NORWOOD, Mass., January 31, 2005 – NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced that it has been appointed to manage the Chart Industries, Inc. defined contribution and defined benefit pension plans.  Under its new total retirement outsourcing model, Chart will enjoy cost savings, improved participant communications, and administrative simplicity. 

Chart Industries, Inc. is a leading global supplier of standard and custom-engineered products and systems serving a wide variety of low-temperature and cryogenic applications.    The company has more than 1,400 participants in its $47 million 401(k) and $25 million pension plans.

Jon Geller, Managing Director of The Bostonian Group, Boston, a leading benefits consulting firm, designed the request for proposal process, and guided and advised Chart in hiring its new retirement plan provider.  “One of the main reasons Chart chose to hire NYLIM was the retirement firm’s open architecture of investment options and fiduciary support through its Portfolio Complete program,” he said.

Chart’s pension will be moving from an unbundled to a bundled environment as part of its conversion to NYLIM Retirement Plan Services’ state-of-the-art defined benefit platform.  A bundled pension plan receives all or most of the services related to managing the plan, such as administration, investment management, trust, actuarial consulting and employee communications, from one provider. 

“We are very excited to be working with NYLIM Retirement Plan Services as our total retirement outsourcing provider,” said Mark Ludwig at Chart Industries, Inc.  “This new arrangement will save us money, make our plans more visible and understandable, and provide one point of contact for all our retirement plan needs.”

“Many of our clients are adopting a total retirement outsourcing structure today,” said Tom Clough, Managing Director of NYLIM Retirement Plan Services. “Chart is clearly on the forefront of this trend, making its entire retirement plan structure more efficient and cost-effective.  We look forward to working with Chart.”

About Chart Industries, Inc.

Chart manufactures a broad line of cryogenic products for the purification, liquefaction, distribution, storage and application of gases for final use in a multitude of industrial, commercial and scientific applications. These applications serve many selected markets including biomedical, food, entertainment, aerospace, thermal testing, alternative fuels, vacuum systems and many other industrial end users.   Headquartered in Cleveland, Ohio, Chart has domestic operations located in eight states and an international presence in Australia, China, the Czech Republic, Germany and the United Kingdom.

About NYLIM Retirement Plan Services

NYLIM Retirement Plan Services oversees more than 2,100 comprehensive defined contribution, defined benefit and deferred compensation plans as of November 30, 2004. With offices in Norwood, Massachusetts, and Parsippany, New Jersey, NYLIM Retirement Plan Services administers retirement programs for small, medium and large companies, multi-employer plans, 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 $189 billion in assets under management as of December 31, 2004, 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. For more information, visit NYLIM’s website at www.nylim.com .

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SSL Media Relations                                

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