Stable Value Option. New York Life Insurance Company Anchor Account III As of 9/30/2011 INVESTMENT OBJECTIVE SECTOR DIVERSIFICATION. Cash

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1 Stable Value Option The Stable Value Option seeks to provide a low-risk stable investment, offering competitive yields and limited volatility, with guarantee of principal and accumulated interest. Until as late as October 0, the underlying investments of the Stable Value Option will consist of the New York Life Insurance Company Anchor Account III and the Union Bank Stable Value Fund. These investments will be blended together to create a daily valued investment. All new contributions will be invested in the New York Life Anchor Account III and all participants will receive the same blended crediting rate. During the period between March, 0 and October of 0, the Union Bank Stable Value Fund will be fully liquidated and all assets will be invested in the New York Life Anchor Account III. Union Bank will inform New York Life Insurance Company when the liquidation can occur. The information below details the underlying characteristics of the New York Life Anchor Account III. An updated fund profile of the Stable Value Option will be available through New York Life online at mylife.newyorklife.com, or about 0 days after the transition to New York Life is complete. New York Life Insurance Company Anchor Account III As of 9/0/0 INVESTMENT OBJECTIVE The Anchor Account seeks to provide a low-risk stable investment, offering competitive yields and limited volatility, with guarantee of principal and accumulated interest. SECTOR DIVERSIFICATION Cash % INVESTMENT MANAGEMENT The New York Life separate account portfolio supporting the Anchor group annuity contracts is managed by the Fixed Income Investors Group, a division of New York Life Investments. Fixed Income Investors is a multiproduct fixed income asset manager comprised of experienced and highly specialized investment professionals. New York Life is a leading provider of stable value products in the U.S with more than 0 years of experience and $6 billion in stable value assets. KEY FEATURES This stable-value option is a New York Life Insurance Company separate account invested in high-quality fixed-income securities. Principal and accumulated interest is guaranteed by New York Life Insurance Company. New York Life currently holds the highest ratings for financial strength for a life insurance company from the industry's principal rating agencies : Moody s: Aaa; Standard & Poor s : AA+; Fitch Ratings: AAA; A.M. Best: A++. The account is not guaranteed by the FDIC or the federal government. The interest rate is subject to change daily. The Anchor Account has a return profile consistent with a longer term investment, with less potential for short-term volatility. Source: Individual Third Party Ratings Reports as of 8//0. Standard & Poor's Ratings Services, a Standard & Poor s Financial Services LLC business FUND FACTS Date: //995 Assets: $. billion Effective Duration:.0 Years Product Manager: Kenneth Quann Expense Charge**: 0.0%** Agencies % Asset-Backed Securities % Collateralized Mor gage Obligations Commer ial Mortg ge- Bac ed Securities % % Corporates % Mortgage-Backed Securities % U.S. Treasuries % The targeted duration for holdings is.5 to.5 years. The Anchor Account allocates assets among the security types listed above: OTHER CONSIDERATIONS The principal risk of mortgage- or asset-backed securities is that, if interest rates fall, the underlying debt may be paid ahead of schedule which will reduce the yield and market value of these securities. AVERAGE ANNUAL RETURNS (NET) 5 0 QTR YTD YEAR YEAR YEAR YEAR Anchor Account* 0.66%.8%.4%.94%.68% 4.4% CALENDAR YEAR RETURNS (NET) Anchor Account.58%.% 4.79% 4.79% 4.6% 4.09% * for the New York Life Insurance Company Anchor Account III group annuity contract, offered to the public on December, 00, include historical performance of the New York Life Insurance Company Anchor I Account from inception (//995) through /0/00. **The Anchor III expense charge will be increased to 0.45% beginning on 7//0. is net of all fees and expenses charged under the contract. data for periods greater than one year is annualized. guarantee of future results. The New York Life Anchor Account III is a group annuity contract and not a mutual fund. New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiaries. This product is offered by New York Life Insurance Company, New York, NY. InvstSvcs-ANCHR-III-09-

2 As of September 0, 0 Category: Inflation-Protected Bond Inflation-protected bond portfolios primarily invest in fixed-income securities that increase coupon and/or principal payments at the rate of inflation. These bonds can be issued by any organization, but the U.S. Treasury is currently the largest issuer of these types of securities. Most of these portfolios buy bonds with intermediateto long-term maturities. The investment seeks total return and inflation protection consistent with investment in inflation-indexed securities. The fund invests at least 80% of assets in inflation-adjusted securities including inflation-indexed securities issued by the U.S. Treasury, by other U.S. government agencies and instrumentalities, and by other, non-u.s. government entities such as corporations. It may invest up to 0% of assets in traditional U.S. Treasury, U.S. government agency or other non-u.s. government securities that are not inflationindexed. Investments in fixed income securities are subject to the risks associated with debt securities including credit, price and interest rate risk. In certain interest rate environments, such as when real interest rates are rising faster than nominal interest rates, inflation-protected securities with similar durations may experience greater losses than other fixed income securities. Interest payments on inflation-protected debt securities will fluctuate as the principal and/or interest is adjusted for inflation and can be unpredictable. Expense Ratio (gross) **: 0.48% of fund assets Fund Date: 0/0/997 Total Fund Assets($mil): 94.5 ACITX James E. Platz Brian Howell Robert V. Gahagan Management Company: American Century Inv Mgt, Inc.. Telephone: American Century Inflation-Adjusted Bond Fund (Investor Class) Portfolio Snapshot as of 06/0/0 ^ Cash 0.07 Stocks* 0.00 Bonds 99.9 Other 0.00 *Foreign Stock 0.00 Total Number of Stock Holdings 0 Total Number of Bond Holdings 40 Annual Turnover Ratio % Top Ten Holdings as of 06/0/0 ^ US Treasury Bond.75% 5.85 US Treasury Bond.875% 5. US Treasury Bond % 4.7 US Treasury Note.5% 4.68 US Treasury Note.65% 4.67 US Treasury Note % 4.5 US Treasury Bond.65% 4. US Treasury Note %.75 US Treasury Note %.70 US Treasury Note.5%.5 Bond Investment Overall Year 5 Year 0 Year 4 Out of 54 Inflation-Protected Bond Funds Out of 54 Inflation-Protected Bond Funds Out of Inflation-Protected Bond Funds 4 Out of 9 Inflation-Protected Bond Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since American Century Infl-Adj Bond 0.8% 9.00% 7.9% 6.8% 6.68% -- Inflation-Protected Bond Average Citigroup U.S. Inflation-Linke mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 0,000 5,000 0,000 American Century Infl-Adj Bond $ 0,779 Citigroup U.S. Inflation-Linke $,905 9/0 9/0 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Nov. 07-Jan % Worst -month Period Sep. 08-Nov % This investment has shown a relatively small range of price fluctuations in the past. Based on this measure, currently more than two thirds of all mutual funds with threeyear histories have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy. Inflation-Protected Bond Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Inflation-Protected Bond category. Citigroup U.S. Inflation-Linked Securities Index measures the return of bonds with fixed-rate coupon payments that adjust for inflation as measured by the Consumer Price Index (CPI). An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

