FOR IMMEDIATE NEWS RELEASE

NEWS RELEASE # 101

FROM: CLERK OF SUPREME COURT OF LOUISIANA

On the 7th day of December, 1998 , the following action was taken by the Supreme Court of Louisiana in the case(s) listed below:

BY JOHNSON, J. :

98-C - 0551 MAJOR BANKS, CHRISTOPHER EDWARDS, ET AL v. THE NEW YORK LIFE INSURANCE CO., ET AL (Parish of Pointe Coupee)

The action of the Court of Appeal, First Circuit, is hereby reversed. The judgment of the Eighteenth Judicial District Court, certifying the class, is hereby reinstated. We remand this case to the trial court for further proceedings.

REVERSED and REMANDED.

KIMBALL, J. - not on panel; recused. See Rule IV, Part 2, §3.

VICTORY, J. - recused. Judge Marc T. Amy, Court of Appeal, Third Circuit, sitting by assignment in place of Justice Jeffrey P. Victory.

MARCUS, J. - dissents and assigns reasons.

LEMMON, J. - subscribes to the opinion and assigns additional reasons.

TRAYLOR, J. - dissents for reasons assigned by Marcus, J.

KNOLL, J. - dissents for reasons assigned by Justice Marcus.