Small Capitalization Class 2                                                        
                                                5/1/2003 to  12/31/2003   11.21      16.42        76,632  
American Funds Growth & Income Fund Class 2                                                               
                                                5/1/2003 to  12/31/2003   72.37      90.71        52,546  
American Funds Growth Fund Class 2                                                                        
                                                5/1/2003 to  12/31/2003   93.36     116.56        58,944  
MSF - Alger Equity Growth - Class A                                                                       
                                                5/1/2003 to  12/31/2003   19.63      24.33         8,178  
MSF - Davis Venture Value - Class A                                                                       
                                                5/1/2003 to  12/31/2003   22.65      28.56        26,885  

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MSF - FI Mid Cap Opportunities - Class A                                                                  
                                                5/1/2003 to  12/31/2003    8.55      11.41        68,455  
MSF - Harris Oakmark Focused Value - Class A                                                              
                                                5/1/2003 to  12/31/2003   24.57      31.46       114,793  
MSF - Harris Oakmark Large Cap Value - Class A                                                            
                                                5/1/2003 to  12/31/2003   10.08      12.12       143,540  
MSF - Lehman Brothers Aggregate Bond Index Class A                                                        
                                                5/1/2003 to  12/31/2003   12.69      12.76        54,840  
MSF - MetLife Mid Cap Stock Index - Class A                                                               
                                                5/1/2003 to  12/31/2003    8.83      11.57       121,376  
MSF - MetLife Stock Index - Class A                                                                       
                                                5/1/2003 to  12/31/2003   29.40      35.70       936,369  
MSF - MFS Total Return - Class A                                                                          
                                                5/1/2003 to  12/31/2003   34.33      38.75        19,447  
MSF - Morgan Stanley EAFE Index - Class A                                                                 
                                                5/1/2003 to  12/31/2003    7.18       9.67       109,137  
MSF - Russell 2000 Index - Class A                                                                        
                                                5/1/2003 to  12/31/2003    9.81      13.61       112,861  
MSF - State Street Research Aurora - Class A                                                              
                                                5/1/2003 to  12/31/2003   10.93      16.11       169,976  
MSF - State Street Research Bond Income - Class A                                                         
                                                5/1/2003 to  12/31/2003   45.60      46.37        14,126  
MSF - State Street Research Large Cap Value - Class A                                                     
                                                5/1/2003 to  12/31/2003    8.26      10.62        19,847  


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APPENDIX B

PARTICIPATING INVESTMENT PORTFOLIOS                                             

Below are the investment objectives of each Fund available under                
the contract. The fund prospectuses contain more complete information, including
a description of the investment objectives, policies, restrictions and risks.   
THERE CAN BE NO ASSURANCE THAT THE INVESTMENT OBJECTIVES WILL BE ACHIEVED.      

ALGER AMERICAN FUND (Class O)                                                   

The Alger American Fund is a mutual fund with multiple portfolios. Fred Alger   
Management, Inc. is the investment adviser to the fund. The following Class O   
portfolio is available under the Contract:                                      

Small Capitalization Portfolio                                                  

Investment Objective: Seeks long term growth of capital.                        

AMERICAN FUNDS INSURANCE SERIES (Class 2)                                       

American Funds Insurance Series(r) is a mutual fund with multiple series, three 
of which are offered under the contract. Capital Research and Management Company
is the investment adviser to each series. The following Class 2 portfolios are  
available under the Contract:                                                   

Growth Fund                                                                     

Investment Objective: Seeks capital appreciation through stocks.                

Growth-Income Fund                                                              

Investment Objective: Seeks both capital appreciation and income.               

Global Small Capitalization Fund                                                

Investment Objective: Seeks capital appreciation through stocks.                

FIDELITY VARIABLE INSURANCE PRODUCTS (Initial Class)                            

Fidelity Variable Insurance Products is a mutual fund with multiple             
portfolios, five of which are offered under the contract. Fidelity Management & 
Research Company (FMR) is the investment adviser to each of the portfolios. The 
following Initial Class portfolios are available under the Contract:            

VIP Asset Manager(SM) Portfolio                                                 

Investment Objective: Seeks to obtain high total return with reduced risk over  
the long term by allocating its assets among stocks, bonds, and short-term      
instruments.                                                                    

VIP Contrafund(R) Portfolio                                                     

Investment Objective: Seeks long-term capital appreciation.                     

VIP Growth Portfolio                                                            

Investment Objective: Seeks capital appreciation.                               

VIP Money Market Portfolio                                                      

Investment Objective: Seeks a high level of current income as is consistent with
preservation of capital and liquidity.                                          

VIP Overseas Portfolio                                                          

Investment Objective: Seeks long-term growth of capital.                        

MET INVESTORS SERIES TRUST (Class A)                                            
Met Investors Series Trust is a mutual fund with multiple portfolios. Met       
Investors Advisory, LLC (Met Investors Advisory), an affiliate of MetLife       
Investors USA, is the investment manager of Met Investors Series Trust. Met     
Investors Advisory has engaged subadvisers to provide investment advice for the 
individual portfolios. The following Class A portfolios are available under the 
Contract:                                                                       

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Met/AIM Small Cap Growth Portfolio                                              

Subadviser: A I M Capital Management, Inc.                                      

Investment Objective: Seeks long-term growth of capital.                        

J.P. Morgan Quality Bond Portfolio                                              

Subadviser: J.P. Morgan Investment Management, LLC                              

Investment Objective: Seeks to provide high total return consistent with        
moderate risk of capital and maintenance of liquidity.                          

Lord Abbett Bond Debenture Portfolio                                            

Subadviser: Lord, Abbett & Co. LLC                                              

Investment Objective: Seeks high current income and the opportunity for capital 
appreciation to produce a high total return.                                    

Lord Abbett Growth and Income Portfolio                                         

Subadviser: Lord, Abbett & Co. LLC                                              

Investment Objective: Seeks long-term growth of capital and income without      
excessive fluctuations in market value.                                         

MFS(R) Research International Portfolio                                         

Subadviser: Massachusetts Financial Services Company                            

Investment Objective: Seeks capital appreciation.                               

PIMCO PEA Innovation Portfolio                                                  

Subadviser:  PEA Capital LLC                                                    

Investment Objective: Seeks capital appreciation; no consideration is given to  
income.                                                                         

PIMCO Total Return Portfolio                                                    

Subadviser: PIMCO                                                               

Investment Objective: Seeks maximum total return, consistent with the           
preservation of capital and prudent investment management.                      

Third Avenue Small Cap Value Portfolio                                          

Subadviser: Third Avenue Management LLC                                         

Investment Objective: Seeks long-term capital appreciation.                     

METROPOLITAN SERIES FUND, INC. (Class A)                                        

Metropolitan Series Fund, Inc. is a mutual fund with multiple portfolios.       
MetLife Advisers, LLC (MetLife Advisers) is the investment adviser for all of   
the portfolios. MetLife Advisers is an affiliate of MetLife Investors USA,      
MetLife Advisers has engaged subadvisers to provide investment advice for the   
individual portfolios. The following                                            
Class A portfolios are available under the Contract:                            

Davis Venture Value Portfolio                                                   

Subadviser: Davis Advisers                                                      

Investment Objective: Seeks growth of capital.                                  

FI Mid Cap Opportunities Portfolio                                              

Subadviser: Fidelity Management & Research Company                              

Investment Objective: Seeks long-term growth of capital.                        

Harris Oakmark Focused Value Portfolio                                          

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Subadviser: Harris Associates L.P.                                              

Investment Objective: Seeks long-term capital appreciation.                     

Harris Oakmark Large Cap Value Portfolio                                        

Subadviser: Harris Associates L.P.                                              

Investment Objective: Seeks long-term capital appreciation.                     

Lehman Brothers(R) Aggregate Bond Index Portfolio                               

Subadviser: Metropolitan Life Insurance Company                                 

Investment Objective: Seeks to equal the performance of the Lehman Brothers     
Aggregate Bond Index.                                                           

MetLife Mid Cap Stock Index Portfolio                                           

Subadviser: Metropolitan Life Insurance Company                                 

Investment Objective: Seeks to equal the performance of the Standard & Poor's   
Mid Cap 400 Composite Stock Price Index ("S&P MidCap 400 Index").               

MetLife Stock Index Portfolio                                                   

Subadviser: Metropolitan Life Insurance Company                                 

Investment Objective: Seeks to equal the performance of the Standard & Poor's   
500 Composite Stock Price Index ("S&P 500 Index").                              

MFS(r) Total Return Portfolio                                                   

Subadviser: Massachusetts Financial Services Company                            

Investment Objective: Seeks long-term growth of capital with a secondary        
objective to seek reasonable current income.                                    

Morgan Stanley EAFE(R) Index Portfolio                                          

Subadviser: Metropolitan Life Insurance Company                                 

Investment Objective: Seeks to equal the performance of the MSCI EAFE Index.    

Russell 2000(R) Index Portfolio                                                 

Subadviser: Metropolitan Life Insurance Company                                 

Investment Objective: Seeks to equal the return of the Russell 2000 Index.      

State Street Research Aurora Portfolio                                          

Subadviser: State Street Research & Management Company                          

Investment Objective: Seeks high total return, consisting principally of capital
appreciation.                                                                   

State Street Research Bond Income Portfolio                                     

Subadviser: State Street Research & Management Company                          

Investment Objective: Seeks competitive total return primarily from investing in
fixed-income securities.                                                        

State Street Research Large Cap Growth Portfolio (formerly Alger Equity Growth  
Portfolio)                                                                      

Subadviser: State Street Research & Management Company                          

Investment Objective:  Seeks long term capital appreciation.                    

State Street Research Large Cap Value Portfolio                                 

Subadviser: State Street Research & Management Company                          

Investment Objective: Seeks long-term growth of capital.                        

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T. Rowe Price Small Cap Growth Portfolio                                        

Subadviser: T. Rowe Price Associates, Inc.                                      

Investment Objective:  Seeks long-term capital growth.                          

SCUDDER VARIABLE SERIES I (Class A)                                             

The Scudder Variable Series I is a mutual fund with multiple portfolios, one of 
which is offered under this contract. Deutsche Investment Management Americas   
Inc. ("DeIM") is the investment adviser for the portfolio. The following Class A
portfolio is available under the Contract:                                      

International Portfolio                                                         

Investment Objective: Seeks long-term growth of capital.                        

T. ROWE PRICE GROWTH STOCK FUND                                                 

The T. Rowe Price Growth Stock Fund is a mutual fund. T. Rowe Price Associates  
is the investment manager for the fund.                                         

Investment Objective: Seeks to provide long-term capital growth and,            
secondarily, increasing dividend income through investments in the common stocks
of well-established growth companies.                                           

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                                                      '33 Act File No. 033-37128

PART B

STATEMENT OF
ADDITIONAL INFORMATION

METLIFE INVESTORS USA SEPARATE ACCOUNT A

----------------------------------------------------------

INDIVIDUAL FLEXIBLE PAYMENT VARIABLE ANNUITY CONTRACTS

----------------------------------------------------------

 METLIFE INVESTORS USA INSURANCE COMPANY

 May 1, 2004

This Statement of Additional Information is not a prospectus and should be read 
in conjunction with the prospectus. A copy of the prospectus, dated May 1, 2004,
may be obtained without charge by writing to MetLife Investors USA Insurance    
Company, P.O. Box 46539 Denver, CO 80201-6539 or by telephoning (800) 238-4536. 

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 TABLE OF CONTENTS

                                                                            Page

The Insurance Company                                                           

Surrender Charges                                                               

Net Investment Factor                                                           

Annuity Payments                                                                

Underwriters, Distribution of the contract                                      

Calculation of Performance                                                      

Voting Rights                                                                   

Safekeeping of Securities                                                       

Servicing Agent                                                                 

Experts                                                                         

Legal Matters                                                                   

Regulation of MetLife Investors USA                                             

Financial Statements                                                            

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THE INSURANCE COMPANY                                                           

MetLife Investors USA Insurance Company (MetLife Investors USA) is a stock life 
insurance company founded on September 13, 1960, and organized under the laws of
the State of Delaware. Its principal executive offices are located at 22        
Corporate Plaza Drive, Newport Beach, California 92660. MetLife Investors USA is
authorized to transact the business of life insurance, including annuities, and 
is currently licensed to do business in all states except New York and in the   
District of Columbia. MetLife Investors USA is a wholly-owned subsidiary of     
MetLife Investors Group, Inc ("MLIG"). MLIG in turn is a wholly-owned subsidiary
of Metropolitan Life Insurance Company , a New York life insurance company. We  
changed our name to MetLife Investors USA Insurance Company on                  
February 12, 2001. On December 31, 2002, MetLife Investors became an indirect   
subsidiary of MetLife, Inc. (MetLife), the holding company of Metropolitan Life 
Insurance Company, and a listed company on the New York Stock Exchange.         

We are a member of the Insurance Marketplace Standards Association ("IMSA").    
Companies that belong to IMSA subscribe to a set of ethical standards covering  
the various aspects of sales and service for individually sold life insurance   
and annuities.                                                                  

SURRENDER CHARGES                                                               

Subject to the individual's retirement plan requirements, all or a portion of   
the Participant's account may be surrendered at any time prior to the annuity   
date. Unless a certificate has been in effect for more than nine full calendar  
years after the Certificate Date, a surrender charge (contingent deferred sales 
charge) will be deducted in the event the Participant requests a full or partial
surrender from the Separate Account. The charge is based on a percentage of the 
amount surrendered. No surrender charge will be applied for that part of the    
first surrender from the Separate Account in a calendar year that does not      
exceed 10% of the value of the Participant's Account. The surrender charge      
amounts to 7% for surrenders attributable to purchase payments received within  
60 months prior to the date of the surrender. In no event will the sum of these 
surrender charges and the distribution expense charge exceed 9% of the purchase 
payments.                                                                       

NET INVESTMENT FACTOR                                                           

The Separate Account net investment factor is an index of the percentage change 
(adjusted for distributions by the Fund and the deduction of the actuarial risk 
fee) in the net asset value of each Fund in which the Series in invested, since 
the preceding Business Day. The Separate Account net investment factor for each 
Series of Accumulation Units is determined for any Business Day by dividing (i) 
the net asset value of a share of the Fund which is represented by such Series  
at the close of business on such day, plus the per share amount of any          
distributions made by such Fund on such day by (ii) the net asset value of a    
share of such Fund determined as of the close of business on the preceding      
Business Day and then subtracting from the result the daily factors for         
mortality and expense risks (.003836%) for each calendar day between the        
preceding Business Day and the end of the current Business Day.                 

ANNUITY PAYMENTS                                                                

Basis of Variable Benefits                                                      

The Variable Annuity benefits rates used in determining Annuity Payments under  
the Contracts are based on actuarial assumptions, reflected in tables in the    
Contracts, as to the expected mortality and adjusted age and the form of Annuity
selected. The mortality basis for these tables is Annuity 2000 Mortality Table, 
projected to the year 2020 on Projection Scale G, with interest at 4.25% for all
functions involving life contingencies and the portion of any period certain    
beyond 10 years, and 3.25% for the first 10 years of any certain period.        
Adjusted age in those tables means actual age to the nearest birthday at the    
time the first payment is due, adjusted according to the following table:       

----------------------------------------------------------------------          

YEAR OF BIRTH                          AGE ADJUSTMENT                           
BEFORE 1945                            ACTUAL AGE                               
1946- 1965                             AGE MINUS 1 YEAR                         
1966 - 1985                            AGE MINUS 2 YEARS                        
1986 - 2005                            AGE MINUS 3 YEARS                        

----------------------------------------------------------------------          

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Determination of Amount of Monthly Variable Annuity Payments for First Year     

The Separate Account value used to establish the monthly variable annuity       
payment for the first year consists of the value of accumulation units of each  
Series of the Separate Account credited to a Participant on the last valuation  
date of the second calendar week before the annuity date. The Contract contains 
tables showing monthly payment factors and annuity premium rates per $1,000 of  
Separate Account value to be applied under Options 1 through 4.                 

At the beginning of the first payment year, an amount is transferred from the   
Separate Account to MetLife Investors USA's General Account and level monthly   
annuity payments for the year are made out of the General Account. The amount to
be transferred is determined by multiplying the annuity premium rate per $1,000 
set forth in the Contract tables by the number of thousands of dollars of       
Separate Account value credited to a Participant. The level monthly payment for 
the first payment year is then determined by multiplying the amount transferred 
(the "Annuity Premium") by the monthly payment factor in the same table. In the 
event the Contract involved has Separate Account accumulation units in more than
one Series, the total monthly annuity payment for the first year is the sum of  
the monthly annuity payments, determined in the same manner as above, for each  
Series.                                                                         

At the time the first year's monthly payments are determined, a number of       
annuity units for each Separate Account Series is also established for the      
annuitant by dividing the first year monthly payment from that series by the    
Separate Account annuity unit values for the series on the last valuation date  
of the second calendar week before the first annuity payment is due. The number 
of annuity units remains fixed during the annuity period unless annuity units   
are converted to or from another series.                                        

Determination of Amount of Monthly Variable Annuity Payments for Second and     
Subsequent Years                                                                

As of each anniversary of the annuity date, MetLife Investors USA will determine
the amount of the monthly variable annuity payments for the year then beginning.
Separate determinations will be made for each Separate Account Series in which  
the annuitant has annuity units, with the total annuity payment being the sum of
the payments derived from the Series. The amount of monthly payments for any    
Separate Account Series for any year after the first will be determined by      
multiplying the number of annuity units for that Series by the annuity unit     
value for that Series for the valuation period in which the first payment for   
the year is due. It will be MetLife Investor USA's practice to mail variable    
annuity payments no later than seven days after the last day of the valuation   
period upon which they are based or the monthly anniversary thereof.            

The objective of a variable annuity contract is to provide level payments during
periods when the economy is relatively stable and to reflect as increased       
payments only the excess of investment results flowing from inflation or an     
increase in productivity. The achievement of this objective will depend, in     
part, upon the validity of the assumption that the net investment return of the 
Separate Account equals the assumed investment return during periods of stable  
prices. Subsequent years' payments will be smaller than, equal to or greater    
than the first year's payments depending on whether the actual net investment   
return for the Separate Account is smaller than equal to or greater than the    
Assumed Investment Return.                                                      

Annuity Unit Value                                                              

The initial value of an Annuity Unit is $5 for each Series for the first        
Valuation Period as of which the first Variable Annuity Payment from such Series
is made. The value of an Annuity Unit for each Series on any later date is      
determined by multiplying the value of an Annuity Unit at the end of the        
preceding Valuation Period by the "Annuity change factor" for the second        
preceding Valuation Period. The Annuity change factor is an adjusted measurement
of the investment performance of the Fund since the end of the preceding        
Valuation Period. The Annuity change factor is determined by dividing the value 
of an Accumulation Unit at the end of the Valuation Period by the value of an   
Accumulation Unit at the end of the preceding Valuation Period and multiplying  
the result by a neutralization factor.                                          

Variable Annuity Payments for each year after the first reflect variations in   
the investment performance of the Separate Account above and below an Assumed   
Investment Return. This assumed investment rate is included for purposes of     
actuarial computations and does not relate to the actual investment performance 
of the underlying Fund. Therefore, the Assumed Investment Return must be        
"neutralized" in computing the Annuity change factor. For weekly Valuation      
Periods and a 4.25% Assumed Investment Return, the neutralization factor is     
0.9991999.                                                                      

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UNDERWRITERS, DISTRIBUTION OF THE CONTRACTS                                     

The Contracts will be sold as a continuous offering by individuals who are      
appropriately licensed as insurance agents of MetLife Investors USA for the sale
of life insurance and Variable Annuity Contracts in the state where the sale is 
made. In addition, these individuals will be registered representatives of the  
principal underwriter, MetLife Investors Distribution Company, or of other      
broker-dealers registered under the Securities Exchange Act of 1934 whose       
registered representatives are authorized by applicable law to sell Variable    
Annuity Contracts issued by MetLife Investors USA. Commissions on sales of      
contracts range from 0% to 8.5%. Agents are paid from the General Account of    
MetLife Investors USA. Such commissions bear no direct relationship to any of   
the charges under the Contracts. It is expected that the Contracts will be sold 
in 49 states and the District of Columbia.                                      

Information about the distribution of the contracts is contained in the         
prospectus. (See "Distributor.") Additional information is provided below. The  
contracts are not being offered to the public.                                  

MetLife Investors Distribution Company ("Distributor") serves as principal      
underwriter for the contracts. Distributor is a Delaware corporation and its    
home office is located at 22 Corporate Plaza Drive, Newport Beach, California   
92660. Distributor is an indirect, wholly-owned subsidiary of MetLife, Inc.     
Distributor is registered as a broker-dealer with the Securities and Exchange   
Commission under the Securities Exchange Act of 1934 and is a member of NASD,   
Inc. Distributor is not a member of the Securities Investor Protection          
Corporation. Distributor has entered into selling agreements with other         
broker-dealers ("selling firms") and compensates them for their services.       

Distributor received sales compensation with respect to the contracts in the    
following amounts during the periods indicated:                                 

2001     Received          $35,670,155                                          
Retained                   $0                                 

2002     Received          $90,280,308                                          
Retained                   $0                                 

2003     Received          $169,179,314                                         
Retained                    $0                                

CALCULATION OF PERFORMANCE                                                      

Average annual total return was computed by finding the average annual          
compounded rates of return over the 1, 3, 5, and 10 year periods that would     
equate the initial amount invested to the ending redeemable value, according to 
the following formula:                                                          

 P(1+T)(n) = ERV

Where:                                                                          

P     =    a hypothetical initial payment of $1,000                   
T     =    average annual total return                                
n     =    number of years                                            
     ERV   =    ending redeemable value of a hypothetical $1,000 payment made at
            the beginning of the 1, 5, or 10 year periods (or fractional
portion thereof).                               

The computation of average annual total returns does take into consideration    
recurring charges and any non-recurring charges applicable to a Contract which  
is surrendered in full at the end of the stated holding period.                 

VOTING RIGHTS                                                                   

Unless otherwise restricted by the plan under which a Contract is issued each   
Owner will have the right to instruct MetLife Investors USA with respect to     
voting the Fund Shares which are the assets underlying the Owner's interest in  
the Separate Account, at all regular and special shareholders meetings. An      
Annuitant's voting power with respect to Fund shares held by the Separate       
Account declines during the time the Annuitant is receiving a Variable Annuity  
based on the investment performance of the Separate Account, because amounts    
attributable to the Annuitant's interest are being transferred annually to the  
General Account to provide the variable payments.                               

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SAFEKEEPING OF SECURITIES                                                       

Custody of all assets of the Separate Account are held by MetLife Investors USA.
The assets of each Separate Account Series will be kept physically segregated by
MetLife Investors USA and held separate from the assets of any other firm,      
person, or corporation. Additional protection for the assets of the Separate    
Account is afforded by fidelity bonds covering all of MetLife Investors USA's   
officers and employees.                                                         

SERVICING AGENT                                                                 

Administrative services agreements have been entered into between MetLife       
Investors USA and each of MetLife Group, Inc and Metropolitan Life Insurance    
Company under which the latter have agreed to perform certain of the personnel  
and administrative services relating to the Contracts and for the Separate      
Account.. MetLife Investors USA has paid fees to MetLife Group and Metropolitan 
Life Insurance Company for these services.                                      

EXPERTS                                                                         

The financial statements of the Company included in this Statement of Additional
Information have been audited by Deloitte & Touche LLP, independent auditors, as
stated in their report appearing herein, and have been so included in reliance  
upon the report of such firm given upon their authority as experts in accounting
and auditing.                                                                   

The financial statements of the sub-accounts of the Separate Account included in
this Statement of Additional Information have been audited by Deloitte & Touche 
LLP, independent auditors, as stated in their report appearing herein, and have 
been so included in reliance upon the report of such firm given upon their      
authority as experts in accounting and auditing. The principal business address 
of Deloitte & Touche LLP is One City Centre, St. Louis, Missouri 63101.         

LEGAL MATTERS                                                                   

Richard C. Pearson, General Counsel of MetLife Investors USA Insurance Company, 
has provided advice on certain matters relating to the federal securities laws  
in connection with the Contracts.                                               

REGULATION OF METLIFE INVESTORS USA                                             

MetLife Investors USA is subject to the laws of the state of Delaware governing 
insurance companies and to regulation by the Delaware Commissioner of Insurance.
An annual statement, in a prescribed form, is filed with the Commissioner on or 
before March 1 each year covering the operations of MetLife Investors USA for   
the preceding year and its financial condition on December 31 of such year.     
MetLife Investors USA's books and assets are subject to review or examination by
the Commissioner or his agents at all times, and a full examination of its      
operations is usually conducted by the National Association of Insurance        
Commissioners at least once in every three years. MetLife Investors USA was last
examined as of December 31, 2000. While Delaware insurance law prescribes       
permissible investments for MetLife Investors USA, it does not prescribe        
permissible investments for the Separate Account, nor does it involve           
supervision of the investment management or policy of MetLife Investors USA. In 
addition, MetLife Investors USA is subject to the insurance laws and regulations
of other jurisdictions in which it is licensed to operate. State insurance laws 
generally provide regulations for the licensing of insurers and their agents,   
govern the financial affairs of insurers, require approval of policy forms,     
impose reserve requirements and require filing of an annual statement.          
Generally, the insurance departments of these other jurisdictions apply the laws
of Delaware in determining permissible investments for MetLife Investors USA.   

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FINANCIAL STATEMENTS                                                            

The financial statements of MetLife Investors USA contained herein should be    
considered only for the purposes of informing investors as to its ability to    
carry out the contractual obligations as depositor under the Annuity Contracts  
and as custodian as described elsewhere herein and in the Prospectus. The       
financial statements of the Separate Account are also included in this Statement
of Additional Information.                                                      

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Independent Auditors' Report                                        

To the Board of Directors and Stockholder of                        
MetLife Investors USA Insurance Company:                            

    We have audited the accompanying balance sheets of MetLife Investors USA
   Insurance Company (the "Company") as of December 31, 2003 and 2002, and
  the related statements of income, stockholder's equity, and cash flows
    for each of the three years in the period ended December 31, 2003. These
    financial statements are the responsibility of the Company's management.
   Our responsibility is to express an opinion on the financial statements
based on our audits.                                                

   We conducted our audits in accordance with auditing standards generally
     accepted in the United States of America. Those standards require that we
   plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An audit
    includes examining, on a test basis, evidence supporting the amounts and
     disclosures in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates made by    
management, as well as evaluating the overall financial statement   
   presentation. We believe that our audits provide a reasonable basis for
our opinion.                                                        

In our opinion, the financial statements referred to above present  
fairly, in all material respects, the financial position of MetLife 
     Investors USA Insurance Company as of December 31, 2003 and 2002, and the
    results of its operations and its cash flows for each of the three years
in the period ended December 31, 2003 in conformity with accounting 
principles generally accepted in the United States of America.      

/s/ DELOITTE & TOUCHE LLP                                           

Tampa, Florida                                                      
April 12, 2004                                                      

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     METLIFE INVESTORS USA INSURANCE COMPANY
    (a wholly owned subsidiary of MetLife Investors Group, Inc.)
    BALANCE SHEETS
    DECEMBER 31, 2003 and 2002
     (Dollars in thousands, except share and per share data)

                                                        [Enlarge/Download Table]

                                                                                                  2003        2002   
                                                                                               ----------- ----------
                                                                                                                     
ASSETS                                                                                                               
Investments:                                                                                                         
 Fixed maturities available-for-sale, at fair value (amortized cost $3,413,677 and $2,511,089,                       
   respectively)                                                                               $ 3,522,671 $2,599,321
 Equity securities, at fair value (cost $1,660 and $1,735, respectively)                             2,027      1,929
 Mortgage loans on real estate                                                                     431,973    437,721
 Policy loans                                                                                       35,768     37,933
 Other limited partnership interests                                                                 4,124      4,348
 Short-term investments                                                                            137,295     63,340
 Other invested assets                                                                               7,662          2
                                                                                               ----------- ----------
   Total investments                                                                             4,141,520  3,144,594
Cash and cash equivalents                                                                          199,952     41,452
Accrued investment income                                                                           40,540     32,165
Premiums and other receivables                                                                      45,526     36,703
Deferred policy acquisition costs                                                                  502,249    272,242
Current income taxes receivable                                                                     37,585     26,650
Deferred income taxes receivable                                                                    22,786          -
Other assets                                                                                        97,746     41,694
Separate account assets                                                                          6,368,724  2,597,620
                                                                                               ----------- ----------
   Total assets                                                                                $11,456,628 $6,193,120
                                                                                               =========== ==========

LIABILITIES AND STOCKHOLDER'S EQUITY                                                                                 
Liabilities:                                                                                                         
 Future policy benefits                                                                            124,998    118,928
 Policyholder account balances                                                                   3,769,822  2,837,425
 Other policyholder funds                                                                            3,755      2,839
 Long-term debt                                                                                     35,000     35,000
 Deferred income taxes payable                                                                           -     14,590
 Payables under securities loaned transactions                                                     667,853    224,569
 Other liabilities                                                                                 183,279    154,389
 Separate account liabilities                                                                    6,368,724  2,597,620
                                                                                               ----------- ----------
   Total liabilities                                                                           $11,153,431 $5,985,360
                                                                                               =========== ==========

Stockholder's Equity:                                                                                                
Preferred stock, par value $1.00 per share; 1,000,000 shares authorized;                                             
   200,000 issued and outstanding                                                                      200        200
Common stock, par value $200.00 per share; 15,000 shares authorized;                                                 
   11,000 shares issued and outstanding                                                              2,300      2,300
Additional paid-in capital                                                                          98,047     48,047
Retained earnings                                                                                  163,383    126,001
Accumulated other comprehensive income                                                              39,267     31,212
                                                                                               ----------- ----------
   Total stockholder's equity                                                                      303,197    207,760
                                                                                               ----------- ----------
   Total liabilities and stockholder's equity                                                  $11,456,628 $6,193,120
                                                                                               =========== ==========

     See accompanying notes to financial statements.

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     METLIFE INVESTORS USA INSURANCE COMPANY
    (a wholly owned subsidiary of MetLife Investors Group, Inc.)
    STATEMENTS OF INCOME
     FOR THE YEARS ENDED DECEMBER 31, 2003, 2002, and 2001
    (Dollars in thousands)

                                                        [Enlarge/Download Table]

                                                                                     2003      2002      2001   
                                                                                   --------  --------  -------- 
                                                                                                                
REVENUES                                                                                                        
Premiums                                                                           $  5,788  $ 23,961  $ 15,915 
Investment-type product policy fees                                                  88,441    33,761    20,515 
Net investment income                                                               199,039   173,387   173,745 
Other revenues                                                                          278       792     2,243 
Net investment losses (net of amounts allocable from deferred acquisition costs of                              
  ($1,878), $0 and $0, respectively)                                                 (8,131)  (36,177)  (13,129)
                                                                                   --------  --------  -------- 
   Total revenues                                                                   285,415   195,724   199,289 
                                                                                   --------  --------  -------- 
EXPENSES                                                                                                        
Policyholder benefits and claims                                                      7,256    30,968    18,009 
Interest credited to policyholder account balances                                  146,146   122,802   123,354 
Other expenses (excludes amounts directly related to net investment (losses) of                                 
  ($1,878), $0 and $0, respectively)                                                 76,336    59,947   104,128 
                                                                                   --------  --------  -------- 
   Total expenses                                                                   229,738   213,717   245,491 
                                                                                   --------  --------  -------- 

Income (loss) before provision (benefit) for income taxes                            55,677   (17,993)  (46,202)
Provision (benefit) for income taxes                                                 18,295    (9,034)  (18,856)
                                                                                   --------  --------  -------- 
Net income (loss)                                                                  $ 37,382  $ (8,959) $(27,346)
                                                                                   ========  ========  ======== 

     See accompanying notes to financial statements.

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     METLIFE INVESTORS USA INSURANCE COMPANY
    (a wholly owned subsidiary of MetLife Investors Group, Inc.)
    STATEMENTS OF STOCKHOLDER'S EQUITY
     FOR THE YEARS ENDED DECEMBER 31, 2003, 2002, and 2001
    (Dollars in thousands)

                                                        [Enlarge/Download Table]

                                                                                       Accumulated           
                                                                 Additional               Other              
                                                Preferred Common  Paid-in   Retained  Comprehensive          
                                                  Stock   Stock   Capital   Earnings  Income (Loss)   Total  
                                                --------- ------ ---------- --------  ------------- -------- 
                                                                                                             
Balance at December 31, 2000                      $200    $2,300  $48,047   $182,206     $  (741)   $232,012 
 Dividends on common stock                                                   (18,688)                (18,688)
 Dividends on preferred stock                                                 (1,212)                 (1,212)
Comprehensive loss:                                                                                          
 Net loss                                                                    (27,346)                (27,346)
 Other comprehensive income:                                                                                 
   Unrealized investment gains, net of related                                                               
     offsets, reclassification adjustments and                                                               
     income taxes                                                                          6,842       6,842 
                                                                                                    -------- 
 Comprehensive loss                                                                                  (20,504)
                                                ------------------------------------------------------------ 
Balance at December 31, 2001                       200     2,300   48,047    134,960       6,101     191,608 
Comprehensive income:                                                                                        
 Net loss                                                                     (8,959)                 (8,959)
 Other comprehensive income:                                                                                 
   Unrealized investment gains, net of related                                                               
     offsets, reclassification adjustments and                                                               
     income taxes                                                                         25,111      25,111 
                                                                                                    -------- 
 Comprehensive income                                                                                 16,152 
                                                ------------------------------------------------------------ 
Balance at December 31, 2002                       200     2,300   48,047    126,001      31,212     207,760 
 Capital contribution                                              50,000                             50,000 
Comprehensive income:                                                                                        
 Net income                                                                   37,382                  37,382 
 Other comprehensive income:                                                                                 
   Unrealized investment gains, net of related                                                               
     offsets, reclassification adjustments and                                                               
     income taxes                                                                          8,055       8,055 
                                                                                                    -------- 
 Comprehensive income                                                                                 45,437 
                                                ------------------------------------------------------------ 
Balance at December 31, 2003                      $200    $2,300  $98,047   $163,383     $39,267    $303,197 
                                                ============================================================ 

     See accompanying notes to financial statements.

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     METLIFE INVESTORS USA INSURANCE COMPANY
    (a wholly owned subsidiary of MetLife Investors Group, Inc.)
    STATEMENTS OF CASH FLOWS
     FOR THE YEARS ENDED DECEMBER 31, 2003, 2002, and 2001
    (Dollars in thousands)

                                                        [Enlarge/Download Table]

                                                                                  2003         2002        2001   
                                                                              -----------  -----------  --------- 
                                                                                                                  
Cash flows from operating activities                                                                              
Net income (loss)                                                             $    37,382  $    (8,959) $ (27,346)
 Adjustments to reconcile net income (loss) to net cash (used in) provided by                                     
   operating activities:                                                                                          
   Depreciation and amortization expenses                                               -            -       (397)
   Amortization of premiums and accretion of discounts associated with                                            
     investments, net                                                              16,768        4,930       (328)
   Losses from sale of investments, net                                            10,009       36,177     13,129 
   Interest credited to other policyholder account balances                       146,146      122,802    123,354 
   Investment-type product policy fees                                            (88,441)     (33,761)   (20,515)
   Change in accrued investment income                                             (8,375)      (5,275)       491 
   Change in premiums and other receivables                                        (4,970)       3,304    (36,323)
   Change in deferred policy acquisition costs, net                              (237,450)    (126,822)   (22,550)
   Change in insurance-related liabilities                                          6,058       10,859    108,432 
   Change in income taxes payable                                                 (52,649)     (42,048)   (16,668)
   Change in other liabilities                                                     21,011       53,133    113,189 
 Other, net                                                                        57,753       16,600     59,400 
                                                                              -----------  -----------  --------- 
Net cash (used in) provided by operating activities                               (96,758)      30,940    293,868 
                                                                              -----------  -----------  --------- 
Cash flows from investing activities                                                                              
 Sales, maturities and repayments of:                                                                             
   Fixed maturities                                                             1,490,770      819,352    322,789 
   Equity securities                                                                  353            -        415 
   Mortgage loans on real estate                                                   54,189       20,428     18,033 
 Purchases of:                                                                                                    
   Fixed maturities                                                            (2,418,070)  (1,536,851)  (431,412)
   Equity securities                                                                  (19)        (299)      (413)
   Mortgage loans on real estate                                                  (49,869)     (29,785)   (23,898)
 Other limited partnership interests                                                    -       (4,348)         - 
 Net change in short-term investments                                             (73,953)     (53,503)    48,090 
 Net change in policy loans                                                         2,165        1,354     (1,379)
 Net change in payable under securities loaned transactions                       443,284      224,569          - 
 Other, net                                                                        (5,630)       7,482     (1,818)
                                                                              -----------  -----------  --------- 
Net cash used in investing activities                                            (556,780)    (551,601)   (69,593)
                                                                              -----------  -----------  --------- 

Cash flows from financing activities                                                                              
 Policyholder account balances:                                                                                   
   Deposits                                                                     4,333,503    1,944,211    720,136 
   Withdrawals                                                                 (3,571,465)  (1,532,552)  (774,891)
 Dividends on preferred stock                                                           -            -     (1,212)
 Dividends on common stock                                                              -            -    (18,688)
 Capital contribution                                                              50,000            -          - 
                                                                              -----------  -----------  --------- 
Net cash provided by (used in) financing activities                               812,038      411,659    (74,655)
                                                                              -----------  -----------  --------- 
Change in cash and cash equivalents                                               158,500     (109,002)   149,620 
Cash and cash equivalents, beginning of year                                       41,452      150,454        834 
                                                                              -----------  -----------  --------- 
Cash and cash equivalents, end of year                                        $   199,952  $    41,452  $ 150,454 
                                                                              ===========  ===========  ========= 
Supplemental disclosures of cash flow information:                                                                
 Cash paid (refunded) during the year:                                                                            
   Interest                                                                   $     2,049  $     1,640  $   2,196 
                                                                              ===========  ===========  ========= 
   Income taxes                                                               $   (12,260) $    28,256  $     399 
                                                                              ===========  ===========  ========= 

     See accompanying notes to financial statements.

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     METLIFE INVESTORS USA INSURANCE COMPANY
    (a wholly owned subsidiary of MetLife Investors Group, Inc.)
     NOTES TO FINANCIAL STATEMENTS

1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES                                  

Business                                                            

MetLife Investors USA Insurance Company (the "Company"), a Delaware 
    domiciled life insurance company is a wholly owned subsidiary of MetLife
Investors Group, Inc. ("MLIG"). MLIG is a wholly owned subsidiary of
MetLife, Inc. ("MetLife"). At December 31, 2002, MLIG was sold from 
     Metropolitan Life Insurance Company ("Metropolitan Life") to MetLife. The
Company markets, administers and insures a broad range of term life 
insurance policies and variable and fixed annuity contracts.        

Basis of Presentation                                               

  The accompanying financial statements have been prepared in conformity
 with accounting principles generally accepted in the United States of
America ("GAAP"). The Delaware State Insurance Department (the      
"Department") recognizes only statutory accounting practices for    
determining and reporting the financial condition and results of    
 operations of an insurance company for determining solvency under the
  Delaware Insurance Law. No consideration is given by the Department to
financial statements prepared in accordance with GAAP in making such
determination.                                                      

    The preparation of financial statements in conformity with GAAP requires
management to adopt accounting policies and make estimates and      
     assumptions that affect amounts reported in the financial statements. The
significant accounting policies, estimates and related judgments    
  underlying the Company's financial statements are summarized below. In
applying these policies, management makes subjective and complex    
judgments that frequently require estimates about matters that are  
inherently uncertain. Many of these policies, estimates and related 
     judgements are common in the insurance and financial services industries;
others are specific to the Company's businesses and operations.     

Certain amounts in the prior years' financial statements have been  
reclassified to conform with the 2003 presentation.                 

Investments                                                         

    The Company's principal investments are in fixed maturities and mortgage
   loans, both of which are exposed to three primary sources of investment
     risk: credit, interest rate and market valuation. The financial statement
risks are those associated with the recognition of impairments and  
  income, as well as the determination of fair values. The assessment of
   whether impairments have occurred is based on management's case-by-case
evaluation of the underlying reasons for the decline in fair value. 
  Management considers a wide range of factors about the security issuer
    and uses its best judgment in evaluating the cause of the decline in the
   estimated fair value of the security and in assessing the prospects for
   near-term recovery. Inherent in management's evaluation of the security
    are assumptions and estimates about the operations of the issuer and its
future earnings potential. Considerations used by the Company in the
  impairment evaluation process include, but are not limited to: (i) the
length of                                                           

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   time and the extent to which the market value has been below cost; (ii)
the potential for impairments of securities when the issuer is      
    experiencing significant financial difficulties; (iii) the potential for
impairments in an entire industry sector or sub-sector; (iv) the    
  potential for impairments in certain economically depressed geographic
locations; (v) the potential for impairments of securities where the
     issuer, series of issuers or industry has suffered a catastrophic type of
loss or has exhausted natural resources; (vi) unfavorable changes in
forecasted cash flows on asset-backed securities; and (vii) other   
 subjective factors, including concentrations and information obtained
     from regulators and rating agencies. In addition, the earnings on certain
   investments are dependent upon market conditions, which could result in
    prepayments and changes in amounts to be earned due to changing interest
    rates or equity markets. The determination of fair values in the absence
  of quoted market values is based on: (i) valuation methodologies; (ii)
securities the Company deems to be comparable; and (iii) assumptions
deemed appropriate given the circumstances. The use of different    
     methodologies and assumptions may have a material effect on the estimated
fair value amounts.                                                 

The Company's fixed maturity and equity securities are classified as
available-for-sale and are reported at their estimated fair value.  
  Unrealized investment gains and losses on securities are recorded as a
separate component of other comprehensive income or loss, net of    
     policyholder related amounts and deferred income taxes. The cost of fixed
maturity and equity securities is adjusted for impairments in value 
deemed to be other-than-temporary. These adjustments are recorded as
     investment losses. Investment gains and losses on sales of securities are
    determined on a specific identification basis. All security transactions
are recorded on a trade date basis.                                 

Mortgage loans on real estate are stated at amortized cost, net of  
     valuation allowances. Valuation allowances are established for the excess
     carrying value of the mortgage loan over its estimated fair value when it
    is probable that, based upon current information and events, the Company
    will be unable to collect all amounts due under the contractual terms of
    the loan agreement. Such valuation allowances are based upon the present
 value of expected future cash flows discounted at the loan's original
     effective interest rate or the collateral value if the loan is collateral
   dependent. The Company also establishes allowances for loan loss when a
   loss contingency exists for pools of loans with similar characteristics
based on property types and loan to value risk factors. A loss      
    contingency exists when the likelihood that a future event will occur is
probable based on past events. Changes in valuation allowances are  
  included in net investment gains and losses. Interest income earned on
  impaired loans is accrued on the principal amount of the loan based on
the loan's contractual interest rate. However, interest ceases to be
   accrued for loans on which interest is generally more than 60 days past
   due and/or where the collection of interest is not considered probable.
Cash receipts on impaired loans are recorded as a reduction of the  
recorded investment.                                                

Policy loans are stated at unpaid principal balances.               

   Short-term investments are stated at amortized cost, which approximates
fair value.                                                         

     Other invested assets, which are primarily made up of collateral received
  under interest rate swap transactions, are reported at their estimated
fair value.                                                         

Derivative Financial Instruments                                    

     The Company enters into freestanding derivative transactions primarily to
   manage the risk associated with variability in cash flows or changes in
fair values related to the Company's financial assets and           

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liabilities or to changing fair values. The associated financial    
    statement risk is the volatility in net income which can result from (i)
     changes in fair value of derivatives not qualifying as accounting hedges;
(ii) ineffectiveness of designated hedges; and (iii) counterparty   
     default. In addition, there is a risk that embedded derivatives requiring
bifurcation are not identified and reported at fair value in the    
     financial statements. Accounting for derivatives is complex, as evidenced
  by significant authoritative interpretations of the primary accounting
    standards which continue to evolve, as well as the significant judgments
     and estimates involved in determining fair value in the absence of quoted
   market values. These estimates are based on valuation methodologies and
 assumptions deemed appropriate in the circumstances. Such assumptions
     include estimated volatility and interest rates used in the determination
  of fair value where quoted market values are not available. The use of
  different assumptions may have a material effect on the estimated fair
value amounts.                                                      

 The Company uses derivative instruments to manage risk through one of
five principal risk management strategies, the hedging of: (i)      
liabilities; (ii) invested assets; (iii) portfolios of assets or    
    liabilities; (iv) net investments in certain foreign operations; and (v)
   firm commitments and forecasted transactions. Additionally, the Company
    enters into income generation and replication derivative transactions as
   permitted by its insurance subsidiaries' Derivatives Use Plans approved
   by the applicable state insurance departments. The Company's derivative
  hedging strategy employs a variety of instruments, including financial
  futures, financial forwards, interest rate, credit default and foreign
  currency swaps, foreign currency forwards, and options, including caps
and floors.                                                         

 On the date the Company enters into a derivative contract, management
 designates the derivative as a hedge of the identified exposure (fair
   value, cash flow or foreign currency). If a derivative does not qualify
for hedge accounting, according to Statement of Financial Accounting
 Standards ("SFAS") No. 133, Accounting for Derivative Instruments and
Hedging Activities, as amended ("SFAS 133"), the changes in its fair
 value and all scheduled periodic settlement receipts and payments are
reported in net investment gains or losses.                         

The Company formally documents all relationships between hedging    
  instruments and hedged items, as well as its risk management objective
and strategy for undertaking various hedge transactions. In this    
    documentation, the Company specifically identifies the asset, liability,
  firm commitment, foreign operation, or forecasted transaction that has
  been designated as a hedged item, states how the hedging instrument is
  expected to hedge the risks related to the hedged item, and sets forth
    the method that will be used to retrospectively and prospectively assess
   the hedging instrument's effectiveness and the method that will be used
    to measure hedge ineffectiveness. The Company generally determines hedge
effectiveness based on total changes in fair value of a derivative  
     instrument. The Company discontinues hedge accounting prospectively when:
(i) it is determined that the derivative is no longer effective in  
     offsetting changes in the fair value or cash flows of a hedged item; (ii)
  the derivative expires or is sold, terminated, or exercised; (iii) the
  derivative is de-designated as a hedge instrument; (iv) it is probable
that the forecasted transaction will not occur; (v) a hedged firm   
   commitment no longer meets the definition of a firm commitment; or (vi)
management determines that designation of the derivative as a hedge 
instrument is no longer appropriate.                                

The Company designates and accounts for the following as cash flow  
  hedges, when they have met the effectiveness requirements of SFAS 133:
(i) various types of interest rate swaps to convert floating rate   
 investments to fixed rate investments; (ii) various types of interest
rate swaps to convert floating rate liabilities into fixed rate     
     liabilities; (iii) receive U.S. dollar fixed on foreign currency swaps to

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hedge the foreign currency cash flow exposure of foreign currency   
denominated investments; (iv) foreign currency forwards to hedge the
  exposure of future payments or receipts in foreign currencies; and (v)
 other instruments to hedge the cash flows of various other forecasted
   transactions. For all qualifying and highly effective cash flow hedges,
the effective portion of changes in fair value of the derivative    
instrument is reported in other comprehensive income or loss. The   
     ineffective portion of changes in fair value of the derivative instrument
is reported in net investment gains or losses. Hedged forecasted    
transactions, other than the receipt or payment of variable interest
payments, are not expected to occur more than 12 months after hedge 
inception.                                                          

The Company designates and accounts for the following as fair value 
     hedges when they have met the effectiveness requirements of SFAS 133: (i)
     various types of interest rate swaps to convert fixed rate investments to
   floating rate investments; (ii) receive U.S. dollar floating on foreign
currency swaps to hedge the foreign currency fair value exposure of 
    foreign currency denominated investments; (iii) pay U.S. dollar floating
on foreign currency swaps to hedge the foreign currency fair value  
exposure of foreign currency denominated liabilities, and (iv) other
   instruments to hedge various other fair value exposures of investments.
     For all qualifying and highly effective fair value hedges, the changes in
  fair value of the derivative instrument are reported as net investment
   gains or losses. In addition, changes in fair value attributable to the
hedged portion of the underlying instrument are reported in net     
investment gains and losses. In addition, changes in fair value     
attributable to the hedged portion of the underlying instrument are 
reported in net investment gains and losses.                        

