485BPOS 1 final.htm REGISTRATION STATEMENT LPP NY Emp Traditions -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
As filed with the Securities and Exchange    Registration No. 333-85618 
Commission on December 12, 2007    Registration No. 811-07935 

UNITED STATES         
SECURITIES AND EXCHANGE COMMISSION     
WASHINGTON, D.C. 20549         
 
FORM N-4         
 
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933         
                     Pre-Effective Amendment No.    [    ] 
                     Post-Effective Amendment No. 27    [ X ] 
and/or         
 
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 
                     Amendment No.    [ X ] 

SEPARATE ACCOUNT NY-B
(Exact Name of Registrant)
 
RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK 
(Name of Depositor)
1000 Woodbury Road, Suite 208
Woodbury, NY 11797
(800) 963-9539
(Address and Telephone Number of Depositor’s Principal Offices) 
 
John S. (Scott) Kreighbaum, Esq.
ReliaStar Life Insurance Company of New York
1475 Dunwoody Drive
West Chester, PA 19380
(610) 425-3404
(Name and Address of Agent for Service of Process)

Approximate Date of Proposed Public Offering: 
As soon as practical after the effective date of the Registration Statement 
 
It is proposed that this filing will become effective (check appropriate box): 
 [    ]    immediately upon filing pursuant to paragraph (b) of Rule 485 
 [    X     ]    on December 31, 2007 pursuant to paragraph (b) of Rule 485 
 [    ]    60 days after filing pursuant to paragraph (a)(1) of Rule 485 
 [    ]    on (date) pursuant to paragraph (a)(1) of Rule 485 
 
If appropriate, check the following box: 
 [    X    ]    this post-effective amendment designates a new effective date for a 
        previously 
        filed post-effective amendment. 
 
Title of Securities Being Registered: 
Deferred Combination Variable and Fixed Annuity Contracts 

 

Part A of this Post-Effective Amendment No. 27 incorporates Part A of Post-Effective Amendment No. 23 to
the Registration Statement on Form N-4 (File No. 333-85618), as filed on August 28, 2007 (Accession No.
0000836687-07-000313). This amendment further supplements the prospectus (and updates the Depositor’s
financial statements in Part B) and does not otherwise delete, amend or supersede any other information in
this registration statement, as previously amended, including exhibits and undertakings.

 




SUPPLEMENT Dated December 31, 2007 
To The Prospectuses Dated September 4, 2007 For: 
 
ING Empire Traditions Variable Annuity Contracts Issued By 
ReliaStar Life Insurance Company of New York

This supplement updates the prospectus. Please read it carefully and keep it with your copy of 
the prospectus for future reference. If you have any questions, please call our Customer Service 
Center at 1-800-366-0066. 

Beginning on and after January 28, 2008, the ING LifePay Plus and Joint LifePay Plus
Minimum Guaranteed Withdrawal Benefit (MGWB) riders are available in place of our
ING LifePay and Joint LifePay Minimum Guaranteed Withdrawal Benefit riders (subject to
broker/dealer availability).

You may want to purchase ING LifePay Plus or ING Joint LifePay Plus if you are concerned
about outliving your income and want a guaranteed income stream without having to annuitize
the Contract. If you already own a Contract with an ING LifePay or Joint LifePay rider, you
may have an opportunity to replace that rider with the ING LifePay Plus or Joint LifePay Plus
rider. Besides guaranteed lifetime withdrawals (beginning after age 59 ½ for LifePay Plus and
age 65 for Joint Life Pay Plus), these riders allow for withdrawals at any time, and have
automatic quarterly resets (to lock in any positive investment return). Please contact us for more
information about eligibility.

1.    Under the “FEES AND EXPENSES” section on page 2, replace the “Optional Living 
    Benefit Rider Charges” tables with: 

Optional Living Benefit Rider Charges1

Minimum Guaranteed Accumulation Benefit “MGAB” rider: 
 
       Maximum Annual Charge    Current Annual Charge 
    (Charge Deducted Quarterly) 
       1.00% of the MGAB Charge Base2    0.65% of the MGAB Charge Base2 
 
Minimum Guaranteed Income Benefit “MGIB” rider: 
 
       Maximum Annual Charge    Current Annual Charge 
       1.50% of the MGIB Benefit Base3    0.75% of the MGIB Benefit Base3 

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ING LifePay Plus Minimum Guaranteed Withdrawal Benefit rider: 
 
       Maximum Annual Charge     Current Annual Charge 
           (Charge Deducted Quarterly) 
       2.00% of the ING LifePay Plus Base4    0.60% of the ING LifePay Plus Base4 
 
ING Joint LifePay Plus Minimum Guaranteed Withdrawal Benefit rider: 
 
       Maximum Annual Charge     Current Annual Charge 
           (Charge Deducted Quarterly) 
       2.50% of the ING Joint LifePay Plus Base5    0.80% of the ING Joint LifePay Plus Base5 
 
ING LifePay Minimum Guaranteed Withdrawal Benefit rider:6 
 
       Maximum Annual Charge if Reset    Current Annual Charge 
       Benefit Elected7    (Charge Deducted Quarterly) 
       1.20% of the contract value    0.50% of the contract value 
 
ING Joint LifePay Minimum Guaranteed Withdrawal Benefit rider:8 
 
       Maximum Annual Charge if Reset    Current Annual Charge 
       Benefit Elected9    (Charge Deducted Quarterly) 
       1.50% of the contract value    0.75% of the contract value 

1 Optional rider charges are expressed as a percentage , rounded to the nearest 
         hundredth of one percent. The basis for an optional rider charge may be a charge base, benefit 
         base or contract value, as applicable. Optional rider charges are deducted from the contract value in your 
         subaccount allocations. You may add only one optional rider to your Contract. 
2 The MGAB Charge Base is calculated based on total premiums and any premium credits, if applicable, 
         within a two-year period from the rider date. Please see “Charges and Fees – Optional Rider Charges – 
         Minimum Guaranteed Accumulation Benefit (“MGAB”)” and “Living Benefit Riders – Minimum 
         Guaranteed Accumulation Benefit Rider (“MGAB”)” later in this prospectus for more information. 
3 The MGIB Benefit Base is equal to the greater of the MGIB Rollup Base and the MGIB Ratchet Base and 
         is calculated based on eligible premiums and premium credits, if applicable. Please see “Charges and Fees 
         – Optional Riders – Minimum Guaranteed Income Benefit (MGIB)” and “The Annuity Contract – Optional 
         Riders – Minimum Guaranteed Income Benefit Rider (MGIB)” later in this prospectus for more 
         information. 
4  
         The ING LifePay Plus Base is calculated based on premium  
         , excluding any premium credits, if this rider is 
         elected at contract issue . The ING LifePay Plus Base is calculated 
         based on contract value, excluding any premium credits applied during the preceding 36 months, if this 
         rider is added after contract issue. The current annual charge can change upon a reset after your first five 
         contract years. But you will never pay more than new issues of this rider, subject to the maximum annual 
         charge. Please see “Charges and Fees – Optional Rider Charges – ING LifePay Plus Minimum Guaranteed 
         Withdrawal Benefit (ING LifePay Plus)” and “Living Benefit Riders – ING LifePay Plus Minimum 
         Guaranteed Withdrawal Benefit (ING LifePay Plus) Rider” later in this prospectus. 
5  
         The ING Joint LifePay Plus Base is calculated based on premium 
         , excluding any premium credits, if this rider 
         is elected at contract issue . The ING Joint LifePay Plus Base is 
         calculated based on contract value, excluding any premium credits applied during the preceding 36 months, 
         if this rider is added after contract issue. The current annual charge can change upon a reset after your first 
         five contract years. But you will never pay more than new issues of this rider, subject to the maximum 
         annual charge. Please see “Charges and Fees – Optional Rider Charges – ING Joint LifePay Plus Minimum 
         Guaranteed Withdrawal Benefit (ING Joint LifePay Plus)” and “Living Benefit Riders – ING Joint LifePay 
         Plus Minimum Guaranteed Withdrawal Benefit (ING Joint LifePay Plus) Rider” later in this prospectus. 

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6 Effective January 28, 2008, this rider is no longer available for sale.  
          
7 We may increase the charge for this rider if you elect the reset option after your first five contract years, but 
         subject to the maximum annual charge. Please see “Charges and Fees – Optional Rider Charges – ING 
         LifePay Minimum Guaranteed Withdrawal Benefit (ING LifePay)” and “Living Benefit Riders – ING 
         LifePay Minimum Guaranteed Withdrawal Benefit (ING LifePay) Rider” later in this prospectus. 
8 Effective January 28, 2008, this rider is no longer available for sale.  
          
9 We may increase the charge for this rider if you elect the reset option after your first five contract years, but 
         subject to the maximum annual charge. Please see “Charges and Fees – Optional Rider Charges – ING 
         Joint LifePay Minimum Guaranteed Withdrawal Benefit (ING Joint LifePay)” and “Living Benefit Riders – 
         ING Joint LifePay Minimum Guaranteed Withdrawal Benefit (ING Joint LifePay) Rider” later in this 
         prospectus. 

2. Also under the “FEES AND EXPENSES” section on page 3, replace the Separate
Account Annual Charges Tables and the introductory paragraph that precedes them with:

The next two tables show the total annual charges you could pay based on the amounts you have invested in
the subaccounts (unless otherwise indicated), for the Contract and each death benefit and the most expensive
combination of riders possible. Maximum and current charges are shown, but not the Annual Contract
Administrative Charge. Also, these tables do not show the Trust or Fund Expenses. Please note that the bases for
some charges may differ somewhat. For example, the charge for the ING Joint LifePay Plus rider is based
on the ING Joint LifePay Plus Base, which can be higher than contract value, leading to higher charges than would
be the case if it were based on contract value. Nevertheless, for purposes of these tables, we have assumed that the
value of the amounts invested in the subaccounts and the ING Joint LifePay Plus Base are both the same as the
contract value. The charge for the Premium Credit Option lasts for your first seven contract years following the
credit.

Separate Account Annual Charge Tables

MAXIMUM CHARGES    Option    Option    Option 
    Package I    Package II    Package III 
 Mortality & Expense Risk Charge    1.10%    1.30%    1.45% 
 Asset-Based Administrative Charge    0.15%    0.15%    0.15% 
 Premium Credit Option Charge    0.50%    0.50%    0.50% 
 Maximum ING Joint LifePay MGWB Rider             
       Charge (as percentage of the ING Joint             
       LifePay Plus Base)    2.50%    2.50%    2.50% 
 Total    4.25%    4.45%    4.60% 
 
 
CURRENT CHARGES    Option    Option    Option 
    Package I    Package II    Package III 
 Mortality & Expense Risk Charge    1.10%    1.30%    1.45% 
 Asset-Based Administrative Charge    0.15%    0.15%    0.15% 
 Premium Credit Option Charge    0.50%    0.50%    0.50% 
 Current ING Joint LifePay MGWB Rider             
         Charge (as percentage of the ING Joint             
         LifePay Plus Base)    0.80%    0.80%    0.80% 
Total    2.55%    2.75%    2.90% 

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3. Also under the “FEES AND EXPENSES” section on page 4, replace the Example with:

Example
This example is intended to help you compare the cost of investing in the Contract with the cost of investing in other
variable annuity contracts. The example assumes that you invest $10,000 in the Contract for the time periods
indicated. The costs reflected are the maximum charges for the Contract with the most expensive death benefit
option and the most expensive living benefit rider. The example also assumes that your investment has a 5% return
each year and assumes the maximum Trust or Fund Expenses. Excluded are the premium credit option and its
charge, premium taxes and any transfer charges.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

1) If you surrender or annuitize* your contract at the end of the applicable time period: 
1 year    3 years    5 years    10 years 
$995    $1,812    $2,568    $4,394 
2) If you do not surrender your contract:         
1 year    3 years    5 years    10 years 
$395    $1,212    $2,068    $4,394 

* Surrender charges may apply if you choose to annuitize your Contract within the first year, and
under certain circumstances, within the first seven contract years.

Compensation is paid for the sale of the Contracts. For information about this compensation, see “Selling the
Contract.”

4. Under the “CHARGES AND FEES” section on page 13, in between the paragraphs about
the charge for the Minimum Guaranteed Income Benefit (MGIB) and the ING LifePay
Minimum Guaranteed Withdrawal Benefit (ING LifePay), add:

ING LifePay Plus Minimum Guaranteed Withdrawal Benefit (ING LifePay Plus) Rider Charge. The
charge for the ING LifePay Plus rider, a living benefit, is deducted quarterly from your contract value:

Maximum Annual Charge    Current Annual Charge 
2.00%    0.60% 

This quarterly charge is a percentage of the ING LifePay Plus Base. We deduct the charge in arrears based on the
contract date (contract year versus calendar year). In arrears means the first charge is deducted at the end of the first
quarter following the rider effective date. If the rider is elected at contract issue, the rider effective
date is the same as the contract date. If the rider is added after contract issue, the rider effective date will be
the date of the Contract’s next following quarterly contract anniversary. The charge will be
pro-rated when the rider is terminated. Charges will also be pro-rated when your rider
enters either the Automatic Periodic Benefit Status or Lifetime Automatic Periodic Benefit Status. (No charge is
deducted thereafter.) Automatic Periodic Benefit Status or Lifetime Automatic Periodic Benefit Status occurs if
your contract value is reduced to zero and other conditions are met. The current charge can change upon a reset
after your first five contract years. You will never pay more than new issues of this rider, subject to the maximum
annual charge. For more information about how this rider works, including when Lifetime Automatic Periodic
Benefit Status begins, please see “Living Benefit Riders – ING LifePay Plus/Joint LifePay Plus Minimum
Guaranteed Withdrawal Benefit Riders.”

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ING Joint LifePay Plus Minimum Guaranteed Withdrawal Benefit (ING Joint LifePay Plus) Rider
Charge. The charge for the ING Joint LifePay Plus rider, a living benefit, is deducted quarterly from your contract
value:

Maximum Annual Charge    Current Annual Charge 
2.50%    0.80% 

This quarterly charge is a percentage of the ING Joint LifePay Plus Base. We deduct the charge in arrears based on
the contract date (contract year versus calendar year). In arrears means the first charge is deducted at the end of the
first quarter following the rider effective date. If the rider is elected at contract issue, the rider
effective date is the same as the contract date. If the rider is added after contract issue, the rider effective date will
be the date of the Contract’s next following quarterly contract anniversary. The charge
will be pro-rated when the rider is terminated. Charges will also be pro-rated when
your rider enters either the Automatic Periodic Benefit Status or Lifetime Automatic Periodic Benefit Status. (No
charge is deducted thereafter.) Automatic Periodic Benefit Status or Lifetime Automatic Periodic Benefit Status
occurs if your contract value is reduced to zero and other conditions are met. The current charge can be subject to
change upon a reset after your first five contract years. You will never pay more than new issues of this rider,
subject to the maximum annual charge. For more information about how this rider works, including when Lifetime
Automatic Periodic Benefit Status begins, please see “Living Benefit Riders - ING Joint LifePay Plus Minimum
Guaranteed Withdrawal Benefit Rider.”

5. Under the “LIVING BENEFIT RIDERS” section on page 33, before the paragraphs
about the ING LifePay Minimum Guaranteed Withdrawal Benefit (ING LifePay) Rider,
add:

ING LifePay Plus Minimum Guaranteed Withdrawal Benefit (“ING LifePay Plus”) Rider. The ING LifePay
Plus rider generally provides, subject to the restrictions and limitations below, that we will guarantee a minimum
level of annual withdrawals from the Contract for the lifetime of the annuitant, even if these withdrawals deplete
your Contract value to zero. You may wish to purchase this rider if you are concerned that you may outlive your
income.

Purchase. Beginning on and after January 28, 2008, you may elect to purchase the ING LifePay
Plus rider. The annuitant must be the owner or one of the owners, unless the owner is a non-natural owner. Joint
annuitants are not allowed. The maximum issue age is 80. The issue age is the age of the owner (or the annuitant if
there are joint owners or the owner is non-natural) on the Contract anniversary on which the rider is effective.
The ING LifePay Plus rider is
subject to
broker/dealer availability. The ING LifePay Plus rider will not be issued until your contract value is allocated
in accordance with the investment option restrictions described in
“Investment Option Restrictions,” below. Please note that with the ING LifePay Plus rider, you cannot
allocate contract value to a Fixed Interest Division at any time
.

Contracts issued on and after November 1, 2004 are eligible for the ING LifePay Plus rider, subject to the
conditions, requirements and limitations of the prior paragraph.




Such Contracts must not already have a living benefit rider. Or if your Contract
meets the above eligibility date and has the ING LifePay rider, you may upgrade to the ING LifePay Plus rider for a
limited time. There is an election form for this purpose. Please contact the Customer Service Center for more
information.

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  Rider Date. The rider date is the date the ING LifePay Plus rider becomes effective. If you purchase the ING
LifePay Plus rider when the Contract is issued, the rider effective date is also the Contract date. If the rider is
added after contract issue, the rider effective date will be the date of the Contract’s next following quarterly
contract anniversary.

No Cancellation. Once you purchase the ING LifePay Plus rider, you many not cancel it unless you: a) cancel
the Contract during the Contract’s free look period; b) surrender the Contract; c) begin the income phase and
start receiving annuity payments; or d) otherwise terminate the Contract pursuant to its terms. These events
automatically cancel the ING LifePay Plus rider.

Termination. The ING LifePay Plus rider is a “living benefit,” which means the guaranteed benefits offered
are intended to be available to you while you are living and while your Contract is in the accumulation phase.
The optional rider automatically terminates if you:

  1) terminate your Contract pursuant to its terms during the accumulation phase, surrender your Contract,
or begin receiving income phase payments in lieu of payments under the ING LifePay Plus rider; or

2) die during the accumulation phase (first owner to die if there are multiple Contract owners, or death
of annuitant if Contract owner is not a natural person), unless your spouse beneficiary elects to
continue the Contract.

The ING LifePay Plus rider will also terminate if there is a change in Contract ownership (other than a spousal
beneficiary continuation on your death). Other circumstances that may cause the ING LifePay Plus rider to
terminate automatically are discussed below.

How the ING LifePay Plus Rider Works. The ING LifePay Plus rider has both phases and statuses. Through
the lifetime of the ING LifePay Plus rider, you will be in one of two phases: the Growth Phase or the Withdrawal
Phase. As detailed below, the Growth Phase begins on the effective date of the rider and ends as of the business day
before you take your first withdrawal, or on your Contract’s annuity
start date. See “The
Income Phase – Restrictions on Start Dates and the Duration of Payments.” During the Growth Phase, no benefits
under the ING LifePay Plus rider are being paid out; rather, during the Growth Phase, premiums and investment
growth under your contract continue to accumulate. The Withdrawal Phase follows the Growth Phase and begins
once you take your first withdrawal or annuity payment, whichever occurs first. During the Withdrawal Phase, you
may withdraw guaranteed amounts from your Contract, subject to the terms and conditions noted in this section.

During the Withdrawal Phase, this rider has four different statuses that come in a pair to fulfill your withdrawal
guarantee: Guaranteed Withdrawal Status and Automatic Periodic Benefit Status; and Lifetime Guaranteed
Withdrawal Status and Lifetime Automatic Periodic Benefit Status. Together, these status pairs operate to fulfill the
rider’s withdrawal guarantee and depend on how old your annuitant is when you take your first withdrawal.

Guaranteed Withdrawal Status begins on the date of the first withdrawal, ONLY IF the quarterly contract
anniversary following the annuitant reaching age 59 ½ has not yet passed, and continues until certain circumstances
occur as noted in “Guaranteed Withdrawal Status” below. Thereafter, Automatic Periodic Benefit Status
would begin ONLYIF your contract value is depleted to zero for reasons other than withdrawals that
exceed the Maximum Annual Withdrawal, as discussed more thoroughly below. In Automatic Periodic Benefit
Status, you are no longer entitled to make withdrawals. Instead, under the ING LifePay Plus rider, you will begin to
receive periodic payments in an annual amount equal to the Maximum Annual Withdrawal until the
MGWB Base is exhausted. Alternatively, in the event your contract value is depleted
because of withdrawals that exceed the Maximum Annual Withdrawal, then Automatic Periodic Benefit Status
would not begin. Rather, the Contract and the ING LifePay Plus rider will terminate without value. While the
Withdrawal Phase of your rider may begin in Guaranteed Withdrawal Status, your rider may not enter Automatic
Periodic Benefit Status

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Lifetime Guaranteed Withdrawal Status begins on the date of the first withdrawal, provided the quarterly contract
anniversary following the annuitant’s age 59 ½ has passed, and continues until certain circumstances occur as noted
in the “Lifetime Guaranteed Withdrawal Status” below. Thereafter, Lifetime Automatic Periodic Benefit Status
would begin ONLYIF you contract value is depleted to zero for reasons other than withdrawals
that exceed the Maximum Annual Withdrawal, as discussed more thoroughly below. In Lifetime Automatic
Periodic Benefit Status, you are no longer entitled to make withdrawals. Instead, under the ING LifePay Plus rider,
you will begin to receive periodic payments in an amount equal to the Maximum Annual Withdrawal.
Alternatively, in the event your contract value is depleted because of withdrawals that exceed the Maximum Annual
Withdrawal, then Lifetime Automatic Periodic Benefit Status would not begin. Rather, the Contract and the ING
LifePay Plus rider will terminate without value.


Benefits paid under the ING LifePay Plus rider require the calculation of the Maximum Annual Withdrawal. The
ING LifePay Plus Base (referred to as the “MGWB Base” in the Contract) is used to determine the Maximum
Annual Withdrawal and is calculated as follows:

  1) If you purchased the ING LifePay Plus rider on the Contract date, the initial ING LifePay Plus Base is
equal to the initial premium (excluding any credit on the premium, or premium credit, available with
your Contract).

2) If you purchased the ING LifePay Plus rider after the Contract date, the initial ING LifePay Plus Base is
equal to the Contract value on the effective date of the rider (excluding any premium credits applied
during the preceding 36 months).

