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New York Life Foundation Funds Washington Center Diversity Fellows For 2008

$50,000 Grant Enables Up to 13 Students to Participate in Elite Internships

NEW YORK, N.Y., FEBRUARY 14, 2008 – The Washington Center for Internships and Academic Seminars announced today that a grant from the New York Life Foundation will fund scholarships for up to 13 students in elite, semester-long internships. These Diversity Scholars will gain valuable work experience at government agencies and private for-profit and nonprofit organizations based in Washington, D.C.

“The Washington Center’s long-standing partnership with the New York Life Foundation enables college students of diverse backgrounds, interested in business and finance, to participate in internships at high-profile organizations in our nation’s capital,” said Michael B. Smith, president, The Washington Center. “We commend the Foundation for supporting The Washington Center’s diversity initiative, and for its ongoing commitment to preparing students to enter the 21st century workforce.”

“We are pleased to continue to support an organization that provides young adults with a once-in-a- lifetime opportunity to pursue their personal and professional goals while still in school,” said Chris Park, president of the New York Life Foundation. “These students are gaining knowledge and skills that will help them play a vital role and make a profound difference in the future of our society.”

Scholarships for the 2008 spring semester were awarded to Lindsay Perkins of Delaware State University and Abunjim Nadeen of Capital University, both of whom are interning at the Department of Commerce. Summer and fall Diversity Scholars will be named later in the year.

The New York Life Foundation Diversity Scholarships support selected students who would otherwise not be able to participate at The Washington Center. The selection process includes consideration of each applicant’s academic major and performance, professional interests, letters of recommendation and internship placement. In 2007, the Foundation funded 13 Diversity Scholarships. Since 2002, 66 college and university students have received scholarships made possible through grants provided by the New York Life Foundation.

About The Washington Center
New York Life International, LLC, which also has operations in Hong Kong, India, Argentina, Mexico, South Korea, Taiwan and Thailand, is on pace for a record year. Operating revenue for New York Life International, LLC, was more than $1.4 billion for the first nine months of 2007, a 19% increase from 2006, while insurance sales were more than 20% for the first nine months. Haier New York Life delivered record results in 2007; in fact, the joint venture’s insurance sales increased more than 45% in the first nine months of last year www.twc.edu

About The New York Life Foundation
The New York Life Foundation is the major vehicle through which New York Life Insurance Company channels contributions to national and local nonprofit organizations. Through its Nurturing the Children initiative, the Foundation supports organizations, programs and services that target young people, particularly in the areas of mentoring, safe places to learn and grow, and educational enhancement opportunities. Since 1979, the New York Life Foundation has donated more than $100 million to national and local non-profit organizations. Please visit the Foundation’s Web site at www.newyorklifefoundation.org

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New York Life Foundation Funds Washington Center Diversity Fellows For 2008

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