   When hedge accounting is discontinued because it is determined that the
derivative no longer qualifies as an effective fair value hedge, the
derivative continues to be carried on the balance sheet at its fair 
   value, but the hedged asset or liability will no longer be adjusted for
    changes in fair value. When hedge accounting is discontinued because the
hedged item no longer meets the definition of a firm commitment, the
derivative continues to be carried on the balance sheet at its fair 
value, and any asset or liability that was recorded pursuant to     
    recognition of the firm commitment is removed from the balance sheet and
   recognized as a net investment gain or loss in the current period. When
     hedge accounting is discontinued because it is probable that a forecasted
     transaction will not occur, the derivative continues to be carried on the
balance sheet at its fair value, and gains and losses that were     
accumulated in other comprehensive income or loss are recognized    
     immediately in net investment gains or losses. When the hedged forecasted
transaction is no longer probable, but is reasonably possible, the  
  accumulated gain or loss remains in other comprehensive income or loss
and is recognized when the transaction affects net income or loss;  
    however, prospective hedge accounting for the transaction is terminated.
  In all other situations in which hedge accounting is discontinued, the
derivative is carried at its fair value on the balance sheet, with  
changes in its fair value recognized in the current period as net   
investment gains or losses.                                         

   The Company may enter into contracts that are not themselves derivative
instruments but contain embedded derivatives. For each contract, the
 Company assesses whether the economic characteristics of the embedded
    derivative are clearly and closely related to those of the host contract
   and determines whether a separate instrument with the same terms as the
     embedded instrument would meet the definition of a derivative instrument.

If it is determined that the embedded derivative possesses economic 
    characteristics that are not clearly and closely related to the economic
     characteristics of the host contract, and that a separate instrument with
 the same terms would qualify as a derivative instrument, the embedded
derivative is separated                                             

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 from the host contract and accounted for as a stand-alone derivative.
     Such embedded derivatives are recorded on the balance sheet at fair value
   and changes in their fair value are recognized in the current period in
net investment gains or losses. If the Company is unable to properly
    identify and measure an embedded derivative for separation from its host
 contract, the entire contract is carried on the balance sheet at fair
     value, with changes in fair value recognized in the current period as net
investment gains or losses.                                         

Cash and Cash Equivalents                                           

     The Company considers all investments purchased with an original maturity
of three months or less to be cash equivalents.                     

Deferred Policy Acquisition Costs                                   

     The Company incurs significant costs in connection with acquiring new and
renewal insurance business. These costs, which vary with and are    
   primarily related to the production of that business, are deferred. The
    recovery of such costs is dependent upon the future profitability of the
     related business. The amount of future profit is dependent principally on
  investment returns in excess of the amounts credited to policyholders,
    mortality, morbidity, persistency, interest crediting rates, expenses to
   administer the business, creditworthiness of reinsurance counterparties
    and certain economic variables, such as inflation. Of these factors, the
     Company anticipates that investment returns are most likely to impact the
     rate of amortization of such costs. The aforementioned factors enter into
management's estimates of gross profits, which generally are used to
amortize such costs. Revisions to estimates result in changes to the
    amounts expensed in the reporting period in which the revisions are made
     and could result in the impairment of the asset and a charge to income if
estimated future gross profits are less than amounts deferred. In   
  addition, the Company utilizes the reversion to the mean assumption, a
   standard industry practice, in its determination of the amortization of
deferred policy acquisitions cost ("DAC").                          

Costs, which consist principally of commissions, and policy issue   
expenses, are amortized with interest over the expected life of the 
 contract for investment-type products. Generally, DAC is amortized in
proportion to the present value of estimated gross profits from     
   investment, mortality, expense margins, and surrender charges. Interest
     rates are based on rates in effect at the inception or acquisition of the
contracts.                                                          

  Actual gross profits can vary from management's estimates resulting in
     increases or decreases in the rate of amortization. This practice assumes
  that the expectation for long-term equity investment is not changed by
    minor short-term market fluctuations, but that it does change when large
   interim deviations have occurred. Management periodically updates these
estimates and evaluates the recoverability of DAC. When appropriate,
management revises its assumptions of the estimated gross profits of
these contracts, and the cumulative amortization is re-estimated and
adjusted by a cumulative charge or credit to current operations.    

     DAC for non-participating traditional life and annuity policies with life
contingencies are amortized in proportion to anticipated premiums.  
 Assumptions as to anticipated premiums are made at the date of policy
    issuance or acquisition and are consistently applied during the lives of
the contracts. Deviations from estimated experience are included in 
    operations when they occur. For these contracts, the amortization period
is typically the estimated life of the policy.                      

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 Policy acquisition costs related to internally replaced contracts are
expensed at the date of replacement.                                

Future Policy Benefits                                              

   The Company establishes liabilities for amounts payable under insurance
    policies, including traditional life insurance and annuities. Generally,
   amounts are payable over an extended period of time and liabilities are
 established based on methods and underlying assumptions in accordance
    with GAAP and applicable actuarial standards. Principal assumptions used
in the establishment of liabilities for future policy benefits are  
mortality, morbidity, expenses, persistency, investment returns and 
inflation.                                                          

     Differences between the actual experience and assumptions used in pricing
these policies and in the establishment of liabilities result in    
variances in profit and could result in losses.                     

Recognition of Insurance Revenue and Related Benefits               

Premiums related to traditional life and annuity policies with life 
    contingencies are recognized as revenues when due. Benefits and expenses
are provided against such revenues to recognize profits over the    
estimated lives of the policies. When premiums are due over a       
significantly shorter period than the period over which benefits are
     provided, any excess profit is deferred and recognized into operations in
a constant relationship to insurance in-force or, for annuities, the
amount of expected future policy benefit payments.                  

     Deposits related to investment-type products are credited to policyholder
account balances. Revenues from such contracts consist of amounts   
assessed against policyholder account balances for mortality, policy
    administration and surrender charges and are recognized in the period in
which services are provided. Amounts that are charged to operations 
include interest credited and benefit claims incurred in excess of  
related policyholder account balances.                              

Other Revenues                                                      

  Other revenues include asset management and advisory fees, commissions
    and fees, and administrative service fees. Such fees and commissions are
recognized in the period in which services are performed.           

Income Taxes                                                        

   The Company applies the concepts of SFAS No. 109, Accounting for Income
     Taxes ("SFAS 109"), which establishes deferred tax assets and liabilities
   based upon the difference between the financial statement and tax bases
   of assets and liabilities using the enacted tax rates in effect for the
  year in which the differences are expected to reverse. SFAS 109 allows
recognition of deferred tax assets if future realization of the tax 
benefit is more likely than not, with a valuation allowance for the 
portion that is not likely to be realized.                          

Reinsurance                                                         

The Company enters into reinsurance transactions as a purchaser of  
reinsurance. Accounting for reinsurance requires extensive use of   
assumptions and estimates, particularly related to the future       

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performance of the underlying business and the potential impact of  
  counterparty credit risks. The Company periodically reviews actual and
     anticipated experience compared to the aforementioned assumptions used to
establish assets and liabilities relating to ceded and assumed      
     reinsurance and evaluates the financial strength of counterparties to its
  reinsurance agreements using criteria similar to that evaluated in the
    security impairment process discussed previously. Additionally, for each
    of its reinsurance contracts, the Company must determine if the contract
    provides indemnification against loss or liability relating to insurance
 risk, in accordance with applicable accounting standards. The Company
   must review all contractual features, particularly those that may limit
the amount of insurance risk to which the reinsurer is subject or   
  features that delay the timely reimbursement of claims. If the Company
     determines that a reinsurance contract does not expose the reinsurer to a
 reasonable possibility of a significant loss from insurance risk, the
Company records the contract using the deposit method of accounting.

     In the normal course of business, the Company seeks to limit its exposure
   to losses on large risks by ceding risks to other insurance enterprises
 or reinsurers. Reinsurance activities are accounted for as consistent
with the terms of the underlying contracts. Premiums ceded to other 
companies have been reported as a reduction of premiums. Amounts    
applicable to reinsurance ceded for future policy benefits and claim
     liabilities have been reported as assets for these items, and commissions
     and expense allowances received in connection with reinsurance ceded have
    been accounted for in income as earned. Reinsurance does not relieve the
  Company from its primary responsibility to meet claim obligations. The
      Company evaluates the financial conditions of its reinsurers periodically.

Separate Accounts                                                   

   Separate accounts are established in conformity with insurance laws and
   are generally not chargeable with liabilities that arise from any other
   business of the Company. Separate account assets are subject to general
  account claims only to the extent the value of such assets exceeds the
separate account liabilities. Investments (stated at estimated fair 
   value) and liabilities of the separate accounts are reported separately
as assets and liabilities. Deposits to separate accounts, investment
    income and recognized and unrealized gains and losses on the investments
of the separate accounts accrue directly to contractholders and,    
accordingly, are not reflected in the revenues of the Company. Fees 
    charged to contractholders, principally mortality, policy administration
and surrender charges are included in investment-type products fees.

Application of Recent Accounting Pronouncements                     

 Effective December 31, 2003, the Company adopted Emerging Issues Task
Force ("EITF") Issue No. 03-1, The Meaning of Other-Than-Temporary  
     Impairment and Its Application to Certain Investments ("EITF 03-1"). EITF
03-1 provides guidance on the disclosure requirements for           
other-than-temporary impairments of debt and marketable equity      
investments that are accounted for under Statement of Financial     
     Accounting Standards ("SFAS") No. 115, Accounting for Certain Investments
 in Debt and Equity Securities ("SFAS 115"). The adoption of EITF 03-1
requires the Company to include certain quantitative and qualitative
disclosures for debt and marketable equity securities classified as 
   available-for-sale or held-to-maturity under SFAS 115 that are impaired
at the balance sheet date but for which an other-than-temporary     
   impairment has not been recognized. See Note 2. The initial adoption of
 EITF 03-1, which only required additional disclosures, did not have a
material impact on the Company's financial statements.              

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In July 2003, the Accounting Standards Executive Committee of the   
  American Institute of Certified Public Accountants issued Statement of
Position 03-1, Accounting and Reporting by Insurance Enterprises for
    Certain Nontraditional Long-Duration Contracts and for Separate Accounts
  ("SOP 03-1"). SOP 03-1 provides guidance on (i) the classification and
    valuation of long-duration contract liabilities, (ii) the accounting for
    sales inducements and (iii) separate account presentation and valuation.
     SOP 03-1 is effective for fiscal years beginning after December 15, 2003.
     As of January 1, 2004, the Company decreased future policyholder benefits
   for various guaranteed minimum death and income benefits net of DAC and
unearned revenue liability offsets under certain variable annuity   
     contracts of approximately $2,118 thousand, net of income tax, which will
  be reported as a cumulative effect of a change in accounting. Industry
   standards and practices continue to evolve relating to the valuation of
liabilities relating to these types of benefits, which may result in
further adjustments to the Company's measurement of liabilities     
     associated with such benefits in subsequent accounting periods. Effective
  with the adoption of SOP 03-1, costs associated with enhanced or bonus
  crediting rates to contractholders must be deferred and amortized over
  the life of the related contract using assumptions consistent with the
  amortization of DAC, which has been the Company's accounting treatment
    The adoption of SOP 03-1 did not have a material impact on the Company's
separate account presentation and valuation.                        

    In April 2003, the Financial Accounting Standards Board ("FASB") cleared
Statement 133 Implementation Issue No. B36, Embedded Derivatives:   
   Modified Coinsurance Arrangements and Debt Instruments That Incorporate
     Credit Risk Exposures That Are Unrelated or Only Partially Related to the
  Creditworthiness of the Obligor under Those Instruments ("Issue B36").
  Issue B36 concluded that (i) a company's funds withheld payable and/or
receivable under certain reinsurance arrangements, and (ii) a debt  
    instrument that incorporates credit risk exposures that are unrelated or
    only partially related to the creditworthiness of the obligor include an
  embedded derivative feature that is not clearly and closely related to
 the host contract. Therefore, the embedded derivative feature must be
 measured at fair value on the balance sheet and changes in fair value
     reported in income. Issue B36 became effective on October 1, 2003 did not
have a significant impact on the Company's financial statements.    

   In April 2003, the FASB issued SFAS No. 149, Amendment of Statement 133
   on Derivative Instruments and Hedging Activities ("SFAS 149"). SFAS 149
amends and clarifies the accounting and reporting for derivative    
   instruments, including certain derivative instruments embedded in other
    contracts, and for hedging activities. Except for certain implementation
     guidance that is incorporated in SFAS 149 and already effective, SFAS 149
    is effective for contracts entered into or modified after June 30, 2003.
The Company's adoption of SFAS 149 on July 1, 2003 did not have a   
significant impact on its financial statements.                     

     During 2003, the Company adopted FASB Interpretation No. 46 Consolidation
     of Variable Interest Entities--An Interpretation of ARB No. 51 ("FIN 46")
  and its December 2003 revision ("FIN 46(r)"). Certain of the Company's
 other limited partnership interests meet the definition of a variable
    interest entity ("VIE") and must be consolidated, in accordance with the
    transition rules and effective dates, if the Company is deemed to be the
primary beneficiary. A VIE is defined as (i) any entity in which the
     equity investments at risk in such entity do not have the characteristics
     of a controlling financial interest or (ii) any entity that does not have
  sufficient equity at risk to finance its activities without additional
    subordinated support from other parties. Effective February 1, 2003, the
    Company adopted FIN 46 for VIEs created or acquired on or after February
   1, 2003 and, effective December 31, 2003, the Company adopted FIN 46(r)
     with respect to interests in entities formerly considered special purpose
entities ("SPEs") including interests in asset-backed securities and
collateralized debt                                                 

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    obligations. In accordance with the provisions in FIN 46(r), the Company
    has elected to defer until March 31, 2004 the consolidation of interests
   in VIEs for non SPEs acquired prior to February 1, 2003 for which it is
  the primary beneficiary. The adoption of FIN 46 as of February 1, 2003
    did not have a significant impact on the Company's financial statements.
    The adoption of the provisions of FIN 46(r) at December 31, 2003 did not
have a material affect on the Company's financial statements.       

  Effective January 1, 2003, the Company adopted FIN No. 45, Guarantor's
     Accounting and Disclosure Requirements for Guarantees, Including Indirect
     Guarantees of Indebtedness of Others ("FIN 45"). FIN 45 requires entities
to establish liabilities for certain types of guarantees and expands
   financial statement disclosures for others. The initial recognition and
    initial measurement provisions of FIN 45 are applicable on a prospective
basis to guarantees issued or modified after December 31, 2002. The 
 adoption of FIN 45 did not have a significant impact on the Company's
financial statements.                                               

   Effective January 1, 2003, the Company adopted SFAS No. 146, Accounting
    for Costs Associated with Exit or Disposal Activities ("SFAS 146"). SFAS
146 requires that a liability for a cost associated with an exit or 
   disposal activity be recorded and measured initially at fair value only
 when the liability is incurred rather than at the date of an entity's
    commitment to an exit plan as required by EITF Issue No. 94-3, Liability
    Recognition for Certain Employee Termination Benefits and Other Costs to
   Exit an Activity (including Certain Costs Incurred in a Restructuring).
The Company's activities subject to this guidance in 2003 were not  
significant.                                                        

   Effective January 1, 2003, the Company adopted SFAS No. 145, Rescission
     of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13,
and Technical Corrections ("SFAS 145"). In addition to amending or  
  rescinding other existing authoritative pronouncements to make various
    technical corrections, clarify meanings, or describe their applicability
 under changed conditions, SFAS 145 generally precludes companies from
recording gains and losses from the extinguishment of debt as an    
   extraordinary item. SFAS 145 also requires sale-leaseback treatment for
   certain modifications of a capital lease that result in the lease being
     classified as an operating lease. The adoption of SFAS 145 did not have a
significant impact on the Company's financial statements.           

   Effective January 1, 2002, the Company adopted SFAS No. 144, Accounting
  for the Impairment or Disposal of Long-Lived Assets ("SFAS 144"). SFAS
  144 provides a single model for accounting for long-lived assets to be
     disposed of by superseding SFAS No. 121, Accounting for the Impairment of
Long-Lived Assets and for Long-Lived Assets to be Disposed Of ("SFAS
121"), and the accounting and reporting provisions of Accounting    
Principles Board Opinion No. 30, Reporting the Results of           
     Operations--Reporting the Effects of Disposal of a Segment of a Business,
and Extraordinary, Unusual and Infrequently Occurring Events and    
Transactions ("APB 30"). Under SFAS 144, discontinued operations are
     measured at the lower of carrying value or fair value less costs to sell,
rather than on a net realizable value basis. Future operating losses
    relating to discontinued operations also are no longer recognized before
they occur. SFAS 144 (i) broadens the definition of a discontinued  
     operation to include a component of an entity (rather than a segment of a
   business); (ii) requires long-lived assets to be disposed of other than
    by sale to be considered held and used until disposed; and (iii) retains
the basic provisions of (a) APB 30 regarding the presentation of    
discontinued operations in the statements of income, (b) SFAS 121   
 relating to recognition and measurement of impaired long-lived assets
  (other than goodwill), and (c) SFAS 121 relating to the measurement of
   long-lived assets classified as held-for-sale. Adoption of SFAS 144 did
not have a material impact on the Company's financial statements.   

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In July 2001, the U.S. Securities and Exchange Commission ("SEC")   
  released Staff Accounting Bulletin ("SAB") No. 102, Selected Loan Loss
Allowance and Documentation Issues ("SAB 102"). SAB 102 summarizes  
certain of the SEC's views on the development, documentation and    
  application of a systematic methodology for determining allowances for
    loan and lease losses. The application of SAB 102 by the Company did not
have a material impact on the Company's financial statements.       

Effective April 1, 2001, the Company adopted certain additional     
 accounting and reporting requirements of SFAS No. 140, Accounting for
Transfers and Servicing of Financial Assets and Extinguishments of  
Liabilities--a Replacement FASB Statement No. 125, relating to the  
    derecognition of transferred assets and extinguished liabilities and the
reporting of servicing assets and liabilities. The adoption of these
  requirements did not have a material impact on the Company's financial
statements.                                                         

   Effective April 1, 2001, the Company adopted EITF 99-20, Recognition of
 Interest Income and Impairment on Certain Investments ("EITF 99-20").
    This pronouncement requires investors in certain asset-backed securities
    to record changes in their estimated yield on a prospective basis and to
apply specific evaluation methods to these securities for an        
     other-than-temporary decline in value. The adoption of EITF 99-20 did not
have a material impact on the Company's financial statements.       

     Effective January 1, 2001, the Company adopted SFAS 133 which established
new accounting and reporting standards for derivative instruments,  
     including certain derivative instruments embedded in other contracts, and
 for hedging activities. The cumulative effect of the adoption of SFAS
133, as of January 1, 2001, had no material impact on the Company's 
 financial statements. The FASB continues to issue additional guidance
relating to the accounting for derivatives under SFAS 133, which may
   result in further adjustments to the Company's treatment of derivatives
in subsequent accounting periods.                                   

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2.  INVESTMENTS                                                                 

Fixed Maturities and Equity Securities                              

Fixed maturities and equity securities at December 31, 2003 were as 
follows:                                                            

                                                                [Download Table]

                                           Cost or   Gross Unrealized Estimated 
                                          Amortized  ----------------   Fair    
                                            Cost       Gain    Loss     Value   
                                          ---------- -------- ------- ----------
                                                  (Dollars in thousands)        
                                                                                
Fixed Maturities:                                                               
   U.S. corporate securities              $1,423,547 $ 76,237 $ 5,405 $1,494,379
   Mortgage-backed securities                832,042    7,753   6,323    833,472
   Foreign corporate securities              337,736   25,826   1,626    361,936
   U.S. treasuries/agencies                   57,399    2,886      75     60,210
   Asset-backed securities                   358,078    6,381   1,626    362,833
   Commercial mortgage-backed securities     320,465    3,485   2,698    321,252
   Foreign government securities              74,431    6,311   2,153     78,589
   State and political subdivisions            9,979       21       -     10,000
                                          ---------- -------- ------- ----------
   Total fixed maturities                 $3,413,677 $128,900 $19,906 $3,522,671
                                          ========== ======== ======= ==========
Equity Securities:                                                              
 Common stocks                            $    1,660 $    367 $     - $    2,027
                                          ========== ======== ======= ==========

Fixed maturities and equity securities at December 31, 2002 were as 
follows:                                                            

                                                                [Download Table]

                                           Cost or   Gross Unrealized Estimated 
                                          Amortized  ----------------   Fair    
                                            Cost       Gain    Loss     Value   
                                          ---------- -------- ------- ----------
                                                  (Dollars in thousands)        
                                                                                
Fixed Maturities:                                                               
   U.S. corporate securities              $  959,507 $ 57,787 $22,130 $  995,164
   Mortgage-backed securities                596,478   14,602   1,190    609,890
   Foreign corporate securities              298,136   23,062   2,911    318,287
   U.S. treasuries/agencies                  214,451    3,780      23    218,208
   Asset-backed securities                   283,223    9,658   1,071    291,810
   Commercial mortgage-backed securities     114,523    3,782     465    117,840
   Foreign government securities              44,771    3,444      93     48,122
                                          ---------- -------- ------- ----------
   Total fixed maturities                 $2,511,089 $116,115 $27,883 $2,599,321
                                          ========== ======== ======= ==========
Equity Securities:                                                              
 Common stocks                            $    1,735 $    194 $     - $    1,929
                                          ========== ======== ======= ==========

  The Company held foreign currency derivatives with notional amounts of
    $17,909 thousand to hedge the exchange rate risk associated with foreign
bonds and loans at December 31, 2003. The Company did not hold any  
    foreign currency derivatives with notional amounts to hedge the exchange
   rate risk associated with foreign bonds and loans at December 31, 2002.

The Company held fixed maturities at estimated fair values that were
    below investment grade or not rated by an independent rating agency that
    totaled $247,679 thousand and $176,397 thousand at December 31, 2003 and
     2002, respectively. These securities had a net unrealized gain of $12,569

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 thousand and a loss of $7,774 thousand at December 31, 2003 and 2002,
   respectively. At December 31, 2003 and 2002, non-income producing fixed
maturities were $2,070 thousand and $2,588 thousand, respectively.  

   The cost or amortized cost and estimated fair value of fixed maturities
   at December 31, 2003, by contractual maturity date (excluding scheduled
sinking funds), are shown below:                                    

                                                                [Download Table]

                                             Cost or    Estimated 
                                            Amortized     Fair    
                                              Cost        Value   
                                            ----------  ----------
                                            (Dollars in thousands)
                                                                  
Due in one year or less                     $   75,538  $   77,261
Due after one year through five years          848,929     881,062
Due after five years through ten years         686,109     725,611
Due after ten years                            292,516     321,180
                                            ----------  ----------
    Subtotal                                 1,903,092   2,005,114
Mortgage-backed and asset-backed securities  1,510,585   1,517,557
                                            ----------  ----------
    Total fixed maturities                  $3,413,677  $3,522,671
                                            ==========  ==========

    Fixed maturities not due at a single maturity date have been included in
the above table in the year of final maturity. Actual maturities may
differ from contractual maturities due to the exercise of prepayment
options.                                                            

Sales of fixed maturities and equity securities classified as       
available-for sale were as follows:                                 

                                                                [Download Table]

                          Years Ended December 31,   
                        ---------------------------- 
                          2003      2002      2001   
                        --------  --------  -------- 
                           (Dollars in thousands)    
                                                     
Proceeds                $466,262  $344,356  $943,228 
Gross investment gains     7,703     8,806       360 
Gross investment losses  (10,993)  (22,705)   (6,589)

  Gross investment losses above exclude writedowns recorded during 2003,
2002 and 2001 for other than temporarily impaired available-for-sale
fixed maturities and equity securities of $1,852 thousand, $20,098  
thousand, and $4,918 thousand, respectively.                        

     Excluding investments in U.S. Treasury securities and obligations of U.S.
   government corporations and agencies, the Company is not exposed to any
significant concentration of credit risk in its fixed maturities    
portfolio.                                                          

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    The following table shows the estimated fair values and gross unrealized
     losses of the Company's fixed maturities, aggregated by sector and length
 of time that the securities have been in a continuous unrealized loss
position at December 31, 2003:                                      

                                                        [Enlarge/Download Table]

                                                   Equal to or greater                       
                              Less than 12 months     than 12 months            Total        
                              -------------------- -------------------- ---------------------
                              Estimated   Gross    Estimated   Gross    Estimated    Gross   
                                Fair    Unrealized   Fair    Unrealized   Fair     Unrealized
                                Value      Loss      Value      Loss      Value       Loss   
                              --------- ---------- --------- ---------- ---------- ----------
                                                  (Dollars in thousands)                     
                                                                                             
U.S. corporate securities     $261,803   $ 4,696    $ 6,286    $  709   $  268,089  $ 5,405  
Mortgage-backed securities     363,680     5,977      9,880       346      373,560    6,323  
Foreign corporate securities    52,402     1,393     12,953       233       65,355    1,626  
U.S. treasuries/agencies        13,620        75          -         -       13,620       75  
Asset-backed securities         90,572     1,337      8,015       289       98,587    1,626  
Commercial mortgage-backed                                                                   
  securities                   161,184     2,682     12,484        16      173,668    2,698  
Foreign government securities   14,039     2,153          -         -       14,039    2,153  
                              --------   -------    -------    ------   ----------  -------  
   Total fixed maturities     $957,300   $18,313    $49,618    $1,593   $1,006,918  $19,906  
                              ========   =======    =======    ======   ==========  =======  

    There were no equity securities in a continuous unrealized loss position
at December 31, 2003.                                               

Securities Lending Program                                          

     The Company participates in securities lending programs whereby blocks of
securities, which are included in investments, are loaned to third  
    parties, primarily major brokerage firms. The Company requires a minimum
of 102% of the fair value of the loaned securities to be separately 
maintained as collateral for the loans. Securities with a cost or   
amortized cost of $622,695 thousand and $201,585 thousand and an    
   estimated fair value of $640,701 thousand and $219,662 thousand were on
   loan under the program at December 31, 2003 and 2002, respectively. The
Company was liable for cash collateral under its control of $667,853
thousand and $224,569 thousand at December 31, 2003 and 2002        
  respectively. Security collateral on deposit from customers may not be
sold or repledged and is not reflected in the financial statements. 

Assets on Deposit                                                   

 The Company had investment assets on deposit with regulatory agencies
with a fair market value of $5,158 thousand and $5,515 thousand at  
December 31, 2003 and 2002, respectively.                           

Mortgage Loans on Real Estate                                       

Mortgage loans on real estate were categorized as follows:          

                                                                [Download Table]

                                      December 31,           
                            -------------------------------- 
                                  2003             2002      
                            ---------------  --------------- 
                             Amount  Percent  Amount  Percent
                            -------- ------- -------- -------
                                 (Dollars in thousands)      
                                                             
Commercial mortgage loans   $349,995    81%  $373,007    85% 
Agricultural mortgage loans   83,213    19%    66,762    15% 
                            --------   ---   --------   ---  
  Total                      433,208   100%   439,769   100% 
                                       ===              ===  
Less: Valuation allowances     1,235            2,048        
                            --------         --------        
  Mortgage loans            $431,973         $437,721        
                            ========         ========        

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    Mortgage loans on real estate are collateralized by properties primarily
    located throughout the United States. At December 31, 2003, 28%, 12% and
7% of the properties were located in California, Rhode Island and   
   Delaware, respectively. Generally, the Company (as the lender) requires
     that a minimum of one-fourth of the purchase price of the underlying real
estate be paid by the borrower.                                     

Changes in mortgage loan valuation allowances were as follows:      

                                                                [Download Table]

                         Years Ended  
                        December 31,  
                       ---------------
                         2003    2002 
                       -------  ------
                         (Dollars in  
                         thousands)   
                                      
Balance at January 1   $ 2,048  $    -
Additions                2,225   2,048
Deductions              (3,038)      -
                       -------  ------
Balance at December 31 $ 1,235  $2,048
                       =======  ======

     A portion of the Company's mortgage loans on real estate was impaired and
consisted of the following:                                         

                                                                [Download Table]

                                                      December 31, 
                                                     --------------
                                                      2003   2002  
                                                     ------ -------
                                                      (Dollars in  
                                                       thousands)  
                                                                   
Impaired mortgage loans with valuation allowances    $    - $ 6,170
Impaired mortgage loans without valuation allowances  3,679   3,928
                                                     ------ -------
  Total                                               3,679  10,098
Less: Valuation allowances on impaired mortgages          -   2,048
                                                     ------ -------
  Impaired mortgage loans                            $3,679 $ 8,050
                                                     ====== =======

The average investment in impaired mortgage loans on real estate was
     $3,875 thousand and $3,682 thousand for the years ended December 31, 2003
 and 2002 respectively. Interest income on impaired mortgage loans was
     $289 thousand and $806 thousand for the years ended December 31, 2003 and
2002 respectively.                                                  

   The investment in restructured mortgage loans on real estate was $3,679
     thousand and $3,928 thousand at December 31, 2003 and 2002, respectively.
Interest income of $373 thousand and $282 thousand was recognized on
restructured loans for the years ended December 31, 2003 and 2002,  
respectively. Gross interest income that would have been recorded in
accordance with the original terms of such loans amounted to $358   
thousand and $282 thousand for the years ended December 31, 2003 and
2002, respectively.                                                 

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     There were no mortgage loans on real estate with scheduled payments of 60
days (90 days for agriculture mortgages) or more past due or in     
foreclosure at December 31, 2003 and 2002.                          

Net Investment Income                                               

The components of net investment income were as follows:            

                                                                [Download Table]

                                                   Years Ended December 31,  
                                                  -------------------------- 
                                                    2003     2002     2001   
                                                  -------- -------- -------- 
                                                    (Dollars in thousands)   
                                                                             
Fixed maturities                                  $165,910 $138,069 $130,888 
Equity securities                                        -        -      (52)
Mortgage loans on real estate                       32,474   30,950   33,852 
Policy loans                                         1,756    1,813    1,800 
Cash, cash equivalents and short-term investments    5,770    3,424    6,054 
Other                                                    -        -    1,983 
                                                  -------- -------- -------- 
  Total                                            205,910  174,256  174,525 
Less: Investment expenses                            6,871      869      780 
                                                  -------- -------- -------- 
  Net investment income                           $199,039 $173,387 $173,745 
                                                  ======== ======== ======== 

Net Investment Gains (Losses)                                       

     Net investment gains (losses), including changes in valuation allowances,
were as follows:                                                    

                                                                [Download Table]

                                      Years Ended December 31,   
                                    ---------------------------- 
                                      2003      2002      2001   
                                    --------  --------  -------- 
                                       (Dollars in thousands)    
                                                                 
Fixed maturities                    $ (5,401) $(33,476) $(11,152)
Equity securities                        259      (521)        5 
Mortgage loans on real estate         (2,708)   (2,048)        - 
Derivatives                           (2,161)     (151)   (1,982)
Other                                      2        19         - 
                                    --------  --------  -------- 
  Total                              (10,009)  (36,177)  (13,129)
Amounts allocable to:                                            
  Deferred policy acquisition costs    1,878         -         - 
                                    --------  --------  -------- 
    Net investment losses           $ (8,131) $(36,177) $(13,129)
                                    ========  ========  ======== 

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Net Unrealized Investment Gains (Losses)                            

   The components of net unrealized investment gains (losses), included in
accumulated other comprehensive income, were as follows:            

                                                                [Download Table]

                                                    Years Ended December 31,  
                                                  --------------------------- 
                                                    2003      2002      2001  
                                                  --------  --------  ------- 
                                                     (Dollars in thousands)   
                                                                              
Fixed maturities                                  $110,105  $ 88,232  $14,972 
Equity securities                                      367       194     (428)
Derivatives                                         (2,211)        -        - 
                                                  --------  --------  ------- 
  Total                                            108,261    88,426   14,544 
                                                  --------  --------  ------- 
Amounts allocable to:                                                         
  Deferred policy acquisition costs                (47,850)  (40,408)  (4,572)
  Deferred income taxes                            (21,144)  (16,806)  (3,871)
                                                  --------  --------  ------- 
    Total                                          (68,994)  (57,214)  (8,443)
                                                  --------  --------  ------- 
        Net unrealized investment gains (losses)  $ 39,267  $ 31,212  $ 6,101 
                                                  ========  ========  ======= 

    The changes in net unrealized investment gains (losses) were as follows:

                                                                [Download Table]

                                             Years Ended December 31,  
                                            -------------------------- 
                                              2003     2002      2001  
                                            -------  --------  ------- 
                                              (Dollars in thousands)   
                                                                       
Balance at January 1                        $31,212  $  6,101  $  (741)
Unrealized investment gains during the year  19,835    73,882   17,312 
Unrealized investment losses relating to:                              
  Deferred policy acquisition costs          (7,442)  (35,836)  (6,199)
  Deferred income taxes                      (4,338)  (12,935)  (4,271)
                                            -------  --------  ------- 
Balance at December 31                      $39,267  $ 31,212  $ 6,101 
                                            =======  ========  ======= 
Net change in unrealized investment gains   $ 8,055  $ 25,111  $ 6,842 
                                            =======  ========  ======= 

Variable Interest Entities                                          

    As discussed in Note 1, the Company has adopted the provisions of FIN 46
and FIN 46(r). At December 31, 2003, FIN 46(r) did not require the  
Company to consolidate any additional VIEs that were not previously 
consolidated.                                                       

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     The following table presents the total assets of and the maximum exposure
     to loss relating to VIEs for which the Company holds significant valuable
interests but it is not the primary beneficiary:                    

                                                                [Download Table]

                                       As of         
                                 December 31, 2003   
                               ----------------------
                                            Maximum  
                                 Total     Exposure  
                               Assets (1) to Loss (2)
                               ---------- -----------
                               (Dollars in Thousands)
                                                     
Other Limited Partnerships (3)   $4,726       $-     
                                 ------       --     
                                 $4,726       $-     
                                 ======       ==     

(1) The assets of the other limited partnerships are reflected at the carrying  
amounts at which such assets would have been reflected on the Company's 
balance sheet had the Company consolidated the VIE from the date of its 
initial investment in the entity.                                       

(2) The maximum exposure to loss relating to other limited partnerships is      
 equal to the carrying amounts plus any unfunded commitments which reduced
by amounts guaranteed by other partners.                                

(3) Other limited partnerships include partnerships established for the purpose 
 of investing in public and private debt and equity securities, as well as
   limited partnerships established for the purpose of investing in low-income
housing that qualifies for Federal tax credits                          

3.  DERIVATIVE FINANCIAL INSTRUMENTS                                            

    The table below provides a summary of the notional amount and fair value
   of derivative financial instruments held at December 31, 2003 and 2002:

                                                                [Download Table]

                                  2003                        2002            
                       --------------------------- ---------------------------
                                Current Market or           Current Market or 
                                    Fair Value                  Fair Value    
                       Notional ------------------ Notional ------------------
                        Amount  Assets Liabilities  Amount  Assets Liabilities
                       -------- ------ ----------- -------- ------ -----------
                                       (Dollars in thousands)                 
                                                                              
Financial futures      $106,500  $ -     $2,051    $      -   $-       $-     
Caps                    150,000   10          -     270,000    2        -     
Foreign currency swaps   17,909    -      2,813           -    -        -     
                       --------  ---     ------    --------   --       --     
  Total contractual                                                           
    commitments        $274,409  $10     $4,864    $270,000   $2       $-     
                       ========  ===     ======    ========   ==       ==     

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    The following is a reconciliation of the notional amounts by
derivative type at December 31, 2003 and 2002:                  

                                                                [Download Table]

                               December 31,                         December 31,
                                   2002                                 2003    
                                 Notional             Terminations/   Notional  
                                  Amount    Additions  Maturities      Amount   
                               ------------ --------- ------------- ------------
                                            (Dollars in thousands)              
                                                                                
BY DERIVATIVE TYPE                                                              
Financial futures                $      -   $213,000    $106,500      $106,500  
Caps                              270,000          -     120,000       150,000  
Foreign currency swaps                  -     17,909           -        17,909  
                                 --------   --------    --------      --------  
 Total contractual commitments   $270,000   $230,909    $226,500      $274,409  
                                 ========   ========    ========      ========  
BY DERIVATIVE STRATEGY                                                          
Liability hedging                $270,000   $      -    $120,000      $150,000  
Invested asset hedging                  -    230,909     106,500       124,409  
                                 --------   --------    --------      --------  
 Total contractual commitments   $270,000   $230,909    $226,500      $274,409  
                                 ========   ========    ========      ========  

     The following table presents the notional amounts of derivative financial
instruments by maturity at December 31, 2003:                       

                                                                [Download Table]

                                       Remaining Life                     
                   -------------------------------------------------------
                            After One Year After Five Years After         
                   One Year  Through Five    Through Ten     Ten          
                   or Less      Years           Years       Years  Total  
                   -------- -------------- ---------------- ----- --------
                                   (Dollars in thousands)                 
                                                                          
Financial futures  $106,500     $    -         $     -       $-   $106,500
Caps                150,000          -               -        -    150,000
Foreign currency                                                          
  swaps                   -      5,866          12,043        -     17,909
                   --------     ------         -------       --   --------
 Total contractual                                                        
   commitments     $256,500     $5,866         $12,043       $-   $274,409
                   ========     ======         =======       ==   ========

The following table presents the notional amounts and fair values of
   derivatives by type of hedge designation at December 31, 2003 and 2002:

                                                                [Download Table]

                            2003                        2002            
                 --------------------------- ---------------------------
                              Fair Value                  Fair Value    
                 Notional ------------------ Notional ------------------
                  Amount  Assets Liabilities  Amount  Assets Liabilities
                 -------- ------ ----------- -------- ------ -----------
                                 (Dollars in thousands)                 
                                                                        
BY TYPE OF HEDGE                                                        
Fair value       $112,366  $ -     $2,509    $      -   $-       $-     
Cash flow          12,043    -      2,355           -    -        -     
Non qualifying    150,000   10          -     270,000    2        -     
                 --------  ---     ------    --------   --       --     
 Total           $274,409  $10     $4,864    $270,000   $2       $-     
                 ========  ===     ======    ========   ==       ==     

   The Company recognized net investment expense of $420 thousand from the
    periodic settlement of foreign currency swaps that qualify as accounting
hedges under SFAS 133, as amended, for the year                     

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 ended December 31, 2003. During the years ended December 31, 2002 and
2001, there were no derivative instruments designated as qualifying 
accounting hedges under SFAS No. 133.                               

  During the year ended December 31, 2003, the Company recognized $2,509
thousand in net investment losses related to qualifying fair value  
    hedges. Accordingly, $427 thousand of net unrealized gains on fair value
  hedged investments were recognized in net investment losses during the
year ended December 31, 2003. There were no discontinued fair value 
     hedges during the year ended December 31, 2003. There were no derivatives
    designated as fair value hedges during the years ended December 31, 2001
or 2002.                                                            

For the year ended December 31, 2003, the net amounts accumulated in
  other comprehensive income relating to cash flow hedges were losses of
     $2,211 thousand. There were no amounts accumulated in other comprehensive
 income at December 31, 2002. For the year ended December 31, 2003 the
     market value of cash flow hedges decreased by $2,355 thousand. During the
   year ended December 31, 2003, the Company recognized $2,211 thousand of
    other comprehensive net losses relating to the effective portion of cash
flow hedges. During the year ended December 31, 2003 there were no  
     amounts of other comprehensive expense was reclassified to net investment
    income. During the year ended December 31, 2003 no cash flow hedges were
 discontinued. During the years ended December 31, 2002 and 2001 there
were no cash flow hedges. The Company has no SFAS 133 transition    
adjustment.                                                         

There are no amounts of investment expense or net loss reported in  
accumulated other comprehensive income at December 31, 2003 that are
     expected to be reclassified during the year ending December 31, 2004 into
    net investment income and net investment gains and losses, respectively,
    as the derivatives and underlying investments mature or expire according
to their original terms.                                            

For the years ended December 31, 2003, 2002 and 2001, the Company   
     recognized $66 thousand, $48 thousand, and $39 thousand in net investment
    expense from the periodic settlement payments on derivative instruments,
respectively, and $0 thousand, $104 thousand, and $1,982 thousand,  
     respectively, in net investment losses from changes in fair value related
to derivatives not qualifying as accounting hedges.                 

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4.  INSURANCE                                                                   

Deferred Policy Acquisition Costs                                   

     Information regarding DAC for the years ended December 31, 2003, 2002 and
2001 is as follows (dollars in thousands):                          

                                                                [Download Table]
                                                
Balance at January 1, 2001             $164,905 
Capitalizations                           7,579 
                                       -------- 
    Total                               172,484 
                                       -------- 
Amortization allocated to:                      
  Unrealized investment gains (losses)    6,199 
  Other expenses                        (14,971)
                                       -------- 
    Total amortization                   (8,772)
                                       -------- 
Balance at December 31, 2001            181,256 
  Capitalizations                       128,517 
                                       -------- 
    Total                               309,773 
                                       -------- 
Amortization allocated to:                      
  Unrealized investment gains (losses)   35,836 
  Other expenses                          1,695 
                                       -------- 
    Total amortization                   37,531 
                                       -------- 
Balance at December 31, 2002            272,242 
Capitalizations                         248,954 
                                       -------- 
    Total                               521,196 
                                       -------- 
Amortization allocated to:                      
  Net investment gains (losses)          (1,878)
  Unrealized investment gains (losses)    7,442 
  Other expenses                         13,383 
                                       -------- 
    Total amortization                   18,947 
                                       -------- 
Balance at December 31, 2003           $502,249 
                                       ======== 

  Amortization of DAC is allocated to (i) investment gains and losses to
provide statement of income information regarding the impact of such
gains and losses on the amount of the amortization, (ii) unrealized 
   investment gains and losses to provide information regarding the amount
that would have been amortized if such gains and losses had been    
  recognized, and (iii) other expenses to provide amounts related to the
   gross profits originating from transactions other than investment gains
and losses.                                                         

 Investment gains and losses related to certain products have a direct
     impact on the amortization of DAC. Presenting investment gains and losses
net of related amortization of DAC provides information useful in   
  evaluating the operating performance of the Company. This presentation
may not be comparable to presentations made by other insurers.      

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Future Policy Benefits                                              

    Future policy benefit liabilities for traditional annuities are equal to
   accumulated contractholder fund balances during the accumulation period
  and the present value of expected future payments after annuitization.
     Interest rates used in establishing such liabilities range from 4% to 9%.

    Policyholder account balances for investment-type contracts are equal to
the policy account values, which consist of an accumulation of gross
premium payments plus credited interest, ranging from 2% to 9%, less
expenses, mortality charges, and withdrawals.                       

Separate Accounts                                                   

  Separate accounts include one category of account type: non-guaranteed
     separate accounts totaling $6,368,724 thousand and $2,597,620 thousand at
December 31, 2003 and 2002, respectively, for which the policyholder
assumes the investment risk.                                        

     Fees charged to the separate accounts by the Company (including mortality
    charges, policy administration fees and surrender charges) are reflected
in the Company's revenues as investment-type product policy fees and
   totaled $88,441 thousand, $33,761 thousand and $20,515 thousand for the
years ended December 31, 2003, 2002 and 2001, respectively.         

5.  REINSURANCE                                                                 

     Effective April 1, 2001, the Company entered into a Yearly Renewable Term
   reinsurance agreement with Exeter Reassurance Company, Ltd., (a MetLife
  affiliate) to automatically cede varying percentages of the Guaranteed
    Minimum Death Benefit Rider, Guaranteed Minimum Income Benefit Rider and
Earnings Preservation Benefit Rider associated with certain variable
   annuity contracts. The Company ceded liabilities of $1,322 thousand and
  $267 thousand at December 31, 2003 and 2002, respectively. The Company
recognized operating losses of approximately $2,626 thousand, $560  
   thousand and $61 thousand from this transaction in 2003, 2002 and 2001,
respectively.                                                       

     The Company currently reinsures 90% of its new production of variable and
  fixed annuities to an affiliate. Also, the Company currently reinsures
55% of the riders containing benefit guarantees related to variable 
annuities. The Company is contingently liable with respect to ceded 
    reinsurance should any reinsurer be unable to meet its obligations under
these agreements.                                                   

    The amounts in the statements of income are presented net of reinsurance
ceded. The effects of reinsurance were as follows:                  

                                                                [Download Table]

                                                    Year Ended December 31,  
                                                   ------------------------- 
                                                     2003     2002     2001  
                                                   -------  -------  ------- 
                                                     (Dollars in thousands)  
                                                                             
Direct premiums                                    $10,886  $28,835  $21,031 
Reinsurance ceded                                   (5,098)  (4,874)  (5,116)
                                                   -------  -------  ------- 
Net premiums                                       $ 5,788  $23,961  $15,915 
                                                   =======  =======  ======= 
Reinsurance recoveries netted against policyholder                           
  benefits                                         $ 3,567  $ 4,910  $ 2,942 
                                                   =======  =======  ======= 

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 Reinsurance recoverables, included in premiums and other receivables,
     were $31,793 thousand and $30,309 thousand at December 31, 2003 and 2002,
respectively.                                                       

6.  DEBT                                                                        

Debt consisted of the following:                                    

                                                                [Download Table]

                                              December 31,  
                                             ---------------
                                              2003    2002  
                                             ------- -------
                                               (Dollars in  
                                               thousands)   
                                                            
Surplus notes, interest rate 5%              $25,000 $25,000
Surplus notes, interest rate LIBOR plus .75%  10,000  10,000
                                             ------- -------
  Total long-term debt                       $35,000 $35,000
                                             ======= =======

    Payments of interest and principal on the surplus notes, subordinated to
   all other indebtedness, may be made only with the prior approval of the
insurance department of the state of domicile. Subject to the prior 
 approval of the Superintendent, the surplus notes may be redeemed, in
whole or in part, at the election of MLIG at any time.              

  The aggregate maturities of long-term debt for the Company are payable
upon regulatory approval.                                           

    There are no principal payments due on the notes payable during the next
five years.                                                         

     Interest expense related to the Company's indebtedness, included in other
  expenses, was $2,049 thousand, $1,640 thousand and $2,136 thousand for
the years ended December 31, 2003, 2002 and 2001, respectively.     

7.  INCOME TAXES                                                                

The provision for income taxes for operations was as follows:       

                                                                [Download Table]

                                             Years Ended December 31,   
                                           ---------------------------- 
                                             2003      2002      2001   
                                           --------  --------  -------- 
                                              (Dollars in thousands)    
                                                                        
Current income tax expense (benefit)                                    
  Federal                                  $ 55,612  $ 15,353  $ (9,669)
  State                                       2,507         -         - 
Deferred income tax benefit                                             
  Federal                                   (38,540)  (24,387)   (9,187)
  State                                      (1,284)        -         - 
                                           --------  --------  -------- 
Provision for income tax expense (benefit) $ 18,295  $ (9,034) $(18,856)
                                           ========  ========  ======== 

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     Reconciliations of the income tax provision at the U.S. statutory rate to
      the provision for income taxes as reported for operations were as follows:

                                                                [Download Table]

                                                Years Ended December 31,  
                                               -------------------------- 
                                                 2003     2002     2001   
                                               -------  -------  -------- 
                                                 (Dollars in thousands)   
                                                                          
Tax provision (benefit) at U.S. statutory rate $19,487  $(6,298) $(16,171)
Tax effect of:                                                            
  Tax exempt investment income                  (2,212)  (2,735)   (2,685)
  State tax net of federal benefit                 795       (1)        - 
  Other, net                                       225        -         - 
                                               -------  -------  -------- 
Provision for income tax expense (benefit)     $18,295  $(9,034) $(18,856)
                                               =======  =======  ======== 

     Deferred income taxes represent the tax effect of the differences between
     the book and tax bases of assets and liabilities. Net deferred income tax
assets and liabilities consisted of the following:                  

                                                                [Download Table]

                                             December 31,      
                                          -------------------- 
                                            2003       2002    
                                           --------  --------  
                                          (Dollars in thousands
                                                               
Deferred income tax assets:                                    
  Liability for future policy benefits    $218,403   $ 97,708  
  Loss and credit carryforwards                  -      6,118  
  Other, net                                 1,878        875  
                                           --------  --------  
  Total deferred tax assets                220,281    104,701  
                                           --------  --------  
Deferred income tax liabilities:                               
  Deferred policy acquisition costs        158,701     82,535  
  Investments                               16,366     19,950  
  Unrealized gain on investments            21,144     16,806  
  Other, net                                 1,284          -  
                                           --------  --------  
  Total deferred tax liabilities           197,495    119,291  
                                           --------  --------  
Net deferred income tax asset (liability) $ 22,786   $(14,590) 
                                           ========  ========  

  The Company had no valuation allowance related to tax benefits for the
years ended December 31, 2003 and 2002.                             