3 As of September 0, 0 Category: Intermediate-Term Bond Intermediate-term bond funds have average durations that are greater than.5 years and less than six years. Most of the funds rotate among a variety of sectors in the bond market, based upon which appear to offer better values. Whatever types of bonds they hold, these funds are less sensitive to interest rates, and therefore less volatile, than funds that have longer durations. The investment seeks maximum total return. The fund normally invests at least 65% of total assets in a diversified portfolio of fixed-income instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. It invests primarily in investment-grade debt securities, but may invest up to 0% of total assets in high-yield securities ( junk bonds ). The fund may invest in derivative instruments, such as options, futures contracts or swap agreements, or in mortgage- or asset-backed securities. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. High-yield securities ("junk bonds") are generally considered speculative because they present a greater risk of loss than higher-quality debt securities; these securities may also be subject to greater price volatility. Foreign securities may be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, and political and economic instability. These risks are likely to be greater for emerging markets than for developed markets. Derivatives may increase the volatility of a fund s net asset value and may result in a loss to a fund. b- fee: 0.5% Expense Ratio (gross) **: 0.7% of fund assets Fund Date: 09/08/994 Total Fund Assets($mil): 55. PTRAX William H. Gross Management Company: Pacific Investment Management Co LLC. Telephone: PIMCO Total Return Fund (Administrative Class) Portfolio Snapshot as of 06/0/0 ^ Short % Cash Stocks* Bonds Other *Foreign Stock Top Ten Holdings as of 06/0/0 ^ Pimco Fds Private Account Portfolio Ser 9. FNMA 7. FNMA -.55 Cdx Ig6 5y Sp Boa.07 Cdx Ig6 5y Sp Bps.04 FNMA -.79 US Treasury Note 0.75%.54 Irs Eur R 6me/.5 09// Brc.4 FNMA.5%.5 FNMA.4 Bond Investment Overall Year 5 Year 0 Year 4 Out of 06 Intermediate-Term Bond Funds Out of 06 Intermediate-Term Bond Funds Out of 86 Intermediate-Term Bond Funds 4 Out of 568 Intermediate-Term Bond Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since PIMCO Total Return Admin.7% 0.7% 9.56% 7.54% 6.% -- Intermediate-Term Bond Average Barclays Capital Aggregate Bon mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 0,000 5,000 0,000 PIMCO Total Return Admin $ 0, Barclays Capital Aggregate Bon $ 8,805 9/0 9/0 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Nov. 08-Jan % Worst -month Period Aug. 08-Oct % Investment This investment has shown a relatively small range of price fluctuations in the past. Based on this measure, currently more than two thirds of all mutual funds with threeyear histories have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy. Intermediate-Term Bond Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Intermediate-Term Bond category. Barclays Capital Aggregate Bond Index: The Barclays Capital Aggregate Bond Index is an unmanaged market value-weighted performance benchmark for investmentgrade or better fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities, with maturities of at least one year. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

4 As of September 0, 0 Category: World Allocation World allocation funds seek to provide both capital appreciation and income by investing in three major areas: stocks, bonds, and cash. While these funds do explore the whole world, most of them focus on the U.S., Canada, Japan, and the larger markets in Europe. It is rare for such funds to invest more than 0% of their assets in emerging markets. The investment seeks maximum real return. The fund normally invests all of its assets in Institutional Class or, as applicable, Class M shares of other funds of the Trust except the All Asset All Authority fund, Global Multi-Asset and the RealRetirement funds. It invests assets in shares of the underlying funds and does not invest directly in stocks or bonds of other issuers. The fund may invest in any or all of the underlying funds, but will not normally invest in every underlying fund at any particular time. While the investment is nondiversified, it invests in some diversified underlying holdings. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. The Fund is a "fund of funds" that invests in shares of other mutual funds (the underlying funds), which can include U.S. and foreign equity and fixed income securities. The fund may also allocate its investments in growth and value stocks, real estate investment trusts, and corporate and U.S. government bonds. Foreign investing involves risks not associated with U.S. investments, including currency fluctuations and political and economic changes. While diversification helps to manage risk, it does not guarantee earnings growth. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. The risks associated with an investment in the fund are more fully described in the fund s prospectus. b- fee: 0.5% Expense Ratio (gross) **:.% of fund assets Fund Date: //00 Total Fund Assets($mil): 9.89 PAALX Robert D. Arnott Management Company: Pacific Investment Management Co LLC. Telephone: PIMCO All Asset Fund (Administrative Class) Portfolio Snapshot as of 06/0/0 ^ Short % Cash Stocks* Bonds Other *Foreign Stock Annual Turnover Ratio % 77 Top Ten Holdings as of 06/0/0 ^ PIMCO Fundamental Advtg Total Ret Instl 4.5 PIMCO Income Instl 8.9 PIMCO Real Return Asset Instl 7.79 PIMCO Floating Income Instl 7.60 PIMCO EM Fdmtl IndexPLUS TR ST Instl 6.40 PIMCO Unconstrained Bond Inst 5.8 PIMCO High Yield Instl 4.54 PIMCO Emerging Markets Currency Instl 4.5 PIMCO Investment Grade Corp Bd Instl 4. PIMCO Diversified Inc Instl.8 Balanced/Asset Allocation Investment Overall Year 5 Year Out of 8 World Allocation Funds Out of 8 World Allocation Funds Out of 46 World Allocation Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since PIMCO All Asset Admin -.94% -0.85% 7.77% 4.9% % World Allocation Average S&P 500 Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 0,000 5,000 0,000 PIMCO All Asset Admin $ 7,965 S&P 500 Index $ 5,09 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % This investment has shown a relatively small range of price fluctuations in the past. Based on this measure, currently more than two thirds of all mutual funds with threeyear histories have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy. World Allocation Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar World Allocation category. S&P 500 Index TR: S&P 500 is a trademark of The McGraw-Hill Companies, Inc. The S&P 500 is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock market performance. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

5 As of September 0, 0 Category: Retirement Income Retirement income portfolios provide a mix of stocks, bonds and cash for those investors already in or entering retirement. These portfolios tend to be managed to more of a conservative asset allocation strategy. These portfolios aim to provide investors with steady income throughout retirement. The investment seeks the highest total return over time consistent with an emphasis on both capital growth and income. The fund invests in a set of underlying T. Rowe Price mutual funds representing various asset classes and sectors. It normally invests 40% in stocks and 60% in bonds. While the investment is non-diversified, it invests in diversified holdings. Barclays Capital Aggregate Bond Index: The Barclays Capital Aggregate Bond Index is an unmanagedmarketvalue-weightedperformance benchmark for investment-grade or better fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities, with maturities of at least one year. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made b- fee: 0.5% Expense Ratio (gross) **: 0.8% of fund assets Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $0.00 Fund Date: 0//00 Total Fund Assets($mil): 58.7 PARIX Jerome A. Clark Management Company: T. Rowe Price Associates, Inc.. Telephone: T. Rowe Price Retirement Income Fund (Advisor Class) Portfolio Snapshot as of 06/0/0 ^ Cash.0 Stocks* 40.5 Bonds Other 0.6 *Foreign Stock 9.59 Industry Sectors as of 06/0/0 ^ Cyclical 5.0 Basic Materials 6.69 Consumer Cyclical 0.7 Financial Services 4.6 Real Estate.6 Defensive.0 Consumer Defensive 9.54 Healthcare 9.4 Utilities. Sensitive 4.59 Communication Services 4.7 Energy.7 Industrials.0 Technology.75 Total Number of Stock Holdings 0 Annual Turnover Ratio % Top Ten Holdings as of 06/0/0 ^ T. Rowe Price Inflation Focused Bond 0.0 T. Rowe Price Equity Index T. Rowe Price New Income 8.07 T. Rowe Price High-Yield.5 T. Rowe Price Emerging Markets Bond.07 Balanced/Asset Allocation Investment Overall Year 5 Year Out of 8 Retirement Income Funds Out of 8 Retirement Income Funds Out of 8 Retirement Income Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since T. Rowe Price Retirement Incom -.68% 0.5% 5.0%.95% % Retirement Income Average Barclays Capital Aggregate Bon mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 6,000 4,000,000 T. Rowe Price Retirement Incom $ 4,70 Barclays Capital Aggregate Bon $ 5,98 T. Rowe Price International Bond.05 T. Rowe Price International Stock Fd.44 T. Rowe Price Overseas Stock.9 0,000 T. Rowe Price Intl Gr & Inc.8 T. Rowe Price Real Assets.94 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % This investment has shown a relatively small range of price fluctuations in the past. Based on this measure, currently more than two thirds of all mutual funds with threeyear histories have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy. Retirement Income Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Retirement Income category. Barclays Capital Aggregate Bond Index: The Barclays Capital Aggregate Bond Index is an unmanaged market value-weighted performance benchmark for investmentgrade or better fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities, with maturities of at least one year. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

