PARSIPPANY, N.J., April 15, 2004 – New York Life Investment Management LLC (NYLIM) today announced the appointment of Brian Murdock, 48, as President.  Murdock, who comes to NYLIM from Merrill Lynch Investment Management, will report to Gary Wendlandt, Chairman and Chief Executive Officer.    

“Brian’s proven leadership and global perspective are well matched with NYLIM’s already exceptionally strong leadership team,” said Mr. Wendlandt.  “We are delighted to bring into our growing organization a seasoned veteran with many years of investing and management experience.”  Mr. Murdock will oversee a variety of business units, including Guaranteed Products, Retirement Plan Services, Retail Investments and New York Life Capital Partners LLC, as well as several of NYLIM’s business support units.  As part of his responsibilities, Mr. Murdock will also serve on the board of New York Life Investment Management.

At Merrill Lynch, Mr. Murdock held positions of increasing responsibility over his twenty-five year tenure.  Most recently, he was Chief Operating Officer of Merrill Lynch Investment Management (MLIM) Americas.  Previously, he served as Chief Investment Officer for the Pacific Region and Global CIO, Fixed Income and Alternative Investments, MLIM; Chairman, MLIM Pacific Region; and President and CEO, MLIM Japan.  Mr. Murdock is a graduate of Cornell University and resides in Princeton, New Jersey with his wife and four children. 

Mr. Murdock replaces Steve Roussin, who joined the company in 1997 and has departed from NYLIM to pursue other opportunities.

With more than $183 billion in assets under management as of February 29, 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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