Chairman & CEO of New York Life International Appointed to U.S.-India Business Council Board of Directors.

WASHINGTON -- The U.S.-India Business Council has announced the appointment of Mr. Richard Mucci, Chairman and Chief Executive Officer of New York Life International, LLC, the international arm of New York Life Insurance Company, to its Board of Directors.

The U.S.-India Business Council is the premier business advocacy organization representing 280 of the largest U.S. companies investing in India, joined by two dozen of India's largest global companies. USIBC's mandate is to strengthen U.S.-India commercial ties.

New York Life was one of the original members of USIBC's Chairman's Circle, the highest level of membership. The company is very active in USIBC programs and chairs its Insurance and Pensions Executive Committee. New York Life is a strong and active supporter of long-term strategic ties between the U.S. and India and works extensively to strengthen relations between the two countries.

USIBC Chairman Indra K. Nooyi said of this appointment, "Dick Mucci brings to USIBC a deep understanding of the insurance industry and the role insurance plays in fostering the creation of a long-term debt market, which can only take place if more robust investment in the insurance and pensions industry in India is allowed. As India attempts to mobilize billions of dollars in capital for its infrastructure build-out - especially in these uncertain financial times - the creation of a long-term debt market in India will be crucial. I look forward to working with Dick Mucci and the Board of Directors of USIBC to seek his assistance and insight, as well as New York Life's expertise, to help make this point - as the U.S. and India work together to develop infrastructure in partnership in both countries and around the globe."

"I am honored to accept this appointment on behalf of New York Life," said Mr. Mucci. "India is one of the fastest-growing life insurance markets in the world, and our company has a terrific partner in Max India. We were pleased to be among the first private firms awarded a license to offer life insurance products when the market was opened, and look forward to further expanding our presence into rural and underserved markets."

Mr. Mucci was appointed Chairman & CEO of New York Life International on October 8, 2007. He joined New York Life from Hartford Life, where he last served as head of their Group Benefits Division, a sales leader in group disability and group life. Prior to joining the Hartford, Mr. Mucci spent five years at MassMutual where he led a successful turnaround of the Disability Income Business he headed. He spent the first 23 years of his career with Paul Revere Insurance Company where he rose to the position of Executive Vice President and Chief Operating Officer. Mr. Mucci is trained as an actuary and has both a Bachelor's and a Master's degree in Mathematics from Boston College. He resides in Connecticut.

New York Life International, LLC, the overseas arm of New York Life Insurance Company, offers life insurance and asset accumulation products and services to individuals and groups in selected emerging markets through its subsidiaries, joint ventures and affiliates. Currently, New York Life International has operations in Argentina, China, Hong Kong, India, Mexico, South Korea, Taiwan and Thailand.

In India, New York Life is partnered with Max India, a multi-business corporation that focuses on knowledge, people and service-oriented businesses of life insurance, healthcare and clinical research. Their joint venture, Max New York Life, is the fourth largest life insurer in terms of number of policies sold. Max New York Life has nearly doubled sales every year since the company's inception. The company currently has over 58,000 licensed agents and offices in over 260 cities throughout India.

The U.S.-India Business Council (USIBC), formed in 1975 at the request of the Government of India and the U.S. Government to advance commercial ties between the world's two largest free-market democracies, is hosted under the aegis of the U.S. Chamber of Commerce. The U.S. Chamber of Commerce is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector and region. The U.S.-India Business Council will host its 34th Anniversary in 2009 on June 16th and 17th under the Chairmanship of PepsiCo's Indra K. Nooyi.

www.usibc.com