-Continues Active Growth Pattern-

PARSIPPANY, N.J., April 14, 2004 – NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced that it has added new sales directors in several of its business channels, reflecting NYLIM’s active pursuit of its growth objectives. 

Joining the firm are: Robin Jones, vice president and Southeast regional sales director, Agency channel; Thomas Kelly, Jr., vice president and Southeast regional sales director, Financial Advisor channel; Patrick Murphy, vice president and Northeast regional sales director, Institutional Alliance channel; and Michael Watkins, vice president and Midwest regional sales director, Agency channel.  

NYLIM Retirement Plan Services sells mid- and large-size retirement plans through its Financial Advisor sales channel, encompassing commission-based brokers, national wirehouses, independent and regional broker-dealers. The Institutional Alliance channel focuses on developing alliances or partnerships with other financial organizations, institutions and consultants, to sell mid- and large-size retirement plans.  NYLIM Retirement Plan Services distributes small- and mid-size retirement plans through its affiliated Agency sales force and member-directed defined contribution union plans through its Taft-Hartley group.

“We intend to grow quickly, but not at the expense of our well-renowned customer service ethic,” said Gary Jackson, managing director of sales for NYLIM Retirement Plan Services.  “These terrific sales professionals will help us achieve those goals and we are very excited to have them aboard.”

Robin Jones has over 20 years’ experience in sales and service of qualified retirement plans.  Before her arrival at NYLIM Retirement Plan Services, Jones was a sales consultant for two years with Transamerica Retirement Services.  Prior to that, she had spent five years with NYLIM as a regional director of mutual funds and retirement plans. 

Thomas (Tom) Kelly, Jr. spent the last two years as Director, Institutional Investment Strategies, at Banc of America Capital Management in Atlanta.  During this period, Tom sold close to $2.5 billion in new business and led the nation in the gathering of assets for his division.  Prior to his position at Banc of America, Kelly spent several years at Fidelity Investments as a Retirement Plan Specialist. 

Patrick (Pat) Murphy joined the financial services industry in 1988.   Most recently, he was a Regional Director of Sales for American Express Retirement Services.  Previously, he spent time with Putnam Investments where he held several positions, including serving as Manager for Putnam’s National Account Client Service Team, having responsibility for the firm’s top defined contribution clients. 

Michael Watkins has been involved with selling corporate retirement plans and life insurance for more than 20 years. He comes to NYLIM Retirement Plan Services from Transamerica Retirement Services, and previously served as a pension consultant with Provident Mutual Life Insurance Company.

About NYLIM Retirement Plan Services

NYLIM Retirement Plan Services oversees more than 1,500 comprehensive defined contribution, defined benefit and deferred compensation plans as of February 29, 2004. With offices in Norwood, Massachusetts, and Parsippany, New Jersey, NYLIM Retirement Plan Services administers retirement programs for small, medium and large companies, unions, and individuals throughout the United States, and is widely recognized for its leadership in bundled defined contribution and bundled defined benefit plans.

With more than $183 billion in assets under management as of February 29, 2004, New York Life Investment Management and its affiliates provide investment management and related services to a wide range of individual, corporate, public, and Taft-Hartley clients. NYLIM offers institutional asset management, retail investments, retirement plan services, guaranteed products, real estate investments, and alternative investments. For more information, visit NYLIM’s website at www.nylim.com .