-- Appointment of Thomas M. Carrabine as Regional Director of Sales --
-- Opening of Midwest Office --

SAN FRANCISCO, CA, January 31, 2006 -- McMorgan & Company (McMorgan) today announced the appointment of Thomas M. Carrabine as Regional Director of Sales at the firm’s new Midwest office in Chicago, Illinois.

Mr. Carrabine will work with plan sponsors and investment consultants in the Midwest region, representing both McMorgan and NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), a McMorgan affiliate.  He will report to Mark S. Johnson, Director of Client Services for McMorgan.

Mr. Carrabine’s extensive experience includes relationship management and investment consulting to multi-employer defined benefit and defined contribution plans.  He joins McMorgan from Clark Consulting, Inc., where he was an institutional investment consultant. Previously, he held positions with the Illinois Governor’s office and state agencies as well as Hedge Fund Research, Inc.

“We are delighted to have Tom join the McMorgan organization,” said Mr. Johnson.  “Having been an investment consultant, he has the insight into our products and the experience to grow our business with both our traditional channels as well as through consultants.”

“As our business begins to expand into the Midwest, we decided that it was crucial to open an office in the region,” said Jim Moss, Chief Executive Officer of McMorgan. “With our unique position in the Taft-Hartley market, we felt it was an ideal opportunity to hire a professional of Tom’s high caliber to lead this effort.”

McMorgan & Company LLC is one of the nation’s largest specialized investment management firms, focusing on the management of assets for multi-employer, jointly-trusteed benefit plans.  The 36 year-old San Francisco-based firm manages over $12 billion for 212 client portfolios as of December 31, 2005.  The firm offers fixed income, equity, real estate and cash management investment strategies.

NYLIM Retirement Plan Services provides services to more than 2,100 defined contribution, defined benefit and deferred compensation plans as of December 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 $200 billion in assets under management as of December 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.

FOR MORE INFORMATION:
Bliss, Gouverneur & Associates
Meghan Lantier
ml@blisspr.com
212-840-1661

McMorgan & Company
Mark Johnson
415-616-9347