    All years through and including 1999 are closed and no longer subject to
    IRS audit. The years 2000 and forward are open and subject to audit. The
     Company believes that any adjustments that might be required for the open
years will not have a material effect on the Company's financial    
statements.                                                         

 The Company joins MetLife's includable affiliates in filing a federal
  income tax return in 2003. The consolidating companies have executed a
  Tax Allocation Agreement. Under this agreement, current federal income
     tax expense (benefit) is computed on a separate return basis and provides
    that members shall make payments or receive reimbursements to the extent
     that their income (losses) contributes to or reduces consolidated federal
  tax expense. Pursuant to the tax allocation agreement, the amounts due
from affiliates are $32,021 thousand at December 31, 2003.          

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8.  COMMITMENTS AND CONTINGENCIES                                               

Litigation                                                          

   Regulatory bodies have contacted the Company or its affiliates and have
requested information relating to market timing and late trading of 
   mutual funds and variable insurance products. The Company believes that
these inquiries are similar to those made to many financial services
     companies as part of an industry-wide investigation by various regulatory
    agencies into the practices, policies and procedures relating to trading
   in mutual fund shares. The Company or its affiliates are in the process
    of responding and are fully cooperating with regard to these information
   requests and inquiries. The Company at the present time is not aware of
any systemic problems with respect to such matters that may have a  
material adverse effect on the Company's financial position.        

Various litigation, claims and assessments against the Company, in  
     addition to those discussed above and those otherwise provided for in the
Company's financial statements, have arisen in the course of the    
     Company's business, including, but not limited to, in connection with its
activities as an insurer, employer, investor, investment advisor and
taxpayer. Further, state insurance regulatory authorities and other 
federal and state authorities regularly make inquiries and conduct  
investigations concerning the Company's compliance with applicable  
insurance and other laws and regulations.                           

Summary                                                             

  It is not feasible to predict or determine the ultimate outcome of all
     pending investigations and legal proceedings or provide reasonable ranges
    of potential losses, in connection with specific matters. In some of the
matters referred to above, very large and/or indeterminate amounts, 
   including punitive and treble damages, are sought. Although in light of
  these considerations it is possible that an adverse outcome in certain
   cases could have a material adverse effect upon the Company's financial
position, based on information currently known by the Company's     
   management, in its opinion, the outcomes of such pending investigations
 and legal proceedings are not likely to have such an effect. However,
   given the large and/or indeterminate amounts sought in certain of these
   matters and the inherent unpredictability of litigation, it is possible
     that an adverse outcome in certain matters could, from time to time, have
  a material adverse effect on the Company's net income or cash flows in
particular quarterly or annual periods.                             

Commitments to Fund Partnership Investments                         

Starting in 2003, the Company makes commitments to fund partnership 
investments in the normal course of business. The amounts of these  
     unfunded commitments were $652 thousand at December 31, 2003. The Company
    anticipates that these amounts will be invested in the partnerships over
the next three to five years.                                       

9.  EQUITY                                                                      

Dividend restrictions                                               

 Under the Delaware Insurance Law, the maximum amount of distributions
which can be made to the Company's parent in any given year, without
     prior approval by the Delaware Commissioner of Insurance, is equal to the
greater of (i) 10% of the Company's surplus as of December 31 of the
 preceding calendar year, or (ii) the net gain from operations for the
preceding calendar year (excluding realized investment gains). Any  
dividends paid, whether or not in excess of the                     

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aforementioned threshold, from a source other than statutory earned 
    surplus also requires the prior approval of the Delaware Commissioner of
Insurance. At December 31, 2003, the maximum amount of dividends the
Company could pay MLIG in 2004 without prior approval from the state
insurance regulatory authorities is $ 95,915 thousand.              

Statutory Equity and Income                                         

Applicable insurance department regulations require that insurance  
  subsidiaries prepare statutory financial statements in accordance with
   statutory accounting practices prescribed or permitted by the insurance
department of the state of domicile. Statutory accounting practices 
primarily differ from GAAP by charging policy acquisition costs to  
     expense as incurred, establishing future policy benefit liabilities using
different actuarial assumptions, reporting surplus notes as surplus 
  instead of debt and valuing securities on a different basis. Statutory
 net income of the Company, as filed with the Department, was $101,210
thousand, $13,402 thousand and $1,334 thousand for the years ended  
  December 31, 2003, 2002, and 2001, respectively; statutory capital and
surplus, as filed, was $295,857 thousand and $148,055 thousand at   
December 31, 2003 and 2002, respectively.                           

The National Association of Insurance Commissioners adopted the     
 Codification of Statutory Accounting Principles (the "Codification"),
   which is intended to standardize regulatory accounting and reporting to
state insurance departments, and became effective January 1, 2001.  
  However, statutory accounting principles continue to be established by
  individual state laws and permitted practices. The Department required
adoption of the Codification, with certain modifications, for the   
    preparation of statutory financial statements effective January 1, 2001.

Other Comprehensive Income                                          

    The following table sets forth the reclassification adjustments required
for the years ended December 31, 2003, 2002 and 2001 in other       
comprehensive income that are included as part of net income for the
 current year that have been reported as a part of other comprehensive
income in the current or prior year:                                

                                                        [Enlarge/Download Table]

                                                               Years Ended December 31,  
                                                              -------------------------- 
                                                                2003     2002      2001  
                                                              -------  --------  ------- 
                                                                (Dollars in thousands)   
                                                                                         
Holding gains (losses) on investments arising during the year $(2,590) $ 34,600  $(6,644)
Income tax effect of holding (gains) or losses                    906   (11,749)   1,945 
Reclassification adjustments:                                                            
  Recognized holding losses included in current year                                     
    income                                                      4,377    33,997   24,008 
  Amortization of premiums and accretion of discounts                                    
    associated                                                                           
    with investments                                           18,048     5,285      (52)
  Recognized holding (losses) gains allocated to other                                   
    policyholder amounts                                       (1,878)        -        - 
  Income tax effect                                            (7,191)  (13,513)  (8,385)
Allocation of holding losses on investments relating to other                            
  policyholder amounts                                         (5,564)  (35,836)  (6,199)
Income tax effect of allocation of holding gains or losses to                            
  other policyholder amounts                                    1,947    12,327    2,169 
                                                              -------  --------  ------- 
Other comprehensive income                                    $ 8,055  $ 25,111  $ 6,842 
                                                              =======  ========  ======= 

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10. OTHER EXPENSES                                                              

Other expenses were comprised of the following:                     

                                                                [Download Table]

                                              Years Ended December 31,    
                                           ------------------------------ 
                                              2003       2002      2001   
                                           ---------  ---------  -------- 
                                               (Dollars in thousands)     
                                                                          
Commissions                                $ 202,395  $ 100,871  $ 29,518 
Interest and debt issue costs                  2,049      1,640     2,136 
Amortization of policy acquisition costs      13,383      1,695   (14,971)
Capitalization of policy acquisition costs  (248,954)  (128,517)   (7,579)
Rent, net of sublease income                       -       (122)      714 
Other                                        107,463     84,380    94,310 
                                           ---------  ---------  -------- 
  Total other expenses                     $  76,336  $  59,947  $104,128 
                                           =========  =========  ======== 

11. FAIR VALUE INFORMATION                                                      

   The estimated fair values of financial instruments have been determined
 by using available market information and the valuation methodologies
    described below. Considerable judgment is often required in interpreting
market data to develop estimates of fair value. Accordingly, the    
   estimates presented herein may not necessarily be indicative of amounts
     that could be realized in a current market exchange. The use of different
    assumptions or valuation methodologies may have a material effect on the
estimated fair value amounts.                                       

   Amounts related to the Company's financial instruments were as follows:

                                                                [Download Table]

                                                                   Estimated 
                                               Notional  Carrying    Fair    
                                                Amount    Value      Value   
December 31, 2003                              -------- ---------- ----------
                                                   (Dollars in thousands)    
                                                                             
Assets:                                                                      
  Fixed maturities                                      $3,522,671 $3,522,671
  Equity securities                                     $    2,027 $    2,027
  Mortgage loans on real estate                         $  431,973 $  467,190
  Policy loans                                          $   35,768 $   35,768
  Short-term investments                                $  137,295 $  137,295
  Cash and cash equivalents                             $  199,952 $  199,952
  Commitments to fund partnership investments    $652   $        - $        -
Liabilities:                                                                 
  Policyholder account balances                         $3,769,822 $3,317,970
  Long-term debt                                        $   35,000 $   35,000
  Payable under securities loaned transactions          $  667,853 $  667,853

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                                                                [Download Table]


                                                Carrying   Estimated 
                                                 Value     Fair Value
December 31, 2002                              ----------  ----------
                                               (Dollars in thousands)
                                                                     
Assets:                                                              
  Fixed maturities                             $2,599,321  $2,599,321
  Equity securities                            $    1,929  $    1,929
  Mortgage loans on real estate                $  437,721  $  483,604
  Policy loans                                 $   37,933  $   37,933
  Short-term investments                       $   63,340  $   63,340
  Cash and cash equivalents                    $   41,452  $   41,452
Liabilities:                                                         
  Policyholder account balances                $2,837,425  $2,713,674
  Long-term debt                               $   35,000  $   35,000
  Payable under securities loaned transactions $  224,569  $  224,569

     The methods and assumptions used to estimate the fair values of financial
instruments are summarized as follows:                              

Fixed Maturities and Equity Securities                        

   The fair value of fixed maturities and equity securities are based upon
     quotations published by applicable stock exchanges or received from other
 reliable sources. For securities for which the market values were not
    readily available, fair values were estimated using quoted market prices
of comparable investments.                                          

   Mortgage Loans on Real Estate and Commitments to Fund Partnership
Investments                                                   

Fair values for mortgage loans on real estate are estimated by      
    discounting expected future cash flows, using current interest rates for
   similar loans with similar credit risk. Commitments to fund partnership
   investments have no stated interest rate and are assumed to have a fair
value of zero.                                                      

Policy Loans                                                  

    The carrying values for policy loans approximate fair value.

Cash and Cash Equivalents and Short-term Investments          

        The carrying values for cash and cash equivalents and short-term
       investments approximated fair values due to the short-term maturities
of these instruments.                                         

Policyholder Account Balances                                 

       The fair value of policyholder account balances is estimated by
  discounting expected future cash flows based upon interest rates
currently being offered for similar contracts with maturities 
  consistent with those remaining for the agreements being valued.

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  Long-term Debt and Payables Under Securities Loaned Transactions

       The fair values of long-term debt and payables under securities
        loaned transactions are determined by discounting expected future cash
   flows, using risk rates currently available for debt with similar
terms and remaining maturities.                               

Derivative Financial Instruments                              

     The fair value of derivative instruments, including financial
       futures, foreign currency swaps and interest rate caps are based upon
        quotations obtained from dealers or other reliable sources. See Note 3
for derivative fair value disclosures.                        

12. RELATED PARTY TRANSACTIONS                                                  

  The Company entered into a Service Agreement, an Investment Management
 Agreement and a Principal Underwriters and Selling Agreement with its
  affiliated companies for the years 2003, 2002 and 2001. The affiliated
companies are Metropolitan Life, which provides management services,
employees, policy administration functions and investment advice    
   necessary to conduct the activities of the Company and MLIG and MetLife
  Investors Distribution Company, which provide distribution services to
the Company. Expenses charged to the Company for these distribution 
  services are limited to amounts that effectively equal pricing expense
 levels. This results in residual expenses reflected in the results of
  MLIG. Expenses and fees paid to affiliated companies in 2003, 2002 and
    2001 for the Company, recorded in other expenses, were $94,935 thousand,
$58,728 thousand and $33,169 thousand, respectively.                

     The Company received a cash capital contribution of $50,000 thousand from
     MLIG for the year ended 2003. There were no capital contributions for the
years ended 2002 and 2001.                                          

In December 2001, the Company paid dividends on preferred and common
stock in the amount of $19,900 thousand to MLIG.                    

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INDEPENDENT AUDITORS' REPORT                                                    

Board of Directors and Shareholders of                                          
MetLife Investors USA Insurance Company and                                     
Contract Owners of MetLife Investors USA Separate Account A                     

We have audited the accompanying statement of assets and liabilities of each of 
the sub-accounts (as disclosed in Note 1 to the financial statements)           
comprising MetLife Investors USA Separate Account A (the Separate Account) of   
MetLife Investors USA Insurance Company as of December 31, 2003, the related    
statement of operations for each of the periods in the year then ended, the     
statements of changes in net assets for each of the periods in the two year     
period then ended, and the financial highlights for each of the periods in the  
three year period then ended. These financial statements and financial          
highlights are the responsibility of the Separate Account's management. Our     
responsibility is to express an opinion on these financial statements and       
financial highlights based on our audits.                                       

We conducted our audits in accordance with auditing standards generally         
accepted in the United States of America. Those standards require that we plan  
and perform the audit to obtain reasonable assurance about whether the          
financial statements and financial highlights are free of material              
misstatement. An audit includes examining, on a test basis, evidence supporting 
the amounts and disclosures in the financial statements. Our procedures         
included confirmation of securities owned as of December 31, 2003, by           
correspondence with the custodians and brokers. An audit also includes          
assessing the accounting principles used and significant estimates made by      
management, as well as evaluating the overall financial statement presentation. 
We believe that our audits provide a reasonable basis for our opinion.          

In our opinion, the financial statements and financial highlights referred to   
above present fairly, in all material respects, the financial position of each  
of the sub-accounts of MetLife Investors USA Separate Account A of MetLife      
Investors USA Insurance Company as of December 31, 2003, the results of their   
operations for each of the periods in the year then ended, the changes in their 
net assets for each of the periods in the two year period then ended, and their 
financial highlights for each of the periods in the three year period then      
ended, in conformity with accounting principles generally accepted in the       
United States of America.                                                       

/s/ DELOITTE & TOUCHE LLP                                                       

St. Louis, Missouri                                                             
April 15, 2004                                                                  

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Assets and Liabilities                                             
December 31, 2003                                                               

                                                        [Enlarge/Download Table]
                                                                                                        
Sub-account assets:                                                                                     
  Investments:                                                                                          
   Met Investors Series Trust (Met Investors):                                                          
    Lord Abbett Growth & Income Portfolio                               12,225,790 shares $  298,431,528
    Lord Abbett Growth & Income Portfolio B                             25,776,118 shares    626,101,909
    Lord Abbett Bond Debenture Portfolio                                    82,941 shares        998,612
    Lord Abbett Bond Debenture Portfolio B                              40,524,126 shares    485,073,792
    JP Morgan Quality Bond Portfolio                                     2,803,352 shares     33,219,726
    Met/Putnam Research Portfolio                                        2,848,316 shares     22,815,011
    Met/Putnam Research Portfolio B                                      8,592,649 shares     68,483,413
    Oppenheimer Capital Appreciation Portfolio B                        49,152,473 shares    407,474,001
    PIMCO Inflation Protected Bond Portfolio B                          26,024,744 shares    267,794,617
    PIMCO Money Market Portfolio B                                     117,274,847 shares    117,274,847
    Janus Aggressive Growth Portfolio B                                 25,310,246 shares    176,918,622
    PIMCO Total Return Bond Portfolio                                    1,956,136 shares     22,710,739
    PIMCO Total Return Bond Portfolio B                                 41,590,191 shares    479,950,800
    PIMCO Innovation Portfolio                                             133,964 shares        647,044
    PIMCO Innovation Portfolio B                                         8,771,997 shares     42,017,863
    T Rowe Price Mid Cap Growth Portfolio B                             32,172,312 shares    203,972,459
    MFS Research International Portfolio B                              12,410,696 shares    121,500,710
    AIM Small Cap Growth Portfolio                                          30,680 shares        369,081
    AIM Small Cap Growth Portfolio B                                    12,025,747 shares    143,948,196
    AIM Mid Cap Core Equity Portfolio B                                 11,957,797 shares    146,961,328
    Harris Oakmark International Portfolio B                            16,674,384 shares    197,424,709
    Third Avenue Small Cap Value Portfolio                                  49,725 shares        577,800
    Third Avenue Small Cap Value Portfolio B                            19,257,809 shares    223,583,167
   AIM Variable Insurance Funds, Inc. (AIM):                                                            
    Premier Equity Fund                                                     75,797 shares      1,533,375
    Capital Appreciation Fund                                               37,655 shares        801,309
    International Growth Fund                                               41,364 shares        663,479
    Balanced Fund                                                          117,541 shares      1,174,236
   MFS Variable Insurance Trust (MFS):                                                                  
    Research Series                                                         28,194 shares        376,389
    Investors Trust Series                                                  12,223 shares        199,719
    New Discovery Series                                                    25,034 shares        349,469
   Oppenheimer Variable Account Funds (Oppenheimer):                                                    
    Main Street Growth & Income Fund                                        88,435 shares      1,697,953
    Bond Fund                                                               38,853 shares        443,706
    Money Fund                                                             541,687 shares        541,687
    Main Street Small Cap Growth Fund                                       13,578 shares        182,493
    Strategic Bond Fund                                                     49,961 shares        252,302
   Variable Insurance Products Fund, Fund II and Fund III (Fidelity):                                   
    Asset Manager Portfolio                                             11,994,812 shares    173,444,974
    Growth Portfolio                                                     8,695,448 shares    269,906,711
    Contrafund Portfolio                                                10,801,141 shares    249,830,386
    Overseas Portfolio                                                     791,883 shares     12,345,462
    Equity-Income Portfolio                                              1,091,819 shares     25,308,360
    Index 500 Portfolio                                                  1,308,897 shares    165,091,158
    Money Market Portfolio                                              26,629,538 shares     26,629,538

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Assets and Liabilities                                             
December 31, 2003                                                               

                                                        [Enlarge/Download Table]
                                                                                       
Sub-account assets, continued:                                                         
  Investments, continued:                                                              
   Scudder Variable Series I (Scudder I):                                              
    International Portfolio                             2,561,151 shares $   21,155,108
   Metropolitan Life Series (MetLife):                                                 
    Davis Venture Value Fund                               30,997 shares        783,302
    Davis Venture Value Fund E                         16,758,415 shares    421,976,900
    Harris Oakmark Focused Value Fund                      16,261 shares      3,646,678
    Harris Oakmark Focused Value Fund B                 1,853,516 shares    409,942,096
    Jennison Growth Portfolio B                        18,457,647 shares    184,022,742
    MFS Total Return Series                                 5,552 shares        766,951
    Putnam International Stock Portfolio                   37,085 shares        365,662
    Janus Mid Cap Portfolio                                64,936 shares        909,749
    Russell 2000 Index Portfolio                          186,646 shares      2,230,425
    Met/Putnam Voyager Portfolio A                         92,797 shares        419,443
    SSR Aurora Portfolio                                  165,756 shares      2,754,861
    SSR Bond Income Portfolio                               5,698 shares        658,735
    SSR Large Cap Value Portfolio                          19,905 shares        212,385
    Stock Index Portfolio                               2,365,941 shares     69,676,956
    Stock Index Portfolio B                             4,718,077 shares    135,880,626
    Alger Equity Growth                                    10,941 shares        204,813
    Lehman Brothers Aggregate Bond Index                   64,298 shares        702,781
    FI Mid Cap Opportunities                               71,202 shares        819,540
    Harris Oakmark Large Cap Value                        145,209 shares      1,751,217
    Morgan Stanley EAFE Index                             109,178 shares      1,069,948
    Mid Cap Stock Index                                   124,865 shares      1,485,897
   VanKampen LIT Funds (VanKampen):                                                    
    Emerging Growth Fund                                   21,804 shares        530,047
    Enterprise Fund                                        12,958 shares        170,007
    Growth & Income Fund                                   18,494 shares        315,500
   Federated Investors Insurance Company (Federated):                                  
    American Leaders Fund II                               33,936 shares        648,169
    High Income Bond Fund II                               32,929 shares        263,099
    Growth Strategic Fund II                               11,113 shares        202,365
    Equity Income Fund II                                  27,739 shares        336,474
   Neuberger Berman (Neuberger):                                                       
    Genesis Trust                                             449 shares         16,629
   The Alger American Fund (Alger):                                                    
    Small Capitalization Fund                           3,424,905 shares     59,524,857
   T Rowe Price Funds (T Rowe):                                                        
    Growth Fund                                           436,588 shares     10,622,175
    International Stock Fund                               91,808 shares      1,054,871
    Prime Reserve Fund                                  1,437,342 shares      1,437,342
   Janus Capital Funds Corp. (Janus):                                                  
    Aspen Worldwide Growth                                    262 shares          6,753
   American Funds Corp. (American):                                                    
    Global Small Capitalization Fund                       90,992 shares      1,281,166
    Growth Fund                                           153,385 shares      6,979,020
    Growth & Income Fund                                  145,649 shares      4,876,338
                                                                         --------------
      Total assets                                                       $6,368,724,307
                                                                         ==============

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Assets and Liabilities                                             
December 31, 2003                                                               

                                                                [Download Table]
                                                                               
Sub-account liabilities:                                                       
  Due to/(from) general account, net                                           
   Met Investors Lord Abbett Growth & Income Portfolio          $      257,572 
   Met Investors Lord Abbett Growth & Income Portfolio B                     4 
   Met Investors Lord Abbett Bond Debenture Portfolio                    1,368 
   Met Investors Lord Abbett Bond Debenture Portfolio B                      2 
   Met Investors JP Morgan Quality Bond Portfolio                       35,568 
   Met Investors Met/Putnam Research Portfolio                          24,405 
   Met Investors Met/Putnam Research Portfolio B                            42 
   Met Investors Oppenheimer Capital Appreciation Portfolio B                2 
   Met Investors PIMCO Inflation Protected Bond Portfolio B                 10 
   Met Investors PIMCO Money Market Portfolio B                        (12,611)
   Met Investors Janus Aggressive Growth Portfolio B                        62 
   Met Investors PIMCO Total Return Bond Portfolio                      24,051 
   Met Investors PIMCO Total Return Bond Portfolio B                         3 
   Met Investors PIMCO Innovation Portfolio                                757 
   Met Investors PIMCO Innovation Portfolio B                              142 
   Met Investors T Rowe Price Mid Cap Growth Portfolio B                    15 
   Met Investors MFS Research International Portfolio B                     17 
   Met Investors AIM Small Cap Growth Portfolio                            532 
   Met Investors AIM Small Cap Growth Portfolio B                           10 
   Met Investors AIM Mid Cap Core Equity Portfolio B                        68 
   Met Investors Harris Oakmark International Portfolio B                   35 
   Met Investors Third Avenue Small Cap Value Portfolio                    721 
   Met Investors Third Avenue Small Cap Value Portfolio B                   72 
   AIM Premier Equity Fund                                               1,924 
   AIM Capital Appreciation Fund                                         1,003 
   AIM International Growth Fund                                           849 
   AIM Balanced Fund                                                     1,497 
   MFS Research Series                                                     481 
   MFS Investors Trust Series                                              252 
   MFS New Discovery Series                                                429 
   Oppenheimer Main Street Growth & Income Fund                          2,117 
   Oppenheimer Bond Fund                                                   571 
   Oppenheimer Money Fund                                                  597 
   Oppenheimer Main Street Small Cap Growth Fund                           230 
   Oppenheimer Strategic Bond Fund                                         323 
   Fidelity Asset Manager Portfolio                                   (115,404)
   Fidelity Growth Portfolio                                           647,200 
   Fidelity Contrafund Portfolio                                       324,421 
   Fidelity Overseas Portfolio                                          11,106 
   Fidelity Equity-Income Portfolio                                     32,514 
   Fidelity Index 500 Portfolio                                        178,781 
   Fidelity Money Market Portfolio                                     (43,494)
   Scudder I International Portfolio                                  (124,460)
   MetLife Davis Venture Value Fund                                        971 
   MetLife Davis Venture Value Fund E                                        2 
   MetLife Harris Oakmark Focused Value Fund                             4,322 
   MetLife Harris Oakmark Focused Value Fund B                              46 
   MetLife Jennison Growth Portfolio B                                      53 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Assets and Liabilities                                             
December 31, 2003                                                               

                                                                [Download Table]
                                                                               
Sub-account liabilities, continued:                                            
  Due to/(from) general account, net, continued:                               
   MetLife MFS Total Return Series                              $          997 
   MetLife Putnam International Stock Portfolio                            484 
   MetLife Janus Mid Cap Portfolio                                       1,026 
   MetLife Russell 2000 Index Portfolio                                  2,668 
   MetLife Met/Putnam Voyager Portfolio A                                  456 
   MetLife SSR Aurora Portfolio                                          3,167 
   MetLife SSR Bond Income Portfolio                                     1,184 
   MetLife SSR Large Cap Value Portfolio                                   238 
   MetLife Stock Index Portfolio                                        82,109 
   MetLife Stock Index Portfolio B                                          57 
   MetLife Alger Equity Growth                                             262 
   MetLife Lehman Brothers Aggregate Bond Index                            839 
   MetLife FI Mid Cap Opportunities                                      1,006 
   MetLife Harris Oakmark Large Cap Value                                1,976 
   MetLife Morgan Stanley EAFE Index                                     1,305 
   MetLife Mid Cap Stock Index                                           1,798 
   Van Kampen Emerging Growth Fund                                         628 
   Van Kampen Enterprise Fund                                              144 
   Van Kampen Growth & Income Fund                                         355 
   Federated American Leaders Fund II                                      829 
   Federated High Income Bond Fund II                                      337 
   Federated Growth Strategic Fund II                                      254 
   Federated Equity Income Fund II                                         431 
   Neuberger Genesis Trust                                              (1,289)
   Alger Small Capitalization Fund                                      54,950 
   T Rowe Growth Fund                                                  (15,504)
   T Rowe International Stock Fund                                      (2,865)
   T Rowe Prime Reserve Fund                                               477 
   Janus Aspen Worldwide Growth                                         (2,852)
   American Global Small Capitalization Fund                             1,450 
   American Growth Fund                                                  8,394 
   American Growth & Income Fund                                         5,786 
                                                                -------------- 
      Total liabilities                                         $    1,410,275 
                                                                ============== 
Sub-account net assets:                                                        
  Accumulation units:                                                          
   Met Investors Lord Abbett Growth & Income Portfolio          $  298,173,956 
   Met Investors Lord Abbett Growth & Income Portfolio B           626,036,268 
   Met Investors Lord Abbett Bond Debenture Portfolio                  997,244 
   Met Investors Lord Abbett Bond Debenture Portfolio B            485,042,869 
   Met Investors JP Morgan Quality Bond Portfolio                   33,184,158 
   Met Investors Met/Putnam Research Portfolio                      22,790,606 
   Met Investors Met/Putnam Research Portfolio B                    68,342,062 
   Met Investors Oppenheimer Capital Appreciation Portfolio B      407,457,734 
   Met Investors PIMCO Inflation Protected Bond Portfolio B        267,766,810 
   Met Investors PIMCO Money Market Portfolio B                    117,134,203 
   Met Investors Janus Aggressive Growth Portfolio B               176,918,560 
   Met Investors PIMCO Total Return Bond Portfolio                  22,686,688 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Assets and Liabilities                                             
December 31, 2003                                                               

                                                                [Download Table]
                                                                          
Sub-account net assets, continued:                                        
  Accumulation units, continued:                                          
   Met Investors PIMCO Total Return Bond Portfolio B        $  479,813,419
   Met Investors PIMCO Innovation Portfolio                        646,287
   Met Investors PIMCO Innovation Portfolio B                   42,017,721
   Met Investors T Rowe Price Mid Cap Growth Portfolio B       203,962,594
   Met Investors MFS Research International Portfolio B        121,466,834
   Met Investors AIM Small Cap Growth Portfolio                    368,549
   Met Investors AIM Small Cap Growth Portfolio B              143,948,186
   Met Investors AIM Mid Cap Core Equity Portfolio B           146,954,193
   Met Investors Harris Oakmark International Portfolio B      197,424,674
   Met Investors Third Avenue Small Cap Value Portfolio            577,079
   Met Investors Third Avenue Small Cap Value Portfolio B      223,572,668
   AIM Premier Equity Fund                                       1,531,451
   AIM Capital Appreciation Fund                                   800,306
   AIM International Growth Fund                                   662,630
   AIM Balanced Fund                                             1,172,739
   MFS Research Series                                             375,908
   MFS Investors Trust Series                                      199,467
   MFS New Discovery Series                                        349,040
   Oppenheimer Main Street Growth & Income Fund                  1,695,836
   Oppenheimer Bond Fund                                           443,135
   Oppenheimer Money Fund                                          541,090
   Oppenheimer Main Street Small Cap Growth Fund                   182,263
   Oppenheimer Strategic Bond Fund                                 251,979
   Fidelity Asset Manager Portfolio                            173,560,378
   Fidelity Growth Portfolio                                   269,259,511
   Fidelity Contrafund Portfolio                               249,505,965
   Fidelity Overseas Portfolio                                  12,334,356
   Fidelity Equity-Income Portfolio                             25,275,846
   Fidelity Index 500 Portfolio                                164,912,377
   Fidelity Money Market Portfolio                              26,673,032
   Scudder I International Portfolio                            21,279,568
   MetLife Davis Venture Value Fund                                782,331
   MetLife Davis Venture Value Fund E                          421,802,752
   MetLife Harris Oakmark Focused Value Fund                     3,642,356
   MetLife Harris Oakmark Focused Value Fund B                 409,859,958
   MetLife Jennison Growth Portfolio B                         184,013,470
   MetLife MFS Total Return Series                                 765,954
   MetLife Putnam International Stock Portfolio                    365,178
   MetLife Janus Mid Cap Portfolio                                 908,723
   MetLife Russell 2000 Index Portfolio                          2,227,757
   MetLife Met/Putnam Voyager Portfolio A                          418,987
   MetLife SSR Aurora Portfolio                                  2,751,694
   MetLife SSR Bond Income Portfolio                               657,551
   MetLife SSR Large Cap Value Portfolio                           212,147
   MetLife Stock Index Portfolio                                69,594,847
   MetLife Stock Index Portfolio B                             135,880,569
   MetLife Alger Equity Growth                                     204,551
   MetLife Lehman Brothers Aggregate Bond Index                    701,942

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Assets and Liabilities                                             
December 31, 2003                                                               

                                                                [Download Table]
                                                                              
Sub-account net assets, continued:                                            
  Accumulation units, continued:                                              
   MetLife FI Mid Cap Opportunities                             $      818,534
   MetLife Harris Oakmark Large Cap Value                            1,749,241
   MetLife Morgan Stanley EAFE Index                                 1,068,643
   MetLife Mid Cap Stock Index                                       1,484,099
   Van Kampen Emerging Growth Fund                                     529,419
   Van Kampen Enterprise Fund                                          169,863
   Van Kampen Growth & Income Fund                                     315,145
   Federated American Leaders Fund II                                  647,340
   Federated High Income Bond Fund II                                  262,762
   Federated Growth Strategic Fund II                                  202,111
   Federated Equity Income Fund II                                     336,043
   Neuberger Genesis Trust                                              17,918
   Alger Small Capitalization Fund                                  59,469,907
   T Rowe Growth Fund                                               10,637,679
   T Rowe International Stock Fund                                   1,057,736
   T Rowe Prime Reserve Fund                                         1,436,865
   Janus Aspen Worldwide Growth                                          9,605
   American Global Small Capitalization Fund                         1,279,716
   American Growth Fund                                              6,970,626
   American Growth & Income Fund                                     4,870,552
                                                                --------------
                                                                $6,366,414,810
                                                                ==============

  Annuitization units:                                                        
   Met Investors Lord Abbett Growth & Income Portfolio B        $       65,637
   Met Investors Lord Abbett Bond Debenture Portfolio B                 30,921
   Met Investors Met/Putnam Research Portfolio B                       141,309
   Met Investors Oppenheimer Capital Appreciation Portfolio B           16,265
   Met Investors PIMCO Inflation Protected Bond Portfolio B             27,797
   Met Investors PIMCO Money Market Portfolio B                        153,255
   Met Investors PIMCO Total Return Bond Portfolio B                   137,378
   Met Investors T Rowe Price Mid Cap Growth Portfolio B                 9,850
   Met Investors MFS Research International Portfolio B                 33,859
   Met Investors AIM Mid Cap Core Equity Portfolio B                     7,067
   Met Investors Third Avenue Small Cap Value Portfolio B               10,427
   MetLife Davis Venture Value Fund E                                  174,146
   MetLife Harris Oakmark Focused Value Fund B                          82,092
   MetLife Jennison Growth Portfolio B                                   9,219
                                                                --------------
                                                                $      899,222
                                                                --------------
      Total Net Assets                                          $6,367,314,032
                                                                ==============

See accompanying notes to financial statements.                                 

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                               Met Investors                    
                                                  ------------------------------------------------------------------------------
                                                    Lord Abbett    Lord Abbett    Lord Abbett   Lord Abbett       JP Morgan     
                                                     Growth &       Growth &         Bond          Bond            Quality      
                                                      Income         Income        Debenture     Debenture          Bond        
                                                     Portfolio     Portfolio B     Portfolio    Portfolio B       Portfolio     
                                                  --------------  -------------  ------------- -------------    -------------   
                                                                                                                                
Income:                                                                                                                         
  Dividends                                       $    2,993,767      2,396,162         15,506     7,582,717        1,330,119   
                                                  --------------  -------------  ------------- -------------    -------------   
Expenses:                                                                                                                       
  Mortality and expense risk                           2,883,632      4,740,456          4,460     3,829,632          392,448   
  Administrative fee                                     585,000        856,723            500       686,584           80,300   
                                                  --------------  -------------  ------------- -------------    -------------   
    Total expenses                                     3,468,632      5,597,179          4,960     4,516,216          472,748   
                                                  --------------  -------------  ------------- -------------    -------------   
    Net investment income (loss)                        (474,865)    (3,201,017)        10,546     3,066,501          857,371   
                                                  --------------  -------------  ------------- -------------    -------------   
Net realized gain (loss) on investments:                                                                                        
  Realized gain (loss) on sale of fund shares        (10,538,981)        (8,478)        19,636     1,053,682          419,961   
  Realized gain distributions                                  -              -              -             -                -   
                                                  --------------  -------------  ------------- -------------    -------------   
    Net realized gain (loss)                         (10,538,981)        (8,478)        19,636     1,053,682          419,961   
                                                  --------------  -------------  ------------- -------------    -------------   
Change in unrealized appreciation (depreciation)      79,535,337    103,296,681         38,036    38,206,055         (402,827)  
                                                  --------------  -------------  ------------- -------------    -------------   
    Net increase (decrease) in net assets from                                                                                  
     operations                                   $   68,521,491    100,087,186         68,218    42,326,238          874,505   
                                                  ==============  =============  ============= =============    =============   
                                                                [Download Table]


                                                  ------------------------     
                                                      Met/           Met/      
                                                     Putnam         Putnam     
                                                    Research       Research    
                                                    Portfolio     Portfolio B  
                                                  -------------  ------------- 
                                                                               
Income:                                                                        
  Dividends                                               6,738              - 
                                                  -------------  ------------- 
Expenses:                                                                      
  Mortality and expense risk                            217,401        643,042 
  Administrative fee                                     55,630        115,906 
                                                  -------------  ------------- 
    Total expenses                                      273,031        758,948 
                                                  -------------  ------------- 
    Net investment income (loss)                       (266,293)      (758,948)
                                                  -------------  ------------- 
Net realized gain (loss) on investments:                                       
  Realized gain (loss) on sale of fund shares          (453,002)      (107,147)
  Realized gain distributions                                 -              - 
                                                  -------------  ------------- 
    Net realized gain (loss)                           (453,002)      (107,147)
                                                  -------------  ------------- 
Change in unrealized appreciation (depreciation)      5,364,572     11,223,620 
                                                  -------------  ------------- 
    Net increase (decrease) in net assets from                                 
     operations                                       4,645,277     10,357,525 
                                                  =============  ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                Met Investors                   
                                                  ------------------------------------------------------------------------------
                                                   Oppenheimer         PIMCO          PIMCO          Janus          PIMCO       
                                                     Capital         Inflation        Money       Aggressive     Total Return   
                                                   Appreciation   Protected Bond     Market         Growth           Bond       
                                                   Portfolio B    Portfolio B (a)  Portfolio B    Portfolio B     Portfolio     
                                                  --------------  --------------- -------------  -------------  -------------   
                                                                                                                                
Income:                                                                                                                         
  Dividends                                       $            -         796,252        505,127              -        255,450   
                                                  --------------   -------------  -------------  -------------  -------------   
Expenses:                                                                                                                       
  Mortality and expense risk                           3,061,780       1,577,758      1,822,891      1,282,511        249,321   
  Administrative fee                                     551,626         277,710        328,325        231,042         60,270   
                                                  --------------   -------------  -------------  -------------  -------------   
    Total expenses                                     3,613,406       1,855,468      2,151,216      1,513,553        309,591   
                                                  --------------   -------------  -------------  -------------  -------------   
    Net investment income (loss)                      (3,613,406)     (1,059,216)    (1,646,089)    (1,513,553)       (54,141)  
                                                  --------------   -------------  -------------  -------------  -------------   
Net realized gain (loss) on investments:                                                                                        
  Realized gain (loss) on sale of fund shares               (573)              -              -         29,372        696,906   
  Realized gain distributions                                  -       5,184,054              -              -        209,796   
                                                  --------------   -------------  -------------  -------------  -------------   
    Net realized gain (loss)                                (573)      5,184,054              -         29,372        906,702   
                                                  --------------   -------------  -------------  -------------  -------------   
Change in unrealized appreciation (depreciation)      60,680,428       2,075,094              -     26,337,281        (88,845)  
                                                  --------------   -------------  -------------  -------------  -------------   
    Net increase (decrease) in net assets from                                                                                  
     operations                                   $   57,066,449       6,199,932     (1,646,089)    24,853,100        763,716   
                                                  ==============   =============  =============  =============  =============   
                                                                [Download Table]


                                                  ---------------------------  
                                                      PIMCO                    
                                                   Total Return      PIMCO     
                                                       Bond       Innovation   
                                                   Portfolio B   Portfolio (a) 
                                                  -------------  ------------- 
                                                                               
Income:                                                                        
  Dividends                                           5,066,621              - 
                                                  -------------  ------------- 
Expenses:                                                                      
  Mortality and expense risk                          5,141,448          2,818 
  Administrative fee                                    931,989              - 
                                                  -------------  ------------- 
    Total expenses                                    6,073,437          2,818 
                                                  -------------  ------------- 
    Net investment income (loss)                     (1,006,816)        (2,818)
                                                  -------------  ------------- 
Net realized gain (loss) on investments:                                       
  Realized gain (loss) on sale of fund shares         3,769,151          4,056 
  Realized gain distributions                         4,368,096              - 
                                                  -------------  ------------- 
    Net realized gain (loss)                          8,137,247          4,056 
                                                  -------------  ------------- 
Change in unrealized appreciation (depreciation)      2,138,500         55,774 
                                                  -------------  ------------- 
    Net increase (decrease) in net assets from                                 
     operations                                       9,268,931         57,012 
                                                  =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                Met Investors                  
                                                  -----------------------------------------------------------------------------
                                                                   T Rowe Price       MFS            AIM            AIM        
                                                       PIMCO         Mid Cap       Research       Small Cap      Small Cap     
                                                    Innovation        Growth     International     Growth         Growth       
                                                    Portfolio B    Portfolio B    Portfolio B   Portfolio (a)   Portfolio B    
                                                  --------------  -------------  -------------  -------------  -------------   
                                                                                                                               
Income:                                                                                                                        
  Dividends                                       $            -              -        680,298              -              -   
                                                  --------------  -------------  -------------  -------------  -------------   
Expenses:                                                                                                                      
  Mortality and expense risk                             317,238      1,476,428      1,041,524          1,804      1,063,224   
  Administrative fee                                      56,483        266,659        189,932              -        192,351   
                                                  --------------  -------------  -------------  -------------  -------------   
    Total expenses                                       373,721      1,743,087      1,231,456          1,804      1,255,575   
                                                  --------------  -------------  -------------  -------------  -------------   
    Net investment income (loss)                        (373,721)    (1,743,087)      (551,158)        (1,804)    (1,255,575)  
                                                  --------------  -------------  -------------  -------------  -------------   
Net realized gain (loss) on investments:                                                                                       
  Realized gain (loss) on sale of fund shares           (189,629)       (17,543)       201,866         13,265        219,596   
  Realized gain distributions                                  -              -              -              -              -   
                                                  --------------  -------------  -------------  -------------  -------------   
    Net realized gain (loss)                            (189,629)       (17,543)       201,866         13,265        219,596   
                                                  --------------  -------------  -------------  -------------  -------------   
Change in unrealized appreciation (depreciation)       9,550,569     34,788,215     24,339,743         22,604     25,849,273   
                                                  --------------  -------------  -------------  -------------  -------------   
    Net increase (decrease) in net assets from                                                                                 
     operations                                   $    8,987,219     33,027,585     23,990,451         34,065     24,813,294   
                                                  ==============  =============  =============  =============  =============   
                                                                [Download Table]


                                                  ---------------------------  
                                                       AIM          Harris     
                                                     Mid Cap        Oakmark    
                                                   Core Equity   International 
                                                   Portfolio B    Portfolio B  
                                                  -------------  ------------- 
                                                                               
Income:                                                                        
  Dividends                                           1,138,558      1,522,348 
                                                  -------------  ------------- 
Expenses:                                                                      
  Mortality and expense risk                          1,024,434      1,110,688 
  Administrative fee                                    183,673        197,674 
                                                  -------------  ------------- 
    Total expenses                                    1,208,107      1,308,362 
                                                  -------------  ------------- 
    Net investment income (loss)                        (69,549)       213,986 
                                                  -------------  ------------- 
Net realized gain (loss) on investments:                                       
  Realized gain (loss) on sale of fund shares           (10,930)       (50,029)
  Realized gain distributions                                 -        489,525 
                                                  -------------  ------------- 
    Net realized gain (loss)                            (10,930)       439,496 
                                                  -------------  ------------- 
Change in unrealized appreciation (depreciation)     18,668,662     32,012,248 
                                                  -------------  ------------- 
    Net increase (decrease) in net assets from                                 
     operations                                      18,588,183     32,665,730 
                                                  =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                          Met Investors                           
                                                  -----------------------------     --------------
                                                   Third Avenue      Third Avenue                 
                                                     Small Cap        Small Cap        Premier    
                                                       Value            Value          Equity     
                                                   Portfolio (a)     Portfolio B        Fund      
                                                  --------------    -------------   ------------- 
                                                                                                  
Income:                                                                                           
  Dividends                                       $        1,964          502,815           4,258 
                                                  --------------    -------------   ------------- 
Expenses:                                                                                         
  Mortality and expense risk                               2,293        1,424,675          17,786 
  Administrative fee                                           -          254,379           1,887 
                                                  --------------    -------------   ------------- 
    Total expenses                                         2,293        1,679,054          19,673 
                                                  --------------    -------------   ------------- 
    Net investment income (loss)                            (329)      (1,176,239)        (15,415)
                                                  --------------    -------------   ------------- 
Net realized gain (loss) on investments:                                                          
  Realized gain (loss) on sale of fund shares              2,439           26,824         (95,670)
  Realized gain distributions                              3,389        1,296,167               - 
                                                  --------------    -------------   ------------- 
    Net realized gain (loss)                               5,828        1,322,991         (95,670)
                                                  --------------    -------------   ------------- 
Change in unrealized appreciation (depreciation)          61,093       38,801,843         405,709 
                                                  --------------    -------------   ------------- 
    Net increase (decrease) in net assets from                                                    
     operations                                   $       66,592       38,948,595         294,624 
                                                  ==============    =============   ============= 
                                                        [Enlarge/Download Table]

                                                                AIM                                      MFS      
                                                  --------------------------------------------      ------------- 

                                                     Capital       International                                  
                                                   Appreciation       Growth           Balanced        Research   
                                                       Fund            Fund              Fund           Series    
                                                  -------------    -------------    -------------   ------------- 
                                                                                                                  
Income:                                                                                                           
  Dividends                                                   -            3,169           21,776           2,376 
                                                  -------------    -------------    -------------   ------------- 
Expenses:                                                                                                         
  Mortality and expense risk                              9,205            7,323           12,841           4,472 
  Administrative fee                                        982              770            2,800             482 
                                                  -------------    -------------    -------------   ------------- 
    Total expenses                                       10,187            8,093           15,641           4,954 
                                                  -------------    -------------    -------------   ------------- 
    Net investment income (loss)                        (10,187)          (4,924)           6,135          (2,578)
                                                  -------------    -------------    -------------   ------------- 
Net realized gain (loss) on investments:                                                                          
  Realized gain (loss) on sale of fund shares           (72,431)         (44,012)         (55,483)        (32,903)
  Realized gain distributions                                 -                -                -               - 
                                                  -------------    -------------    -------------   ------------- 
    Net realized gain (loss)                            (72,431)         (44,012)         (55,483)        (32,903)
                                                  -------------    -------------    -------------   ------------- 
Change in unrealized appreciation (depreciation)        258,319          191,317          199,770         108,011 
                                                  -------------    -------------    -------------   ------------- 
    Net increase (decrease) in net assets from                                                                    
     operations                                         175,701          142,381          150,422          72,530 
                                                  =============    =============    =============   ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                               MFS                                             Oppenheimer    
                                                  -----------------------------  ---------------------------------------------
                                                                                  Main Street                                 
                                                     Investors         New         Growth &                                   
                                                       Trust        Discovery       Income          Bond          Money       
                                                      Series         Series          Fund           Fund          Fund        
                                                  --------------  -------------  -------------  ------------- -------------   
                                                                                                                              
Income:                                                                                                                       
  Dividends                                       $        1,224              -         14,619         23,813         6,929   
                                                  --------------  -------------  -------------  ------------- -------------   
Expenses:                                                                                                                     
  Mortality and expense risk                               2,310          4,113         19,209          5,520         8,423   
  Administrative fee                                         245            453          2,044            589         1,800   
                                                  --------------  -------------  -------------  ------------- -------------   
    Total expenses                                         2,555          4,566         21,253          6,109        10,223   
                                                  --------------  -------------  -------------  ------------- -------------   
    Net investment income (loss)                          (1,331)        (4,566)        (6,634)        17,704        (3,294)  
                                                  --------------  -------------  -------------  ------------- -------------   
Net realized gain (loss) on investments:                                                                                      
  Realized gain (loss) on sale of fund shares             (7,103)       (38,979)       (63,615)           517             -   
  Realized gain distributions                                  -              -              -              -             -   
                                                  --------------  -------------  -------------  ------------- -------------   
    Net realized gain (loss)                              (7,103)       (38,979)       (63,615)           517             -   
                                                  --------------  -------------  -------------  ------------- -------------   
Change in unrealized appreciation (depreciation)          42,890        130,599        406,032          3,878             -   
                                                  --------------  -------------  -------------  ------------- -------------   
    Net increase (decrease) in net assets from                                                                                
     operations                                   $       34,456         87,054        335,783         22,099        (3,294)  
                                                  ==============  =============  =============  ============= =============   
                                                                [Download Table]


                                                  ---------------------------   
                                                   Main Street                  
                                                      Small          Strategic  
                                                       Cap             Bond     
                                                   Growth Fund         Fund     
                                                  -------------    -------------
                                                                                
Income:                                                                         
  Dividends                                                   -           16,090
                                                  -------------    -------------
Expenses:                                                                       
  Mortality and expense risk                              1,639            3,130
  Administrative fee                                        350              361
                                                  -------------    -------------
    Total expenses                                        1,989            3,491
                                                  -------------    -------------
    Net investment income (loss)                         (1,989)          12,599
                                                  -------------    -------------
Net realized gain (loss) on investments:                                        
  Realized gain (loss) on sale of fund shares            (2,047)             141
  Realized gain distributions                                 -                -
                                                  -------------    -------------
    Net realized gain (loss)                             (2,047)             141
                                                  -------------    -------------
Change in unrealized appreciation (depreciation)         54,353           24,587
                                                  -------------    -------------
    Net increase (decrease) in net assets from                                  
     operations                                          50,317           37,327
                                                  =============    =============

