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New York Life Has Record Year For New Hires In The United States

Largest U.S. Mutual Insurer Increases Field Force By 8.4%

NEW YORK, N.Y., March 20, 2009 – New York Life Insurance Company recruited a record number of financial representatives in 2008, with 3,534 appointments in the United States, up 8.4% over 2007.

"Job seekers recognize that, now more than ever, becoming a New York Life insurance agent is a wise career choice,” said Executive Vice President Mark W. Pfaff, who leads both the company’s Agency field force of more than 11,500 agents, and its U.S. Life Insurance business. “Our growth in 2008 proves that New York Life’s recruiting message is resonating. We offer men and women of all ages the opportunity to provide vital insurance protection and financial advice to the people in their communities, while also enjoying flexibility, independence and unlimited income potential — all while representing a company with unsurpassed financial strength, history, and training.”

In 2008, over 50% of agents recruited were either women or minorities. The number of women hired was 9% greater in 2008 than in 2007, representing 32% of all agents hired. In addition, 35% of new agents represent New York Life’s Cultural Markets, which include the Hispanic, Chinese, Asian-Indian, Korean, African-American, and Vietnamese markets. And, 2008 was a record year for the on-campus recruiting program, with over 10% of new agents hired as a result of these efforts.

“Our strong growth in agent diversity is a reflection of New York Life’s efforts to mirror the communities in which we live and work and the opportunity presented by these growing demographics,” added Mr. Pfaff.

For the second year in a row, BusinessWeek named New York Life Insurance Company one of “The Best Places to Launch a Career.” In 2008, New York Life climbed to 28th place, up from 47th in 2007, in the magazine’s selective list of employers across the nation. In addition, for the 54th consecutive year, New York Life Insurance Company dominated the Million Dollar Round Table (MDRT) in the United States with the largest number of agents being granted MDRT membership. MDRT membership is attained by less than 1 percent of the world’s financial services professionals who have demonstrated superior professional knowledge, experience and client service.

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 Investments* 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.

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

*“New York Life Investments” is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

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New York Life Has Record Year For New Hires In The United States

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