NYLIAC MainStay Annuities Achieve Award for Superior Customer Service

NEW YORK, N.Y., February 19, 2002 — New York Life Insurance Company, parent company of New York Life Insurance and Annuity Corporation (NYLIAC), announced today that NYLIAC's MainStay Annuities received a 2001 DALBAR Annuity Service Excellence Award for outstanding customer service. MainStay Annuities was one of only 13 service organizations to qualify for this award, and one of only five companies to qualify in two consecutive years.

"Receiving these DALBAR honors confirms that we are fulfilling our goal to provide New York Life customers with exceptional service," said Fred Sievert, vice chairman of New York Life and president of NYLIAC. "We at New York Life are proud of our dedication to our customers and are glad that others recognize the high-quality support and service we render."

DALBAR only grants its service awards to the industry's elite service providers and measures company merit based on rigorous evaluations over a 12-month period. DALBAR evaluates each company's competency in service both over the telephone and through written communications to customers.

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 insurance. 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

Mike Holloway
Edelman Public Relations
(212) 704-4532

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