PARSIPPANY, N.J., July 19, 2004 – New York Life Investment Management LLC (NYLIM) today announced the appointments of Robert W. Baker, Daniel P. O’Donnell, and Michael T. Miller as Regional Vice Presidents of NYLIM Retail Sales. 

In their new positions, these professionals will promote the sales of NYLIM’s retail investments through intermediaries including national, full service brokerage firms, regional firms and independent broker-dealers.  NYLIM’s offerings for retail investors include the MainStay Funds, New York Life Investment Management Separately Managed Accounts, and the CollegeSense 529 College Savings Plan.

“Collectively, Bob, Dan, and Mike bring more than 35 years of experience in the investment industry to NYLIM,” said Salvatore M. Capizzi, Managing Director, New York Life Investment Management, Retail Investments.  “NYLIM is deeply committed to providing superior service to financial professionals and they will prove invaluable to this effort.”

Mr. Baker, 30, will focus on national and regional brokerage firms and independent broker-dealers in Ohio.  He comes to NYLIM from BlackRock Funds, where he was a regional wholesaler.

Mr. O’Donnell, 42, will cover Western Pennsylvania, Delaware, and Maryland, working with both national and regional brokerage firms.  Most recently, he was a Regional Vice President for Pioneer Investments.

Mr. Miller, 32, will be responsible for the Pacific Northwest, including Oregon, Washington, Idaho, and Alaska.  He will focus on national and regional brokerage firms, and independent broker-dealers.  Mr. Miller joins NYLIM from Victory Capital Management, where he was a Regional Sales Director.

With more than $180 billion in assets under management as of May 31, 2004, New York Life Investment Management LLC and its affiliates provide a wide range of investment services to institutional, individual, corporate, public, and Taft-Hartley clients, including institutional asset management, retail investments, retirement services, guaranteed products, real estate investments, and alternative investments. For more information, visit the New York Life Investment Management LLC site at www.nylim.com.