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                  Fidelity          
                                                  ------------------------------------------------------------------
                                                       Asset                                                        
                                                      Manager        Growth          Contrafund       Overseas      
                                                     Portfolio      Portfolio        Portfolio        Portfolio     
                                                  --------------  -------------    -------------    -------------   
                                                                                                                    
Income:                                                                                                             
  Dividends                                       $    5,827,007        623,982          983,616           91,552   
                                                  --------------  -------------    -------------    -------------   
Expenses:                                                                                                           
  Mortality and expense risk                           1,829,757      2,714,311        2,511,346          110,027   
  Administrative fee                                     408,500        540,000          468,000           26,360   
                                                  --------------  -------------    -------------    -------------   
    Total expenses                                     2,238,257      3,254,311        2,979,346          136,387   
                                                  --------------  -------------    -------------    -------------   
    Net investment income (loss)                       3,588,750     (2,630,329)      (1,995,730)         (44,835)  
                                                  --------------  -------------    -------------    -------------   
Net realized gain (loss) on investments:                                                                            
  Realized gain (loss) on sale of fund shares         (4,651,518)   (16,397,960)      (1,627,928)      (1,261,416)  
  Realized gain distributions                                  -              -                -                -   
                                                  --------------  -------------    -------------    -------------   
    Net realized gain (loss)                          (4,651,518)   (16,397,960)      (1,627,928)      (1,261,416)  
                                                  --------------  -------------    -------------    -------------   
Change in unrealized appreciation (depreciation)      25,905,819     83,691,437       56,105,559        5,096,073   
                                                  --------------  -------------    -------------    -------------   
    Net increase (decrease) in net assets from                                                                      
     operations                                   $   24,843,051     64,663,148       52,481,901        3,789,822   
                                                  ==============  =============    =============    =============   
                                                        [Enlarge/Download Table]


                                                  --------------------------------------        
                                                     Equity-         Index            Money     
                                                     Income           500            Market     
                                                    Portfolio      Portfolio        Portfolio   
                                                  -------------  -------------    ------------- 
                                                                                                
Income:                                                                                         
  Dividends                                             430,293      3,072,856          306,459 
                                                  -------------  -------------    ------------- 
Expenses:                                                                                       
  Mortality and expense risk                            293,211      2,087,526          303,708 
  Administrative fee                                     29,081        458,868           70,772 
                                                  -------------  -------------    ------------- 
    Total expenses                                      322,292      2,546,394          374,480 
                                                  -------------  -------------    ------------- 
    Net investment income (loss)                        108,001        526,462          (68,021)
                                                  -------------  -------------    ------------- 
Net realized gain (loss) on investments:                                                        
  Realized gain (loss) on sale of fund shares          (807,406)   (14,361,585)               - 
  Realized gain distributions                                 -              -                - 
                                                  -------------  -------------    ------------- 
    Net realized gain (loss)                           (807,406)   (14,361,585)               - 
                                                  -------------  -------------    ------------- 
Change in unrealized appreciation (depreciation)      6,483,503     57,042,919                - 
                                                  -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                  
     operations                                       5,784,098     43,207,796          (68,021)
                                                  =============  =============    ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                     Scudder I                                             MetLife                 
                                                  --------------  -----------------------------------------------------------------
                                                                      Davis            Davis            Harris         Harris      
                                                                     Venture          Venture          Oakmark        Oakmark      
                                                   International      Value            Value           Focused        Focused      
                                                     Portfolio       Fund (a)         Fund E        Value Fund (a)  Value Fund B   
                                                  --------------  -------------    -------------    -------------- -------------   
                                                                                                                                   
Income:                                                                                                                            
  Dividends                                       $      133,048              -          670,195                -        111,223   
                                                  --------------  -------------    -------------    -------------  -------------   
Expenses:                                                                                                                          
  Mortality and expense risk                             208,946          3,388        3,371,430           11,975      3,194,599   
  Administrative fee                                      35,000              -          611,775                -        576,839   
                                                  --------------  -------------    -------------    -------------  -------------   
    Total expenses                                       243,946          3,388        3,983,205           11,975      3,771,438   
                                                  --------------  -------------    -------------    -------------  -------------   
    Net investment income (loss)                        (110,898)        (3,388)      (3,313,010)         (11,975)    (3,660,215)  
                                                  --------------  -------------    -------------    -------------  -------------   
Net realized gain (loss) on investments:                                                                                           
  Realized gain (loss) on sale of fund shares         (1,728,672)           264         (102,267)             556         (5,872)  
  Realized gain distributions                                  -              -                -                -              -   
                                                  --------------  -------------    -------------    -------------  -------------   
    Net realized gain (loss)                          (1,728,672)           264         (102,267)             556         (5,872)  
                                                  --------------  -------------    -------------    -------------  -------------   
Change in unrealized appreciation (depreciation)       6,214,219         88,012       74,510,314          355,482     74,648,276   
                                                  --------------  -------------    -------------    -------------  -------------   
    Net increase (decrease) in net assets from                                                                                     
     operations                                   $    4,374,649         84,888       71,095,037          344,063     70,982,189   
                                                  ==============  =============    =============    =============  =============   
                                                                [Download Table]


                                                  -----------------------        
                                                                        MFS      
                                                    Jennison           Total     
                                                     Growth            Return    
                                                   Portfolio B       Series (a)  
                                                  -------------    ------------- 
                                                                                 
Income:                                                                          
  Dividends                                             136,299                - 
                                                  -------------    ------------- 
Expenses:                                                                        
  Mortality and expense risk                          1,337,527            2,927 
  Administrative fee                                    241,239                - 
                                                  -------------    ------------- 
    Total expenses                                    1,578,766            2,927 
                                                  -------------    ------------- 
    Net investment income (loss)                     (1,442,467)          (2,927)
                                                  -------------    ------------- 
Net realized gain (loss) on investments:                                         
  Realized gain (loss) on sale of fund shares         1,849,073              774 
  Realized gain distributions                                 -                - 
                                                  -------------    ------------- 
    Net realized gain (loss)                          1,849,073              774 
                                                  -------------    ------------- 
Change in unrealized appreciation (depreciation)     25,140,667           46,065 
                                                  -------------    ------------- 
    Net increase (decrease) in net assets from                                   
     operations                                      25,547,273           43,912 
                                                  =============    ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                   MetLife                       
                                                  -------------------------------------------------------------------------------
                                                      Putnam                        Russell         Met/                         
                                                   International      Janus          2000          Putnam             SSR        
                                                       Stock         Mid Cap         Index         Voyager          Aurora       
                                                     Portfolio      Portfolio      Portfolio     Portfolio A     Portfolio (a)   
                                                  --------------  -------------  -------------  -------------    -------------   
                                                                                                                                 
Income:                                                                                                                          
  Dividends                                       $        1,973              -          2,669              -                -   
                                                  --------------  -------------  -------------  -------------    -------------   
Expenses:                                                                                                                        
  Mortality and expense risk                               4,088          8,932          9,763          4,426            9,354   
  Administrative fee                                         413          1,900          2,000            461                -   
                                                  --------------  -------------  -------------  -------------    -------------   
    Total expenses                                         4,501         10,832         11,763          4,887            9,354   
                                                  --------------  -------------  -------------  -------------    -------------   
    Net investment income (loss)                          (2,528)       (10,832)        (9,094)        (4,887)          (9,354)  
                                                  --------------  -------------  -------------  -------------    -------------   
Net realized gain (loss) on investments:                                                                                         
  Realized gain (loss) on sale of fund shares            (23,229)      (119,488)        10,428        (40,469)           3,784   
  Realized gain distributions                                  -              -              -              -                -   
                                                  --------------  -------------  -------------  -------------    -------------   
    Net realized gain (loss)                             (23,229)      (119,488)        10,428        (40,469)           3,784   
                                                  --------------  -------------  -------------  -------------    -------------   
Change in unrealized appreciation (depreciation)         106,170        347,581        341,057        119,930          348,713   
                                                  --------------  -------------  -------------  -------------    -------------   
    Net increase (decrease) in net assets from                                                                                   
     operations                                   $       80,413        217,261        342,391         74,574          343,143   
                                                  ==============  =============  =============  =============    =============   
                                                                [Download Table]


                                                  -------------------------    
                                                                      SSR      
                                                       SSR         Large Cap   
                                                   Bond Income       Value     
                                                  Portfolio (a)  Portfolio (a) 
                                                  -------------  ------------- 
                                                                               
Income:                                                                        
  Dividends                                                   -          1,361 
                                                  -------------  ------------- 
Expenses:                                                                      
  Mortality and expense risk                              2,565            731 
  Administrative fee                                          -              - 
                                                  -------------  ------------- 
    Total expenses                                        2,565            731 
                                                  -------------  ------------- 
    Net investment income (loss)                         (2,565)           630 
                                                  -------------  ------------- 
Net realized gain (loss) on investments:                                       
  Realized gain (loss) on sale of fund shares               108           (106)
  Realized gain distributions                                 -              - 
                                                  -------------  ------------- 
    Net realized gain (loss)                                108           (106)
                                                  -------------  ------------- 
Change in unrealized appreciation (depreciation)         12,545         20,377 
                                                  -------------  ------------- 
    Net increase (decrease) in net assets from                                 
     operations                                          10,088         20,901 
                                                  =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                    MetLife       
                                                  ----------------------------------------------------------------
                                                                                                        Lehman    
                                                       Stock            Stock            Alger         Brothers   
                                                       Index            Index            Equity       Aggregate   
                                                   Portfolio (a)     Portfolio B       Growth (a)   Bond Index (a)
                                                  --------------    -------------    -------------  --------------
                                                                                                                  
Income:                                                                                                           
  Dividends                                       $            -        1,044,199                -              - 
                                                  --------------    -------------    -------------  ------------- 
Expenses:                                                                                                         
  Mortality and expense risk                             291,546        1,149,358              975          3,040 
  Administrative fee                                      58,930          205,282                -              - 
                                                  --------------    -------------    -------------  ------------- 
    Total expenses                                       350,476        1,354,640              975          3,040 
                                                  --------------    -------------    -------------  ------------- 
    Net investment income (loss)                        (350,476)        (310,441)            (975)        (3,040)
                                                  --------------    -------------    -------------  ------------- 
Net realized gain (loss) on investments:                                                                          
  Realized gain (loss) on sale of fund shares            106,930          193,706              340         (1,569)
  Realized gain distributions                                  -                -                -              - 
                                                  --------------    -------------    -------------  ------------- 
    Net realized gain (loss)                             106,930          193,706              340         (1,569)
                                                  --------------    -------------    -------------  ------------- 
Change in unrealized appreciation (depreciation)       7,763,978       21,269,435           20,041          8,123 
                                                  --------------    -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                                    
     operations                                   $    7,520,432       21,152,700           19,406          3,514 
                                                  ==============    =============    =============  ============= 
                                                        [Enlarge/Download Table]


                                                  -------------------------------------------    

                                                                    Harris Oakmark Morgan Stanley
                                                     FI Mid Cap       Large Cap         EAFE     
                                                  Opportunities (a)   Value (a)      Index (a)   
                                                  ----------------- -------------- --------------
                                                                                                 
Income:                                                                                          
  Dividends                                                     -               -              - 
                                                    -------------   -------------  ------------- 
Expenses:                                                                                        
  Mortality and expense risk                                3,090           5,942          5,931 
  Administrative fee                                            -               -              - 
                                                    -------------   -------------  ------------- 
    Total expenses                                          3,090           5,942          5,931 
                                                    -------------   -------------  ------------- 
    Net investment income (loss)                           (3,090)         (5,942)        (5,931)
                                                    -------------   -------------  ------------- 
Net realized gain (loss) on investments:                                                         
  Realized gain (loss) on sale of fund shares               3,384             316         74,614 
  Realized gain distributions                              10,704               -              - 
                                                    -------------   -------------  ------------- 
    Net realized gain (loss)                               14,088             316         74,614 
                                                    -------------   -------------  ------------- 
Change in unrealized appreciation (depreciation)           88,530         129,746         96,659 
                                                    -------------   -------------  ------------- 
    Net increase (decrease) in net assets from                                                   
     operations                                            99,528         124,120        165,342 
                                                    =============   =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                      MetLife                       Van Kampen                                  
                                                  --------------   -------------------------------------------    --------------

                                                        Mid           Emerging                        Growth &       American   
                                                     Cap Stock         Growth       Enterprise         Income        Leaders    
                                                     Index (a)          Fund           Fund             Fund         Fund II    
                                                  --------------   -------------  -------------    -------------  ------------- 
                                                                                                                                
Income:                                                                                                                         
  Dividends                                       $            -               -            826            2,255          9,901 
                                                  --------------   -------------  -------------    -------------  ------------- 
Expenses:                                                                                                                       
  Mortality and expense risk                               5,905           5,745          1,875            3,087          6,807 
  Administrative fee                                           -           1,100            350              600          1,409 
                                                  --------------   -------------  -------------    -------------  ------------- 
    Total expenses                                         5,905           6,845          2,225            3,687          8,216 
                                                  --------------   -------------  -------------    -------------  ------------- 
    Net investment income (loss)                          (5,905)         (6,845)        (1,399)          (1,432)         1,685 
                                                  --------------   -------------  -------------    -------------  ------------- 
Net realized gain (loss) on investments:                                                                                        
  Realized gain (loss) on sale of fund shares              5,458         (62,002)        (7,910)            (566)       (24,215)
  Realized gain distributions                                  -               -              -                -              - 
                                                  --------------   -------------  -------------    -------------  ------------- 
    Net realized gain (loss)                               5,458         (62,002)        (7,910)            (566)       (24,215)
                                                  --------------   -------------  -------------    -------------  ------------- 
Change in unrealized appreciation (depreciation)         144,303         179,009         43,499           67,709        158,025 
                                                  --------------   -------------  -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                                                  
     operations                                   $      143,856         110,162         34,190           65,711        135,495 
                                                  ==============   =============  =============    =============  ============= 
                                                                [Download Table]

                                                     Federated                 
                                                  -----------------------------

                                                      High          Growth     
                                                   Income Bond     Strategic   
                                                     Fund II        Fund II    
                                                  -------------  ------------- 
                                                                               
Income:                                                                        
  Dividends                                              19,418              - 
                                                  -------------  ------------- 
Expenses:                                                                      
  Mortality and expense risk                              2,982          2,148 
  Administrative fee                                        601            400 
                                                  -------------  ------------- 
    Total expenses                                        3,583          2,548 
                                                  -------------  ------------- 
    Net investment income (loss)                         15,835         (2,548)
                                                  -------------  ------------- 
Net realized gain (loss) on investments:                                       
  Realized gain (loss) on sale of fund shares            (3,235)       (16,005)
  Realized gain distributions                                 -              - 
                                                  -------------  ------------- 
    Net realized gain (loss)                             (3,235)       (16,005)
                                                  -------------  ------------- 
Change in unrealized appreciation (depreciation)         34,423         77,183 
                                                  -------------  ------------- 
    Net increase (decrease) in net assets from                                 
     operations                                          47,023         58,630 
                                                  =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                     Federated       Neuberger        Alger                       
                                                  --------------   -------------  --------------  ----------------
                                                      Equity                          Small                       
                                                      Income          Genesis     Capitalization      Growth      
                                                      Fund II          Trust           Fund            Fund       
                                                  --------------   -------------  --------------  -------------   
                                                                                                                  
Income:                                                                                                           
  Dividends                                       $        5,835               -              -          21,511   
                                                  --------------   -------------  -------------   -------------   
Expenses:                                                                                                         
  Mortality and expense risk                               3,512           1,054        578,156          67,928   
  Administrative fee                                         705             380        123,008          25,150   
                                                  --------------   -------------  -------------   -------------   
    Total expenses                                         4,217           1,434        701,164          93,078   
                                                  --------------   -------------  -------------   -------------   
    Net investment income (loss)                           1,618          (1,434)      (701,164)        (71,567)  
                                                  --------------   -------------  -------------   -------------   
Net realized gain (loss) on investments:                                                                          
  Realized gain (loss) on sale of fund shares            (17,041)        156,865     (5,252,739)     (9,975,488)  
  Realized gain distributions                                  -               8              -               -   
                                                  --------------   -------------  -------------   -------------   
    Net realized gain (loss)                             (17,041)        156,873     (5,252,739)     (9,975,488)  
                                                  --------------   -------------  -------------   -------------   
Change in unrealized appreciation (depreciation)          83,956        (160,697)    23,298,902      13,059,440   
                                                  --------------   -------------  -------------   -------------   
    Net increase (decrease) in net assets from                                                                    
     operations                                   $       68,533          (5,258)    17,344,999       3,012,385   
                                                  ==============   =============  =============   =============   
                                                        [Enlarge/Download Table]

                                                     T Rowe                            Janus     
                                                  ---------------------------      ------------- 
                                                                       Prime           Aspen     
                                                  International       Reserve        Worldwide   
                                                   Stock Fund          Fund           Growth     
                                                  -------------    -------------   ------------- 
                                                                                                 
Income:                                                                                          
  Dividends                                              11,732           11,823              65 
                                                  -------------    -------------   ------------- 
Expenses:                                                                                        
  Mortality and expense risk                              7,018           11,309           1,713 
  Administrative fee                                      2,500            4,205             580 
                                                  -------------    -------------   ------------- 
    Total expenses                                        9,518           15,514           2,293 
                                                  -------------    -------------   ------------- 
    Net investment income (loss)                          2,214           (3,691)         (2,228)
                                                  -------------    -------------   ------------- 
Net realized gain (loss) on investments:                                                         
  Realized gain (loss) on sale of fund shares        (2,170,223)               -      (3,519,195)
  Realized gain distributions                             2,707                -               - 
                                                  -------------    -------------   ------------- 
    Net realized gain (loss)                         (2,167,516)               -      (3,519,195)
                                                  -------------    -------------   ------------- 
Change in unrealized appreciation (depreciation)      2,421,369                -       3,562,040 
                                                  -------------    -------------   ------------- 
    Net increase (decrease) in net assets from                                                   
     operations                                         256,067           (3,691)         40,617 
                                                  =============    =============   ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Operations                                                         
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                    American                                  
                                                  --------------------------------------------                
                                                      Global                                                  
                                                      Small                        Growth &                   
                                                  Capitalization      Growth        Income                    
                                                     Fund (a)        Fund (a)      Fund (a)         Total     
                                                  --------------  -------------  -------------  ------------- 
                                                                                                              
Income:                                                                                                       
  Dividends                                       $          481          6,302         35,149     38,450,726 
                                                  --------------  -------------  -------------  ------------- 
Expenses:                                                                                                     
  Mortality and expense risk                               4,422         27,701         17,718     53,637,376 
  Administrative fee                                           -              -              -     10,011,927 
                                                  --------------  -------------  -------------  ------------- 
    Total expenses                                         4,422         27,701         17,718     63,649,303 
                                                  --------------  -------------  -------------  ------------- 
    Net investment income (loss)                          (3,941)       (21,399)        17,431    (25,198,577)
                                                  --------------  -------------  -------------  ------------- 
Net realized gain (loss) on investments:                                                                      
  Realized gain (loss) on sale of fund shares              6,885            662          3,541    (65,091,559)
  Realized gain distributions                                  -              -              -     11,564,446 
                                                  --------------  -------------  -------------  ------------- 
    Net realized gain (loss)                               6,885            662          3,541    (53,527,113)
                                                  --------------  -------------  -------------  ------------- 
Change in unrealized appreciation (depreciation)         134,325        611,512        404,263  1,004,499,912 
                                                  --------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                                
     operations                                   $      137,269        590,775        425,235    925,774,222 
                                                  ==============  =============  =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                 Met Investors      
                                                    ----------------------------------------------------------------
                                                      Lord Abbett    Lord Abbett      Lord Abbett      Lord Abbett  
                                                       Growth &       Growth &           Bond             Bond      
                                                        Income         Income          Debenture        Debenture   
                                                       Portfolio     Portfolio B       Portfolio       Portfolio B  
                                                    --------------  -------------    -------------    ------------- 
                                                                                                                    
Increase (decrease) in net assets from operations:                                                                  
  Net investment income (loss)                      $     (474,865)    (3,201,017)          10,546        3,066,501 
  Net realized gain (loss)                             (10,538,981)        (8,478)          19,636        1,053,682 
  Change in unrealized appreciation (depreciation)      79,535,337    103,296,681           38,036       38,206,055 
                                                    --------------  -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                                      
     operations                                         68,521,491    100,087,186           68,218       42,326,238 
                                                    --------------  -------------    -------------    ------------- 
Contract transactions:                                                                                              
  MetLife Investors USA Insurance Company payments               -              -                -                - 
  MetLife Investors USA Insurance Company                                                                           
   redemptions                                                   -           (322)               -             (532)
  Payments received from contract owners                19,613,525    260,422,193           17,695      222,862,988 
  Transfers between sub-accounts (including fixed                                                                   
   account), net                                        (7,550,610)   122,241,842          802,554      117,771,785 
  Transfers for contract benefits and terminations     (39,311,746)   (15,117,838)               -      (13,141,993)
                                                    --------------  -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                                      
     contract transactions                             (27,248,831)   367,545,875          820,249      327,492,248 
                                                    --------------  -------------    -------------    ------------- 
    Net increase (decrease) in net assets               41,272,660    467,633,061          888,467      369,818,486 
Net assets at beginning of period                      256,901,296    158,468,844          108,777      115,255,304 
                                                    --------------  -------------    -------------    ------------- 
Net assets at end of period                         $  298,173,956    626,101,905          997,244      485,073,790 
                                                    ==============  =============    =============    ============= 
                                                        [Enlarge/Download Table]


                                                    ---------------------------------------         
                                                      JP Morgan          Met/             Met/      
                                                       Quality          Putnam           Putnam     
                                                        Bond           Research         Research    
                                                      Portfolio        Portfolio       Portfolio B  
                                                    -------------    -------------    ------------- 
                                                                                                    
Increase (decrease) in net assets from operations:                                                  
  Net investment income (loss)                            857,371         (266,293)        (758,948)
  Net realized gain (loss)                                419,961         (453,002)        (107,147)
  Change in unrealized appreciation (depreciation)       (402,827)       5,364,572       11,223,620 
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     operations                                           874,505        4,645,277       10,357,525 
                                                    -------------    -------------    ------------- 
Contract transactions:                                                                              
  MetLife Investors USA Insurance Company payments              -                -                - 
  MetLife Investors USA Insurance Company                                                           
   redemptions                                                  -                -             (281)
  Payments received from contract owners                4,009,305           85,903       25,640,188 
  Transfers between sub-accounts (including fixed                                                   
   account), net                                       (3,343,771)          73,360        7,933,788 
  Transfers for contract benefits and terminations     (6,610,028)      (5,048,268)      (2,509,954)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     contract transactions                             (5,944,494)      (4,889,005)      31,063,741 
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets              (5,069,989)        (243,728)      41,421,266 
Net assets at beginning of period                      38,254,147       23,034,334       27,062,105 
                                                    -------------    -------------    ------------- 
Net assets at end of period                            33,184,158       22,790,606       68,483,371 
                                                    =============    =============    ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                  Met Investors      
                                                    -----------------------------------------------------------------
                                                     Oppenheimer           PIMCO          PIMCO          Janus       
                                                       Capital           Inflation        Money       Aggressive     
                                                     Appreciation     Protected Bond     Market         Growth       
                                                     Portfolio B      Portfolio B (a)  Portfolio B    Portfolio B    
                                                    --------------    --------------- -------------  -------------   
                                                                                                                     
Increase (decrease) in net assets from operations:                                                                   
  Net investment income (loss)                      $   (3,613,406)       (1,059,216)    (1,646,089)    (1,513,553)  
  Net realized gain (loss)                                    (573)        5,184,054              -         29,372   
  Change in unrealized appreciation (depreciation)      60,680,428         2,075,094              -     26,337,281   
                                                    --------------     -------------  -------------  -------------   
    Net increase (decrease) in net assets from                                                                       
     operations                                         57,066,449         6,199,932     (1,646,089)    24,853,100   
                                                    --------------     -------------  -------------  -------------   
Contract transactions:                                                                                               
  MetLife Investors USA Insurance Company payments               -                 7              -              -   
  MetLife Investors USA Insurance Company                                                                            
   redemptions                                                (198)                -           (194)          (419)  
  Payments received from contract owners               188,753,265       121,735,770    133,547,824     86,760,521   
  Transfers between sub-accounts (including fixed                                                                    
   account), net                                        71,858,634       144,006,005    (85,041,381)    31,646,467   
  Transfers for contract benefits and terminations      (8,041,312)       (4,147,107)   (20,037,004)    (3,243,271)  
                                                    --------------     -------------  -------------  -------------   
    Net increase (decrease) in net assets from                                                                       
     contract transactions                             252,570,389       261,594,675     28,469,245    115,163,298   
                                                    --------------     -------------  -------------  -------------   
    Net increase (decrease) in net assets              309,636,838       267,794,607     26,823,156    140,016,398   
Net assets at beginning of period                       97,837,161                 -     90,464,302     36,902,162   
                                                    --------------     -------------  -------------  -------------   
Net assets at end of period                         $  407,473,999       267,794,607    117,287,458    176,918,560   
                                                    ==============     =============  =============  =============   
                                                        [Enlarge/Download Table]


                                                    ----------------------------------------      
                                                        PIMCO          PIMCO                      
                                                     Total Return   Total Return        PIMCO     
                                                         Bond           Bond         Innovation   
                                                      Portfolio     Portfolio B     Portfolio (a) 
                                                    -------------  -------------    ------------- 
                                                                                                  
Increase (decrease) in net assets from operations:                                                
  Net investment income (loss)                            (54,141)    (1,006,816)          (2,818)
  Net realized gain (loss)                                906,702      8,137,247            4,056 
  Change in unrealized appreciation (depreciation)        (88,845)     2,138,500           55,774 
                                                    -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                    
     operations                                           763,716      9,268,931           57,012 
                                                    -------------  -------------    ------------- 
Contract transactions:                                                                            
  MetLife Investors USA Insurance Company payments              -              -                - 
  MetLife Investors USA Insurance Company                                                         
   redemptions                                                  -           (320)               - 
  Payments received from contract owners                  555,459    239,018,306           49,510 
  Transfers between sub-accounts (including fixed                                                 
   account), net                                        1,553,618     11,715,817          550,134 
  Transfers for contract benefits and terminations     (5,672,669)   (18,322,754)         (10,369)
                                                    -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                    
     contract transactions                             (3,563,592)   232,411,049          589,275 
                                                    -------------  -------------    ------------- 
    Net increase (decrease) in net assets              (2,799,876)   241,679,980          646,287 
Net assets at beginning of period                      25,486,564    238,270,817                - 
                                                    -------------  -------------    ------------- 
Net assets at end of period                            22,686,688    479,950,797          646,287 
                                                    =============  =============    ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                  Met Investors                    
                                                    -------------------------------------------------------------------------------
                                                                     T Rowe Price       MFS              AIM            AIM        
                                                         PIMCO         Mid Cap       Research         Small Cap      Small Cap     
                                                      Innovation        Growth     International       Growth         Growth       
                                                      Portfolio B    Portfolio B    Portfolio B     Portfolio (a)   Portfolio B    
                                                    --------------  -------------  -------------    -------------  -------------   
                                                                                                                                   
Increase (decrease) in net assets from operations:                                                                                 
  Net investment income (loss)                      $     (373,721)    (1,743,087)      (551,158)          (1,804)    (1,255,575)  
  Net realized gain (loss)                                (189,629)       (17,543)       201,866           13,265        219,596   
  Change in unrealized appreciation (depreciation)       9,550,569     34,788,215     24,339,743           22,604     25,849,273   
                                                    --------------  -------------  -------------    -------------  -------------   
    Net increase (decrease) in net assets from                                                                                     
     operations                                          8,987,219     33,027,585     23,990,451           34,065     24,813,294   
                                                    --------------  -------------  -------------    -------------  -------------   
Contract transactions:                                                                                                             
  MetLife Investors USA Insurance Company payments               -              -              -                -              -   
  MetLife Investors USA Insurance Company                                                                                          
   redemptions                                                (478)          (262)          (296)               -         (1,257)  
  Payments received from contract owners                14,451,983     97,011,990     55,324,638           30,350     72,425,989   
  Transfers between sub-accounts (including fixed                                                                                  
   account), net                                         9,838,258     34,773,115     (1,039,158)         310,138     15,214,670   
  Transfers for contract benefits and terminations      (1,454,941)    (3,774,959)    (3,173,276)          (6,004)    (2,833,669)  
                                                    --------------  -------------  -------------    -------------  -------------   
    Net increase (decrease) in net assets from                                                                                     
     contract transactions                              22,834,822    128,009,884     51,111,908          334,484     84,805,733   
                                                    --------------  -------------  -------------    -------------  -------------   
    Net increase (decrease) in net assets               31,822,041    161,037,469     75,102,359          368,549    109,619,027   
Net assets at beginning of period                       10,195,680     42,934,975     46,398,334                -     34,329,159   
                                                    --------------  -------------  -------------    -------------  -------------   
Net assets at end of period                         $   42,017,721    203,972,444    121,500,693          368,549    143,948,186   
                                                    ==============  =============  =============    =============  =============   
                                                                [Download Table]


                                                    -------------------------    
                                                         AIM          Harris     
                                                       Mid Cap        Oakmark    
                                                     Core Equity   International 
                                                     Portfolio B    Portfolio B  
                                                    -------------  ------------- 
                                                                                 
Increase (decrease) in net assets from operations:                               
  Net investment income (loss)                            (69,549)       213,986 
  Net realized gain (loss)                                (10,930)       439,496 
  Change in unrealized appreciation (depreciation)     18,668,662     32,012,248 
                                                    -------------  ------------- 
    Net increase (decrease) in net assets from                                   
     operations                                        18,588,183     32,665,730 
                                                    -------------  ------------- 
Contract transactions:                                                           
  MetLife Investors USA Insurance Company payments              -              - 
  MetLife Investors USA Insurance Company                                        
   redemptions                                             (1,284)        (1,543)
  Payments received from contract owners               61,585,611     94,371,544 
  Transfers between sub-accounts (including fixed                                
   account), net                                       46,007,619     60,043,174 
  Transfers for contract benefits and terminations     (2,495,851)    (2,343,006)
                                                    -------------  ------------- 
    Net increase (decrease) in net assets from                                   
     contract transactions                            105,096,095    152,070,169 
                                                    -------------  ------------- 
    Net increase (decrease) in net assets             123,684,278    184,735,899 
Net assets at beginning of period                      23,276,982     12,688,775 
                                                    -------------  ------------- 
Net assets at end of period                           146,961,260    197,424,674 
                                                    =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                            Met Investors                            
                                                    -----------------------------    ----------------
                                                     Third Avenue      Third Avenue                  
                                                       Small Cap        Small Cap       Premier      
                                                         Value            Value         Equity       
                                                     Portfolio (a)     Portfolio B       Fund        
                                                    --------------    -------------  -------------   
                                                                                                     
Increase (decrease) in net assets from operations:                                                   
  Net investment income (loss)                      $         (329)      (1,176,239)       (15,415)  
  Net realized gain (loss)                                   5,828        1,322,991        (95,670)  
  Change in unrealized appreciation (depreciation)          61,093       38,801,843        405,709   
                                                    --------------    -------------  -------------   
    Net increase (decrease) in net assets from                                                       
     operations                                             66,592       38,948,595        294,624   
                                                    --------------    -------------  -------------   
Contract transactions:                                                                               
  MetLife Investors USA Insurance Company payments               -                -              -   
  MetLife Investors USA Insurance Company                                                            
   redemptions                                                   -           (1,570)             -   
  Payments received from contract owners                    51,071      107,259,101         (2,966)  
  Transfers between sub-accounts (including fixed                                                    
   account), net                                           461,106       54,904,636        (36,874)  
  Transfers for contract benefits and terminations          (1,690)      (3,056,301)       (82,055)  
                                                    --------------    -------------  -------------   
    Net increase (decrease) in net assets from                                                       
     contract transactions                                 510,487      159,105,866       (121,895)  
                                                    --------------    -------------  -------------   
    Net increase (decrease) in net assets                  577,079      198,054,461        172,729   
Net assets at beginning of period                                -       25,528,634      1,358,722   
                                                    --------------    -------------  -------------   
Net assets at end of period                         $      577,079      223,583,095      1,531,451   
                                                    ==============    =============  =============   
                                                        [Enlarge/Download Table]

                                                                AIM                                   MFS      
                                                    ------------------------------------------   ------------- 

                                                       Capital     International                               
                                                     Appreciation     Growth         Balanced       Research   
                                                         Fund          Fund            Fund          Series    
                                                    -------------  -------------  -------------  ------------- 
                                                                                                               
Increase (decrease) in net assets from operations:                                                             
  Net investment income (loss)                            (10,187)        (4,924)         6,135         (2,578)
  Net realized gain (loss)                                (72,431)       (44,012)       (55,483)       (32,903)
  Change in unrealized appreciation (depreciation)        258,319        191,317        199,770        108,011 
                                                    -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                                 
     operations                                           175,701        142,381        150,422         72,530 
                                                    -------------  -------------  -------------  ------------- 
Contract transactions:                                                                                         
  MetLife Investors USA Insurance Company payments              -              -              -              - 
  MetLife Investors USA Insurance Company                                                                      
   redemptions                                                  -              -              -              - 
  Payments received from contract owners                    3,595          4,025          3,150         (9,701)
  Transfers between sub-accounts (including fixed                                                              
   account), net                                          (21,836)        (2,530)           366         (6,399)
  Transfers for contract benefits and terminations        (70,493)       (37,820)      (133,539)       (40,242)
                                                    -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                                 
     contract transactions                                (88,734)       (36,325)      (130,023)       (56,342)
                                                    -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets                  86,967        106,056         20,399         16,188 
Net assets at beginning of period                         713,339        556,574      1,152,340        359,720 
                                                    -------------  -------------  -------------  ------------- 
Net assets at end of period                               800,306        662,630      1,172,739        375,908 
                                                    =============  =============  =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                 MFS                                                 Op
                                                    -----------------------------     ---------------------------------
                                                                                       Main Street                     
                                                       Investors           New          Growth &                       
                                                         Trust          Discovery        Income             Bond       
                                                        Series           Series           Fund              Fund       
                                                    --------------    -------------   -------------    -------------   
                                                                                                                       
Increase (decrease) in net assets from operations:                                                                     
  Net investment income (loss)                      $       (1,331)          (4,566)         (6,634)          17,704   
  Net realized gain (loss)                                  (7,103)         (38,979)        (63,615)             517   
  Change in unrealized appreciation (depreciation)          42,890          130,599         406,032            3,878   
                                                    --------------    -------------   -------------    -------------   
    Net increase (decrease) in net assets from                                                                         
     operations                                             34,456           87,054         335,783           22,099   
                                                    --------------    -------------   -------------    -------------   
Contract transactions:                                                                                                 
  MetLife Investors USA Insurance Company payments               -                -               -                -   
  MetLife Investors USA Insurance Company                                                                              
   redemptions                                                   -                -               -                -   
  Payments received from contract owners                         -           (9,656)          1,824            6,300   
  Transfers between sub-accounts (including fixed                                                                      
   account), net                                             4,912          (18,786)        (15,669)          18,825   
  Transfers for contract benefits and terminations         (16,768)         (49,805)       (111,339)         (23,961)  
                                                    --------------    -------------   -------------    -------------   
    Net increase (decrease) in net assets from                                                                         
     contract transactions                                 (11,856)         (78,247)       (125,184)           1,164   
                                                    --------------    -------------   -------------    -------------   
    Net increase (decrease) in net assets                   22,600            8,807         210,599           23,263   
Net assets at beginning of period                          176,867          340,233       1,485,237          419,872   
                                                    --------------    -------------   -------------    -------------   
Net assets at end of period                         $      199,467          349,040       1,695,836          443,135   
                                                    ==============    =============   =============    =============   
                                                        [Enlarge/Download Table]

                                                    penheimer                                       
                                                    ----------------------------------------        
                                                                      Main Street                   
                                                                         Small          Strategic   
                                                        Money             Cap             Bond      
                                                        Fund          Growth Fund         Fund      
                                                    -------------    -------------    ------------- 
                                                                                                    
Increase (decrease) in net assets from operations:                                                  
  Net investment income (loss)                             (3,294)          (1,989)          12,599 
  Net realized gain (loss)                                      -           (2,047)             141 
  Change in unrealized appreciation (depreciation)              -           54,353           24,587 
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     operations                                            (3,294)          50,317           37,327 
                                                    -------------    -------------    ------------- 
Contract transactions:                                                                              
  MetLife Investors USA Insurance Company payments              -                -                - 
  MetLife Investors USA Insurance Company                                                           
   redemptions                                                  -                -                - 
  Payments received from contract owners                        -              240              166 
  Transfers between sub-accounts (including fixed                                                   
   account), net                                         (348,854)          16,829              490 
  Transfers for contract benefits and terminations        (16,881)          (8,502)         (34,103)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     contract transactions                               (365,735)           8,567          (33,447)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets                (369,029)          58,884            3,880 
Net assets at beginning of period                         910,119          123,379          248,099 
                                                    -------------    -------------    ------------- 
Net assets at end of period                               541,090          182,263          251,979 
                                                    =============    =============    ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                    Fidelity        
                                                    ----------------------------------------------------------------

                                                         Asset                                                      
                                                        Manager          Growth        Contrafund     Overseas      
                                                       Portfolio        Portfolio      Portfolio      Portfolio     
                                                    --------------    -------------  -------------  -------------   
                                                                                                                    
Increase (decrease) in net assets from operations:                                                                  
  Net investment income (loss)                      $    3,588,750       (2,630,329)    (1,995,730)       (44,835)  
  Net realized gain (loss)                              (4,651,518)     (16,397,960)    (1,627,928)    (1,261,416)  
  Change in unrealized appreciation (depreciation)      25,905,819       83,691,437     56,105,559      5,096,073   
                                                    --------------    -------------  -------------  -------------   
    Net increase (decrease) in net assets from                                                                      
     operations                                         24,843,051       64,663,148     52,481,901      3,789,822   
                                                    --------------    -------------  -------------  -------------   
Contract transactions:                                                                                              
  MetLife Investors USA Insurance Company payments               -                -              -              -   
  MetLife Investors USA Insurance Company                                                                           
   redemptions                                                   -                -              -              -   
  Payments received from contract owners                11,059,497       22,745,698     20,674,012        217,854   
  Transfers between sub-accounts (including fixed                                                                   
   account), net                                        (4,610,577)      (8,545,847)    (5,253,201)        86,744   
  Transfers for contract benefits and terminations     (20,510,654)     (32,090,528)   (19,249,685)    (2,034,089)  
                                                    --------------    -------------  -------------  -------------   
    Net increase (decrease) in net assets from                                                                      
     contract transactions                             (14,061,734)     (17,890,677)    (3,828,874)    (1,729,491)  
                                                    --------------    -------------  -------------  -------------   
    Net increase (decrease) in net assets               10,781,317       46,772,471     48,653,027      2,060,331   
Net assets at beginning of period                      162,779,061      222,487,040    200,852,938     10,274,025   
                                                    --------------    -------------  -------------  -------------   
Net assets at end of period                         $  173,560,378      269,259,511    249,505,965     12,334,356   
                                                    ==============    =============  =============  =============   
                                                        [Enlarge/Download Table]


                                                    ----------------------------------------      

                                                       Equity-           Index          Money     
                                                       Income             500          Market     
                                                      Portfolio        Portfolio      Portfolio   
                                                    -------------    -------------  ------------- 
                                                                                                  
Increase (decrease) in net assets from operations:                                                
  Net investment income (loss)                            108,001          526,462        (68,021)
  Net realized gain (loss)                               (807,406)     (14,361,585)             - 
  Change in unrealized appreciation (depreciation)      6,483,503       57,042,919              - 
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                    
     operations                                         5,784,098       43,207,796        (68,021)
                                                    -------------    -------------  ------------- 
Contract transactions:                                                                            
  MetLife Investors USA Insurance Company payments              -                -              - 
  MetLife Investors USA Insurance Company                                                         
   redemptions                                                  -                -              - 
  Payments received from contract owners                   80,351       15,170,894      6,932,123 
  Transfers between sub-accounts (including fixed                                                 
   account), net                                         (403,381)     (72,470,331)    (5,357,390)
  Transfers for contract benefits and terminations     (2,820,510)     (23,222,948)    (5,746,401)
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                    
     contract transactions                             (3,143,540)     (80,522,385)    (4,171,668)
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets               2,640,558      (37,314,589)    (4,239,689)
Net assets at beginning of period                      22,635,288      202,226,966     30,912,721 
                                                    -------------    -------------  ------------- 
Net assets at end of period                            25,275,846      164,912,377     26,673,032 
                                                    =============    =============  ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                       Scudder I                                             MetLife           
                                                    --------------  -----------------------------------------------------------
                                                                        Davis          Davis          Harris         Harris    
                                                                       Venture        Venture        Oakmark        Oakmark    
                                                     International      Value          Value         Focused        Focused    
                                                       Portfolio       Fund (a)       Fund E      Value Fund (a)  Value Fund B 
                                                    --------------  -------------  -------------  -------------- ------------- 
                                                                                                                               
Increase (decrease) in net assets from operations:                                                                             
  Net investment income (loss)                      $     (110,898)        (3,388)    (3,313,010)       (11,975)    (3,660,215)
  Net realized gain (loss)                              (1,728,672)           264       (102,267)           556         (5,872)
  Change in unrealized appreciation (depreciation)       6,214,219         88,012     74,510,314        355,482     74,648,276 
                                                    --------------  -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                                                 
     operations                                          4,374,649         84,888     71,095,037        344,063     70,982,189 
                                                    --------------  -------------  -------------  -------------  ------------- 
Contract transactions:                                                                                                         
  MetLife Investors USA Insurance Company payments               -              -              -              -              - 
  MetLife Investors USA Insurance Company                                                                                      
   redemptions                                                   -              -            (42)             -            (52)
  Payments received from contract owners                 2,912,417         82,244    187,975,968        565,168    167,425,874 
  Transfers between sub-accounts (including fixed                                                                              
   account), net                                        (1,001,568)       626,320     45,469,829      2,768,656     67,493,776 
  Transfers for contract benefits and terminations      (1,032,892)       (11,121)   (11,408,815)       (35,531)    (9,899,063)
                                                    --------------  -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                                                 
     contract transactions                                 877,957        697,443    222,036,940      3,298,293    225,020,535 
                                                    --------------  -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets                5,252,606        782,331    293,131,977      3,642,356    296,002,724 
Net assets at beginning of period                       16,026,962              -    128,844,921              -    113,939,326 
                                                    --------------  -------------  -------------  -------------  ------------- 
Net assets at end of period                         $   21,279,568        782,331    421,976,898      3,642,356    409,942,050 
                                                    ==============  =============  =============  =============  ============= 
                                                                [Download Table]


                                                    -----------------------------
                                                                        MFS      
                                                      Jennison         Total     
                                                       Growth          Return    
                                                     Portfolio B     Series (a)  
                                                    -------------  ------------- 
                                                                                 
Increase (decrease) in net assets from operations:                               
  Net investment income (loss)                         (1,442,467)        (2,927)
  Net realized gain (loss)                              1,849,073            774 
  Change in unrealized appreciation (depreciation)     25,140,667         46,065 
                                                    -------------  ------------- 
    Net increase (decrease) in net assets from                                   
     operations                                        25,547,273         43,912 
                                                    -------------  ------------- 
Contract transactions:                                                           
  MetLife Investors USA Insurance Company payments              -              - 
  MetLife Investors USA Insurance Company                                        
   redemptions                                                (47)             - 
  Payments received from contract owners              115,370,120        120,657 
  Transfers between sub-accounts (including fixed                                
   account), net                                        4,486,868        614,370 
  Transfers for contract benefits and terminations     (3,407,507)       (12,985)
                                                    -------------  ------------- 
    Net increase (decrease) in net assets from                                   
     contract transactions                            116,449,434        722,042 
                                                    -------------  ------------- 
    Net increase (decrease) in net assets             141,996,707        765,954 
Net assets at beginning of period                      42,025,982              - 
                                                    -------------  ------------- 
Net assets at end of period                           184,022,689        765,954 
                                                    =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                     MetLife          
                                                    ------------------------------------------------------------------
                                                        Putnam                            Russell           Met/      
                                                     International        Janus            2000            Putnam     
                                                         Stock           Mid Cap           Index           Voyager    
                                                       Portfolio        Portfolio        Portfolio       Portfolio A  
                                                    --------------    -------------    -------------    ------------- 
                                                                                                                      
Increase (decrease) in net assets from operations:                                                                    
  Net investment income (loss)                      $       (2,528)         (10,832)          (9,094)          (4,887)
  Net realized gain (loss)                                 (23,229)        (119,488)          10,428          (40,469)
  Change in unrealized appreciation (depreciation)         106,170          347,581          341,057          119,930 
                                                    --------------    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                                        
     operations                                             80,413          217,261          342,391           74,574 
                                                    --------------    -------------    -------------    ------------- 
Contract transactions:                                                                                                
  MetLife Investors USA Insurance Company payments               -                -                -                - 
  MetLife Investors USA Insurance Company                                                                             
   redemptions                                                   -                -                -                - 
  Payments received from contract owners                         -            5,687          174,766              885 
  Transfers between sub-accounts (including fixed                                                                     
   account), net                                            29,057           65,277        1,563,207           44,506 
  Transfers for contract benefits and terminations         (21,045)         (83,195)        (231,104)         (27,282)
                                                    --------------    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                                        
     contract transactions                                   8,012          (12,231)       1,506,869           18,109 
                                                    --------------    -------------    -------------    ------------- 
    Net increase (decrease) in net assets                   88,425          205,030        1,849,260           92,683 
Net assets at beginning of period                          276,753          703,693          378,497          326,304 
                                                    --------------    -------------    -------------    ------------- 
Net assets at end of period                         $      365,178          908,723        2,227,757          418,987 
                                                    ==============    =============    =============    ============= 
                                                        [Enlarge/Download Table]


                                                    --------------------------------------        
                                                                                         SSR      
                                                         SSR              SSR         Large Cap   
                                                       Aurora         Bond Income       Value     
                                                    Portfolio (a)    Portfolio (a)  Portfolio (a) 
                                                    -------------    -------------  ------------- 
                                                                                                  
Increase (decrease) in net assets from operations:                                                
  Net investment income (loss)                             (9,354)          (2,565)           630 
  Net realized gain (loss)                                  3,784              108           (106)
  Change in unrealized appreciation (depreciation)        348,713           12,545         20,377 
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                    
     operations                                           343,143           10,088         20,901 
                                                    -------------    -------------  ------------- 
Contract transactions:                                                                            
  MetLife Investors USA Insurance Company payments              -                -              - 
  MetLife Investors USA Insurance Company                                                         
   redemptions                                                  -                -              - 
  Payments received from contract owners                  269,110           88,642         23,374 
  Transfers between sub-accounts (including fixed                                                 
   account), net                                        2,174,389          572,884        169,762 
  Transfers for contract benefits and terminations        (34,948)         (14,063)        (1,890)
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                    
     contract transactions                              2,408,551          647,463        191,246 
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets               2,751,694          657,551        212,147 
Net assets at beginning of period                               -                -              - 
                                                    -------------    -------------  ------------- 
Net assets at end of period                             2,751,694          657,551        212,147 
                                                    =============    =============  ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                                                      MetLife         
                                                    ------------------------------------------------------------------
                                                                                                          Lehman      
                                                         Stock          Stock            Alger           Brothers     
                                                         Index          Index            Equity         Aggregate     
                                                     Portfolio (a)   Portfolio B       Growth (a)     Bond Index (a)  
                                                    --------------  -------------    -------------    --------------  
                                                                                                                      