6 As of September 0, 0 Category: Target Date Target-date portfolios provide a diversified exposure to stocks, bonds, and cash for those investors who have a specific date in mind (in this case, the years ) for retirement or another goal. These portfolios aim to provide investors with an optimal level of return and risk, based solely on the target date. Over time, management adjusts the allocation among asset classes to more conservative mixes as the target date approaches. The investment seeks the highest total return over time consistent with an emphasis on both capital growth and income. The fund invests in a set of underlying T. Rowe Price mutual funds representing various asset classes and sectors. It normally invests 55% of assets in stock funds, 45% in fixed income funds. While the investment is non-diversified, it invests in diversified holdings. The target date in a target date fund is the approximate date an investor plans to start withdrawing money. The funds generally shift to a more conservative investment mix over time. Earnings and principal value are not guaranteed at any time including the target date. and mid-cap stocks are often more volatile than large-cap stocks. Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. The principal risk of investing in value funds is that the price of the security may not approach its anticipated value. Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. These risks are likely to be greater for emerging markets than in developed markets. Funds that invest in bonds are subject to interest rate risk and can lose principal value when interest rates rise. b- fee: 0.5% Expense Ratio (gross) **: 0.86% of fund assets Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $0.00 Fund Date: 0//00 Total Fund Assets($mil): PARAX Jerome A. Clark Management Company: T. Rowe Price Associates, Inc.. Telephone: T. Rowe Price Retirement 00 Fund (Advisor Class) Portfolio Snapshot as of 06/0/0 ^ Cash 6.7 Stocks* 5.56 Bonds 9. Other 0.85 *Foreign Stock.40 Industry Sectors as of 06/0/0 ^ Cyclical 6.9 Basic Materials 7.00 Consumer Cyclical 0.8 Financial Services 4.8 Real Estate.57 Defensive.06 Consumer Defensive 8.6 Healthcare 9.8 Utilities.7 Sensitive 4.75 Communication Services 4.4 Energy 0.97 Industrials.4 Technology.94 Total Number of Stock Holdings 0 Annual Turnover Ratio % 9 Top Ten Holdings as of 06/0/0 ^ T. Rowe Price Equity Index T. Rowe Price New Income.98 T. Rowe Price Inflation Focused Bond.0 T. Rowe Price High-Yield 4. T. Rowe Price Emerging Markets Bond.70 T. Rowe Price International Bond.68 T. Rowe Price Value.55 T. Rowe Price Growth Stock.8 T. Rowe Price International Stock Fd.8 T. Rowe Price Overseas Stock.09 Balanced/Asset Allocation Investment Overall Year 5 Year Out of 49 Target Date Funds Out of 49 Target Date Funds Out of 9 Target Date Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since T. Rowe Price Retirement % -0.9% 4.88%.5% % Target Date Average Barclays Capital Aggregate Bon mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 6,000 4,000,000 0,000 T. Rowe Price Retirement 00 $ 4,655 Barclays Capital Aggregate Bon $ 5,98 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % This investment has shown a relatively small range of price fluctuations in the past. Based on this measure, currently more than two thirds of all mutual funds with threeyear histories have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy. Target Date Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Target Date category. Barclays Capital Aggregate Bond Index: The Barclays Capital Aggregate Bond Index is an unmanaged market value-weighted performance benchmark for investmentgrade or better fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities, with maturities of at least one year. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

7 As of September 0, 0 Category: Target Date Target-date portfolios provide a diversified exposure to stocks, bonds, and cash for those investors who have a specific date in mind (in this case, the years 06-00) for retirement or another goal. These portfolios aim to provide investors with an optimal level of return and risk, based solely on the target date. Over time, management adjusts the allocation among asset classes to more conservative mixes as the target date approaches. The investment seeks the highest total return over time consistent with an emphasis on both capital growth and income. The fund invests in a set of underlying T. Rowe Price mutual funds representing various asset classes and sectors. Its allocation between T. Rowe Price stock and bond funds will change over time in relation to its target retirement date. It normally invests 7% in stocks and 8% in bonds. While the investment is non-diversified, it invests in diversified holdings. The target date in a target date fund is the approximate date an investor plans to start withdrawing money. The funds generally shift to a more conservative investment mix over time. Earnings and principal value are not guaranteed at any time including the target date. and mid-cap stocks are often more volatile than large-cap stocks. Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. The principal risk of investing in value funds is that the price of the security may not approach its anticipated value. Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. These risks are likely to be greater for emerging markets than in developed markets. Funds that invest in bonds are subject to interest rate risk and can lose principal value when interest rates rise. b- fee: 0.5% Expense Ratio (gross) **: 0.94% of fund assets Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $0.00 Fund Date: 0//00 Total Fund Assets($mil): 8.07 PARBX Jerome A. Clark Management Company: T. Rowe Price Associates, Inc.. Telephone: T. Rowe Price Retirement 00 Fund (Advisor Class) Portfolio Snapshot as of 06/0/0 ^ Cash 4.4 Stocks* 70.4 Bonds 4.4 Other.0 *Foreign Stock 8.7 Industry Sectors as of 06/0/0 ^ Cyclical 7.80 Basic Materials 7.46 Consumer Cyclical.98 Financial Services 5.05 Real Estate. Defensive 8.8 Consumer Defensive 6.87 Healthcare 8.7 Utilities. Sensitive 4.40 Communication Services 4.48 Energy 0.58 Industrials 4.0 Technology 4. Total Number of Stock Holdings 0 Annual Turnover Ratio % 5 Top Ten Holdings as of 06/0/0 ^ T. Rowe Price Equity Index T. Rowe Price New Income 5.79 T. Rowe Price Growth Stock.4 T. Rowe Price Value.8 T. Rowe Price International Stock Fd 4. T. Rowe Price Overseas Stock.99 T. Rowe Price Intl Gr & Inc.96 T. Rowe Price Real Assets. T. Rowe Price High-Yield.06 T. Rowe Price Inflation Focused Bond.0 Balanced/Asset Allocation Investment Overall Year 5 Year Out of 76 Target Date Funds Out of 76 Target Date Funds Out of 99 Target Date Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since T. Rowe Price Retirement % -.% 4.%.% % Target Date Average S&P 500 Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 6,000 4,000,000 0,000 8,000 T. Rowe Price Retirement 00 $ 4,47 S&P 500 Index $,60 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % Low Moderate High This investment has shown a relatively moderate range of price fluctuations in the past. For this reason, it currently lands in the middle third of all investments with records of at least three years. However, this investment may experience larger or smaller price declines or price increases depending on market conditions. To offset some of the investment s risk, investors may wish to own investments with different portfolio makeups or investment strategies. Target Date Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Target Date category. S&P 500 Index TR: S&P 500 is a trademark of The McGraw-Hill Companies, Inc. The S&P 500 is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock market performance. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

