WESTWOOD, Mass., May 19, 2005 – NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced that Daughters of Charity Health System of California has chosen NYLIM to administer its pension plan.

Daughters of Charity Health System (DCHS), based in Los Altos Hills, Calif., is a regional healthcare system of six hospitals throughout California.  DCHS has 3,100 participants in its $160 million pension plan.

Ropes & Gray, LLP, serves as the consultant to Daughters of Charity Health System and assisted the system in its choice of NYLIM Retirement Plan Services.   

A bundled pension plan uses one provider, such as NYLIM Retirement Plan Services, for most or all of the services necessary to maintain it.  Such services include administration, investment management, trust, actuarial consulting and employee communications. A traditional pension structure might often employ five or more vendors for these tasks.

“The Daughters of Charity Health System believes that taking good care of our associates helps them do the important job of taking care of so many others,” said Bain J. Farris, DCHS president & CEO. “We have been impressed with the people and investment process at NYLIM Retirement Plan Services, and are pleased that this firm will be using its expertise to manage our pension plan.”

“Many new clients are looking to us to bundle the services for their pension plans,” said Tom Clough, managing director of NYLIM Retirement Plan Services. “This trend is clearly taking hold as plan sponsors realize the advantages of bundling, such as cost and time savings, communications, and comprehensive actuarial and investment consulting. We look forward to helping Daughters of Charity Health System’s associates achieve a successful retirement.”

About the Daughters of Charity Health System

The Daughters of Charity Health System is a regional healthcare system of six hospitals and medical centers spanning the California coast from the Bay Area to Los Angeles.  Its healthcare ministry seeks to support the mission of our sponsors, the Daughters of Charity of St. Vincent de Paul, by providing holistic, spiritually centered care to the sick and the poor. DCHS was formed on January 1, 2002, but is an organization with a long and rich heritage. The Daughters of Charity has been serving Northern California for 152 years. Today, DCHS reaches out to many communities throughout California, and encompasses some of the finest physicians, nurses, staff, volunteers and facilities in the state.  www.dochs.org

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 February 28, 2005. With offices in Westwood, 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 $188 billion in assets under management as of March 31, 2005, 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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Contact:               Sarah Lazarus, SSL Media Relations, 978-369-4478, sarahlaz@worldnet.att.net