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New York Life Names Gary Scofield Senior Vice President & Chief Actuary

NEW YORK, N.Y., July 10, 2007–New York Life Insurance Company announced today that Gary Scofield has been promoted to senior vice president and chief actuary, reporting to Executive Vice President and Chief Financial Officer Michael Sproule.

Mr. Scofield is now responsible for the Office of the Chief Actuary, overseeing Company wide actuarial activities including certifying company reserves, establishing appropriate capital requirements and overseeing business unit product pricing. He also is responsible for all actuarial staffing and talent development and for ensuring high standards of actuarial practice. Before joining the Office of the Chief Actuary last year, Mr. Scofield was vice president and actuary in the Individual Life Department where he functioned as head pricing actuary.

Prior to re-joining New York Life, Mr. Scofield held officer level pricing, marketing and financial positions with several life insurance and reinsurance companies. Before that, he was an actuary with New York Life from 1997 to 1998.

Mr. Scofield received a Bachelor of Arts degree from the State University of New York at Oswego. A member of the American Academy of Actuaries (M.A.A.A.), Mr. Scofield attained Fellowship in the Society of Actuaries (F.S.A.) in 1989. Mr. Scofield is also a member of the board of directors of Save-A-Pet Animal Rescue, Inc., a non-profit organization dedicated to animal welfare.

He currently resides in Stony Brook, NY with his wife, Dori, and their four 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, 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.

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

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New York Life Names Gary Scofield Senior Vice President & Chief Actuary

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