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New York Life Names Frank M. Boccio Executive Vice President And Chief Administrative Officer

Veteran Executive Adds Corporate Information, Corporate Services to His Portfolio

New York, N.Y., October 24, 2007–New York Life Insurance Company announced today that Frank Boccio has been elected executive vice president and chief administrative officer, reporting to President and Chief Operating Officer Ted Mathas. Mr. Boccio has responsibility for Individual Policy Services, Corporate Information, Corporate Services, Corporate Internet and Business Resiliency.

Ted Mathas, president and chief operating officer, said, “Frank is a superb administrator and his leadership has enabled us to improve customer service and agent service in many ways. Frank’s new role will allow him to work even more strategically across several key areas so that New York Life continues to offer world-class service, systems and operational capabilities.”

Mr. Boccio has held a variety of managerial positions at the company with areas of responsibility including underwriting, claims, customer service, systems, administration and human resources. He joined New York Life in 1974 in the Group Insurance Department and was promoted to manager of administrative services in 1980 and assistant vice president in 1984. During the next several years, his responsibilities expanded through a series of promotions and departmental moves and in 1989 he was promoted to vice president.

In 1994, Mr. Boccio was interim head of operations for New York Life’s new AARP Life Insurance Program. In this capacity, he was responsible for managing systems development, customer service, human resources, facilities and administration. In 1995, he was interim head of human resources for the merger of New York Life’s Group operations and Sanus into the new subsidiary, NYLCare Health Plans, Inc. Also that year, he became senior vice president in charge of individual policy services. In 1998, Mr. Boccio was elected chair of the Management Advisory Council. Two years later, he was appointed to the Executive Management Committee, which is responsible for establishing management policies in all areas of the company’s business and affairs. In 2002 Mr. Boccio was named chief administrative officer, Life and Annuity.

Mr. Boccio earned his B.A. degree in political science from Queens College, The City University of New York.

Among those reporting to Mr. Boccio are Eileen Slevin, senior vice president and chief information officer, Corporate Information; Ronald Terry, senior vice president, Corporate Services; Gary Miller, senior vice president, Individual Policy Services; and Patricia L. Barbari, who has been promoted to senior vice president, Individual Policy Services.

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. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. 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 www.newyorklife.com and www.guaranteesmatter.com, a site dedicated to retirement issues, challenges, and solutions, for more information

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New York Life Names Frank M. Boccio Executive Vice President And Chief Administrative Officer

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