Participation Agreement



                                      Among



                       Liberty Variable Investment Trust,



                        Columbia Funds Distributor, Inc.





                                       and



                 New York Life Insurance and Annuity Corporation





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                                TABLE OF CONTENTS

                                -----------------





                                                                            Page



ARTICLE I.                      Trust Shares                                  2



ARTICLE II.                     Representations and Warranties                5



ARTICLE III.                    Prospectuses, Reports to Shareholders         9

                                and Proxy Statements; Voting



ARTICLE IV.                     Sales Material and Information               11



ARTICLE V.                      Expenses                                     12



ARTICLE VI.                     Potential Conflicts                          12



ARTICLE VII.                    Indemnification                              15



ARTICLE VIII.                   Applicable Law                               21



ARTICLE IX.                     Termination                                  21



ARTICLE X.                      Notices                                      24



ARTICLE XI.                     Miscellaneous                                24



SCHEDULE A                      Separate Accounts and Contracts              28



SCHEDULE B                      Participating Funds                          29



SCHEDULE C                      Cost Allocation                              30



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                             PARTICIPATION AGREEMENT





     THIS PARTICIPATION AGREEMENT ("Agreement"), made as of this ____ day of

October, 2004 by and among New York Life Insurance and Annuity Corporation (the

"Company"), a life insurance company organized under the laws of the State of

Delaware, on its behalf and on behalf of each segregated asset account set forth

on Schedule A attached hereto as it may be amended from time to time by mutual

written agreement of the Parties hereto (the "Separate Accounts"); Liberty

Variable Investment Trust, a business trust organized under the laws of

Massachusetts (the "Trust"), on behalf of each series, individually and not

jointly, set forth on Schedule B attached hereto as may be amended from time to

time by mutual written agreement of the Parties hereto (each a "Fund" and

collectively, the "Funds"); and Columbia Funds Distributor, Inc., a

Massachusetts corporation (the "Distributor") (each a "Party," and collectively,

the "Parties").



     WHEREAS, the Trust engages in business as an open-end management investment

company, is registered with the Securities and Exchange Commission (the "SEC")

under the Investment Company Act of 1940, as amended (the "1940 Act"), and is

available to act as the investment vehicle for separate accounts established by

insurance companies for life insurance policies and annuity contracts; and



     WHEREAS, the Trust intends to make available shares of the Funds to the

Separate Accounts of the Company; and



     WHEREAS, the shares of the Trust are divided into several Funds, and each

Fund represents the interest in a particular managed portfolio of securities and

other assets; and



     WHEREAS, the shares of the Fund are registered under the Securities Act of

1933, as amended (the "1933 Act") to the extent required thereby; and



     WHEREAS, the Distributor is registered as a broker/dealer under the

Securities Exchange Act of 1934, as amended (the "1934 Act"), is a member in

good standing of the National Association of Securities Dealers, Inc. (the

"NASD") and serves as principal underwriter of the shares of the Funds; and



     WHEREAS, the Company is an insurance company which has established or will

establish one or more Separate Accounts to offer variable annuities and/or

variable life insurance policies listed in Schedule A attached hereto as the

Parties may amend from time to time by mutual written agreement (the

"Contracts") issued by the Company and, to the extent permitted by applicable

insurance laws and regulations, the Company intends to purchase, on behalf of

the Separate Accounts, shares of the Trust to fund certain Contracts, and the

Trust is authorized to sell such shares at net asset value. Persons that are

parties to a Contract with Company (or other persons who may exercise rights

under the Contracts) are Contract owners ("Contract Owners"); and



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     WHEREAS, the Trust has obtained an order from the SEC, dated July `, 1988,

(File No.812-7044), granting participating insurance companies and variable

annuity and variable life insurance separate accounts exemptions from the

provisions of sections 9(a), 13(a), 15(a) and 15(b) of the 1940 Act, and Rules

6e-2(b)(15) and 6e-3(T)(b)(15) thereunder, to the extent necessary to permit

shares of the Funds to be sold to and held by variable annuity and variable life

insurance separate accounts of both affiliated and unaffiliated life insurance

companies (hereinafter the "Shared Funding Order").



     NOW, THEREFORE, in consideration of their mutual promises, Company, the

Trust and the Distributor agree as follows:





                             ARTICLE I. TRUST SHARES



     Section 1.1. Subject to Article IX and the terms set forth in the Trust's

registration statement, as may be amended from time to time, the Trust agrees to

make shares of the Funds available for purchase by the Company and the Separate

Accounts indefinitely, and the Distributor agrees to sell such shares to the

Company and the Separate Accounts to the extent made available by the Trust, at

the applicable net asset value per share ("NAV") on each Business Day pursuant

to the rules of the SEC. The Trust will execute purchase orders placed for each

Separate Account on a daily basis at the NAV of each Fund computed after receipt

by the Trust or its designee of such order. At Company's request, the Trust

agrees to redeem for cash any full or fractional shares of the Fund held by the

Company and Separate Accounts, on a daily basis at the NAV computed after

receipt by the Trust or its designee of the request for redemption.



     However, if one or more Funds has determined to settle redemption

transactions for all of its shareholders on a delayed basis (more than one

Business Day, but in no event more than five Business Days, after the date on

which the redemption order is received, and consistent with Section 22(e) of the

1940 Act and any rules or orders of the SEC thereunder), the Trust shall be

permitted to delay sending redemption proceeds to Company by the same number of

days that the Trust is delaying sending redemption proceeds to the other

shareholders of the Funds; provided that in no event may any delay by the Trust

in paying redemption proceeds cause the Company or Separate Accounts to fail to

meet its obligations under Section 22(e) of the 1940 Act, or require the Company

to pay redemption proceeds out of its general account.



     For purposes of this Section 1.1, Company shall be the agent of the

Distributor for receipt of purchase orders and redemption requests from each

Separate Account and receipt by Company by the earlier of 4:00 p.m. (Eastern

time) or the close of regular trading on the New York Stock Exchange (or such

other time that the Trust determines the NAV as set forth in the prospectuses

for the Funds) constitutes receipt by the Trust on that day, provided the Trust

or the Trust's agent receives notice of net purchase orders or net redemption

requests by 10:00 a.m. (Eastern time) on the next following Business Day or such

later time as permitted by this Section 1.1. Upon the request of the Trust,

Company shall provide to the Trust, copies of records of purchase orders



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and redemption requests placed with Company, including records indicating the

time at which such orders or requests were received by Company.



     Company will place net orders to purchase or redeem shares of each Fund.

Each order shall describe the net amount of shares and dollar amount of each

Fund to be purchased or redeemed. In the event of net purchases, Company will

pay for shares before 3:00 p.m. (Eastern time) on the same day it places the

order to purchase shares with the Fund as set forth in this Section 1.1. Payment

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