Increase (decrease) in net assets from operations:                                                                    
  Net investment income (loss)                      $     (350,476)      (310,441)            (975)          (3,040)  
  Net realized gain (loss)                                 106,930        193,706              340           (1,569)  
  Change in unrealized appreciation (depreciation)       7,763,978     21,269,435           20,041            8,123   
                                                    --------------  -------------    -------------    -------------   
    Net increase (decrease) in net assets from                                                                        
     operations                                          7,520,432     21,152,700           19,406            3,514   
                                                    --------------  -------------    -------------    -------------   
Contract transactions:                                                                                                
  MetLife Investors USA Insurance Company payments               -              -                -                -   
  MetLife Investors USA Insurance Company                                                                             
   redemptions                                                   -           (879)               -                -   
  Payments received from contract owners                 2,270,143     52,379,728           18,900          146,341   
  Transfers between sub-accounts (including fixed                                                                     
   account), net                                        62,008,296     24,073,826          166,404          572,888   
  Transfers for contract benefits and terminations      (2,204,024)    (3,214,862)            (159)         (20,801)  
                                                    --------------  -------------    -------------    -------------   
    Net increase (decrease) in net assets from                                                                        
     contract transactions                              62,074,415     73,237,813          185,145          698,428   
                                                    --------------  -------------    -------------    -------------   
    Net increase (decrease) in net assets               69,594,847     94,390,513          204,551          701,942   
Net assets at beginning of period                                -     41,490,056                -                -   
                                                    --------------  -------------    -------------    -------------   
Net assets at end of period                         $   69,594,847    135,880,569          204,551          701,942   
                                                    ==============  =============    =============    =============   
                                                        [Enlarge/Download Table]


                                                    -----------------------------------------        

                                                                      Harris Oakmark   Morgan Stanley
                                                       FI Mid Cap       Large Cap           EAFE     
                                                    Opportunities (a)   Value (a)        Index (a)   
                                                    ----------------- --------------   --------------
                                                                                                     
Increase (decrease) in net assets from operations:                                                   
  Net investment income (loss)                               (3,090)         (5,942)          (5,931)
  Net realized gain (loss)                                   14,088             316           74,614 
  Change in unrealized appreciation (depreciation)           88,530         129,746           96,659 
                                                      -------------   -------------    ------------- 
    Net increase (decrease) in net assets from                                                       
     operations                                              99,528         124,120          165,342 
                                                      -------------   -------------    ------------- 
Contract transactions:                                                                               
  MetLife Investors USA Insurance Company payments                -               -                - 
  MetLife Investors USA Insurance Company                                                            
   redemptions                                                    -               -                - 
  Payments received from contract owners                     98,391         248,630          130,969 
  Transfers between sub-accounts (including fixed                                                    
   account), net                                            632,576       1,378,139          795,880 
  Transfers for contract benefits and terminations          (11,961)         (1,648)         (23,548)
                                                      -------------   -------------    ------------- 
    Net increase (decrease) in net assets from                                                       
     contract transactions                                  719,006       1,625,121          903,301 
                                                      -------------   -------------    ------------- 
    Net increase (decrease) in net assets                   818,534       1,749,241        1,068,643 
Net assets at beginning of period                                 -               -                - 
                                                      -------------   -------------    ------------- 
Net assets at end of period                                 818,534       1,749,241        1,068,643 
                                                      =============   =============    ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                        MetLife                       Van Kampen                   
                                                    --------------   -------------------------------------------   

                                                          Mid           Emerging                        Growth &   
                                                       Cap Stock         Growth       Enterprise         Income    
                                                       Index (a)          Fund           Fund             Fund     
                                                    --------------   -------------  -------------    ------------- 
                                                                                                                   
Increase (decrease) in net assets from operations:                                                                 
  Net investment income (loss)                      $       (5,905)         (6,845)        (1,399)          (1,432)
  Net realized gain (loss)                                   5,458         (62,002)        (7,910)            (566)
  Change in unrealized appreciation (depreciation)         144,303         179,009         43,499           67,709 
                                                    --------------   -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                                     
     operations                                            143,856         110,162         34,190           65,711 
                                                    --------------   -------------  -------------    ------------- 
Contract transactions:                                                                                             
  MetLife Investors USA Insurance Company payments               -               -              -                - 
  MetLife Investors USA Insurance Company                                                                          
   redemptions                                                   -               -              -                - 
  Payments received from contract owners                   185,742             405         (9,701)               - 
  Transfers between sub-accounts (including fixed                                                                  
   account), net                                         1,176,097          17,750         (8,142)          35,761 
  Transfers for contract benefits and terminations         (21,596)        (57,744)        (1,784)          (6,985)
                                                    --------------   -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                                     
     contract transactions                               1,340,243         (39,589)       (19,627)          28,776 
                                                    --------------   -------------  -------------    ------------- 
    Net increase (decrease) in net assets                1,484,099          70,573         14,563           94,487 
Net assets at beginning of period                                -         458,846        155,300          220,658 
                                                    --------------   -------------  -------------    ------------- 
Net assets at end of period                         $    1,484,099         529,419        169,863          315,145 
                                                    ==============   =============  =============    ============= 
                                                        [Enlarge/Download Table]

                                                                     Federated                      
                                                    -------------------------------------------     

                                                       American          High            Growth     
                                                       Leaders        Income Bond       Strategic   
                                                       Fund II          Fund II          Fund II    
                                                    -------------    -------------    ------------- 
                                                                                                    
Increase (decrease) in net assets from operations:                                                  
  Net investment income (loss)                              1,685           15,835           (2,548)
  Net realized gain (loss)                                (24,215)          (3,235)         (16,005)
  Change in unrealized appreciation (depreciation)        158,025           34,423           77,183 
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     operations                                           135,495           47,023           58,630 
                                                    -------------    -------------    ------------- 
Contract transactions:                                                                              
  MetLife Investors USA Insurance Company payments              -                -                - 
  MetLife Investors USA Insurance Company                                                           
   redemptions                                                  -                -                - 
  Payments received from contract owners                    6,180                -              690 
  Transfers between sub-accounts (including fixed                                                   
   account), net                                          (37,951)           1,712           (7,677)
  Transfers for contract benefits and terminations        (49,996)         (30,074)          (7,662)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     contract transactions                                (81,767)         (28,362)         (14,649)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets                  53,728           18,661           43,981 
Net assets at beginning of period                         593,612          244,101          158,130 
                                                    -------------    -------------    ------------- 
Net assets at end of period                               647,340          262,762          202,111 
                                                    =============    =============    ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                       Federated       Neuberger         Alger                       
                                                    --------------   -------------   --------------  ----------------

                                                        Equity                           Small                       
                                                        Income          Genesis      Capitalization      Growth      
                                                        Fund II          Trust            Fund            Fund       
                                                    --------------   -------------   --------------  -------------   
                                                                                                                     
Increase (decrease) in net assets from operations:                                                                   
  Net investment income (loss)                      $        1,618          (1,434)       (701,164)        (71,567)  
  Net realized gain (loss)                                 (17,041)        156,873      (5,252,739)     (9,975,488)  
  Change in unrealized appreciation (depreciation)          83,956        (160,697)     23,298,902      13,059,440   
                                                    --------------   -------------   -------------   -------------   
    Net increase (decrease) in net assets from                                                                       
     operations                                             68,533          (5,258)     17,344,999       3,012,385   
                                                    --------------   -------------   -------------   -------------   
Contract transactions:                                                                                               
  MetLife Investors USA Insurance Company payments               -               -               -               -   
  MetLife Investors USA Insurance Company                                                                            
   redemptions                                                   -               -               -               -   
  Payments received from contract owners                       629           3,656       5,741,989         441,349   
  Transfers between sub-accounts (including fixed                                                                    
   account), net                                            (5,346)          3,457      (2,327,509)       (218,637)  
  Transfers for contract benefits and terminations         (28,557)     (3,176,724)     (3,893,264)    (20,566,154)  
                                                    --------------   -------------   -------------   -------------   
    Net increase (decrease) in net assets from                                                                       
     contract transactions                                 (33,274)     (3,169,611)       (478,784)    (20,343,442)  
                                                    --------------   -------------   -------------   -------------   
    Net increase (decrease) in net assets                   35,259      (3,174,869)     16,866,215     (17,331,057)  
Net assets at beginning of period                          300,784       3,192,787      42,603,692      27,968,736   
                                                    --------------   -------------   -------------   -------------   
Net assets at end of period                         $      336,043          17,918      59,469,907      10,637,679   
                                                    ==============   =============   =============   =============   
                                                        [Enlarge/Download Table]

                                                       T Rowe                           Janus     
                                                    ---------------------------     ------------- 

                                                                         Prime          Aspen     
                                                    International       Reserve       Worldwide   
                                                     Stock Fund          Fund          Growth     
                                                    -------------    -------------  ------------- 
                                                                                                  
Increase (decrease) in net assets from operations:                                                
  Net investment income (loss)                              2,214           (3,691)        (2,228)
  Net realized gain (loss)                             (2,167,516)               -     (3,519,195)
  Change in unrealized appreciation (depreciation)      2,421,369                -      3,562,040 
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                    
     operations                                           256,067           (3,691)        40,617 
                                                    -------------    -------------  ------------- 
Contract transactions:                                                                            
  MetLife Investors USA Insurance Company payments              -                -              - 
  MetLife Investors USA Insurance Company                                                         
   redemptions                                                  -                -              - 
  Payments received from contract owners                   76,061          (13,752)         7,003 
  Transfers between sub-accounts (including fixed                                                 
   account), net                                          (39,262)         (83,983)       (22,741)
  Transfers for contract benefits and terminations     (3,610,120)        (300,571)    (5,187,724)
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                    
     contract transactions                             (3,573,321)        (398,306)    (5,203,462)
                                                    -------------    -------------  ------------- 
    Net increase (decrease) in net assets              (3,317,254)        (401,997)    (5,162,845)
Net assets at beginning of period                       4,374,990        1,838,862      5,172,450 
                                                    -------------    -------------  ------------- 
Net assets at end of period                             1,057,736        1,436,865          9,605 
                                                    =============    =============  ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2003                                                    

                                                        [Enlarge/Download Table]

                                                                      American                                   
                                                    --------------------------------------------                 
                                                        Global                                                   
                                                        Small                         Growth &                   
                                                    Capitalization      Growth         Income                    
                                                       Fund (a)        Fund (a)       Fund (a)         Total     
                                                    --------------  -------------  -------------   ------------- 
                                                                                                                 
Increase (decrease) in net assets from operations:                                                               
  Net investment income (loss)                      $       (3,941)       (21,399)        17,431     (25,198,577)
  Net realized gain (loss)                                   6,885            662          3,541     (53,527,113)
  Change in unrealized appreciation (depreciation)         134,325        611,512        404,263   1,004,499,912 
                                                    --------------  -------------  -------------   ------------- 
    Net increase (decrease) in net assets from                                                                   
     operations                                            137,269        590,775        425,235     925,774,222 
                                                    --------------  -------------  -------------   ------------- 
Contract transactions:                                                                                           
  MetLife Investors USA Insurance Company payments               -              -              -               7 
  MetLife Investors USA Insurance Company                                                                        
   redemptions                                                   -              -              -          (9,976)
  Payments received from contract owners                   130,939        720,748        538,731   2,420,600,818 
  Transfers between sub-accounts (including fixed                                                                
   account), net                                         1,012,398      5,681,430      3,962,633     761,613,623 
  Transfers for contract benefits and terminations            (890)       (22,327)       (56,047)   (335,370,996)
                                                    --------------  -------------  -------------   ------------- 
    Net increase (decrease) in net assets from                                                                   
     contract transactions                               1,142,447      6,379,851      4,445,317   2,846,833,476 
                                                    --------------  -------------  -------------   ------------- 
    Net increase (decrease) in net assets                1,279,716      6,970,626      4,870,552   3,772,607,698 
Net assets at beginning of period                                -              -              -   2,594,706,334 
                                                    --------------  -------------  -------------   ------------- 
Net assets at end of period                         $    1,279,716      6,970,626      4,870,552   6,367,314,032 
                                                    ==============  =============  =============   ============= 

(a) For the period from May 1, 2003 to December 31, 2003.                       

See accompanying notes to financial statements.                                 

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                                                                  Met Investors     
                                                    ----------------------------------------------------------------
                                                      Lord Abbett    Lord Abbett      Lord Abbett      Lord Abbett  
                                                       Growth &       Growth &           Bond             Bond      
                                                        Income         Income          Debenture        Debenture   
                                                       Portfolio     Portfolio B     Portfolio (b)     Portfolio B  
                                                    --------------  -------------    -------------    ------------- 
                                                                                                                    
Increase (decrease) in net assets from operations:                                                                  
  Net investment income (loss)                      $   (1,138,649)       111,314             (977)       1,578,316 
  Net realized gain (loss)                              15,626,004     11,124,550             (896)        (773,645)
  Change in unrealized appreciation (depreciation)     (77,572,328)   (28,389,839)             102        1,257,236 
                                                    --------------  -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                                      
     operations                                        (63,084,973)   (17,153,975)          (1,771)       2,061,907 
                                                    --------------  -------------    -------------    ------------- 
Contract transactions:                                                                                              
  MetLife Investors USA Insurance Company payments               -              -                -                - 
  MetLife Investors USA Insurance Company                                                                           
   redemptions                                                   -           (374)               -             (293)
  Payments received from contract owners                25,971,706     91,817,429            1,230       59,833,185 
  Transfers between sub-accounts (including fixed                                                                   
   account), net                                        (8,150,338)    52,906,691          115,317       41,955,527 
  Transfers for contract benefits and terminations     (23,488,798)    (3,378,135)          (5,999)      (1,840,756)
                                                    --------------  -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                                      
     contract transactions                              (5,667,430)   141,345,611          110,548       99,947,663 
                                                    --------------  -------------    -------------    ------------- 
    Net increase (decrease) in net assets              (68,752,403)   124,191,636          108,777      102,009,570 
Net assets at beginning of period                      325,653,699     34,277,208                -       13,245,734 
                                                    --------------  -------------    -------------    ------------- 
Net assets at end of period                         $  256,901,296    158,468,844          108,777      115,255,304 
                                                    ==============  =============    =============    ============= 
                                                        [Enlarge/Download Table]


                                                    ----------------------------------------      
                                                      JP Morgan        Met/             Met/      
                                                       Quality        Putnam           Putnam     
                                                        Bond         Research         Research    
                                                      Portfolio      Portfolio       Portfolio B  
                                                    -------------  -------------    ------------- 
                                                                                                  
Increase (decrease) in net assets from operations:                                                
  Net investment income (loss)                          1,270,331       (234,889)        (165,090)
  Net realized gain (loss)                                 73,635       (670,404)        (234,087)
  Change in unrealized appreciation (depreciation)      1,086,975     (6,476,873)      (3,299,270)
                                                    -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                    
     operations                                         2,430,941     (7,382,166)      (3,698,447)
                                                    -------------  -------------    ------------- 
Contract transactions:                                                                            
  MetLife Investors USA Insurance Company payments              -              -                - 
  MetLife Investors USA Insurance Company                                                         
   redemptions                                                  -              -              (81)
  Payments received from contract owners                4,016,933        105,010       12,665,806 
  Transfers between sub-accounts (including fixed                                                 
   account), net                                        6,899,181       (577,919)       9,445,184 
  Transfers for contract benefits and terminations     (3,071,140)    (4,612,308)        (590,039)
                                                    -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                    
     contract transactions                              7,844,974     (5,085,217)      21,520,870 
                                                    -------------  -------------    ------------- 
    Net increase (decrease) in net assets              10,275,915    (12,467,383)      17,822,423 
Net assets at beginning of period                      27,978,232     35,501,717        9,239,682 
                                                    -------------  -------------    ------------- 
Net assets at end of period                            38,254,147     23,034,334       27,062,105 
                                                    =============  =============    ============= 

(b) For the period from April 26, 2002 to December 31, 2002.                    

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                                                                  Met Investors       
                                                    ------------------------------------------------------------------
                                                     Oppenheimer          PIMCO            Janus          PIMCO       
                                                       Capital            Money         Aggressive     Total Return   
                                                     Appreciation        Market           Growth           Bond       
                                                     Portfolio B       Portfolio B      Portfolio B     Portfolio     
                                                    --------------    -------------    -------------  -------------   
                                                                                                                      
Increase (decrease) in net assets from operations:                                                                    
  Net investment income (loss)                      $     (850,938)        (341,003)        (333,800)      (345,747)  
  Net realized gain (loss)                                (149,511)               -         (119,094)       179,184   
  Change in unrealized appreciation (depreciation)     (11,600,543)               -       (6,107,360)     2,227,788   
                                                    --------------    -------------    -------------  -------------   
    Net increase (decrease) in net assets from                                                                        
     operations                                        (12,600,992)        (341,003)      (6,560,254)     2,061,225   
                                                    --------------    -------------    -------------  -------------   
Contract transactions:                                                                                                
  MetLife Investors USA Insurance Company payments               -              100                -              -   
  MetLife Investors USA Insurance Company                                                                             
   redemptions                                                 (84)            (200)               -              -   
  Payments received from contract owners                58,590,707       89,900,591       23,942,950        145,191   
  Transfers between sub-accounts (including fixed                                                                     
   account), net                                        31,825,076      (12,384,178)       9,850,187        151,886   
  Transfers for contract benefits and terminations      (1,723,549)      (7,391,851)        (599,007)    (5,060,861)  
                                                    --------------    -------------    -------------  -------------   
    Net increase (decrease) in net assets from                                                                        
     contract transactions                              88,692,150       70,124,462       33,194,130     (4,763,784)  
                                                    --------------    -------------    -------------  -------------   
    Net increase (decrease) in net assets               76,091,158       69,783,459       26,633,876     (2,702,559)  
Net assets at beginning of period                       21,746,003       20,680,843       10,268,286     28,189,123   
                                                    --------------    -------------    -------------  -------------   
Net assets at end of period                         $   97,837,161       90,464,302       36,902,162     25,486,564   
                                                    ==============    =============    =============  =============   
                                                        [Enlarge/Download Table]


                                                    --------------------------------------          
                                                        PIMCO                          T Rowe Price 
                                                     Total Return        PIMCO           Mid Cap    
                                                         Bond         Innovation          Growth    
                                                     Portfolio B      Portfolio B      Portfolio B  
                                                    -------------    -------------    ------------- 
                                                                                                    
Increase (decrease) in net assets from operations:                                                  
  Net investment income (loss)                         (1,720,899)        (123,809)        (407,716)
  Net realized gain (loss)                                 46,268         (201,351)          27,331 
  Change in unrealized appreciation (depreciation)     10,076,696       (4,813,192)     (11,731,559)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     operations                                         8,402,065       (5,138,352)     (12,111,944)
                                                    -------------    -------------    ------------- 
Contract transactions:                                                                              
  MetLife Investors USA Insurance Company payments              -                -                - 
  MetLife Investors USA Insurance Company                                                           
   redemptions                                               (103)               -             (144)
  Payments received from contract owners              122,406,152        5,973,353       27,351,253 
  Transfers between sub-accounts (including fixed                                                   
   account), net                                       85,492,935        5,114,891       14,641,601 
  Transfers for contract benefits and terminations     (3,532,621)        (128,982)        (659,896)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     contract transactions                            204,366,363       10,959,262       41,332,814 
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets             212,768,428        5,820,910       29,220,870 
Net assets at beginning of period                      25,502,389        4,374,770       13,714,105 
                                                    -------------    -------------    ------------- 
Net assets at end of period                           238,270,817       10,195,680       42,934,975 
                                                    =============    =============    ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                                                   Met Investors                    
                                                    ----------------------------------------------------------------
                                                          MFS            AIM            AIM            Harris       
                                                       Research       Small Cap       Mid Cap          Oakmark      
                                                     International     Growth       Core Equity     International   
                                                      Portfolio B    Portfolio B    Portfolio B      Portfolio B    
                                                    --------------  -------------  -------------    -------------   
                                                                                                                    
Increase (decrease) in net assets from operations:                                                                  
  Net investment income (loss)                      $     (298,125)      (236,084)      (188,931)         (64,652)  
  Net realized gain (loss)                                (510,120)       (81,381)      (130,466)         (35,949)  
  Change in unrealized appreciation (depreciation)      (1,617,055)    (3,280,761)    (1,443,650)        (601,328)  
                                                    --------------  -------------  -------------    -------------   
    Net increase (decrease) in net assets from                                                                      
     operations                                         (2,425,300)    (3,598,226)    (1,763,047)        (701,929)  
                                                    --------------  -------------  -------------    -------------   
Contract transactions:                                                                                              
  MetLife Investors USA Insurance Company payments               -              -              -                -   
  MetLife Investors USA Insurance Company                                                                           
   redemptions                                                (166)          (428)          (433)               -   
  Payments received from contract owners                29,812,221     25,237,357     15,589,943        9,759,385   
  Transfers between sub-accounts (including fixed                                                                   
   account), net                                        12,032,231     11,546,362      8,839,084        3,511,599   
  Transfers for contract benefits and terminations        (687,778)      (268,708)      (398,760)         (99,011)  
                                                    --------------  -------------  -------------    -------------   
    Net increase (decrease) in net assets from                                                                      
     contract transactions                              41,156,508     36,514,583     24,029,834       13,171,973   
                                                    --------------  -------------  -------------    -------------   
    Net increase (decrease) in net assets               38,731,208     32,916,357     22,266,787       12,470,044   
Net assets at beginning of period                        7,667,126      1,412,802      1,010,195          218,731   
                                                    --------------  -------------  -------------    -------------   
Net assets at end of period                         $   46,398,334     34,329,159     23,276,982       12,688,775   
                                                    ==============  =============  =============    =============   
                                                        [Enlarge/Download Table]

                                                                                 AIM               
                                                    -----------     ----------------------------   
                                                     Third Avenue                                  
                                                       Small Cap       Premier          Capital    
                                                         Value         Equity         Appreciation 
                                                    Portfolio B (c)     Fund              Fund     
                                                    --------------- -------------    ------------- 
                                                                                                   
Increase (decrease) in net assets from operations:                                                 
  Net investment income (loss)                             (56,207)       (19,514)         (12,521)
  Net realized gain (loss)                                  30,890       (425,721)        (278,584)
  Change in unrealized appreciation (depreciation)          66,218       (229,205)          35,711 
                                                     -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                     
     operations                                             40,901       (674,440)        (255,394)
                                                     -------------  -------------    ------------- 
Contract transactions:                                                                             
  MetLife Investors USA Insurance Company payments           1,500              -                - 
  MetLife Investors USA Insurance Company                                                          
   redemptions                                                   -              -                - 
  Payments received from contract owners                15,248,088          8,310              260 
  Transfers between sub-accounts (including fixed                                                  
   account), net                                        10,381,518        (67,187)          13,898 
  Transfers for contract benefits and terminations        (143,373)      (207,697)        (108,752)
                                                     -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                     
     contract transactions                              25,487,733       (266,574)         (94,594)
                                                     -------------  -------------    ------------- 
    Net increase (decrease) in net assets               25,528,634       (941,014)        (349,988)
Net assets at beginning of period                                -      2,299,736        1,063,327 
                                                     -------------  -------------    ------------- 
Net assets at end of period                             25,528,634      1,358,722          713,339 
                                                     =============  =============    ============= 

(c) For the period from May 1, 2002 to December 31, 2002.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                                 AIM                                     MFS        
                                                    -----------------------------    -------------------------------

                                                     International                                      Investors   
                                                        Growth           Balanced       Research          Trust     
                                                         Fund              Fund          Series          Series     
                                                    --------------    -------------  -------------    ------------- 
                                                                                                                    
Increase (decrease) in net assets from operations:                                                                  
  Net investment income (loss)                      $       (5,895)          12,198         (5,109)          (1,858)
  Net realized gain (loss)                                (139,519)        (145,764)      (130,736)         (30,552)
  Change in unrealized appreciation (depreciation)          29,252         (146,217)           760          (22,271)
                                                    --------------    -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                                      
     operations                                           (116,162)        (279,783)      (135,085)         (54,681)
                                                    --------------    -------------  -------------    ------------- 
Contract transactions:                                                                                              
  MetLife Investors USA Insurance Company payments               -                -              -                - 
  MetLife Investors USA Insurance Company                                                                           
   redemptions                                                   -                -              -                - 
  Payments received from contract owners                       740              200          9,861                - 
  Transfers between sub-accounts (including fixed                                                                   
   account), net                                           (12,152)          (6,839)        (9,513)           1,359 
  Transfers for contract benefits and terminations         (66,339)        (140,825)       (40,290)         (24,241)
                                                    --------------    -------------  -------------    ------------- 
    Net increase (decrease) in net assets from                                                                      
     contract transactions                                 (77,751)        (147,464)       (39,942)         (22,882)
                                                    --------------    -------------  -------------    ------------- 
    Net increase (decrease) in net assets                 (193,913)        (427,247)      (175,027)         (77,563)
Net assets at beginning of period                          750,487        1,579,587        534,747          254,430 
                                                    --------------    -------------  -------------    ------------- 
Net assets at end of period                         $      556,574        1,152,340        359,720          176,867 
                                                    ==============    =============  =============    ============= 
                                                        [Enlarge/Download Table]

                                                                            Oppenheimer         
                                                    ------------   ---------------------------- 
                                                                    Main Street                 
                                                         New         Growth &                   
                                                      Discovery       Income           Bond     
                                                       Series          Fund            Fund     
                                                    -------------  -------------  ------------- 
                                                                                                
Increase (decrease) in net assets from operations:                                              
  Net investment income (loss)                             (6,509)       (11,925)        23,378 
  Net realized gain (loss)                                (94,147)      (228,579)        (5,566)
  Change in unrealized appreciation (depreciation)        (86,158)      (176,542)        10,343 
                                                    -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                  
     operations                                          (186,814)      (417,046)        28,155 
                                                    -------------  -------------  ------------- 
Contract transactions:                                                                          
  MetLife Investors USA Insurance Company payments              -              -              - 
  MetLife Investors USA Insurance Company                                                       
   redemptions                                                  -              -              - 
  Payments received from contract owners                   12,659          2,601          1,103 
  Transfers between sub-accounts (including fixed                                               
   account), net                                          (73,381)      (218,399)       111,827 
  Transfers for contract benefits and terminations        (17,837)      (230,459)       (92,902)
                                                    -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                  
     contract transactions                                (78,559)      (446,257)        20,028 
                                                    -------------  -------------  ------------- 
    Net increase (decrease) in net assets                (265,373)      (863,303)        48,183 
Net assets at beginning of period                         605,606      2,348,540        371,689 
                                                    -------------  -------------  ------------- 
Net assets at end of period                               340,233      1,485,237        419,872 
                                                    =============  =============  ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                                     Oppenheimer                                  
                                                    --------------------------------------------    --------------
                                                                     Main Street                                  
                                                                        Small          Strategic        Asset     
                                                         Money           Cap             Bond          Manager    
                                                         Fund        Growth Fund         Fund         Portfolio   
                                                    --------------  -------------    -------------  ------------- 
                                                                                                                  
Increase (decrease) in net assets from operations:                                                                
  Net investment income (loss)                      $          193         (2,100)          21,920      4,605,137 
  Net realized gain (loss)                                       -         (1,967)          (5,014)    (3,833,433)
  Change in unrealized appreciation (depreciation)               -        (22,202)             285    (19,943,022)
                                                    --------------  -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                                    
     operations                                                193        (26,269)          17,191    (19,171,318)
                                                    --------------  -------------    -------------  ------------- 
Contract transactions:                                                                                            
  MetLife Investors USA Insurance Company payments               -              -                -              - 
  MetLife Investors USA Insurance Company                                                                         
   redemptions                                                   -              -                -              - 
  Payments received from contract owners                   (22,830)           240                -     14,348,141 
  Transfers between sub-accounts (including fixed                                                                 
   account), net                                           123,973         (3,838)         (73,887)    (6,809,387)
  Transfers for contract benefits and terminations         (83,312)        (6,813)         (19,145)   (15,375,384)
                                                    --------------  -------------    -------------  ------------- 
    Net increase (decrease) in net assets from                                                                    
     contract transactions                                  17,831        (10,411)         (93,032)    (7,836,630)
                                                    --------------  -------------    -------------  ------------- 
    Net increase (decrease) in net assets                   18,024        (36,680)         (75,841)   (27,007,948)
Net assets at beginning of period                          892,095        160,059          323,940    189,787,009 
                                                    --------------  -------------    -------------  ------------- 
Net assets at end of period                         $      910,119        123,379          248,099    162,779,061 
                                                    ==============  =============    =============  ============= 
                                                        [Enlarge/Download Table]

                                                               Fidelity                         
                                                    --------------------------------------------

                                                       Growth        Contrafund     Overseas    
                                                      Portfolio      Portfolio      Portfolio   
                                                    -------------  -------------  ------------- 
                                                                                                
Increase (decrease) in net assets from operations:                                              
  Net investment income (loss)                         (2,872,160)    (1,151,462)       (58,165)
  Net realized gain (loss)                             (8,434,983)    (1,424,664)    (1,395,556)
  Change in unrealized appreciation (depreciation)    (91,373,406)   (21,506,132)    (1,608,623)
                                                    -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                  
     operations                                      (102,680,549)   (24,082,258)    (3,062,344)
                                                    -------------  -------------  ------------- 
Contract transactions:                                                                          
  MetLife Investors USA Insurance Company payments              -              -              - 
  MetLife Investors USA Insurance Company                                                       
   redemptions                                                  -              -              - 
  Payments received from contract owners               32,539,185     26,210,040        255,900 
  Transfers between sub-accounts (including fixed                                               
   account), net                                      (11,860,922)    (6,113,610)      (454,718)
  Transfers for contract benefits and terminations    (22,778,587)   (14,796,387)    (1,663,976)
                                                    -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                  
     contract transactions                             (2,100,324)     5,300,043     (1,862,794)
                                                    -------------  -------------  ------------- 
    Net increase (decrease) in net assets            (104,780,873)   (18,782,215)    (4,925,138)
Net assets at beginning of period                     327,267,913    219,635,153     15,199,163 
                                                    -------------  -------------  ------------- 
Net assets at end of period                           222,487,040    200,852,938     10,274,025 
                                                    =============  =============  ============= 

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                                      Fidelity                        Scudder I                  
                                                    --------------------------------------------    -------------  --------------
                                                                                                                       Davis     
                                                        Equity-                          Money                        Venture    
                                                        Income          Index 500       Market      International      Value     
                                                       Portfolio        Portfolio      Portfolio      Portfolio       Fund E     
                                                    --------------    -------------  -------------  -------------  ------------- 
                                                                                                                                 
Increase (decrease) in net assets from operations:                                                                               
  Net investment income (loss)                      $      123,246          (60,161)       114,274        (89,593)      (682,137)
  Net realized gain (loss)                                (467,205)      (2,601,002)             -     (2,171,519)       (79,480)
  Change in unrealized appreciation (depreciation)      (5,448,571)     (59,492,684)             -     (1,387,554)   (10,644,714)
                                                    --------------    -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                                                   
     operations                                         (5,792,530)     (62,153,847)       114,274     (3,648,666)   (11,406,331)
                                                    --------------    -------------  -------------  -------------  ------------- 
Contract transactions:                                                                                                           
  MetLife Investors USA Insurance Company payments               -                -              -              -              - 
  MetLife Investors USA Insurance Company                                                                                        
   redemptions                                                   -                -              -              -           (252)
  Payments received from contract owners                   139,571       32,701,709      3,458,477      3,614,551     73,472,705 
  Transfers between sub-accounts (including fixed                                                                                
   account), net                                        (1,628,784)     (10,730,284)    (1,597,458)       (29,908)    42,451,975 
  Transfers for contract benefits and terminations      (2,943,318)     (15,391,836)    (5,582,028)    (1,047,538)    (2,520,827)
                                                    --------------    -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets from                                                                                   
     contract transactions                              (4,432,531)       6,579,589     (3,721,009)     2,537,105    113,403,601 
                                                    --------------    -------------  -------------  -------------  ------------- 
    Net increase (decrease) in net assets              (10,225,061)     (55,574,258)    (3,606,735)    (1,111,561)   101,997,270 
Net assets at beginning of period                       32,860,349      257,801,224     34,519,456     17,138,523     26,847,651 
                                                    --------------    -------------  -------------  -------------  ------------- 
Net assets at end of period                         $   22,635,288      202,226,966     30,912,721     16,026,962    128,844,921 
                                                    ==============    =============  =============  =============  ============= 
                                                                [Download Table]

                                                         MetLife                    
                                                    ------------------------------  
                                                        Harris                      
                                                       Oakmark          Jennison    
                                                       Focused           Growth     
                                                     Value Fund B    Portfolio B (c)
                                                    -------------    ---------------
                                                                                    
Increase (decrease) in net assets from operations:                                  
  Net investment income (loss)                           (953,356)         (156,833)
  Net realized gain (loss)                               (207,588)           (8,105)
  Change in unrealized appreciation (depreciation)     (5,211,041)       (2,035,146)
                                                    -------------     ------------- 
    Net increase (decrease) in net assets from                                      
     operations                                        (6,371,985)       (2,200,084)
                                                    -------------     ------------- 
Contract transactions:                                                              
  MetLife Investors USA Insurance Company payments              -             1,500 
  MetLife Investors USA Insurance Company                                           
   redemptions                                               (276)           (1,190)
  Payments received from contract owners               58,011,135        31,241,035 
  Transfers between sub-accounts (including fixed                                   
   account), net                                       42,103,479        13,161,775 
  Transfers for contract benefits and terminations     (2,025,627)         (177,054)
                                                    -------------     ------------- 
    Net increase (decrease) in net assets from                                      
     contract transactions                             98,088,711        44,226,066 
                                                    -------------     ------------- 
    Net increase (decrease) in net assets              91,716,726        42,025,982 
Net assets at beginning of period                      22,222,600                 - 
                                                    -------------     ------------- 
Net assets at end of period                           113,939,326        42,025,982 
                                                    =============     ============= 

(c) For the period from May 1, 2002 to December 31, 2002.                       

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                                                             MetLife                  
                                                    ------------------------------------------------------------------
                                                        Putnam                            Russell           Met/      
                                                     International        Janus            2000            Putnam     
                                                         Stock           Mid Cap           Index           Voyager    
                                                       Portfolio        Portfolio        Portfolio       Portfolio A  
                                                    --------------    -------------    -------------    ------------- 
                                                                                                                      
Increase (decrease) in net assets from operations:                                                                    
  Net investment income (loss)                      $       (1,740)         (12,502)          (4,074)          (5,997)
  Net realized gain (loss)                                 (16,231)        (254,537)         (32,735)         (61,371)
  Change in unrealized appreciation (depreciation)         (45,681)         (71,946)         (91,061)         (87,937)
                                                    --------------    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                                        
     operations                                            (63,652)        (338,985)        (127,870)        (155,305)
                                                    --------------    -------------    -------------    ------------- 
Contract transactions:                                                                                                
  MetLife Investors USA Insurance Company payments               -                -                -                - 
  MetLife Investors USA Insurance Company                                                                             
   redemptions                                                   -                -                -                - 
  Payments received from contract owners                         -           35,471            6,652            7,997 
  Transfers between sub-accounts (including fixed                                                                     
   account), net                                            27,139           43,394          130,182           36,091 
  Transfers for contract benefits and terminations         (15,391)         (72,147)         (38,685)         (23,014)
                                                    --------------    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                                        
     contract transactions                                  11,748            6,718           98,149           21,074 
                                                    --------------    -------------    -------------    ------------- 
    Net increase (decrease) in net assets                  (51,904)        (332,267)         (29,721)        (134,231)
Net assets at beginning of period                          328,657        1,035,960          408,218          460,535 
                                                    --------------    -------------    -------------    ------------- 
Net assets at end of period                         $      276,753          703,693          378,497          326,304 
                                                    ==============    =============    =============    ============= 
                                                        [Enlarge/Download Table]

                                                                                       Van Kampen  
                                                    -----------------------          ------------- 
                                                        Loomis                                     
                                                        Sayles           Stock          Emerging   
                                                      High Yield         Index           Growth    
                                                       Bond (d)       Portfolio B         Fund     
                                                    -------------    -------------   ------------- 
                                                                                                   
Increase (decrease) in net assets from operations:                                                 
  Net investment income (loss)                              9,332         (249,848)         (6,607)
  Net realized gain (loss)                                   (508)      (1,214,414)       (366,637)
  Change in unrealized appreciation (depreciation)          8,635       (4,231,246)        119,225 
                                                    -------------    -------------   ------------- 
    Net increase (decrease) in net assets from                                                     
     operations                                            17,459       (5,695,508)       (254,019)
                                                    -------------    -------------   ------------- 
Contract transactions:                                                                             
  MetLife Investors USA Insurance Company payments              -                -               - 
  MetLife Investors USA Insurance Company                                                          
   redemptions                                                  -             (511)              - 
  Payments received from contract owners                      378       24,510,041           5,649 
  Transfers between sub-accounts (including fixed                                                  
   account), net                                          (84,444)      21,034,980         (17,241)
  Transfers for contract benefits and terminations        (17,077)        (163,796)       (117,619)
                                                    -------------    -------------   ------------- 
    Net increase (decrease) in net assets from                                                     
     contract transactions                               (101,143)      45,380,714        (129,211)
                                                    -------------    -------------   ------------- 
    Net increase (decrease) in net assets                 (83,684)      39,685,206        (383,230)
Net assets at beginning of period                          83,684        1,804,850         842,076 
                                                    -------------    -------------   ------------- 
Net assets at end of period                                     -       41,490,056         458,846 
                                                    =============    =============   ============= 

(d) For the period from January 1, 2002 to April 29, 2002.                      

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                                     Van Kampen                                  
                                                    --------------------------------------------   --------------

                                                                       Growth &                       American   
                                                      Enterprise        Income       Strategic        Leaders    
                                                         Fund          Fund (c)      Stock (e)        Fund II    
                                                    --------------  -------------  -------------   ------------- 
                                                                                                                 
Increase (decrease) in net assets from operations:                                                               
  Net investment income (loss)                      $       (1,913)        (2,262)         5,363          (1,235)
  Net realized gain (loss)                                 (82,135)         6,859         17,308        (137,726)
  Change in unrealized appreciation (depreciation)           9,598        (33,073)       (12,418)        (95,148)
                                                    --------------  -------------  -------------   ------------- 
    Net increase (decrease) in net assets from                                                                   
     operations                                            (74,450)       (28,476)        10,253        (234,109)
                                                    --------------  -------------  -------------   ------------- 
Contract transactions:                                                                                           
  MetLife Investors USA Insurance Company payments               -              -              -               - 
  MetLife Investors USA Insurance Company                                                                        
   redemptions                                                   -              -              -               - 
  Payments received from contract owners                     9,701          7,412              -             555 
  Transfers between sub-accounts (including fixed                                                                
   account), net                                           (17,369)       282,495       (278,619)       (113,675)
  Transfers for contract benefits and terminations         (29,156)       (40,773)       (16,884)       (220,922)
                                                    --------------  -------------  -------------   ------------- 
    Net increase (decrease) in net assets from                                                                   
     contract transactions                                 (36,824)       249,134       (295,503)       (334,042)
                                                    --------------  -------------  -------------   ------------- 
    Net increase (decrease) in net assets                 (111,274)       220,658       (285,250)       (568,151)
Net assets at beginning of period                          266,574              -        285,250       1,161,763 
                                                    --------------  -------------  -------------   ------------- 
Net assets at end of period                         $      155,300        220,658              -         593,612 
                                                    ==============  =============  =============   ============= 
                                                        [Enlarge/Download Table]

                                                               Federated                            
                                                    --------------------------------------------    

                                                        High            Growth           Equity     
                                                     Income Bond       Strategic         Income     
                                                       Fund II          Fund II          Fund II    
                                                    -------------    -------------    ------------- 
                                                                                                    
Increase (decrease) in net assets from operations:                                                  
  Net investment income (loss)                             23,480           (2,826)           2,837 
  Net realized gain (loss)                                (24,865)         (19,591)         (82,379)
  Change in unrealized appreciation (depreciation)          1,375          (40,427)         (24,522)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     operations                                               (10)         (62,844)        (104,064)
                                                    -------------    -------------    ------------- 
Contract transactions:                                                                              
  MetLife Investors USA Insurance Company payments              -                -                - 
  MetLife Investors USA Insurance Company                                                           
   redemptions                                                  -                -                - 
  Payments received from contract owners                    4,912              690              380 
  Transfers between sub-accounts (including fixed                                                   
   account), net                                             (300)             648          (11,774)
  Transfers for contract benefits and terminations        (31,993)         (15,437)         (73,820)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets from                                                      
     contract transactions                                (27,381)         (14,099)         (85,214)
                                                    -------------    -------------    ------------- 
    Net increase (decrease) in net assets                 (27,391)         (76,943)        (189,278)
Net assets at beginning of period                         271,492          235,073          490,062 
                                                    -------------    -------------    ------------- 
Net assets at end of period                               244,101          158,130          300,784 
                                                    =============    =============    ============= 

(c) For the period from May 1, 2002 to December 31, 2002.                       
(e) For the period from January 1, 2002 to May 1, 2002.                         

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                        [Enlarge/Download Table]

                                                              Neuberger                   Alger                       
                                                    -----------------------------     --------------  ----------------

                                                                                          Small                       
                                                        Genesis                       Capitalization      Growth      
                                                         Trust         Partners (e)        Fund            Fund       
                                                    --------------    -------------   --------------  -------------   
                                                                                                                      
Increase (decrease) in net assets from operations:                                                                    
  Net investment income (loss)                      $      (32,557)          (4,320)       (667,746)       (245,790)  
  Net realized gain (loss)                                  55,917         (187,558)     (3,434,135)     (2,686,483)  
  Change in unrealized appreciation (depreciation)        (224,296)         183,291     (11,676,385)     (6,737,895)  
                                                    --------------    -------------   -------------   -------------   
    Net increase (decrease) in net assets from                                                                        
     operations                                           (200,936)          (8,587)    (15,778,266)     (9,670,168)  
                                                    --------------    -------------   -------------   -------------   
Contract transactions:                                                                                                
  MetLife Investors USA Insurance Company payments               -                -               -               -   
  MetLife Investors USA Insurance Company                                                                             
   redemptions                                                   -                -               -               -   
  Payments received from contract owners                 1,078,133           82,942       7,610,984       2,213,367   
  Transfers between sub-accounts (including fixed                                                                     
   account), net                                            36,201       (1,247,168)     (1,879,659)       (570,412)  
  Transfers for contract benefits and terminations      (1,038,344)        (409,838)     (3,237,431)     (5,084,435)  
                                                    --------------    -------------   -------------   -------------   
    Net increase (decrease) in net assets from                                                                        
     contract transactions                                  75,990       (1,574,064)      2,493,894      (3,441,480)  
                                                    --------------    -------------   -------------   -------------   
    Net increase (decrease) in net assets                 (124,946)      (1,582,651)    (13,284,372)    (13,111,648)  
Net assets at beginning of period                        3,317,733        1,582,651      55,888,064      41,080,384   
                                                    --------------    -------------   -------------   -------------   
Net assets at end of period                         $    3,192,787                -      42,603,692      27,968,736   
                                                    ==============    =============   =============   =============   
                                                        [Enlarge/Download Table]

                                                       T Rowe                            Janus     
                                                    ---------------------------      ------------- 

                                                                         Prime           Aspen     
                                                    International       Reserve        Worldwide   
                                                     Stock Fund          Fund           Growth     
                                                    -------------    -------------   ------------- 
                                                                                                   
Increase (decrease) in net assets from operations:                                                 
  Net investment income (loss)                              8,379            7,152          (3,450)
  Net realized gain (loss)                               (314,464)               -      (1,253,444)
  Change in unrealized appreciation (depreciation)       (736,567)               -        (837,115)
                                                    -------------    -------------   ------------- 
    Net increase (decrease) in net assets from                                                     
     operations                                        (1,042,652)           7,152      (2,094,009)
                                                    -------------    -------------   ------------- 
Contract transactions:                                                                             
  MetLife Investors USA Insurance Company payments              -                -               - 
  MetLife Investors USA Insurance Company                                                          
   redemptions                                                  -                -               - 
  Payments received from contract owners                  440,676            1,053       1,851,311 
  Transfers between sub-accounts (including fixed                                                  
   account), net                                          (34,460)         450,046        (103,543)
  Transfers for contract benefits and terminations       (646,288)        (127,835)     (2,806,857)
                                                    -------------    -------------   ------------- 
    Net increase (decrease) in net assets from                                                     
     contract transactions                               (240,072)         323,264      (1,059,089)
                                                    -------------    -------------   ------------- 
    Net increase (decrease) in net assets              (1,282,724)         330,416      (3,153,098)
Net assets at beginning of period                       5,657,714        1,508,446       8,325,548 
                                                    -------------    -------------   ------------- 
Net assets at end of period                             4,374,990        1,838,862       5,172,450 
                                                    =============    =============   ============= 

(e) For the period from January 1, 2002 to May 1, 2002.                         

See accompanying notes to financial statements.                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Statement of Changes in Net Assets                                              
Year ended December 31, 2002                                                    

                                                                [Download Table]


                                                         Total     
                                                    -------------- 
                                                                   
Increase (decrease) in net assets from operations:                 
  Net investment income (loss)                      $   (5,922,831)
  Net realized gain (loss)                              (7,997,855)
  Change in unrealized appreciation (depreciation)    (386,099,473)
                                                    -------------- 
    Net increase (decrease) in net assets from                     
     operations                                       (400,020,159)
                                                    -------------- 
Contract transactions:                                             
  MetLife Investors USA Insurance Company payments           3,100 
  MetLife Investors USA Insurance Company                          
   redemptions                                              (4,535)
  Payments received from contract owners               932,242,387 
  Transfers between sub-accounts (including fixed                  
   account), net                                       359,557,366 
  Transfers for contract benefits and terminations    (157,250,488)
                                                    -------------- 
    Net increase (decrease) in net assets from                     
     contract transactions                           1,134,547,830 
                                                    -------------- 
    Net increase (decrease) in net assets              734,527,671 
Net assets at beginning of period                    1,860,178,663 
                                                    -------------- 
Net assets at end of period                         $2,594,706,334 
                                                    ============== 

See accompanying notes to financial statements.                                 

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(1) Organization                                                                
MetLife Investors USA Separate Account A (the Separate Account), a unit   
investment trust registered under the Investment Company Act of 1940 as   
  amended, was established by MetLife Investors USA Insurance Company (MLIUSA)
 and exists in accordance with the regulations of the Delaware Department of
Insurance. The Separate Account is a funding vehicle for variable annuity 
contracts issued by MLIUSA.                                               

The Separate Account is divided into sub-accounts with the assets of each 
  sub-account invested in corresponding portfolios of the following investment
companies which are diversified, open-end, management investment companies
registered under the Investment Company Act of 1940 as amended. The       
sub-accounts available for investment vary between variable annuity       
contracts offered for sale by MLIUSA.                                     

