Not sure if I've ever played a game that you could level past 99...and I actually did so. I know I've definitely had level 99 characters.
Actually, never mind. I had characters above that level is Might and Magic: World of Xeen. You had to pay for leveling in that game and it got insanely expensive -- there wasn't enough money to keep up with it all by the end. The cost was (current level)^2 * 100, which meant you were paying 1,000,000 gold for level 100 for each of your 6 characters, and there's probably less than 100 mil possible in the game. So I got a little past level 99 on that, but I hacked a game one time to have level 255. ;)
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Only the exceptions can be exceptional.