8 As of September 0, 0 Category: Target Date Target-date portfolios provide a diversified exposure to stocks, bonds, and cash for those investors who have a specific date in mind (in this case, the years 06-00) for retirement or another goal. These portfolios aim to provide investors with an optimal level of return and risk, based solely on the target date. Over time, management adjusts the allocation among asset classes to more conservative mixes as the target date approaches. The investment seeks the highest total return over time consistent with an emphasis on both capital growth and income. The fund invests in a set of underlying T. Rowe Price mutual funds representing various asset classes and sectors. It normally invests 85% in stocks and 5% in bonds. The fund s allocation between T. Rowe Price stock and bond funds will change over time in relation to its target retirement date. While the investment is non-diversified, it invests in diversified holdings. The target date in a target date fund is the approximate date an investor plans to start withdrawing money. The funds generally shift to a more conservative investment mix over time. Earnings and principal value are not guaranteed at any time including the target date. and mid-cap stocks are often more volatile than large-cap stocks. Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. The principal risk of investing in value funds is that the price of the security may not approach its anticipated value. Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. These risks are likely to be greater for emerging markets than in developed markets. Funds that invest in bonds are subject to interest rate risk and can lose principal value when interest rates rise. b- fee: 0.5% Expense Ratio (gross) **: 0.99% of fund assets Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $0.00 Fund Date: 0//00 Total Fund Assets($mil): PARCX Jerome A. Clark Management Company: T. Rowe Price Associates, Inc.. Telephone: T. Rowe Price Retirement 00 Fund (Advisor Class) Portfolio Snapshot as of 06/0/0 ^ Cash.0 Stocks* 8.0 Bonds.87 Other.0 *Foreign Stock.04 Industry Sectors as of 06/0/0 ^ Cyclical 8.58 Basic Materials 7.68 Consumer Cyclical.5 Financial Services 5.9 Real Estate.8 Defensive 7.76 Consumer Defensive 6.07 Healthcare 8.50 Utilities.9 Sensitive 4.66 Communication Services 4.5 Energy 0.9 Industrials 4. Technology 4.44 Total Number of Stock Holdings 0 Annual Turnover Ratio % 6 Top Ten Holdings as of 06/0/0 ^ T. Rowe Price Growth Stock 0.40 T. Rowe Price Value 0.4 T. Rowe Price Equity Index T. Rowe Price New Income 9.8 T. Rowe Price International Stock Fd 5.6 T. Rowe Price Overseas Stock 4.79 T. Rowe Price Intl Gr & Inc 4.78 T. Rowe Price Real Assets.88 T. Rowe Price Mid-Cap Value.5 T. Rowe Price Mid-Cap Growth.50 Balanced/Asset Allocation Investment Overall Year 5 Year Out of 76 Target Date Funds Out of 76 Target Date Funds Out of 99 Target Date Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since T. Rowe Price Retirement % -.47%.9% 0.7% % Target Date Average S&P 500 Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 5,000 0,000 T. Rowe Price Retirement 00 $ 4,97 S&P 500 Index $,60 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % Low Moderate High This investment has shown a relatively moderate range of price fluctuations in the past. For this reason, it currently lands in the middle third of all investments with records of at least three years. However, this investment may experience larger or smaller price declines or price increases depending on market conditions. To offset some of the investment s risk, investors may wish to own investments with different portfolio makeups or investment strategies. Target Date Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Target Date category. S&P 500 Index TR: S&P 500 is a trademark of The McGraw-Hill Companies, Inc. The S&P 500 is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock market performance. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

9 As of September 0, 0 Category: Target Date Target-date portfolios provide a diversified exposure to stocks, bonds, and cash for those investors who have a specific date in mind (in this case, the years ) for retirement or another goal. These portfolios aim to provide investors with an optimal level of return and risk, based solely on the target date. Over time, management adjusts the allocation among asset classes to more conservative mixes as the target date approaches. The investment seeks the highest total return over time consistent with an emphasis on both capital growth and income. The fund invests in a set of underlying T. Rowe Price mutual funds representing various asset classes and sectors. Its allocation between T. Rowe Price stock and bond funds will change over time in relation to its target retirement date. It normally invests 90% in stocks and 0% in bonds. While the investment is non-diversified, it invests in diversified holdings. The target date in a target date fund is the approximate date an investor plans to start withdrawing money. The funds generally shift to a more conservative investment mix over time. Earnings and principal value are not guaranteed at any time including the target date. and mid-cap stocks are often more volatile than large-cap stocks. Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. The principal risk of investing in value funds is that the price of the security may not approach its anticipated value. Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. These risks are likely to be greater for emerging markets than in developed markets. Funds that invest in bonds are subject to interest rate risk and can lose principal value when interest rates rise. b- fee: 0.5% Expense Ratio (gross) **:.0% of fund assets Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $0.00 Fund Date: 0//00 Total Fund Assets($mil): PARDX Jerome A. Clark Management Company: T. Rowe Price Associates, Inc.. Telephone: T. Rowe Price Retirement 040 Fund (Advisor Class) Portfolio Snapshot as of 06/0/0 ^ Cash.94 Stocks* 88.6 Bonds 7.6 Other.06 *Foreign Stock 4.9 Industry Sectors as of 06/0/0 ^ Cyclical 9.0 Basic Materials 7.55 Consumer Cyclical.99 Financial Services 5.44 Real Estate. Defensive 6.8 Consumer Defensive 5.65 Healthcare 8. Utilities.04 Sensitive Communication Services 4.7 Energy 0.8 Industrials 4.87 Technology 4.0 Total Number of Stock Holdings 0 Annual Turnover Ratio % 5 Top Ten Holdings as of 06/0/0 ^ T. Rowe Price Growth Stock.6 T. Rowe Price Value.6 T. Rowe Price Equity Index T. Rowe Price International Stock Fd 5.54 T. Rowe Price New Income 5.4 T. Rowe Price Overseas Stock 5.5 T. Rowe Price Intl Gr & Inc 5. T. Rowe Price Real Assets 4.4 T. Rowe Price Mid-Cap Value.77 T. Rowe Price Mid-Cap Growth.74 Balanced/Asset Allocation Investment Overall Year 5 Year Out of 70 Target Date Funds Out of 70 Target Date Funds Out of 9 Target Date Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since T. Rowe Price Retirement % -.0%.05% -0.7% % Target Date Average S&P 500 Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 5,000 0,000 T. Rowe Price Retirement 040 $ 4,07 S&P 500 Index $,60 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % Low Moderate High This investment has shown a relatively moderate range of price fluctuations in the past. For this reason, it currently lands in the middle third of all investments with records of at least three years. However, this investment may experience larger or smaller price declines or price increases depending on market conditions. To offset some of the investment s risk, investors may wish to own investments with different portfolio makeups or investment strategies. Target Date Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Target Date category. S&P 500 Index TR: S&P 500 is a trademark of The McGraw-Hill Companies, Inc. The S&P 500 is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock market performance. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

