A New Look for Variable Annuities in New York; USAllianz Releases 5% GMIB Product Enhancement.

MINNEAPOLIS -- Allianz Life Insurance Company of New York (Allianz Life(R) of New York) announced today that affiliate, USAllianz Investor Services, LLC(R) (USAllianz(R)) is now offering an enhanced GMIB (guaranteed minimum income benefit) as part of their USAllianz New York variable annuities. The new option will feature a 5% guaranteed annual increase on purchase payments.

"The 5% guaranteed annual increase is an attractive option for those who are looking for the added security of knowing that their GMIB value will increase, no matter how the market affects their purchase payments," said Vincent G. Vitiello, president and CEO of Allianz Life of New York. "The annual increase can help guarantee an income stream, even if your contract value has declined during down markets. Additionally, customers do not have to annuitize the income stream and they can stay in the market while receiving a guaranteed income."

The release of the 5% GMIB product enhancement is the latest in a series of new product innovations from USAllianz in New York and is part of a larger effort to have a greater presence in the New York market. USAllianz has already cultivated a national reputation for product innovation.

"Being able to offer our products and serve a population as diverse as New York meshes well with our long-term goal of helping all people live out their lives with financial independence," continued Vitiello. "The 5% enhanced GMIB adds an innovative twist to the USAllianz variable annuities and we believe it will be very well received."

About Allianz Life Insurance Company of New York (Allianz Life(R) of New York)

Allianz Life Insurance Company of New York (Allianz Life(R) of New York) is a leading provider of variable annuities in the New York market. Allianz Life(R) is a member of the Allianz Group - the world's 3rd largest corporation based on assets, and 11th largest based on revenue (Fortune, July 26, 2004). Allianz Group is represented with 700 subsidiaries in over 70 countries around the globe, and employs 180,000 people worldwide.

About USAllianz Investor Services, LLC(R)

USAllianz Investor Services (USAllianz(R)) is an affiliate of Allianz Life Insurance Company of North America. USAllianz products are sold exclusively through a nationwide network of independent financial professionals. According to Morningstar/VARDS, USAllianz variable annuity sales production grew to $4 billion in 2004, a 666 percent gain over 2001 production. Also according to Morningstar/VARDS, as of the end of 2004, USAllianz ranked number 13 in new variable annuity sales among all United States variable annuity providers.

Variable annuities can help meet your clients' long-term retirement goals by providing tax-deferral, a death benefit during the accumulation phase, and a guaranteed stream of income at retirement.

For more complete information about USAllianz New York variable annuities and variable investment options, send for a prospectus from USAllianz Investor Services, LLC, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297 or call [phone]. The prospectus contains details on investment objectives, risks, fees and expenses, as well as other information about the variable annuity and investment options, which your clients should carefully consider. Encourage your clients to read the prospectus thoroughly before sending money.

Guarantees are based on the claims-paying ability of Allianz Life Insurance Company of New York and do not apply to the contract values, which may fluctuate daily. Premium or similar taxes may apply upon utilization, full withdrawal, or at the time of death.