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Photo Caption: New York Life Foundation Grants $100,000 To Support Virtual Enterprise International's National Business Plan Competition

NEW YORK, N.Y., April 20, 2011 - The New York Life Foundation announced a $100,000 grant to Virtual Enterprises International to support their National Business Plan Competition, a three-day competition that challenges Virtual Enterprises International (VEI) students from across the country to demonstrate their global business expertise through written business plans and oral presentations. While thousands of students compete locally, funding from the New York life Foundation enabled VEI to host a national business plan competition, and for 19 teams to compete in New York City.

The winning team, from Costa Mesa High School in Costa Mesa, California, represented a virtual business named Sanatorius. It received the highest marks from a panel of judges, who are business professionals representing different industries. The judges evaluated the team's written business plan, their oral presentation and a question and answer session. The evaluation covers content; market analysis; Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis; operating procedures; financial data; feasibility; and quality of plan.

Pictured are members of the winning team receiving their awards in New York City. Top row, left to right: Dillon Escobar, Lisandro Barajas and Joshua Knox. Bottom row, left to right: Anna Alvarado, Lisa Mai and Angeline Hong.

About Virtual Enterprises International

Virtual Enterprises International (VEI) teaches students about business, entrepreneurship, finance, economics and technology through a task-based curriculum and hands-on activities. Guided by a teacher/facilitator and business mentors, students create and manage a virtual company, conducting business with other virtual firms nationally and internationally

Open to all students, VEI thrives in over 500 U.S. secondary and post-secondary institutions. It empowers and motivates participants to develop a range of academic and business skills that prepares them for success in employment, education and the community. To learn more about VEI, visit http://veinternational.org.

About The New York Life Foundation

Inspired by New York Life’s tradition of service and humanity, the New York Life Foundation has, since its founding in 1979, provided more than $140 million in charitable contributions to national and local nonprofit organizations. Through its focus on “Nurturing the Children,” the Foundation supports programs that benefit young people, particularly in the areas of safe places to learn and grow, educational enhancement opportunities and childhood bereavement. The Foundation also encourages and facilitates the community involvement of employees, agents, and retirees of New York Life through its Volunteers for Life program. To learn more, please visit the Foundation's Web site at www.newyorklifefoundation.org.