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New York Life Promotes Agency Department Executives

NEW YORK, N.Y., September 28, 2006 — New York Life Insurance Company announced today that Elizabeth W. McCarthy was promoted to first vice president in the Agency Department. In addition, Marijo F. Murphy and Michael A. Yashnyk were promoted to vice presidents in the Agency Department.

Ms. McCarthy is now responsible for the company’s Sales Promotion and Communications Division, which oversees the strategic communications planning, business and event communications, sales promotion, Web strategy and publishing, editorial services, design services and production areas, supporting more than 10,000 licensed New York Life agents in 150 offices nationwide. Ms. McCarthy joined New York Life in 2003 as vice president of Agency Communications. Prior to joining New York Life, Ms. McCarthy was a first vice president at Morgan Stanley, where she served as the director of marketing communications for the Individual Investor Group.

Ms. McCarthy received an A.B. in Economics cum laude from Harvard College, where she was an editor of The Harvard Crimson, the university’s daily student newspaper. She currently resides in South Orange, N.J. with her husband, Brian O’Leary, and their three children.

Ms. Murphy is now responsible for the development and implementation of field supervisory systems in the Agency Standards Division of the Agency Department. Ms. Murphy re-joined New York Life in 1996 from Whitman Breed Abbott & Morgan, where she worked for two years as an associate attorney. She was re-hired as an associate legislative vice president in the Office of Governmental Affairs. She was promoted to assistant general counsel in 2000 and transferred to the Office of the General Counsel. In 2003, she moved to NYLIFE Securities’ Standards Division as a corporate vice president, and in 2005 moved to Agency Standards in the Agency Department.

Ms. Murphy earned a Bachelor or Arts degree from SUNY at Albany and a juris doctorate degree from St. John’s University School of Law. She currently resides in Yorktown Heights, N.Y. with her husband, Patrick, and their three children.

Mr. Yashnyk, as vice president in the Agency Department and chief operating officer of NYLIFE Securities and Eagle Strategies, is now responsible for overseeing various divisions, including financial management and reporting, administration, investment advisory services, financial planning, product development, marketing, communications and sponsored marketing divisions. Mr. Yashnyk re-joined New York Life in 1995 as a senior agents benefits consultant in the Agency Department, having eight years of prior service with New York Life in various roles, including office manager. He was named director in Corporate Audit in 1996 and was promoted to assistant vice president that year and subsequently corporate vice president in 1999 in the Agency Department. He assumed his current responsibilities as chief operating officer at NYLIFE Securities and Eagle Strategies at the end of 2004.

Mr. Yashnyk earned a Bachelor of Science degree in business administration from Bowling Green State University in Bowling Green, Ohio. He resides in Farmingdale, N.Y. with his wife, Liz Yashnyk, and their three 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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New York Life Promotes Agency Department Executives

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