Under applicable insurance law, the assets and liabilities of the Separate
 Account are clearly identified and distinguished from MLIUSA's other assets
 and liabilities. The portion of the Separate Account's assets applicable to
  the variable contracts is not chargeable with liabilities arising out of any
other business MLIUSA may conduct.                                        

 The following sub-accounts were available for investment as of December 31,
2003:                                                                     

                                                                [Download Table]
                                                
Met Investors Series Trust (Met Investors):     
 Lord Abbett Growth & Income Portfolio          
 Lord Abbett Growth & Income Portfolio B        
 Lord Abbett Bond Debenture Portfolio           
 Lord Abbett Bond Debenture Portfolio B         
 JP Morgan Quality Bond Portfolio               
 Met/Putnam Research Portfolio                  
 Met/Putnam Research Portfolio B                
 Oppenheimer Capital Appreciation Portfolio B   
 PIMCO Inflation Protected Bond Portfolio B     
 PIMCO Money Market Portfolio B                 
 Janus Aggressive Growth Portfolio B            
 PIMCO Total Return Bond Portfolio              
 PIMCO Total Return Bond Portfolio B            
 PIMCO Innovation Portfolio                     
 PIMCO Innovation Portfolio B                   
 T Rowe Price Mid Cap Growth Portfolio B        
 MFS Research International Portfolio B         
 AIM Small Cap Growth Portfolio                 
 AIM Small Cap Growth Portfolio B               
 AIM Mid Cap Core Equity Portfolio B            
 Harris Oakmark International Portfolio B       
 Third Avenue Small Cap Value Portfolio         
 Third Avenue Small Cap Value Portfolio B       
AIM Variable Insurance Funds, Inc. (AIM):       
 Premier Equity Fund                            
 Capital Appreciation Fund                      
 International Growth Fund                      
 Balanced Fund                                  
MFS Variable Insurance Trust (MFS):             
 Research Series                                
 Investors Trust Series                         
 New Discovery Series                           
                                                                [Download Table]
                                                                  
Oppenheimer Variable Account Funds (Oppenheimer):                 
 Main Street Growth & Income Fund                                 
 Bond Fund                                                        
 Money Fund                                                       
 Main Street Small Cap Growth Fund                                
 Strategic Bond Fund                                              
Variable Insurance Products Fund, Fund II and Fund III (Fidelity):
 Asset Manager Portfolio                                          
 Growth Portfolio                                                 
 Contrafund Portfolio                                             
 Overseas Portfolio                                               
 Equity-Income Portfolio                                          
 Index 500 Portfolio                                              
 Money Market Portfolio                                           
Scudder Variable Series I (Scudder I):                            
 International Portfolio                                          
Metropolitan Life Series Funds (MetLife):                         
 Davis Venture Value Fund                                         
 Davis Venture Value Fund E                                       
 Harris Oakmark Focused Value Fund                                
 Harris Oakmark Focused Value Fund B                              
 Jennison Growth Portfolio B                                      
 MFS Total Return Series                                          
 Putnam International Stock Portfolio                             
 Janus Mid Cap Portfolio                                          
 Russell 2000 Index Portfolio                                     
 Met/Putnam Voyager Portfolio A                                   
 SSR Aurora Portfolio                                             
 SSR Bond Income Portfolio                                        
 SSR Large Cap Value Portfolio                                    
 Stock Index Portfolio                                            
 Stock Index Portfolio B                                          
 Alger Equity Growth                                              

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(1) Organization, continued:                                                    

Metropolitan Life Series Funds (MetLife), (continued):
Lehman Brothers Aggregate Bond Index                
FI Mid Cap Opportunities                            
Harris Oakmark Large Cap Value                      
Morgan Stanley EAFE Index                           
Mid Cap Stock Index                                 
VanKampen LIT Funds (VanKampen):                      
Emerging Growth Fund                                
Enterprise Fund                                     
Growth & Income Fund                                
Federated Investors Insurance Company (Federated):    
American Leaders Fund II                            
High Income Bond Fund II                            
Growth Strategic Fund II                            
Equity Income Fund II                               
Neuberger Berman (Neuberger Berman):
Genesis Trust                     
The Alger American Fund (Alger):    
Small Capitalization Fund         
T Rowe Price Funds (T Rowe):        
Growth Fund                       
International Stock Fund          
Prime Reserve Fund                
Janus Capital Funds Corp. (Janus):  
Aspen Worldwide Growth            
American Funds (American):          
Global Small Capitalization Fund  
Growth Fund                       
Growth & Income Fund              
During 2003, the following sub-accounts changed names:        
Met Investors Series Trust - MFS Mid Cap Growth Portfolio 
B to T Rowe Price Mid Cap Growth Portfolio B            
Met Investors Series Trust - SSR Concentrated             
International Portfolio B to Harris Oakmark             
International Portfolio B                               
MetLife Series - Putnam Large Cap Growth Portfolio to     
Met/Putnam Voyager Portfolio A                          

The following sub-accounts ceased operations during the years ended December  
31, 2003 and 2002:                                                        

Year ended December 31, 2003:                          Date Ceased Operations 
-----------------------------                          ---------------------- 
None.                                                                     

Year ended December 31, 2002:                                                 
-----------------------------                                                 
MetLife Loomis Sayles High Yield Bond                    April 26, 2002   
Van Kampen Strategic Stock                               May 1, 2002      
Neuberger Partners Trust                                 May 1, 2002      

The following sub-accounts began operations during the years ended December   
31, 2003 and 2002:                                                        

Year ended December 31, 2003:                           Date Began Operations 
-----------------------------                           --------------------- 
Met Investors PIMCO Inflation Protected Bond                              
Portfolio B                                               May 1, 2003   
Met Investors PIMCO Innovation Portfolio                   May 1, 2003    
Met Investors AIM Small Cap Growth Portfolio               May 1, 2003    
Met Investors Third Avenue Small Cap Value Portfolio       May 1, 2003    
MetLife Davis Venture Value Fund                           May 1, 2003    
MetLife Harris Oakmark Focused Value Fund                  May 1, 2003    
MetLife MFS Total Return Series                            May 1, 2003    
MetLife SSR Aurora Portfolio                               May 1, 2003    
MetLife SSR Bond Income Portfolio                          May 1, 2003    
MetLife SSR Large Cap Value Portfolio                      May 1, 2003    
MetLife Stock Index Portfolio                              May 1, 2003    
MetLife Alger Equity Growth                                May 1, 2003    

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(1) Organization, continued:                                                    

                                                                [Download Table]

Year ended December 31, 2003 continued:                 Date Began Operations
---------------------------------------                 ---------------------
                                                                             
 MetLife Lehman Brothers Aggregate Bond Index              May 1, 2003       
 MetLife FI Mid Cap Opportunities                          May 1, 2003       
 MetLife Harris Oakmark Large Cap Value                    May 1, 2003       
 MetLife Morgan Stanley EAFE Index                         May 1, 2003       
 MetLife Mid Cap Stock Index                               May 1, 2003       
 American Global Small Capitalization Fund                 May 1, 2003       
 American Growth Fund                                      May 1, 2003       
 American Growth & Income Fund                             May 1, 2003       

Year ended December 31, 2002:                                                
-----------------------------                                                
 Met Investors Lord Abbett Bond Debenture Portfolio        April 26, 2002    
 Met Investors Third Avenue Small Cap Value Portfolio B    May 1, 2002       
 MetLife Jennison Growth Portfolio B                       May 1, 2002       
 Van Kampen Growth & Income Fund                           May 1, 2002       

(2) Significant Accounting Policies                                             

(a) Investment Valuation                                                    
     Investments made in the portfolios of the investment companies are valued
at the reported net asset value of such portfolios. These investment
     companies value their investment securities at fair value. Realized gains
    and losses on the sale of portfolio shares owned by the sub-accounts are
computed on the basis of the identified cost of the portfolio shares
sold. Income from dividends and gains from realized capital gain    
distributions are recorded on the ex-distribution date.             

(b) Reinvestment of Distributions                                           
  Dividends and gains from realized gain distributions are reinvested in
additional shares of the portfolio.                                 

(c) Federal Income Taxes                                                    
     The operations of the Separate Account are included in the federal income
  tax return of MLI which is taxed as a Life Insurance Company under the
provisions of the Internal Revenue Code (IRC). Under current IRC    
    provisions, MLI believes it will be treated as the owner of the Separate
 Account assets for federal income tax purposes and does not expect to
     incur federal income taxes on the earnings of the Separate Account to the
     extent the earnings are credited to the variable annuity contracts. Based
on this, no charge has been made to the Separate Account for federal
 income taxes. A charge may be made in future years for federal income
taxes that would be attributable to the variable annuity contracts. 

(d) Estimates                                                               
     The preparation of the financial statements in accordance with accounting
  principles generally accepted in the United States of America requires
     management to make estimates and assumptions that affect amounts reported
therein. Actual results could differ from these estimates.          

(3) Separate Account Expenses                                                   
For variable annuity contracts, MLIUSA deducts a daily charge from the net
  assets of the Separate Account sub-accounts for mortality and administrative
expenses that ranges from an annual rate of 0.89% to an annual rate of    
2.25%. This varies according to the product specifications. The mortality 
risks assumed by MLIUSA arise from its contractual obligation to make     
  annuity payments after the annuity date for the life of the annuitant and to
waive the withdrawal fee in the event of the death of the contract owner. 
The administrative fees cover the cost of establishing and maintaining the
variable annuity contracts and the Separate Account.                      

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(4) Contract Fees                                                               
There are no deductions made from purchase payments for sales fees at the 
 time a variable annuity contract is purchased. However, if all or a portion
of the contract value is withdrawn, a withdrawal fee may be assessed and  
deducted from the contract value or payment to the contract owner. The    
 withdrawal fee is imposed on withdrawals of contract values attributable to
  purchase payments within seven years after receipt and is equal to 7% of the
  purchase payment withdrawn in the first and second years, 5% of the purchase
 payments withdrawn in the third, fourth and fifth years, 3% of the purchase
payments withdrawn in the sixth and seventh years, and 0% of the purchase 
payments withdrawn thereafter. After the first contract anniversary,      
 provided the contract value exceeds $5,000, the contract owner may make one
withdrawal each contract year of up to 10% of the aggregate purchase      
payments (on deposit for more than one year) without incurring a surrender
fee.                                                                      

For variable annuity contracts with a sales charge, MLIUSA deducts a sales
charge from the gross purchase payment before the payment is allocated to 
the Separate Account and / or a fixed account. The amount of the sales    
  charge depends on the contract owner's investment at the time of the payment
as follows:                                                               

                                                                [Download Table]

Owner's                Sales Charge as a % of
Investment             Gross Purchase Payment
----------             ----------------------
                                             
less than $50,000              6.00%         
$50,000 - $99,999.99           5.00%         
$100,000 - $249,999.99         4.00%         
$250,000 - $499,999.99         3.00%         
$500,000 - $999,999.99         2.00%         
$1,000,000 or more             1.00%         

Depending on the product, an annual contract maintenance fee of $0-49 is  
  imposed on variable annuity contracts with contract values less than $50,000
on their anniversary. This fee covers the cost of contract administration 
for the previous year and is prorated between the Separate Account        
sub-accounts and the fixed rate account to which the contract value is    
 allocated. Subject to certain restrictions, the contract owner may transfer
all or a part of the accumulated value of the contract among the available
sub-accounts and the fixed rate account. After 12 transfers are made in a 
contract year, MLIUSA may deduct a transfer fee of the lesser of $25 per  
additional transfer or 2% of the amount transferred. Transfers made in a  
dollar cost averaging program are not subject to the transfer fee.        

During the year ended December 31, 2003, contract maintenance, surrender, 
and transfer fees of $7,983,013 were deducted.                            

Currently, MLIUSA advances any premium taxes due at the time purchase     
payments are made and then deducts premium taxes at the time annuity      
payments begin. MLIUSA reserves the right to deduct premium taxes when    
incurred.                                                                 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(5) Cost Basis of Investments                                                   
The cost basis of each sub-account's investment as of December 31, 2003   
follows:                                                                  

                                                                [Download Table]
                                                                         
Met Investors Lord Abbett Growth & Income Portfolio        $  307,992,279
Met Investors Lord Abbett Growth & Income Portfolio B         550,017,771
Met Investors Lord Abbett Bond Debenture Portfolio                960,474
Met Investors Lord Abbett Bond Debenture Portfolio B          445,544,110
Met Investors JP Morgan Quality Bond Portfolio                 32,476,052
Met Investors Met/Putnam Research Portfolio                    21,538,397
Met Investors Met/Putnam Research Portfolio B                  60,485,920
Met Investors Oppenheimer Capital Appreciation Portfolio B    358,418,515
Met Investors PIMCO Inflation Protected Bond Portfolio B      265,719,523
Met Investors PIMCO Money Market Portfolio B                  117,274,847
Met Investors Janus Aggressive Growth Portfolio B             156,625,035
Met Investors PIMCO Total Return Portfolio                     20,919,820
Met Investors PIMCO Total Return Portfolio B                  468,025,020
Met Investors PIMCO Innovation Portfolio                          591,270
Met Investors PIMCO Innovation Portfolio B                     37,305,275
Met Investors T Rowe Price Mid Cap Growth Portfolio B         180,383,538
Met Investors MFS Research International Portfolio B           98,826,228
Met Investors AIM Small Cap Growth Portfolio                      346,477
Met Investors AIM Small Cap Growth Portfolio B                121,335,341
Met Investors AIM Mid Cap Core Equity Portfolio B             129,713,592
Met Investors Harris Oakmark International Portfolio B        166,009,964
Met Investors Third Avenue Small Cap Value Portfolio              516,707
Met Investors Third Avenue Small Cap Value Portfolio B        184,715,106
AIM Premier Equity Fund                                         2,008,181
AIM Capital Appreciation Fund                                     989,400
AIM International Growth Fund                                     842,767
AIM Balanced Fund                                               1,335,201
MFS Research Series                                               468,144
MFS Investors Trust Series                                        213,838
MFS New Discovery Series                                          374,872
Oppenheimer Main Street Growth & Income Fund                    1,844,014
Oppenheimer Bond Fund                                             424,023
Oppenheimer Money Fund                                            541,687
Oppenheimer Main Street Small Cap Growth Fund                     161,004
Oppenheimer Strategic Bond Fund                                   228,450
Fidelity Asset Manager Portfolio                              191,014,051
Fidelity Growth Portfolio                                     332,251,552
Fidelity Contrafund Portfolio                                 228,558,006
Fidelity Overseas Portfolio                                    14,839,077
Fidelity Equity-Income Portfolio                               25,180,263
Fidelity Index 500 Portfolio                                  166,111,195
                                                                [Download Table]
                                                           
Fidelity Money Market Portfolio              $   26,629,538
Scudder International Portfolio                  27,951,835
MetLife Davis Venture Value Fund                    695,290
MetLife Davis Venture Value Fund E              357,459,894
MetLife Harris Oakmark Focused Value Fund         3,291,196
MetLife Harris Oakmark Focused Value Fund B     339,059,006
MetLife Jennison Growth Portfolio B             160,917,221
MetLife MFS Total Return Series                     720,886
MetLife Putnam International Stock Portfolio        370,723
MetLife Janus Mid Cap Portfolio                   1,356,181
MetLife Russell 2000 Index Portfolio              1,999,267
MetLife Met/Putnam Voyager Portfolio A              577,867
MetLife SSR Aurora Portfolio                      2,406,148
MetLife SSR Bond Income Portfolio                   646,190
MetLife SSR Large Cap Value Portfolio               192,008
MetLife Stock Index Portfolio                    61,912,978
MetLife Stock Index Portfolio B                 118,828,583
MetLife Alger Equity Growth                         184,772
MetLife Lehman Brothers Aggregate Bond Index        694,658
MetLife FI Mid Cap Opportunities                    731,010
MetLife Harris Oakmark Large Cap Value            1,621,471
MetLife Morgan Stanley EAFE Index                   973,289
MetLife Mid Cap Stock Index                       1,341,594
Van Kampen Emerging Growth Fund                     705,544
Van Kampen Enterprise Fund                          199,732
Van Kampen Growth & Income Fund                     280,864
Federated American Leaders Fund II                  631,710
Federated High Income Bond Fund II                  259,101
Federated Growth Strategic Fund II                  314,890
Federated Equity Income Fund II                     356,099
Neuberger Berman Genesis Trust                       12,178
Alger American Small Capitalization Fund        103,638,816
T Rowe Price Growth Fund                         12,100,295
T Rowe Price International Fund                   1,266,887
T Rowe Price Prime Reserve Fund                   1,437,342
Janus Aspen Worldwide Growth                          5,800
American Growth Fund                              1,146,841
American Growth & Income Fund                     6,367,508
American Global Small Capitalization Fund         4,472,075
                                             --------------
                                             $5,936,884,273
                                             ==============

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding                                                
The changes in units outstanding for the years ended December 31, 2002 and
2003 were as follows:                                                     

                                                        [Enlarge/Download Table]

                                                                         Met Investors                                         
                                   -----------------------------------------------------------------------------------------   
                                   Lord Abbett    Lord Abbett  Lord Abbett  Lord Abbett   JP Morgan      Met/         Met/     
                                    Growth &       Growth &       Bond         Bond        Quality      Putnam       Putnam    
                                     Income         Income      Debenture    Debenture      Bond       Research     Research   
                                    Portfolio     Portfolio B   Portfolio   Portfolio B   Portfolio    Portfolio   Portfolio B 
                                   -----------    -----------  -----------  -----------  -----------  -----------  ----------- 
                                                                                                                               
Accumulation Units:                                                                                                            
 Unit Balance at January 1, 2002    13,056,744        829,894            -      949,659    2,400,419    4,271,829    1,148,099 
   Units Issued                      1,549,693      4,305,256       27,783    9,394,264    1,134,762      155,184    3,804,684 
   Units Redeemed                   (1,759,662)      (372,072)      (4,391)  (1,894,405)    (475,242)    (906,198)    (635,480)
                                   -----------    -----------  -----------  -----------  -----------  -----------  ----------- 
 Unit Balance at December 31, 2002  12,846,775      4,763,078       23,392    8,449,518    3,059,939    3,520,815    4,317,303 
   Units Issued                      1,219,207     10,714,433      243,062   25,392,846      624,403       60,653    6,293,780 
   Units Redeemed                   (1,917,032)      (847,953)    (158,323)  (3,513,084)  (1,007,135)    (753,055)  (1,698,082)
                                   -----------    -----------  -----------  -----------  -----------  -----------  ----------- 
 Unit Balance at December 31, 2003  12,148,950     14,629,558      108,131   30,329,280    2,677,207    2,828,413    8,913,001 
                                   ===========    ===========  ===========  ===========  ===========  ===========  =========== 

Annuitization Units:                                                                                                           
 Unit Balance at January 1, 2002             -              -            -            -            -            -            - 
   Units Issued                              -              -            -            -            -            -            - 
   Units Redeemed                            -              -            -            -            -            -            - 
                                   -----------    -----------  -----------  -----------  -----------  -----------  ----------- 
 Unit Balance at December 31, 2002           -              -            -            -            -            -            - 
   Units Issued                              -          1,658            -        2,676            -            -       20,018 
   Units Redeemed                            -             (4)           -         (592)           -            -          (92)
                                   -----------    -----------  -----------  -----------  -----------  -----------  ----------- 
 Unit Balance at December 31, 2003           -          1,654            -        2,084            -            -       19,926 
                                   ===========    ===========  ===========  ===========  ===========  ===========  =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]


                                                                          Met Investors                                 
                                   -------------------------------------------------------------------------------------
                                   Oppenheimer        PIMCO         PIMCO          Janus        PIMCO          PIMCO    
                                     Capital        Inflation       Money       Aggressive   Total Return   Total Return
                                   Appreciation   Protected Bond   Market         Growth         Bond           Bond    
                                   Portfolio B     Portfolio B   Portfolio B    Portfolio B   Portfolio     Portfolio B 
                                   ------------   -------------- -----------    -----------  ------------   ------------
                                                                                                                        
Accumulation Units:                                                                                                     
 Unit Balance at January 1, 2002     2,574,330               -     2,040,930      1,408,153    3,960,781      2,425,689 
   Units Issued                     14,586,041               -    17,646,874      6,396,924      496,215     20,415,679 
   Units Redeemed                   (1,517,417)              -   (10,706,168)      (676,086)  (1,145,748)    (1,756,563)
                                   -----------     -----------   -----------    -----------  -----------    ----------- 
 Unit Balance at December 31, 2002  15,642,954               -     8,981,636      7,128,991    3,311,248     21,084,805 
   Units Issued                     37,979,598      26,664,957    29,097,422     21,329,554      574,005     33,897,043 
   Units Redeemed                   (2,110,773)       (959,762)  (26,308,739)    (1,923,320)  (1,032,426)   (13,623,028)
                                   -----------     -----------   -----------    -----------  -----------    ----------- 
 Unit Balance at December 31, 2003  51,511,779      25,705,195    11,770,319     26,535,225    2,852,827     41,358,820 
                                   ===========     ===========   ===========    ===========  ===========    =========== 

Annuitization Units:                                                                                                    
 Unit Balance at January 1, 2002             -               -             -              -            -              - 
   Units Issued                              -               -             -              -            -              - 
   Units Redeemed                            -               -             -              -            -              - 
                                   -----------     -----------   -----------    -----------  -----------    ----------- 
 Unit Balance at December 31, 2002           -               -             -              -            -              - 
   Units Issued                          2,268           2,767        17,124              -            -         12,838 
   Units Redeemed                          (44)            (50)         (458)             -            -            (30)
                                   -----------     -----------   -----------    -----------  -----------    ----------- 
 Unit Balance at December 31, 2003       2,224           2,717        16,666              -            -         12,808 
                                   ===========     ===========   ===========    ===========  ===========    =========== 
                                                                [Download Table]


                                   ------      

                                      PIMCO    
                                    Innovation 
                                    Portfolio  
                                   ----------- 
                                               
Accumulation Units:                            
 Unit Balance at January 1, 2002             - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2002           - 
   Units Issued                        216,314 
   Units Redeemed                      (77,191)
                                   ----------- 
 Unit Balance at December 31, 2003     139,123 
                                   =========== 

Annuitization Units:                           
 Unit Balance at January 1, 2002             - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2002           - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2003           - 
                                   =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                                                          Met Investors                                        
                                   ------------------------------------------------------------------------------------------- 
                                                T Rowe Price      MFS          AIM          AIM          AIM         Harris    
                                      PIMCO       Mid Cap      Research     Small Cap    Small Cap     Mid Cap       Oakmark   
                                   Innovation      Growth    International   Growth       Growth     Core Equity  International
                                   Portfolio B  Portfolio B   Portfolio B   Portfolio   Portfolio B  Portfolio B   Portfolio B 
                                   -----------  ------------ ------------- -----------  -----------  -----------  -------------
                                                                                                                               
Accumulation Units:                                                                                                            
 Unit Balance at January 1, 2002       719,543    1,668,902       916,898            -      119,269       91,975        20,012 
   Units Issued                      3,285,269    8,867,108     7,647,919            -    4,384,817    2,782,051     2,076,456 
   Units Redeemed                     (545,597)  (1,045,601)   (2,170,029)           -     (439,321)    (457,630)     (654,717)
                                   -----------  -----------   -----------  -----------  -----------  -----------   ----------- 
 Unit Balance at December 31, 2002   3,459,215    9,490,409     6,394,788            -    4,064,765    2,416,396     1,441,751 
   Units Issued                      9,239,970   26,258,579    11,350,573       58,223   10,289,124   10,491,174    16,407,912 
   Units Redeemed                   (3,498,556)  (2,223,849)   (4,862,091)     (26,655)  (1,878,113)    (619,349)     (960,226)
                                   -----------  -----------   -----------  -----------  -----------  -----------   ----------- 
 Unit Balance at December 31, 2003   9,200,629   33,525,139    12,883,270       31,568   12,475,776   12,288,221    16,889,437 
                                   ===========  ===========   ===========  ===========  ===========  ===========   =========== 

Annuitization Units:                                                                                                           
 Unit Balance at January 1, 2002             -            -             -            -            -            -             - 
   Units Issued                          3,515            -             -            -            -            -             - 
   Units Redeemed                       (1,752)           -             -            -            -            -             - 
                                   -----------  -----------   -----------  -----------  -----------  -----------   ----------- 
 Unit Balance at December 31, 2002       1,763            -             -            -            -            -             - 
   Units Issued                              -        1,788         3,894            -            -          641             - 
   Units Redeemed                       (1,763)         (36)           (9)           -            -          (13)            - 
                                   -----------  -----------   -----------  -----------  -----------  -----------   ----------- 
 Unit Balance at December 31, 2003           -        1,752         3,885            -            -          628             - 
                                   ===========  ===========   ===========  ===========  ===========  ===========   =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                         Met Investors                                 AIM                           
                                   ------------------------    ---------------------------------------------------   
                                   Third Avenue   Third Avenue                                                       
                                    Small Cap      Small Cap     Premier      Capital      International             
                                      Value          Value       Equity     Appreciation      Growth       Balanced  
                                    Portfolio     Portfolio B     Fund          Fund           Fund          Fund    
                                   ------------   ------------ -----------  ------------   ------------- ----------- 
                                                                                                                     
Accumulation Units:                                                                                                  
 Unit Balance at January 1, 2002             -              -      544,055      236,958         189,032      334,293 
   Units Issued                              -      3,351,666      214,480      119,900          62,473      125,998 
   Units Redeemed                            -       (244,877)    (291,126)    (143,742)        (82,911)    (161,963)
                                   -----------    -----------  -----------  -----------     -----------  ----------- 
 Unit Balance at December 31, 2002           -      3,106,789      467,409      213,116         168,594      298,328 
   Units Issued                         54,100     17,714,300        9,559        9,235           8,983       11,432 
   Units Redeemed                       (3,990)    (1,264,357)     (49,841)     (35,148)        (19,864)     (45,166)
                                   -----------    -----------  -----------  -----------     -----------  ----------- 
 Unit Balance at December 31, 2003      50,110     19,556,732      427,127      187,203         157,713      264,594 
                                   ===========    ===========  ===========  ===========     ===========  =========== 

Annuitization Units:                                                                                                 
 Unit Balance at January 1, 2002             -              -            -            -               -            - 
   Units Issued                              -              -            -            -               -            - 
   Units Redeemed                            -              -            -            -               -            - 
                                   -----------    -----------  -----------  -----------     -----------  ----------- 
 Unit Balance at December 31, 2002           -              -            -            -               -            - 
   Units Issued                              -            974            -            -               -            - 
   Units Redeemed                            -            (20)           -            -               -            - 
                                   -----------    -----------  -----------  -----------     -----------  ----------- 
 Unit Balance at December 31, 2003           -            954            -            -               -            - 
                                   ===========    ===========  ===========  ===========     ===========  =========== 
                                                                [Download Table]

                                       MFS     
                                   ----------- 

                                     Research  
                                      Series   
                                   ----------- 
                                               
Accumulation Units:                            
 Unit Balance at January 1, 2002       126,396 
   Units Issued                         70,559 
   Units Redeemed                      (82,693)
                                   ----------- 
 Unit Balance at December 31, 2002     114,262 
   Units Issued                          2,134 
   Units Redeemed                      (19,299)
                                   ----------- 
 Unit Balance at December 31, 2003      97,097 
                                   =========== 

Annuitization Units:                           
 Unit Balance at January 1, 2002             - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2002           - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2003           - 
                                   =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                             MFS                                        Oppenheimer                             
                                  ------------------------    ---------------------------------------------------------------   
                                                              Main Street                              Main Street              
                                   Investors         New       Growth &                                   Small      Strategic  
                                     Trust        Discovery     Income         Bond        Money           Cap         Bond     
                                    Series         Series        Fund          Fund        Fund        Growth Fund     Fund     
                                  -----------    -----------  -----------  -----------  -----------    -----------  ----------- 
                                                                                                                                
Accumulation Units:                                                                                                             
Unit Balance at January 1, 2002        60,869         90,551      552,681       66,734      164,326         26,017       60,360 
 Units Issued                          30,846         54,473      189,616       51,420      742,197            798        9,925 
 Units Redeemed                       (37,423)       (69,565)    (305,791)     (48,069)    (738,979)        (2,676)     (26,652)
                                  -----------    -----------  -----------  -----------  -----------    -----------  ----------- 
Unit Balance at December 31, 2002      54,292         75,459      436,506       70,085      167,544         24,139       43,633 
 Units Issued                           3,663          3,512        7,657        4,433          288          2,677        1,131 
 Units Redeemed                        (7,122)       (20,263)     (45,312)      (4,270)     (67,609)        (1,766)      (6,703)
                                  -----------    -----------  -----------  -----------  -----------    -----------  ----------- 
Unit Balance at December 31, 2003      50,833         58,708      398,851       70,248      100,223         25,050       38,061 
                                  ===========    ===========  ===========  ===========  ===========    ===========  =========== 

Annuitization Units:                                                                                                            
Unit Balance at January 1, 2002             -              -            -            -            -              -            - 
 Units Issued                               -              -            -            -            -              -            - 
 Units Redeemed                             -              -            -            -            -              -            - 
                                  -----------    -----------  -----------  -----------  -----------    -----------  ----------- 
Unit Balance at December 31, 2002           -              -            -            -            -              -            - 
 Units Issued                               -              -            -            -            -              -            - 
 Units Redeemed                             -              -            -            -            -              -            - 
                                  -----------    -----------  -----------  -----------  -----------    -----------  ----------- 
Unit Balance at December 31, 2003           -              -            -            -            -              -            - 
                                  ===========    ===========  ===========  ===========  ===========    ===========  =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                                                            Fidelity                                      
                                   ---------------------------------------------------------------------------------------

                                      Asset                                                      Equity-         Index    
                                     Manager        Growth        Contrafund     Overseas        Income           500     
                                    Portfolio      Portfolio      Portfolio      Portfolio      Portfolio      Portfolio  
                                   -----------    -----------    -----------    -----------    -----------    ----------- 
                                                                                                                          
Accumulation Units:                                                                                                       
 Unit Balance at January 1, 2002    21,022,339     25,015,822     19,181,427      2,228,327      3,242,873     19,727,766 
   Units Issued                      2,059,632      3,426,291      2,781,999        130,146         88,856      3,288,938 
   Units Redeemed                   (3,062,973)    (3,791,926)    (2,371,021)      (444,342)      (604,163)    (2,847,878)
                                   -----------    -----------    -----------    -----------    -----------    ----------- 
 Unit Balance at December 31, 2002  20,018,998     24,650,187     19,592,405      1,914,131      2,727,566     20,168,826 
   Units Issued                      1,555,082      2,796,790      2,208,124         90,040         49,896      1,712,892 
   Units Redeemed                   (3,238,573)    (4,702,540)    (2,799,528)      (384,586)      (407,592)    (8,899,802)
                                   -----------    -----------    -----------    -----------    -----------    ----------- 
 Unit Balance at December 31, 2003  18,335,507     22,744,437     19,001,001      1,619,585      2,369,870     12,981,916 
                                   ===========    ===========    ===========    ===========    ===========    =========== 

Annuitization Units:                                                                                                      
 Unit Balance at January 1, 2002             -              -              -              -              -              - 
   Units Issued                              -              -              -              -              -              - 
   Units Redeemed                            -              -              -              -              -              - 
                                   -----------    -----------    -----------    -----------    -----------    ----------- 
 Unit Balance at December 31, 2002           -              -              -              -              -              - 
   Units Issued                              -              -              -              -              -              - 
   Units Redeemed                            -              -              -              -              -              - 
                                   -----------    -----------    -----------    -----------    -----------    ----------- 
 Unit Balance at December 31, 2003           -              -              -              -              -              - 
                                   ===========    ===========    ===========    ===========    ===========    =========== 
                                                                [Download Table]


                                   --          

                                      Money    
                                     Market    
                                    Portfolio  
                                   ----------- 
                                               
Accumulation Units:                            
 Unit Balance at January 1, 2002     5,072,413 
   Units Issued                      2,258,178 
   Units Redeemed                   (2,804,936)
                                   ----------- 
 Unit Balance at December 31, 2002   4,525,655 
   Units Issued                      2,756,152 
   Units Redeemed                   (3,362,416)
                                   ----------- 
 Unit Balance at December 31, 2003   3,919,391 
                                   =========== 

Annuitization Units:                           
 Unit Balance at January 1, 2002             - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2002           - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2003           - 
                                   =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                     Scudder I                                      MetLife                          
                                   ------------- --------------------------------------------------------------------
                                                    Davis        Davis          Harris       Harris                  
                                                   Venture      Venture        Oakmark      Oakmark       Jennison   
                                   International    Value        Value         Focused      Focused        Growth    
                                     Portfolio      Fund        Fund E        Value Fund  Value Fund B   Portfolio B 
                                   ------------- -----------  -----------    -----------  ------------   ----------- 
                                                                                                                     
Accumulation Units:                                                                                                  
 Unit Balance at January 1, 2002      2,560,863            -    2,649,034              -    1,863,945              - 
   Units Issued                       1,189,230            -   14,004,607              -    9,960,577      5,747,313 
   Units Redeemed                      (776,660)           -   (1,167,076)             -   (1,139,281)      (228,132)
                                    -----------  -----------  -----------    -----------  -----------    ----------- 
 Unit Balance at December 31, 2002    2,973,433            -   15,486,565              -   10,685,241      5,519,181 
   Units Issued                         958,872       29,130   29,515,663        120,508   21,294,615     18,720,667 
   Units Redeemed                      (800,024)      (1,759)  (5,589,696)        (4,762)  (2,461,629)    (5,296,950)
                                    -----------  -----------  -----------    -----------  -----------    ----------- 
 Unit Balance at December 31, 2003    3,132,281       27,371   39,412,532        115,746   29,518,227     18,942,898 
                                    ===========  ===========  ===========    ===========  ===========    =========== 

Annuitization Units:                                                                                                 
 Unit Balance at January 1, 2002              -            -            -              -            -              - 
   Units Issued                               -            -            -              -            -              - 
   Units Redeemed                             -            -            -              -            -              - 
                                    -----------  -----------  -----------    -----------  -----------    ----------- 
 Unit Balance at December 31, 2002            -            -            -              -            -              - 
   Units Issued                               -            -       17,613              -        6,413          1,013 
   Units Redeemed                             -            -          (65)             -          (38)           (20)
                                    -----------  -----------  -----------    -----------  -----------    ----------- 
 Unit Balance at December 31, 2003            -            -       17,548              -        6,375            993 
                                    ===========  ===========  ===========    ===========  ===========    =========== 
                                                                [Download Table]


                                   --------    
                                       MFS     
                                      Total    
                                      Return   
                                      Series   
                                   ----------- 
                                               
Accumulation Units:                            
 Unit Balance at January 1, 2002             - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2002           - 
   Units Issued                         20,499 
   Units Redeemed                         (743)
                                   ----------- 
 Unit Balance at December 31, 2003      19,756 
                                   =========== 

Annuitization Units:                           
 Unit Balance at January 1, 2002             - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2002           - 
   Units Issued                              - 
   Units Redeemed                            - 
                                   ----------- 
 Unit Balance at December 31, 2003           - 
                                   =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                                                             MetLife                                          
                                   ------------------------------------------------------------------------------------------ 
                                      Putnam                    Russell       Met/         Loomis                             
                                   International    Janus        2000        Putnam        Sayles        SSR          SSR     
                                       Stock       Mid Cap       Index       Voyager     High Yield    Aurora     Bond Income 
                                     Portfolio    Portfolio    Portfolio   Portfolio A      Bond      Portfolio    Portfolio  
                                   ------------- -----------  -----------  -----------  -----------  -----------  ----------- 
                                                                                                                              
Accumulation Units:                                                                                                           
 Unit Balance at January 1, 2002         94,368      501,084       89,476      190,680       17,973            -            - 
   Units Issued                          19,999      142,919       53,356       45,393        1,780            -            - 
   Units Redeemed                       (16,692)    (157,900)     (37,051)     (43,341)     (19,753)           -            - 
                                    -----------  -----------  -----------  -----------  -----------  -----------  ----------- 
 Unit Balance at December 31, 2002       97,675      486,103      105,781      192,732            -            -            - 
   Units Issued                          48,800       64,607      208,690       35,180            -      180,972       15,799 
   Units Redeemed                       (44,400)     (77,711)     (84,724)     (28,587)           -      (10,158)      (1,620)
                                    -----------  -----------  -----------  -----------  -----------  -----------  ----------- 
 Unit Balance at December 31, 2003      102,075      472,999      229,747      199,325            -      170,814       14,179 
                                    ===========  ===========  ===========  ===========  ===========  ===========  =========== 

Annuitization Units:                                                                                                          
 Unit Balance at January 1, 2002              -            -            -            -            -            -            - 
   Units Issued                               -            -            -            -            -            -            - 
   Units Redeemed                             -            -            -            -            -            -            - 
                                    -----------  -----------  -----------  -----------  -----------  -----------  ----------- 
 Unit Balance at December 31, 2002            -            -            -            -            -            -            - 
   Units Issued                               -            -            -            -            -            -            - 
   Units Redeemed                             -            -            -            -            -            -            - 
                                    -----------  -----------  -----------  -----------  -----------  -----------  ----------- 
 Unit Balance at December 31, 2003            -            -            -            -            -            -            - 
                                    ===========  ===========  ===========  ===========  ===========  ===========  =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                                                              MetLife                                  
                                   ------------------------------------------------------------------------------------
                                       SSR                                                      Lehman                 
                                    Large Cap        Stock          Stock          Alger       Brothers                
                                      Value          Index          Index          Equity     Aggregate    FI Mid Cap  
                                    Portfolio      Portfolio     Portfolio B       Growth     Bond Index  Opportunities
                                   -----------    -----------    -----------    -----------  -----------  -------------
                                                                                                                       
Accumulation Units:                                                                                                    
 Unit Balance at January 1, 2002             -              -        166,446              -            -             - 
   Units Issued                              -              -      6,874,465              -            -             - 
   Units Redeemed                            -              -     (2,019,099)             -            -             - 
                                   -----------    -----------    -----------    -----------  -----------   ----------- 
 Unit Balance at December 31, 2002           -              -      5,021,812              -            -             - 
   Units Issued                         21,321      2,064,241     11,278,710         10,994       68,128        77,968 
   Units Redeemed                       (1,340)      (107,827)    (3,234,790)        (2,588)     (13,098)       (6,260)
                                   -----------    -----------    -----------    -----------  -----------   ----------- 
 Unit Balance at December 31, 2003      19,981      1,956,414     13,065,732          8,406       55,030        71,708 
                                   ===========    ===========    ===========    ===========  ===========   =========== 

Annuitization Units:                                                                                                   
 Unit Balance at January 1, 2002             -              -              -              -            -             - 
   Units Issued                              -              -              -              -            -             - 
   Units Redeemed                            -              -              -              -            -             - 
                                   -----------    -----------    -----------    -----------  -----------   ----------- 
 Unit Balance at December 31, 2002           -              -              -              -            -             - 
   Units Issued                              -              -              -              -            -             - 
   Units Redeemed                            -              -              -              -            -             - 
                                   -----------    -----------    -----------    -----------  -----------   ----------- 
 Unit Balance at December 31, 2003           -              -              -              -            -             - 
                                   ===========    ===========    ===========    ===========  ===========   =========== 
                                                                [Download Table]


                                   --------      

                                   Harris Oakmark
                                     Large Cap   
                                       Value     
                                   --------------
                                                 
Accumulation Units:                              
 Unit Balance at January 1, 2002              -  
   Units Issued                               -  
   Units Redeemed                             -  
                                    -----------  
 Unit Balance at December 31, 2002            -  
   Units Issued                         145,332  
   Units Redeemed                          (974) 
                                    -----------  
 Unit Balance at December 31, 2003      144,358  
                                    ===========  

Annuitization Units:                             
 Unit Balance at January 1, 2002              -  
   Units Issued                               -  
   Units Redeemed                             -  
                                    -----------  
 Unit Balance at December 31, 2002            -  
   Units Issued                               -  
   Units Redeemed                             -  
                                    -----------  
 Unit Balance at December 31, 2003            -  
                                    ===========  

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                                MetLife                                Van Kampen                       
                                      --------------------------   --------------------------------------------------   

                                      Morgan Stanley     Mid         Emerging                  Growth &                 
                                           EAFE       Cap Stock       Growth     Enterprise     Income       Strategic  
                                          Index         Index          Fund         Fund         Fund          Stock    
                                      -------------- -----------   -----------  -----------  -----------    ----------- 
                                                                                                                        
Accumulation Units:                                                                                                     
 Unit Balance at January 1, 2002                 -             -       174,665       68,149            -         60,282 
   Units Issued                                  -             -       136,454       54,763      123,984              - 
   Units Redeemed                                -             -      (168,159)     (65,939)     (69,510)       (60,282)
                                       -----------   -----------   -----------  -----------  -----------    ----------- 
 Unit Balance at December 31, 2002               -             -       142,960       56,973       54,474              - 
   Units Issued                            748,243       138,931        14,980          220        8,985              - 
   Units Redeemed                         (637,808)      (10,655)      (26,588)      (6,993)      (1,837)             - 
                                       -----------   -----------   -----------  -----------  -----------    ----------- 
   Unit Balance at December 31, 2003       110,435       128,276       131,352       50,200       61,622              - 
                                       ===========   ===========   ===========  ===========  ===========    =========== 

Annuitization Units:                                                                                                    
 Unit Balance at January 1, 2002                 -             -             -            -            -              - 
   Units Issued                                  -             -             -            -            -              - 
   Units Redeemed                                -             -             -            -            -              - 
                                       -----------   -----------   -----------  -----------  -----------    ----------- 
 Unit Balance at December 31, 2002               -             -             -            -            -              - 
   Units Issued                                  -             -             -            -            -              - 
   Units Redeemed                                -             -             -            -            -              - 
                                       -----------   -----------   -----------  -----------  -----------    ----------- 
 Unit Balance at December 31, 2003               -             -             -            -            -              - 
                                       ===========   ===========   ===========  ===========  ===========    =========== 
                                                                [Download Table]

                                       Federated  
                                      ----------- 

                                       American   
                                        Leaders   
                                        Fund II   
                                      ----------- 
                                                  
Accumulation Units:                               
 Unit Balance at January 1, 2002          249,732 
   Units Issued                           145,362 
   Units Redeemed                        (232,904)
                                      ----------- 
 Unit Balance at December 31, 2002        162,190 
   Units Issued                             7,454 
   Units Redeemed                         (29,183)
                                      ----------- 
   Unit Balance at December 31, 2003      140,461 
                                      =========== 

Annuitization Units:                              
 Unit Balance at January 1, 2002                - 
   Units Issued                                 - 
   Units Redeemed                               - 
                                      ----------- 
 Unit Balance at December 31, 2002              - 
   Units Issued                                 - 
   Units Redeemed                               - 
                                      ----------- 
 Unit Balance at December 31, 2003              - 
                                      =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                                 Federated                        Neuberger             Alger         T Rowe   
                                   -------------------------------------  ------------------------  -------------- ----------- 
                                      High                                                                                     
                                     Income       Growth       Equity                                   Small                  
                                      Bond       Strategic     Income       Genesis                 Capitalization    Growth   
                                     Fund II      Fund II      Fund II       Trust       Partners        Fund          Fund    
                                   -----------  -----------  -----------  -----------  -----------  -------------- ----------- 
                                                                                                                               
Accumulation Units:                                                                                                            
 Unit Balance at January 1, 2002        60,212       55,308      116,932      478,656      295,027     9,374,497       656,181 
   Units Issued                         34,908        1,344       79,954      180,589       12,514     1,845,548        58,302 
   Units Redeemed                      (40,971)      (5,425)    (105,059)    (180,154)    (307,541)   (1,401,918)     (129,121)
                                   -----------  -----------  -----------  -----------  -----------   -----------   ----------- 
 Unit Balance at December 31, 2002      54,149       51,227       91,827      479,091            -     9,818,127       585,362 
   Units Issued                            385          759        4,811        1,076            -     1,578,628        15,281 
   Units Redeemed                       (6,170)      (4,587)     (14,895)    (478,107)           -    (1,638,205)     (429,468)
                                   -----------  -----------  -----------  -----------  -----------   -----------   ----------- 
 Unit Balance at December 31, 2003      48,364       47,399       81,743        2,060            -     9,758,550       171,175 
                                   ===========  ===========  ===========  ===========  ===========   ===========   =========== 

Annuitization Units:                                                                                                           
 Unit Balance at January 1, 2002             -            -            -            -            -             -             - 
   Units Issued                              -            -            -            -            -             -             - 
   Units Redeemed                            -            -            -            -            -             -             - 
                                   -----------  -----------  -----------  -----------  -----------   -----------   ----------- 
 Unit Balance at December 31, 2002           -            -            -            -            -             -             - 
   Units Issued                              -            -            -            -            -             -             - 
   Units Redeemed                            -            -            -            -            -             -             - 
                                   -----------  -----------  -----------  -----------  -----------   -----------   ----------- 
 Unit Balance at December 31, 2003           -            -            -            -            -             -             - 
                                   ===========  ===========  ===========  ===========  ===========   ===========   =========== 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(6) Changes in Units Outstanding, continued:                                    

                                                        [Enlarge/Download Table]

                                             T Rowe               Janus                     American                  
                                   -------------------------   -----------  ---------------------------------------   
                                                                                Global                                
                                                     Prime        Aspen         Small                       Growth &  
                                   International    Reserve     Worldwide   Capitalization    Growth         Income   
                                       Fund          Fund        Growth          Fund          Fund           Fund    
                                   -------------  -----------  -----------  -------------- -----------    ----------- 
                                                                                                                      
Accumulation Units:                                                                                                   
 Unit Balance at January 1, 2002        664,996        91,744    1,246,925             -             -              - 
   Units Issued                          78,426        91,477      324,304             -             -              - 
   Units Redeemed                      (109,299)      (71,943)    (522,053)            -             -              - 
                                    -----------   -----------  -----------   -----------   -----------    ----------- 
 Unit Balance at December 31, 2002      634,123       111,278    1,049,176             -             -              - 
   Units Issued                          10,392        59,766        1,815        87,998        61,620         57,449 
   Units Redeemed                      (526,688)      (83,835)  (1,049,406)      (10,076)       (1,866)        (3,817)
                                    -----------   -----------  -----------   -----------   -----------    ----------- 
 Unit Balance at December 31, 2003      117,827        87,209        1,585        77,922        59,754         53,632 
                                    ===========   ===========  ===========   ===========   ===========    =========== 

Annuitization Units:                                                                                                  
 Unit Balance at January 1, 2002              -             -            -             -             -              - 
   Units Issued                               -             -            -             -             -              - 
   Units Redeemed                             -             -            -             -             -              - 
                                    -----------   -----------  -----------   -----------   -----------    ----------- 
 Unit Balance at December 31, 2002            -             -            -             -             -              - 
   Units Issued                               -             -            -             -             -              - 
   Units Redeemed                             -             -            -             -             -              - 
                                    -----------   -----------  -----------   -----------   -----------    ----------- 
 Unit Balance at December 31, 2003            -             -            -             -             -              - 
                                    ===========   ===========  ===========   ===========   ===========    =========== 

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation)   
The realized gain (loss) on the sale of fund shares and the change in     
  unrealized appreciation (depreciation) for each sub-account during the years
ended December 31, 2003 and December 31, 2002 follows:                    

                                                        [Enlarge/Download Table]

                                                                             Realized Gain (Loss)                  
                                                           ------------------------------------------------------- 
                                                                        Aggregate      Aggregate Cost              
                                                           Year or Proceeds from Sales of Fund Shares   Realized   
                                                           Period    of Fund Shares       Redeemed     Gain (Loss) 
                                                           ------- ------------------- -------------- ------------ 
                                                                                                                   

Met Investors Lord Abbett Growth & Income Portfolio         2003      $ 42,903,909      $ 53,442,890  $(10,538,981)
                                                            2002       291,523,289       294,835,936    (3,312,647)

Met Investors Lord Abbett Growth & Income Portfolio B       2003            58,245            66,723        (8,478)
                                                            2002           595,910           714,200      (118,290)

Met Investors Lord Abbett Bond Debenture Portfolio          2003         2,328,817         2,309,181        19,636 
                                                            2002            18,015            18,911          (896)

Met Investors Lord Abbett Bond Debenture Portfolio B        2003        21,704,064        20,650,382     1,053,682 
                                                            2002        16,689,856        17,463,501      (773,645)

Met Investors JP Morgan Quality Bond Portfolio              2003        10,947,509        10,527,548       419,961 
                                                            2002        25,597,796        25,524,161        73,635 

Met Investors Met/Putnam Research Portfolio                 2003         5,381,062         5,834,064      (453,002)
                                                            2002         6,099,157         6,769,561      (670,404)

Met Investors Met/Putnam Research Portfolio B               2003         3,438,660         3,545,807      (107,147)
                                                            2002         1,255,930         1,490,017      (234,087)

Met Investors Oppenheimer Capital Appreciation Portfolio B  2003            20,539            21,112          (573)
                                                            2002         1,052,602         1,202,113      (149,511)

Met Investors PIMCO Inflation Protected Bond Portfolio B    2003                 -                 -             - 
                                                            2002                 -                 -             - 

Met Investors PIMCO Money Market Portfolio B                2003       130,730,917       130,730,917             - 
                                                            2002        49,095,311        49,095,311             - 

Met Investors Janus Aggressive Growth Portfolio B           2003         1,342,395         1,313,023        29,372 
                                                            2002           654,286           773,380      (119,094)

Met Investors PIMCO Total Return Bond Portfolio             2003         7,681,124         6,984,218       696,906 
                                                            2002         7,495,714         7,316,530       179,184 

Met Investors PIMCO Total Return Bond Portfolio B           2003        80,310,479        76,541,328     3,769,151 
                                                            2002         1,574,251         1,527,983        46,268 

Met Investors PIMCO Innovation Portfolio                    2003           269,449           265,393         4,056 
                                                            2002                 -                 -             - 

Met Investors PIMCO Innovation Portfolio B                  2003         7,344,791         7,534,420      (189,629)
                                                            2002           430,803           632,154      (201,351)

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                                        Realized Gain (Loss)                 
                                                       ----------------------------------------------------- 
                                                                    Aggregate      Aggregate Cost            
                                                       Year or Proceeds from Sales of Fund Shares  Realized  
                                                       Period    of Fund Shares       Redeemed    Gain (Loss)
                                                       ------- ------------------- -------------- -----------
                                                                                                             

Met Investors T Rowe Price Mid Cap Growth Portfolio B   2003       $   155,464      $   173,007    $ (17,543)
                                                        2002           642,350          858,443     (216,093)

