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Brian Duffy Joins New York Life to Head its AARP Program, Effective June 2006

Company's AARP Operations Have Paid $1 Billion in Benefits to Policyholders

NEW YORK, N.Y., June 5, 2006 - New York Life Insurance Company announced today that Brian Duffy has been hired as senior vice president of the company's AARP Operations in Tampa, Florida. He succeeds George Nichols III, the current head of the AARP Operations, who is joining New York Life's Office of Governmental Affairs in Washington, D.C.

"I'm very pleased that we've recruited a senior executive with a diverse background in insurance. We're looking for great things from Brian as he leads our successful AARP Operations," said Robert L. Smith, senior vice president, New York Life Insurance Company.

Mr. Duffy joins New York Life with insurance management and actuarial experience in senior positions with ACE and GE Financial. He has also held positions at Providian Financial and Colonial Penn Group. He is a Chartered Life Underwriter, a Chartered Financial Consultant, a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.

Mr. Duffy received an MBA degree from The Wharton School of the University of Pennsylvania and a B.S. degree from Widener University. He currently resides in West Chester, Pennsylvania with his wife, Deborah, and their three children.

New York Life recently marked its eleventh year as the exclusive provider of life insurance products to members of AARP, with sales in 2005 exceeding $137 million. The Operations have a track record of sales growth exceeding 20 percent annually. Through this AARP program, New York Life is America's leading direct marketer of life insurance to those over 50 years of age. Over the course of the last eleven years, the company has paid benefits to policyholders in excess of $1 billion through this program.

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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Brian Duffy Joins New York Life to Head its AARP Program, Effective June 2006

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