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New York Life Promotes Patricia L. Barbari to First Vice President in the Individual Policy Services Department

NEW YORK, N.Y., October 19, 2006 – New York Life Insurance Company announced today that Patricia L. Barbari has been promoted to first vice president in the Individual Policy Services Department, reporting to Senior Vice President and Chief Administrative Officer Frank Boccio.

Ms. Barbari is now responsible for managing the General Office Administration in the Individual Policy Services Department, which includes the administration of all new life insurance business processing, sales support and agent contracting in 120 New York Life offices located throughout the United States. Ms. Barbari began her career with New York Life in 1989 as a director in the Corporate Quality Department, and in 1991 was promoted to assistant vice president of that Department. Beginning in 1991, she spent four years in the Corporate Audit Department as an assistant general auditor responsible for managing audits of individual operations. Ms. Barbari was transferred to the company’s Individual Policy Services Department to the position of assistant vice president in 1995. Prior to joining New York Life, Ms. Barbari was the manager of the call center at a leading data processing firm in the advertising industry.

Ms. Barbari received a Bachelor of Arts degree from Duke University and a Master of Business Administration from Columbia University. Since 1996, she holds the designation of a certified internal auditor. She is also a Registered Principal for NYLIFE Securities. She resides in Manhattan with her husband, William, and their son, Matthew.

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.

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

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New York Life Promotes Patricia L. Barbari to First Vice President in the Individual Policy Services Department

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