During the Growth Phase, the initial ING LifePay Plus Base is increased dollar-for-dollar by any premiums
received, excluding any credits on premiums, or premium credits, applied to your Contract during the preceding 36
months (“eligible premiums”). In addition, on each quarterly contract anniversary, the ING LifePay Plus Base is
recalculated as the greater of:

  · The current ING LifePay Plus Base; or
· The current Contract value (excluding any premium credits applied during the 36 months preceding the
calculation). This is referred to as a quarterly “ratchet.”

Also, on each of the first ten contract anniversaries ONLY after the Annuitant has reached age 59 ½, the ING
LifePay Plus Base is recalculated as the greatest of:

  · The current ING LifePay Plus Base; or
· The current Contract value (excluding any premium credits applied during the 36 months preceding the
calculation); and
· The ING LifePay Plus Base on the previous contract anniversary, increased by 7%, plus any eligible
premiums and minus any third-party investment advisory fees paid from your contract during the year.
This is referred to as an annual “step-up.” (Any premium credits applied during the preceding 36 months
are excluded from the eligible premiums with a step-up.)

Please note that there are no partial step-ups. Step-ups are not pro-rated. So for existing Contracts to which this
rider is attached (a post Contract issuance election), the first
opportunity for a step-up will not be until the first contract anniversary after a full contract
year has elapsed since the rider effective date, SO LONG AS the Annuitant is at least age 59 ½
.

Say for example that with a Contract purchased on January 1, 2007, the contract owner decides to add LifePay Plus
on March 15, 2007. The rider effective date is April 1, 2007, which is the date of the Contract’s next following
quarterly contract anniversary. Because on January 1, 2008 a full contract year will not have elapsed since the rider
effective date, the ING LifePay Plus Base will not be eligible for a step-up. Rather, the first opportunity for a step-
up with this Contract is on January 1, 2009, assuming the Annuitant is age 59 ½.

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This rider has no cash value. You cannot surrender the Contract for the ING LifePay Plus Base. The ING
LifePay Plus Base is not available to annuitize.

Currently, any additional premiums paid during the Withdrawal Phase are not eligible premiums for purposes of
determining the ING LifePay Plus Base or the Maximum Annual Withdrawal; however, we reserve the right to treat
such premiums as eligible premiums at our discretion, in a nondiscriminatory manner. Premiums received during
the Withdrawal Phase do increase the Contract value used to determine the reset Maximum Annual Withdrawal
under the benefit reset feature of the ING LifePay Plus rider (see “ING LifePay Plus Reset,” below). We reserve the
right to discontinue allowing premium payments during the Withdrawal Phase.

Guaranteed Withdrawal Status. This status begins on the date of the first withdrawal, ONLY IF the quarterly
contract anniversary has not passed on which or after the annuitant is age 59 ½
. This status will then continue until the earliest of:

1)    quarterly contract anniversary following the annuitant reaching age 59 ½, provided the contract owner 
    does not decline the change to Lifetime Guaranteed Withdrawal Status; 
2)    reduction of the ING LifePay Plus Base to zero, at which time the rider will terminate; 
3)    the date annuity payments begin (see “The Income Phase”); 
4)    reduction of the Contract value to zero by a withdrawal in excess of the Maximum Annual 
    Withdrawal; 
5)    reduction of the Contract value to zero by a withdrawal less than or equal to the Maximum Annual 
    Withdrawal (see “Automatic Periodic Benefit Status,” below); 
6)    the surrender of the Contract; 
7)    the death of the owner (first owner, in the case of joint owners; annuitant, in the case of a non-natural 
    owner), unless your spouse beneficiary elects to continue the Contract; or 
8)    automatic reset into the Lifetime Guaranteed Withdrawal Status. 

You will receive prior notice, of not less than 30 days, if you are in the Guaranteed Withdrawal Status and become
eligible for the Lifetime Guaranteed Withdrawal Status. This notice will explain the change, its impact to you and
your options. You may decline this change.




Please note that with the automatic reset into the Lifetime Guaranteed Withdrawal Status, it is possible that the
Maximum Annual Withdrawal, as recalculated, will be less, due to your withdrawals (and reduction of the ING
LifePay Plus Base as a result) while the rider was in the Guaranteed Withdrawal Status. See Appendix I, Illustration
6, for an example. Also please note, however, that by declining automatic reset into the Lifetime Guaranteed
Withdrawal Status, your ING LifePay Plus Base will not thereafter be automatically reset quarterly – to the then
current Contract value (excluding any premium credits applied during the 36 months preceding the calculation) if
the contract value is higher – as it could be while the rider is in Lifetime Guaranteed Withdrawal Status. No further
resets will be available. For more information, please see “ING LifePay Plus Reset” below.


If you decline the automatic reset, your rider will continue in the Guaranteed
Withdrawal Status. There will not be another opportunity to automatically reset into the Lifetime Guaranteed
Withdrawal Status. Thereafter, in the event contract value is reduced to zero for a reason other than a withdrawal in
excess of the Maximum Annual Withdrawal, including due to poor market performance, your rider’s status will

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change to Automatic Periodic Benefit Status. In Automatic Periodic Benefit Status, other than the payments as
provided under the ING LifePay Plus rider, the Contract will provide no further benefits (including death benefits).
In the event contract value is reduced to zero by a withdrawal in excess of the Maximum Annual
Withdrawal, the Contract and rider will terminate without value. For more information about the effect of a
withdrawal reducing the Contract value to zero, please see “Automatic Periodic Benefit Status” below.



Please see below for more information about each of this rider’s four different statuses.

Lifetime Guaranteed Withdrawal Status. This status begins on the date of your first withdrawal, SO LONG
AS the quarterly contract anniversary has passed on which or after the annuitant is age 59 ½
. Or for Contracts in Guaranteed Withdrawal Status,
the Lifetime Guaranteed Withdrawal Status begins upon automatic reset
. This status continues until the earliest of:

1)    the date annuity payments begin (see “The Income Phase”); 
2)    reduction of the Contract value to zero by a withdrawal in excess of the Maximum Annual 
    Withdrawal; 
3)    reduction of the Contract value to zero by a withdrawal less than or equal to the Maximum Annual 
    Withdrawal (see “Lifetime Automatic Periodic Benefit Status,” below); 
4)    the surrender of the Contract; or 
5)    the death of the owner (first owner, in the case of joint owners; annuitant, in the case of a non-natural 
    person owner), unless your spouse beneficiary elects to continue the Contract. 

The rider’s status changes to Lifetime Automatic Periodic Benefit Status in the event Contract value is reduced to
zero for a reason other than a withdrawal in excess of the Maximum Annual Withdrawal, including due to poor
market performance. In Lifetime Automatic Periodic Benefit Status, other than the payments as provided under the
ING LifePay Plus rider, the Contract will provide no further benefits (including death benefits). Otherwise, if
Contract value is reduced to zero by a withdrawal in excess of the Maximum Annual Withdrawal, the Contract and
rider will terminate without value. For more information about the effect of a withdrawal reducing the Contract
value to zero, please see “Lifetime Automatic Periodic Benefit Status” below. As described below, certain features
of the ING LifePay Plus rider may differ depending on whether you are in Lifetime Guaranteed Withdrawal Status.

  Determination of the Maximum Annual Withdrawal. The Maximum Annual Withdrawal is
determined on the date the Withdrawal Phase begins. It equals a percentage of the greater of 1) the Contract
value and 2) the ING LifePay Plus Base as of the last day of the Growth Phase. The first withdrawal after the
effective date of the rider (which causes the end of the Growth Phase) is treated as occurring on the first day
of the Withdrawal Phase, after calculation of the Maximum Annual Withdrawal. The Maximum Annual
Withdrawal percentage, which varies by age of the annuitant on the date the Withdrawal Phase begins, is as
follows:

    Maximum Annual 
Annuitant Age    Withdrawal Percentage 
0-75*    5%* 
76-80    6% 
81+    7% 

*If the Withdrawal Phase begins before the quarterly contract anniversary on or after the annuitant reaches
age 59-1/2, withdrawals in a contract year up to the Maximum Annual Withdrawal will reduce the ING

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  LifePay Plus Base dollar-for-dollar, under what the rider refers to as the “Standard Withdrawal Benefit.”
Then, on the quarterly contract anniversary on or after the annuitant reaches age 59 ½, the ING LifePay Plus
Base will automatically be reset to the current Contract value (excluding any premium credits applied during
the preceding 36 months), if greater, and the Maximum Annual Withdrawal will be recalculated.

Once determined, the Maximum Annual Withdrawal percentage never changes for the Contract, except as
provided for under spousal continuation. See “Continuation After Death – Spouse,” below. This is important
to keep in mind in deciding when to take your first withdrawal because the younger you are at that time, the
lower the Maximum Annual Withdrawal percentage.

If the Contract’s annuity commencement date is reached while you are in the ING LifePay Plus rider’s
Growth Phase, then you may elect a life only annuity option, in lieu of the Contract’s other annuity options,
under which we will pay the greater of the annuity payout under the Contract and equal annual payments of
the Maximum Annual Withdrawal.

Whether the Maximum Annual Withdrawal is subject to change depends on the extent of your withdrawals.
The amount of your withdrawal or withdrawals in any Contract year that, when added together, do not exceed
the Maximum Annual Withdrawal do not reduce the Maximum Annual Withdrawal. However, if the total
amount of your withdrawals in any Contract year exceeds the Maximum Annual Withdrawal, then the
Maximum Annual Withdrawal will be reduced in the same proportion as the contract value is reduced by the
amount of the excess withdrawal.

For this purpose, an excess withdrawal is the lesser of the amount by which your total withdrawals in a
Contract year exceed the Maximum Annual Withdrawal and the amount of your present request for a
withdrawal. The amount of any applicable premium credit deduction (recapture) or surrender charges are not
included in determining whether the total amount of your withdrawals in a Contract year exceeds the
Maximum Annual Withdrawal and triggers a pro-rata reduction. However, in the event that the Maximum
Annual Withdrawal is to be subject to a pro-rata reduction because of an excess withdrawal, the amount by
which the Maximum Annual Withdrawal will be reduced will include any premium credit deduction and
surrender charges. See Appendix I, Illustration 1 and 2 for examples of this concept.

Required Minimum Distributions. Withdrawals taken from the Contract to satisfy the Required
Minimum Distribution rules of the Tax Code are considered withdrawals for purposes of the ING LifePay
Plus rider and will begin the Withdrawal Phase if the Withdrawal Phase has not already started. Any such
withdrawal that exceed the Maximum Annual Withdrawal for a specific Contract year will not be deemed
excess withdrawals in that Contract year for purposes of the ING LifePay Plus rider, subject to the following
rules:

1)    If your Required Minimum Distribution for a calendar year (determined on a date on or before 
    January 31 of that year), applicable to this Contract, is greater than the Maximum Annual 
    Withdrawal on that date, an Additional Withdrawal Amount will be set equal to that portion of the 
    Required Minimum Distribution that exceeds the Maximum Annual Withdrawal. 
 
2)    Once you have taken the Maximum Annual Withdrawal for the then current Contract year, the dollar 
    amount of any additional withdrawals will count first against and reduce any unused Additional 
    Withdrawal Amount for the previous calendar year followed by any Additional Withdrawal Amount 
    for the current calendar year – without being deemed an excess withdrawal. 
 
3)    In the event of any withdrawals that exceed the Maximum Annual Withdrawal and all available 
    Additional Withdrawal Amounts, the dollar amount of these withdrawals will be deemed excess 
    withdrawals that cause the Maximum Annual Withdrawal to be reduced on a pro-rata basis, as 
    described above. 

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4)    The Additional Withdrawal Amount is available on a calendar year basis and recalculated every 
    January, reset to equal that portion of the Required Minimum Distribution for that calendar year that 
    exceeds the Maximum Annual Withdrawal on that date. Any unused amount of the Additional 
    Withdrawal Amount carries over into the next calendar year and is available through the end of that 
    year, atwhich time any amount remaining will expire. 
 
5)    The Additional Withdrawal Amount does not change in the event you choose to reset the Maximum 
    Annual Withdrawal Amount. See “ING LifePay Plus Reset Option” below. The Additional 
    Withdrawal Amount is only subject to change when the Additional Withdrawal Amount is reset as 
    described above. 

  See Appendix I, Illustrations 3 and 4.

  Investment Advisory Fees. Withdrawals taken pursuant to a program established by the owner for the
payment of investment advisory fees to a named third party investment adviser for advice on management of
the Contract’s values will not cause the Withdrawal Phase to begin. During the Growth Phase, such
withdrawals reduce the ING LifePay Plus Base on a dollar-for-dollar basis, and during the Withdrawal Phase,
these withdrawals are treated as any other withdrawal.

Automatic Periodic Benefit Status. If the Contract value is reduced to zero by a withdrawal in excess of
the Maximum Annual Withdrawal, the Contract and the rider will terminate without value due to the pro-rata
reduction described in “Determination of the Maximum Annual Withdrawal” above.

If the Contract value is reduced to zero for a reason other than a withdrawal in excess of the Maximum Annual
Withdrawal while the rider is in Guaranteed Withdrawal Status, the rider will enter Automatic Periodic Benefit
Status and you are no longer entitled to make withdrawals. Instead, under the ING LifePay Plus rider, you will
begin to receive periodic payments in an annual amount equal to the Maximum Annual Withdrawal, until the
remaining ING LifePay Plus Base is exhausted.

  When the rider enters Automatic Periodic Benefit Status:

1)    the Contract will provide no further 
    benefits (including death benefits) other than as provided under the ING LifePay Plus rider; 
2)    no further premium payments will be accepted; and 
3)    any other riders attached to the Contract will terminate, unless otherwise specified in that rider. 

  During Automatic Periodic Benefit Status, we will pay you periodic payments in an annual amount that is equal
to the Maximum Annual Withdrawal. These payments will continue until the ING LifePay Plus Base is
reduced to zero, at which time the rider will terminate without value.

If when the ING LifePay Plus rider enters Automatic Periodic Benefit Status your net withdrawals to date are
less than the Maximum Annual Withdrawal for that contract year, then we will pay you the difference
immediately. The periodic payments will begin on the last day of the first full Contract year following the date
the rider enters Automatic Periodic Benefit Status and will continue to be paid annually thereafter.

You may elect to receive systematic withdrawals pursuant to the terms of the Contract. Under a systematic
withdrawal, either a fixed amount or an amount based upon a percentage of the contract value will be
withdrawn from your contract and paid to you on a scheduled basis, either monthly, quarterly or annually. If, at
the time the rider enters Automatic Periodic Benefit Status, you are receiving systematic withdrawals under the
Contract more frequently than annually, the periodic payments will be made at the same frequency in equal
amounts such that the sum of the payments in each Contract year will equal the annual Maximum Annual
Withdrawal. Such payments will be made on the same payment dates as previously set up, if the payments
were being made monthly or quarterly. If the payments were being made semi-annually or annually, the
payments will be made at the end of the half-Contract year or Contract year, as applicable.

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  Lifetime Automatic Periodic Benefit Status. If the Contract value is reduced to zero by a withdrawal in
excess of the Maximum Annual Withdrawal, the Contract and the rider will terminate without value due to the
pro-rata reduction described in “Determination of the Maximum Annual Withdrawal” above.

If the Contract value is reduced to zero for a reason other than a withdrawal in excess of the Maximum Annual
Withdrawal while the rider is in Lifetime Guaranteed Withdrawal Status, the rider will enter Lifetime
Automatic Periodic Benefit Status and you are no longer entitled to make withdrawals. Instead, under the ING
LifePay Plus rider, you will begin to receive periodic payments in an annual amount equal to the Maximum
Annual Withdrawal.

When the rider enters Lifetime Automatic Periodic Benefit Status:

1)    the Contract will provide no further 
    benefits (including death benefits) other than as provided under the ING LifePay Plus rider; 
2)    no further premium payments will be accepted; and 
3)    any other riders attached to the Contract will terminate, unless otherwise specified in that rider. 

  During Lifetime Automatic Periodic Benefit Status, we will pay you periodic payments in an annual amount
that is equal to the Maximum Annual Withdrawal. These payments will cease upon the death of the annuitant at
which time both the rider and the Contract will terminate. The rider will remain in Lifetime Automatic Periodic
Benefit Status until it terminates without value upon the annuitant’s death.

If when the ING LifePay Plus rider enters Lifetime Automatic Periodic Benefit Status your net withdrawals to
date are less than the Maximum Annual Withdrawal for that contract year, then we will pay you the difference
immediately. The periodic payments will begin on the last day of the first full Contract year following the date
the rider enters Lifetime Automatic Periodic Benefit Status and will continue to be paid annually thereafter.

You may elect to receive systematic withdrawals pursuant to the terms of the Contract. Under a systematic
withdrawal, either a fixed amount or an amount based upon percentage of the contract value will be withdrawn
from your contract and paid to you on a scheduled basis, either monthly, quarterly or annually. If, at the time
the rider enters Lifetime Automatic Periodic Benefit Status, you are receiving systematic withdrawals under the
Contract more frequently than annually, the periodic payments will be made at the same frequency in equal
amounts such that the sum of the payments in each Contract year will equal the annual Maximum Annual
Withdrawal. Such payments will be made on the same payment dates as previously set up, if the payments
were being made monthly or quarterly. If the payments were being made semi-annually or annually, the
payments will be made at the end of the half-Contract year or Contract year, as applicable.

ING LifePay Plus Reset. Once the Lifetime Guaranteed Withdrawal Status begins and the Maximum
Annual Withdrawal has been determined, on each quarterly contract anniversary we will increase (or “reset”)
the ING LifePay Plus Base to the current Contract value (excluding any premium credits applied during the 36
months preceding the calculation), if the Contract value is higher. The Maximum Annual Withdrawal will also
be recalculated, and the remaining portion of the new Maximum Annual Withdrawal will be available for
withdrawal immediately. This reset ONLY occurs when the rider is in Lifetime Guaranteed Withdrawal Status,
and is automatic.

We reserve the right to change the charge for this rider with a reset. In this event, you will receive prior notice,
of not less than 30 days, which explains the change, its impact to you and your options. You may decline this
change (and the reset). Please note,
however, that by declining a reset, your ING LifePay Plus Base will not thereafter be reset quarterly (and the
Maximum Annual Withdrawal will also not be recalculated); no further resets will be available.

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Investment Option Restrictions. While the ING LifePay Plus rider is in effect, there are limits on the
portfolios to which your Contract value may be allocated. Contract value allocated to portfolios other than Accepted
Funds will be rebalanced so as to maintain at least 20% of such Contract value in the Fixed Allocation Funds. See
“Fixed Allocation Funds Automatic Rebalancing,” below. We have these restrictions to mitigate the insurance risk
inherent in our guarantees with this rider. We require this allocation regardless of your investment instructions to
the Contract. The timing of when and how we apply these restrictions is discussed further below.

Accepted Funds. Currently, Accepted Funds are: ING
Franklin Templeton Founding Strategy Portfolio; ING LifeStyle Moderate Portfolio; ING LifeStyle Moderate
Growth Portfolio; ING LifeStyle Growth Portfolio; ING MFS Total Return Portfolio; ING T. Rowe Price
Capital Appreciation Portfolio; ING Van Kampen Equity and Income Portfolio; ING WisdomTreeSM Global
High-Yielding Equity Index Portfolio; and ING Liquid Assets Portfolio. We may change
these designations at any time upon 30 days notice to you. If a change is made, the change will apply to
Contract value allocated to such portfolios after the date of the change.

Fixed Allocation Funds. The ING American Fund Bond Portfolio, the ING VP Intermediate Bond
Portfolio and the ING PIMCO Core Bond Portfolio are designated as the Fixed Allocation Funds. You may
allocate your contract value to one or both Fixed Allocation Funds. We consider the ING VP Intermediate
Bond Portfolio to be the default Fixed Allocation Fund with Fixed Allocation Funds Automatic Rebalancing.

Other Funds. All portfolios available under the Contract other than Accepted Funds or the Fixed
Allocation Funds are considered Other Funds.

Fixed Allocation Funds Automatic Rebalancing. If the Contract value in the Fixed Allocation Funds is
less than 20% of the total Contract value allocated to both the Fixed Allocation Funds and Other Funds on any
ING LifePay Plus Rebalancing Date, we will automatically rebalance the Contract value allocated to the Fixed
Allocation Funds and Other Funds so that 20% of this amount is allocated to the Fixed Allocation Funds.
Accepted Funds are excluded from Fixed Allocation Funds Automatic Rebalancing. Any rebalancing is done
on a pro-rata basis from the Other Funds to the Fixed Allocation Funds and will be the last transaction
processed on that date. The ING LifePay Plus Rebalancing Dates occur on each Contract anniversary and after
the following transactions:

1)    receipt of additional premiums; 
2)    transfer or reallocation among the Fixed Allocation Funds or Other Funds, whether automatic or 
    specifically directed by you; 
3)    withdrawals from the Fixed Allocation Funds or Other Funds. 

  Fixed Allocation Funds Automatic Rebalancing is separate from any other automatic rebalancing under the
Contract. However, if the other automatic rebalancing under the Contract causes the allocations to be out of
compliance with the investment option restrictions noted above, Fixed Allocation Funds Automatic
Rebalancing will occur immediately after the automatic rebalancing to restore the required allocations. See
“Appendix H – Examples of Fixed Allocation Funds Automatic Rebalancing.” You will be notified that Fixed
Allocation Funds Automatic Rebalancing has occurred, along with your new allocations, by a confirmation
statement that will be mailed to you after Fixed Allocation Funds Automatic Rebalancing has occurred.

In certain circumstances, Fixed Allocation Funds Automatic Rebalancing may result in a reallocation into the
Fixed Allocation Funds even if you have not previously been invested in it. See “Appendix H – Examples of
Fixed Allocation Funds Automatic Rebalancing, Example I.” By electing to purchase the ING LifePay Plus
rider, you are providing the Company with direction and authorization to process these transactions,
including reallocations into the Fixed Allocation Funds. You should not purchase the ING LifePay Plus
rider if you do not wish to have your Contract value reallocated in this manner.

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  Death of Owner or Annuitant. The ING LifePay Plus rider and charges will terminate on the date of
death of the owner (or in the case of joint owners, the first owner), or the annuitant if there is a non-natural
owner.

