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New York Life Names Chief Diversity Officer

Vice President Katherine O'Brien To Build On Company's Track Record of Success

NEW YORK, N.Y., February 22, 2006 — New York Life Insurance Company announced today the formal creation of a diversity office and the appointment of a chief diversity officer. Katherine O'Brien has been appointed vice president and chief diversity officer, reporting to Sheila Davidson, executive vice president in charge of Law and Corporate Administration.

"New York Life is an Employer of Choice, recognized for its commitment to diversity and inclusion policies. To continue this success and propel New York Life forward, we have decided to formalize an office dedicated to diversity, with a full–time diversity officer overseeing the function," said Sy Sternberg, chairman and chief executive office, New York Life. "What makes New York Life The Company You Keep is that we continually work to improve all facets of our business, and diversity is yet another area where we will not be complacent."

The diversity office will identify and implement best practices to drive the continued progress of our Company in the areas of recruitment and training of a diverse workforce, development and promotion of minority and women employees, and the maintenance of an environment of inclusion.

As chief diversity officer, Ms. O'Brien will oversee this function. Also staffing this function will be Assistant Vice President Andrew Frazier, reporting to Ms. O'Brien, assisting in achievement of our diversity and inclusion goals.

Ms. O'Brien and Mr. Frazier will build on New York Life's success as a recognized Employer of Choice in the diversity arena. New York Life is consistently acknowledged by external diversity organizations, earning most recently recognitions from ESSENCE magazine, as an outstanding company for black women; from Family Digest, as one of the best companies for African Americans; from Profiles in Diversity Journal, as one of the top 10 companies for innovation in diversity; from Latin Business, for its commitment to diversity; from Latina style, as one of the 50 best companies for Latinas to work for; from Diversity Inc., as one of the top 50 companies for diversity; from Hispanic magazine, as one of the top 100 companies for Latinos; and Hispanic Trends, as one of the top 50 companies for supplier diversity.

Ms. O'Brien joined New York Life in 1995 as a litigator in the Office of the General Counsel and has held positions of increasing responsibility in employment litigation. Most recently she has worked with Human Resources, managing benefits compliance and administration. Prior to joining New York Life, Ms. O'Brien worked with several law firms in New York, including Christy and Viener, in general commercial litigation. She holds a J.D. degree from Brooklyn Law School and a B.A. degree from Wesleyan University. She resides in New York City.

Mr. Frazier joined New York Life seven years ago through the MBA Management Associate Rotational Program. At New York Life he had most recently worked as assistant vice president in the Corporate Services Department. He has also worked in finance and investment roles. Prior to joining New York Life, Mr. Frazier was a U.S. Navy Supply Officer. Mr. Frazier holds an MBA from New York University's Stern School of Business and a bachelor's degree from MIT. He resides in Montclair, 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, retirement planning and trust 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 Names Chief Diversity Officer

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