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Margaret Kirch Cohenmargaret.cohen@morningstar.com
New York Life Benefit Services Selects Morningstar ClearFuture for Online Investment Advice and Education

CHICAGO, Feb 05, 2002 – Morningstar Associates, LLC, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc., today announced that New York Life Benefit Services LLC (NYLB), a retirement affiliate of New York Life Investment Management LLC (NYLIM), has selected Morningstar® ClearFutureSM as its online retirement advice and education provider. NYLB will make ClearFuture available to its client base of more than 300 plan sponsors and their 300,000 participants.

"We are pleased to work with NYLB," said John Rekenthaler, president of investment advice for Morningstar Associates, LLC. "NYLB is a leader in the field of retirement plan benefits, and its selection of ClearFuture demonstrates a commitment to educating plan participants and helping them make the most of their retirement plans."

NYLB will make Morningstar® ClearFutureSM's retirement education and investment research modules available to all of its plan sponsor clients and their participants. Individual plan sponsor clients also can make ClearFuture's investment advice module available to their participants. The advice module provides participants with specific advice and recommendations for investing within their retirement plan. Investment recommendations are based on fundamental portfolio analysis made possible by Morningstar's proprietary database of more than 35,000 mutual funds, stocks, variable annuities, closed-end funds, and separate accounts.

"For many workers, defined-contribution plans are an increasingly significant part of their entire retirement picture," said Tom Clough, president of NYLB. "As a leading provider of retirement plan services, we recognize the importance of educating, communicating and making advice available to our clients and their participants. By utilizing the great tools provided by Morningstar® ClearFutureSM, we can continue to achieve that goal."

Morningstar® ClearFutureSM is an online investment education, research, asset allocation, and advice service for all levels of investors. ClearFuture provides guidance or advice on defined-contribution plans such as 401(k), 403(b), 457(b), and thrift plans, as well as on IRAs. The tool, which takes about 20 minutes to complete, gathers detailed financial information from participants to provide investment suggestions for their deferred compensation plans. It offers personalized goal planning, takes into account outside assets, offers retirement income analysis based on enhanced Monte Carlo simulations, and includes an innovative "bear market simulator" that tests risk tolerance.

Morningstar® ClearFutureSM is currently available through more than 15,000 corporate retirement plans throughout the United States, through alliances with firms like T. Rowe Price, MassMutual and MFS. Morningstar Associates recently announced an agreement with Nationwide Retirement Solutions to provide retirement education, guidance and advice to Nationwide's 8,200 public sector plan sponsors, representing 1.5 million plan participants. This is the first and largest agreement of its kind in the public sector market. 

About Morningstar Associates, LLC
The Morningstar® ClearFutureSM retirement advice program is provided by Morningstar Associates, LLC, a registered investment advisor and a wholly owned subsidiary of Chicago-based Morningstar, Inc., a global investment research firm.

Morningstar, Inc.'s extensive line of Internet, software, and print services offers news, data, and analysis on stocks, mutual funds, closed-end funds, and variable annuities. Morningstar Associates, LLC does not own, operate, or hold any interest in investment products. The financial data and methodology used in ClearFuture are proprietary to Morningstar, Inc., and/or Morningstar Associates, LLC. Although the data are gathered from reliable sources, neither Morningstar, Inc. nor Morningstar Associates, LLC guarantees their accuracy, completeness, or timeliness.

About New York Life Benefit Services, LLC
NYLB, based in Norwood, Mass., specializes in comprehensive defined-contribution, defined-benefit, and deferred-compensation plans. With its affiliates, NYLIM has approximately $150 billion in assets under management as of December 31, 2001, and provides investment management services to a wide range of individual, corporate, public, and Taft-Hartley clients. The firm also serves individual and institutional shareholders by providing access to several families of mutual funds* and is widely recognized for its leadership in bundled defined-contribution and bundled defined-benefit retirement plans, guaranteed products, real estate investments, and alternative investments.

*Securities offered through NYLIFE Distributors Inc., 169 Lackawanna Ave., Parsippany, NJ 07054

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