Continuation After Death – Spouse. If the surviving spouse of the deceased owner continues the
Contract (see “Death Benefit Choices – Continuation After Death – Spouse”), the rider will also continue on the
next quarterly contract anniversary, provided the spouse becomes the annuitant and sole owner.

If the rider is in the Growth Phase at the time of spousal continuation:

1)    The rider will continue in the Growth Phase; 
2)    On the date the rider is continued, the ING LifePay Plus Base will be reset to equal the greater of the 
    ING LifePay Plus Base and the then current Contract value; 
3)    The ING LifePay Plus charges will restart and be the same as were in effect prior to the claim date; 
4)    Ratchets, which stop on the claim date, are restarted, effective on the date the rider is continued; 
5)    Any remaining step-ups will be available, and if the rider is continued before an annual contract 
    anniversary when a step-up would have been available, then that step-up will be available; 
6)    The Maximum Annual Withdrawal percentage will be determined as of the date of the first 
    withdrawal, whenever it occurs, and will be based on the spouse’s age on that date; and 
7)    The rider’s Standard Withdrawal Benefit will be available until the quarterly contract anniversary on or 
    after the spouse is age 59 ½. 

  If the rider is in the Withdrawal Phase at the time of spousal continuation:

1)    The rider will continue in the Withdrawal Phase. 
 
2)    The rider’s charges will restart on the date the rider is continued and be the same as were in effect prior 
    to the claim date. 
 
3)    On the quarterly Contract anniversary that the date the rider is continued: 
 
    (a)    If the surviving spouse was not the annuitant before the owner’s death, then the ING LifePay 
        Plus Base will be reset to the current Contract value and the Maximum Annual Withdrawal is 
recalculated by multiplying the new ING LifePay Plus Base by the Maximum Annual
        Withdrawal percentage based on the surviving spouse’s age on that date. Withdrawals are 
        permitted pursuant to the other provisions of the rider. Withdrawals causing the Contract value 
        to fall to zero will terminate the Contract and the rider. 
 
    (b)    If the surviving spouse was the annuitant before the owner’s death, then the ING LifePay Plus 
        Base will be reset to the current Contract value, only if greater, and the Maximum Annual 
        Withdrawal is recalculated by multiplying the new ING LifePay Plus Base by the Maximum 
        Annual Withdrawal percentage based on the surviving spouse’s age on that date. Withdrawals 
        are permitted pursuant to the other provisions of the rider. 
 
4)    The rider charges will restart on the quarter Contract anniversary that the rider is continued and will be 
    the same as were in effect prior to the claim date. 

  Effect of ING LifePay Plus Rider on Death Benefit. If you die before Lifetime Automatic Periodic
Benefit Status begins under the ING LifePay Plus rider, the death benefit is payable, but the rider terminates.
However, if the beneficiary is the owner’s spouse, and the spouse elects to continue the Contract, the death

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benefit is not payable until the spouse’s death. Thus, you should not purchase this rider with multiple
owners, unless the owners are spouses. See “Death of Owner or Annuitant” and “Continuation After Death –
Spouse,” above for further information.

While in Lifetime Automatic Periodic Benefit Status, if the owner who is not the annuitant dies, we will
continue to pay the periodic payments that the owner was receiving under the ING LifePay Plus rider to the
beneficiary. While in Lifetime Automatic Periodic Benefit Status, if an owner who is also the annuitant dies,
the periodic payments will stop. No other death benefit is payable.

While the rider is in Automatic Periodic Benefit Status, if the owner dies, the remaining ING LifePay Plus Base
will be paid to the beneficiary in a lump sum.

Change of Owner or Annuitant. Other than as provided above under “Continuation After Death- Spouse,”
you may not change the annuitant. The rider and rider charges will terminate upon change of owner, including
adding an additional owner, except for the following ownership changes:

1)    spousal continuation as described above; 
2)    change of owner from one custodian to another custodian; 
3)    change of owner from a custodian for the benefit of an individual to the same individual; 
4)    change of owner from an individual to a custodian for the benefit of the same individual; 
5)    collateral assignments; 
6)    change in trust as owner where the individual owner and the grantor of the trust are the same 
    individual; 
7)    change of owner from an individual to a trust where the individual owner and the grantor of the trust 
    are the same individual; and 
8)    change of owner from a trust to an individual where the individual owner and the grantor of the trust 
    are the same individual. 

Surrender Charges. If you elect the ING LifePay Plus rider, the amount of your withdrawals will be subject to
surrender charges if they exceed the free withdrawal amount, so long as there is contract value from which to take
your withdrawals. However, once your Contract value is reduced to zero, any periodic payments under the ING
LifePay Plus rider would not subject to surrender charges. Moreover, with no contract value, none of your
contract level recurring charges (e.g., the
Mortality and Expense Risk Charge) would be deducted. See Appendix I for examples.

Loans. No loans are permitted on Contracts with the ING LifePay Plus rider.

Taxation. For more information about the tax treatment of amounts paid to you under the ING LifePay Plus
Rider, see “Federal Tax Considerations – Tax Consequences of Living Benefits and Death Benefit.”

6. Also under the “LIVING BENEFITS RIDERS” section beginning on page 37, replace
the paragraphs about the “ING Joint LifePay Minimum Guaranteed Withdrawal Benefit
(“ING Joint LifePay”) Rider” with:

ING Joint LifePay Plus Minimum Guaranteed Withdrawal Benefit (“ING Joint LifePay Plus”) Rider. The
ING Joint LifePay Plus rider generally provides, subject to the restrictions and limitations below, that we will
guarantee a minimum level of annual withdrawals from the Contract for the lifetime of both you and your spouse,

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even if these withdrawals deplete your contract value to zero. You may wish to purchase this rider if you are
married and are concerned that you and your spouse may outlive your income.

Purchase. Beginning on and after January 28, 2008, you may elect to purchase the ING Joint LifePay Plus
rider. The ING Joint LifePay Plus rider is only available to individuals who are married at the time
of purchase and eligible to elect spousal continuation (as defined by the Tax Code) when the death benefit becomes
payable. We refer to these individuals as spouses. Certain ownership, annuitant, and beneficiary designations are
required in order to purchase the ING Joint LifePay Plus rider. See “Ownership, Annuitant, and Beneficiary
Requirements,” below.

The maximum issue age is 80. Both spouses must meet these issue age requirements on the contract anniversary on
which the ING Joint LifePay Plus rider is effective. The issue age is the age of the owners on the Contract
anniversary on which the rider is effective.

The ING Joint LifePay Plus rider is
subject to broker/dealer availability. The ING
Joint LifePay Plus rider will not be issued until your contract value is allocated
in accordance with the investment option restrictions described in “Investment Option Restrictions,”
below. Please note that with the ING Joint LifePay Plus rider, you cannot allocate
contract value to a Fixed Interest Division at any time
.



Contracts issued on and after November 1, 2004 are eligible for the ING Joint LifePay Plus rider, subject to
the conditions, requirements and limitations of the prior paragraph.



Such Contracts must not already have a living benefit
rider. Or if your Contract meets the above eligibility date and has the ING Joint LifePay rider, you may upgrade to
the ING Joint LifePay Plus rider for a limited time. There is an election form for this purpose. Please contact our
Customer Service Center for more information.

Ownership, Annuitant, and Beneficiary Designation Requirements. Certain ownership, annuitant, and
beneficiary designations are required in order to purchase the ING Joint LifePay Plus rider. These designations
depend upon whether the contract is issued as a nonqualified contract, an IRA or a custodial IRA. In all cases, the
ownership, annuitant, and beneficiary designations must allow for the surviving spouse to continue the contract
when the death benefit becomes payable, as provided by the Tax Code. Non-natural, custodial owners are only
allowed with IRAs (“custodial IRAs”). Joint annuitants are not allowed. The necessary ownership, annuitant,
and/or beneficiary designations are described below. Applications that do not meet the requirements below will be
rejected. We reserve the right to verify the date of birth and social security number of both spouses.

Nonqualified Contracts. For a jointly owned contract, the owners must be spouses, and the annuitant
must be one of the owners. For a contract with only one owner, the owner’s spouse must be the sole primary
beneficiary, and the annuitant must be one of the spouses.

IRAs. There may only be one owner, who must also be the annuitant. The owner’s spouse must be the
sole primary beneficiary.

Custodial IRAs. While we do not maintain individual owner and beneficiary designations for IRAs held
by an outside custodian, the ownership and beneficiary designations with the custodian must comply with the
requirements listed in “IRAs” above. The annuitant must be the same as the beneficial owner of the custodial
IRA. We require the custodian to provide us the name and date of birth of both the owner and the owner’s
spouse.

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Rider Date. The ING Joint LifePay Plus rider date is the date the ING Joint LifePay Plus rider becomes
effective. If you purchase the ING Joint LifePay Plus rider when the contract is issued, the ING Joint LifePay Plus
rider effective date is also the contract date. If the rider is added after contract issue, the rider effective date will be
the date of the Contract’s next following quarterly contract anniversary.

No Cancellation. Once you purchase the ING Joint LifePay Plus rider, you many not cancel it unless you: a)
cancel the contract during the contract’s free look period; b) surrender the Contract; c) start receiving annuity
payments; or d) otherwise terminate the Contract pursuant to its terms. These events automatically cancel the ING
Joint LifePay Plus rider.

Termination. The ING Joint LifePay Plus rider is a “living benefit,” which means the guaranteed benefits
offered are intended to be available to you and your spouse while you are living and while your contract is in the
accumulation phase. The optional rider automatically terminates if you:

1)    terminate your contract pursuant to its terms during the accumulation phase, surrender your Contract, 
    or begin receiving income phase payments in lieu of payments under the ING Joint LifePay Plus rider; 
 
2)    die during the accumulation phase (first owner to die in the case of joint owners, or death of annuitant 
    if the contract is a custodial IRA), unless your spouse elects to continue the contract (and your spouse 
    is active for purposes of the ING Joint LifePay Plus rider); or 
 
3)    change the owner of the contract (other than a spousal continuation by an active spouse). 

See “Change of Owner or Annuitant,” below. Other circumstances that may cause the ING Joint LifePay Plus rider
to terminate automatically are discussed below.

Active Status. Once the ING Joint LifePay Plus rider has been issued, a spouse must remain in “active” status
in order to exercise rights and receive the benefits of the ING Joint LifePay Plus rider after the first spouse’s death
by electing spousal continuation. In general, changes to the ownership, annuitant, and/or beneficiary designation
requirements noted above will result in one spouse being designated as “inactive.” Inactive spouses are not eligible
to continue the benefits of the ING Joint LifePay Plus rider after the death of the other spouse. Once designated
“inactive,” a spouse may not regain active status under the ING Joint LifePay Plus rider. Specific situations that will
result in a spouse’s designation as “inactive” include the following:

1)    For nonqualified contracts where the spouses are joint owners, the removal of a joint owner (if that 
    spouse does not automatically become sole primary beneficiary pursuant to the terms of the contract), 
    or the change of one joint owner to a person other than an active spouse. 
 
2)    For nonqualified contracts where one spouse is the owner and the other spouse is the sole primary 
    beneficiary, as well as for IRA contracts (including custodial IRAs), the addition of a joint owner who 
    is not also an active spouse or any change of beneficiary (including the addition of primary 
    beneficiaries). 
 
3)    In the event of the death of one spouse (in which case the deceased spouse becomes inactive). 

An owner may also request that one spouse be treated as inactive. In the case of joint-owned contracts, both
contract owners must agree to such a request. An inactive spouse is not eligible to exercise any rights or receive any
benefits under the ING Joint LifePay Plus rider. However, all charges for the ING Joint LifePay Plus rider will
continue to apply, even if one spouse becomes inactive, regardless of the reason. You should make sure you
understand the impact of beneficiary and owner changes on the ING Joint LifePay Plus rider prior to
requesting any such changes.

A divorce will terminate the ability of an ex-spouse to continue the contract. See “Divorce,” below.

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How the ING Joint LifePay Plus Rider Works. The ING Joint LifePay Plus rider has both phases and
statuses. Through the lifetime of the ING Joint LifePay Plus rider, you will be in one of two phases: the Growth
Phase or the Withdrawal Phase. As detailed below, the Growth Phase begins on the effective date of the rider and
ends as of the business day before you take your first withdrawal, or
on your Contract’s annuity start date.
See “The Income Phase – Restrictions on Start Dates and the Duration of Payments.”
During the Growth Phase, no benefits under the ING Joint LifePay Plus rider are being paid out; rather, during the
Growth Phase, premiums and investment growth under your contract continue to accumulate. The Withdrawal
Phase follows the Growth Phase and begins once you take your first withdrawal or annuity payment, whichever
occurs first. During the Withdrawal Phase, you may withdraw guaranteed amounts from your Contract, subject to
the terms and conditions noted in this section.

During the Withdrawal Phase, this rider has four different statuses that come in a pair to fulfill your withdrawal
guarantee: Guaranteed Withdrawal Status and Automatic Periodic Benefit Status; and Lifetime Guaranteed
Withdrawal Status and Lifetime Automatic Periodic Benefit Status. Together, these status pairs operate to fulfill the
rider’s withdrawal guarantee and depend on how old your annuitant is when you take your first withdrawal.
Guaranteed

Guaranteed Withdrawal Status begins on the date of the first withdrawal, ONLY IF the quarterly contract
anniversary following the youngest active spouse’s 65th birthday has not yet passed, and continues until certain
circumstances occur as noted in “Guaranteed Withdrawal Status” below. Thereafter, Automatic Periodic Benefit
Status would begin ONLYIF your contract value is depleted to zero for reasons other than
withdrawals that exceed the Maximum Annual Withdrawal, as discussed more thoroughly below. In Automatic
Periodic Benefit Status, you are no longer entitled to make withdrawals. Instead, under the ING LifePay Plus rider,
you will begin to receive periodic payments in an annual amount equal to the Maximum Annual Withdrawal until
the MGWB Base is exhausted. Alternatively, in the event your contract
value is depleted because of withdrawals that exceed the Maximum Annual Withdrawal, then Automatic Periodic
Benefit Status would not begin. Rather, the Contract and the ING LifePay Plus rider will terminate without value.



Lifetime Guaranteed Withdrawal Status begins on the date of the first withdrawal, provided the quarterly contract
anniversary following the youngest active spouse’s 65th birthday has passed, and continues until certain
circumstances occur as noted in the “Lifetime Guaranteed Withdrawal Status” below. Thereafter, Lifetime
Automatic Periodic Benefit Status would begin ONLY IF you contract value is depleted to zero
for reasons other than withdrawals that exceed the Maximum Annual Withdrawal, as discussed more thoroughly
below. In Lifetime Automatic Periodic Benefit Status, you are no longer entitled to make withdrawals. Instead,
under the ING LifePay Plus rider, you will begin to receive periodic payments in an amount equal to the Maximum
Annual Withdrawal. Alternatively, in the event your contract value is depleted because of withdrawals that
exceed the Maximum Annual Withdrawal, then Lifetime Automatic Periodic Benefit Status would not begin.
Rather, the Contract and the ING LifePay Plus rider will terminate without value.



Benefits paid under the ING Joint LifePay Plus rider require the calculation of the Maximum Annual Withdrawal.
The ING Joint LifePay Plus Base (referred to as the “MGWB Base” in the contract) is used to determine the
Maximum Annual Withdrawal and is calculated as follows:

1)    If you purchased the ING Joint LifePay Plus rider on the contract date, the initial ING Joint LifePay 
    Plus Base is equal to the initial premium (excluding any credit on the premium, or premium credit, 
    available with your Contract). 
 
2)    If you purchased the ING Joint LifePay Plus rider after the contract date, the initial ING Joint LifePay 
    Plus Base is equal to the contract value on the effective date of the ING Joint LifePay Plus rider 
    (excluding any premium credits applied during the preceding 36 months). 

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During the Growth Phase, the initial ING Joint LifePay Plus Base is increased dollar-for-dollar by any premiums
received, excluding any credits on premiums, or premium credits, applied to your Contract during the preceding 36
months (“eligible premiums”). In addition, on each quarterly contract anniversary, the ING Joint LifePay Plus Base
is recalculated as the greater of:

·    The current ING Joint LifePay Plus Base; or 
·    The current Contract value (excluding any premium credits applied during the 36 months preceding the 
    calculation). This is referred to as a quarterly “ratchet.” 

Also, on each of the first five contract anniversaries ONLY after the youngest active spouse reaches age 65, the ING
Joint LifePay Plus Base is recalculated as the greatest of:

·    The current ING Joint LifePay Plus Base; or 
·    The current Contract value (excluding any premium credits applied during the 36 months preceding the 
    calculation); and 
·    The ING Joint LifePay Plus Base on the previous contract anniversary, increased by 7%, plus any eligible 
    premiums and minus any third-party investment advisory fees paid from your contract during the year. 
    This is referred to as an annual “step-up.” (Any premium credits applied during the prior 36 months are 
    excluded from the eligible premiums with a step-up.) 

Please note that there are no partial step-ups. Step-ups are not pro-rated. So for existing Contracts to which this
rider is added (a post Contract issuance election), the first
opportunity for a step-up will not be until the first contract anniversary after a full contract
year has elapsed since the rider effective date, SO LONG AS the youngest active spouse is at least age 65
.

Say for example that with a Contract purchased on January 1, 2007, the contract owner decides to add Joint LifePay
Plus on March 15, 2007. The rider effective date is April 1, 2007, which is the date of the Contract’s next following
quarterly contract anniversary. Because on January 1, 2008 a full contract year will not have elapsed since the rider
effective date, the ING Joint LifePay Plus Base will not be eligible for a step-up. Rather, the first opportunity for a
step-up with this Contract is on January 1, 2009, assuming the youngest active spouse is age 65.


This rider has no cash value. You cannot surrender the Contract for the ING Joint LifePay Plus Base. The
ING Joint LifePay Plus Base is not available to annuitize.

Currently, any additional premiums paid during the Withdrawal Phase are not eligible premiums for purposes of
determining the ING Joint LifePay Plus Base or the Maximum Annual Withdrawal; however, we reserve the right to
treat such premiums as eligible premiums at our discretion, in a nondiscriminatory manner. Premiums received
during the Withdrawal Phase do increase the contract value used to determine the reset Maximum Annual
Withdrawal under the benefit reset feature of the ING Joint LifePay Plus rider (see “ING Joint LifePay Plus Reset,”
below). We reserve the right to discontinue allowing premium payments during the Withdrawal Phase.

Guaranteed Withdrawal Status. This status begins on the date of the first withdrawal, ONLY IF the quarterly
contract anniversary has not passed on which or after the youngest active spouse is age 65
. This status will then continue until the earliest of:

1)    quarterly contract anniversary following the youngest active spouse’s 65th birthday, provided the 
    contract owner does not decline the change to Lifetime Guaranteed Withdrawal Status; 
2)    reduction of the ING Joint LifePay Plus Base to zero, at which time the rider will terminate; 
3)    the date annuity payments begin (see “The Income Phase”); 
4)    reduction of the Contract value to zero by a withdrawal in excess of the Maximum Annual 
    Withdrawal; 

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5)    reduction of the Contract value to zero by a withdrawal less than or equal to the Maximum Annual 
    Withdrawal (see “Automatic Periodic Benefit Status,” below); 
6)    the surrender of the Contract;  
7)    the death of the owner (first owner, in the case of joint owners; annuitant, in the case of a non-natural 
    owner), unless your spouse beneficiary elects to continue the Contract; or 
8)    automatic reset into the Lifetime Guaranteed Withdrawal Status. 

You will receive prior notice, of not less than 30 days, if you are in the Guaranteed Withdrawal Status and become
eligible for the Lifetime Guaranteed Withdrawal Status. This notice will explain the change, its impact to you and
your options. You may decline this change.




Please note with the automatic reset into the Lifetime Guaranteed Withdrawal Status, it is possible that the
Maximum Annual Withdrawal, as recalculated, will be less due to your withdrawals (and reduction of the ING Joint
LifePay Plus Base as a result) while the rider was in Guaranteed Withdrawal Status. See Appendix I, Illustration 6,
for an example. Also please note, however, that by declining automatic reset into the Lifetime Guaranteed
Withdrawal Status, your ING Joint LifePay Plus will not thereafter be automatically reset quarterly – to the then
current contract value (excluding any premium credits applied during the 36 months preceding the calculation) if the
contract value is higher – as it could be while the rider is in Lifetime Guaranteed Withdrawal Status. No further
resets will be available. For more information, please see “ING Joint LifePay Plus Reset” below.


If you decline the automatic reset, your rider will continue in the Guaranteed
Withdrawal Status. There will not be another opportunity to automatically reset into the Lifetime Guaranteed
Withdrawal Status. Thereafter, in the event contract value is reduced to zero for a reason other than a withdrawal in
excess of the Maximum Annual Withdrawal, including due to poor market performance, your rider’s status will
change to Automatic Periodic Benefit Status. In Automatic Periodic Benefit Status, other than the payments as
provided under the ING Joint LifePay Plus rider, the Contract will provide no further benefits (including death
benefits). In the event contract value is reduced to zero by a withdrawal in excess of the Maximum
Annual Withdrawal, the Contract and rider will terminate without value. For more information about the effect of a
withdrawal reducing the contract value to zero, please see “Automatic Periodic Benefit Status,” below.



Please see below for more information about each of this rider’s four different statuses.

Lifetime Guaranteed Withdrawal Status. This status begins on the date of the first withdrawal, SO LONG AS
the quarterly contract anniversary has passed on which or after the youngest active spouse is
age 65. Or for Contracts in Guaranteed Withdrawal Status,
the Lifetime Guaranteed Withdrawal Status begins upon automatic reset
. This status continues until
the earliest of:

1)    the date annuity payments begin (see “The Income Phase”); 
2)    reduction of the contract value to zero by a withdrawal in excess of the Maximum Annual Withdrawal; 
3)    reduction of the contract value to zero by a withdrawal less than or equal to the Maximum Annual 
    Withdrawal (see “Lifetime Automatic Periodic Benefit Status,” below); 

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4)    the surrender of the contract; or 
 
5)    the death of the owner (first owner, in the case of joint owners; annuitant, in the case of a non-natural 
    owner), unless your active spouse beneficiary elects to continue the contract. 

