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Mark L. Feidler and Thomas C. Schievelbein Elected to New York Life's Board of Directors

NEW YORK, N.Y., May 9, 2006 – Mark L. Feidler and Thomas C. Schievelbein have been elected members of the board of New York Life Insurance Company, New York Life's Chairman and Chief Executive Officer, Sy Sternberg, announced today. The election brings the number of New York Life board members to 13. Mr. Feidler, 49, and Mr. Schievelbein, 52, will join the board's Insurance and Operations Committee.

"I'm pleased to announce that the board of directors has elected two outstanding individuals as directors of New York Life Insurance Company. They are bringing a wealth of business leadership experience to a board filled with talented leaders from diverse industries and the government," said Sy Sternberg. "Tom and Mark are accomplished professionals who will help us build upon the solid foundation of growth and success that our esteemed board members have helped establish for New York Life."

Mr. Feidler is president and chief operating officer for BellSouth Corporation, the principal telecommunications carrier in the southeast, headquartered in Atlanta. He joined BellSouth in 1991 as director of strategic transactions and held positions of increasing responsibility until being named president and chief operating officer and elected to the Board of Directors effective July 1, 2005. Prior to his BellSouth career, Mr. Feidler was a principal in the investment banking firm The Breckenridge Group. From 1986 to 1990, he worked in the corporate finance department of the Robinson–Humphrey Company, and from 1981 to 1986 he practiced corporate law at the Atlanta law firm of King & Spalding.

Mr. Feidler received his bachelor's degree in economics from Duke University and his law degree from Vanderbilt University Law School. He serves on the boards of BellSouth Corporation, Cingular Wireless, and Great Schools Atlanta.

Mr. Feidler and his wife, Buffie, reside in Atlanta, Georgia. They have two children.

Mr. Schievelbein is the former president of Northrop Grumman Newport News, a subsidiary of Northrop Grumman Corporation, and the nation's sole designer, builder, and re-fueler of nuclear-powered aircraft carriers. He began his career with Newport News in 1987 and held positions of increasing responsibility until being named president of Northrop Grumman Newport News in 2001. He retired from the company in 2004. He joined Newport News after nearly 12 years in management with General Electric Company.

Mr. Schievelbein received his bachelor's degree in marine engineering from the United States Naval Academy and his master's degree in nuclear engineering from the University of Virginia. He serves on the boards of the U.S. Naval Academy Foundation and McDermott International, Inc. He is also a founding member and chairman of the Virginia Career Education Foundation.

Mr. Schievelbein and his wife, Betty, reside in Williamsburg, Virginia.

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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Mark L. Feidler and Thomas C. Schievelbein Elected to New York Life's Board of Directors

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