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New York Life Foundation Grants $265,000 To Support Junior Achievement Programs

Grant Directs Resources and Volunteers to Schools in Low-Income Communities

NEW YORK, N.Y., February 17, 2005 — The New York Life Foundation bolstered its commitment to helping young people fulfill their potential with a recent gift to JA Worldwide (Junior Achievement). This grant will help JA Worldwide deliver its economics education programs to students in low-income communities nationwide and encourage Junior Achievement franchise offices to recruit new classroom volunteers.

"JA Worldwide is grateful for the tremendous support of the New York Life Foundation to help teach students across the nation, from kindergarten through 12th grade, about business, workforce readiness, and entrepreneurship," said David S. Chernow, president and chief executive officer of JA Worldwide. "This generous gift, coupled with the help of new classroom volunteers, enables us to reach an additional 10,000 students and help them achieve success in life." p>

"We are proud to continue to support JA Worldwide in its efforts to provide at-risk children with the knowledge they need to become productive, successful adults," said Sy Sternberg, chairman and chief executive officer of New York Life and chairman of the New York Life Foundation. "This partnership underscores the Foundation's ongoing commitment to its Nurturing the Children initiative."

This grant supports Junior Achievement programs in 48 locations, with major support directed to the following locations: Atlanta; Cleveland; Clinton, N.J.; Dallas; Kansas City, Kans.; Minneapolis, Minn.; New York; Parsippany, N.J.; and Tampa, Fla. Junior Achievement's curricula uses volunteers from the community who educate and inspire young people about business and the free enterprise system.

In addition to providing the critical financial resources needed to implement JA programs, this grant requires JA franchise offices to recruit new volunteers within communities, including college students, small business owners and retirees. The New York Life Foundation has supported Junior Achievement since 1961.

About The New York Life Foundation
The New York Life Foundation (www.newyorklifefoundation.org This link will open an external site in a new browser. ) is the major vehicle through which New York Life Insurance Company channels contributions to national and local nonprofit organizations. Through its Nurturing the Children initiative, the Foundation supports organizations, programs and services that target young people, particularly in the areas of mentoring, safe places to learn and grow, and educational enhancement opportunities. Through Volunteers for LIFE, its national community involvement initiative, New York Life also encourages volunteer participation by its employees, agents and retirees.

About JA Worldwide (Junior Achievement)
JA Worldwide is the world's largest organization dedicated to educating young people about business, economics and free enterprise. Through a dedicated volunteer network, JA Worldwide provides in-school and after-school programs for students in grades K-12. JA Worldwide offers educational programs that focus on seven key content areas: business, citizenship, economics, entrepreneurship, ethics/character, financial literacy and career development. Today, 145 offices reach four million students in the United States, with more than 2.5 million students served by operations in 98 countries worldwide. For more information, visit www.ja.org This link will open an external site in a new browser. .

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New York Life Foundation Grants $265,000 To Support Junior Achievement Programs

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