10 As of September 0, 0 Category: Target Date 050+ Target-date portfolios provide a diversified exposure to stocks, bonds, and cash for those investors who have a specific date in mind (in this case, the years 050 and beyond) for retirement or another goal. These portfolios aim to provide investors with an optimal level of return and risk, based solely on the target date. Over time, management adjusts the allocation among asset classes to more conservative mixes as the target date approaches. The investment seeks the highest total return over time consistent with an emphasis on both capital growth and income. The fund invests in a set of underlying T. Rowe Price mutual funds representing various asset classes and sectors. Its allocation between T. Rowe Price stock and bond funds will change over time in relation to its target retirement date. It normally invests 90% in stocks and 0% in bonds. While the investment is non-diversified, it invests in diversified holdings. The target date in a target date fund is the approximate date an investor plans to start withdrawing money. The funds generally shift to a more conservative investment mix over time. Earnings and principal value are not guaranteed at any time including the target date. and mid-cap stocks are often more volatile than large-cap stocks. Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. The principal risk of investing in value funds is that the price of the security may not approach its anticipated value. Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. These risks are likely to be greater for emerging markets than in developed markets. Funds that invest in bonds are subject to interest rate risk and can lose principal value when interest rates rise. b- fee: 0.5% Expense Ratio (gross) **:.0% of fund assets Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $0.00 Fund Date: /9/006 Total Fund Assets($mil): 0.56 PARFX Jerome A. Clark Management Company: T. Rowe Price Associates, Inc.. Telephone: T. Rowe Price Retirement 050 Fund (Advisor Class) Portfolio Snapshot as of 06/0/0 ^ Cash.6 Stocks* Bonds 7.54 Other.05 *Foreign Stock 4.86 Industry Sectors as of 06/0/0 ^ Cyclical 9. Basic Materials 7.55 Consumer Cyclical.0 Financial Services 5.4 Real Estate. Defensive 6.79 Consumer Defensive 5.65 Healthcare 8. Utilities.0 Sensitive Communication Services 4.7 Energy 0.80 Industrials 4.87 Technology 4.04 Total Number of Stock Holdings 0 Annual Turnover Ratio % Top Ten Holdings as of 06/0/0 ^ T. Rowe Price Growth Stock.60 T. Rowe Price Value.08 T. Rowe Price Equity Index T. Rowe Price New Income 5.56 T. Rowe Price International Stock Fd 5.5 T. Rowe Price Overseas Stock 5.6 T. Rowe Price Intl Gr & Inc 5. T. Rowe Price Real Assets 4. T. Rowe Price Mid-Cap Value.74 T. Rowe Price Mid-Cap Growth.68 Balanced/Asset Allocation Investment Overall Year Out of 4 Target Date 050+ Funds Out of 4 Target Date 050+ Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since T. Rowe Price Retirement % -.9%.06% % Target Date 050+ Average S&P 500 Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000,000 0,000 8,000 6,000 T. Rowe Price Retirement 050 $ 9,40 S&P 500 Index $ 8,8 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % Low Moderate High This investment has shown a relatively moderate range of price fluctuations in the past. For this reason, it currently lands in the middle third of all investments with records of at least three years. However, this investment may experience larger or smaller price declines or price increases depending on market conditions. To offset some of the investment s risk, investors may wish to own investments with different portfolio makeups or investment strategies. Target Date 050+ Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Target Date 050+ category. S&P 500 Index TR: S&P 500 is a trademark of The McGraw-Hill Companies, Inc. The S&P 500 is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock market performance. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

11 As of September 0, 0 Category: Moderate Allocation Moderate-allocation funds seek to provide both capital appreciation and income by investing in three major areas: stocks, bonds, and cash. These funds tend to hold larger positions in stocks than conservative-allocation funds. These funds typically have 50% to 70% of assets in equities and the remainder in fixed income and cash. The investment seeks the highest possible income; long-term growth of capital is a secondary consideration. The fund invests primarily in income-producing equity instruments (including common stocks, preferred stocks and convertible securities) and investment-grade quality debt securities. It invests at least 65% of total assets in income-producing equity securities. The fund may invest up to 5% of total assets in securities of foreign issuers and may invest up to 5% of total assets in real estate investment trusts. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. High-yield securities ("junk bonds") are generally considered speculative because they present a greater risk of loss than higher-quality debt securities; these securities may also be subject to greater price volatility. An investment in real estate securities is subject to greater price volatility and the special risks associated with investments in such funds. Derivatives may increase the volatility of a fund s net asset value and may result in a loss to a fund. b- fee: 0.5% Expense Ratio (gross) **: 0.78% of fund assets Fund Date: 08/0/960 Total Fund Assets($mil): ACEIX Chuck Burge Mark Laskin Mary Jayne Maly Thomas Bastian Sergio Marcheli Management Company: Invesco Advisers, Inc.. Telephone: Invesco Van Kampen Equity and Income Fund (Class A) Portfolio Snapshot as of 06/0/0 ^ Cash 4.44 Stocks* 64.8 Bonds 7.4 Other.8 *Foreign Stock 4.7 Industry Sectors as of 06/0/0 ^ Cyclical.96 Basic Materials.5 Consumer Cyclical 8.0 Financial Services 4.4 Real Estate 0.00 Defensive 6.87 Consumer Defensive.8 Healthcare.8 Utilities 4. Sensitive 9.7 Communication Services 6.6 Energy.7 Industrials 9.89 Technology 8.94 Total Number of Stock Holdings 79 Total Number of Bond Holdings 78 Annual Turnover Ratio % 4 Top Ten Holdings as of 06/0/0 ^ JPMorgan Chase & Co.99 General Electric Co.66 US Treasury Note (Fut). Marsh & McLennan Companies, Inc..0 US Treasury Note.75%.00 Invesco Treasurer s Ser Tr Prem Instl.95 Invesco Short Term Inv Liq Assets Instl.95 UnitedHealth Group Inc.66 Anadarko Petroleum Corp.64 Pfizer Inc.64 Balanced/Asset Allocation Investment Overall Year 5 Year 0 Year 4 Out of 847 Moderate Allocation Funds Out of 847 Moderate Allocation Funds Out of 7 Moderate Allocation Funds 4 Out of 86 Moderate Allocation Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since Invesco Van Kampen Equity and -9.5% -.45%.4% 0.50% 4.58% -- Moderate Allocation Average Russell 000 Value Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 5,000 0,000 Invesco Van Kampen Equity and $ 4,59 Russell 000 Value Index $,0 9/0 9/0 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % This investment has shown a relatively moderate range of price fluctuations in the past. For this reason, it currently lands in the middle third of all investments with records of at least three years. However, this investment may experience larger or smaller price declines or price increases depending on market conditions. To offset some of the investment s risk, investors may wish to own investments with different portfolio makeups or investment strategies. Moderate Allocation Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Moderate Allocation category. Russell 000 Value Index: The Russell 000 Value Index is an unmanaged index that measures the performance of those Russell 000 companies with lower price-tobook ratios and lower forecasted growth values. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

