December 18, 2002 — The Life Insurance Council of New York, Inc. (LICONY) elected Frederick J. Sievert to serve as Chairman of the Board of Directors for 2003 at their Annual Meeting on December 5. Mr. Sievert is President of New York Life Insurance Company in New York City.

Mr. Sievert joined New York Life in 1992 as Senior Vice President and Chief Financial Officer and also became responsible for the Individual Life, Individual Annuity and Disability Income Departments in 1994. In 1995, Mr. Sievert was promoted to Executive Vice President. He was elected to the Board of Directors in 1996, and became Vice Chairman in 1997. In 1999, he was given oversight responsibility for the Special Markets Business Units and the Corporate Marketing Department. In 2002, Mr. Sievert was elected President of New York Life.

"It will be my personal pleasure to work with Mr. Sievert in his role as LICONY Chair," Thomas E. Workman, President of LICONY said. "I look forward to working together with him on the issues and challenges that will face our industry in 2003."

LICONY also appointed the following Board Members as officers for 2003: Patrick A. Mannion, President and Chief Executive Officer of Unity Mutual Life, as Chairman-Elect; Michael I. Roth, Chairman and Chief Executive Officer of MONY Life, as Secretary-Treasurer; and Bruce W. Boyea, Chairman, President and Chief Executive Officer of Security Mutual Life Insurance Company, as Past-Chairman.

New Board Members elected to a three-year term commencing 2003 include: Richard A. Barasch, President and Chief Executive Officer of American Progressive Life and Health of New York; Dennis J. Manning, President and Chief Operating Officer of Guardian Life of America; Stewart G. Nagler, Vice Chairman of the Board and Chief Financial Officer, MetLife; and Bertram L. Scott, President, TIAA-CREF Life Insurance Company.

Executive officers of LICONY are: Thomas E. Workman, President and Chief Executive Officer; Thomas W. Faist, Executive Vice President and General Counsel; Diane D. Stuto, Senior Vice President; and Elizabeth J. Byrne, Senior Vice President.

LICONY is the domestic trade association for the life insurance industry in New York serving their member companies, which provide the vast majority of life, disability income, long term care insurance and annuity benefits to New Yorkers. For 2003, LICONY will represent 67 member companies and 17 allied professional service firms.

Contact:

Martin J. Steadman
(212) 986-6181

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