Institutional Life Services and Institutional Life Administration Hire CEO

Andrew D. Terrell to Lead New Life Settlements Companies

Institutional Life Services, LLC, (ILS) and Institutional Life Administration, LLC, (ILA), companies newly created by Goldman Sachs, National Financial Partners and Genworth Financial today announced Andrew D. Terrell as their first chief executive officer. ILS andILA are a marketplace and clearing operation, respectively, formed to create acompetitive and compliant institutional marketplace for the settlement of life insurance policies.

Prior to joining ILS and ILA, Terrell was a managing director of Bear Stearns & Co. Inc. which he joined in 2004. He headed sales and originationin the Structured Equity Products division, and co-headed the Insurance Linked Products Group. In this position he sourced life settlement products from agents, brokers, providers and premium finance entities as well as managed the administration, due diligence and quality control functions related to life settlements. Terrell represented Bear Stearns on the board of th eInstitutional Life Markets Association and served on its communications, legal and regulatory and membership committees.
“I’ve been closely involved in the evolution of the life settlements market and am excited to lead these transformative companies. The quality of both ILS and ILA stems from the expertise of their founders in capital markets investment, independent insurance distribution and primary insurance issuance” said Terrell.

“Andrew’s experience in this growing market, as well his reputation withour firms, will help ensure that ILS and ILA will lead in setting the standards for this market and in servicing high net worth clients. We look forward to working with him,” said Douglas W. Hammond, National Financial Partners Chief Operating Officer and General Counsel.

Alex Dubitsky, Managing Director at Goldman Sachs and head of its Longevity Markets Group said, “ILS and ILA will facilitate the scalable origination and distribution of longevity risk to the capital markets, enabling owners of life insurance to appropriately manage a key financial asset. Andrew brings leadership and experience in both origination and capital markets initiatives.”

“Income and liquidity are important to the fast growing high net worth mature market segment,” said Cheryl Whaley, Senior Vice President, Genworth Financial. “Andrew’s industry knowledge and background will help ILS and ILA become the market leaders in providing senior consumers products that offer liquidity and retirement income while assuring the highest level of transparency and compliance.”
Terrell graduated from the University of London with a Bachelor of Laws and completed the Law Society Part II Examinations at the Law Society College, in Guildford, UK.

About Institutional Life Services, LLC and Institutional LifeAdministration, LLC ILS and ILA were formed to create a competitive and compliant institutional marketplace for the settlement of life insurance policies. ILS brings together high quality institutional investors and seller representatives to transact life settlements that adhere to uniform high standards of practice. ILA services life settlement transactions post-closing, making this the only market solution available that permanently protects the insured’s identity. The companies will begin accepting policies in the third quarter of 2008, pending regulatory approvals.

About Goldman Sachs Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide toa substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in1869, it is one of the oldest and largest investment banking firms. The firmis headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

About National Financial Partners Corp. Founded in 1998, NFP (NYSE: NFP) is a leading independent distributor of financial services products to high net worth individuals and entrepreneurial companies. NFP is headquartered in New York and operates a distribution network of over 180 owned firms.

About Genworth Financial Genworth Financial, Inc. (NYSE: GNW) is a leading public Fortune 500 global financial security company. Genworth has $114 billion in assets and employs approximately 7,000 people in 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of over 15 million customers. Genworth operates through three segments: Retirementand Protection, International and U.S. Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces itsroots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit
www.genworth.com
.