Company to Debut Commercial on Monday Night Football Game on ABC

NEW YORK, N.Y., September 19, 2002 — New York Life Insurance Company announced today the launch of its new $43 million national television and print advertising campaign titled "Heritage." The company will preview its television commercial on the upcoming ABC Monday Night Football Game on September 23rd and plans to run television and print advertisements for the next 15 months. The "Heritage" campaign reflects New York Life's well-established brand and conveys the company's core values of financial strength, integrity and humanity. The spots also communicate New York Life's core values of trust and stability for past, present and future generations of customers. New York Life has retained its recognizable tagline, "The Company You Keep."

"New York Life is proud to launch a new series of advertisements that communicate our enduring commitment to providing our policyholders and customers with the protection and financial security they need," said Carolyn Martin Buscarino, senior vice president in charge of corporate communications at New York Life. "The 'Heritage' campaign also emphasizes our expanded global presence and the diversity of our growing customer base."

The company will introduce the first of a series of three 30-second television spots this coming Monday. Visually appealing images from the past, present and future are juxtaposed using the landmark New York Life building as a backdrop. The "Heritage" campaign includes "Fathers," "Generations," and "Global Presence" and will air nationally with a focus on nine key markets, including: Boston, Cleveland, Dallas, Denver, Los Angeles, New York, Sacramento, San Francisco, and Washington, D.C. This latest round of ads builds upon New York Life's prior "Cityscape" television campaign, which premiered during the 2000 Academy Awards.

The print advertisements educate consumers on one of the organization's key strategies to remain a mutual insurance company and will first appear in the October issue of Inc., Money, SmartMoney and Kiplinger's Personal Finance. In the coming months, the ads are slated to run in national news and business publications including: BusinessWeek, Forbes, Fortune, Newsweek, Time, and US News and World Report. New York Life has returned to a strategy that includes print advertisements after a five-year hiatus from this medium.

Berlin Cameron/Red Cell, a WPP company, was hired to design advertisements that depict New York Life's rich history and forward-looking business strategy, with a special emphasis on the company's desire to help individuals and families.

"Our job was to continue the theme of how New York Life's enduring values enable the Company to adapt to a changing world," said Ewen Cameron, CEO, Berlin Cameron Red Cell. "The challenge was to not only put together something new and different, but also to deepen the consumers' understanding of the Company and make sure they recognized that these were New York Life commercials."

The "Heritage" commercials incorporate several elements from the previous Cityscape campaign: Gerard de Thame directed the commercials; the "Cityscape" music (originally composed by Carter Burwell) was retained and re-orchestrated; actress Ruby Dee provided the voiceovers; and the company's celebrated building was prominently featured throughout.

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

Karen Finkston Payes
New York Life
(212) 576-5624

Erin Gately
Edelman Public Relations
(212) 704-8172

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