Met Investors MFS Research International B              2003        24,739,315       24,537,449      201,866 
                                                        2002        10,070,141       10,580,261     (510,120)

Met Investors AIM Small Cap Growth Portfolio            2003           285,642          272,377       13,265 
                                                        2002                 -                -            - 

Met Investors AIM Small Cap Growth Portfolio B          2003         8,256,125        8,036,529      219,596 
                                                        2002           704,109          785,490      (81,381)

Met Investors AIM Mid Cap Core Equity Portfolio B       2003           140,962          151,892      (10,930)
                                                        2002         1,232,763        1,379,477     (146,714)

Met Investors Harris Oakmark International Portfolio B  2003           912,138          962,167      (50,029)
                                                        2002         4,769,015        4,804,964      (35,949)

Met Investors Third Avenue Small Cap Value Portfolio    2003            33,736           31,297        2,439 
                                                        2002                 -                -            - 

Met Investors Third Avenue Small Cap Value Portfolio B  2003           647,373          620,549       26,824 
                                                        2002           403,229          407,288       (4,059)

AIM Premier Equity Fund                                 2003           172,220          267,890      (95,670)
                                                        2002           835,523        1,261,244     (425,721)

AIM Capital Appreciation Fund                           2003           132,613          205,044      (72,431)
                                                        2002           510,548          789,132     (278,584)

AIM International Growth Fund                           2003            76,503          120,515      (44,012)
                                                        2002           272,932          412,451     (139,519)

AIM Balanced Fund                                       2003           189,273          244,756      (55,483)
                                                        2002           631,610          777,374     (145,764)

MFS Research Series                                     2003            68,660          101,563      (32,903)
                                                        2002           266,053          396,789     (130,736)

MFS Investors Trust Series                              2003            26,493           33,596       (7,103)
                                                        2002           127,785          158,337      (30,552)

MFS New Discovery Series                                2003            99,065          138,044      (38,979)
                                                        2002           327,864          422,011      (94,147)

Oppenheimer Main Street Growth & Income Fund            2003           176,304          239,919      (63,615)
                                                        2002           980,235        1,208,814     (228,579)

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                                Realized Gain (Loss)                  
                                              ------------------------------------------------------- 
                                                           Aggregate      Aggregate Cost              
                                              Year or Proceeds from Sales of Fund Shares   Realized   
                                              Period    of Fund Shares       Redeemed     Gain (Loss) 
                                              ------- ------------------- -------------- ------------ 
                                                                                                      

Oppenheimer Bond Fund                          2003      $     33,094      $     32,577  $        517 
                                               2002           244,130           249,696        (5,566)

Oppenheimer Money Fund                         2003           379,228           379,228             - 
                                               2002           699,283           699,283             - 

Oppenheimer Main Street Small Cap Growth Fund  2003            11,883            13,930        (2,047)
                                               2002            12,911            14,878        (1,967)

Oppenheimer Strategic Bond Fund                2003            44,399            44,258           141 
                                               2002           150,423           155,437        (5,014)

Fidelity Asset Manager Portfolio               2003        22,393,960        27,045,478    (4,651,518)
                                               2002       393,445,900       397,279,333    (3,833,433)

Fidelity Growth Portfolio                      2003        33,722,099        50,120,059   (16,397,960)
                                               2002       314,967,074       323,402,057    (8,434,983)

Fidelity Contrafund Portfolio                  2003        16,245,844        17,873,772    (1,627,928)
                                               2002       212,046,853       213,471,517    (1,424,664)

Fidelity Overseas Portfolio                    2003         2,263,767         3,525,183    (1,261,416)
                                               2002         3,421,687         4,817,243    (1,395,556)

Fidelity Equity-Income Portfolio               2003         3,917,020         4,724,426      (807,406)
                                               2002         5,170,737         6,343,165    (1,172,428)

Fidelity Index 500 Portfolio                   2003        90,774,161       105,135,746   (14,361,585)
                                               2002       226,822,745       229,423,747    (2,601,002)

Fidelity Money Market Portfolio                2003        16,762,058        16,762,058             - 
                                               2002        65,970,622        65,970,622             - 

Scudder I International Portfolio              2003         2,629,841         4,358,513    (1,728,672)
                                               2002        30,506,860        32,678,379    (2,171,519)

MetLife Davis Venture Value Fund               2003            38,328            38,064           264 
                                               2002                 -                 -             - 

MetLife Davis Venture Value Fund E             2003        24,941,792        25,044,059      (102,267)
                                               2002           967,804         1,047,284       (79,480)

MetLife Harris Oakmark Focused Value Fund      2003            24,562            24,006           556 
                                               2002                 -                 -             - 

MetLife Harris Oakmark Focused Value Fund B    2003           314,319           320,191        (5,872)
                                               2002         1,530,063         1,737,651      (207,588)

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                              Realized Gain (Loss)                  
                                             ------------------------------------------------------ 
                                                          Aggregate      Aggregate Cost             
                                             Year or Proceeds from Sales of Fund Shares  Realized   
                                             Period    of Fund Shares       Redeemed    Gain (Loss) 
                                             ------- ------------------- -------------- ----------- 
                                                                                                    

MetLife Jennison Growth Portfolio B           2003       $36,733,966      $34,884,893   $ 1,849,073 
                                              2002           131,074          139,179        (8,105)

MetLife MFS Total Return Series               2003            31,105           30,331           774 
                                              2002                 -                -             - 

MetLife Putnam International Stock Portfolio  2003           147,723          170,952       (23,229)
                                              2002            55,498           71,729       (16,231)

MetLife Janus Mid Cap Portfolio               2003           135,378          254,866      (119,488)
                                              2002           258,078          512,615      (254,537)

MetLife Russell 2000 Index Portfolio          2003           630,231          619,803        10,428 
                                              2002           144,723          177,708       (32,985)

MetLife Met/Putnam Voyager Portfolio A        2003            55,906           96,375       (40,469)
                                              2002            77,093          138,464       (61,371)

MetLife Loomis Sayles High Yield Bond         2003                 -                -             - 
                                              2002             4,862            5,370          (508)

MetLife SSR Aurora Portfolio                  2003            81,558           77,774         3,784 
                                              2002                 -                -             - 

MetLife SSR Bond Income Portfolio             2003            72,767           72,659           108 
                                              2002                 -                -             - 

MetLife SSR Large Cap Value Portfolio         2003            11,927           12,033          (106)
                                              2002                 -                -             - 

MetLife Stock Index Portfolio                 2003         2,468,592        2,361,662       106,930 
                                              2002                 -                -             - 

MetLife Stock Index Portfolio B               2003         9,748,564        9,554,858       193,706 
                                              2002        11,211,932       12,548,635    (1,336,703)

MetLife Alger Equity Growth                   2003            49,601           49,261           340 
                                              2002                 -                -             - 

MetLife Lehman Brothers Aggregate Bond Index  2003           140,495          142,064        (1,569)
                                              2002                 -                -             - 

MetLife FI Mid Cap Opportunities              2003            51,607           48,223         3,384 
                                              2002                 -                -             - 

MetLife Harris Oakmark Large Cap Value        2003             5,764            5,448           316 
                                              2002                 -                -             - 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                    Realized Gain (Loss)                  
                                   ------------------------------------------------------ 
                                                Aggregate      Aggregate Cost             
                                   Year or Proceeds from Sales of Fund Shares  Realized   
                                   Period    of Fund Shares       Redeemed    Gain (Loss) 
                                   ------- ------------------- -------------- ----------- 
                                                                                          

MetLife Morgan Stanley EAFE Index   2003       $ 5,261,858      $ 5,187,244   $    74,614 
                                    2002                 -                -             - 

MetLife Mid Cap Stock Index         2003            90,444           84,986         5,458 
                                    2002                 -                -             - 

Van Kampen Emerging Growth Fund     2003            96,663          158,665       (62,002)
                                    2002           534,912          901,549      (366,637)

Van Kampen Enterprise Fund          2003            23,402           31,312        (7,910)
                                    2002           188,175          270,310       (82,135)

Van Kampen Growth & Income Fund     2003            11,902           12,468          (566)
                                    2002           247,427          240,568         6,859 

Van Kampen Strategic Stock Fund     2003                 -                -             - 
                                    2002           306,519          289,211        17,308 

Federated American Leaders Fund II  2003           116,855          141,070       (24,215)
                                    2002           857,771          995,497      (137,726)

Federated High Income Bond Fund II  2003            33,704           36,939        (3,235)
                                    2002           185,787          210,652       (24,865)

Federated Growth Strategic Fund II  2003            19,703           35,708       (16,005)
                                    2002            22,360           41,951       (19,591)

Federated Equity Income Fund II     2003            54,074           71,115       (17,041)
                                    2002           277,572          359,951       (82,379)

Neuberger Genesis Trust             2003         3,182,881        3,026,016       156,865 
                                    2002         3,945,915        3,901,378        44,537 

Neuberger Berman Partners           2003                 -                -             - 
                                    2002         1,628,818        1,816,376      (187,558)

Alger Small Capitalization Fund     2003         5,115,383       10,368,122    (5,252,739)
                                    2002        92,308,865       95,743,000    (3,434,135)

T Rowe Growth Fund                  2003        21,188,315       31,163,803    (9,975,488)
                                    2002        49,309,288       51,995,771    (2,686,483)

T Rowe International Stock Fund     2003         3,663,594        5,833,817    (2,170,223)
                                    2002         7,698,878        8,013,342      (314,464)

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued                                                               

                                                        [Enlarge/Download Table]

                                                           Realized Gain (Loss)                  
                                          ------------------------------------------------------ 
                                                       Aggregate      Aggregate Cost             
                                          Year or Proceeds from Sales of Fund Shares  Realized   
                                          Period    of Fund Shares       Redeemed    Gain (Loss) 
                                          ------- ------------------- -------------- ----------- 
                                                                                                 

T Rowe Prime Reserve Fund                  2003       $   791,463      $   791,463   $         - 
                                           2002         3,106,226        3,106,226             - 

Janus Aspen Worldwide Growth               2003         5,222,175        8,741,370    (3,519,195)
                                           2002        11,618,006       12,871,450    (1,253,444)

American Global Small Capitalization Fund  2003            75,904           69,019         6,885 
                                           2002                 -                -             - 

American Growth Fund                       2003            11,710           11,048           662 
                                           2002                 -                -             - 

American Growth & Income Fund              2003            96,825           93,284         3,541 
                                           2002                 -                -             - 

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                                        Unrealized Appreciation (Depreciation)     
                                                                   ----------------------------------------------- 
                                                                    Appreciation     Appreciation                  
                                                           Year or (Depreciation)   (Depreciation)                 
                                                           Period  End of Period  Beginning of Period    Change    
                                                           ------- -------------- ------------------- ------------ 
                                                                                                                   

Met Investors Lord Abbett Growth & Income Portfolio         2003    $ (9,560,751)    $(89,096,088)    $ 79,535,337 
                                                            2002     (89,096,088)     (11,523,760)     (77,572,328)

Met Investors Lord Abbett Growth & Income Portfolio B       2003      76,084,138      (27,212,543)     103,296,681 
                                                            2002     (27,212,543)       1,177,296      (28,389,839)

Met Investors Lord Abbett Bond Debenture Portfolio          2003          38,138              102           38,036 
                                                            2002             102                -              102 

Met Investors Lord Abbett Bond Debenture Portfolio B        2003      39,529,682        1,323,627       38,206,055 
                                                            2002       1,323,627           66,391        1,257,236 

Met Investors JP Morgan Quality Bond Portfolio              2003         743,674        1,146,501         (402,827)
                                                            2002       1,146,501           59,526        1,086,975 

Met Investors Met/Putnam Research Portfolio                 2003       1,276,614       (4,087,958)       5,364,572 
                                                            2002      (4,087,958)       2,388,915       (6,476,873)

Met Investors Met/Putnam Research Portfolio B               2003       7,997,493       (3,226,127)      11,223,620 
                                                            2002      (3,226,127)          73,143       (3,299,270)

Met Investors Oppenheimer Capital Appreciation Portfolio B  2003      49,055,486      (11,624,942)      60,680,428 
                                                            2002     (11,624,942)         (24,399)     (11,600,543)

Met Investors PIMCO Inflation Protected Bond Portfolio B    2003       2,075,094                -        2,075,094 
                                                            2002               -                -                - 

Met Investors PIMCO Money Market Portfolio B                2003               -                -                - 
                                                            2002               -                -                - 

Met Investors Janus Aggressive Growth Portfolio B           2003      20,293,587       (6,043,694)      26,337,281 
                                                            2002      (6,043,694)          63,666       (6,107,360)

Met Investors PIMCO Total Return Bond Portfolio             2003       1,790,919        1,879,764          (88,845)
                                                            2002       1,879,764         (348,024)       2,227,788 

Met Investors PIMCO Total Return Bond Portfolio B           2003      11,925,780        9,787,280        2,138,500 
                                                            2002       9,787,280         (289,416)      10,076,696 

Met Investors PIMCO Innovation Portfolio                    2003          55,774                -           55,774 
                                                            2002               -                -                - 

Met Investors PIMCO Innovation Portfolio B                  2003       4,712,588       (4,837,981)       9,550,569 
                                                            2002      (4,837,981)         (24,789)      (4,813,192)

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                                    Unrealized Appreciation (Depreciation)     
                                                               ----------------------------------------------- 
                                                                Appreciation     Appreciation                  
                                                       Year or (Depreciation)   (Depreciation)                 
                                                       Period  End of Period  Beginning of Period    Change    
                                                       ------- -------------- ------------------- ------------ 
                                                                                                               

Met Investors T Rowe Price Mid Cap Growth Portfolio B   2003    $ 23,588,921     $(11,199,294)    $ 34,788,215 
                                                        2002     (11,199,294)         532,265      (11,731,559)

Met Investors MFS Research International B              2003      22,674,482       (1,665,261)      24,339,743 
                                                        2002      (1,665,261)         (48,206)      (1,617,055)

Met Investors AIM Small Cap Growth Portfolio            2003          22,604                -           22,604 
                                                        2002               -                -                - 

Met Investors AIM Small Cap Growth Portfolio B          2003      22,612,855       (3,236,418)      25,849,273 
                                                        2002      (3,236,418)          44,343       (3,280,761)

Met Investors AIM Mid Cap Core Equity Portfolio B       2003      17,247,736       (1,420,926)      18,668,662 
                                                        2002      (1,420,926)          22,724       (1,443,650)

Met Investors Harris Oakmark International Portfolio B  2003      31,414,745         (597,503)      32,012,248 
                                                        2002        (597,503)           3,825         (601,328)

Met Investors Third Avenue Small Cap Value Portfolio    2003          61,093                -           61,093 
                                                        2002               -                -                - 

Met Investors Third Avenue Small Cap Value Portfolio B  2003      38,868,061           66,218       38,801,843 
                                                        2002          66,218                -           66,218 

AIM Premier Equity Fund                                 2003        (474,806)        (880,515)         405,709 
                                                        2002        (880,515)        (651,310)        (229,205)

AIM Capital Appreciation Fund                           2003        (188,091)        (446,410)         258,319 
                                                        2002        (446,410)        (482,121)          35,711 

AIM International Growth Fund                           2003        (179,288)        (370,605)         191,317 
                                                        2002        (370,605)        (399,857)          29,252 

AIM Balanced Fund                                       2003        (160,965)        (360,735)         199,770 
                                                        2002        (360,735)        (214,518)        (146,217)

MFS Research Series                                     2003         (91,755)        (199,766)         108,011 
                                                        2002        (199,766)        (200,526)             760 

MFS Investors Trust Series                              2003         (14,119)         (57,009)          42,890 
                                                        2002         (57,009)         (34,738)         (22,271)

MFS New Discovery Series                                2003         (25,403)        (156,002)         130,599 
                                                        2002        (156,002)         (69,844)         (86,158)

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                           Unrealized Appreciation (Depreciation)     
                                                      ----------------------------------------------- 
                                                       Appreciation     Appreciation                  
                                              Year or (Depreciation)   (Depreciation)                 
                                              Period  End of Period  Beginning of Period    Change    
                                              ------- -------------- ------------------- ------------ 
                                                                                                      

Oppenheimer Main Street Growth & Income Fund   2003   $    (146,061)    $    (552,093)   $    406,032 
                                               2002        (552,093)         (375,551)       (176,542)

Oppenheimer Bond Fund                          2003          19,683            15,805           3,878 
                                               2002          15,805             5,462          10,343 

Oppenheimer Money Fund                         2003               -                 -               - 
                                               2002               -                 -               - 

Oppenheimer Main Street Small Cap Growth Fund  2003          21,489           (32,864)         54,353 
                                               2002         (32,864)          (10,662)        (22,202)

Oppenheimer Strategic Bond Fund                2003          23,852              (735)         24,587 
                                               2002            (735)           (1,020)            285 

Fidelity Asset Manager Portfolio               2003     (17,569,077)      (43,474,896)     25,905,819 
                                               2002     (43,474,896)      (23,531,874)    (19,943,022)

Fidelity Growth Portfolio                      2003     (62,344,841)     (146,036,278)     83,691,437 
                                               2002    (146,036,278)      (54,662,872)    (91,373,406)

Fidelity Contrafund Portfolio                  2003      21,272,380       (34,833,179)     56,105,559 
                                               2002     (34,883,179)      (13,377,047)    (21,506,132)

Fidelity Overseas Portfolio                    2003      (2,493,615)       (7,589,688)      5,096,073 
                                               2002      (7,589,688)       (5,981,065)     (1,608,623)

Fidelity Equity-Income Portfolio               2003         128,097        (6,355,406)      6,483,503 
                                               2002      (6,355,406)         (906,835)     (5,448,571)

Fidelity Index 500 Portfolio                   2003      (1,020,037)      (58,062,956)     57,042,919 
                                               2002     (58,062,956)        1,429,728     (59,492,684)

Fidelity Money Market Portfolio                2003               -                 -               - 
                                               2002               -                 -               - 

Scudder I International Portfolio              2003      (6,796,727)      (13,010,946)      6,214,219 
                                               2002     (13,010,946)      (11,623,392)     (1,387,554)

MetLife Davis Venture Value Fund               2003          88,012                 -          88,012 
                                               2002               -                 -               - 

MetLife Davis Venture Value Fund E             2003      64,517,006        (9,993,308)     74,510,314 
                                               2002      (9,993,308)          651,406     (10,644,714)

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                         Unrealized Appreciation (Depreciation)     
                                                     ---------------------------------------------- 
                                                      Appreciation     Appreciation                 
                                             Year or (Depreciation)   (Depreciation)                
                                             Period  End of Period  Beginning of Period    Change   
                                             ------- -------------- ------------------- ----------- 
                                                                                                    

MetLife Harris Oakmark Focused Value Fund     2003    $   355,482       $         -     $   355,482 
                                              2002              -                 -               - 

MetLife Harris Oakmark Focused Value Fund B   2003     70,883,090        (3,765,186)     74,648,276 
                                              2002     (3,765,186)        1,445,855      (5,211,041)

MetLife Jennison Growth Portfolio B           2003     23,105,521        (2,035,146)     25,140,667 
                                              2002     (2,035,146)                -      (2,035,146)

MetLife MFS Total Return Series               2003         46,065                 -          46,065 
                                              2002              -                 -               - 

MetLife Putnam International Stock Portfolio  2003         (5,061)         (111,231)        106,170 
                                              2002       (111,231)          (65,550)        (45,681)

MetLife Janus Mid Cap Portfolio               2003       (446,432)         (794,013)        347,581 
                                              2002       (794,013)         (722,067)        (71,946)

MetLife Russell 2000 Index Portfolio          2003        231,158          (109,899)        341,057 
                                              2002       (109,899)          (18,838)        (91,061)

MetLife Met/Putnam Voyager Portfolio A        2003       (158,424)         (278,354)        119,930 
                                              2002       (278,354)         (190,417)        (87,937)

MetLife Loomis Sayles High Yield Bond         2003              -                 -               - 
                                              2002              -            (8,635)          8,635 

MetLife SSR Aurora Portfolio                  2003        348,713                 -         348,713 
                                              2002              -                 -               - 

MetLife SSR Bond Income Portfolio             2003         12,545                 -          12,545 
                                              2002              -                 -               - 

MetLife SSR Large Cap Value Portfolio         2003         20,377                 -          20,377 
                                              2002              -                 -               - 

MetLife Stock Index Portfolio                 2003      7,763,978                 -       7,763,978 
                                              2002              -                 -               - 

MetLife Stock Index Portfolio B               2003     17,052,043        (4,217,392)     21,269,435 
                                              2002     (4,217,392)           13,854      (4,231,246)

MetLife Alger Equity Growth                   2003         20,041                 -          20,041 
                                              2002              -                 -               - 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                        Unrealized Appreciation (Depreciation)    
                                                     -------------------------------------------- 
                                                      Appreciation     Appreciation               
                                             Year or (Depreciation)   (Depreciation)              
                                             Period  End of Period  Beginning of Period   Change  
                                             ------- -------------- ------------------- --------- 
                                                                                                  

MetLife Lehman Brothers Aggregate Bond Index  2003     $   8,123         $       -      $   8,123 
                                              2002             -                 -              - 

MetLife FI Mid Cap Opportunities              2003        88,530                 -         88,530 
                                              2002             -                 -              - 

MetLife Harris Oakmark Large Cap Value        2003       129,746                 -        129,746 
                                              2002             -                 -              - 

MetLife Morgan Stanley EAFE Index             2003        96,659                 -         96,659 
                                              2002             -                 -              - 

MetLife Mid Cap Stock Index                   2003       144,303                 -        144,303 
                                              2002             -                 -              - 

Van Kampen Emerging Growth Fund               2003      (175,497)         (354,506)       179,009 
                                              2002      (354,506)         (473,731)       119,225 

Van Kampen Enterprise Fund                    2003       (29,725)          (73,224)        43,499 
                                              2002       (73,224)          (82,822)         9,598 

Van Kampen Growth & Income Fund               2003        34,636           (33,073)        67,709 
                                              2002       (33,073)                -        (33,073)

Van Kampen Strategic Stock Fund               2003             -                 -              - 
                                              2002             -            12,418        (12,418)

Federated American Leaders Fund II            2003        16,459          (141,566)       158,025 
                                              2002      (141,566)          (46,418)       (95,148)

Federated High Income Bond Fund II            2003         3,998           (30,425)        34,423 
                                              2002       (30,425)          (31,800)         1,375 

Federated Growth Strategic Fund II            2003      (112,525)         (189,708)        77,183 
                                              2002      (189,708)         (149,281)       (40,427)

Federated Equity Income Fund II               2003       (19,625)         (103,581)        83,956 
                                              2002      (103,581)          (79,059)       (24,522)

Neuberger Genesis Trust                       2003         4,451           165,148       (160,697)
                                              2002       165,148           389,444       (224,296)

Neuberger Partners                            2003             -                 -              - 
                                              2002             -          (183,291)       183,291 

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A                                        
Notes to Financial Statements                                                   
December 31, 2003                                                               

(7) Realized Gain (Loss) and Change in Unrealized Appreciation (Depreciation),  
continued:                                                              

                                                        [Enlarge/Download Table]

                                                       Unrealized Appreciation (Depreciation)     
                                                  ----------------------------------------------- 
                                                   Appreciation     Appreciation                  
                                          Year or (Depreciation)   (Depreciation)                 
                                          Period  End of Period  Beginning of Period    Change    
                                          ------- -------------- ------------------- ------------ 
                                                                                                  

Alger Small Capitalization Fund            2003    $(44,113,959)    $(67,412,861)    $ 23,298,902 
                                           2002     (67,412,861)     (55,736,476)     (11,676,385)

T Rowe Growth Fund                         2003      (1,478,120)     (14,537,560)      13,059,440 
                                           2002     (14,537,560)      (7,799,665)      (6,737,895)

T Rowe International Stock Fund            2003        (212,016)      (2,633,385)       2,421,369 
                                           2002      (2,633,385)      (1,896,818)        (736,567)

T Rowe Prime Reserve Fund                  2003               -                -                - 
                                           2002               -                -                - 

Janus Aspen Worldwide Growth               2003             953       (3,561,087)       3,562,040 
                                           2002      (3,561,087)      (2,723,972)        (837,115)

American Global Small Capitalization Fund  2003         134,325                -          134,325 
                                           2002               -                -                - 

American Growth Fund                       2003         611,512                -          611,512 
                                           2002               -                -                - 

American Growth & Income Fund              2003         404,263                -          404,263 
                                           2002               -                -                - 

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METLIFE INVESTORS USA SEPARATE ACCOUNT A  
FINANCIAL HIGHLIGHTS  

MetLife Investors USA Separate Account A sells a number of variable annuity     
products which have unique combinations of features and fees that are charged   
against the contract owner's account balance. Differences in the fee structures 
result in a variety of unit values, expense ratios, and total returns.          

The following table displays the financial information for each sub-account     
offered by the various products in the Separate Account in ranges of lowest to  
highest values.                                                                 

                                                        [Enlarge/Download Table]

                                                                         As of December 31, 2003         
                                                                -----------------------------------------
                                                                                  Unit                   
                                                                               Fair Value*     Net Assets
                                                                  Units    (lowest to highest)   (000)   
                                                                ---------- ------------------- ----------
                                                                                                         
Accumulation units:                                                                                      
  Met Investors Lord Abbett Growth & Income Portfolio           12,148,950  $22.54 to $72.18    $298,174 
  Met Investors Lord Abbett Growth & Income Portfolio B         14,629,558   42.21 to  43.21     626,036 
  Met Investors Lord Abbett Bond Debenture Portfolio               108,131    5.48 to  16.86         997 
  Met Investors Lord Abbett Bond Debenture Portfolio B          30,329,280   15.78 to  16.15     485,043 
  Met Investors JP Morgan Quality Bond Portfolio                 2,677,207   11.55 to  26.53      33,184 
  Met Investors Met/Putnam Research                              2,828,413    6.78 to   8.65      22,791 
  Met Investors Met/Putnam Research B                            8,913,001    7.57 to   7.74      68,342 
  Met Investors Oppenheimer Capital Appreciation Portfolio B    51,511,779    7.80 to   7.99     407,458 
  (a) Met Investors PIMCO Inflation Protected Bond Portfolio B  25,705,195   10.37 to  10.44     267,767 
  Met Investors PIMCO Money Market Portfolio B                  11,770,319    9.82 to  10.05     117,134 
  Met Investors Janus Aggressive Growth Portfolio B             26,535,225    6.58 to   6.73     176,919 
  Met Investors PIMCO Total Return Bond Portfolio                2,852,827    7.90 to  11.94      22,687 
  Met Investors PIMCO Total Return Bond Portfolio B             41,358,820   11.44 to  11.71     479,813 
  (a)Met Investors PIMCO Innovation Portfolio                      139,123    4.65 to   4.71         646 
  Met Investors PIMCO Innovation Portfolio B                     9,200,629    4.51 to   4.61      42,018 
  Met Investors T Rowe Price Mid Cap Growth Portfolio B         33,525,139    6.00 to   6.14     203,963 
  Met Investors MFS Research International Portfolio B          12,883,270    9.30 to   9.52     121,467 
  (a)Met Investors AIM Small Cap Growth Portfolio                   31,568   11.67 to  11.70         369 
  Met Investors AIM Small Cap Growth Portfolio B                12,475,776   11.38 to  11.63     143,948 
  Met Investors AIM Mid Cap Core Equity Portfolio B             12,288,221   11.80 to  12.05     146,954 
  Met Investors Harris Oakmark International Portfolio B        16,889,437   11.53 to  11.78     197,425 
  (a) Met Investors Third Avenue Small Cap Value Portfolio          50,110   11.52 to  11.54         577 
  Met Investors Third Avenue Small Cap Value Portfolio B        19,556,732   11.32 to  11.50     223,573 
  AIM Premier Equity Fund                                          427,127        3.59             1,531 
  AIM Capital Appreciation Fund                                    187,203        4.28               800 
  AIM International Growth Fund                                    157,713        4.20               663 
  AIM Balanced Fund                                                264,594        4.43             1,173 
  MFS Research Series                                               97,097        3.87               376 
  MFS Investors Trust Series                                        50,833        3.92               199 
  MFS New Discovery Series                                          58,708        5.95               349 
                                                        [Enlarge/Download Table]

                                                                       For the Year Ended December 31, 2003       
                                                                --------------------------------------------------
                                                                Investment       Expense              Total       
                                                                  Income        Ratio***           Return****     
                                                                 Ratio**   (lowest to highest) (lowest to highest)
                                                                ---------- ------------------- -------------------
                                                                                                                  
Accumulation units:                                                                                               
  Met Investors Lord Abbett Growth & Income Portfolio             1.15%      0.89% to 1.40%       29.24% to 29.90%
  Met Investors Lord Abbett Growth & Income Portfolio B           0.69%      1.30% to 2.35%       23.90% to 29.04%
  Met Investors Lord Abbett Bond Debenture Portfolio              3.64%      0.89% to 1.40%       17.86% to 18.46%
  Met Investors Lord Abbett Bond Debenture Portfolio B            2.75%      1.30% to 2.35%        8.88% to 17.62%
  Met Investors JP Morgan Quality Bond Portfolio                  3.73%      0.89% to 1.40%        2.55% to  3.07%
  Met Investors Met/Putnam Research                               0.03%      1.15% to 1.40%       22.88% to 23.19%
  Met Investors Met/Putnam Research B                             0.00%      1.30% to 2.35%       19.42% to 22.73%
  Met Investors Oppenheimer Capital Appreciation Portfolio B      0.00%      1.30% to 2.35%       20.90% to 26.87%
  (a) Met Investors PIMCO Inflation Protected Bond Portfolio B    0.42%      1.30% to 2.35%        3.70% to  4.43%
  Met Investors PIMCO Money Market Portfolio B                    0.41%      1.30% to 2.35%    (1.80%)  to (0.77%)
  Met Investors Janus Aggressive Growth Portfolio B               0.00%      1.30% to 2.35%       21.15% to 29.21%
  Met Investors PIMCO Total Return Bond Portfolio                 1.06%      0.89% to 1.40%        3.07% to  3.59%
  Met Investors PIMCO Total Return Bond Portfolio B               1.38%      1.30% to 2.35%      (0.06%) to  2.96%
  (a)Met Investors PIMCO Innovation Portfolio                     0.00%      0.89% to 1.35%       55.73% to 56.45%
  Met Investors PIMCO Innovation Portfolio B                      0.00%      1.30% to 2.35%       38.29% to 55.54%
  Met Investors T Rowe Price Mid Cap Growth Portfolio B           0.00%      1.30% to 2.35%       27.90% to 34.88%
  Met Investors MFS Research International Portfolio B            0.89%      1.30% to 2.35%       28.59% to 30.34%
  (a)Met Investors AIM Small Cap Growth Portfolio                 0.00%      1.25% to 1.35%       37.21% to 37.35%
  Met Investors AIM Small Cap Growth Portfolio B                  0.00%      1.30% to 2.35%       32.40% to 37.07%
  Met Investors AIM Mid Cap Core Equity Portfolio B               1.53%      1.30% to 2.35%       22.83% to 24.55%
  Met Investors Harris Oakmark International Portfolio B          1.81%      1.30% to 2.35%       31.97% to 34.23%
  (a) Met Investors Third Avenue Small Cap Value Portfolio        0.62%      1.25% to 1.35%       39.64% to 39.78%
  Met Investors Third Avenue Small Cap Value Portfolio B          0.48%      1.30% to 2.35%       34.67% to 39.60%
  AIM Premier Equity Fund                                         0.31%          1.40%               23.34%       
  AIM Capital Appreciation Fund                                   0.00%          1.40%               27.72%       
  AIM International Growth Fund                                   0.55%          1.40%               27.27%       
  AIM Balanced Fund                                               1.95%          1.40%               14.75%       
  MFS Research Series                                             0.67%          1.40%               22.97%       
  MFS Investors Trust Series                                      0.67%          1.40%               20.45%       
  MFS New Discovery Series                                        0.00%          1.40%               31.86%       

(a) For the period from May 1, 2003 to December 31, 2003.             

  * Unit fair value amounts are presented as a range of minimum to maximum
  values, with the lowest value representing the lowest unit fair value of
all products offered and the highest unit fair value representing the 
highest unit fair value of all products offered.                      

** These amounts represent the dividends, excluding distributions of  
capital gains, received by the Separate Account sub-accounts from the 
underlying mutual funds, net of management fees assessed by the fund  
 managers, divided by the average net assets. These ratios exclude those
expenses, such as mortality and expense charges, that result in direct
    reductions in the unit values. The recognition of investment income by the
    Separate Account sub-accounts is affected by the timing of the declaration
of dividends by the underlying funds in which the Separate Account    
sub-accounts invest. For periods in which a sub-account commenced     
operations, the investment income ratio is not annualized.            

*** These ratios represent the annualized contract expenses of the    
    Separate Account sub-accounts, consisting of mortality and expense charges
    and administrative expenses, for each period indicated. The ratios include
only those expenses that result in a direct reduction to unit values. 
    Charges made directly to contract owner accounts through the redemption of
units and expenses of the underlying fund have been excluded.         

  **** These amounts represent the total return for the periods indicated,
including changes in the value of the underlying funds, and reflect   
 expenses assessed through the reduction of unit values. These ratios do
not include any expenses assessed through the redemption of units.    
Investment options that include a parenthetical notation indicate the 
effective date of that investment option in the variable account. The 
    total return is calculated for each period indicated or from the effective
date through the end of the reporting period.                         

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A  
FINANCIAL HIGHLIGHTS  

                                                        [Enlarge/Download Table]

                                                             As of December 31, 2003         
                                                    -----------------------------------------
                                                                      Unit                   
                                                                   Fair Value*     Net Assets
                                                      Units    (lowest to highest)   (000)   
                                                    ---------- ------------------- ----------
                                                                                             
Accumulation units, continued:                                                               
  Oppenheimer Main Street Growth & Income Fund         398,851       $4.25          $  1,696 
  Oppenheimer Bond Fund                                 70,248        6.31               443 
  Oppenheimer Money Fund                               100,223        5.40               541 
  Oppenheimer Main Street Small Cap Growth Fund         25,050        7.28               182 
  Oppenheimer Strategic Bond Fund                       38,061        6.62               252 
  Fidelity Asset Manager Portfolio                  18,335,507    9.39 to  9.51      173,560 
  Fidelity Growth Portfolio                         22,744,437   11.77 to 11.87      269,260 
  Fidelity Contrafund Portfolio                     19,001,001    7.31 to 13.15      249,506 
  Fidelity Overseas Portfolio                        1,619,585    7.08 to  8.18       12,334 
  Fidelity Equity-Income Portfolio                   2,369,870       10.67            25,276 
  Fidelity Index 500 Portfolio                      12,981,916   12.66 to 12.78      164,912 
  Fidelity Money Market Portfolio                    3,919,391    6.76 to  7.08       26,673 
  Scudder I International Portfolio                  3,132,281    6.77 to  6.79       21,280 
  (a) MetLife Davis Venture Value Fund                  27,371   28.56 to 29.79          782 
  MetLife Davis Venture Value Fund E                39,412,532   10.56 to 10.80      421,803 
  (a) MetLife Harris Oakmark Focused Value Fund        115,746   31.46 to 33.04        3,642 
  MetLife Harris Oakmark Focused Value Fund B       29,518,227   13.70 to 14.02      409,860 
  MetLife Jennison Growth Portfolio B               18,942,898    9.62 to  9.77      184,013 
  (a) MetLife MFS Total Return Series                   19,756   38.75 to 41.84          766 
  MetLife Putnam International Stock Portfolio         102,075        3.58               365 
  MetLife Janus Mid Cap Portfolio                      472,999        1.92               909 
  MetLife Russell 2000 Index Portfolio                 229,747    5.15 to 13.94        2,228 
  MetLife Met/Putnam Voyager Portfolio A               199,325        2.10               419 
  (a) MetLife SSR Aurora Portfolio                     170,814   16.11 to 16.37        2,752 
  (a) MetLife SSR Bond Income Portfolio                 14,179   46.37 to 50.92          658 
  (a) MetLife SSR Large Cap Value Portfolio             19,981   10.62 to 10.64          212 
  (a) MetLife Stock Index Portfolio                  1,956,414   35.45 to 38.01       69,595 
  MetLife Stock Index Portfolio B                   13,065,732   10.26 to 10.48      135,881 
  (a) MetLife Alger Equity Growth                        8,406   24.33 to 24.55          205 
  (a) MetLife Lehman Brothers Aggregate Bond Index      55,030   12.76 to 12.82          702 
  (a) MetLife FI Mid Cap Opportunities                  71,708   11.41 to 11.50          819 
  (a) MetLife Harris Oakmark Large Cap Value           144,358   12.12 to 12.18        1,749 
                                                        [Enlarge/Download Table]

                                                           For the Year Ended December 31, 2003       
                                                    --------------------------------------------------
                                                    Investment       Expense              Total       
                                                      Income        Ratio***           Return****     
                                                     Ratio**   (lowest to highest) (lowest to highest)
                                                    ---------- ------------------- -------------------
                                                                                                      
Accumulation units, continued:                                                                        
  Oppenheimer Main Street Growth & Income Fund        0.97%          1.40%               24.96%       
  Oppenheimer Bond Fund                               5.47%          1.40%                5.29%       
  Oppenheimer Money Fund                              0.95%          1.40%               (0.61%)      
  Oppenheimer Main Street Small Cap Growth Fund       0.00%          1.40%               42.36%       
  Oppenheimer Strategic Bond Fund                     6.49%          1.40%               16.43%       
  Fidelity Asset Manager Portfolio                    3.56%      0.89% to 1.40%      16.34% to 16.93% 
  Fidelity Growth Portfolio                           0.27%      0.89% to 1.40%      31.00% to 31.67% 
  Fidelity Contrafund Portfolio                       0.46%      0.89% to 1.40%      26.68% to 27.33% 
  Fidelity Overseas Portfolio                         0.87%      1.15% to 1.40%      41.38% to 41.73% 
  Fidelity Equity-Income Portfolio                    1.89%          1.40%               28.52%       
  Fidelity Index 500 Portfolio                        1.67%      0.89% to 1.40%      26.63% to 27.27% 
  Fidelity Money Market Portfolio                     1.08%      0.89% to 1.40%     (0.40%) to  0.10% 
  Scudder I International Portfolio                   0.76%      1.35% to 1.40%      25.98% to 26.04% 
  (a) MetLife Davis Venture Value Fund                0.00%      0.89% to 1.35%      29.12% to 29.71% 
  MetLife Davis Venture Value Fund E                  0.27%      1.30% to 2.35%      25.13% to 29.05% 
  (a) MetLife Harris Oakmark Focused Value Fund       0.00%      0.89% to 1.35%      30.88% to 31.48% 
  MetLife Harris Oakmark Focused Value Fund B         0.05%      1.30% to 2.35%      26.99% to 30.62% 
  MetLife Jennison Growth Portfolio B                 0.14%      1.30% to 2.35%      20.13% to 28.02% 
  (a) MetLife MFS Total Return Series                 0.00%      0.89% to 1.35%      15.43% to 15.97% 
  MetLife Putnam International Stock Portfolio        0.63%          1.40%               26.26%       
  MetLife Janus Mid Cap Portfolio                     0.00%          1.40%               32.71%       
  MetLife Russell 2000 Index Portfolio                0.26%      0.89% to 1.40%      44.04% to 44.77% 
  MetLife Met/Putnam Voyager Portfolio A              0.00%          1.40%               24.16%       
  (a) MetLife SSR Aurora Portfolio                    0.00%      0.89% to 1.35%      48.13% to 48.81% 
  (a) MetLife SSR Bond Income Portfolio               0.00%      0.89% to 1.35%       4.43% to  4.92% 
  (a) MetLife SSR Large Cap Value Portfolio           1.28%      1.25% to 1.35%      33.86% to 33.99% 
  (a) MetLife Stock Index Portfolio                   0.00%      0.89% to 1.40%      26.44% to 27.07% 
  MetLife Stock Index Portfolio B                     1.26%      1.30% to 2.35%      20.39% to 26.22% 
  (a) MetLife Alger Equity Growth                     0.00%      1.25% to 1.35%      33.34% to 33.47% 
  (a) MetLife Lehman Brothers Aggregate Bond Index    0.00%      1.25% to 1.35%       2.24% to  2.35% 
  (a) MetLife FI Mid Cap Opportunities                0.00%      0.89% to 1.35%      40.62% to 41.26% 
  (a) MetLife Harris Oakmark Large Cap Value          0.00%      1.25% to 1.35%      23.81% to 23.94% 

(a) For the period from May 1, 2003 to December 31, 2003.             

  * Unit fair value amounts are presented as a range of minimum to maximum
  values, with the lowest value representing the lowest unit fair value of
all products offered and the highest unit fair value representing the 
highest unit fair value of all products offered.                      

** These amounts represent the dividends, excluding distributions of  
capital gains, received by the Separate Account sub-accounts from the 
underlying mutual funds, net of management fees assessed by the fund  
 managers, divided by the average net assets. These ratios exclude those
expenses, such as mortality and expense charges, that result in direct
    reductions in the unit values. The recognition of investment income by the
    Separate Account sub-accounts is affected by the timing of the declaration
of dividends by the underlying funds in which the Separate Account    
sub-accounts invest. For periods in which a sub-account commenced     
operations, the investment income ratio is not annualized.            

*** These ratios represent the annualized contract expenses of the    
    Separate Account sub-accounts, consisting of mortality and expense charges
    and administrative expenses, for each period indicated. The ratios include
only those expenses that result in a direct reduction to unit values. 
    Charges made directly to contract owner accounts through the redemption of
units and expenses of the underlying fund have been excluded.         

  **** These amounts represent the total return for the periods indicated,
including changes in the value of the underlying funds, and reflect   
 expenses assessed through the reduction of unit values. These ratios do
not include any expenses assessed through the redemption of units.    
Investment options that include a parenthetical notation indicate the 
effective date of that investment option in the variable account. The 
    total return is calculated for each period indicated or from the effective
date through the end of the reporting period.                         

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A  
FINANCIAL HIGHLIGHTS  

                                                        [Enlarge/Download Table]

                                                                      As of December 31, 2003         
                                                              ----------------------------------------
                                                                               Unit                   
                                                                            Fair Value*     Net Assets
                                                                Units   (lowest to highest)   (000)   
                                                              --------- ------------------- ----------
                                                                                                      
Accumulation units, continued:                                                                        
  (a) MetLife Morgan Stanley EAFE Index                         110,435  $  9.67 to $ 9.91   $  1,069 
  (a) MetLife Mid Cap Stock Index                               128,276    11.57 to  11.75      1,484 
  Van Kampen Emerging Growth Fund                               131,352        4.03               529 
  Van Kampen Enterprise Fund                                     50,200        3.38               170 
  Van Kampen Growth & Income Fund                                61,622        5.11               315 
  Federated American Leaders II                                 140,461        4.61               647 
  Federated High Income Bond Fund II                             48,364        5.43               263 
  Federated Growth Strategic Fund II                             47,399        4.26               202 
  Federated Equity Income Fund II                                81,743        4.11               336 
  Neuberger Berman Genesis Trust                                  2,060        8.70                18 
  Alger American Small Capitalization Fund                    9,758,550      6.08 to  6.10     59,470 
  T Rowe Growth Fund                                            171,175        62.15           10,638 
  T Rowe International Stock Fund                               117,827        8.98             1,058 
  T Rowe Prime Reserve Fund                                      87,209        16.48            1,437 
  Janus Aspen Worldwide Growth                                    1,585        6.06                10 
  (a) American Global Small Capitalization Fund                  77,922    16.42 to  16.85      1,280 
  (a) American Growth Fund                                       59,754   116.56 to 127.74      6,971 
  (a) American Growth & Income Fund                              53,632    90.71 to  99.40      4,871 
Annuitization units:                                                                                  
  Met Investors Lord Abbett Growth & Income Portfolio B           1,654        39.68               66 
  Met Investors Lord Abbett Bond Debenture Portfolio B            2,084        14.83               31 
  Met Investors Met/Putnam Research Portfolio B                  19,926        7.10               141 
  Met Investors Oppenheimer Capital Appreciation Portfolio B      2,224        7.31                16 
  Met Investors PIMCO Inflation Protected Bond Portfolio B        2,717        10.23               28 
  Met Investors PIMCO Money Market Portfolio B                   16,666        9.20               153 
  Met Investors PIMCO Total Return Bond Portfolio B              12,808        10.73              137 
  Met Investors T Rowe Price Mid Cap Growth Portfolio B           1,752        5.62                10 
  Met Investors MFS Research International Portfolio B            3,885        8.72                34 
  Met Investors AIM Mid Cap Core Equity Portfolio B                 628        11.26                7 
  Met Investors Third Avenue Small Cap Value Portfolio B            954        10.93               10 
  MetLife Davis Venture Value Fund E                             17,548        9.92               174 
  MetLife Harris Oakmark Focused Value Fund B                     6,375        12.88               82 
  MetLife Jennison Growth Portfolio B                               993         9.29                9 
                                                        [Enlarge/Download Table]

                                                                     For the Year Ended December 31, 2003       
                                                              --------------------------------------------------
                                                              Investment       Expense              Total       
                                                                Income        Ratio***           Return****     
                                                               Ratio**   (lowest to highest) (lowest to highest)
                                                              ---------- ------------------- -------------------
                                                                                                                
Accumulation units, continued:                                                                                  
  (a) MetLife Morgan Stanley EAFE Index                         0.00%      0.89% to 1.35%     35.79% to 36.42%  
  (a) MetLife Mid Cap Stock Index                               0.00%      0.89% to 1.35%     33.16% to 33.77%  
  Van Kampen Emerging Growth Fund                               0.00%          1.40%               25.58%       
  Van Kampen Enterprise Fund                                    0.52%          1.40%               24.13%       
  Van Kampen Growth & Income Fund                               0.87%          1.40%               26.26%       
  Federated American Leaders II                                 1.69%          1.40%               25.92%       
  Federated High Income Bond Fund II                            7.69%          1.40%               20.52%       
  Federated Growth Strategic Fund II                            0.00%          1.40%               38.13%       
  Federated Equity Income Fund II                               1.93%          1.40%               25.51%       
  Neuberger Berman Genesis Trust                                0.00%          0.89%               30.49%       
  Alger American Small Capitalization Fund                      0.00%      1.25% to 1.40%     40.37% to 40.58%  
  T Rowe Growth Fund                                            0.16%          0.89%               30.06%       
  T Rowe International Stock Fund                               0.74%          0.89%               30.12%       
  T Rowe Prime Reserve Fund                                     0.69%          0.89%              (0.30%)       
  Janus Aspen Worldwide Growth                                  0.01%          0.89%               22.89%       
  (a) American Global Small Capitalization Fund                 0.07%      0.89% to 1.35%     51.47% to 52.17%  
  (a) American Growth Fund                                      0.16%      0.89% to 1.35%     34.97% to 35.60%  
  (a) American Growth & Income Fund                             1.38%      0.89% to 1.35%     30.65% to 31.25%  
Annuitization units:                                                                                            
  Met Investors Lord Abbett Growth & Income Portfolio B         0.69%          1.40%               25.16%       
  Met Investors Lord Abbett Bond Debenture Portfolio B          2.75%          1.40%               14.08%       
  Met Investors Met/Putnam Research Portfolio B                 0.00%          1.40%               19.04%       
  Met Investors Oppenheimer Capital Appreciation Portfolio B    0.00%          1.40%               23.05%       
  Met Investors PIMCO Inflation Protected Bond Portfolio B      0.42%          1.40%               2.32%        
  Met Investors PIMCO Money Market Portfolio B                  0.41%          1.55%              (3.99%)       
  Met Investors PIMCO Total Return Bond Portfolio B             1.38%          1.40%              (0.14%)       
  Met Investors T Rowe Price Mid Cap Growth Portfolio B         0.00%          1.40%               30.82%       
  Met Investors MFS Research International Portfolio B          0.89%          1.40%               26.42%       
  Met Investors AIM Mid Cap Core Equity Portfolio B             1.53%          1.40%               20.80%       
  Met Investors Third Avenue Small Cap Value Portfolio B        0.48%          1.40%               35.39%       
  MetLife Davis Venture Value Fund E                            0.27%          1.40%              25.16 %       
  MetLife Harris Oakmark Focused Value Fund B                   0.05%          1.40%               26.69%       
  MetLife Jennison Growth Portfolio B                           0.14%          1.40%               24.16%       

(a) For the period from May 1, 2003 to December 31, 2003.             

