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New York Life launches new comprehensive Web Site at http://www.newyorklife.com.

NEW YORK--(BUSINESS WIRE)--Nov. 25, 1996--

Site will allow visitors to build personal home page files

and interact with company representatives

New York Life Insurance Company announced today the launch of its first-ever World Wide Web site. Located at http://www.newyorklife.com, the site will allow visitors to build their own personal home pages, and interact with company representatives via e-mail about Company products and services.

The site, under development since last year, includes three home pages linking New York Life, NYLCare, the company's health benefits subsidiary (http://www.nylcare.com), and the MainStay Funds, registered investment companies, advised, administered and distributed by New York Life and its subsidiaries (http://www.mainstay.com).

Created by an in-house task force with the assistance of Quadravision Communications, and maintained on a state-of-the-art server at BBN Planet, the site will have many extraordinary options, and accommodate every line of the Company's businesses and operations from annuities to employee recruitment.

One notable option will enable visitors to build a personal home page within the site. For example, a person may come to the site, perform a retirement planning calculation, read about variable annuities or mutual funds, and decide to pull down information about asset allocation. That person will be able to store all of this information in his/her own personal folder at the site, and bookmark it for future use.

"It's one of many great features we will offer," said Lee Lapioli, senior vice president and chief information officer at New York Life. "Several of our competitors have web sites, but they are limited in the amount of information and services they provide. Our site is easy to use with over 900 pages of practical and actionable information about both insurance and investment products."

In addition to building their own personal folder and using e-mail, browsers will also be able to access a wide variety of information and capabilities, such as:

- General information about New York Life and its subsidiaries

(company history, financials, news releases, etc.), - Information about all lines of business and products, - Employment information, - Case studies and articles on purchasing insurance, - Retirement funding, business planning, etc., - Daily MainStay net asset value (NAV) figures, - MainStay Funds prospectus downloading capability, - Six calculators for retirement planning, estate planning, cost of

education, life insurance needs, IRAs, and tax deferral, - Agent recruitment, - Weekly "Economic Commentary."

To handle the volume of inquiries the web site is expected to generate, representatives from each line of business will be assigned to respond to e-mail and phone inquiries that come in regarding their line of business.

According to Richard Wecker, senior vice president in charge of the Marketing Department: "Promotional communications such as news releases and our annual report are an important and prominent part of the site. But our goal was to go beyond creating only an online marketing and advertising site. We want to provide an active referral service with quality information for the consumer."

New York Life Insurance Company, a Fortune 100 company, is one of the largest financial services companies in the United States and the world. Founded in 1845 and headquartered in New York City, New York Life concentrates on insurance and financial services. On the insurance side, New York Life and its affiliates offer traditional life and group insurance, annuities, and managed health care. On the investment side, New York Life and its affiliates provide institutional investment management and trust services and, through a subsidiary, NYLIFE Distributors Inc., provide an array of securities products and services such as institutional and retail mutual funds, including 401(k) products.

CONTACT: Jim Tolve Jon Goldberg

New York Life -or- Edelman Public Relations

(212) 576-3869 (212) 704-8115
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Publication:Business Wire
Date:Nov 25, 1996
Words:611
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