The rider’s status changes to Lifetime Automatic Periodic Benefit Status in the event contract value is reduced to
zero for a reason other than a withdrawal in excess of the Maximum Annual Withdrawal, including due to poor
market performance. In Lifetime Automatic Periodic Benefit Status, other than the payments as provided under the
ING Joint LifePay Plus rider, the Contract will provide no further benefits (including death benefits). Otherwise, if
contract value is reduced to zero by a withdrawal in excess of the Maximum Annual Withdrawal, the Contract and
rider will terminate without value. For more information about the effect of a withdrawal reducing the Contract
value to zero, please see “Lifetime Automatic Periodic Benefit Status” below. As described below, certain features
of the ING Joint LifePay Plus rider may differ depending on whether you are in the Lifetime Guaranteed
Withdrawal Status.

Determination of the Maximum Annual Withdrawal. The Maximum Annual Withdrawal is determined
on the date the Withdrawal Phase begins. It equals a percentage of the greater of 1) the contract value and 2)
the ING Joint LifePay Plus Base as of the last day of the Growth Phase. The first withdrawal after the effective
date of the ING Joint LifePay Plus rider (which causes the end of the Growth Phase) is treated as occurring on
the first day of the Withdrawal Phase, immediately after calculation of the Maximum Annual Withdrawal. The
Maximum Annual Withdrawal percentage, which varies by age of the youngest active spouse on the date the
Withdrawal Phase begins, is as follows:

Youngest Active    Maximum Annual 
Spouse’s Age    Withdrawal Percentage 
0-75*    5%* 
76-80    6% 
81+    7% 

  *If the Withdrawal Phase begins before the quarterly contract anniversary on or after the younger spouse
reaches age 65, withdrawals in a contract year up to the Maximum Annual Withdrawal will reduce the ING
Joint LifePay Plus Base dollar-for-dollar, under what your rider refers to as the “Standard Withdrawal
Benefit.” Then, on the quarterly contract anniversary on or after the younger spouse reaches age 65, the ING
Joint LifePay Plus Base will automatically be reset to the current Contract value (excluding any premium
credits applied during the preceding 36 months), if greater, and the Maximum Annual Withdrawal will be
recalculated.

Once determined the Maximum Annual Withdrawal percentage never changes for the contract. This is
important to keep in mind in deciding when to take your first withdrawal because the younger you are at that
time, the lower the Maximum Annual Withdrawal percentage.

If the Contract’s annuity commencement date is reached while you are in the ING Joint LifePay Plus rider’s
Growth Phase, then you may elect a life only annuity option, in lieu of the Contract’s other annuity options,
under which we will pay the greater of the annuity payout under the Contract and equal annual payments of the
Maximum Annual Withdrawal, provided that, if both spouses are active, payments under the life only annuity
option will be calculated using the joint life expectancy table for both spouses. If only one spouse is active,
payments will be calculated using the single life expectancy table for the active spouse.

Whether the Maximum Annual Withdrawal is subject to change depends on the extent of your withdrawals.
The amount of your withdrawal or withdrawals in a contract year that, when added together, do not exceed the
Maximum Withdrawal Amount do not reduce the Maximum Withdrawal Amount. However, if the total
amount of your withdrawals in any contract year exceeds the Maximum Annual Withdrawal, then the
Maximum Annual Withdrawal will be reduced in the same proportion as the contract value is reduced by the
excess withdrawal.

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  For this purpose, an excess withdrawal is the lesser of the amount by which your total withdrawals in a contract
year exceed the Maximum Annual Withdrawal and the amount of your present request for a withdrawal. The
amount of any applicable premium credit deduction (recapture) or surrender charges are not included in
determining whether the total amount of your withdrawals in a contract year exceeds the Maximum Annual
Withdrawal and triggers a pro-rata reduction. However, in the event that the Maximum Annual Withdrawal is
to be subject to a pro-rata reduction because of an excess withdrawal, the amount by which the Maximum
Annual Withdrawal will be reduced will include any premium credit deduction and surrender charges. See
Appendix I, Illustration 1 and 2 for examples of this concept.

Required Minimum Distributions. Withdrawals taken from the contract to satisfy the Required
Minimum Distribution rules of the Tax Code are considered withdrawals for purposes of the ING Joint LifePay
Plus rider, and will begin the Withdrawal Phase if the Withdrawal Phase has not already started. Any such
withdrawal that exceeds the Maximum Annual Withdrawal for a specific contract year will not be deemed
excess withdrawals in that contract year for purposes of the ING Joint LifePay Plus rider, subject to the
following:

1)    If the contract owner’s Required Minimum Distribution for a calendar year (determined on a date on or 
    before January 31 of that year), applicable to the contract, is greater than the Maximum Annual 
    Withdrawal on that date, an Additional Withdrawal Amount will be set equal to that portion of the 
    Required Minimum Distribution that exceeds the Maximum Annual Withdrawal. 
 
2)    Once you have taken the Maximum Annual Withdrawal for the then current contract year, the dollar 
    amount of any additional withdrawals will count first against and reduce any unused Additional 
    Withdrawal Amount for the previous calendar year followed by any Additional Withdrawal Amount 
    for the current contract year – without being deemed an excess withdrawal. 
 
3)    In the event of any withdrawals that exceed the Maximum Annual Withdrawal and all available 
    Additional Withdrawal Amounts, the dollar amount of these withdrawals will be deemed excess 
    withdrawals that cause the Maximum Annual Withdrawal to be reduced on a pro-rata basis, as 
    described above. 
 
4)    The Additional Withdrawal Amount is available on a calendar year basis and is recalculated every 
    January, reset to equal that portion of the Required Minimum Distribution for that calendar year that 
    exceeds the Maximum Annual Withdrawal on that date. Any unused amount of the Additional 
    Withdrawal Amount carries over into the next calendar year and is available through the end of that 
    year, at which timeany remaining amount will expire. 
 
5)    The Additional Withdrawal Amount does not change in the event you choose to reset the Maximum 
    Annual Withdrawal Amount. See “ING Joint LifePay Plus Reset Option” below. The Additional 
    Withdrawal Amount is only subject to change when the Additional Withdrawal Amount is reset as 
    described above. 

  See Appendix I, Illustrations 3 and 4.

  Investment Advisory Fees. Withdrawals taken pursuant to a program established by the owner for the
payment of investment advisory fees to a named third party investment adviser for advice on management of
the contract’s values will not cause the Withdrawal Phase to begin. During the Growth Phase, such withdrawals
reduce the ING Joint LifePay Plus Base on a dollar-for-dollar basis, and during the Withdrawal Phase, these
withdrawals are treated as any other withdrawal.

Automatic Periodic Benefit Status. If the Contract value is reduced to zero by a withdrawal in excess of
the Maximum Annual Withdrawal, the Contract and the rider will terminate without value due to the pro-rata
reduction described in “Determination of the Maximum Annual Withdrawal” above.

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  If the Contract value is reduced to zero for a reason other than a withdrawal in excess of the Maximum Annual
Withdrawal while the rider is in Guaranteed Withdrawal Status, the rider will enter Automatic Periodic Benefit
Status and you are no longer entitled to make withdrawals. Instead, under the ING Joint LifePay Plus rider, you
will begin to receive periodic payments in an annual amount equal to the Maximum Annual Withdrawal, until
the remaining ING Joint LifePay Plus Base is exhausted.

  When the rider enters Automatic Periodic Benefit Status:

1)    the Contract will provide no further 
    benefits (including death benefits) other than as provided under the ING Joint LifePay Plus rider; 
2)    no further premium payments will be accepted; and 
3)    any other riders attached to the Contract will terminate, unless otherwise specified in that rider. 

  During Automatic Periodic Benefit Status, we will pay you periodic payments in an annual amount that is equal
to the Maximum Annual Withdrawal. These payments will continue until the ING Joint LifePay Plus Base is
reduced to zero, at which time the rider will terminate without value.

If when the ING Joint LifePay Plus rider enters Automatic Periodic Benefit Status your net withdrawals to date
are less than the Maximum Annual Withdrawal for that contract year, then we will pay you the difference
immediately. The periodic payments will begin on the last day of the first full Contract year following the date
the rider enters Automatic Periodic Benefit Status and will continue to be paid annually thereafter.

You may elect to receive systematic withdrawals pursuant to the terms of the Contract. Under a systematic
withdrawal, either a fixed amount or an amount based upon a percentage of contract value will be withdrawn
from your Contract and paid to you on a scheduled basis, either monthly, quarterly or annually. If, at the time
the rider enters Automatic Periodic Benefit Status, you are receiving systematic withdrawals under the Contract
more frequently than annually, the periodic payments will be made at the same frequency in equal amounts such
that the sum of the payments in each Contract year will equal the annual Maximum Annual Withdrawal. Such
payments will be made on the same payment dates as previously set up, if the payments were being made
monthly or quarterly. If the payments were being made semi-annually or annually, the payments will be made
at the end of the half-Contract year or Contract year, as applicable.

Lifetime Automatic Periodic Benefit Status. If the contract value is reduced to zero by a withdrawal in
excess of the Maximum Annual Withdrawal, the contract and the ING Joint LifePay Plus rider will terminate
without value due to the pro-rata reduction described in “Determination of the Maximum Annual Withdrawal,”
above.

If the contract value is reduced to zero for a reason other than a withdrawal in excess of the Maximum Annual
Withdrawal while the ING Joint LifePay Plus rider is in Lifetime Guaranteed Withdrawal Status, the ING Joint
LifePay Plus rider will enter Lifetime Automatic Periodic Benefit Status and you are no longer entitled to make
withdrawals. Instead, under the ING Joint LifePay Plus rider you will begin to receive periodic payments in an
annual amount equal to the Maximum Annual Withdrawal.

When the ING Joint LifePay Plus rider enters Lifetime Automatic Periodic Benefit Status:

1)    the contract will provide no further 
    benefits (including death benefits) other than as provided under the ING Joint LifePay Plus rider; 
2)    no further premium payments will be accepted; and 
3)    any other riders attached to the contract will terminate, unless otherwise specified in that rider. 

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During Lifetime Automatic Periodic Benefit Status, we will pay you periodic payments in an annual amount
that is equal to the Maximum Annual Withdrawal. The time period for which we will make these payments will
depend upon whether one or two spouses are active under the ING Joint LifePay Plus rider at the time this
status begins. If both spouses are active under the ING Joint LifePay Plus rider, these payments will cease upon
the death of the second spouse, at which time both the ING Joint LifePay Plus rider and the contract will
terminate without further value. If only one spouse is active under the ING Joint LifePay Plus rider, the
payments will cease upon the death of the active spouse, at which time both the ING Joint LifePay Plus rider
and the contract will terminate without value.

If when the ING Joint LifePay Plus rider enters Lifetime Automatic Periodic Benefit Status your net
withdrawals to date are less than the Maximum Annual Withdrawal for that contract year, then we will pay you
the difference immediately. The periodic payments will begin on the last day of the first full contract year
following the date the rider enters Lifetime Automatic Periodic Benefit Status and will continue to be paid
annually thereafter.

You may elect to receive systematic withdrawals pursuant to the terms of the contract. Under a systematic
withdrawal, either a fixed amount or an amount based upon a percentage of the contract value will be
withdrawn from your contract and paid to you on a scheduled basis, either monthly, quarterly or annually. If, at
the time the ING Joint LifePay Plus rider enters Lifetime Automatic Periodic Benefit Status, you are receiving
systematic withdrawals under the contract more frequently than annually, the periodic payments will be made at
the same frequency in equal amounts such that the sum of the payments in each contract year will equal the
annual Maximum Annual Withdrawal. Such payments will be made on the same payment dates as previously
set up, if the payments were being made monthly or quarterly. If the payments were being made semi-annually
or annually, the payments will be made at the end of the half-contract year or contract year, as applicable.

ING Joint LifePay Plus Reset. Once the Lifetime Guaranteed Withdrawal Status begins and the
Maximum Annual Withdrawal has been determined, on each quarterly contract anniversary we will increase (or
“reset”) the ING Joint LifePay Plus Base to the current Contract value (excluding any premium credits applied
during the 36 months preceding the calculation), if the Contract value is higher. The Maximum Annual
Withdrawal will also be recalculated, and the remaining portion of the new Maximum Annual Withdrawal will
be available for withdrawal immediately. This reset ONLY occurs when the rider is in Lifetime Guaranteed
Withdrawal Status, and is automatic.

We reserve the right to change the charge for this rider with a reset. In this event, you will receive prior notice,
of not less than 30 days, which explains the change, its impact to you and your options. You may decline this
change (and the reset). Please note, however, that by declining a reset, your ING Joint LifePay Plus Base will
not thereafter be reset quarterly (and the Maximum Annual Withdrawal will also not be recalculated); no
further resets will be available.

Investment Option Restrictions. While the ING Joint LifePay Plus rider is in effect, there are limits on the
portfolios to which your contract value may be allocated. Contract value allocated to portfolios other than Accepted
Funds will be rebalanced so as to maintain at least 20% of such contract value in the Fixed Allocation Funds. See
“Fixed Allocation Funds Automatic Rebalancing,” below. We have these restrictions to mitigate the insurance risk
inherent in our guarantees with this rider. We require this allocation regardless of your investment instructions to
the Contract. The timing of when and how we apply these restrictions is discussed further below.

Accepted Funds. Currently Accepted Funds are : ING
Franklin Templeton Founding Strategy Portfolio; ING LifeStyle Moderate Portfolio; ING LifeStyle Moderate
Growth Portfolio; ING LifeStyle Growth Portfolio; ING MFS Total Return Portfolio; ING T. Rowe Price
Capital Appreciation Portfolio; ING Van Kampen Equity and Income Portfolio; ING WisdomTreeSM Global
High-Yielding Equity Index Portfolio; and ING Liquid Assets Portfolio
. We may change these designations at any time upon 30 days notice to you. If a change is
made, the change will apply to contract value allocated to such portfolios after the date of the change.

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  Fixed Allocation Funds. The ING American Fund Bond Portfolio, the ING VP Intermediate Bond
Portfolio and the ING PIMCO Core Bond Portfolio are designated as the Fixed Allocation Funds. You may
allocate contract value to one or both Fixed Allocation Funds. We consider the ING VP Intermediate Bond
Portfolio to be the default Fixed Allocation Fund with Fixed Allocation Funds Automatic Rebalancing.

Other Funds. All portfolios available under the contract other than Accepted Funds or the Fixed
Allocation Funds are considered Other Funds.

Fixed Allocation Funds Automatic Rebalancing. If the contract value in the Fixed Allocation Funds is
less than 20% of the total contract value allocated to both the Fixed Allocation Funds and Other Funds on any
ING Joint LifePay Plus Rebalancing Date, we will automatically rebalance the contract value allocated to the
Fixed Allocation Funds and Other Funds so that 20% of this amount is allocated to the Fixed Allocation Funds.
Accepted Funds are excluded from Fixed Allocation Funds Automatic Rebalancing. Any rebalancing is done
on a pro-rata basis from the Other Funds to the Fixed Allocation Funds and will be the last transaction
processed on that date. The ING Joint LifePay Plus Rebalancing Dates occur on each contract anniversary and
after the following transactions:

1)    receipt of additional premiums; 
2)    transfer or reallocation among the Fixed Allocation Funds or Other Funds, whether automatic or 
    specifically directed by you; and 
3)    withdrawals from the Fixed Allocation Funds or Other Funds. 

Fixed Allocation Funds Automatic Rebalancing is separate from any other automatic rebalancing under the
contract. However, if the other automatic rebalancing under the contract causes the allocations to be out of
compliance with the investment option restrictions noted above, Fixed Allocation Funds Automatic
Rebalancing will occur immediately after the automatic rebalancing to restore the required allocations. See
“Appendix H – Examples of Fixed Allocation Funds Automatic Rebalancing.” You will be notified that Fixed
Allocation Funds Automatic Rebalancing has occurred, along with your new allocations, by a confirmation
statement that will be mailed to you after Fixed Allocation Funds Automatic Rebalancing has occurred.

In certain circumstances, Fixed Allocation Funds Automatic Rebalancing may result in a reallocation into the
Fixed Allocation Funds even if you have not previously been invested in it. See “Appendix H – Examples of
Fixed Allocation Funds Automatic Rebalancing, Example I.” By electing to purchase the ING Joint LifePay
Plus rider, you are providing the Company with direction and authorization to process these
transactions, including reallocations into the Fixed Allocation Funds. You should not purchase the ING
Joint LifePay Plus rider if you do not wish to have your contract value reallocated in this manner.

Divorce. Generally, in the event of a divorce, the spouse who retains ownership of the contract will continue to
be entitled to all rights and benefits of the ING Joint LifePay Plus rider, while the ex-spouse will no longer have any
such rights or be entitled to any such benefits. In the event of a divorce during Lifetime Guaranteed Withdrawal
Status, the ING Joint LifePay Plus rider continues, and terminates upon the death of the owner (first owner in the
case of joint owners, or the annuitant in the case of a custodial IRA). Although spousal continuation may be
available under the Tax Code for a subsequent spouse, the ING Joint LifePay Plus rider cannot be continued by the
new spouse. As the result of the divorce, we may be required to withdraw assets for the benefit of an ex-spouse.
Any such withdrawal will be considered a withdrawal for purposes of the Maximum Annual Withdrawal amount. In
other words, if a withdrawal incident to a divorce exceeds the Maximum Annual Withdrawal amount, it will be
considered an excess withdrawal. See “Determination of the Maximum Annual Withdrawal,” above. As noted, in
the event of a divorce there is no change to the Maximum Annual Withdrawal and we will continue to deduct
charges for the ING Joint LifePay Plus rider.

In the event of a divorce during Lifetime Automatic Periodic Benefit Status, there will be no change to the periodic
payments made. Payments will continue until both spouses are deceased.

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Death of Owner. The death of the owner (or in the case of joint owners, the first owner, or for custodial IRAs,
the annuitant) may cause the termination of the ING Joint LifePay Plus rider and its charges, depending upon
whether one or both spouses are in active status at the time of death, as described below.

1)    If both spouses are in active status: If the surviving spouse elects to continue the contract and 
    becomes the sole owner and annuitant, the ING Joint LifePay Plus rider will remain in effect pursuant 
    to its original terms and ING Joint LifePay Plus coverage and charges will continue. As of the date the 
    contract is continued, the Joint LifePay Plus Base will be reset to the current Contact value, if greater, 
    and the Maximum Annual Withdrawal will recalculated as the Maximum Annual Withdrawal 
    percentage multiplied by the new Joint LifePay Plus Base on the date the contract is continued. 
    However, under no circumstances will this recalculation result in a reduction to the Maximum Annual 
    Withdrawal. 
 
    If the surviving spouse elects not to continue the contract, ING Joint LifePay Plus rider coverage and 
    charges will cease upon the earlier of payment of the death benefit or notice that an alternative 
    distribution option has been chosen. 
 
2)    If the surviving spouse is in inactive status: The ING Joint LifePay Plus rider terminates and ING 
    Joint LifePay Plus coverage and charges cease upon the date of death of the last Active Spouse. 

Change of Owner or Annuitant. Other than as a result of spousal continuation, you may not change the
annuitant. The ING Joint LifePay Plus rider and rider charges will terminate upon change of owner, including
adding an additional owner, except for the following ownership changes:

1)    spousal continuation by an active spouse, as described above; 
2)    change of owner from one custodian to another custodian for the benefit of the same individual; 
3)    change of owner from a custodian for the benefit of an individual to the same individual (in order to 
    avoid the owner’s spouse from being designated inactive, the owner’s spouse must be named sole 
    beneficiary under the contract); 
4)    change of owner from an individual to a custodian for the benefit of the same individual; 
5)    collateral assignments; 
6)    for nonqualified contracts only, the addition of a joint owner, provided that the additional joint owner 
    is the original owner’s spouse and is active when added as joint owner; 
7)    for nonqualified contracts, removal of a joint owner, provided the removed joint owner is active and 
    becomes the primary contract beneficiary; and 
8)    change of owner where the owner becomes the sole primary beneficiary and the sole primary 
    beneficiary becomes the owner if both were active spouses at the time of the change. 

Surrender Charges. If you elect the ING Joint LifePay Plus rider, the amount of your withdrawals will be
subject to surrender charges if they exceed the free withdrawal amount, so long as there is contract value from which
to take your withdrawals. However, once your contract value is reduced to zero, any periodic payments under
the ING Joint LifePay Plus rider would not subject to surrender charges
. Moreover, with no contract value, none of your contract level recurring charges
(e.g., the Mortality and Expense Risk Charge) would be deducted. See Appendix I for examples.

Federal Tax Considerations. For more information about the tax treatment of amounts paid to you under the
ING Joint LifePay Plus rider, see “Federal Tax Considerations – Tax Consequences of Living Benefits and Death
Benefit.”

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Empire Traditions – 147323    12/07 

7. Add APPENDIX I:

  APPENDIX I

ING LifePay Plus and ING Joint LifePay Plus Partial Withdrawal Amount Examples

The following are examples of adjustments to the Maximum Annual Withdrawal amount for withdrawals in excess
of the Maximum Annual Withdrawal:

Illustration 1: Adjustment to the Maximum Annual Withdrawal amount for a withdrawal in excess of the
Maximum Annual Withdrawal, including surrender charges.

Assume the Maximum Annual Withdrawal is $5,000.

The first withdrawal taken during the contract year is $3,000 net, with $500 of surrender charges
. The Maximum Annual Withdrawal is not exceeded.

The next withdrawal taken during the contract year is $1,500 net, with $300 of surrender charges
. The Maximum Annual Withdrawal is not exceeded because total net withdrawals, $4,500, do not exceed
the Maximum Annual Withdrawal, $5,000.

The next withdrawal taken during the contract year is $1,500 net, with $200 of surrender charges
. Because total net withdrawals taken, $6,000, exceed the Maximum Annual Withdrawal, $5,000, then there
is an adjustment to the Maximum Annual Withdrawal.

Total gross withdrawals during the contract year are $7,000 ($3,000 + $500 + $1,500 + $300 + $1,500 + $200). The
adjustment is the lesser of the amount by which the total gross withdrawals for the year exceed the Maximum
Annual Withdrawal ($7,000 - $5,000 = $2,000), and the amount of the current gross withdrawal ($1,500 + 200 =
$1,700. Because total gross withdrawals within the contract year prior to this withdrawal ($5,300) had already
exceeded the Maximum Annual Withdrawal, the entire gross withdrawal is considered an excess withdrawal.

