Maryann Ingenito Promoted to Senior Vice President; del Vecchio, Young to First Vice President

NEW YORK, N.Y., November 8, 2005 — New York Life Insurance Company announced today that Maryann L. Ingenito was promoted to senior vice president in the Agency Department. In addition, Jules del Vecchio and Daniel J. Young were promoted to first vice presidents in the Agency Department. Ms. Ingenito and Mr. Young report to Gerard Rocchi, senior vice president in the Agency Department, and Mr. del Vecchio reports to Paul Morris, senior vice president in charge of the Agency Department.

Ms. Ingenito is responsible for the department's financial and administrative functions and has taken on responsibility for agency systems and agency standards. Ms. Ingenito has worked for New York Life for more than 25 years, beginning as an assistant accountant in 1977. In 1986, she was promoted to assistant vice president, then to corporate vice president in 1988. She became vice president in 1990, and first vice president in 2003. Before joining the Company, Ms. Ingenito was a staff accountant at Price Waterhouse.

Ms. Ingenito received a B.B.A. in accounting from Baruch College of CUNY in 1977. She was born in Brooklyn, N.Y., and lives in Staten Island, N.Y., with her husband, Robert.

Mr. del Vecchio, as first vice president, is now responsible for coordinating more than 120 meetings a year in more than 70 locations. He joined New York Life as an agent in the White Plains General Office in 1970. In 1980, he was promoted to general manager of the Essex General Office, and also served as associate general manager in the Westchester General Office and general manager in both the Eastchester and Stamford General Offices. Mr. del Vecchio served as an executive management consultant in the Individual Insurance Department beginning in 1986 and was elected a vice president in 1988. Mr. del Vecchio assumed responsibility for the Incentive and Meetings unit of the Agency Department in 1997.

Mr. del Vecchio obtained a B.A. from Parsons College in 1967, and both Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC) designations from The American College in Bryn Mawr, Pa. Mr. del Vecchio is also a member of the board of directors of Green Mountain Coffee Roasters, Inc. of Waterbury, Vermont. He resides in Larchmont, New York, with his wife, Phyllis, and their three sons.

Mr. Young, also a first vice president of New York Life, is president of NYLIFE Securities, the company's broker-dealer, as well as Eagle Strategies, the company's registered investment adviser. In his new role, Mr. Young is also responsible for the distribution aspects of New York Life's retirement income initiative.

Previously, Mr. Young was an assistant general counsel in New York Life's Office of General Counsel serving as an in-house attorney. Prior to joining New York Life, he practiced law in New York City, and also served as a judicial law clerk for the Honorable Max Rosenn, who sits on the U.S. Court of Appeals for the Third Circuit.

Mr. Young received his B.A. degree with honors and distinction from Stanford University, and his J.D. degree with honors from the University of Chicago Law School. Originally from Harrison, N.Y., he currently resides in Suffern, N.Y. with his wife, Meredith, and their three daughters.

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 affiliate provide an array of securities products and services, as well as institutional and retail mutual funds.

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