Over 100% Increase in New York Life International Membership

NEW YORK, N.Y., August 26, 2002 — For a record-breaking 48th consecutive year, New York Life Insurance Company is the dominant leader of the Million Dollar Round Table (MDRT), an association of leading sales professionals in the life insurance industry. With 2,066 New York Life MDRT members, the gap between the company and its nearest competitor is 638 agents, nearly 31%. In addition, New York Life International has produced 426 members, an increase of over 100% from last year.

"After 48 consecutive years as the MDRT leader, it's clear that our agents are the best in the business," says Phillip J. Hildebrand, CLU, executive vice president and chief distribution officer of New York Life. "New York Life's unwavering commitment to our field force, combined with our superb product offerings have translated into another winning year."

New York Life is the "Triple Crown" winner, leading all three levels of the MDRT including its two highest performance tiers, the Top of the Table and the Court of the Table with 57 and 176 members, respectively. To qualify domestically for the 2002 MDRT, applicants must have submitted proof of production equal to or greater than $63,000 of MDRT-eligible commissions or $126,000 of MDRT-eligible premiums and have been a member of their local life underwriters association.

Global Leadership
New York Life International, the overseas arm of New York Life, produced a record 426 MDRT members, representing operations in Hong Kong, India, Korea, Mexico, Taiwan and Thailand. New York Life's subsidiary in Mexico, Seguros Monterrey New York Life, was ranked at number 24 overall on the top 100 MDRT companies list, with 256 agents as members. Around the world, New York Life is known for its highly professional agent force, and International's growing presence in MDRT is testament to the company's commitment to providing its International operations with the professional development tools and training to achieve high standards of excellence. Production requirements for MDRT membership are set independently for each country.

Founded in 1927, MDRT is comprised of the top sales professionals in the life insurance-based financial services business, from more than 60 nations and about 475 companies. MDRT members are recognized as skillful professionals who are considered to be among the best in the industry, perform outstanding client service, are recognized as business and community leaders, and have achieved the highest standard of sales excellence in the life insurance and financial service arena.

New York Life Insurance Company, a Fortune 100 company, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Founded in 1845 and headquartered in New York City, New York Life and its affiliates offer life insurance, annuities and long-term care insurance. New York Life Investment Management, LLC, a New York Life affiliate, provides institutional asset management, retirement plan and trust services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

Contacts:

Lisa Fels
New York Life
(212) 576-7937

Mike Holloway
Edelman Public Relations Worldwide
(212) 704-4532

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