If the Contract Value before this withdrawal is $50,000, then the Maximum Annual Withdrawal is reduced
by 3.40% ($1,700 / $50,000) to $4,830 ((1 - 3.40%) * $5,000).

Illustration 2: Adjustment to the Maximum Annual Withdrawal amount for a withdrawal in excess of the
Maximum Annual Withdrawal.

Assume the Maximum Annual Withdrawal is $5,000.

The first withdrawal taken during the contract year is $3,000 net, with $0 of surrender charges
. The Maximum Annual Withdrawal is not exceeded.

The next withdrawal taken during the contract year is $1,500 net, with $0 of surrender charges
. The Maximum Annual Withdrawal is not exceeded because total net withdrawals, $4,500, do not exceed
the Maximum Annual Withdrawal, $5,000.

The next withdrawal taken during the contract year is $1,500 net, with $0 of surrender charges
. Because total net withdrawals taken, $6,000, exceed the Maximum Annual Withdrawal, $5,000, there is an
adjustment to the Maximum Annual Withdrawal. However, because only $4,500 in gross withdrawals was taken
during the contract year prior to this withdrawal, $500 of the $1,500 gross withdrawal is not considered excess.

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Empire Traditions – 147323    12/07 

Total gross withdrawals during the contract year are $6,000 ($3,000 + $1,500 + $1,500). The adjustment is the
lesser of the amount by which the total gross withdrawals for the year exceed the Maximum Annual Withdrawal,
$1,000, and the amount of the current gross withdrawal, $1,500.

If the Contract Value before this withdrawal is $50,000, and the Contract Value is $49,500 after the part of
the gross withdrawal that was within the Maximum Annual Withdrawal, $500, , then the Maximum
Annual Withdrawal is reduced by 2.02% ($1,000 / $49,500) to $4,899 ((1 - 2.02%) * $5,000).

Illustration 3: A withdrawal exceeds the Maximum Annual Withdrawal amount but does not exceed the
Additional Withdrawal Amount.

Assume the Maximum Annual Withdrawal is $5,000. The Required Minimum Distribution for the current calendar
year applicable to this contract is determined to be $6,000. The Additional Withdrawal Amount is set equal to the
excess of this amount above the Maximum Annual Withdrawal, $1,000 ($6,000 - $5,000).

The first withdrawal taken during the contract year is $3,000 net, with $0 of surrender charges
. The Maximum Annual Withdrawal is not exceeded.

The next withdrawal taken during the contract year is $1,500 net, with $0 of surrender charges
. The Maximum Annual Withdrawal is not exceeded because total net withdrawals, $4,500, do not exceed
the Maximum Annual Withdrawal, $5,000.

The next withdrawal taken during the contract year is $1,500 net, with $0 of surrender charges
. Total net withdrawals taken, $6,000, exceed the Maximum Annual Withdrawal, $5,000, however, the
Maximum Annual Withdrawal is not adjusted until the Additional Withdrawal Amount is exhausted. The amount by
which total net withdrawals taken exceed the Maximum Annual Withdrawal, $1,000 ($6,000 - $5,000), is the same
as the Additional Withdrawal Amount, so no adjustment to the Maximum Annual Withdrawal is made. If total net
withdrawals taken had exceeded the sum of the Maximum Annual Withdrawal and the Additional Withdrawal
Amount, then an adjustment would be made to the Maximum Annual Withdrawal.

Illustration 4: The Additional Withdrawal Amount at the end of the calendar year before it is withdrawn.

Assume the most recent contract date was July 1, 2007 and the Maximum Annual Withdrawal is $5,000. Also
assume RMDs, applicable to this contract, are $6,000 and $5,000 for 2008 and 2009 calendar years respectively.

Between July 1, 2007 and December 31, 2007, a withdrawal of $5,000 is taken which exhausts the Maximum
Annual Withdrawal.

On January 1, 2008, the Additional Withdrawal Amount is set equal to the excess of the 2008 RMD above the
existing Maximum Annual Withdrawal, $1,000 ($6,000 - $5,000. Note that the Maximum Annual Withdrawal has
been exhausted however is still used to calculate the Additional Withdrawal Amount.

The owner now has until December 31, 2009 to take the newly calculated Additional Withdrawal Amount of
$1,000. The owner decides not to take the Additional Withdrawal Amount of $1,000 in 2008.

On January 1, 2009, the Additional Withdrawal Amount is set equal to the excess of the 2009 RMD above the
existing Maximum Annual Withdrawal, $0 ($5,000 - $5,000). Note that the Additional Withdrawal Amount of
$1,000 from the 2008 calendar year carries over into the 2009 calendar year and is available for withdrawal.

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Empire Traditions – 147323    12/07 

Illustration 5: The Reset Occurs.

Assume the Maximum Annual Withdrawal is $5,000 and the Maximum Annual Withdrawal percentage is 5%.

One year after the first withdrawal is taken, the contract value has increased to $120,000, and the Reset occurs. The
Maximum Annual Withdrawal is now $6,000 ($120,000 * 5%).

One year after the Reset, the contract value has increased further to $130,000. The Reset occurs again, and the
Maximum Annual Withdrawal is now $6,500 ($130,000 * 5%).

If the contract value on the next quarterly contract anniversary has fallen to $100,000, the Reset will not occur and
the Maximum Annual Withdrawal would not be recalculated.

Illustration 6: The Reset from Guaranteed Withdrawal Status into Lifetime Guaranteed Withdrawal Status

Assume the first withdrawal is taken in the first contract year when the Annuitant is age 56, thus beginning the
Withdrawal Phase in Guaranteed Withdrawal Status. Also assume that at the time of the first withdrawal, the
LifePay Plus Base is $100,000 before the withdrawal and the Maximum Annual Withdrawal is $5,000 ($100,000 *
5%).

Withdrawals are also taken from the contract in an amount equal to the MAW at the beginning of each of the next
three contract years, each withdrawal resulting in a dollar for dollar reduction to the LifePay Plus Base.

After the withdrawal is taken at the beginning of the fourth contract year, the Annuitant is now age 59 ½, the MAW
is still $5,000, and the LifePay Plus Base has been reduced to $80,000.

On the quarterly contract anniversary following the date the Annuitant reaches age 59 ½, the rider will enter
Lifetime Guaranteed Withdrawal Status and the MAW will be recalculated to equal the appropriate MAW% times
the current MGWB Base, or $4,000 ($80,000 * 5%).

Illustration 7: A withdrawal exceeds the Maximum Annual Withdrawal amount and the Additional
Withdrawal Amount.

Assume the Maximum Annual Withdrawal is $5,000. The Required Minimum Distribution for the current calendar
year applicable to this contract is determined to be $6,000. The Additional Withdrawal Amount is set equal to the
excess of this amount above the Maximum Annual Withdrawal, $1,000 ($6,000 - $5,000).

The first withdrawal taken during the contract year is $3,000 net, with $0 of surrender charges
. The Maximum Annual Withdrawal is not exceeded.

The next withdrawal taken during the contract year is $1,500 net, with $0 of surrender charges
. The Maximum Annual Withdrawal is not exceeded because total net withdrawals, $4,500, do not exceed
the Maximum Annual Withdrawal, $5,000.

The next withdrawal taken during the contract year is $3,500 net, with $0 of surrender charges
. Total net withdrawals taken, $8,000, exceed the sum of the Maximum Annual Withdrawal and the
Additional Withdrawal Amount, $6,000, and there is an adjustment to the Maximum Annual Withdrawal.

Total gross withdrawals during the contract year are $8,000 ($3,000 + $1,500 + $3,500). The adjustment is the
lesser of the amount by which the total gross withdrawals for the year exceed the sum of the Maximum Annual
Withdrawal and the Additional Withdrawal Amount ($8,000 - $6,000 = $2,000), and the amount of the current gross
withdrawal ($3,500).

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Empire Traditions – 147323    12/07 

If the Contract Value before this withdrawal is $50,000, then the Maximum Annual Withdrawal is reduced by
4.00% ($2,000 / $50,000) to $4,800 ((1 - 4.00%) * $5,000).

Illustration 8: Adjustment to the Maximum Annual Withdrawal amount for a withdrawal in excess of the
Maximum Annual Withdrawal.

Assume the Maximum Annual Withdrawal is $5,000.

The first withdrawal taken during the contract year is $3,000 net, with $0 of surrender charges
. The Maximum Annual Withdrawal is not exceeded.

The next withdrawal taken during the contract year is $1,500 net, with $0 of surrender charges
. The Maximum Annual Withdrawal is not exceeded because total net withdrawals, $4,500, do not exceed
the Maximum Annual Withdrawal, $5,000.

The next withdrawal taken during the contract year is $1,500 net, with $0 of surrender charges
. Because total net withdrawals taken, $6,000, exceed the Maximum Annual Withdrawal, $5,000, there is an
adjustment to the Maximum Annual Withdrawal. However, because only $4,500 in gross withdrawals was taken
during the contract year prior to this withdrawal, $500 of the $1,500 gross withdrawal is not considered excess.

Total gross withdrawals during the contract year are $6,000 ($3,000 + $1,500 + $1,500). The adjustment is the lesser
of the amount by which the total gross withdrawals for the year exceed the Maximum Annual Withdrawal, $1,000,
and the amount of the current gross withdrawal, $1,500.

If the Account Value after the part of the gross withdrawal that was within the Maximum Annual Withdrawal, $500,
is $49,500, then the Maximum Annual Withdrawal is reduced by 2.02% ($1,000 / $49,500) to $4,899 ((1 - 2.02%)
* $5,000).

Another withdrawal is taken during that same contract year in the amount of $400 net, with $100 of surrender
charges. Total gross withdrawals during the contract year are $6,500 ($3,000 + $1,500 +
$1,500 + $500). The adjustment to the MAW is the lesser of the amount by which the total gross withdrawals for
the year exceed the Maximum Annual Withdrawal, $1,500, and the amount of the current gross withdrawal, $500.

If the Account Value before this withdrawal is $48,500, then the Maximum Annual Withdrawal is reduced by 1.03%
($500 / $48,500) to $4,849 ((1 – 1.03%) * $4,899).

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Empire Traditions – 147323    12/07 

SUPPLEMENT Dated December 31, 2007
To The Prospectus Dated September 4, 2007 For

                                                                  ING Empire Traditions Variable Annuity (Formerly, ING SmartDesign Variable Annuity – NY)

Issued By ReliaStar Life Insurance Company of New York
Through Separate Account NY-B of ReliaStar Life Insurance Company of New York

This supplement updates the current prospectus for your deferred combination variable and fixed annuity
contract. Please read it carefully and keep it with your copy of the prospectus for future reference. If you
have any questions, please call our Customer Contact Center at 1-800-366-0066.

The following investment portfolios will be available under your Contract – effective January 28, 2008,
with more information about them hereby added to “Appendix B – The Investment Portfolios” (and their
names hereby added to the list of available investment portfolios toward the front of the prospectus).

Fund Name and     
Investment Adviser/Subadviser    Investment Objective 
ING Investors Trust     
       7337 E. Doubletree Ranch Road, Scottsdale, AZ 85258     
ING American Funds Bond Portfolio    The Portfolio seeks to maximize your level of current income 
     (Class S)    and preserve your capital. The Portfolio’s investment objective 
    is not fundamental and may be changed without shareholder 
   Investment Adviser: ING Investments, LLC    vote. 
 
ING WisdomTreeSM Global High – Yielding Equity Index    The Portfolio seeks investment returns that closely correspond 
     Portfolio    to the price and yield performance, before fees and expenses, of 
     (Class S)    the WisdomTreeSM Global High-Yielding Equity Index 
    (“Index”). The Portfolio’s investment objective is not 
   Investment Adviser: ING Investments, LLC    fundamental and may be changed without a shareholder vote. 
   Investment Subadviser: ING Investment Management Co.     

Both the ING American Funds Bond Portfolio and ING WisdomTreeSM Global High – Yielding Equity
Index Portfolio are Covered Funds for purposes of determining your MGIB Benefit Base under the
Minimum Guaranteed Income Benefit rider. The ING American Funds Bond Portfolio is designated as an
additional Fixed Allocation Fund and the ING WisdomTreeSM Global High – Yielding Equity Index
Portfolio as an Accepted Fund for purposes of any living benefit rider’s asset allocation requirements, as
applicable.

Also, effective January 28, 2008, please note the name change, and that the following investment
portfolio of the ING Investors Trust will be reopened to new premium and contract value allocations with
all references in the prospectus hereby changed accordingly.

ING Van Kampen Capital Growth Portfolio    Seeks long-term capital appreciation. 
     (Class S)     
     (formerly, ING Van Kampen Equity Growth Portfolio)     
     Investment Adviser: Directed Services LLC     
     Investment Subadviser: Van Kampen     

The ING Van Kampen Capital Growth Portfolio is a Covered Fund for purposes of determining your
MGIB Benefit Base under the Minimum Guaranteed Income Benefit rider, and is designated as an Other
Fund for purposes of any living benefit rider’s asset allocation requirements, as applicable.

RLNY – 147325

01/28/2008

PART B
Statement of Additional Information
ING Empire Traditions Variable Annuity
(formerly, ING SmartDesign Variable Annuity – NY) 
Deferred Combination Variable and Fixed Annuity Contract 
Issued by
SEPARATE ACCOUNT NY-B
of
RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK 

This Statement of Additional Information is not a Prospectus. The information contained herein should
be read in conjunction with the prospectus for the ReliaStar Life Insurance Company of New York
deferred combination variable and fixed annuity contract which is referred to herein. The prospectus sets
forth information that a prospective investor ought to know before investing. For a copy of the
prospectus, send a written request to ReliaStar Life Insurance Company of New York, Customer Service
Center, P.O. Box 9271 Des Moines, IA 50306-9271 or telephone 1-800-366-0066.

                                                                                       DATE OF PROSPECTUS
                                                                                  September 4, 2007

 
                                                                                                    AND

                                                              STATEMENT OF ADDITIONAL INFORMATION:
                                                             December 31, 2007

Table of Contents
 
Item    Page 
 
Introduction               1 
Description of ReliaStar Life Insurance Company of New York               1 
Separate Account NY-B of ReliaStar Life Insurance Company of New York               1 
Safekeeping of Assets               1 
The Administrator               1 
Independent Registered Public Accounting Firm               1 
Distribution of Contracts               1 
Published Ratings               2 
Accumulation Unit Value               2 
Performance Information               3 
Other Information               3 
Statutory Basis Financial Statements of ReliaStar Life Insurance Company of New York               4 
Financial Statements of Separate Account NY-B               4 

i

Introduction
This Statement of Additional Information provides background information regarding Separate Account
NY-B.

Description of ReliaStar Life Insurance Company of New York
ReliaStar Life Insurance Company of New York (“RLNY”) is a New York stock life insurance company
originally incorporated on June 11, 1917 under the name, The Morris Plan Insurance Society. RLNY is
authorized to transact business in all states, the District of Columbia, the Dominican Republic and the
Cayman Islands and is principally engaged in the business of providing individual life insurance and
annuities, employee benefit products and services, retirement plans, and life and health insurance. Until
October 1, 2003, RLNY was a wholly-owned subsidiary of Security-Connecticut Life Insurance
Company (“Security-Connecticut”). Effective October 1, 2003, Security-Connecticut merged with and
into its parent, ReliaStar Life Insurance Company (“ReliaStar”). ReliaStar is an indirect wholly-owned
subsidiary of ING Groep, N.V. (“ING”), a global financial services holding company based in The
Netherlands. RLNY’s financial statements appear in the Statement of Additional Information.
As of December 31, 2006, RLNY had approximately $441.0 million in stockholder’s equity and
approximately $2,266.6 billion in total assets, including approximately $878.0 billion of separate account
assets. RLNY, an affiliate of ING USA, is licensed to do variable annuity business in the state of New
York.

Separate Account NY-B of ReliaStar Life Insurance Company of New York
Separate Account NY-B is a separate account established by the Company for the purpose of funding
variable annuity contracts issued by the Company. The separate account is registered with the Securities
and Exchange Commission (“SEC”) as a unit investment trust under the Investment Company act of
1940, as amended. Purchase payments to accounts under the contract may be allocated to one or more of
the subaccounts. Each subaccount invests in the shares of only one of the funds offered under the
contracts. We may make additions to, deletions from or substitutions of available investment options as
permitted by law and subject to the conditions of the contract. The availability of the funds is subject to
applicable regulatory authorization. Not all funds are available in all jurisdictions or under all contracts.

ING also owns Directed Services LLC the investment manager of ING Investors Trust and the distributor
of the Contracts, and other interests. ING also owns ING Investments, LLC and ING Investment
Management, LLC, portfolio managers of ING Investors Trust and the investment managers of the ING
Variable Insurance Trust and the ING Variable Products Trust, respectively. ING also owns Baring
International Investment Limited, another portfolio manager of ING Investors Trust. Our principle office
is located at 1000 Woodbury Road, Suite 208, Woodbury, New York 11797.

Safekeeping of Assets
RLNY acts as its own custodian for Separate Account NY-B.

The Administrator
On November 8, 1996, First Golden American Life Insurance Company of New York (“First Golden”)
and ING USA Annuity and Life Insurance Company (“ING USA”) entered into an administrative service
agreement pursuant to which ING USA agreed to provide certain accounting, actuarial, tax, underwriting,
sales, management and other services to First Golden. Beginning on April 1, 2002, the effective date of
the merger of First Golden into RLNY (“merger date”), the expenses incurred by ING USA in relation to
this service agreement will be reimbursed by RLNY on an allocated cost basis. As of the merger date,
RLNY will be obligated to reimburse these expenses. For the years ended December 31, 2006, 2005 and
2004, RLNY incurred expenses of $0, $0 and $0, respectively, under the agreement with ING USA.

1

Also on November 8, 1996, First Golden, ING USA and Directed Services LLC entered into a service
agreement pursuant to which First Golden and ING USA agreed to provide Directed Services LLC certain
of its personnel to perform management, administrative and clerical services and the use of certain of its
facilities. As of the merger date, RLNY will provide its personnel to provide such services. RLNY
expects to charge Directed Services LLC for such expenses and all other general and administrative costs,
first on the basis of direct charges when identifiable and second allocated based on the estimated amount
of time spent by RLNY’s employees on behalf of Directed Services LLC. For the year ended December
31, 2006, there were no charges to ING USA and Directed Services LLC for these services.

Independent Registered Public Accounting Firm
Ernst & Young LLP, Suite 1000, 55 Ivan Allen Jr. Boulevard, Atlanta GA 30308, an Independent
Registered Public Accounting Firm, perform annual audits of RLNY and Separate Account NY-B.

Distribution of Contracts
The offering of contracts under the prospectus associated with this Statement of Additional Information is
continuous. Directed Services LLC, an affiliate of RLNY, acts as the principal underwriter (as defined in
the Securities Act of 1933 and the Investment Company Act of 1940, as amended) of the variable
insurance products (the “variable insurance products”) issued by RLNY. The contracts are distributed
through registered representatives of other broker-dealers who have entered into selling agreements with
Directed Services LLC. For the years ended 2006, 2005 and 2004 commissions paid by ING USA,
including amounts paid by its affiliated Company, ReliaStar Life Insurance Company of New York, to
Directed Services LLC aggregated $10,048,681,, $6,964,000 and $2,244,000,, respectively. As of the
merger date, RLNY became the depositor for these variable insurance products. All commissions
received by the distributor were passed through to the broker-dealers who sold the contracts. Directed
Services LLC is located at 1475 Dunwoody Drive, West Chester, Pennsylvania 19380-1478.

Published Ratings
From time to time, the rating of RLNY as an insurance company by A.M. Best Company may be referred
to in advertisements or in reports to contract owners. Each year A.M. Best Company reviews the financial
status of thousands of insurers, culminating in the assignment of Best’s Ratings. These ratings reflect their
current opinion of the relative financial strength and operating performance of an insurance company in
comparison to the norms of the life/health insurance industry. Best’s ratings range from A++ to F. An
A++ and a A+ rating means, in the opinion of A.M. Best, that the insurer has demonstrated the strongest
ability to meet its respective policyholder and other contractual obligations.

Accumulation Unit Value
The calculation of the Accumulation Unit Value (“AUV”) is discussed in the prospectus for the Contracts
under “Performance Information.” Note that in your Contract, contract value is referred to as
accumulation value. The following illustrations show a calculation of a new AUV and the purchase of
Units (using hypothetical examples). Note that the examples below are calculated for a Contract issued
with the Annual Ratchet Death Benefit Option, the death benefit option with the highest mortality and
expense risk charge. The mortality and expense risk charge associated with the Standard Death Benefit
Option is lower than that used in the examples and would result in higher AUV’s or contract values.

Illustration of Calculation of AUV     
                   Example 1.     
                   1.    AUV, beginning of period    $10.00000000 
                   2.    Value of securities, beginning of period    $10.00000000 
                   3.    Change in value of securities    0.10000000 
                   4.    Gross investment return (3) divided by (2)    0.01000000 
                   5.    Less daily mortality and expense charge    0.00003446 

2

                   6.    Less asset based administrative charge    0.00000411 
                   7.    Net investment return (4) minus (5) minus (6)    0.00996163 
                   8.    Net investment factor (1.000000) plus (7)    1.00996163 
                   9.    AUV, end of period (1) multiplied by (8)    $10.09961430 
 
Illustration of Purchase of Units (Assuming No State Premium Tax)     
                   Example 2.     
                   1.    Initial Premium Payment    $1,000 
                   2.    AUV on effective date of purchase (see Example 1)    $10.00000000 
                   3.    Number of Units purchased [(1) divided by (2)]    100.00000000 
                   4.    AUV for valuation date following purchase (see Example 1)    $10.09961430 
                   5.    Contract Value in account for valuation date following     
    purchase [(3) multiplied by (4)]    $1,009.96 

Performance Information
From time to time, we may advertise or include in reports to contract owners performance information for
the subaccounts of Separate Account NY-B, including the average annual total return performance, yields
and other nonstandard measures of performance. Such performance data will be computed, or
accompanied by performance data computed, in accordance with standards defined by the SEC.

