Amalgamated Life Insurance Company Moves to New Corporate Headquarters in White Plains, New York

New York, N.Y. September 24, 2008 — David J. Walsh, President and CEO of Amalgamated Life Insurance Company, today announced the signing of a long term lease with Cohen Brothers Realty Corporation for 132,000 square feet in the former General Foods headquarters at 333 Westchester Avenue, White Plains, NY.

Amalgamated Life, now in its 65th year, will move more than 400 jobs from the Company’s Manhattan office to its new White Plains headquarters.  The move signifies the consolidation and reintegration of several of the Company’s divisions, coincidental with the naming of new members to the leadership team.  The Company will occupy the space most recently held by Argent Mortgage Company, Inc.

According to Mr. Walsh, the move to White Plains was encouraged by the Westchester County Industrial Development Agency which offered financial incentives to the Company.  This will prove beneficial to policy holders and will ensure the Company’s ability to grow while sustaining it’s “A” rating (A.M. Best Company) and while providing optimum amenities for its staff.  The Company will receive $480,000 in sales tax exemptions to help renovate and equip the class A space.

Mr. Walsh further stated, “The success of our brands lies more and more in our delivery of service to policy holders.  We look to expand without compromise to our longstanding high standards.  We will refine and upgrade our services facilitated by a new state-of-the-art headquarters in White Plains, NY.  We plan to enhance our delivery package and our offerings over the coming years as we continue to service our valued clients and policy holders and add to our customer base.

About the company:  Amalgamated Life Insurance, America’s Labor Insurance Company®, was founded in 1943, to protect the financial well being of working men and women.  The Company has received an “A” (Excellent) rating from A.M. Best Company for 33 consecutive years.

Amalgamated Life and its affiliates are full-service providers of insured and self-insured employee benefit plans with over $800 million in annual premium, premium equivalencies and fee-for-service revenues.

For more information about Amalgamated Life Insurance Company, contact Kay Spalding at 212-539-5826 or [email protected]