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New York Life Appoints Christopher Blunt As Chief Operating Officer of Life and Annuity, its Largest Business Unit

Goldfinger Named Senior Advisor To Vice Chairman of the Board Mathas

NEW YORK, N.Y., March 5, 2007 – New York Life Insurance Company today announced that Christopher O. Blunt is appointed senior vice president and chief operating officer for its Life and Annuity operations, the company’s largest revenue generator. Mr. Blunt was previously executive vice president of New York Life Investment Management, a company subsidiary, where he was in charge of Retail Investments, Marketing and Information Technology.

The company also announced that Senior Vice President Sam Goldfinger is appointed Senior Advisor to Ted Mathas, vice chairman of the board and chief operating officer of New York Life Insurance Company. Mr. Goldfinger previously held the COO position in Life and Annuity that Mr. Blunt is assuming.

Mr. Mathas said, “We’ve asked Sam Goldfinger to become Senior Advisor to me on broader strategic matters across all company operations. Sam’s deep understanding of our business and his good judgment have served Life and Annuity very well for many years, and leveraging his skills and wise counsel across all our businesses will be extraordinarily valuable.”

Mr. Mathas continued, “Chris Blunt led Retail Investments to a 32% increase in sales in 2006, and his background in product development, marketing, distribution, and technology will serve Life and Annuity well. Chris’s marketing and distribution orientation will be invaluable in realizing the full potential inherent in our product portfolio and driving future growth of our core life and annuity business.” Mr. Blunt will report to Mr. Mathas.

Reporting to Mr. Blunt will be four New York Life executives with deep experience in Life and Annuity. They are Scott Berlin, head of Individual Life; John Meyer, head of Individual Annuity; Joel Steinberg, Life and Annuity’s chief financial officer, and Robert Rock, Life and Annuity’s chief investment officer.

The Life and Annuity operations, the company’s largest unit, accounted for more than $7.5 billion in operating revenue in 2006. Life and Annuity includes all domestic life insurance and annuity products as well as agency management and services, marketing, client service and financial management. Other senior executives in Life and Annuity reporting to Mr. Mathas and the corporate Office of the Chief Operating Officer include Frank Boccio, senior vice president and chief administrative officer for Life and Annuity, Mark Pfaff, senior vice president in charge of Agency Distribution, and Paul Pasteris, senior vice president for Market Development and Strategic Planning.

“Life and Annuity is the heart of New York Life,” said Mr. Mathas. “We have a vibrant career Agency system and we are confident that our talented leadership team in the field and in the Home Office will help propel us to new heights in the years ahead. Our company is committed to remaining strong and secure for our millions of policyholders and to providing top quality products through our valued agents.”

Chris Blunt joined New York Life Investment Management in 2004 to head its MainStay Investments group. His responsibilities were later expanded to executive vice president for Retail Investments, Marketing and Information Technology. He holds an MBA in Finance from The Wharton School of the University of Pennsylvania and a bachelor's degree from the University of Michigan. His broad professional experience includes serving as a managing director with Goldman Sachs, as chief marketing officer with Merrill Lynch Investment Managers, and as CEO of GivingCapital Inc., a wealth management solutions provider that helped individuals to balance philanthropic interests with their estate planning needs.

Sam Goldfinger joined New York Life in 1975 and held positions of increasing responsibility leading to his election as a senior vice president in 1992. He became chief financial officer for Individual Operations in 1995, and was elected to the company’s Executive Management Committee in 1997. He was appointed COO for Life and Annuity in 2006. Mr. Goldfinger holds a bachelor’s degree from Yeshiva University and a master’s degree from Columbia University.

New York Life Insurance Company, a Fortune 100 company, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Founded in 1845 and headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investment Management LLC, a New York Life affiliate, 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 Appoints Christopher Blunt As Chief Operating Officer of Life and Annuity, its Largest Business Unit

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