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MONY DENIES ASSOCIATION WITH CREDIT CARD OFFER

 NEW YORK, March 25 /PRNewswire/ -- Mutual of New York (MONY), the nation's ninth-largest mutual life insurance company, cautioned consumers that it is not associated with an offer of a "credit card purchase rebate program" that purportedly would use funds administered by MONY.
 MONY said it has no agreement of any sort with First American Financial, Farmingdale, N.Y., the company making the offer. MONY also denied that it is a "partner" and that it "securely bonded" the credit card refund accounts. First American had distributed marketing materials to consumers erroneously announcing that MONY was involved in the offer.
 MONY announced that it has demanded the First American Financial cease making all references to MONY in any form and for any purpose. MONY also said it demanded that First American Financial inform all individuals who received the credit card offer that the offer does not involve MONY. Moreover, MONY said it would take further action if necessary.
 In its material, First American Financial improperly claims that MONY is a "partner" in a credit card "network marketing" program.
 The Mutual Life Insurance Company of New York -- a 150-year-old mutual life insurance company which sold the nation's first mutual life insurance policy in 1843 -- provides life insurance, disability income, and annuities to individuals and businesses, as well as full-service pension plans and investment management services to corporations and non-profit organizations. MONY's consolidated assets under management total $19.5 billion.
 -0- 3/25/93
 /CONTACT: Charles Wasilewski of MONY, 212-708-2472, or home 908-766-4168/


CO: Mutual of New York ST: New York IN: INS SU:

TM-LD -- NY088 -- 9834 03/25/93 17:43 EST
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Publication:PR Newswire
Date:Mar 25, 1993
Words:269
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