12 As of September 0, 0 Category: Value -value funds focus on big companies that are less expensive or growing more slowly than other large-cap stocks. These funds often feature investments in energy, financial, or manufacturing sectors. The investment seeks capital appreciation; current income is secondary. The fund invests at least 80% of net assets (plus any borrowings for investment purposes) in U.S. traded equity securities of large cap companies. U.S. traded equity securities may include listed American Depositary Receipts ("ADRs"). It targets companies with market capitalizations similar to those of companies in the Russell 000fi Value Index. Equity funds are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees. Companies that issue value securities may have experienced adverse business developments or may be subject to special risks that have caused their securities to be out of favor. If a portfolio manager s assessment of a company s prospects is wrong, or if the market does not recognize the value of the company, the price of its securities may decline or may not approach the value that the portfolio manager anticipates. Expense Ratio (gross) **: 0.8% of fund assets Fund Date: 0//99 Total Fund Assets($mil): STVTX Mills Riddick Management Company: Ridgeworth Capital Management, Inc.. Telephone: RidgeWorth Cap Value Equity Fund (I Shares) Portfolio Snapshot as of 08//0 ^ Cash 9.5 Stocks* Bonds 0.00 Other 0.00 *Foreign Stock.9 Industry Sectors as of 08//0 ^ Cyclical 9.00 Basic Materials.89 Consumer Cyclical 5. Financial Services 9.79 Real Estate 0.00 Defensive 6.0 Consumer Defensive 8. Healthcare.07 Utilities 4.90 Sensitive Communication Services 6.0 Energy.00 Industrials 7.57 Technology 8.0 Total Number of Stock Holdings 6 Annual Turnover Ratio % 4 Top Ten Holdings as of 08//0 ^ ConocoPhillips.5 Pfizer Inc.46 Wells Fargo & Co.45 AT&T Inc.44 PPL Corp.4 Stock Investment Overall Year 5 Year 0 Year 4 Out of 4 Value Funds Out of 4 Value Funds Out of 964 Value Funds 4 Out of 545 Value Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since RidgeWorth Cap Value Equ -.08% -.%.7% -0.65% 4.09% -- Value Average Russell 000 Value Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 5,000 RidgeWorth Cap Value Equ $,60 Russell 000 Value Index $,0 JPMorgan Chase & Co.40 0,000 Emerson Electric Co..7 Johnson & Johnson.5 Occidental Petroleum Corporation.4 Lowe s Companies Inc..0 9/0 9/0 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % This investment has shown a relatively moderate range of price fluctuations in the past. For this reason, it currently lands in the middle third of all investments with records of at least three years. However, this investment may experience larger or smaller price declines or price increases depending on market conditions. To offset some of the investment s risk, investors may wish to own investments with different portfolio makeups or investment strategies. Value Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Value category. Russell 000 Value Index: The Russell 000 Value Index is an unmanaged index that measures the performance of those Russell 000 companies with lower price-tobook ratios and lower forecasted growth values. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

13 As of September 0, 0 Category: Blend -blend funds have portfolios that are fairly representative of the overall stock market in both size, growth rates, and price. They tend to invest across the spectrum of U.S. industries and owing to their broad exposure, the funds returns are often similar to those of the S&P 500 Index. The investment seeks to match the performance of the S&P 500 Indexfi. The fund seeks to match the performance of the S&P 500 Index by using a full replication strategy. This involves investing substantially all of its assets in all of the stocks in the S&P 500 Index. The fund attempts to maintain holdings of each stock in proportion to its weight in the index. Equity funds are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees. Unlike other funds, which generally seek to "beat" the market, Index Funds seek to match their respective indices. It is not possible to invest in an index. Expense Ratio (gross) **: 0.7% of fund assets Redemption Fee: 0.500% Redemption Fee Holding Period: 90 Days Redemption Fee Effective Date: 09/0/0 Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $0.00 Trading Blackout Effective Date: 09/0/0 Fund Date: 0/0/990 Total Fund Assets($mil): 64.5 PREIX Ken D. Uematsu E. Frederick Bair Management Company: T. Rowe Price Associates, Inc.. Telephone: T. Rowe Price Equity Index 500 Fund Portfolio Snapshot as of 06/0/0 ^ Cash.64 Stocks* 97.8 Bonds 0.00 Other 0.56 *Foreign Stock 0.08 Industry Sectors as of 06/0/0 ^ Cyclical 8.4 Basic Materials.47 Consumer Cyclical 9.7 Financial Services 4.05 Real Estate.7 Defensive 5.50 Consumer Defensive 0.9 Healthcare.5 Utilities.4 Sensitive Communication Services 4.8 Energy.5 Industrials.55 Technology 6.6 Total Number of Stock Holdings 498 Annual Turnover Ratio % 8 Top Ten Holdings as of 06/0/0 ^ Exxon Mobil Corporation.8 Apple, Inc..54 Chevron Corp.69 International Business Machines Corp.69 General Electric Co.6 Stock Investment Overall Year 5 Year 0 Year 4 Out of 65 Blend Funds Out of 65 Blend Funds Out of 408 Blend Funds 4 Out of 8 Blend Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since T. Rowe Price Equity Index % 0.88%.0% -.40%.56% -- Blend Average S&P 500 Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 4,000,000 0,000 T. Rowe Price Equity Index 500 $ 0,6 S&P 500 Index $ 0,508 Microsoft Corporation.58 8,000 AT&T Inc.5 Johnson & Johnson.49 6,000 Reserve Invt-SBI.46 Procter & Gamble Company.45 9/0 9/0 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % This investment has shown a relatively moderate range of price fluctuations in the past. For this reason, it currently lands in the middle third of all investments with records of at least three years. However, this investment may experience larger or smaller price declines or price increases depending on market conditions. To offset some of the investment s risk, investors may wish to own investments with different portfolio makeups or investment strategies. Blend Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Blend category. S&P 500 Index TR: S&P 500 is a trademark of The McGraw-Hill Companies, Inc. The S&P 500 is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock market performance. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

14 As of September 0, 0 Category: Mid-Cap Value Some mid-cap value funds focus on mediumsize companies while others land here because they own a mix of small-, mid-, and large-cap stocks. All look for stocks that are less expensive or growing more slowly than the market. Many of their holdings come from financial, energy, and manufacturing sectors. The investment seeks long-term growth of capital. The fund invests primarily in a diversified portfolio of equity securities of small- to mid-capitalization U.S. companies, generally representing 60 to 5 companies. It normally invests at least 80% of net assets in securities of small- to mid-capitalization companies, which, at the time of investment, fall within the capitalization range between the smallest company in the Russell 500(TM) Value Index and the greater of $5 billion or the market capitalization of the largest company in the Russell 500(TM) Value Index. Mid-capitalization companies are generally less established and their stocks may be more volatile and less liquid than the securities of larger companies. Stocks of small companies may be subject to higher price volatility and small companies may be more vulnerable to adverse business or market developments than larger, more establishedcompanies.companiesthatissue value securities may have experienced adverse business developments or may be subject to special risks that have caused their securities to be out of favor. If a portfolio manager s assessment of a company s prospects is wrong, or if the market does not recognize the value of the company, the price of its securities may decline or may not approach the value that the portfolio manager anticipates. Foreign securities may be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, and political and economic instability. These risks are likely to be greater for emerging markets than for developedmarkets. Derivativesmayincrease the volatility of a fund s net asset value and may result in a loss to a fund. b- fee: 0.5% Expense Ratio (gross) **:.0% of fund assets Fund Date: 0/0/005 Total Fund Assets($mil): 4.4 ABSKX Joseph G. Paul James MacGregor Andrew Weiner Management Company: AllianceBernstein LP. Telephone: AllianceBernstein -Mid Cap Value Fund (Class K) Portfolio Snapshot as of 07//0 ^ Cash 0.00 Stocks* Bonds 0.5 Other.8 *Foreign Stock.6 Industry Sectors as of 07//0 ^ Cyclical 5.75 Basic Materials 6.99 Consumer Cyclical 7.4 Financial Services 8.0 Real Estate 9.50 Defensive 9.8 Consumer Defensive 7.04 Healthcare 4.00 Utilities 8.78 Sensitive 8.4 Communication Services 0.00 Energy 8.46 Industrials 7. Technology.7 Total Number of Stock Holdings 98 Total Number of Bond Holdings Annual Turnover Ratio % 57 Top Ten Holdings as of 07//0 ^ The Jones Group Inc.45 BRE Properties, Inc..40 Constellation Brands Inc. A.8 Camden Property Trust.7 NV Energy Inc.5 PolyOne Corporation.5 CapitalSource Inc.5 Big Lots, Inc.. Platinum Underwriters Holdings, Ltd.. Portland General Electric Company. Stock Investment Overall Year 5 Year Out of 54 Mid-Cap Value Funds Out of 54 Mid-Cap Value Funds Out of 94 Mid-Cap Value Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since AllianceBern -Mid Cap Val -0.0% -8.5%.0% 0.8% --.% Mid-Cap Value Average Russell 000 Value Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 5,000 0,000 AllianceBern -Mid Cap Val $,94 Russell 000 Value Index $ 0,56 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies. Mid-Cap Value Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Mid-Cap Value category. Russell 000 Value Index: The Russell 000 Value Index is an unmanaged index that measures the performance of those Russell 000 companies with lower price-tobook ratios and lower forecasted growth values. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

