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Dan Ting Appointed Head of New York Life Operation in Taiwan

Dan Ting Appointed Head of New York Life Operation in Taiwan

NEW YORK, Oct 5, 2004 — New York Life International, the overseas arm of New York Life Insurance Company, has named Dan L. Ting president and CEO of New York Life Insurance Taiwan Corporation, the company's wholly-owned subsidiary in Taiwan.

Mr. Ting, who will begin his duties in early October, replaces Stan Silberstein who had been acting CEO since May of this year. Mr. Silberstein replaced Grace Jen, who has been appointed to the new position of vice president, business development for New York Life International's Greater China region.

Mr. Ting is a seasoned life insurance executive with experience leading successful financial services companies in Taiwan. Mr. Ting joins New York Life after four years with Prudential Life Assurance, Plc as the CEO of that company's Taiwan operation. From 1990 until 2000, Mr. Ting was CEO of ING Life Taiwan. He began his career with American International Group, working for the company in roles of increasing responsibility in the United States, Hong Kong, and Taiwan.

"I can't think of anyone more qualified to lead New York Life in Taiwan than Dan Ting," said David Skinner, CEO, Asia Region, New York Life International. "Our Taiwan operation is poised for strong growth after adjusting to a very adverse interest rate environment. With his exceptional management skills and deep knowledge of the Taiwan insurance landscape, I am confident Dan will be able to lead our company to continued profitability and an increasing share of the competitive Taiwan life insurance market."

"I'm excited about the opportunity to lead New York Life in Taiwan," said Mr. Ting. "New York Life is in a good position to resume its strong growth in Taiwan because of the company's excellent distribution capabilities. Of course, New York Life is known around the world for exceptional life insurance agents and that will be no different here in Taiwan, but the company has also built an innovative direct marketing capability. I intend to grow both channels to get our products before the Taiwanese people."

Mr. Ting is actively involved in insurance industry associations in Taiwan. He serves as the chairman of the insurance committee of the Taipei American Chamber of Commerce, he is a member of the board of governors of the R.O.C. Life Insurance Association, and he is an executive board member of LIMRA, Taiwan. Mr. Ting, age 55, resides in Taipei.

About New York Life International:

New York Life International offers insurance products through its subsidiaries and affiliates in Hong Kong, India, Argentina, Mexico, the Philippines, South Korea, Taiwan, Thailand, and Shanghai, China. The company has 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:
Lidya Fresnedo
New York Life
212-576-5382

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Dan Ting Appointed Head of New York Life Operation in Taiwan

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