Except for the Liquid Assets subaccount, quotations of yield for the subaccounts will be based on all
investment income per unit (contract value divided by the accumulation unit) earned during a given
30-day period, less expenses accrued during such period. Information on standard total average annual
return performance will include average annual rates of total return for 1, 5 and 10 year periods, or lesser
periods depending on how long Separate Account NY-B has been investing in the portfolio. We may
show other total returns for periods of less than one year. Total return figures will be based on the actual
historic performance of the subaccounts of Separate Account NY-B, assuming an investment at the
beginning of the period when the separate account first invested in the portfolio and withdrawal of the
investment at the end of the period, adjusted to reflect the deduction of all applicable portfolio and current
contract charges. We may also show rates of total return on amounts invested at the beginning of the
period with no withdrawal at the end of the period. Total return figures which assume no withdrawals at
the end of the period will reflect all recurring charges, but will not reflect the surrender charge. In
addition, we may present historic performance data for the investment portfolios since their inception
reduced by some or all of the fees and charges under the Contract. Such adjusted historic performance
includes data that precedes the inception dates of the subaccounts of Separate Account NY-B. This data
is designed to show the performance that would have resulted if the Contract had been in existence before
the separate account began investing in the portfolios.

Current yield for the Liquid Assets subaccount is based on income received by a hypothetical investment
over a given 7-day period, less expenses accrued, and then “annualized” (i.e., assuming that the 7-day
yield would be received for 52 weeks). We calculate “effective yield” for the Liquid Assets subaccount
in a manner similar to that used to calculate yield, but when annualized, the income earned by the
investment is assumed to be reinvested. The “effective yield” will thus be slightly higher than the “yield”
because of the compounding effect of earnings. We calculate quotations of yield for the remaining
subaccounts on all investment income per accumulation unit earned during a given 30-day period, after
subtracting fees and expenses accrued during the period, assuming no surrender. You should be aware
that there is no guarantee that the Liquid Assets subaccount will have a positive or level return.

We may compare performance information for a subaccount to: (i) the Standard & Poor’s 500 Stock
Index, Dow Jones Industrial Average, Donoghue Money Market Institutional Averages, or any other
applicable market indices; (ii) other variable annuity separate accounts or other investment products

3

tracked by Lipper Analytical Services (a widely used independent research firm which ranks mutual funds
and other investment companies), or any other rating service; and (iii) the Consumer Price Index (measure
for inflation) to determine the real rate of return of an investment in the Contract. Our reports and
promotional literature may also contain other information including the ranking of any subaccount based
on rankings of variable annuity separate accounts or other investment products tracked by Lipper
Analytical Services or by similar rating services.

Performance information reflects only the performance of a hypothetical contract and should be
considered in light of other factors, including the investment objective of the investment portfolio and
market conditions. Please keep in mind that past performance is not a guarantee of future results.

Other Information
Registration statements have been filed with the SEC under the Securities Act of 1933 as amended, with
respect to the Contracts discussed in this Statement of Additional Information. Not all of the information
set forth in the registration statements, amendments and exhibits thereto has been included in this
Statement of Additional Information. Statements contained in this Statement of Additional Information
concerning the content of the Contracts and other legal instruments are intended to be summaries. For a
complete statement of the terms of these documents, reference should be made to the instruments filed
with the Securities and Exchange Commission.

FINANCIAL STATEMENTS OF RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
The audited Statutory Basis Financial Statements of ReliaStar Life Insurance Company of New York are
listed below and are included in this Statement of Additional Information:

Report of Independent Registered Public Accounting Firm
Audited Statutory Basis Financial Statements of ReliaStar Life Insurance Company of New York
Balance Sheets- Statutory Basis as of December 31, 2006 and 2005
Statements of Operations – Statutory Basis for the years ended December 31, 2006, 2005 and
2004
Statements of Changes in Capital and Surplus – Statutory Basis for the years ended December 31,
2006, 2005 and 2004
Statements of Cash Flows – Statutory Basis for the years ended December 31, 2006, 2005 and
2004
Notes to Financial Statements

FINANCIAL STATEMENTS OF RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
SEPARATE ACCOUNT NY-B
The audited Financial Statements of ReliaStar Life Insurance Company of New York Separate Account
NY – B are listed below and are included in this Statement of Additional Information:

Report of Independent Registered Public Accounting Firm
Audited Financial Statements of ReliaStar Life Insurance Company of New York Separate
Account NY - B
Statement of Assets and Liabilities as of December 31, 2006
Statement of Operations for the year ended December 31, 2006
Statements of Changes in Net Assets for the years ended December 31, 2006 and 2005
Notes to Financial Statements

4

FINANCIAL STATEMENTS — STATUTORY BASIS
ReliaStar Life Insurance Company of New York
For the years ended December 31, 2006, 2005 and 2004
with Report of Independent Registered Public Accounting Firm

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Financial Statements - Statutory Basis

Contents
 
Report of Independent Registered Public Accounting Firm    1 
 
Audited Financial Statements - Statutory Basis     
 
Balance Sheets - Statutory Basis - as of December 31, 2006 and 2005    3 
Statements of Operations - Statutory Basis - for the years ended December 31, 2006,     
         2005 and 2004    5 
Statements of Changes in Capital and Surplus - Statutory Basis - for the years ended     
         December 31, 2006, 2005 and 2004    6 
Statements of Cash Flows - Statutory Basis - for the years ended December 31,     
         2006, 2005 and 2004    7 
Notes to Financial Statements -Statutory Basis    9 

Report of Independent Registered Public Accounting Firm

Board of Directors and Stockholder
ReliaStar Life Insurance Company of New York

We have audited the accompanying statutory basis balance sheets of ReliaStar Life Insurance
Company of New York (the “Company,” an indirect wholly owned subsidiary of ING America
Insurance Holdings, Inc.), as of December 31, 2006 and 2005, and the related statutory basis
statements of operations, changes in capital and surplus, and cash flows for each of the three
years in the period ended December 31, 2006. These financial statements are the responsibility
of the Company’s management. Our responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting
Oversight Board (United States). Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material
misstatement. We were not engaged to perform an audit of the Company’s internal control over
financial reporting. Our audits included consideration of internal control over financial reporting
as a basis for designing audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the Company’s internal control over
financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, the Company presents its financial statements
in conformity with accounting practices prescribed or permitted by the New York State
Insurance Department (“New York Insurance Department”), which practices differ from United
States generally accepted accounting principles. The variances between such practices and
United States generally accepted accounting principles and the effects on the accompanying
financial statements are described in Note 1. The effects on the financial statements of these
variances are not reasonably determinable but are presumed to be material.

In our opinion, because of the effects of the matter described in the preceding paragraph, the
financial statements referred to above do not present fairly, in conformity with United States
generally accepted accounting principles, the financial position of ReliaStar Life Insurance
Company of New York at December 31, 2006 and 2005, or the results of its operations or its
cash flows for each of the three years in the period ended December 31, 2006.

However, in our opinion, the financial statements referred to above present fairly, in all material
respects, the financial position of ReliaStar Life Insurance Company of New York at
December 31, 2006 and 2005, and the results of its operations and its cash flows for each of the
three years in the period ended December 31, 2006, in conformity with accounting practices
prescribed or permitted by the New York Insurance Department.

/s/ Ernst & Young LLP

Atlanta, Georgia
March 30, 2007

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Balance Sheets - Statutory Basis

    December 31 
    2006    2005 
                                 (In Thousands) 
Admitted assets         
Cash and invested assets:         
   Bonds    $ 1,704,470 $    1,726,321 
   Preferred stocks    4,955    2,000 
   Common stocks    641    522 
   Mortgage loans    158,174    192,068 
   Contract loans    97,662    93,442 
   Other invested assets    29,749    24,892 
   Cash and short-term investments    64,965    45,980 
Total cash and invested assets    2,060,616    2,085,225 
 
Deferred and uncollected premiums, less loading         
   (2006-$4,442; 2005-$3,087)    20,681         (5,126) 
Accrued investment income    17,864    18,171 
Reinsurance balances recoverable    5,559    31,995 
Indebtedness from related parties    1,419    508 
Federal income tax recoverable    2,626    - 
Net deferred tax asset    14,125    12,670 
Separate account assets    876,248    661,578 
Other assets    188    383 
Total admitted assets    $ 2,999,326 $    2,805,404 

The accompanying notes are an integral part of these financial statements.

3

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK     
Balance Sheets - Statutory Basis             
 
 
 
    December 31 
                   2006           2005 
    (In Thousands, 
    except share amounts) 
Liabilities and capital and surplus             
Liabilities:             
   Policy and contract liabilities:             
         Life and annuity reserves    $ 1,600,504    $ 1,573,626 
         Accident and health reserves    30,435        17,301 
         Deposit type contracts    75,164        72,708 
         Policyholders’ funds    1,614        1,711 
         Dividends payable    755        761 
         Policy and contract claims    36,289        33,210 
   Total policy and contract liabilities    1,744,761        1,699,317 
 
   Interest maintenance reserve    4,787        11,511 
   Accounts payable and accrued expenses    8,324        9,602 
   Reinsurance balances    1,945        9,430 
   Indebtedness to related parties    10,315        10,235 
   Contingency reserve    7,624        13,150 
   Asset valuation reserve    14,807        14,352 
   Borrowed money    71,061        97,727 
   Net transfers to Separate Accounts    (27,189)        (18,246) 
   Other liabilities    11,048        19,352 
   Separate account liabilities    873,631        659,078 
Total liabilities    2,721,114        2,525,508 
 
Capital and surplus:             
   Common stock: $2.00 par value; authorized, issued and outstanding             
         1,377,863 shares    2,756        2,756 
   Paid-in and contributed surplus    138,881        138,881 
   Unassigned surplus    136,575        138,259 
Total capital and surplus    278,212        279,896 
Total liabilities and capital and surplus    $ 2,999,326    $ 2,805,404 

The accompanying notes are an integral part of these financial statements.

4

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Statements of Operations - Statutory Basis

        Year ended December 31     
                   2006                         2005        2004 
        (In Thousands)         
Premiums and other revenues:                 
   Life, annuity, and accident and health premiums    $ 423,674    $ 360,173    $ 278,859 
   Considerations for supplementary contracts with life contingencies    335    150        154 
   Net investment income    112,195    113,725        116,891 
   Amortization of interest maintenance reserve    1,590    2,330        2,090 
   Commissions, expense allowances and reserve adjustments on                 
reinsurance ceded    5,496    7,210        9,074 
   Other revenues    15,664    12,642        12,686 
Total premiums and other revenues    558,954    496,230        419,754 
 
Benefits paid or provided:                 
   Death benefits    83,354    81,175        89,424 
   Annuity benefits    18,644    19,682        18,191 
   Surrender benefits and withdrawals    161,361    154,661        163,596 
   Interest on policy or contract funds    2,812    2,362        1,293 
   Accident and health benefits    11,854    18,114        5,620 
   Other benefits    1,123    1,113        1,471 
   Increase in life, annuity, and accident and health reserves    39,991    15,097        27,701 
   Net transfers to (from) separate accounts    125,313    71,081        (11,795) 
Total benefits paid or provided    444,452    363,285        295,501 
 
Insurance expenses and other deductions:                 
   Commissions    41,702    31,998        32,808 
   General expenses    53,402    50,102        42,567 
   Insurance taxes, licenses and fees    7,111    6,282        3,458 
   Other (recovered expenses) deductions    (6,862)    165        2,446 
Total insurance expenses and other deductions    95,353    88,547        81,279 
Gain from operations before policyholder dividends,                 
   federal income taxes and net realized capital losses    19,149    44,398        42,974 
Dividends to policyholders    669    655        579 
Gain from operations before federal income taxes and net realized                 
   capital losses    18,480    43,743        42,395 
Federal income (benefit) taxes    (211)    7,714        21,382 
Gain from operations before net realized capital losses    18,691    36,029        21,013 
Net realized capital losses    (811)    (431)        (2,438) 
Net income    $ 17,880    $ 35,598    $ 18,575 

  The accompanying notes are an integral part of these financial statements.

5

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Statements of Changes in Capital and Surplus - Statutory Basis

        Year ended December 31     
    2006    2005        2004 
        (In Thousands)         
Common stock:                 
   Balance at beginning and end of year    $ 2,756    $ 2,756    $ 2,756 
 
Paid-in and contributed surplus:                 
   Balance at beginning and end of year    138,881    138,881        138,881 
 
Unassigned surplus:                 
   Balance at beginning of year    138,259    119,226        137,026 
   Net income    17,880    35,598        18,575 
   Change in net unrealized capital gains or losses    2,898    1,929        1,930 
   Change in nonadmitted assets    8,055    6,437        (7,892) 
   Change in liability for reinsurance in unauthorized companies    2,962    (981)        (870) 
   Change in asset valuation reserve    (455)    1,377        (1,558) 
   Change in net deferred income tax    (5,542)    (4,527)        11,260 
   Change in premium deficiency reserve    -    -        (12,045) 
   Other changes in surplus    118    -        - 
   Dividends to stockholder    (27,600)    (20,800)        (27,200) 
   Balance at end of year    136,575    138,259        119,226 
Total capital and surplus    $ 278,212    $ 279,896    $ 260,863 

The accompanying notes are an integral part of these financial statements.

6

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Statements of Cash Flows - Statutory Basis

        Year ended December 31     
    2006    2005           2004 
        (In Thousands)     
Operations                 
Premiums, policy proceeds, and other considerations received,                 
   net of reinsurance paid    $ 396,182    $ 362,193    $ 288,618 
Net investment income received    115,293    118,312        120,132 
Commission and expenses paid    (93,750)    (99,494)        (83,457) 
Benefits paid    (259,509)    (278,358)        (265,241) 
Net transfers to (from) separate accounts    (134,283)    (78,159)        11,161 
Dividends paid to policyholders    (622)    (622)        (563) 
Federal income taxes paid    (343)    (24,894)        (12,415) 
Miscellaneous income    25,134    17,968        19,727 
Net cash provided by operations    48,102    16,946        77,962 
 
Investment activities                 
Proceeds from sales, maturities, or repayments of investments:                 
   Bonds    1,324,740    2,224,120        2,476,305 
   Stocks    -    2,227        24 
   Mortgage loans    38,393    36,968        24,536 
   Other invested assets    5,046    4,502        3,017 
   Net gains (losses) on cash and short term investments    (1,333)    18        - 
   Miscellaneous proceeds    352    4,370        7,618 
Total investment proceeds    1,367,198    2,272,205        2,511,500 
 
Cost of investments acquired:                 
   Bonds    1,315,331    2,242,237        2,520,737 
   Stocks    54    61        - 
   Mortgage loans    4,100    14,599        27,333 
   Other invested assets    6,768    6,489        7,735 
   Miscellaneous applications    4,940    3,756        275 
Total cost of investments acquired    1,331,193    2,267,142        2,556,080 
 
Net increase in contract loans    (4,220)    (2,505)        (4,380) 
Net cash provided by (used in) investment activities    31,785    2,558        (48,960) 

The accompanying notes are an integral part of these financial statements.

7

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Statements of Cash Flows - Statutory Basis

        Year ended December 31     
                   2006                         2005        2004 
        (In Thousands)     
Financing and miscellaneous activities                 
Other cash provided (applied):                 
   Borrowed money    (26,663)                         (4,933)    1,198 
   Net deposits (withdrawals) on deposit-type contracts    2,170                         (2,271)    14,613 
   Dividends paid to stockholder    (27,600)    (20,800)    (27,200) 
   Other cash provided (applied)    (8,809)                         22,123        (22,518) 
Net cash used in financing and miscellaneous activities    (60,902)                         (5,881)    (33,907) 
Net increase (decrease) in cash and short-term investments    18,985                         13,623        (4,905) 
Cash and short-term investments:                 
   Beginning of year    45,980                         32,357        37,262 
   End of year    $ 64,965         $ 45,980    $ 32,357 

The accompanying notes are an integral part of these financial statements.

8

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

1. Nature of Operations and Significant Accounting Policies

  ReliaStar Life Insurance Company of New York (the "Company") is domiciled in New
York and is a wholly owned subsidiary of ReliaStar Life Insurance Company
("ReliaStar"), a Minnesota domiciled insurance company. As of October 1, 2003,
ReliaStar is a wholly owned subsidiary of Lion Connecticut Holdings Inc. ("Lion"),
which in turn is a wholly owned subsidiary of ING America Insurance Holdings, Inc.
("ING AIH"). The Company's ultimate parent is ING Groep, N.V. ("ING"), a global
financial services company based in The Netherlands.

The Company principally provides and distributes life insurance and related financial
services products, including individual life insurance and annuities, and group life, and
health products and services. The Company’s strategy is to offer a wide variety of
products and services designed to address customers’ needs for financial security,
especially tax-advantaged savings for retirement and protection in the event of death.

The Company is presently licensed in all 50 states and the District of Columbia.

  Basis of Presentation

  The preparation of financial statements of insurance companies requires management to
make estimates and assumptions that affect amounts reported in the financial statements
and accompanying notes. Such estimates and assumptions could change in the future as
more information becomes known, which could impact the amounts reported and
disclosed herein.

The accompanying financial statements of the Company have been prepared in
conformity with accounting practices prescribed or permitted by the New York Insurance
Department, which practices differ from accounting principles generally accepted in the
United States ("GAAP"). The most significant variances from GAAP are as follows:

Investments: Investments in bonds and mandatorily redeemable preferred stocks are
reported at amortized cost or market value based on the National Association of
Insurance Commissioners ("NAIC") rating; for GAAP, such fixed maturity investments
are designated at purchase as held-to-maturity, trading or available-for-sale. Held-to-
maturity investments are reported at amortized cost, and the remaining fixed maturity
investments are reported at fair value with unrealized capital gains and losses reported in
operations for those designated as trading and as a separate component of other
comprehensive income in stockholder's equity for those designated as available-for-sale.

The Company invests in structured securities, including mortgage backed
securities/collateralized mortgage obligations, asset backed securities, collateralized debt
obligations, and commercial mortgage backed securities. For these structured securities,
management compares the undiscounted cash flows to the carrying value. An other than
temporary impairment is considered to have occurred when the undiscounted cash flows
are less than the carrying value. For GAAP, assets are re-evaluated based on the
discounted cash flows using a current market rate. Impairments are recognized when

9

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  there has been an adverse change in cash flows and the fair value is less than book value.
When a decline in fair value is determined to be other than temporary, the individual
security is written down to fair value and the loss is accounted for as a realized loss.

Statement of Statutory Accounting Principles (“SSAP”) No. 31, Derivative Instruments
applies to derivative transactions entered into prior to January 1, 2003. The Company
also follows the hedge accounting guidance in SSAP No. 86, Accounting for Derivative
Instruments and Hedging Activities for derivative transactions entered into or modified
on or after January 1, 2003. Under this guidance, derivatives that are deemed effective
hedges are accounted for in a manner which is consistent with the underlying hedged
item. Derivatives used in hedging transactions that do not meet the requirements of
SSAP No. 86 as an effective hedge are carried at fair value with the change in value
recorded in surplus as unrealized gains or losses. Embedded derivatives are not
accounted for separately from the host contract. Under GAAP, the effective and
ineffective portions of a single hedge are accounted for separately. An embedded
derivative within a contract that is not clearly and closely related to the economic
characteristics and risk of the host contract is accounted for separately from the host
contract and valued and reported at fair value, and the change in fair value for cash flow
hedges is credited or charged directly to a separate component of shareholder’s equity
rather than to income as required for fair value hedges.

Valuation Reserves: The asset valuation reserve ("AVR") is determined by an NAIC-
prescribed formula and is reported as a liability rather than as a valuation allowance or an
appropriation of surplus. The change in AVR is reported directly to unassigned surplus.

Under a formula prescribed by the NAIC, the Company defers the portion of realized
gains and losses on sales of fixed-income investments, principally bonds and mortgage
loans, attributable to changes in the general level of interest rates and amortizes those
deferrals over the remaining period to maturity based on groupings of individual
securities sold in five-year bands. The net deferral is reported as the interest maintenance
reserve ("IMR") in the accompanying Balance Sheets.

Realized gains and losses on investments are reported in the Statements of Operations net
of federal income tax and transfers to the IMR. Under GAAP, realized capital gains and
losses are reported in the Statements of Operations on a pretax basis in the period that the
asset giving rise to the gain or loss is sold. Realized losses due to impairment are
recorded when there has been a decline in value deemed to be other than temporary, in
which case the provision for such declines is charged to income.

Valuation allowances, if necessary, are established for mortgage loans based on the
difference between the net value of the collateral, determined as the fair value of the
collateral less estimated costs to obtain and sell, and the recorded investment in the
mortgage loan. Under GAAP, such allowances are based on the present value of expected
future cash flows discounted at the loan's effective interest rate or, if foreclosure is
probable, on the estimated fair value of the collateral.

10

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  The initial valuation allowance and subsequent changes in the allowance for mortgage
loans as a result of a temporary impairment are charged or credited directly to unassigned
surplus. Under GAAP, such allowances are included as a component of earnings.

Policy Acquisition Costs: The costs of acquiring and renewing business are expensed
when incurred. Under GAAP, acquisition costs related to traditional life insurance, to the
extent recoverable from future policy revenues, are deferred and amortized over the
premium-paying period of the related policies using assumptions consistent with those
used in computing policy benefit reserves. For universal life insurance and investment
products, to the extent recoverable from future gross profits, acquisition costs are
amortized generally in proportion to the present value of expected gross margins from
surrender charges and investment, mortality, and expense margins.

Premiums: Life premiums are recognized as revenue when due. Premiums for annuity
policies with mortality and morbidity risk, except for guaranteed interest and group
annuity contracts, are also recognized as revenue when due. Premiums received for
annuity policies without mortality or morbidity risk and for guaranteed interest and group
annuity contracts are recorded using deposit accounting.

Under GAAP, premiums for traditional life insurance products, which include those
products with fixed and guaranteed premiums and benefits and consist primarily of whole
life insurance policies, are recognized as revenue when due. Group insurance premiums
are recognized as premium revenue over the time period to which the premiums relate.
Revenues for universal life, annuities and guaranteed interest contracts consist of policy
charges for the cost of insurance, policy administration charges, amortization of policy
initiation fees and surrender charges assessed during the period.

