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Haier New York Life Appoints Xiaoxia Zhao As President and CEO

SHANGHAI, PRC, March 26, 2007 – Haier New York Life Insurance Company Limited, the joint venture company between New York Life Insurance Company and China’s Haier Group, has named Xiaoxia Zhao as its new president and chief executive officer. The appointment was approved by China’s Insurance Regulatory Commission (CIRC) on March 13th.

“Xiaoxia’s appointment is adopted unanimously by Haier New York Life’s board and we look forward to great achievements in the future under his leadership,” said Cui Shaohua, director of the Corporate Finance Department, Haier Group, and chairman of Haier New York Life.

“Xiaoxia brings a tremendous amount of management experience in the insurance industry and we are confident that he will continue to build upon the momentum and grow our business in China as president and CEO of Haier New York Life,” said John Harrison, chief executive officer - Asia region of New York Life International, LLC, the international arm of New York Life Insurance Company, and vice chairman of Haier New York Life.

Mr. Zhao has over twenty years of management experience in the property and casualty, broker and life insurance industry. He has held senior positions in various international divisions of the People’s Insurance Company of China, and later founded Huatai Insurance Brokers, one of the first insurance agencies and joint venture brokers in China.

Most recently, Mr. Zhao was director of the board and executive vice president for AXA-Minmetals Assurance Co., Ltd., where he was responsible for establishing alternative distribution capabilities, driving agency growth and performance in the Shanghai branch and East Region, and gaining regulatory approval for the group insurance business.

He is currently a director of the China Insurance Association and China Insurance Institution, as well as director of the Shanghai Insurance Association. Mr. Zhao is a graduate of the Law School at Beijing University.

About Haier New York Life
Haier New York Life Insurance Company Limited, established in 2002 in Shanghai, is committed to providing its customers with a comprehensive range of life insurance products and services. The company is now operating in nine cities including Shanghai, Chengdu, Qingdao, Nanjing, Deyang, Yantai, Suzhou, Wuxi and Changzhou.

About Haier Group
Haier is the world’s fourth largest white goods manufacturer and one of China’s Top 100 IT Companies. Haier has 240 subsidiary companies and 30 design centers, plants and trade companies and more than 50,000 employees throughout the world. Haier specializes in technology research, manufacturing, trading and financial services. Haier’s 2005 global revenue was RMB103.9 billion (US$12.8 billion).

About New York Life
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 offer life insurance, retirement income, investments, 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. New York Life International, LLC, the international arm of New York Life Insurance Company, offers insurance products through its subsidiaries and affiliates in China, Hong Kong, India, Argentina, Mexico, the Philippines, South Korea, Taiwan, and Thailand.

Please visit New York Life’s Web site at www.newyorklife.com.

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Haier New York Life Appoints Xiaoxia Zhao As President and CEO

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