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New York Life Appoints Gary R. Bennett to Run Hong Kong Operation

Succeeds John V. Jones as President & CEO

NEW YORK, N.Y., January 28, 2005 — New York Life International, the overseas arm of New York Life Insurance Company, has named Gary R. Bennett to succeed John V. Jones as president and CEO of New York Life Insurance Worldwide Ltd., the company's Hong Kong subsidiary.

"We were fortunate to attract Gary Bennett, a seasoned international executive, to serve as CEO in our Hong Kong operation. John and I are confident that Gary will continue to build the momentum for our business in Hong Kong as president and CEO of New York Life Insurance Worldwide Ltd.," said David J. Skinner, chief executive officer - Asia region of New York Life International. "John Jones has capably led the Hong Kong operation for the last three years, during what has been an enormously challenging period for the industry."

"I am absolutely thrilled to be joining New York Life in Hong Kong at such an exciting time," said Mr. Bennett. "As many of you know, Hong Kong has been my home before and I am very excited to be back and to have the opportunity to join an organization of such great strength, quality and history. I am very confident that together we can continue to grow and improve our positioning in the market. I am honored to be part of such a great team and together we can be assured of further success."

Mr. Bennett has spent the majority of his career in the life insurance industry having worked for a number of companies in both Australia and Asia. He has extensive experience in Hong Kong as country manager for CMG several years ago.

Most recently, Mr. Bennett was managing director, North Asia, for Prudential Corporation Asia (PCA). He was a member of the PCA regional board and the Life ExCo and chairman of the life insurance companies in Japan and Korea as well as a Director of PCA Asset Management Japan. Mr. Bennett joined PCA as a regional director in 2000 and was responsible for the development of strategic plans to grow Prudential's businesses around the region with the main emphasis in North Asia. Mr. Bennett and his wife, Jill, have a 7-year old daughter.

Mr. Jones, who is retiring, has over 30 years of experience in the life insurance industry in various assignments around the world, including positions in sales and sales management as well as general management. He has served as president and CEO in New York Life Insurance Worldwide Ltd. since January 2002. Mr. Jones has attained the Chartered Life Underwriter designation from the American College of Life Underwriters and has served actively in the industry's professional affiliations. He was chairman of the Life Underwriter Training Council Indonesia Board of Directors during 1998-1999 and has served on Life Insurance Marketing & Research Association (LIMRA) Indonesia's Board of Directors. Prior to joining New York Life, Mr. Jones was the President Director of Aetna International's Indonesia operation.

About New York Life
New York Life Insurance Worldwide Ltd. was established in Hong Kong in 1988 and is committed to providing its customers with a comprehensive range of life and medical insurance products and services. It is a wholly owned subsidiary of New York Life International, LLC, the overseas arm of New York Life Insurance Company.

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 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.

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New York Life Appoints Gary R. Bennett to Run Hong Kong Operation

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