NEW YORK, N.Y., December 9, 2003 - New York Life Insurance Company announced today that Senior Vice President Robert J. Hebron has been appointed to lead the company's Advanced Markets Network (AMN) based in Leawood, Kansas and will split his time between New York and Kansas City. He succeeds Senior Vice President Patrick G. Colloton, who will be retiring as of January 1.

"Under Pat's direction, New York Life's Advanced Markets Network has grown into one of the largest producers of life insurance premium in the United States. We appreciate his significant contributions to the company and wish him well in retirement," said Phillip J. Hildebrand, executive vice president and co-head of New York Life's Life and Annuity operation. "Bob has worked closely with AMN for several years and we're confident that his knowledge of the business and experience with its operations will allow for a seamless transition."

Mr. Hebron currently serves as interim head of AMN and its Individual Life Product Development Group. He joined New York Life in 1988 as an associate general counsel in the Office of the General Counsel. He was promoted to assistant general counsel and then associate general counsel prior to his position as a vice president of the company's Individual Life Department. He was elected senior vice president in 2000. Earlier in his career, Mr. Hebron worked at Phoenix Mutual Life Insurance Company.

Mr. Hebron received a J.D. from Fordham University School of Law and an A.B. degree in Economics from Columbia College. He lives in Maplewood, New Jersey, with his wife, Deborah, and their three children.

Mr. Colloton joined New York Life in 1996 and was elected senior vice president of the company's AMN (then called Brokerage Department) in 1998. He began his career with Northwestern Mutual as a business and estate planning attorney and also worked at Mass Mutual and the Business Men's Assurance Company. Mr. Colloton received a J.D. from the University of Wisconsin Law School and a B.B.A. from the University of Wisconsin.

New York Life's Advanced Markets Network provides personalized service and markets Individual Life products to over 2,000 producing entities nationwide, as well as focuses on estate planning, corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI). Last year was the operation's most profitable year to date, contributing over $900 million in premium and helping the company to achieve the number one market share for new life premium . The company renamed the unit Advanced Markets Network from Brokerage Department earlier this year to reflect its focus on serving upscale individuals and corporate markets through its brokerage relationships.

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 offer life insurance, and through its affiliates, 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

Kavita Pandey
Edelman
212-704-8207
kavita.pandey@edelman.com

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