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Nov. 18, 2004
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| 2003 | 2002 | |
| Assets Under Management* | $202,131 | $179,772 |
| Adjusted Operating Revenue** | $9,728 | $9,228 |
| Net Income*** | $1,120 | $1,016 |
| Adjusted Operating Earnings | $928 | $884 |
| Surplus and Asset Valuation Reserve | $10,810 | $8,779 |
| Individual Life Insurance In Force | $556,049 | $523,799 |
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*Represents Consolidated Domestic and International Insurance Company Statutory assets and third-party assets principally managed by New York Life Investment Management LLC, a wholly owned subsidiary of New York Life Insurance Company. **Adjusted Operating Revenue includes primarily premium and fee income from our insurance and non-insurance operations, both domestically and internationally. ***According to Generally Accepted Accounting Principles. |
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| Other Data | ||
| U.S.A. | International | |
| Licensed Agents | 10,700 | 16,000 |
| Employees | 8,100 | 4,000 |




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At no charge to you, a New York Life Agent — professionally trained and experienced — can help you analyze your needs and recommend appropriate solutions through insurance and financial products and concepts. Request a no-obligation review with a New York Life Agent.
New York Life Insurance and Annuity Company does not provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.
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| 2003 Financial Highlights (in millions) |



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