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New York Life Names Elizabeth McCarthy to Head of Corporate Communications

Financial Services Veteran Promoted to Senior Vice President

NEW YORK, N.Y., March 15, 2011 — New York Life Insurance Company announced today that Elizabeth McCarthy has been elected senior vice president in charge of Corporate Communications, reporting to Chairman and CEO Ted Mathas.

Ms. McCarthy is responsible for advertising, media and public relations, employee communications and editorial services, the company’s television production studio, and a newly created customer insights unit, which will work with key business units to deepen the company’s relationships with current and potential clients.

“Liz has played an important role in shaping and aligning our company messaging, especially in the wake of the financial crisis. Our story of mutuality, financial strength and guarantees has really resonated with consumers, and having nearly 12,000 agents able to tell that story has been a significant competitive advantage for us. In her new role, she will have the opportunity to bring further focus and alignment to how we communicate our unique story in our advertising, media relations and branding,” said Mr. Mathas.

Prior to her new role, Ms. McCarthy was head of the company’s agency communications division since joining the company in 2003. Before that, she was a first vice president at Morgan Stanley, where she served as the Director of Marketing Communications for the Individual Investor Group. In her role there, she was responsible for the strategy and execution of communications to Morgan Stanley’s retail sales force.

Liz received an A.B. in Economics cum laude from Harvard College. She resides in South Orange, NJ, with her husband and three children.

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds. Please visit New York Life’s Web site at www.newyorklife.com for more information.

*New York Life is the largest mutual life insurance company based on the Fortune 500, ranked within industries, Insurance: Life, Health (Mutual), Fortune magazine, May 3, 2010.

**New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

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