New York Life Promotes Brian A. Murdock to Chief Executive of New York Life Investment Management LLC; Gary Wendlandt to Remain Chairman of New York Life Investment Management.

NEW YORK -- New York Life Insurance Company today announced that Brian A. Murdock, 50, has been promoted to chief executive officer of New York Life Investment Management LLC, a wholly owned subsidiary, effective July 1. He succeeds Gary Wendlandt, 55, who has been promoted to senior executive vice president of the parent. Mr. Wendlandt remains chairman of the investment management subsidiary.

Sy Sternberg, chairman of the board and chief executive officer of New York Life Insurance Company, said, "Gary and Brian have achieved superb results at our investment management subsidiary, with the operation now surpassing $200 billion in assets under management. Brian's promotion to chief executive of the operation is well deserved, and we look for many more contributions from him in the years ahead. And Brian will continue to benefit from Gary's involvement. Gary will remain chairman of the subsidiary while taking on more responsibilities at the parent in the areas of investment and finance."

Mr. Murdock joined New York Life Investment Management (NYLIM) as President in 2004 with responsibility for NYLIM Guaranteed Products, NYLIM Retirement Plan Services, NYLIM Retail Investments, as well as several of NYLIM's business support units. In addition, Mr. Murdock had oversight of NYLIM investment management groups including New York Life Capital Partners LLC and NYLIM Equity Investors. He is a member of the Executive Management Committee of New York Life Insurance Company.

Prior to joining NYLIM, Mr. Murdock was the chief operating officer for Merrill Lynch Investment Managers (MLIM) based in Princeton, New Jersey, responsible for the P&L of the U.S. business with over $300 billion in client assets. He was previously Chairman of MLIM's Pacific Region based in Tokyo and subsequently Chief Investment Officer for Europe and the Pacific based in London. Mr. Murdock worked at Merrill Lynch for 25 years, first as a securities and commodities broker, and then for 12 years as an equity portfolio manager specializing in U.S. and Global equities. He was also senior vice president and chief investment officer of Merrill's high net worth private accounts business serving 25,000 clients in the United States.

Mr. Murdock received a B.S. from Cornell University in 1978. He resides in Greenwich, CT., with his wife, Debbie, and their four children.

Mr. Wendlandt joined New York Life in 1999 from Massachusetts Mutual Life Insurance Company, where he was executive vice president and chief investment officer. Mr. Wendlandt joined New York Life as an executive vice president and was responsible for establishing the subsidiary, New York Life Investment Management LLC. He is a member of New York Life's Executive Management Committee. He joined Massachusetts Mutual Life Insurance Company as an actuarial student in 1972. After achieving positions of increasing responsibility in investment management and financial operations, Mr. Wendlandt was elected executive vice president in June 1992, and a year later was named chief investment officer.

Mr. Wendlandt is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries. He is also an executive board member of the National Boy Scouts of America.

A native of Milwaukee, Wisconsin, Mr. Wendlandt earned a B.S. degree in Applied Mathematics and Computer Science from Washington University in St. Louis, Missouri. Mr. Wendlandt and his wife, Peg, reside in New York City. They have three grown children.

With more than $200 billion in assets under management as of March 31, 2006, New York Life Investment Management and its affiliates provide investment management and related services to a wide range of individual, corporate, public, and Taft-Hartley clients. NYLIM offers institutional asset management, retail investments, retirement plan services, guaranteed products, real estate investments, and alternative investments. For more information, visit NYLIM's Web site at www.nylim.com.

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. Headquartered in New York City, New York Life's family of companies offers life insurance, annuities and long-term care insurance. New York Life Investment Management LLC provides institutional asset management and retirement planning services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.