Benefit and Contract Reserves: Life policy and contract reserves under statutory
accounting practices are calculated based upon both the net level premium and
Commissioners' Reserve Valuation methods using statutory rates for mortality and
interest. GAAP requires that policy reserves for traditional products be based upon the
net level premium method utilizing reasonably conservative estimates of mortality,
interest, and withdrawals prevailing when the policies were sold. For interest-sensitive
products, the GAAP policy reserve is equal to the policy fund balance plus an unearned
revenue reserve which reflects the unamortized balance of early year policy loads over
renewal year policy loads.

Reinsurance: For business ceded to unauthorized reinsurers, statutory accounting
practices require that reinsurance credits permitted by the treaty be recorded as an
offsetting liability and charged against unassigned surplus. Under GAAP, an allowance
for amounts deemed uncollectible would be established through a charge to earnings.
Statutory income recognized on certain reinsurance treaties representing financing
arrangements is not recognized on a GAAP basis.

Policy and contract liabilities ceded to reinsurers have been reported as reductions of the
related reserves rather than as assets as required under GAAP.

11

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  Commissions allowed by reinsurers on business ceded are reported as income when
received rather than being deferred and amortized with deferred policy acquisition costs
as required under GAAP.

Gains and losses generated in certain reinsurance transactions are deferred and amortized
over the remaining life of the business for GAAP purposes. For statutory accounting
purposes, such amounts are recognized immediately in income, with gains reported as a
separate component of surplus.

Nonadmitted Assets: Certain assets designated as "nonadmitted," principally deferred
federal income tax assets, disallowed interest maintenance reserves, non-operating
software, past-due agents' balances, furniture and equipment, intangible assets, and other
assets not specifically identified as an admitted asset within the NAIC Accounting
Practices and Procedures Manual are excluded from the accompanying Balance Sheets
and are charged directly to unassigned surplus. Under GAAP, such assets are included in
the Balance Sheets.

Universal Life and Annuity Policies: Revenues for universal life and annuity policies
consist of the entire premium received and benefits incurred represent the total of death
benefits paid and the change in policy reserves. Under GAAP, premiums received in
excess of policy charges would not be recognized as premium revenue and benefits
would represent the excess of benefits paid over the policy account value and interest
credited to the account values.

Policyholder Dividends: Policyholder dividends are recognized when declared rather
than over the term of the related policies as required by GAAP.

Deferred Income Taxes: Deferred tax assets are provided for and admitted to an amount
determined under a standard formula. This formula considers the amount of differences
that will reverse in the subsequent year, taxes paid in prior years that could be recovered
through carrybacks, surplus limits, and the amount of deferred tax liabilities available for
offset. Any deferred tax assets not covered under the formula are non-admitted. Deferred
taxes do not include any amounts for state taxes. Under GAAP, a deferred tax asset is
recorded for the amount of gross deferred tax assets that are expected to be realized in
future years and a valuation allowance is established for the portion that is not realizable.

Statements of Cash Flows: Cash and short-term investments in the Statements of Cash
Flows represent cash balances and investments with initial maturities of one year or less.
Under GAAP, the corresponding caption of cash and cash equivalents includes cash
balances and investments with initial maturities of three months or less.

12

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  Reconciliation to GAAP

  The effects of the preceding variances from GAAP on the accompanying statutory basis
financial statements have not been determined, but are presumed to be material.

Other significant accounting practices are as follows:

  Investments

  Investments are stated at values prescribed by the NAIC, as follows:

Bonds not backed by other loans are principally stated at amortized cost using the
interest method.

Single class and multi-class mortgage-backed/asset-backed securities are valued at
amortized cost using the interest method including anticipated prepayments.
Prepayment assumptions are obtained from dealer surveys or internal estimates and
are based on the current interest rate and economic environment. The retrospective
adjustment method is used to value all such securities except for higher-risk asset
backed securities, which are valued using the prospective method. The Company has
elected to use the book value as of January 1, 1994 as the cost for applying the
retrospective method to securities purchased prior to that date where historical cash
flows are not readily available.

Redeemable preferred stocks rated as high quality or better are reported at cost or
amortized cost. All other redeemable preferred stocks are reported at the lower of
cost, amortized cost, or market value and nonredeemable preferred stocks are
reported at market value or the lower of cost or market value as determined by the
Securities Valuation Office of the NAIC (“SVO”).

Hybrid securities are generally defined as securities including both debt and equity
characteristics. During 2005 and prior, hybrid securities were reported as bonds on
the balance sheet. During 2006, the NAIC held discussions regarding the appropriate
reporting/classification of these securities. Although discussion on the issues will
continue into 2007, the short-term reporting guidance from the NAIC recommends
that hybrid securities, as defined by this same NAIC guidance, be reported as
preferred stock. Therefore, all hybrid securities have been reclassified as preferred
stock on the Company’s balance sheet as of December 31, 2006. This resulted in a
reclassification of $3.0 from bonds to preferred stock on the Company’s balance sheet
as of December 31, 2006.

Common stocks are reported at market value as determined by the SVO and the
related unrealized capital gains/losses are reported in unassigned surplus along with
adjustment for federal income taxes.

The Company analyzes the general account investments to determine whether there
has been an other than temporary decline in fair value below the amortized cost basis.

13

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  Management considers the length of time and the extent to which the market value
has been less than cost, the financial condition and near-term prospects of the issuer,
future economic conditions and market forecasts, and the Company's intent and
ability to not sell the investment in the issuer for a period of time sufficient to allow
for recovery in market value. If it is probable that all amounts due according to the
contractual terms of a debt security will not be collected, an other than temporary
impairment is considered to have occurred. The Company also considers the negative
market impact of the interest rate changes, in addition to credit related items, when
performing other-than-temporary impairment testing. As part of this testing, the
Company determines whether or not it has the ability and intent to not sell the
investments for a period of time sufficient to allow for recovery in fair value.

The Company uses derivatives such as options and futures as part of its overall
interest rate and other economical risk management strategy for certain life insurance
and annuity products. For those derivatives in effective hedging relationships, the
Company values all derivative instruments on a consistent basis with the hedged
item. Upon termination, gains and losses on those instruments are deferred to IMR or
included in the carrying values of the underlying hedged items and are amortized
over the remaining lives of the hedged items as adjustments to investment income or
benefits from the hedged items. Any unamortized gains or losses are recognized
when the underlying hedged items are sold. Derivatives used in hedging transactions
that do not meet the requirements of SSAP No. 86 as an effective hedge are carried at
fair value with change in value recorded in surplus as unrealized gain or loss.

Derivatives that are designated in effective hedging relationships are reported in a
manner that is consistent with the hedged asset or liability. All effective derivatives
are reported at amortized cost with the exception of S&P Options. S&P Options are
reported at fair value since they do not meet the hedge requirement of SSAP No. 86.
The unrealized gains or losses from S&P Options are reported as unrealized gain or
loss in surplus.

Mortgage loans are reported at amortized cost, less allowance for impairments.

Contract loans are reported at unpaid principal balances.

Reverse dollar repurchase agreements are accounted for as collateral borrowings,
where the amount borrowed is equal to the sales price of the underlying securities.

The Company engages in securities lending whereby certain domestic bonds from its
portfolio are loaned to other institutions for short periods of time. Collateral,
primarily cash, which is in excess of the market value of the loaned securities, is
deposited by the borrower with a lending agent, and retained and invested by the
lending agent to generate additional income for the Company. The Company does not
have access to the collateral. The Company's policy requires a minimum of 102% of
the fair value of securities loaned to be maintained as collateral. The market value of

14

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  the loaned securities is monitored on a daily basis with additional collateral obtained
or refunded as the market value fluctuates.

Short-term investments are reported at amortized cost, which approximates market
value. Short-term investments include investments with maturities of less than one
year at the date of acquisition.

Partnership interests, which are included in other invested assets, are reported at the
underlying audited GAAP equity of the investee.

Realized capital gains and losses are determined using the first-in first-out method.

Cash on hand includes cash equivalents. Cash equivalents are short-term investments
that are both readily convertible to cash and have an original maturity date of three
months or less.

Aggregate Reserve for Life Policies and Contracts

Life, annuity, and accident and health reserves are developed by actuarial methods and
are determined based on published tables using statutorily specified interest rates and
valuation methods that will provide, in the aggregate, reserves that are greater than or
equal to the minimum or guaranteed policy cash value or the amounts required by law.
Interest rates range from 2.3% to 11.3% .

The Company waives the deduction of deferred fractional premiums upon the death of
the insured. It is the Company's practice to return a pro rata portion of any premium paid
beyond the policy month of death, although it is not contractually required to do so for
certain issues.

The methods used in valuation of substandard policies are as follows:

For life, endowment and term policies issued substandard, the standard reserve during
the premium-paying period is increased by 50% of the gross annual extra premium.
Standard reserves are held on Paid-Up Limited Pay contracts.

For reinsurance accepted with table rating, the reserve established is a multiple of the
standard reserve corresponding to the table rating.

For reinsurance with flat extra premiums, the standard reserve is increased by 50% of
the flat extra.

15

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  The amount of insurance in force for which the gross premiums were less than the net
premiums, according to the standard of valuation required by the New York Insurance
Department, was $8.0 billion and $7.3 billion at December 31, 2006 and 2005,
respectively. The amount of premium deficiency reserves for policies on which gross
premiums are less than the net premiums was $69.7 and $51.8 at December 31, 2006 and
2005, respectively. The Company anticipates investment income as a factor in the
premium deficiency calculation, in accordance with Statement of Statutory Accounting
Principles (“SSAP”) No. 54, Individual and Group Accident and Health Contracts.

The tabular interest has been determined from the basic data for the calculation of policy
reserves for all direct ordinary life insurance and for the portion of group life insurance
classified as group Section 79. The tabular interest of funds not involving life
contingencies is calculated as the current year reserves, plus payments, less prior year
reserves, less funds added.

  Reinsurance

  Reinsurance premiums, commissions, expense reimbursements, and reserves related to
reinsured business are accounted for on bases consistent with those used in accounting
for the original policies issued and the terms of the reinsurance contracts. Reserves are
based on the terms of the reinsurance contract and are consistent with the risks assumed.
Premiums and benefits ceded to other companies have been reported as a reduction of
premium revenue and benefits expense. Amounts applicable to reinsurance ceded for
reserves and unpaid claim liabilities have been reported as reductions of these items, and
expense allowances received in connection with reinsurance ceded have been reflected in
operations.

  Electronic Data Processing Equipment

  Electronic data processing equipment is carried at cost less accumulated depreciation.
Depreciation for major classes of assets is calculated on a straight-line basis over the
estimated useful lives of the assets.

  Participating Insurance

  Participating business approximates less than 3.4% of the Company's ordinary life
insurance in force and 6.5% of premium income. The amount of dividends to be paid to
participating policyholders is determined annually by the Board of Directors. Amounts
allocable to participating policyholders are based on published dividend projections or
expected dividend scales. Dividends expense of $0.7, $0.7 and $0.6 was incurred in 2006,
2005 and 2004, respectively.

16

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
Notes to Financial Statements - Statutory Basis             
(Dollar amount in millions, unless otherwise stated)             
 
                   Nonadmitted Assets             
 
                   Nonadmitted assets are summarized as follows:             
 
        December 31 
        2006    2005 
        (In Thousands) 
                   Deferred federal income taxes    $ 55,691    $ 64,248 
                   Agents’ debit balances        1,819    1,870 
                   Deferred and uncollected premiums        1,625    918 
                   Other        962    1,116 
                   Total nonadmitted assets    $ 60,097    $ 68,152 

Changes in nonadmitted assets are generally reported directly in unassigned surplus as an
increase or decrease in nonadmitted assets.

  Claims and Claims Adjustment Expenses

  Claims expenses represent the estimated ultimate net cost of all reported and unreported
claims incurred through December 31, 2006. The Company does not discount claims and
claims adjustment expense reserves. Such estimates are based on actuarial projections
applied to historical claims payment data. Such liabilities are considered to be reasonable
and adequate to discharge the Company's obligations for claims incurred but unpaid as of
December 31, 2006.

  Guaranteed Benefits

  For the Guaranteed Minimum Death Benefits (“GMDB”), Actuarial Guideline 34
(“AG34”) is followed. All the methodology and assumptions (mortality and interest) are
contained in the guideline. AG34 interprets the standards for applying CARVM to
GMDBs in variable annuity contracts where GMDBs are integrated with other benefits
such as surrenders and annuitizations. This guideline requires that GMDBs be projected
assuming an immediate drop in the value of the assets supporting the variable annuity
contract, followed by a subsequent recovery at a Net Assumed Return. The immediate
drops and assumed returns used in the projections are provided in AG34 and vary by five
asset classes in order to reflect the risk/return differential inherent in each class. Contract
specific asset based charges are deducted to obtain the Net Assumed Returns. This
Guideline interprets mortality standards to be applied to projected GMDBs in the reserve
calculation. In addition, this Guideline clarifies standards for reinsurance transactions
involving GMDBs with the Integrated Benefit Streams modified to reflect both the
payment of future reinsurance premiums and the recovery of future reinsured death
benefits.

For the Guaranteed Minimum Income Benefits (“GMIB”), Actuarial Guideline 39
(“AG39”) is followed. AG39 has two parts, the minimum of which is accrued charges to
date for the inforce and the other involves an asset adequacy test which can produce

17

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  reserves in addition to the accrued charges. This asset adequacy test was performed at 85
CTE of the present value of net claim costs less the present value of fees. Present values
were taken at 4.5% . The equity scenarios used were generated using one blended fund
return and a simple lognormal Brownian motion process with 8.1% drift and 18.0%
volatility. Projections incorporated best estimate dynamic surrender and election
assumptions.

  Cash Flow Information

Cash and short-term investments include cash on hand, demand deposits and short-term
fixed maturity instruments with a maturity of less than one year at date of acquisition.

  Separate Accounts

  Most separate account assets and liabilities held by the Company represent funds held for
the benefit of the Company’s variable life and annuity policy and contract holders who
bear all of the investment risk associated with the policies. Such policies are of a non-
guaranteed nature. All net investment experience, positive or negative, is attributed to
the policy and contract holders’ account values. The assets and liabilities of these
accounts are carried at fair value.

Certain other separate accounts relate to experience-rated group annuity contracts that
fund defined contribution pension plans. These contracts provide guaranteed interest
returns for one year only, where the guaranteed interest rate is re-established each year
based on the investment experience of the separate account. In no event can the interest
rate be less than zero. The assets and liabilities of these separate accounts are carried at
book value.

Reserves related to the Company’s mortality risk associated with these policies are
included in life and annuity reserves. These reserves include reserves for guaranteed
minimum death benefits (before reinsurance) that totaled $4.1 and $5.1 at December 31,
2006 and 2005, respectively. The operations of the separate accounts are not included in
the accompanying statements of operations.

2. Permitted Statutory Basis Accounting Practices

  The financial statements of the Company are presented on the basis of accounting
practices prescribed or permitted by the New York Insurance Department. The New York
Insurance Department recognizes only statutory accounting practices prescribed or
permitted by the State of New York for determining and reporting the financial condition
and results of operations of an insurance company, and for determining its solvency
under the New York Insurance Laws. The NAIC Accounting Practices and Procedures
Manual has been adopted as a component of prescribed or permitted practices by the
State of New York. The New York Commissioner of Insurance has the right to permit
other specific practices that deviate from prescribed practices.

18

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  The Company is required to identify those significant accounting practices that are
permitted, and obtain written approval of the practices from the New York Insurance
Department. As of December 31, 2006 and 2005, the Company had no such permitted
accounting practices.

3. Investments

The amortized cost and fair value of bonds and equity securities are as follows:

    Gross    Gross     
Amortized    Unrealized    Unrealized    Fair 
Cost    Gains    Losses    Value 
(In Thousands)

  At December 31, 2006:

U.S. Treasury securities and                 
   obligations of U.S. government                 
   corporations and agencies    $ 52,774    $ 686    $ 343    $ 53,117 

States, municipalities,                 
   and political subdivisions    1,531    5    -    1,536 
Foreign government (par value - $8,587)    9,269    690    51    9,908 
Foreign other (par value - $189,604)    185,696    2,201    5,158    182,739 
Public utilities securities    55,393    957    560    55,790 
Corporate securities    650,802    10,348    10,032    651,118 
Residential-backed securities    363,050    238    6,061    357,227 
Commercial mortgage-backed securities    257,862    1,430    3,491    255,801 
Other asset-backed securities    128,093    270    1,015    127,348 
Total fixed maturities    1,704,470    16,825    26,711    1,694,584 
Preferred stocks    4,955    -    67    4,888 
Common stocks    351    290    -    641 
Total equity securities    5,306    290    67    5,529 
Total    $ 1,709,776    $ 17,115    $ 26,778    $ 1,700,113 

19

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
Notes to Financial Statements - Statutory Basis             
(Dollar amount in millions, unless otherwise stated)             
 
 
    Gross    Gross     
Amortized    Unrealized    Unrealized    Fair 
Cost    Gains    Losses    Value 
                   (In Thousands)     
                   At December 31, 2005:             

U.S. Treasury securities and                 
   obligations of U.S. government                 
   corporations and agencies    $ 39,667    $ 184    $ 239    $ 39,612 

States, municipalities,                 
   and political subdivisions    1,611    -    9    1,602 
Foreign government (par value - $8,031)    8,441    448    74    8,815 
Foreign other (par value - $206,012)    206,863    3,024    5,172    204,715 
Public utilities securities    71,300    2,026    690    72,636 
Corporate securities    697,152    13,579    10,222    700,509 
Residential-backed securities    399,679    2,134    6,832    394,981 
Commercial mortgage-backed securities    266,542    1,135    3,515    264,162 
Other asset-backed securities    35,376    399    478    35,297 
Total fixed maturities    1,726,631    22,929    27,231    1,722,329 
Preferred stocks    2,000    -    -    2,000 
Common stocks    298    224    -    522 
Total equity securities    2,298    224    -    2,522 
Total    $ 1,728,929    $ 23,153    $ 27,231    $ 1,724,851 

Reconciliation of bonds from amortized cost to carrying value is as follows:

    December 31 
    2006    2005 
    (In Thousands) 
Amortized cost    $ 1,704,470    $ 1,726,631 
Adjustments for below investment grade bonds    -    (310) 
Carrying value    $ 1,704,470    $ 1,726,321 

The aggregate fair values of debt securities with unrealized losses and the time period
that cost exceeded fair value are as follows:

        More than 6             
    Less than    months and less    More than     
    6 months    than 12 months        12 months     
December 31, 2006    below cost    below cost        below cost                   Total 
                                         (In Thousands)     
Fair value    $ 788,369    $ 155,529    $ 751,314    $ 1,695,212 
Unrealized loss    4,310    1,847        20,554                         26,711 

20

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

        More than 6             
    Less than    months and less    More than     
    6 months    than 12 months        12 months     
December 31, 2005    below cost    below cost        below cost                   Total 
                                         (In Thousands)     
Fair value    $ 545,481    $ 261,390    $ 254,123    $ 1,060,994 
Unrealized loss    10,768    6,613        9,850                         27,231 

  The amortized cost and fair value of investments in bonds at December 31, 2006, by
contractual maturity, are shown below. Expected maturities may differ from contractual
maturities because borrowers may have the right to call or prepay obligations with or
without call or prepayment penalties.

    Amortized                   Fair 
                   Cost                 Value 
    (In Thousands) 
Maturity:         
   Due in 1 year or less    $ 55,697    $ 55,421 
   Due after 1 year through 5 years    354,588    354,120 
   Due after 5 years through 10 years    289,873    286,012 
   Due after 10 years    255,307    258,655 
    955,465    954,208 
Residential-backed securities    363,050    357,227 
Commercial mortgage-backed securities    257,862    255,801 
Other asset-backed securities    128,093    127,348 
Total    $ 1,704,470    $ 1,694,584 

  At December 31, 2006 and 2005, investments in certificates of deposit and bonds with an
admitted asset value of $5.4 and $5.9 were on deposit with state insurance departments to
satisfy regulatory requirements.

At December 31, 2006 and 2005, the Company had loaned securities (which are reflected
as invested assets on the balance sheets) with a market value of approximately $27.5 and
$16.8, respectively.

Proceeds from the sales of investments in bonds and other fixed maturity interest
securities were $0.5 billion, $1.1 billion and $1.3 billion in 2006, 2005 and 2004,
respectively.

21

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

Realized capital losses are reported net of federal income taxes and amounts transferred
to the IMR as follows:

Realized capital (losses) gains

Amount transferred to IMR (net of related taxes of

$(2,764) in 2006, $1,513 in 2005 and $2,918 in 2004)

Federal income tax benefit (expense)

Net realized capital losses

    Year ended December 31     
2006    2005        2004 
    (In Thousands)         
$ (8,157)    $ 3,120    $ 6,579 
 
5,133    (2,809)        (5,418) 
2,213    (742)        (3,599) 
$ (811)    $ (431)    $ (2,438) 

Major categories of net investment income are summarized as follows:

        Year ended December 31     
    2006    2005        2004 
        (In Thousands)         
Income:                 
   Bonds    $ 93,961    $ 94,809    $ 95,051 
   Mortgage loans    12,662    15,294        16,093 
   Contract loans    6,755    6,341        7,014 
   Other    4,975    3,184        1,608 
Total investment income    118,353    119,628        119,766 
Investment expenses    (6,158)    (5,903)        (2,875) 
Net investment income    $ 112,195    $ 113,725    $ 116,891 

The Company entered into reverse dollar repurchase agreements to increase its return on
investments and improve liquidity. Reverse dollar repurchases involve a sale of
securities and an agreement to repurchase substantially the same securities as those sold.
The reverse dollar repurchases are accounted for as short-term collateralized financing
and the repurchase obligation is reported in borrowed money on the balance sheet. The
repurchase obligation totaled $71.1 and $97.7 at December 31, 2006 and 2005,
respectively. The securities underlying these agreements are mortgage-backed securities
with a book value of $72.8 and $101.8 and fair value of $70.4 and $98.4 at December 31,
2006 and 2005, respectively. The securities have a weighted average coupon rate of 5.3%
with various maturity dates ending in December 2036. The primary risk associated with
short-term collateralized borrowings is that the counterparty may be unable to perform
under the terms of the contract. The Company's exposure is limited to the excess of the
net replacement cost of the securities over the value of the short-term investments, which
was not material at December 31, 2006. The Company believes that the counterparties to
the reverse dollar repurchase agreements are financially responsible and that the
counterparty risk is minimal.

