George Trapp Retires After 30 Years of Service

NEW YORK, September 9, 2003 — New York Life Insurance Company has appointed Sandra J. Kristoff as senior vice president and chief of staff. She had previously served as head of government relations for New York Life International, the company's overseas arm.

In her new role, Ms. Kristoff assumes most of the responsibilities of George J. Trapp, executive vice president and secretary, who retired from the company last month after nearly 30 years of service. As chief of staff, Ms. Kristoff is responsible for Human Resources, Corporate Communications, Corporate Services, Employees' Health, and the Office of Governmental Affairs. She reports to Sy Sternberg, chairman and chief executive officer of New York Life.

The corporate secretary's responsibility that Mr. Trapp had since 1995 has been transferred to the Office of General Counsel. David A.K. Harland, senior vice president and deputy general counsel, assumed the secretary's position effective Sept. 1. In recent years, he served as assistant secretary. Mr. Harland continues to be responsible for the corporate governance unit of the Office of General Counsel.

Mr. Sternberg said, "Sandy did an outstanding job representing New York Life International's activities in the Washington policy-making community and with foreign government representatives. She played a significant role in helping New York Life obtain an operating license in China, and helped manage our entry into India and Vietnam. From her senior positions in the federal government, she brings a multitude of management skills to her new position as chief of staff. I'm pleased that Sandy has accepted this challenging new role." In making the announcement, Mr. Sternberg made special note of the many contributions of Mr. Trapp during his long service with the company.

Ms. Kristoff joined New York Life International in 1998 as senior vice president of government affairs, following a 22-year career in the federal government. Her most recent government position was at the White House where, for 2 1/2 years, she was the special assistant to the President and senior director for Asian Affairs at the National Security Council (NSC). She also served at the NSC in 1993 as director for Asian Affairs and, in 1994, was a member of the National Economic Council, where she held the position of special assistant to the President and senior director for Asia Pacific Economic Affairs.

Prior to her tenure at the White House, Ms. Kristoff served in a variety of positions, including deputy assistant secretary of state for East Asia and Pacific Affairs, and deputy and then assistant U.S. trade representative for Asia and the Pacific.

In 2002, Ms. Kristoff was elected a senior vice president of New York Life and, on January 1, 2003, became a member of its Executive Management Committee, the group of senior executive officers who set all of the company's policies and plans. Her office is located in the company's Home Office in Manhattan.

Ms. Kristoff received B.A. and M.A. degrees from American University and a J.D. degree from George Washington University Law School.

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
lisa_fels@newyorklife.com

William Werfelman
New York Life
212-576-5385
william._werfelman@newyorklife.com

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