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Mark E. Sanders Joins New York Life as Chief Technology Officer

Company Also Announces Additional Executive Appointments in Corporate Information Department

NEW YORK, N.Y., September 12, 2006 — New York Life Insurance Company announced today that Mark E. Sanders has joined the company as Chief Technology Officer and Senior Vice President of the Corporate Information Department, reporting to Chief Operating Officer and Senior Vice President Eileen Slevin. He joins New York Life from BKF Asset Management where he served as Chief Technology Officer.

In addition, John A. Natale has been promoted to First Vice President and Mark J. Draghi has been promoted to Vice President. Mr. Natale reports to Ms. Slevin and Mr. Draghi reports to First Vice President Alex Burbatsky.

Mr. Sanders is responsible for New York Life’s information technology vision, strategy and planning, overseeing the Enterprise Architecture and Engineering division in the Corporate Information Department. In addition to serving as the Chief Technology Officer for BKF Asset Management prior to joining New York Life, he served as Chairman and Chief Executive Officer of BevAccess, a combination online procurement site for licensed retail buyers, and trade media group for the alcohol beverage industry. Mr. Sanders was also a Senior Director for Merrill Lynch, and held leadership positions at Salomon Brothers Inc., J.P. Morgan, Sun Microsystems and Grumman Aerospace.

Mr. Sanders is currently the President of the Wall Street Technology Association (WSTA), and a member of both the Institute of Electrical and Electronics Engineers (IEEE) and the Society of Information Management (SIMNY). Mr. Sanders holds a B.S. degree in Electrical Engineering and an executive MBA in Management.

He resides in Merrick, Long Island with his wife and two sons.

Mr. Natale is now responsible for the I-Net Competency Center in the Corporate Information Department, overseeing all aspects of web development including application design engineering, enterprise Web application usability and Internet engineering. He is also responsible for one of the company’s most mission-critical systems, known as New Business in the 21st Century. Mr. Natale joined New York Life as Vice President in 2000. Before joining New York Life, he was Vice President of Internet Development and Program Management at Citibank/eCiti and Vice President of Direct Brokerage Operations and Development at American Express Company. He also worked for several years as a Certified Public Accountant at Peat, Marwick, Mitchell & Co.

Mr. Natale received a Bachelor of Business Administration in Accounting from Adelphi University in Garden City, New York, and a Master of Science in Computer Science from Barry University in Miami, Florida.

He resides in Allendale, NJ with his wife and two children.

Mr. Draghi is now responsible for the strategy and operational performance of New York Life’s Service Delivery organization. Specifically, he oversees the Operations Service Management division, which manages the operation of the company’s portfolio of business systems. As head of this area, Mr. Draghi has direct responsibility of the daily technology performance and ongoing improvement efforts for the enterprise technology infrastructure in support of agents, general offices, service centers and business units.

Mr. Draghi joined New York Life in 2000 as a Corporate Vice President of the Performance Management division within Service Delivery. Prior to joining New York Life, Mr. Draghi spent ten years with Citigroup and Citicorp in the Global Technology Infrastructure and Global Information Network areas, where he held positions of increasing responsibility leading up to Director of Vendor Management/Performance Measurement and Analysis. Prior to that, Mr. Draghi worked at Drexel Burnham Lambert and Merrill Lynch in various technology-related positions.

Mr. Draghi received a Bachelor of Science degree from Fordham University.

He resides in Long Valley, NJ with his wife and five children.

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 E. Sanders Joins New York Life as Chief Technology Officer

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