15 As of September 0, 0 Category: Mid-Cap Growth Some mid-cap growth funds invest in stocks of all sizes, thus leading to a mid-cap profile, but others focus on midsize companies. Mid-cap growth funds target firms that are projected to grow faster than other mid-cap stocks, therefore commanding relatively higher prices. Many of these stocks are found in the volatile technology, health-care, and services sectors. The investment seeks long-term capital growth. The fund normally invests at least 80% of net assets in equity securities of small-cap and mid-cap companies. cap companies are companies within the market capitalization range of companies in the Russell 500 Index and mid-cap companies are companies within the market capitalization range of companies in the Russell Midcapfi Index. It invests predominantly in equity securities, primarily in common stock. The fund, from time to time, may have significant positions in particular sectors such as technology. Mid-capitalization companies are generally less established and their stocks may be more volatile and less liquid than the securities of larger companies. Stocks of small companies may be subject to higher price volatility and small companies may be more vulnerable to adverse business or market developments than larger, more established companies. The fund includes investments in the technology sector, which has been highly volatile and involves special risks. b- fee: 0.5% Expense Ratio (gross) **:.0% of fund assets Fund Date: 0/4/99 Total Fund Assets($mil): 0.87 FRSGX James Cross Michael McCarthy Edward B. Jamieson Management Company: Franklin Advisers, Inc.. Telephone: Franklin -Mid Cap Growth Fund (Class A) Portfolio Snapshot as of 06/0/0 ^ Cash.66 Stocks* 97. Bonds 0.00 Other 0.0 *Foreign Stock 4.57 Industry Sectors as of 06/0/0 ^ Cyclical 9.9 Basic Materials 4.6 Consumer Cyclical 9.9 Financial Services 5.94 Real Estate 0.00 Defensive 6.00 Consumer Defensive 4.7 Healthcare 0.67 Utilities 0.60 Sensitive Communication Services 0.75 Energy 6.9 Industrials 9.64 Technology 7.8 Total Number of Stock Holdings 0 Annual Turnover Ratio % 44 Top Ten Holdings as of 06/0/0 ^ SM Energy Co. Celanese Corporation.9 Ametek, Inc..6 Nuance Communications, Inc..60 Mettler-Toledo International, Inc..59 BorgWarner Inc.55 Waters Corporation.8 Wolverine World Wide.4 Sensata Technologies Holding B.V..9 Agilent Technologies Inc.9 Stock Investment Overall Year 5 Year 0 Year 4 Out of 676 Mid-Cap Growth Funds Out of 676 Mid-Cap Growth Funds Out of 60 Mid-Cap Growth Funds 4 Out of 404 Mid-Cap Growth Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since Franklin -Mid Cap Growth -5.4% -.68% 4.67%.9% 4.95% -- Mid-Cap Growth Average Russell 500 Growth Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 5,000 0,000 5,000 Franklin -Mid Cap Growth $ 0,6 Russell 500 Growth Index $,074 9/0 9/0 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Oct. 99-Dec % Worst -month Period Sep. 08-Nov % In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies. Mid-Cap Growth Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Mid-Cap Growth category. Russell 500 Growth Index: The Russell 500 Growth Index is an unmanaged index that measures the performance of those Russell 500 companies with higher priceto-book ratios and higher forecasted growth values. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

16 As of September 0, 0 Category: Growth -growth funds invest in big companies that are projected to grow faster than other large-cap stocks. Most of these funds focus on companies in rapidly expanding industries. The investment seeks long-term growth of capital. The fund invests in companies that have the potential for above-average future earnings growth. It normally invests at least 80% of assets in largecapitalization companies which have a market capitalization in excess of $4.0 billion and generally are improving their financial returns. The fund is permitted to invest up to 0% of net assets in foreign securities. Foreign securities may be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, and political and economic instability. Expense Ratio (gross) **: 0.94% of fund assets Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $ Fund Date: 04/0/005 Total Fund Assets($mil): 70.6 MLAIX R. Bart Wear Clark J. Winslow Justin H. Kelly Management Company: New York Life Investment Management LLC. Telephone: MainStay Cap Growth Fund (Class I) Portfolio Snapshot as of 07//0 ^ Cash.90 Stocks* 96. Bonds 0.00 Other 0.00 *Foreign Stock 4. Industry Sectors as of 07//0 ^ Cyclical 9.4 Basic Materials 5.86 Consumer Cyclical 5.4 Financial Services 8. Real Estate 0.00 Defensive 4.09 Consumer Defensive.7 Healthcare 0.6 Utilities 0.00 Sensitive 56.5 Communication Services.75 Energy 9.9 Industrials 4.55 Technology 0.9 Total Number of Stock Holdings 65 Annual Turnover Ratio % 9 Top Ten Holdings as of 07//0 ^ Apple, Inc Qualcomm, Inc..0 Union Pacific Corp.00 Schlumberger NV.9 Amazon.com Inc.84 Visa, Inc..65 Cognizant Technology Solutions Corporati.57 Danaher Corporation.47 EMC Corporation.46 Oracle Corporation.44 Stock Investment Overall Year 5 Year Out of 479 Growth Funds Out of 479 Growth Funds Out of 6 Growth Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since MainStay Cap Growth I -8.8%.% 4.5%.8% 5.0% -- Growth Average Russell 000 Growth Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 6,000 4,000,000 0,000 8,000 MainStay Cap Growth I $,960 Russell 000 Growth Index $,48 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % Low Moderate High This investment has shown a relatively moderate range of price fluctuations in the past. For this reason, it currently lands in the middle third of all investments with records of at least three years. However, this investment may experience larger or smaller price declines or price increases depending on market conditions. To offset some of the investment s risk, investors may wish to own investments with different portfolio makeups or investment strategies. Growth Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Growth category. Russell 000 Growth Index: The Russell 000 Growth Index is an unmanaged index that measures the performance of those Russell 000 companies with higher priceto-book ratios and higher forecasted growth values. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

