WESTWOOD, Massachusetts, September 28, 2005 – NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced today that Golden Flake Snack Foods, Inc. (NASDAQ: GLDC) has chosen the retirement plan services provider to administer its $18 million defined contribution plan.

Golden Flake is a quality producer of potato chips and other snacks. The firm is based in Birmingham, Alabama, and has 400 participants in its 401(k) plan.

Capital Strategies Advisors, Inc., of Birmingham, served as the financial advisor to Golden Flake Snack Foods in choosing NYLIM Retirement Plan Services.  Capital Strategies will also continue to work with Golden Flake in an advisory capacity.

“At Golden Flake, our motto is the Golden Rule – ‘do unto others as you would have them do unto you,’” said Patty Townsend, Chief Financial Officer at Golden Flake Snack Foods. “In the spirit of the Golden Rule, we feel that it is of the utmost importance to provide our employees with a high-quality retirement plan and the best customer service to support it.  NYLIM Retirement Plan Services meets all those criteria.”

About Golden Flake Snack Foods, Inc.
Originally founded in the basement of a small grocery store in Birmingham, Golden Flake Snack Foods, Inc. now serves a 12-state area in the Southeastern United States with quality snack foods such as potato chips, peanuts, horseradish, peanut butter and crackers.  The company went public in 1968 and now trades on the NASDAQ Exchange.  For more information, please visit the Golden Flake Snack Foods website at www.goldenflake.com.

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 July 31, 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 $196 billion in assets under management as of August 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       
T: 978-369-4478  
sarahlaz@worldnet.att.net