NEW YORK, N.Y., January 30, 2002 — New York Life Insurance Company has announced the appointment of Theodore A. Mathas and Robert L. Smith to its Executive Management Committee. Mathas is chief operating officer for the company's Life & Annuity business, and Smith is the senior vice president in charge of Special Markets. The Executive Management Committee is comprised of New York Life's senior executive leadership and directs the policies and procedures for the company.

"We are proud to announce Ted and Bob's appointment to the Executive Management Committee," said Sy Sternberg, chairman, president and chief executive officer of New York Life. "The leadership, experience and insights of these talented individuals will add tremendous value to the Committee as they set policy for the continued growth of the company."

Smith joined New York Life in 1990, and since 1995 has been in charge of Special Markets, which includes the Membership Association business, the long-term care insurance business and the AARP operation that offers a range of insurance products to AARP's 33 million members. Smith is also in charge of the company's Corporate Internet Division. He began his career at The Prudential Insurance Co. of America in 1975 and joined American Medical International in 1985. He later served as senior vice president of U.S. Healthcare.

Smith is a graduate of Dickinson College in Carlisle, Penn. and holds a Chartered Life Underwriter (CLU) designation of The American College, in Bryn Mawr, Penn. He lives in Stamford, Conn., with his wife, Barbara, their son and daughter.

Mathas joined New York Life in 1995 and became president of Eagle Strategies Corp., New York Life's investment-advisory subsidiary, in 1996. In 1997, Mathas assumed the additional position of president of NYLIFE Securities Inc., the company's retail broker-dealer. In 1999, he was named chief operating officer for the career agency distribution system, and he assumed his current position as chief operating officer of the Life & Annuity business in 2001.

Prior to joining New York Life, Mathas was an attorney at Debevoise & Plimpton.

He graduated from Stanford University with distinction and received a J.D. from the University of Virginia, where he was a member of the Virginia Law Review and the Order of the Coif. A native of Norfolk, Va., he presently resides in Rye, N.Y. with his wife, Keryn, and their daughter.

New York Life Insurance Company, a Fortune 100 company, is the largest mutual life insurance company in the United States. Founded in 1845 and headquartered in New York City, New York Life and its affiliates offer life insurance, annuities and long-term care. On the investment side, New York Life's affiliates provide institutional asset 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.

Contacts:

Karen Finkston Payes
New York Life
(212) 576-5624

Hope Heyman
Edelman Public Relations
(212) 704-4512

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