Grants to Westchester County Nonprofits Total $250,000 For 2005

NEW YORK, N.Y., October 27, 2005 — The New York Life Foundation today announced grants totaling $139,000 to nine Westchester nonprofits that target young people, particularly in the areas of mentoring, safe places to learn and grow, and educational enhancement opportunities. Earlier this year, eight nonprofits received $111,000 from the New York Life Foundation, bringing the Foundation's total support of Westchester County nonprofit organizations to $250,000 in 2005.

"When New York Life opened its office in Westchester last year, we pledged to be an active member of this community. The announcement of today's grants underscores this commitment, and I am pleased that this year the New York Life Foundation has awarded $250,000 to nonprofits that are providing valuable services to meet the needs of underserved children in Westchester County," said Sy Sternberg, chairman and chief executive officer of New York Life and chairman of the New York Life Foundation. "The grants support important programs that provide at—risk children with the tools they need to succeed."

"It is truly gratifying to see our relationships with many Westchester—based nonprofits develop and it is even more gratifying to see the children they serve flourish as a result of these relationships," said Peter Bushyeager, president of the New York Life Foundation. "The New York Life Foundation will continue to support nonprofit organizations that strive to improve the well—being of children throughout the county."

The grant recipients are as follows:

• Cardinal McCloskey Services — $10,000 to support a specialized technology—based after—school program that provides academic remediation;
• Cluster — $15,000 to support volunteer recruitment efforts and expand mentor support services for its STRIDES mentoring program;
• Graham Windham — $15,000 to provide intensive after—school tutoring and academic supplies for the schools' residents;
• Port Chester Carver Center — $16,000 to establish a new Saturday Academy focusing on improving students' math and science skills;
• RSHM Life Center — $13,000 to enhance the Center's after—school program with educational materials and enriching field trips;
• The Volunteer Center — $20,000 for the individual and group Youth Volunteer Awards and for volunteer—related workshops for local agencies that engage young volunteers;
• Thomas H. Slater Center — $10,000 to introduce a tutoring component at the Center's INVEST after—school program;
• Westchester Jewish Community Services — $20,000 to augment Off The Street, its peer tutor/mentor program; and
• YMCA of Yonkers — $20,000 to expand and enhance YouthBridge, the Y's after—school program for middle school youth.

About The New York Life Foundation
The New York Life Foundation is the major vehicle through which New York Life Insurance Company channels contributions to national and local nonprofit organizations. Through its Nurturing the Children initiative, the Foundation supports organizations, programs and services that target young people, particularly in the areas of mentoring, safe places to learn and grow, and educational enhancement opportunities. Please visit the Foundation's Web site at www.newyorklifefoundation.org.

About New York Life Insurance Company
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 and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds. Please visit New York Life's Web site at www.newyorklife.com for more information.

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