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New York Life Announces Executive Promotions in the Corporate Services Department

NEW YORK, N.Y., November 18, 2005 — New York Life Insurance Company announced that Ronald J. Terry was promoted to senior vice president in the Corporate Services Department. In addition, Marian M. Cope and Stuart E. Krohnengold were promoted to vice presidents, both report to Mr. Terry.

With his promotion, Mr. Terry continues to be responsible for directing the Corporate Services Department. The Corporate Services Department provides a wide variety of general services to the company including Corporate and Administrative Services, Corporate Insurance Management, Facilities Design and Office Planning, Corporate Financial Services and Reporting, and Security. These services consist of printing, copying, mail service, dining, travel, payment processing, financial management and analysis of the corporate administrative department budget, procurement, contract negotiations, supplier diversity, space planning and office standards.

Previously Mr. Terry was a first vice president. Prior to his Corporate Services assignment, Mr. Terry was first vice president and deputy treasurer he was the chief of staff for the executive vice president and chief financial officer, overseeing the coordination of the company's ratings agency process, peer company research, all short-term and long-term compensation plans and the financial oversight of the company's equity position in Express Scripts. Mr. Terry joined New York Life in 1990 as a group vice president and controller in the Group Insurance Department and was promoted to first vice president in 2003. He continues to report to Sheila K. Davidson, executive vice president in charge of Law and Administration.

Born in New York City, Mr. Terry graduated from SUNY at Buffalo with a B.S. degree in accounting, and from New York University in 1986 with an M.B.A. in finance. Mr. Terry is a Certified Public Accountant, and a member of the American Institute of CPAs (AICPA). He currently resides in Dix Hills, N.Y., with his wife, Eileen, and their two children.

Ms. Cope, as vice president in the Corporate Services Department, manages the Corporate Insurance Management division (CIM). Her primary responsibility is to identify hazard and liability risks and develop and implement measures designed to reduce such risks. Ms. Cope was an Associate General Counsel in the Office of General Counsel, where she provided legal advice for five years on insurance coverage matters, litigation and issues arising from the divestiture of NYLCare and Avanti Corporate Health Systems, Inc.’s subsidiaries (former New York Life subsidiaries). Prior to joining New York Life, Ms. Cope was vice president of Healthcare Legal Affairs and Director of Risk Management for Avanti Corporate Health Systems, Inc., a national physician practice management company.

Ms. Cope received a B.S. degree, cum laude, in nursing from Adelphi University and a J.D. from St. John's University in 1988. She currently resides in Darien, Conn., with her husband and son.

Mr. Krohnengold is now responsible for certain corporate services in the home office and Westchester campus, including mail, print and copy programs and the travel, procurement and dining programs. Previously, he was responsible for infrastructure engineering and oversaw the opening and move of the company's Westchester office facility. Mr. Krohnengold joined the company in 1988 as assistant vice president, and was promoted to corporate vice president of Group Information Systems in 1990. In April of 1995, he was named corporate vice president of the Corporate Information Department and oversaw the pilot and implementation of the company's Web site.

Mr. Krohnengold received a B.A. in political science from SUNY at New Paltz and an M.B.A. from Columbia University Business School. He resides in Scarsdale, N.Y., with his wife and two sons.

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United Sates 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 affiliate provide an array of securities products and services, as well as institutional and retail mutual funds.

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New York Life Announces Executive Promotions in the Corporate Services Department

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