17 As of September 0, 0 Category: Foreign Blend Foreign large-blend funds invest in a variety of big international stocks. Most of these funds divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. They tend to invest the rest in emerging markets such as Hong Kong, Brazil, Mexico and Thailand. These funds typically will have less than 0% of assets invested in U.S. stocks. The investment seeks to provide long-term growth of capital. The fund invests primarily in common stocks of issuers in Europe and the Pacific Basin that the investment adviser believes have the potential for growth. Growth stocks are stocks that the investment adviser believes have the potential for aboveaverage capital appreciation. It normally invests at least 80% of net assets in securities of issuers in Europe and the Pacific Basin. The fund may invest a portion of its assets in common stocks and other securities of companies in countries with developing economies and/or markets. Growth investing involves buying stocks that have relatively high price-to-earnings ratios. Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. During periods of growth stock underperformance,afund sperformancemay suffer. Foreign securities may be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, and political and economic instability. These risks are likely to be greater for emerging markets than for developed markets. b- fee: 0.5% Expense Ratio (gross) **: 0.85% of fund assets Trading Blackout Holding Period: 0 Days Trading Blackout Min Amount: $ Fund Date: 06/07/00 Total Fund Assets($mil): REREX Jonathan Knowles Sung Lee Nicholas J. Grace Jesper Lyckeus Stephen E. Bepler Management Company: Capital Research and Management Company. Telephone: American Funds - EuroPacific Growth Fund (Class R4) Portfolio Snapshot as of 06/0/0 ^ Cash 5.6 Stocks* 9.4 Bonds 0.00 Other.4 *Foreign Stock 9.4 Industry Sectors as of 06/0/0 ^ Cyclical Basic Materials 7.77 Consumer Cyclical.9 Financial Services 9.76 Real Estate.4 Defensive. Consumer Defensive 0.0 Healthcare 0. Utilities.00 Sensitive 7.09 Communication Services 9.40 Energy 6.5 Industrials.46 Technology 8.7 Total Number of Stock Holdings 9 Annual Turnover Ratio % Top Ten Holdings as of 06/0/0 ^ Novo Nordisk A/S.5 America Movil SAB de CV ADR L. Novartis AG.8 Softbank Corporation.70 Daimler AG.6 Nestle SA.46 Bayer AG.4 Samsung Electronics Co Ltd.40 HTC Corporation.4 Anheuser-Busch InBev SA.08 Stock Investment Overall Year 5 Year Out of 75 Foreign Blend Funds Out of 75 Foreign Blend Funds Out of 54 Foreign Blend Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since American Funds EuroPacific Gr -7.6% -.67% 0.50% -0.69% % Foreign Blend Average MSCI EAFE Index mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 5,000 0,000 5,000 0,000 American Funds EuroPacific Gr $ 8,50 MSCI EAFE Index $ 5,5 9/0 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies. Foreign Blend Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Foreign Blend category. MSCI EAFE Index: The Morgan Stanley Capital International (MSCI) Europe, Australasia, and Far East Index - the EAFE Index - is an unmanaged, capitalizationweighted index containing approximately 985 equity securities located outside the U.S. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

18 As of September 0, 0 Category: Diversified Emerging Mkts Diversified emerging-markets funds invest at least 50% of stock assets in developing nations. Most funds divide their assets among 0 or more nations, although they tend to focus on the emerging markets of Asia and Latin America rather than on those of the Middle East, Africa, or Europe. Thus, popular destinations include Hong Kong, Korea, Mexico, and Brazil. Whatever their favorite nations, all these funds have the potential for large price swings. The investment aggressively seeks capital appreciation. The fund mainly invests in common stocks of issuers in emerging and developing markets throughout the world and may invest up to 00% of total assets in foreign securities. It normally invests at least 80% of net assets, plus borrowings for investment purposes, in equity securities of issuers whose principal activities are in at least three developing markets. The fund primarily invests in companies with high growth potential. Foreign securities may be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, and political and economic instability. These risks are likely to be greater for emerging markets than for developed markets. b- fee: 0.5% Expense Ratio (gross) **:.5% of fund assets Fund Date: /8/996 Total Fund Assets($mil): 9.9 ODMAX Justin Leverenz Management Company: OppenheimerFunds, Inc.. Telephone: Oppenheimer Developing Markets Fund (Class A) Portfolio Snapshot as of 08//0 ^ Cash.7 Stocks* Bonds 0.09 Other 0.09 *Foreign Stock Industry Sectors as of 08//0 ^ Cyclical 9.6 Basic Materials 0. Consumer Cyclical.5 Financial Services.69 Real Estate.9 Defensive.9 Consumer Defensive.5 Healthcare.84 Utilities 0.00 Sensitive 7.54 Communication Services 7.00 Energy 9.7 Industrials.87 Technology 7.96 Total Number of Stock Holdings 5 Total Number of Bond Holdings Annual Turnover Ratio % Top Ten Holdings as of 08//0 ^ America Movil SAB de CV ADR L 4. Infosys Ltd.6 Nhn Corp.5 HTC Corporation.6 Mexican Economic Development, Inc. ADR.4 Petroleo Brasileiro SA Petrobras ADR. Impala Platinum Holdings. BMF Bovespa S.A. Bolsa Valores Merc Fut.99 E-Mart Co Ltd.96 CNOOC, Ltd..96 Stock Investment Overall Year 5 Year 0 Year 4 Out of 4 Diversified Emerging Mkts Funds Out of 4 Diversified Emerging Mkts Funds Out of Diversified Emerging Mkts Funds 4 Out of 4 Diversified Emerging Mkts Funds emphasis on downward variations and rewarding consistent performance. The top 0% of funds in each category receive five stars, then next.5% receive four stars, the middle 5% receive three stars, the next.5% receive two stars, and the bottom 0% receive one star. The Overall Morningstar three-, five- and 0-year (if applicable) Morningstar Rating metrics. Average Annual Total Returns as of 09/0/0 YTD Year Year 5Year 0Year Since Oppenheimer Developing Markets -.0% -4.04% 9.7% 8.% 9.6% -- Diversified Emerging Mkts Average MSCI Emerging Markets Free Ind mylife.newyorklife.com or call a New York Life representative at (800) Hypothetical Growth of $0,000 60,000 55,000 50,000 45,000 40,000 5,000 0,000 5,000 0,000 5,000 0,000 Oppenheimer Developing Markets $ 45,598 MSCI Emerging Markets Free Ind $ 6,76 9/0 9/0 9/0 9/04 9/05 9/06 9/07 9/08 9/09 9/0 9/ Best -month Period Mar. 09-May % Worst -month Period Sep. 08-Nov % In the past, this investment has shown a wide range of price fluctuations relative to other investments. This investment may experience significant price increases in favorable markets or undergo large price declines in adverse markets. Some of this risk may be offset by owning other investments that follow different investment strategies. Diversified Emerging Mkts Average is the average annual total return of the universe of mutual funds designated by Morningstar, Inc. as comprising the Morningstar Diversified Emerging Mkts category. MSCI Emerging Markets Free Index: The Morgan Stanley Capital International (MSCI) Emerging Markets Free Index is an unmanaged index of a sample of companies representative of the market structure of 6 Emerging Markets countries. Results assume the reinvestment of all capital gain and dividend distributions. An investment cannot be made Fund data, Style Box and Rating 0 Morningstar, Inc. All Rights reserved. This information: () is proprietary to Morningstar and/or its content providers; () may not be copied or distributed; and () is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible Securities distributed by NYLIFE Distributors LLC, 69 Lackawanna Avenue, Parsippany NJ, Please log onto mylife.newyorklife.com or call a New York Life representative at (800) for a prospectus, and, if available, a summary prospectus.

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