MONY Adds New Portfolios and Investment Advisors to COLI Offering

Business Wire, June 24, 2002

Business Editors

NEW YORK--(BUSINESS WIRE)--June 24, 2002

MONY Life Insurance Company of America (MONY), a member company of The MONY Group Inc. (NYSE: MNY), today announced the addition of 16 portfolios and five new investment advisors to the company's corporate-owned variable universal life insurance (COLI) product. MONY's COLI product now offers a total of 54 portfolios from 24 investment advisors.

The 16 new portfolios significantly expand the product's investment style classification coverage with new choices offered in: mid and small cap equities, specialty and sector, international value, U.S. and emerging market bonds and balanced portfolios.

The new investment advisors are INVESCO Funds Group, Inc., Fred Alger Management, Inc., Lord Abbett, MFS Investment Management and Pacific Investment Management Company LLC (PIMCO).

"Each of our corporate customers has unique investment needs and looks for a range of options when purchasing and maintaining their COLI product," said David Bridges, assistant vice president and head of investment options for Corporate Strategies Group (CSG), MONY's COLI distribution unit. "The addition of these portfolios and managers greatly broadens our offering and provides customers with an extensive menu of high-quality managers offering a wide array of investment style options."

About MONY's COLI Products

Since 1997, MONY's COLI product portfolio has helped corporations and banks attract, retain and reward highly compensated employees such as presidents, vice presidents and department heads, by offering a way of informally funding non-qualified compensation plans, such as Supplemental Executive Retirement Plans (SERPs). In addition to improved executive retention, businesses use COLI-related products for enhanced balance sheet management.

About The MONY Group Inc.

The MONY Group Inc. (NYSE: MNY), with $57 billion in assets under management and administration, is a financial services firm that manages a portfolio of member companies. These companies include MONY Life Insurance Company, The Advest Group, Inc., Enterprise Capital Management, Matrix Capital Markets Group, Inc., Lebenthal & Co., and U.S. Financial Life Insurance Company. These companies manufacture and distribute protection, asset accumulation and retail brokerage products and services to individuals, corporations and institutions through advisory and wholesale distribution channels. Additional company information is available at www.mony.com.

Corporate sponsored variable universal life (CSVUL) policy is sold by prospectus, which contains more information including charges and expenses. Please read the prospectus carefully before investing or sending money. A prospectus can be obtained through MONY Securities Corporation.

CSVUL Issued by: MONY Life Insurance Company of America (An Arizona Stock Corporation not licensed

to solicit or transaction business in New York.) 1740 Broadway

New York, NY 10019 800/736-0166

CSVUL Distributed by: MONY Securities Corporation Member NASD, SIPC 1740 Broadway New York, NY 10019 800/736-0166

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    CONTACT: MONY Life Insurance Company of America, New York
             Media Contacts: Doug Myers, 212/708-2472
                            Christopher Breslin 212/708-2435
                                        or
             Investor Contact: Jay Davis, 212/708-2917

    KEYWORD: NEW YORK
    INDUSTRY KEYWORD: BANKING HUMAN RESOURCES INSURANCE PRODUCT
    SOURCE: MONY Life Insurance Company of America