NEW YORK, N.Y., March 3, 2004 — New York Life has announced that Eric B. Campbell, currently senior vice president in New York Life's agency department, will join New York Life International, the overseas arm of New York Life Insurance Company, as executive vice president and chief distribution officer. Mr. Campbell will assume the role on April 1, 2004.

Mr. Campbell will assist New York Life International to leverage the expertise the company has gained over the past 158 years in the United States, adapting proven processes to build the company's field forces in high–growth international markets.

Mr. Campbell will report to Gary G. Benanav, chairman and CEO, New York Life International and will work closely with the heads of the company's overseas operations to improve the quality and results of the company's core agency channel and other distribution channels. The chief distribution officer is a newly created role, expanding upon the role of chief of international agency operations, currently held by Tom Flournoy. Mr. Flournoy, a lifetime MDRT member, will return his attentions to his clients in the field after nearly a decade in New York Life management.

"Eric is a very talented and experienced executive with an exceptional management profile. I am very pleased that he has joined New York Life International. I'm confident that Eric's broad experience in both sales and management will provide the kind of leadership we need to further develop our overall distribution operations in the nine markets in which we operate," said Mr. Benanav. "I am looking to Eric to lead our overall international distribution strategy, building upon the strong base of 16,000 agents that Tom Flournoy has helped grow over the past three years."

Mr. Campbell brings a broad perspective to his new role from almost 27 years with New York Life, having served as an agent, a field manager, a zone officer and as an executive in the Home Office. As a senior vice president in New York Life's agency department for the past four years, Mr. Campbell has been responsible for the supervision of New York Life's agents and managers across the United States.

"I have had a very rewarding career with New York Life and I'm thrilled to bring the best of New York Life's distribution success to our rapidly growing international markets," said Mr. Campbell. "New York Life has achieved dominance in the U.S. life insurance market, largely due to the company's unwavering commitment to the career agency system while exploring supplemental distribution channels. I believe this strategy has also begun to be proven successful in our international markets and I look forward to helping to grow that international distribution capability."

Mr. Campbell received a B.S. degree from Oklahoma State University. He continued his professional studies in financial services with the American College in Philadelphia. His professional designations include Chartered Life Underwriter, Chartered Financial Consultant and Chartered Leadership Fellow. Mr. Campbell and his wife, Katie, reside in New York City. They have two children, Ryan who attends law school in Houston, Texas and Emily, who attends the Fashion Institute of Technology in New York City.

About New York Life International
New York Life International offers insurance products through its subsidiaries and affiliates in Hong Kong, India, Mexico, the Philippines, South Korea, Taiwan, Thailand, Argentina, and China. The company maintains a representative office in Hanoi, Vietnam.

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. Headquartered in New York City, New York Life's family of companies offers life insurance, annuities and long–term care insurance. New York Life Investment Management LLC provides institutional asset management, retirement planning 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:
Elizabeth Middleton
New York Life
212-576-5702
Elizabeth_Middleton@newyorklife.com

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