Nick Baker, National Winner and West Central Zone Winner
Chander Goel, North East Zone Winner for 2nd Consecutive Year
Shelly Cha, Pacific Zone Winner
Andrew Recker, South Central Zone Winner

NEW YORK, N.Y., October 9, 2002 — New York Life Insurance Company announced today the winners of the company's annual College Internship Summer Sales Contest. The winners were selected based on the highest numbers of submitted life insurance applications in each geographic region.

"New York Life is proud to provide a professional, educational training opportunity for students interested in gaining experience in the life insurance industry," said Jane Conti, corporate vice president in charge of the New York Life internship program. "This year's winners demonstrated an outstanding knowledge of client service and learned how to help their customers create a financial safety net for their families."

New York Life's Internship Program attracted nearly 300 students from across the country this year. In this program, interns obtain the skills they need to become successful agents through regular one-on-one contact with agent mentors, the active involvement of New York Life managers or sales development managers, and careful supervision from New York Life management. During the program, students are able to obtain their agent license and begin working with clients. The contest was held for the period between June 1 and August 31, 2002.

Andrew Recker, winner in the South Central Zone, is in his senior year at Ohio State University where he is studying family financial management. Andrew worked with agent Joseph Crotty and managing partner Amelia Scott at the Columbus General Office. A celebratory dinner and award presentation will be held today for Andrew at Morton's of Chicago Restaurant located at 2 Nationwide Plaza in Columbus, Ohio, at 6:30 p.m. If you are interested in covering this event, please contact Jane Conti at (212) 576-7525.

Nick Baker, the national and West Central Zone winner, is in his senior year at the University of Northern Iowa. His mentor for the program was Paul Janssen, an agent in the Great Plains General Office, and he worked with managing partner Joe Blanchard. Since 1999, Joel has coached three college interns that became winners in the West Central Zone, and has trained three of the four national winners in 1999, 2000 and 2002.

Shelly Cha, the Pacific Zone winner, is in her senior year at the California State University of Fresno, majoring in business financial planning. She worked with her manager, Toby Bishop, sales manager, and mentor, Benson Liao, agent, of the Central California General Office.

Chander Goel, who is the winner for the second consecutive year in the North East Zone, is a recent graduate of Baruch College. Chander worked with his manager and the partner of the Manhattan General Office, Danny Aihuwelia. He won the contest within one month and went on to become a full-time agent with New York Life, qualifying for the company's Executive Council. Members of the Executive Council are among the most successful of New York Life's elite sales force of 10,200 licensed agents.

New York Life Insurance Company, a Fortune 100 company, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. Founded in 1845 and headquartered in New York City, New York Life and its affiliates offer life insurance, annuities and long-term care insurance. New York Life Investment Management, LLC, a New York Life affiliate, provides institutional asset management, retirement plan and trust services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

Visit www.newyorklife.com/collegeagent for more information.

Contacts:

Marisha Chinsky
New York Life
(212) 576-5897

Michael Holloway
Edelman Public Relations
(212) 704-4532

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