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Strong Sales Continue For New York Life Through The Third Quarter Of 2011

Sales of Life Insurance, Income Annuities and Mutual Funds Continue to Surge

NEW YORK, N.Y., November 16, 2011 - New York Life Insurance Company, America's largest mutual life insurer, today announced very strong third quarter gains in sales of life insurance, income annuities and mutual funds, as well as a solid increase in field force new hires in the first nine months of 2011.

Continued Strong Life Insurance Growth

Individual life insurance sales increased 10% through September compared with the first nine months of 2010. This growth is being driven by agents, with life insurance sales through the company's national field force up 11% over the same 2010 period.* The company's Custom Whole Life product, an innovative form of whole life that allows consumers to choose how long they pay premiums, continues as the most popular whole life product with a sales increase of 21% over the same period last year.

"Families and businesses across the country continue to need to make financial decisions and what has become even more clear to them as the economy continues to sputter is that they have a strong need for the protection that life insurance provides. With a continued leading 11.9% life insurance market share**, and solid growth across product lines, New York Life's 11,900 agents across the country are meeting the needs of individuals who have been under the pressure of three years of a rocky economy, and we are proud that New York Life is providing for so many who seek safety and security," said Mark Pfaff, executive vice president in charge of U.S. Life and Agency.

"With more than $3.26 billion paid to New York Life beneficiaries through October, it is this infusion of life insurance proceeds that help families and businesses deal with the financial ramifications of a significant loss," added Mr. Pfaff.

Solid Income Annuity and Mutual Fund Sales Continue

New York Life continues as the market share leader in fixed immediate annuities*** with an increase of 23% over the same period last year, led by strong sales through New York Life agents and third-party distribution channels. Our new Guaranteed Future Income Annuity contributed to the strong sales growth with sales of $100 million to date since its July 2011 launch.

"Studies have shown that income annuity owners feel more confident about their income in retirement than pre-retirees and retirees who don't have enough guaranteed lifetime income in retirement. Our continued strong sales growth proves that more Americans are carefully planning for their needs in retirement and we are pleased that income annuities are being appreciated more and more as part of the solution," said Chris Blunt, executive vice president in charge of Retirement Income Security.

Sales of New York Life's affiliated mutual funds (The MainStay Funds) are up 79%, totaling more than $14 billion in the first nine months of the year, with strong performances from third-party channels accounting for more than $11 billion of the total. In Barron's ranking of mutual fund families, MainStay Funds ranked third out of 46 fund families for the 10-year period ended December 31, 2010 - the second year in a row that MainStay commanded the number three spot.****

"The sales growth of MainStay Funds proves we are delivering a very attractive value proposition to the marketplace and is a reflection of the strong performance of our individual fund offerings," said Mr. Blunt.

Field Force Increases Nationwide

Recruitment of the company's field force is up 4% for the first nine months of 2011 compared to the same period in 2010.

In September over 30 offices across the country held a National Sales Careers Day where our local offices were open to the public to educate Americans on the benefits of a career with New York Life and approximately 500 jobseekers had the opportunity to talk to managers and agents and see if the career is a fit for them. In addition, New York Life employees have referred 98 individuals as agent candidates.

"The one common thread in these leads is the recognition that work as an agent for New York Life is a great career choice," said Rich Simonetti, vice president in charge of recruiting.

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 currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).****** 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 retail mutual funds.

Please visit New York Life's Web site at www.newyorklife.com for more information.

*New York Life counts Agency insurance sales of single premiums at 10%.

**Market share calculations based on New York Life's analysis of results from LIMRA International, Second Quarter 2011 U.S. Individual Life Insurance Sales Survey. Single premiums counted at 100%. Counting singles at 10%, New York Life also leads the industry with a 7% market share.

***Source: LIMRA International Source: LIMRA International, U.S. Individual Annuity Sales Survey, Fixed Immediates, Second Quarter 2011 results. (Fixed Immediates include Fixed Period Annuities.) Annuities are issued by New York Life Insurance and Annuity Corporation (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company.

****Source: Barron's, "The Best Mutual Fund Families in 2011," February 7, 2011. See below About Barron's Ranking.

*****Based on revenue as reported by "Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, May 5, 2011. See http://money.cnn.com/magazines/fortune/fortune500/2011/faq/ for methodology.

******Source: Individual Third Party Ratings Report as of 8/23/11.

*******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.

About the Barron's Rankings
To qualify for the Lipper/Barron's Fund Survey, a fund family must have at least three funds in Lipper's general U.S.-stock category, one in world equity (which combines global and international funds), one mixed-equity fund (which holds stocks and bonds), at least two taxable-bond funds, and one tax-exempt offering. Each fund's returns are adjusted for 12b-1 fees. Fund loads, or sales charges, aren't included in the calculation of returns, either. Each fund's return is measured against those of all funds in its Lipper category, such as, say, small-cap value. That leads to a percentile ranking, with 100 the highest and 1 the lowest, which is then weighted by asset size, relative to the fund family's other assets in its general classification, world equity, for instance. If a family's biggest funds do well, that boosts its overall ranking. Poor performance in a big fund would have the opposite effect. Finally, the score is multiplied by the weighting of its general classification, as determined by the entire Lipper universe of funds. The category weightings for the one-year results: general equity, 40.52%; world equity, 14.32%; mixed equity, 16.46%; taxable bond, 24.52%; tax-exempt bond, 4.18%. The scoring: Say a company has a fund in the general U.S. equity category with $50 million in assets that accounts for half of the company's assets in that category. Its ranking is the 75th percentile. The first calculation would be 75 x 0.50, which comes to 37.5. That score is then multiplied by 40.52%, general equity's overall weighting in Lipper's universe. So it would be 37.5 x 0.4052, which totals 15.2. Similar calculations are done for every fund in the study. Then, all the numbers are added up for a total score. The fund family with the highest score wins, both for each category and overall. The same process is repeated for the five- and 10-year rankings. Ranking data from Lipper. Reprinted with permission from Barron's.

Overall, MainStay Funds ranked 40 for the one-year period, 17 for the five-year period, and three for the 10-year period ended December 31, 2010, out of 57, 53, and 46 fund families, respectively. Past performance is no guarantee of future results. All mutual funds are subject to market risk and will fluctuate in value.

For more information about MainStay Funds, call 800-MAINSTAY (624-6782) for a prospectus, and, if available, a summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses carefully before investing. The prospectus, and, if available, a summary prospectus, contains this and other information about the investment company. Please read the prospectus, and, if available, a summary prospectus, carefully before investing.

New York Life Investment Management LLC serves as the investment manager of the MainStay Funds. MainStay Funds are separate legal entities and not subsidiaries of New York Life Insurance Company. Securities distributed by NYLIFE Distributors LLC, member FINRA/SIPC, 169 Lackawanna Avenue, Parsippany, New Jersey 07054.

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