NORWOOD, Mass., September 00, 2003 – NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced today that it has been appointed by Heyco, Inc., a manufacturing company in Toms River, N.J. , as bundled provider for Heyco’s $17 million 401(k) plan and $12 million pension plan.  Heyco, which makes molded plastic and stamped metal products, has 227 participants in its defined contribution plan and 307 in its defined benefit pension.

 “We were very impressed with NYLIM’s ability to manage both our 401(k) and our defined benefit plan using its turnkey technology platform,” said Colleen Faulknor, director of human resources at Heyco. 

John F. Pulicare, Director of Retirement Services at Ryan Beck & Co., lead the request for proposal process and advised Heyco's management team throughout the selection and conversion processes. He will provide investment guidance to plan participants.  “Heyco wants to provide an excellent package of retirement benefits to its participants in a way that’s easy to manage.  NYLIM’s outsourcing capabilities are a very important factor in this regard,” he said.   

“We’re seeing a lot of interest in ‘total retirement outsourcing,’” said Tom Clough, managing director of NYLIM Retirement Plan Services.  “Heyco’s management and its employees will benefit from the many positive aspects that our total package can deliver.  We are pleased they have appointed us to manage their retirement plans.” 

Benefits derived from total retirement outsourcing include: better risk management capabilities for the plan sponsor, ease of plan management, and potential cost savings.  Plan participants can also benefit from more accurate retirement plan modeling, better communications regarding all their retirement plans, and one contact for retirement information.

The 401(k) plan’s investment lineup* includes Eclipse Indexed Equity Fund, Alliance Quality Bond Fund, Alliance Balanced Shares, American Funds Growth Fund, Davis New York Venture Fund, Franklin Small-Mid Cap Growth Fund, PIMCO NJF Small –Cap Value, AllianceBernstein International Value, and a stable value option.

About Heyco, Inc.

Founded in 1926 and still family owned, Heyco Products Inc. offers decades of experience in the design and manufacture of molded wire protection products and stamped electrical components to meet demanding customer application requirements. Their unique, in-house ability to offer customers the latest design and prototyping technology along with years of high volume manufacturing experience is their way of turning challenging "just-in-time" manufacturing deadlines into production realties.

About Ryan Beck & Co.

Founded in 1946, Ryan Beck & Co., Inc. provides financial advice and innovative solutions to individuals, institutions and corporate clients through 34 offices in 13 states.   For individual investors, the firm’s Private Client Group provides a full range of financial services, including investment consulting, retirement plans, insurance and investment advisory services.  Institutional clients benefit from the market making, underwriting and distribution activities of the firm’s experienced Capital Markets Group, which encompasses equity and fixed income trading, fixed income products, institutional sales and research.  Through its Investment Banking Groups, Ryan Beck provides consulting and financial advisory services to corporate clients, primarily financial institutions and middle market companies.  Ryan Beck’s experience in this area is acknowledged industry-wide. 

About AllianceBernstein

AllianceBernstein Investment Research and Management, the retail mutual fund distribution unit of Alliance Capital Management, has a diverse family of globally distributed mutual fund portfolios. Alliance Capital is one of the largest mutual fund sponsors, with approximately $427 billion in assets under management at July 31, 2003. Alliance Capital provides investment management services for many of the largest U.S. public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals worldwide. As one of the world's leading global investment management organizations, Alliance Capital is able to compete for virtually any portfolio assignment in any developed capital market in the world.

About NYLIM Retirement Plan Services

NYLIM Retirement Plan Services administers more than 1,500 comprehensive defined contribution, defined benefit and deferred compensation plans as of July 31, 2003.  NYLIM Retirement Plan Services oversees 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 $170 billion in assets under management as of July 31, 2003, 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.  NYLIM offers institutional asset management, retail investments, retirement plan services, guaranteed products, real estate investments, and alternative investments.

*Securities offered through NYLIFE Distributors Inc., 169 Lackawanna Ave., Parsippany, NJ 07054.

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