  * Unit fair value amounts are presented as a range of minimum to maximum
  values, with the lowest value representing the lowest unit fair value of
all products offered and the highest unit fair value representing the 
highest unit fair value of all products offered.                      

** These amounts represent the dividends, excluding distributions of  
capital gains, received by the Separate Account sub-accounts from the 
underlying mutual funds, net of management fees assessed by the fund  
 managers, divided by the average net assets. These ratios exclude those
expenses, such as mortality and expense charges, that result in direct
    reductions in the unit values. The recognition of investment income by the
    Separate Account sub-accounts is affected by the timing of the declaration
of dividends by the underlying funds in which the Separate Account    
sub-accounts invest. For periods in which a sub-account commenced     
operations, the investment income ratio is not annualized.            

*** These ratios represent the annualized contract expenses of the    
    Separate Account sub-accounts, consisting of mortality and expense charges
    and administrative expenses, for each period indicated. The ratios include
only those expenses that result in a direct reduction to unit values. 
    Charges made directly to contract owner accounts through the redemption of
units and expenses of the underlying fund have been excluded.         

  **** These amounts represent the total return for the periods indicated,
including changes in the value of the underlying funds, and reflect   
 expenses assessed through the reduction of unit values. These ratios do
not include any expenses assessed through the redemption of units.    
Investment options that include a parenthetical notation indicate the 
effective date of that investment option in the variable account. The 
    total return is calculated for each period indicated or from the effective
date through the end of the reporting period.                         

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A  
FINANCIAL HIGHLIGHTS  

MetLife Investors USA Separate Account A sells a number of variable annuity     
products which have unique combinations of features and fees that are charged   
against the contract owner's account balance. Differences in the fee structures 
result in a variety of unit values, expense ratios, and total returns.          

The following table displays the financial information for each sub-account     
offered by the various products in the Separate Account in ranges of lowest to  
highest values.                                                                 

                                                        [Enlarge/Download Table]

                                                                       As of December 31, 2002         
                                                              -----------------------------------------
                                                                                Unit                   
                                                                             Fair Value*     Net Assets
                                                                Units    (lowest to highest)   (000)   
                                                              ---------- ------------------- ----------
                                                                                                       
Accumulation units:                                                                                    
  Met Investors Lord Abbett Growth & Income Portfolio         12,846,775  $17.44 to $55.57    $256,901 
  Met Investors Lord Abbett Growth & Income Portfolio B        4,763,078   33.02 to  33.48     158,469 
  (b) Met Investors Lord Abbett Bond Debenture Portfolio          23,392        4.65               109 
  Met Investors Lord Abbett Bond Debenture Portfolio B         8,449,518   13.54 to  13.73     115,255 
  Met Investors JP Morgan Quality Bond Portfolio               3,059,939   11.25 to  25.74      38,254 
  Met Investors Met/Putnam Research Portfolio                  3,520,815    5.52 to   7.02      23,034 
  Met Investors Met/Putnam Research Portfolio B                4,317,303    6.22 to   6.31      27,062 
  Met Investors Oppenheimer Capital Appreciation Portfolio B  15,642,954    6.21 to   6.30      97,837 
  Met Investors PIMCO Money Market Portfolio B                 8,981,636   10.00 to  10.14      90,464 
  Met Investors Janus Aggressive Growth Portfolio B            7,128,991    5.14 to   5.21      36,902 
  Met Investors PIMCO Total Return Bond Portfolio              3,311,248    7.66 to   7.73      25,487 
  Met Investors PIMCO Total Return Bond Portfolio B           21,084,805   11.22 to  11.38     238,271 
  Met Investors PIMCO Innovation Portfolio B                   3,459,215    2.92 to   2.97      10,191 
  Met Investors T Rowe Price Mid Cap Growth Portfolio B        9,490,409    4.49 to   4.55      42,935 
  Met Investors MFS Research International Portfolio B         6,394,788    7.20 to   7.30      46,398 
  Met Investors AIM Small Cap Growth Portfolio B               4,064,765    8.38 to   8.48      34,329 
  Met Investors AIM Mid Cap Core Equity Portfolio B            2,416,396    9.57 to   9.68      23,277 
  Met Investors Harris Oakmark International Portfolio B       1,441,751    8.74 to   8.84      12,689 
  (c) Met Investors Third Avenue Small Cap Value Portfolio B   3,106,789    8.19 to   8.24      25,529 
  AIM Premier Equity Fund                                        467,409        2.91             1,359 
  AIM Capital Appreciation Fund                                  213,116        3.35               713 
  AIM International Growth Fund                                  168,594        3.30               557 
  AIM Balanced Fund                                              298,328        3.86             1,152 
  MFS Research Series                                            114,262        3.15               360 
  MFS Investors Trust Series                                      54,292        3.26               177 
  MFS New Discovery Series                                        75,459        4.51               340 
  Oppenheimer Main Street Growth & Income Fund                   436,506        3.40             1,485 
                                                        [Enlarge/Download Table]

                                                                     For the Year ended December 31, 2002        
                                                              ---------------------------------------------------
                                                              Investment       Expense              Total        
                                                                Income        Ratio***           Return****      
                                                               Ratio**   (lowest to highest) (lowest to highest) 
                                                              ---------- ------------------- --------------------
                                                                                                                 
Accumulation units:                                                                                              
  Met Investors Lord Abbett Growth & Income Portfolio           0.91%      0.89% to 1.40%    (19.09%) to (18.67%)
  Met Investors Lord Abbett Growth & Income Portfolio B         1.77%      1.30% to 2.25%    (19.94%) to (19.18%)
  (b) Met Investors Lord Abbett Bond Debenture Portfolio        0.00%          1.40%               (1.77%)       
  Met Investors Lord Abbett Bond Debenture Portfolio B          4.91%      1.30% to 2.25%     (2.79%) to  (1.86%)
  Met Investors JP Morgan Quality Bond Portfolio                5.20%      0.89% to 1.40%       7.44% to   7.99% 
  Met Investors Met/Putnam Research Portfolio                   0.41%      1.15% to 1.40%    (21.71%) to (21.52%)
  Met Investors Met/Putnam Research Portfolio B                 0.69%      1.30% to 2.25%    (22.58%) to (21.84%)
  Met Investors Oppenheimer Capital Appreciation Portfolio B    0.01%      1.30% to 2.25%    (26.41%) to (25.71%)
  Met Investors PIMCO Money Market Portfolio B                  1.02%      1.30% to 2.25%     (1.15%) to  (0.21%)
  Met Investors Janus Aggressive Growth Portfolio B             0.01%      1.30% to 2.25%    (29.44%) to (28.77%)
  Met Investors PIMCO Total Return Bond Portfolio               0.00%      1.15% to 1.40%       8.04% to   8.31% 
  Met Investors PIMCO Total Return Bond Portfolio B             0.00%      1.30% to 2.25%       6.86% to   7.88% 
  Met Investors PIMCO Innovation Portfolio B                    0.00%      1.30% to 2.25%    (51.83%) to (51.37%)
  Met Investors T Rowe Price Mid Cap Growth Portfolio B         0.00%      1.30% to 2.25%    (45.29%) to (44.76%)
  Met Investors MFS Research International Portfolio B          0.24%      1.30% to 2.25%    (13.77%) to (12.94%)
  Met Investors AIM Small Cap Growth Portfolio B                0.00%      1.30% to 2.25%    (29.12%) to (28.44%)
  Met Investors AIM Mid Cap Core Equity Portfolio B             0.02%      1.30% to 2.25%    (12.80%) to (11.97%)
  Met Investors Harris Oakmark International Portfolio B        0.24%      1.30% to 2.25%    (19.92%) to (19.15%)
  (c) Met Investors Third Avenue Small Cap Value Portfolio B    0.39%      1.30% to 2.25%    (18.14%) to (17.62%)
  AIM Premier Equity Fund                                       0.31%          1.40%               (31.23%)      
  AIM Capital Appreciation Fund                                 0.00%          1.40%               (25.41%)      
  AIM International Growth Fund                                 0.55%          1.40%               (16.85%)      
  AIM Balanced Fund                                             2.34%          1.40%               (18.25%)      
  MFS Research Series                                           0.28%          1.40%               (25.59%)      
  MFS Investors Trust Series                                    0.56%          1.40%               (22.06%)      
  MFS New Discovery Series                                      0.00%          1.40%               (32.58%)      
  Oppenheimer Main Street Growth & Income Fund                  0.81%          1.40%               (19.93%)      

(b) For the period from April 26, 2002 to December 31, 2002.          
(c) For the period from May 1, 2002 to December 31, 2002.             

  * Unit fair value amounts are presented as a range of minimum to maximum
  values, with the lowest value representing the lowest unit fair value of
all products offered and the highest unit fair value representing the 
highest unit fair value of all products offered.                      

** These amounts represent the dividends, excluding distributions of  
capital gains, received by the Separate Account sub-accounts from the 
underlying mutual funds, net of management fees assessed by the fund  
 managers, divided by the average net assets. These ratios exclude those
expenses, such as mortality and expense charges, that result in direct
    reductions in the unit values. The recognition of investment income by the
    Separate Account sub-accounts is affected by the timing of the declaration
of dividends by the underlying funds in which the Separate Account    
sub-accounts invest. For periods in which a sub-account commenced     
operations, the investment income ratio is not annualized.            

*** These ratios represent the annualized contract expenses of the    
    Separate Account sub-accounts, consisting of mortality and expense charges
    and administrative expenses, for each period indicated. The ratios include
only those expenses that result in a direct reduction to unit values. 
    Charges made directly to contract owner accounts through the redemption of
units and expenses of the underlying fund have been excluded.         

  **** These amounts represent the total return for the periods indicated,
including changes in the value of the underlying funds, and reflect   
 expenses assessed through the reduction of unit values. These ratios do
not include any expenses assessed through the redemption of units.    
Investment options that include a parenthetical notation indicate the 
effective date of that investment option in the variable account. The 
    total return is calculated for each period indicated or from the effective
date through the end of the reporting period.                         

***** This information is not available.                              

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A  
FINANCIAL HIGHLIGHTS  

                                                        [Enlarge/Download Table]

                                                          As of December 31, 2002         
                                                 -----------------------------------------
                                                                   Unit                   
                                                                Fair Value*     Net Assets
                                                   Units    (lowest to highest)   (000)   
                                                 ---------- ------------------- ----------
                                                                                          
Accumulation units, continued:                                                            
  Oppenheimer Bond Fund                              70,085       $5.99          $    420 
  Oppenheimer Money Fund                            167,544        5.43               910 
  Oppenheimer Main Street Small Cap Growth Fund      24,139        5.11               123 
  Oppenheimer Strategic Bond Fund                    43,633        5.69               248 
  Fidelity Asset Manager Portfolio               20,018,998    8.07 to  8.16      162,779 
  Fidelity Growth Portfolio                      24,650,187    8.94 to  9.05      222,487 
  Fidelity Contrafund Portfolio                  19,592,405    5.74 to 10.37      200,853 
  Fidelity Overseas Portfolio                     1,914,131    5.00 to  5.78       10,274 
  Fidelity Equity-Income Portfolio                2,727,566        8.30            22,635 
  Fidelity Index 500 Portfolio                   20,168,826   10.00 to 10.06      202,227 
 Fidelity Money Market Portfolio                  4,525,655    6.78 to  7.07       30,913 
 Scudder I International Portfolio                2,973,433    5.38 to  5.39       16,027 
 MetLife Davis Venture Value Fund E              15,486,565    8.26 to  8.37      128,845 
 MetLife Harris Oakmark Focused Value Fund B     10,685,241   10.59 to 10.73      113,939 
 (c) MetLife Jennison Growth Portfolio B          5,519,181    7.58 to  7.63       42,026 
 MetLife Putnam International Stock Portfolio        97,675        2.83               277 
 MetLife Janus Mid Cap Portfolio                    486,103        1.45               704 
 MetLife Russell 2000 Index Portfolio               105,781        3.58               378 
 MetLife Met/Putnam Voyager Portfolio A             192,732        1.69               326 
 MetLife Stock Index Portfolio B                  5,021,812    8.20 to  8.30       41,490 
 Van Kampen Emerging Growth Fund                    142,960        3.21               459 
 Van Kampen Enterprise Fund                          56,973        2.73               155 
 (c) Van Kampen Growth & Income Fund                 54,474        4.05               221 
 Federated American Leaders II                      162,190        3.66               594 
 Federated High Income Bond Fund II                  54,149        4.51               244 
 Federated Growth Strategic Fund II                  51,227        3.09               158 
 Federated Equity Income Fund II                     91,827        3.28               301 
 Neuberger Genesis Trust                            479,091        6.66             3,193 
 Alger Small Capitalization Fund                  9,818,127    4.33 to  4.34       42,604 
 T Rowe Price Growth Fund                           585,362       47.78            27,969 
 T Rowe Price International Fund                    634,123        6.90             4,375 
 T Rowe Price Prime Reserve Fund                    111,278       16.52             1,839 
 Janus Aspen Worldwide Growth                     1,049,176        4.93             5,172 
Annuitization units:                                                                      
 Met Investors PIMCO Innovation Portfolio B           1,763       $2.80          $      5 
                                                        [Enlarge/Download Table]

                                                         For the Year ended December 31, 2002        
                                                 ----------------------------------------------------
                                                 Investment       Expense               Total        
                                                   Income        Ratio***            Return****      
                                                  Ratio**   (lowest to highest)  (lowest to highest) 
                                                 ---------- ------------------- ---------------------
                                                                                                     
Accumulation units, continued:                                                                       
  Oppenheimer Bond Fund                             7.68%         1.40%                 7.56%        
  Oppenheimer Money Fund                            1.47%         1.40%                 *****        
  Oppenheimer Main Street Small Cap Growth Fund     0.00%         1.40%               (16.92%)       
  Oppenheimer Strategic Bond Fund                   8.38%         1.40%                 5.95%        
  Fidelity Asset Manager Portfolio                  4.00%     0.89% to 1.40%    (10.00%) to   (9.54%)
  Fidelity Growth Portfolio                         0.25%     0.89% to 1.40%    (31.08%) to  (30.73%)
  Fidelity Contrafund Portfolio                     0.82%     0.89% to 1.40%    (10.61%) to  (10.15%)
  Fidelity Overseas Portfolio                       0.84%     1.15% to 1.40%    (21.39%) to  (21.19%)
  Fidelity Equity-Income Portfolio                  1.84%         1.40%               (18.10%)       
  Fidelity Index 500 Portfolio                      1.31%     0.89% to 1.40%    (23.33%) to  (22.94%)
 Fidelity Money Market Portfolio                    1.70%     0.89% to 1.40%           0.28% to 0.79%
 Scudder I International Portfolio                  0.84%     1.35% to 1.40%    (19.50%) to  (19.46%)
 MetLife Davis Venture Value Fund E                 0.65%     1.30% to 2.25%    (18.41%) to  (17.63%)
 MetLife Harris Oakmark Focused Value Fund B        0.12%     1.30% to 2.25%    (10.33%) to  (11.09%)
 (c) MetLife Jennison Growth Portfolio B            0.00%     1.30% to 2.25%    (24.15%) to  (23.67%)
 MetLife Putnam International Stock Portfolio       0.88%         1.40%               (18.64%)       
 MetLife Janus Mid Cap Portfolio                    0.00%         1.40%               (29.98%)       
 MetLife Russell 2000 Index Portfolio               0.61%         1.40%               (21.57%)       
 MetLife Met/Putnam Voyager Portfolio A             0.00%         1.40%               (29.90%)       
 MetLife Stock Index Portfolio B                    0.56%     1.30% to 2.25%     (24.24%) to (23.52%)
 Van Kampen Emerging Growth Fund                    0.37%         1.40%               (33.43%)       
 Van Kampen Enterprise Fund                         0.50%         1.40%               (30.31%)       
 (c) Van Kampen Growth & Income Fund                0.00%         1.40%               (15.69%)       
 Federated American Leaders II                      1.26%         1.40%               (21.33%)       
 Federated High Income Bond Fund II                10.55%         1.40%                (0.02%)       
 Federated Growth Strategic Fund II                 0.00%         1.40%               (27.37%)       
 Federated Equity Income Fund II                    2.13%         1.40%               (21.84%)       
 Neuberger Genesis Trust                            0.00%         0.89%                (3.85%)       
 Alger Small Capitalization Fund                    0.00%     1.25% to 1.40%     (27.25%) to (27.21%)
 T Rowe Price Growth Fund                           0.18%         0.89%               (23.68%)       
 T Rowe Price International Fund                    1.07%         0.89%               (18.91%)       
 T Rowe Price Prime Reserve Fund                    1.39%         0.89%                 *****        
 Janus Aspen Worldwide Growth                       0.86%         0.89%               (26.16%)       
Annuitization units:                                                                                 
 Met Investors PIMCO Innovation Portfolio B         0.00%         1.55%               (51.49%)       

(c) For the period from May 1, 2002 to December 31, 2002.             

  * Unit fair value amounts are presented as a range of minimum to maximum
  values, with the lowest value representing the lowest unit fair value of
all products offered and the highest unit fair value representing the 
highest unit fair value of all products offered.                      

** These amounts represent the dividends, excluding distributions of  
capital gains, received by the Separate Account sub-accounts from the 
underlying mutual funds, net of management fees assessed by the fund  
 managers, divided by the average net assets. These ratios exclude those
expenses, such as mortality and expense charges, that result in direct
    reductions in the unit values. The recognition of investment income by the
    Separate Account sub-accounts is affected by the timing of the declaration
of dividends by the underlying funds in which the Separate Account    
sub-accounts invest. For periods in which a sub-account commenced     
operations, the investment income ratio is not annualized.            

*** These ratios represent the annualized contract expenses of the    
    Separate Account sub-accounts, consisting of mortality and expense charges
    and administrative expenses, for each period indicated. The ratios include
only those expenses that result in a direct reduction to unit values. 
    Charges made directly to contract owner accounts through the redemption of
units and expenses of the underlying fund have been excluded.         

  **** These amounts represent the total return for the periods indicated,
including changes in the value of the underlying funds, and reflect   
 expenses assessed through the reduction of unit values. These ratios do
not include any expenses assessed through the redemption of units.    
Investment options that include a parenthetical notation indicate the 
effective date of that investment option in the variable account. The 
    total return is calculated for each period indicated or from the effective
date through the end of the reporting period.                         

***** This information is not available.                              

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A  
FINANCIAL HIGHLIGHTS  

MetLife Investors USA Separate Account A sells a number of variable annuity     
products which have unique combinations of features and fees that are charged   
against the contract owner's account balance. Differences in the fee structures 
result in a variety of unit values, expense ratios, and total returns.          

The following table displays the financial information for each sub-account     
offered by the various products in the Separate Account in ranges of lowest to  
highest values.                                                                 

                                                        [Enlarge/Download Table]

                                                                           As of December 31, 2001         
                                                                  -----------------------------------------
                                                                                    Unit                   
                                                                                 Fair Value*     Net Assets
                                                                    Units    (lowest to highest)   (000)   
                                                                  ---------- ------------------- ----------
                                                                                                           
Accumulation units:                                                                                        
  (g) Met Investors Lord Abbett Growth & Income Portfolio         13,056,744  $21.56 to $68.33    $325,654 
  (f) Met Investors Lord Abbett Growth & Income Portfolio B          829,894   41.18 to  41.43      34,277 
  (f) Met Investors Lord Abbett Bond Debenture Portfolio B           949,659   13.91 to  13.99      13,246 
  Met Investors JP Morgan Quality Bond Portfolio                   2,400,419   10.47 to  23.83      27,978 
  (h) Met Investors Met Putnam Research Portfolio                  4,271,829    7.05 to   8.94      35,502 
  (f) Met Investors Met Putnam Research Portfolio B                1,148,099    8.03 to   8.07       9,240 
  (f) Met Investors Oppenheimer Capital Appreciation Portfolio B   2,574,330    8.42 to   8.47      21,746 
  (f) Met Investors PIMCO Money Market Portfolio B                 2,040,930   10.10 to  10.16      20,681 
  (f) Met Investors Janus Aggressive Growth Portfolio B            1,408,153    7.27 to   7.31      10,268 
  (j) Met Investors PIMCO Total Return Bond Portfolio              3,960,781    7.09 to   7.14      28,189 
  (f) Met Investors PIMCO Total Return Bond Portfolio B            2,425,689   10.48 to  10.54      25,502 
  (f) Met Investors PIMCO Innovation Portfolio B                     719,543    6.06 to   6.10       4,375 
  (f) Met Investors T Rowe Price Mid Cap Growth Portfolio B        1,668,902    8.19 to   8.24      13,714 
  (f) Met Investors MFS Research International Portfolio B           916,898    8.34 to   8.39       7,667 
  (i) Met Investors AIM Small Cap Growth Portfolio B                 119,269   11.83 to  11.86       1,413 
  (i) Met Investors AIM Mid Cap Core Equity Portfolio B               91,975   10.97 to  10.99       1,010 
  (i) Met Investors Harris Oakmark International Portfolio B          20,012   10.91 to  10.94         219 
  AIM Premier Equity Fund                                            544,055        4.23             2,300 
  AIM Capital Appreciation Fund                                      236,958        4.49             1,063 
  AIM International Growth Fund                                      189,032        3.97               750 
  AIM Balanced Fund                                                  334,293        4.73             1,580 
  MFS Research Series                                                126,396        4.23               535 
  MFS Investors Trust Series                                          60,869        4.18               254 
  MFS New Discovery Series                                            90,551        6.69               606 
  Oppenheimer Main Street Growth & Income Fund                       552,681        4.25             2,349 
  Oppenheimer Bond Fund                                               66,734        5.57               372 
                                                        [Enlarge/Download Table]

                                                                         For the Year ended December 31, 2001        
                                                                  ---------------------------------------------------
                                                                  Investment       Expense              Total        
                                                                    Income        Ratio***           Return****      
                                                                   Ratio**   (lowest to highest) (lowest to highest) 
                                                                  ---------- ------------------- --------------------
                                                                                                                     
Accumulation units:                                                                                                  
  (g) Met Investors Lord Abbett Growth & Income Portfolio            0.95%     0.89% to 1.40%     (7.24%) to (6.56%) 
  (f) Met Investors Lord Abbett Growth & Income Portfolio B          0.17%     1.30% to 2.25%     (8.09%) to (7.21%) 
  (f) Met Investors Lord Abbett Bond Debenture Portfolio B           1.47%     1.30% to 2.25%       1.17% to 2.14%   
  Met Investors JP Morgan Quality Bond Portfolio                     4.86%     0.89% to 1.40%       5.33% to 6.10%   
  (h) Met Investors Met Putnam Research Portfolio                    0.07%     1.15% to 1.40%       7.00% to 7.00%   
  (f) Met Investors Met Putnam Research Portfolio B                  0.44%     1.30% to 2.25%     (1.54%) to (0.81%) 
  (f) Met Investors Oppenheimer Capital Appreciation Portfolio B     0.07%     1.30% to 2.25%     (1.73%) to (1.00%) 
  (f) Met Investors PIMCO Money Market Portfolio B                   1.02%     1.30% to 2.25%       0.66% to 1.29%   
  (f) Met Investors Janus Aggressive Growth Portfolio B              0.00%     1.30% to 2.25%     (9.72%) to (9.05%) 
  (j) Met Investors PIMCO Total Return Bond Portfolio                0.88%     1.15% to 1.40%     (0.31%) to (0.25%) 
  (f) Met Investors PIMCO Total Return Bond Portfolio B              2.47%     1.30% to 2.25%       3.00% to 3.77%   
  (f) Met Investors PIMCO Innovation Portfolio B                     0.00%     1.30% to 2.25%    (16.33%) to (15.70%)
  (f) Met Investors T Rowe Price Mid Cap Growth Portfolio B          0.00%     1.30% to 2.25%       1.03% to 1.78%   
  (f) Met Investors MFS Research International Portfolio B           0.13%     1.30% to 2.25%     (5.45%) to (4.75%) 
  (i) Met Investors AIM Small Cap Growth Portfolio B                 0.00%     1.30% to 2.25%      18.30% to 18.55%  
  (i) Met Investors AIM Mid Cap Core Equity Portfolio B              0.05%     1.30% to 2.25%       9.70% to 9.94%   
  (i) Met Investors Harris Oakmark International Portfolio B         0.08%     1.30% to 2.25%       9.15% to 9.38%   
  AIM Premier Equity Fund                                            0.14%         1.40%               (11.93%)      
  AIM Capital Appreciation Fund                                      0.00%         1.40%               (21.67%)      
  AIM International Growth Fund                                      0.34%         1.40%               (21.70%)      
  AIM Balanced Fund                                                  1.91%         1.40%               (11.33%)      
  MFS Research Series                                                1.16%         1.40%               (8.98%)       
  MFS Investors Trust Series                                         0.57%         1.40%               (15.90%)      
  MFS New Discovery Series                                           3.11%         1.40%                19.05%       
  Oppenheimer Main Street Growth & Income Fund                       0.53%         1.40%               (10.63%)      
  Oppenheimer Bond Fund                                              7.36%         1.40%                7.24%        

(f) For the period from March 21, 2001 to December 31, 2001.          
(g) For the period from February 21, 2001 to December 31, 2001.       
(h) For the period from March 19, 2001 to December 31, 2001.          
(i) For the period from October 9, 2001 to December 31, 2001.         
(j) For the period from October 15, 2001 to December 31, 2001.        

  * Unit fair value amounts are presented as a range of minimum to maximum
  values, with the lowest value representing the lowest unit fair value of
all products offered and the highest unit fair value representing the 
highest unit fair value of all products offered.                      

** These amounts represent the dividends, excluding distributions of  
capital gains, received by the Separate Account sub-accounts from the 
underlying mutual funds, net of management fees assessed by the fund  
 managers, divided by the average net assets. These ratios exclude those
expenses, such as mortality and expense charges, that result in direct
    reductions in the unit values. The recognition of investment income by the
    Separate Account sub-accounts is affected by the timing of the declaration
of dividends by the underlying funds in which the Separate Account    
sub-accounts invest. For periods in which a sub-account commenced     
operations, the investment income ratio is not annualized.            

*** These ratios represent the annualized contract expenses of the    
    Separate Account sub-accounts, consisting of mortality and expense charges
    and administrative expenses, for each period indicated. The ratios include
only those expenses that result in a direct reduction to unit values. 
    Charges made directly to contract owner accounts through the redemption of
units and expenses of the underlying fund have been excluded.         

  **** These amounts represent the total return for the periods indicated,
including changes in the value of the underlying funds, and reflect   
 expenses assessed through the reduction of unit values. These ratios do
not include any expenses assessed through the redemption of units.    
Investment options that include a parenthetical notation indicate the 
effective date of that investment option in the variable account. The 
    total return is calculated for each period indicated or from the effective
date through the end of the reporting period.                         

                                                                   (Continued)

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METLIFE INVESTORS USA SEPARATE ACCOUNT A  
FINANCIAL HIGHLIGHTS  

                                                        [Enlarge/Download Table]

                                                            As of December 31, 2001         
                                                   -----------------------------------------
                                                                     Unit                   
                                                                  Fair Value*     Net Assets
                                                     Units    (lowest to highest)   (000)   
                                                   ---------- ------------------- ----------
                                                                                            
Accumulation units, continued:                                                              
  Oppenheimer Money Fund                              164,326       $5.43          $    892 
  Oppenheimer Main Street Small Cap Growth Fund        26,017        6.15               160 
  Oppenheimer Strategic Bond Fund                      60,360        5.37               324 
  Fidelity Asset Manager Portfolio                 21,022,339    8.94 to  9.06      189,787 
  Fidelity Growth Portfolio                        25,015,822   12.91 to 13.12      327,268 
  Fidelity Contrafund Fund                         19,181,427    6.39 to 11.59      219,635 
  Fidelity Overseas Portfolio                       2,228,327    6.34 to  7.35       15,199 
  Fidelity Equity-Income Portfolio                  3,242,873       10.13            32,860 
  Fidelity Index 500 Portfolio                     19,727,766   13.03 to 13.12      257,801 
  Fidelity Money Market Portfolio                   5,072,413    6.76 to  7.02       34,519 
  Scudder I International Portfolio                 2,560,863    6.68 to  6.69       17,139 
  (f) MetLife Davis Venture Value Fund E            2,649,034   10.11 to 10.16       26,848 
  (f) MetLife Harris Oakmark Focused Value Fund B   1,863,945   11.89 to 11.96       22,223 
  MetLife Putnam International Stock Portfolio         94,368        3.48               329 
  MetLife Janus Mid Cap Portfolio                     501,084        2.07             1,036 
  MetLife Russell 2000 Index Portfolio                 89,476        4.56               408 
  MetLife Met/Putnam Voyager Portfolio A              190,680        2.42               461 
  MetLife Loomis Sayles High Yield Bond                17,973        4.66                84 
  (f) MetLife Stock Index B                           166,446   10.83 to 10.85        1,805 
  Van Kampen Emerging Growth Fund                     174,665        4.82               842 
  Van Kampen Enterprise Fund                           68,149        3.91               267 
  Van Kampen Strategic Stock Fund                      60,282        4.73               285 
  Federated American Leaders II                       249,732        4.65             1,162 
  Federated High Income Bond Fund II                   60,212        4.51               271 
  Federated Growth Strategic Fund II                   55,308        4.25               235 
  Federated Equity Income Fund II                     116,932        4.19               490 
  Neuberger Genesis Trust                             478,656        6.93             3,318 
  Neuberger Partners                                  295,027        5.36             1,583 
  Alger Small Capitalization Fund                   9,374,497    5.95 to  5.96       55,888 
  T Rowe Price Growth Fund                            656,181       62.61            41,080 
  T Rowe Price International Fund                     664,996        8.51             5,658 
  T Rowe Price Prime Reserve Fund                      91,744       16.44             1,508 
  Janus Aspen Worldwide Growth                      1,246,925        6.68             8,326 
                                                        [Enlarge/Download Table]

                                                          For the Year ended December 31, 2001        
                                                   ---------------------------------------------------
                                                   Investment       Expense              Total        
                                                     Income        Ratio***           Return****      
                                                    Ratio**   (lowest to highest) (lowest to highest) 
                                                   ---------- ------------------- --------------------
                                                                                                      
Accumulation units, continued:                                                                        
  Oppenheimer Money Fund                              3.88%         1.40%                2.42%        
  Oppenheimer Main Street Small Cap Growth Fund       0.00%         1.40%                2.07%        
  Oppenheimer Strategic Bond Fund                     2.21%         1.40%                3.49%        
  Fidelity Asset Manager Portfolio                    4.32%     0.89% to 1.40%     (6.25%) to (4.95%) 
  Fidelity Growth Portfolio                           0.08%     0.89% to 1.40%    (18.67%) to (15.40%)
  Fidelity Contrafund Fund                            0.78%     0.89% to 1.40%    (15.42%) to (7.08%) 
  Fidelity Overseas Portfolio                         5.65%     1.15% to 1.40%    (22.53%) to (21.26%)
  Fidelity Equity-Income Portfolio                    5.65%         1.40%               (0.96%)       
  Fidelity Index 500 Portfolio                        1.19%     0.89% to 1.40%    (13.79%) to (11.98%)
  Fidelity Money Market Portfolio                     4.05%     0.89% to 1.40%       2.59% to 7.92%   
  Scudder I International Portfolio                   0.41%     1.35% to 1.40%     (8.07%) to (3.38%) 
  (f) MetLife Davis Venture Value Fund E              0.00%     1.30% to 2.25%    (13.19%) to (12.36%)
  (f) MetLife Harris Oakmark Focused Value Fund B     0.00%     1.30% to 2.25%      24.59% to 25.79%  
  MetLife Putnam International Stock Portfolio        0.28%         1.40%               (21.72%)      
  MetLife Janus Mid Cap Portfolio                     0.00%         1.40%               (38.21%)      
  MetLife Russell 2000 Index Portfolio                0.26%         1.40%               (0.55%)       
  MetLife Met/Putnam Voyager Portfolio A              0.00%         1.40%               (31.81%)      
  MetLife Loomis Sayles High Yield Bond              13.15%         1.40%               (2.68%)       
  (f) MetLife Stock Index B                           0.00%     1.30% to 2.25%    (15.49%) to (14.68%)
  Van Kampen Emerging Growth Fund                     0.00%         1.40%                7.33%        
  Van Kampen Enterprise Fund                          0.18%         1.40%               (7.70%)       
  Van Kampen Strategic Stock Fund                     0.00%         1.40%               (10.30%)      
  Federated American Leaders II                       1.29%         1.40%               (6.74%)       
  Federated High Income Bond Fund II                 11.35%         1.40%               (0.75%)       
  Federated Growth Strategic Fund II                  1.75%         1.40%               (20.15%)      
  Federated Equity Income Fund II                     1.76%         1.40%               (11.74%)      
  Neuberger Genesis Trust                             0.00%         0.89%                1.24%        
  Neuberger Partners                                  0.19%         0.89%               (2.45%)       
  Alger Small Capitalization Fund                     0.05%     1.35% to 1.40%    (23.58%) to (23.56%)
  T Rowe Price Growth Fund                            0.19%         0.89%               (2.53%)       
  T Rowe Price International Fund                     1.55%         0.89%               (22.60%)      
  T Rowe Price Prime Reserve Fund                     3.83%         0.89%                3.02%        
  Janus Aspen Worldwide Growth                        0.48%         0.89%               (23.37%)      

(f) For the period from March 21, 2001 to December 31, 2001.          

  * Unit fair value amounts are presented as a range of minimum to maximum
  values, with the lowest value representing the lowest unit fair value of
all products offered and the highest unit fair value representing the 
highest unit fair value of all products offered.                      

** These amounts represent the dividends, excluding distributions of  
capital gains, received by the Separate Account sub-accounts from the 
underlying mutual funds, net of management fees assessed by the fund  
 managers, divided by the average net assets. These ratios exclude those
expenses, such as mortality and expense charges, that result in direct
    reductions in the unit values. The recognition of investment income by the
    Separate Account sub-accounts is affected by the timing of the declaration
of dividends by the underlying funds in which the Separate Account    
sub-accounts invest. For periods in which a sub-account commenced     
operations, the investment income ratio is not annualized.            

*** These ratios represent the annualized contract expenses of the    
    Separate Account sub-accounts, consisting of mortality and expense charges
    and administrative expenses, for each period indicated. The ratios include
only those expenses that result in a direct reduction to unit values. 
    Charges made directly to contract owner accounts through the redemption of
units and expenses of the underlying fund have been excluded.         

  **** These amounts represent the total return for the periods indicated,
including changes in the value of the underlying funds, and reflect   
 expenses assessed through the reduction of unit values. These ratios do
not include any expenses assessed through the redemption of units.    
Investment options that include a parenthetical notation indicate the 
effective date of that investment option in the variable account. The 
    total return is calculated for each period indicated or from the effective
date through the end of the reporting period.                         

77  

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Part C                    OTHER INFORMATION                                     

ITEM 24.    FINANCIAL STATEMENTS AND EXHIBITS                                   

a.         Financial Statements                                                 
     ---------------------------------------------------------------

The following financial statements of the Separate Account are included in Part 
B hereof:                                                                       

1.   Reports of Independent Auditors.                               

2.   Statement of Assets and Liabilities as of December 31, 2003.   

3.   Statement of Operations for the year ended December 31, 2003.  

     4.   Statements of Changes in Net Assets for the years ended December 31,
2003 and 2002.                                            

5.   Notes to Financial Statements - December 31, 2003 and 2002.    

The following consolidated financial statements of the Company are included in  
Part B hereof:                                                                  

1.   Reports of Independent Auditors.                               

2.   Balance Sheets as of December 31, 2003 and 2002.               

3.   Statements of Income for the years ended December 31,          
2003, 2002 and 2001.                                      

4.   Statements of Shareholder's Equity for the years ended         
December 31, 2003, 2002 and 2001.                         

5.   Statements of Cash Flows for the years ended December          
31, 2003, 2002 and 2001.                                  

6.   Notes to Financial Statements - December 31, 2003, 2002        
and 2001.                                                 

b.         Exhibits                                                             
     ---------------------------------------------------------------

     1.   Resolution  of Board  of  Directors  of the  Company  authorizing  the
establishment of the Separate Account (1)                 

2.   Not Applicable                                                   

3.   Form of Principal Underwriter's Agreement (2)                    

4.  (a)(i) Form of 226 RI Contract (1)                                

(ii) Form of 226 RI Certificate and Riders (1)                

5.  (i)  Form of Group Variable Annuity Application (1)               

(ii) Form of Certificate Variable Annuity Application (1)     

6.   (i) Copy of Articles of Incorporation of the Company (1)           
(ii) Copy of the Bylaws of the Company (1)                    

7.   Not applicable                                                     

8.   (i) Form of Fund Participation Agreement among Metropolitan Series 
      Fund, Inc., Metropolitan Life Insurance Company and Security
        First Life Insurance Company (now called MetLife Investors USA
Insurance Company (3)                                 

    (ii) Form of Participation Agreement between MetLife Investors USA
Insurance Company and Met Investors Series Trust (4)  

9.   Opinion and Consent of Counsel                                     

10.  Consent of Independent Auditors                                    

11.  Not Applicable                                                     

12.  Not Applicable                                                     

13.  Company Organizational Chart                                       

  14.  Powers of Attorney for Michael K. Farrell, James P. Bossert, Susan A.
   Buffum, Michael R. Fanning, Hugh C. McHaffie, Richard C. Pearson,
Elizabeth M. Forget, Jeffrey A. Tupper and George Foulke (5)  

(1)   All previously filed Exhibits to MetLife Investors USA Separate     
    Account A registration statement and all post-effective amendments
thereto are specifically incorporated herein by reference.    

   (2)  incorporated herein by reference to Registrant's Pre-Effective Amendment
No. 2 to Form N-4 (File Nos. 333-54464 and 8911-03365) filed    
electronically on March 21, 2001                                

(3)  incorporated by reference Post-Effective Amendment No. 1 to Form N-4 
        (File Nos. 333-54464 and 811-03365) filed electronically April 13, 2001.

(4)  incorporated by reference Post-Effective Amendment No. 4 to Form N-4 
   (File Nos. 333- 54464 and 811-03365) filed electronically April 30,
2003.                                                           

(5)  incorporated herein by reference to Registrant's Post-Effective      
    Amendment No. 5 to Form N-4 (File Nos.333-54464 and 811-05200) filed
electronically on April 27, 2004.                               

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ITEM 25. DIRECTORS AND OFFICERS OF THE DEPOSITOR                                

The following are the Officers and Directors who are engaged directly or        
indirectly in activities relating to the Registrant or the variable annuity     
contracts offered by the Registrant and the executive officers of the Company:  

Name and Principal                          Positions and Offices               
Business Address                            with Depositor                      
----------------------                      ----------------------              

Michael K. Farrell                          Chairman of the Board, President,   
22 Corporate Plaza Drive                    Chief Executive Officer and Director
Newport Beach, CA  92660                                                        

Susan A. Buffum                             Director                            
334 Madison Avenue                                                              
Convent Station, NJ 07961                                                       

James P. Bossert                            Executive Vice President, Chief     
22 Corporate Plaza Drive                    Financial Officer and Director      
Newport Beach, CA  92660                                                        

Michael R. Fanning                          Director                            
501 Boylston Street                                                             
Boston, MA 02116                                                                

Elizabeth M. Forget                         Director                            
One Madison Avenue                                                              
New York, NY  10010                                                             

George Foulke                               Director                            
501 Route 22                                                                    
Bridgewater, NJ 08807                                                           

Hugh C. McHaffie                            Executive Vice President Director   
501 Boylston Street                                                             
Boston, MA  02116                                                               

Richard C. Pearson                          Senior Vice President, General      
22 Corporate Plaza Drive                    Counsel, Secretary and Director     
Newport Beach, CA  92660                                                        

Jeffrey A. Tupper                           Assistant Vice President and        
22 Corporate Plaza Drive                    Director                            
Newport Beach, CA 92660                                                         

Helayne F. Klier                            Executive Vice President            
One Madison Avenue                                                              
New York, NY 10010                                                              

Kevin J. Paulson                            Senior Vice President               
4700 Westown Parkway                                                            
West Des Moines, IA 50266                                                       

Johanna B. Becker                           Vice President                      
501 Boylston Street                                                             
Boston, MA 02116                                                                

Christopher A. Kremer                       Vice President                      
501 Boylston Street                                                             
Boston, MA 02116                                                                

Marian J. Zeldin                            Vice President                      
501 Route 22                                                                    
Bridgewater, NJ 08807                                                           

Karen A. Johnson                            Vice President                      
501 Boylston Street                                                             
Boston, MA 02116                                                                

Debora L. Buffington                        Vice President                      
22 Corporate Plaza Drive                                                        
Newport Beach, CA  92660                                                        

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Betty Davis                                 Vice President                      
1125 - 17th Street                                                              
Denver, CO 80202                                                                

Louis M. Weisz                              Vice President, Appointed Actuary   
501 Boylston Street                                                             
Boston, MA  02116                                                               

Anthony J. Williamson                       Treasurer                           
One Madison Avenue                                                              
New York, NY  10001                                                             

ITEM 26.    PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH DEPOSITOR OF     
REGISTRANT                                              

The Registrant is a Separate Account of MetLife Investors USA Insurance Company 
("depositor"). For a complete listing and diagram of all persons directly or    
indirectly controlled by or under common control with the depositor, see Exhibit
13.                                                                             

ITEM 27.    NUMBER OF CONTRACT OWNERS                                           

As of February 27, 2004, there were 54,756 qualified contact owners and 58      
non-qualified contract owners.                                                  

ITEM 28.    Indemnification                                                     

None                                                                            

ITEM 29.   PRINCIPAL UNDERWRITERS                                               

     (a) MetLife Investors Distribution Company is the principal underwriter for
the following investment companies (other than Registrant):                     

Met Investors Series Trust                                                
MetLife Investors Variable Annuity Account One                            
MetLife Investors Variable Annuity Account Five                           
MetLife Investors Variable Life Account One                               
MetLife Investors Variable Life Account Five                              
First MetLife Investors Variable Annuity Account One                      

     (b) MetLife Investors Distribution Company is the principal underwriter for
the Contracts. The following persons are the officers and directors of MetLife  
Investors Distribution Company. The principal business address for each officer 
and director of MetLife Investors Distribution Company is 22 Corporate Plaza    
Drive, Newport Beach, CA 92660.                                                 

NAME AND PRINCIPAL                          POSITIONS AND OFFICES               
BUSINESS ADDRESS                             WITH UNDERWRITER                 
----------------                             ----------------                 

Richard C. Pearson                      President and Director                  
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Elizabeth M. Forget                     Executive Vice President and Director   
One Madison Avenue                                                              
New York, NY  10010                                                             

Edward Wilson                           Executive Vice President and Director   
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

James P. Bossert                        Director                                
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Michael K. Farrell                      Director                                
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Lisa S. Kuklinski                       Director                                
600 Plaza II                                                                    
Jersey City, NY 07311                                                           

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Helayne F. Klier                        Executive Vice President                
One Madison Avenue                                                              
New York, NY 10010                                                              

Paul Hipworth                           Executive Vice President, Chief         
22 Corporate Plaza Drive                Financial Officer                       
Newport Beach, CA 92660                                                         

Paul A. LaPiana                         Executive Vice President                
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Leslie Sutherland                       Executive Vice President                
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Charles M. Deuth                        Vice President and Director             
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Debora L. Buffington                    Vice President, Director of Compliance  
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

James R. Fitzpatrick                    Vice President                          
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Paul M. Kos                             Vice President                          
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Deron J. Richens                        Vice President                          
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Paul A. Smith                           Vice President                          
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Cathy Sturdivant                        Vice President                          
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Paulina Vakouros                        Vice President                          
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Jonnie L. Crawford                      Secretary                               
22 Corporate Plaza Drive                                                        
Newport Beach, CA 92660                                                         

Anthony J. Williamson                   Treasurer                               
One Madison Avenue                                                              
New York, NY 10010                                                              

   (c) Compensation From the Registrant. The following commissions and other
compensation were received by the Distributor, directly or indirectly, from the 
Registrant during the Registrant's last fiscal year:                            

(1)                  (2)               (3)            (4)           (5) 
Name of         Net Underwriting                                            
Principal         Discounts and      Compensation     Brokerage       Other   
Underwriter         Commissions       on Redemption   Commissions   Compensation

MetLife Investors   $169,179,314           None            N/A            N/A   
Distribution                                                                    
Company                                                                         

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ITEM 30.    LOCATION OF ACCOUNTS AND RECORDS                                    

MetLife Investors Distribution Company, underwriter for the registrant, is      
located at 22 Corporate Plaza Drive, Newport Beach, California 92660. It        
maintains those accounts and records required to be maintained by it pursuant to
Section 31(a) of the Investment Company Act of 1940 and the rules promulgated   
thereunder.                                                                     

MetLife Investors USA Insurance Company, the depositor for the registrant, is   
located at 22 Corporate Plaza Drive, Newport Beach, California 92660. It        
maintains those accounts and records required to be maintained by it pursuant to
Section 31(a) of the Investment Company Act of 1940 and the rules promulgated   
thereunder and as custodian for the Registrant.                                 

MetLife Investors Group, Inc. is located at 22 Corporate Drive, Newport Beach,  
California 92660. It performs substantially all of the recordkeeping and        
administrative services in connection with the Registrant.                      

ITEM 31.    MANAGEMENT SERVICES                                                 

Not applicable.                                                                 

ITEM 32.    UNDERTAKINGS                                                        

Registrant makes the following undertaking:                                     

MetLife Investors USA represents that the fees and charges deducted under the   
Contracts described herein this registration statement are, in the aggregate,   
reasonable in relation to the services rendered, the expenses expected to be    
incurred and the risks assumed by MetLife Investors.                            

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SIGNATURES

As required by the Securities Act of 1933 and the Investment Company Act of     
1940, the Registrant certifies that it meets the requirements of Securities Act 
Rule 485(b) for effectiveness of this Registration Statement and has caused this
Registration Statement to be signed on its behalf, in the City of Newport Beach,
and State of California on this 29th day of April, 2004.                        

                    METLIFE INVESTORS USA SEPARATE ACCOUNT A
(Registrant)        

              By:  METLIFE INVESTORS USA INSURANCE COMPANY

By:  /s/ MICHAEL K. FARRELL   
                     -----------------------------------------

                     METLIFE INVESTORS USA INSURANCE COMPANY
Depositor       

By: /s/ MICHAEL K. FARRELL  
                       -----------------------------------------

As required by the Securities Act of 1933, this Registration Statement has been 
signed by the following persons in the capacities and on the dates indicated.   

                                                                [Download Table]
                                                                                    

/s/ MICHAEL K. FARRELL        Chief Executive Officer, President            4-29-04 
----------------------------- and Director                                  --------
Michael K. Farrell                                                           Date   

/s/ JAMES P. BOSSERT          Executive Vice President and Chief Financial   4-29-04
---------------------------   Officer (Principal Accounting Officer) and    --------
James P. Bossert              Director                                        Date  

/s/ SUSAN A. BUFFUM*          Director                                       4-29-04
----------------------------                                                --------
Susan A. Buffum                                                              Date   

/s/ MICHAEL R. FANNING*       Director                                       4-29-04
----------------------------                                                --------
Michael R. Fanning                                                           Date   

/s/ ELIZABETH M. FORGET*      Director                                       4-29-04
----------------------------                                                --------
Elizabeth M. Forget                                                                 

/s/ GEORGE FOULKE*            Director                                       4-29-04
----------------------------                                                --------
George Foulke                                                                 Date  

/s/ HUGH C. MCHAFFIE*          Director                                      4-29-04
----------------------------                                                --------
Hugh C. McHaffie                                                              Date  

/s/ RICHARD C. PEARSON        Director                                       4-29-04
----------------------------                                                --------
Richard C. Pearson                                                            Date  

/s/ JEFFREY A. TUPPER         Director                                       4-29-04
----------------------------                                                --------
Jeffrey A. Tupper                                                             Date  

                                    *By: /s/ RICHARD C. PEARSON                     
                                         ---------------------------------------    
                                         Richard C. Pearson, Attorney-in-fact       

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 INDEX TO EXHIBITS

EX-99.B9       Opinion and Consent of Counsel                                   
EX-99.B10      Consent of Independent Auditors                                  
EX-99.B13      Company Organizational Chart                                     

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
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Filed on:		4/30/04							485BPOS
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