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New York Life and Rainbow/PUSH Coalition Launch Scholarship Program Benefiting Disadvantaged Students

NEW YORK, Jan 15, 2004 (BUSINESS WIRE) -- New York Life Insurance Company, a Platinum sponsor of the Seventh Annual Rainbow/PUSH Coalition Wall Street Project conference founded by Reverend Jesse L. Jackson, will today announce the launch of a special scholarship program benefiting disadvantaged college students. This announcement will take place at the One Thousand Churches Connected Economic Empowerment breakfast that kicks off the third day of the Rainbow/PUSH Wall Street annual conference at the Sheraton New York Hotel and Towers.

"We are pleased that New York Life has joined us in this important endeavor, and we urge other corporations to follow its example of bringing educational programs to underserved communities," said Rev. Jackson. "The Rainbow/PUSH 2004 Wall Street Project conference helps to open the doors for economic opportunity by creating pathways to capital, technology, education and jobs."

"By working closely with Rainbow/PUSH to improve consumer education through community churches as well as scholarship support for college students, New York Life is taking meaningful steps to enhance learning opportunities for those in need," said Sy Sternberg, chairman and chief executive officer of New York Life. "We are proud to continue our support of the Wall Street Project conference, which encourages economic empowerment by improving financial literacy and access to capital."

The Cerilo A. McSween New York Life/PUSH Excel Scholarship Program will benefit college students from underserved communities in Atlanta, Detroit, Los Angeles, Chicago, and metropolitan New York who are majoring in insurance or business studies. This program honors Cerilo McSween, New York Life's first African-American agent who joined the company in 1957. For 26 consecutive years, Mr. McSween qualified for the prestigious Million Dollar Round Table, the premier association of insurance professionals recognized for superior sales and service. He is also a member of the Rainbow/PUSH Coalition's Board of Directors.

New York Life is also a participant in the Wall Street Project Career Expo designed to further financial services companies' efforts to recruit and retain a diverse pool of qualified employees.

New York Life formed a partnership in 2002 with Rainbow/PUSH Coalition's One Thousand Churches Connected to provide financial education seminars at community churches across the United States. Through this effort, thousands of families in seven cities will receive information on such critical topics as life insurance, annuities, long-term care insurance and college savings plans to enable them to take control of their financial well being.

The Mission of the Rainbow/PUSH Coalition is to defend, protect and gain civil rights; to even the playing field in all aspects of American life; and to secure peace in the world. The Rainbow/PUSH Coalition is a multiracial, multi-issue, international membership organization founded by Rev. Jesse L. Jackson, Sr. The Rainbow/PUSH Coalition is uniting people of diverse ethnic, religious, economic and political backgrounds to make America's promise of "liberty and justice for all" a reality.

One Thousand Churches Connected is an initiative of the Rainbow/PUSH Coalition designed to bring the message of economic responsibility to families through churches across the country. By empowering underserved communities through the One Thousand Churches Connected program, the vision of economic stability through the foundation of the community, the church, can be realized.

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.


New York Life, New York
Sarah Tomalski, 212-576-5897

Edelman, New York
Marcy Kaplicer, 212-819-4854

Rainbow/PUSH, New York
Lonnie Soury, 212-414-5857

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New York Life and Rainbow/PUSH Coalition Launch Scholarship Program Benefiting Disadvantaged Students

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