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New York Life Elects Sheila Kearney Davidson As Executive Vice President

Seasoned Executive Is Responsible for Law and Corporate Administration

NEW YORK, N.Y., April 18, 2005 — New York Life Insurance Company announced today that Sheila Kearney Davidson has been elected executive vice president in charge of Law and Corporate Administration at the company, reporting to Chairman and Chief Executive Officer Sy Sternberg. Ms. Davidson has responsibility for the Office of the General Counsel, the Office of the Secretary, the Office of Governmental Affairs, Human Resources, Corporate Communications, Corporate Services and Employees' Health.

Sy Sternberg, chairman and chief executive officer, said, "Sheila's promotion recognizes the increased responsibilities she has assumed over the past year, and her hard work and dedication to the company. She continues to be an important member of the senior executive team at New York Life."

Ms. Davidson joined New York Life in the Office of the General Counsel in 1991, after several years with the National Association of Securities Dealers. Following a number of positions within the Office of the General Counsel, she was appointed head of the Corporate Compliance Department in 1997. In May of 2000, she was appointed the company's general counsel and in April of 2004, she was elected senior vice president and general counsel. She is also a member of the company's Executive Management Committee, which is comprised of New York Life's senior executive leadership and directs the policies and procedures for the company.

Ms. Davidson graduated cum laude from Fairfield University with a B.A. in 1983. She received her J.D. from George Washington University in 1986. She and her husband, Anthony, reside in New York City with their two sons.

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.

Please visit New York Life's Web site at for more information.

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New York Life Elects Sheila Kearney Davidson As Executive Vice President

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