New York Life Appoints Craig Gill As Senior Vice President

Human Resources Professional To Oversee Department

NEW YORK, N.Y., May 2, 2005 — New York Life Insurance Company announced today that Craig Gill has been appointed senior vice president in charge of the Human Resources Department at the company, reporting to Executive Vice President Sheila Davidson. Mr. Gill will oversee the Human Resource Department specifically focusing on building service delivery to New York Life employees and retirees and incorporating human resource best practices of the Fortune 500.

"Craig has in-depth experience in human resources service delivery, organizational design and talent management and is well suited to lead the Human Resources Department into the best practices of the 21st century," said Sy Sternberg, chairman and chief executive officer, New York Life Insurance Company. "I'm confident Craig will make meaningful contributions to all dimensions of our Human Resources activities."

Mr. Gill joins New York Life from Deloitte & Touche where he served as the head of a human capital practice. Prior to Deloitte & Touche he spent 25 years with AT&T (later Lucent), where he worked in sales and human resources.

Mr. Gill graduated from Bucknell University with a B.A. in English. He resides in Morristown, New Jersey.

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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