Parsippany, NJ, April 21, 2003 – New York Life Investment Management LLC (NYLIM) today announced the appointment of Stephen Fisher as Managing Director.    In this capacity, Mr. Fisher will be involved with retail product management and development. 

“With over 19 years of experience in senior level product management, Steve’s expertise will be invaluable in enhancing our Retail business,” noted Steve Roussin, President and Chief Operating Officer of New York Life Investment Management.

Prior to joining NLYIM, Mr. Fisher, 44, was responsible for product management and development for UBS Global Asset Management, as a Managing Director.  Previously, he was involved in product development at both Morningstar, Inc. and Prudential Investments.

With more than $155 billion in assets under management as of December 31, 2002, New York Life Investment Management LLC and its affiliates provide investment management and related services to a wide range of individual, corporate, public, and Taft-Hartley clients.  New York Life Investment Management LLC offers institutional asset management, retail investments, and retirement plan 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.