PARSIPPANY, N.J., September 13, 2004 – New York Life Investment Management LLC (NYLIM) today announced the appointments of Michael Coffey, Phillip Gazzo, and Christopher Parisi as Directors in its retail investment business.  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.

“Mike, Phil, and Chris are all experienced professionals committed to supporting NYLIM’s retail products, distribution partners and providing superior service,” said Salvatore M. Capizzi, Managing Director, New York Life Investment Management, Retail Investments. 

Mr. Coffey, 35, will develop key distribution strategies and initiatives for the expansion of retail sales as director of distribution strategies.  He comes to NYLIM from BlackRock Financial Management, where he was a director and held a number of sales positions including national accounts manager and associate national sales manager.  Mr. Coffey was also a pitcher for the Milwaukee Brewers organization.

As the divisional sales manager for the Southern Region, Mr. Gazzo, 47, will be responsible for managing the sales efforts of MainStay Funds, NYLIM Separately Managed Accounts and the CollegeSense 529 College Savings Plan.  Most recently, he was chief executive officer of VeraVest Investment Advisors.  Mr. Gazzo also served as president, Allmerica Select Distributors.  In addition, he has held sales positions with Aetna Financial Services, PaineWebber, Consolidated Brokerage Services, and Equitable Life Assurance Society.

Mr. Parisi, 35, will manage NYLIM’s retail sales in the Northern Region as the divisional sales manager.  He joins NYLIM from BlackRock Financial Management, where he was a director and divisional sales manager.  Mr. Parisi also held sales positions at Federated Investors Securities Corporation.

With more than $180 billion in assets under management as of July 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.

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