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New York Life Names Shelia Kearney Davidson Chief Legal Officer And General Counsel; Corporate Compliance Added To Responsibilities

Senior Vice President Thomas F. English Named Chief Insurance Counsel

NEW YORK, N.Y., OCTOBER 26, 2007 – New York Life Insurance Company announced today that Executive Vice President Sheila Kearney Davidson is named Chief Legal Officer and General Counsel. Ms. Davidson will continue to have responsibility for the Office of the General Counsel, the Office of the Secretary, and the Office of Governmental Affairs. In addition, she will now have responsibility for Corporate Compliance, the Office of Business Conduct, the Corporate Ombudsperson and the Chief Tax Counsel. She will continue to report to Chairman and Chief Executive Officer Sy Sternberg.

Sy Sternberg said, “Sheila is an extremely valuable contributor to New York Life’s senior management. Her new role will center on law and several related functions that, when combined under her direct supervision, provide her with the opportunity to develop interlocking strategies necessary for New York Life’s continued success in these important areas.”

Ms. Davidson joined New York Life in the Office of the General Counsel in 1991, after several years with the National Association of Securities Dealers. Following a number of positions within the Office of the General Counsel, she was appointed head of the Corporate Compliance Department in 1997. In 2000, she was appointed the company's general counsel and in 2004, she was elected senior vice president and general counsel. In 2005 she was elected executive vice president in charge of Law and Corporate Administration. She is also a member of the company's Executive Management Committee, which is comprised of New York Life's senior executive leadership and directs the policies and procedures for the company.

Ms. Davidson graduated cum laude from Fairfield University with a B.A. She received her J.D. from George Washington University. She and her husband, Anthony, reside in New York City with their two sons.

In the Office of the General Counsel reporting to Ms. Davidson are Senior Vice President and Deputy General Counsel Sara Badler and Senior Vice President Thomas English, who is named Chief Insurance Counsel. As Chief Insurance Counsel, Mr. English will be the company’s senior representative in various industry efforts and groups requiring thought leadership on regulatory issues. In addition to these significant external duties, Mr. English’s Office of the General Counsel responsibilities will include oversight of insurance and distribution matters. Ms. Badler will be responsible for all other areas of the Office of the General Counsel. Also, Michael Oleske is named Senior Vice President and Chief Tax Counsel.

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 New York Life’s Web site at www.newyorklife.com and www.guaranteesmatter.com for more information.

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New York Life Names Shelia Kearney Davidson Chief Legal Officer And General Counsel; Corporate Compliance Added To Responsibilities

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