22

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  The maximum and minimum lending rates for long-term mortgage loans during 2006
were 6.2% and 6.2% . Fire insurance is required on all properties covered by mortgage
loans and must at least equal the excess of the loan over the maximum loan which would
be permitted by law on the land without the buildings.

The maximum percentage of any loan to the value of collateral at the time of the loan,
exclusive of insured or guaranteed or purchase money mortgages, was 55.8% on
commercial properties. As of December 31, 2006 and 2005, the Company held no
mortgages with interest more than 180 days overdue. The Company did not have an
allowance for credit losses, but recorded impairments of nil, $0.5 and $0.6 as of
December 31, 2006, 2005 and 2004, respectively. No interest was past due as of
December 31, 2006.

In the course of the Company’s asset management activities, securities are sold and
reacquired within 30 days of the sale date to enhance the Company’s return on its
investment portfolio or to manage interest rate risk. The impact of such sales were
immaterial to 2006 and 2005.

4. Derivative Financial Instruments Held for Purposes Other than Trading

  The Company utilizes derivatives such as options, futures and interest rates wraps to
reduce and manage risks, which include the risk of a change in the value, yield, price,
cash flows, exchange rates or quantity of, or a degree of exposure with respect to, assets,
liabilities, or future cash flows which the Company has acquired or incurred. Hedge
accounting practices are followed in accordance with requirements set forth in SSAP No.
86 for those derivatives that are deemed highly effective.

The Company uses options and futures to hedge against increases in market indices.
Derivatives that are designated as being in an effective hedging relationship are reported
in a manner that is consistent with the hedged asset or liability. All effective derivatives
are reported at amortized cost with the exception of S&P Options. S&P Options are
reported at fair value since they do not meet the hedge requirement of SSAP No. 86. The
unrealized gains or losses from S&P Options are reported as unrealized gain or loss in
surplus.

Premiums paid for the purchase of derivatives’ contracts are included in other invested
assets and are being amortized to interest expense over the remaining terms of the
contracts or in a manner consistent with the financial instruments being hedged.

Amounts paid or received, if any, from such contracts are included in interest expense or
income. Accrued amounts payable to or receivable from counterparties are included in
other liabilities or other invested assets. Gains or losses realized as a result of early
terminations of interest rate contracts are amortized to investment income over the
remaining term of the items being hedged to the extent the hedge is considered to be
effective; otherwise, they are recognized upon termination.

23

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  Derivative contracts that are matched or otherwise designated to be associated with other
financial instruments are recorded at fair value if the related financial instruments mature,
are sold, or are otherwise terminated or if the interest rate contracts cease to be effective
hedges. Changes in the fair value of derivatives not designated in effective hedging
relationships are recorded as unrealized gains and losses in surplus.

The Company is exposed to credit loss in the event of nonperformance by counterparties
on derivative contracts; however, the Company does not anticipate nonperformance by
any of these counterparties. The amount of such exposure is generally the unrealized
gains related to such contracts. The Company manages the potential credit exposure
from interest rate contracts through careful evaluation of the counterparties’ credit
standing, collateral agreements, and master netting agreements.

The table below summarizes the Company’s derivative contracts included in other
invested assets at December 31, 2006 and 2005:

        Notional    Carrying    Fair 
        Amount    Value    Value 
            (In Thousands)     
    December 31, 2006             
    Derivative contracts:             
    Options owned    $ 25,699    $ 952    $ 952 
    Futures owned    13,249                             (20)                             (20) 
    Total derivatives    $ 38,948    $ 932    $ 932 
 
    December 31, 2005             
    Derivative contracts:             
    Options owned    $ 24,323    $ 788    $ 788 
    Total derivatives    $ 24,323    $ 788    $ 788 
 
 
5.    Concentrations of Credit Risk             

  The Company held less than investment grade corporate bonds with an aggregate book
value of $41.4 and $58.4 and an aggregate market value of $42.2 and $58.9 at
December 31, 2006 and 2005, respectively. Those holdings amounted to 2.4% of the
Company's investments in bonds and 1.4% of total admitted assets at December 31, 2006.
The holdings of less-than-investment-grade bonds are widely diversified and of
satisfactory quality based on the Company's investment policies and credit standards.

The Company held unrated bonds of $18.9 and $29.5, with an aggregate NAIC market
value of $19.0 and $28.8 at December 31, 2006 and 2005, respectively. The carrying
value of these holdings amounted to 1.1% of the Company's investment in bonds and
0.6% of the Company's total admitted assets at December 31, 2006.

24

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  At December 31, 2006, the Company’s commercial mortgages involved a concentration
of properties located in California (26.1%) and Texas (14.9%) . The remaining
commercial mortgages relate to properties located in 24 other states. The portfolio is
well diversified, covering many different types of income-producing properties on which
the Company has first mortgage liens. The maximum mortgage outstanding on any
individual property is $7.6.

6. Annuity Reserves

  At December 31, 2006 and 2005, the Company's annuity reserves, including those held in
separate accounts and deposit fund liabilities that are subject to discretionary withdrawal
with adjustment, subject to discretionary withdrawal without adjustment, and not subject
to discretionary withdrawal provisions are summarized as follows:

    Amount    Percent     
    (In Thousands)         
December 31, 2006             
Subject to discretionary withdrawal (with adjustment):             
   With market value adjustment    $ 11,486    1.0    % 
   At book value less surrender charge    36,731    2.9     
   At fair value    794,599    63.5     
Subtotal    842,816    67.4     
Subject to discretionary withdrawal (without adjustment):             
   At book value with minimal or no charge or adjustment    362,959    29.0     
Not subject to discretionary withdrawal    45,612    3.6     
Total annuity reserves and deposit fund liabilities    $ 1,251,387    100.0    % 
 
December 31, 2005             
Subject to discretionary withdrawal (with adjustment):             
   With market value adjustment    $ 12,628    1.2    % 
   At book value less surrender charge    36,924    3.4     
   At fair value    592,384    55.0     
Subtotal    641,936    59.6     
Subject to discretionary withdrawal (without adjustment):             
   At book value with minimal or no charge or adjustment    387,505    36.0     
Not subject to discretionary withdrawal    47,496    4.4     
Total annuity reserves and deposit fund liabilities    $ 1,076,937    100.0    % 

  Of the total net annuity reserves and deposit fund liabilities of $1.3 billion at
December 31, 2006, $0.5 billion is included in the general account and $0.8 billion is
included in the separate account, respectively. Of the total net annuity reserves and
deposit fund liabilities of $1.1 billion at December 31, 2005, $0.5 billion is included in
the general account and $0.6 billion is included in the separate account, respectively.

25

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

7.      Employee Benefit Plan
 
  ING North America Insurance Corporation (“ING North America”) sponsors the ING Savings Plan and Employee Stock Ownership Plan (“ESOP”). Substantially all employees of ING North America and its subsidiaries and affiliates are eligible to participate, including the Company’s employees. The Company matching contribution charges allocated to the Company were $1.0, $0.9 and $0.7 during 2006, 2005 and 2004, respectively.
 
8.      Separate Accounts
 
  Separate account assets and liabilities represent funds segregated by the Company for the benefit of certain policy and contract holders who bear the investment risk. Revenues and expenses on the separate account assets and related liabilities equal the benefit paid or payable to the separate account policy and contract holders.
 
  The general nature and characteristics of the separate account business follows:
 
    Non-Indexed    Non-     
    Guarantee    Guaranteed     
    Less than/    Separate     
    equal to 4%    Accounts    Total 
        (In Thousands)     
December 31, 2006             
Premium, consideration or deposits for the year    $ -    $ 221,966    $ 221,966 
 
Reserves for separate accounts with assets at:             
   Fair value    $ -    $ 843,845    $ 843,845 
   Amortized cost    3,729    -    3,729 
Total reserves    $ 3,729    $ 843,845    $ 847,574 
 
Reserves for separate accounts by             
   withdrawal characteristics:             
   Subject to discretionary withdrawal:             
         With market value adjustment    $ 3,729    $ -    $ 3,729 
         At market value    -    841,724    841,724 
   Subtotal    3,729    841,724    845,453 
   Not subject to discretionary withdrawal    -    2,121    2,121 
Total separate account reserves    $ 3,729    $ 843,845    $ 847,574 

26

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
Notes to Financial Statements - Statutory Basis             
(Dollar amount in millions, unless otherwise stated)             
 
 
    Non-Indexed    Non-     
    Guarantee    Guaranteed     
    Less than/    Separate     
    equal to 4%    Accounts    Total 
        (In Thousands)     
                   December 31, 2005             
                   Premium, consideration or deposits for the year    $ -    $ 157,080    $ 157,080 
 
                   Reserves for separate accounts with assets at:             
                         Fair value    $ -    $ 635,943    $ 635,943 
                         Amortized cost    5,980    -    5,980 
                   Total reserves    $ 5,980    $ 635,943    $ 641,923 
 
                   Reserves for separate accounts by             
                         withdrawal characteristics:             
                         Subject to discretionary withdrawal:             
                               With market value adjustment    $ 5,980    $ -    $ 5,980 
                               At market value    -    633,643    633,643 
                         Subtotal    5,980    633,643    639,623 
                         Not subject to discretionary withdrawal    -    2,300    2,300 
                   Total separate account reserves    $ 5,980    $ 635,943    $ 641,923 
 
                   December 31, 2004             
                   Premium, consideration or deposits for the year    $ -    $ 6,385    $ 6,385 

A reconciliation of the amounts transferred to and from the separate accounts is presented
below:

        Year ended December 31     
                     2006    2005        2004 
        (In Thousands)         
Transfers as reported in the Summary of Operations                 
   of the Separate Accounts Statement:                 
         Transfers to separate accounts    $ 221,966    $ 157,448    $ 68,044 
         Transfers from separate accounts                     (96,653)    (86,534)        (80,285) 
Net transfers from separate accounts                     125,313    70,914        (12,241) 
Reconciling adjustments:                 
   Miscellaneous transfers                                   -    167        446 
Transfers as reported in the statements of operations    $ 125,313    $ 71,081    $ (11,795) 

27

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  The separate account liabilities subject to minimum guaranteed benefits, the gross
amount of reserve and the reinsurance reserve credit related to minimum guarantees, by
type, at December 31, 2006 and 2005 were as follows:

        Guaranteed     
        Minimum     
    Guaranteed    Accumulation/    Guaranteed 
    Minimum Death    Withdrawal Benefit    Minimum Income 
    Benefit (GMDB)    (GMAB/GMWB)    Benefit (GMIB) 
        (In Thousands)     
December 31, 2006             
Separate Account Liability    $ 524,952    $ 85,910    $ 197,247 
Gross amount of reserve    1,394    466    1,088 
Reinsurance reserve credit    371    -    - 
 
December 31, 2005             
Separate Account Liability    322,515    36,437    61,302 
Gross amount of reserve    1,384    90    773 
Reinsurance reserve credit    286    -    - 

  The aggregate fair value of equity securities, including mutual funds, supporting separate
accounts with additional insurance benefits and minimum investment return guarantees
as of December 31, 2006 and 2005, was $523.2 and $321.5, respectively.

9. Reinsurance

  The Company is involved in both ceded and assumed reinsurance with other companies
for the purpose of diversifying risk and limiting exposure on larger risks. To the extent
that the assuming companies become unable to meet their obligations under these
treaties, the Company remains contingently liable to its policyholders for the portion
reinsured. To minimize its exposure to significant losses from retrocessionaire
insolvencies, the Company evaluates the financial condition of the retrocessionaire and
monitors concentrations of credit risk.

Assumed premiums amounted to $7.1, $6.4 and $5.4 for the years ended December 31,
2006, 2005 and 2004, respectively.

The Company's ceded reinsurance arrangements reduced certain items in the
accompanying financial statements by the following amounts:

        Year ended December 31     
                     2006    2005    2004 
        (In Thousands)     
Premiums    $ 43,486    $ 52,296 $     60,571 
Benefits paid or provided                       46,703                           47,487     39,190 

28

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  Policy and contract liabilities were $163.3 and 146.6 at December 31, 2006 and 2005,
respectively.

The Company has been in dispute with National Travelers Life Company (“NTL”) over a
cancer block of business that was subject to two Modified Coinsurance Agreements
(“Agreements”) between the parties that ceded 95% of this insurance from the Company
to NTL. During 2004, this dispute was filed with an independent arbitration panel
(“Panel”).

During the third quarter of 2006, a settlement was reached with NTL to resolve all
outstanding issues with the exception of fees and expenses and the agreements were
commuted as of September 5, 2006. The Company recognized $21.2 in pretax income
related to this settlement in 2006.

The amount of reinsurance commuted during 2006 included benefits received of $45.0,
expense allowance adjustments of $13.0 and premiums of $36.7.

10. Federal Income Taxes

  Effective January 1, 2006, the Company files a consolidated federal income tax return
with its ultimate parent ING AIH, a Delaware corporation, and other U.S. affiliates. The
Company has a written tax sharing agreement that provides that each member of the
consolidated return shall reimburse ING AIH for its respective share of the consolidated
federal income tax liability and shall receive a benefit for its losses at the statutory rate.
A list of all affiliated companies that participate in the filing of this consolidated federal
income tax return has been provided to the Department of Insurance.

Current income taxes incurred consist of the following major components:

        Year ended December 31     
    2006    2005        2004 
        (In Thousands)         
Federal tax (benefit) expense on operations    $ (211)    $ 7,714    $ 21,382 
Federal tax (benefit) expense on capital gains (losses)    (2,213)    742        3,599 
Total current tax (benefit) expense incurred    $ (2,424)    $ 8,456    $ 24,981 

29

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

The main components of deferred tax assets and deferred tax liabilities are as follows:

    December 31     
    2006        2005 
    (In Thousands)     
Deferred tax assets resulting from book/tax differences in:             
   Deferred acquisition costs    $ 27,032    $ 25,728 
   Insurance reserves    44,026        40,625 
   Investments    1,354        816 
   Compensation    2,524        1,714 
   Nonadmitted assets    1,542        2,044 
   Unrealized loss on investments    -        189 
   Litigation accruals    2,668        4,602 
   Other    2,354        2,209 
Total deferred tax assets    81,500        77,927 
Deferred tax assets nonadmitted    (55,691)        (64,248) 
Admitted deferred tax assets    25,809        13,679 
 
Deferred tax liabilities resulting from book/tax differences in:             
   Investments    950        937 
   Deferred and uncollected premium    9,362        - 
   Unrealized gain on investments    1,372        - 
   Other    -        72 
Total deferred tax liabilities    11,684        1,009 
Net admitted deferred tax asset    $ 14,125    $ 12,670 

The change in net deferred income taxes is comprised of the following:

                             December 31     
    2006                 2005    Change 
        (In Thousands)     
Total deferred tax assets    $ 81,500    $ 77,927    $ 3,573 
Total deferred tax liabilities    (11,684)                 (1,009)    (10,675) 
Net deferred tax asset    $ 69,816    $ 76,918    (7,102) 
Less current year change in unrealized gains            1,560 
Change in net deferred income tax            (5,542) 
 
Less other items in surplus:             
   Current year change in nonadmitted assets            (196) 
Unrealized gains            697 
Change in deferred taxes for rate reconciliation            $ (5,041) 

30

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  The provision for federal income taxes incurred is different from that which would be
obtained by applying the statutory federal income tax rate to income (including capital
losses) before income taxes. The significant items causing this difference are:

        Year Ended December 31     
    2006    2005        2004 
        (In Thousands)         
Ordinary income    $ 18,480    $ 43,743    $ 42,395 
Capital (losses) gains    (3,024)    310        1,161 
Total pre-tax book income    $ 15,456    $ 44,053    $ 43,556 
 
Provision computed at statutory rate    $ 5,410    $ 15,419    $ 15,244 
Premium deficiency reserve    -    -        (4,736) 
Dividends received deduction    (658)    (630)        (61) 
Interest maintenance reserve    (2,361)    163        1,155 
Refinement of deferred tax balances    -    (23)        1,104 
Other    226    (866)        (20) 
Total    $ 2,617    $ 14,063    $ 12,686 
 
Federal income taxes incurred    $ (2,424)    $ 8,456    $ 24,981 
Change in net deferred income taxes    5,041    5,607        (12,295) 
Total statutory income taxes    $ 2,617    $ 14,063    $ 12,686 

  The amount of federal income taxes incurred that will be available for recoupment in the
event of future net losses is $0.2, $8.6 and $26.2 from 2006, 2005 and 2004, respectively.

Under the intercompany tax sharing agreement, the Company has a receivable from its
parent of $2.6 and a payable to its parent of $0.1 for federal income taxes as of
December 31, 2006 and 2005, respectively.

11. Capital and Surplus

  Under New York insurance regulations, the Company is required to maintain a minimum
total capital and surplus of $6.0. Without the approval of the Superintendent of the State
of New York, the company may not pay in any calendar year any dividend which, when
combined with other dividends paid within that calendar year, exceeds the lesser of 10%
of the Company’s statutory surplus at prior year end or 100% of the Company’s statutory
net gain from operations for the prior calendar year.

Life and health insurance companies are subject to certain Risk Based Capital ("RBC")
requirements as specified by the NAIC. Under those requirements, the amount of capital
and surplus maintained by a life and health insurance company is to be determined based
on the various risk factors related to it. At December 31, 2006, the Company meets the
RBC requirements.

31

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

12. Fair Values of Financial Instruments

  In cases where quoted market prices are not available, fair values are based on estimates
using present value or other valuation techniques. Those techniques are significantly
affected by the assumptions used, including the discount rate and estimates of future cash
flows. In that regard, the derived fair value estimates cannot be substantiated by
comparison to independent markets and, in many cases, could not be realized in
immediate settlement of the financial instrument. Accordingly, the aggregate fair value
amounts presented herein do not represent the underlying value of the Company.

Life insurance liabilities that contain mortality risk and all nonfinancial instruments have
been excluded from the disclosure requirements. However, the fair values of liabilities
under all insurance contracts are taken into consideration in the Company's overall
management of interest rate risk, such that the Company's exposure to changing interest
rates is minimized through the matching of investment maturities with amounts due
under insurance contracts.

The carrying amount and fair values of the Company’s financial instruments are
summarized as follows:

            December 31         
        2006            2005     
    Carrying           Fair    Carrying           Fair 
    Amount         Value    Amount         Value 
                         (In Thousands)         
Assets:                         
   Bonds    $ 1,704,470    $ 1,694,584    $ 1,726,321    $ 1,722,329 
   Preferred stocks    4,955        4,888    2,000        2,000 
   Unaffiliated common stocks    641        641    298        522 
   Mortgage loans    158,174        161,737    192,068        199,928 
   Derivatives securities    932        932    788        788 
   Contract loans    97,662        97,662    93,442        93,442 
   Cash, cash equivalents and                         
short-term investments    64,965        64,965    45,980        45,980 
   Separate account assets    876,248        876,248    661,578        661,578 
   Receivable for securities    3,456        3,456    3,212        3,212 
Liabilities:                         
   Policyholder funds    1,614        1,614    1,711        1,711 
   Separate account liabilities    873,631        873,631    659,078        659,078 

  The following methods and assumptions were used by the Company in estimating the fair
value disclosures for financial instruments in the accompanying financial statements and
notes thereto:

32

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  Cash and short-term investments: The carrying amounts reported in the
accompanying balance sheets for these financial instruments approximate their fair
values.

Bonds and equity securities: The fair values for bonds, preferred stocks and common
stocks reported herein are based on quoted market prices, where available. For
securities not actively traded, fair values are estimated using values obtained from
independent pricing services or, in the case of private placements, collateralized
mortgage obligations and other mortgage derivative investments, are estimated by
discounting the expected future cash flows. The discount rates used vary as a
function of factors such as yield, credit quality, and maturity, which fall within a
range between 3.0% and 9.1% over the total portfolio. Fair values determined on this
basis can differ from values published by the SVO. Fair value as determined by the
SVO as of December 31, 2006 and 2005 is $1.7 billion.

Mortgage loans: Estimated market values for commercial real estate loans were
generated using a discounted cash flow approach. Loans in good standing are
discounted using interest rates determined by U.S. Treasury yields on December 31
and spreads applied on new loans with similar characteristics. The amortizing
features of all loans are incorporated in the valuation. Where data on option features
is available, option values are determined using a binomial valuation method, and are
incorporated into the mortgage valuation. Restructured loans are valued in the same
manner; however, these loans were discounted at a greater spread to reflect increased
risk. All residential loans are valued at their outstanding principal balances, which
approximate their fair values.

Residual collateralized mortgage obligations: Residual collateralized mortgage
obligations are included in the other invested assets balance. Fair values are based on
independent pricing sources.

Derivative financial instruments: Fair values for on-balance-sheet derivative financial
instruments (caps, options and floors) and off-balance-sheet derivative financial
instruments (swaps and forwards) are based on broker/dealer valuations or on internal
discounted cash flow pricing models taking into account current cash flow
assumptions and the counterparties’ credit standing.

Other investment-type insurance contracts: The fair values of the Company's deferred
annuity contracts are estimated based on the cash surrender values. The carrying
values of deposit-type contracts, policyholder funds and policyholder dividends
approximate their fair values.

The carrying values of all other financial instruments approximate their fair values.

13. Commitments and Contingencies

  Investment Purchase Commitments

33

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  As part of its overall investment strategy, the Company has entered into agreements to
purchase securities of $19.6 and $9.5 at December 31, 2006 and 2005, respectively, in
partnerships reported in other invested assets on the balance sheets. The $19.6 includes
limited partnerships, private placements, and mortgages. In addition, these future
commitments are not on the balance sheet.

  Operating Leases

  The Company leases office space under various noncancelable operating lease
agreements that expire through April 2014. Rental expense was $0.2, $0.2 and $0.1 for
2006, 2005 and 2004, respectively.

At December 31, 2006, the minimum aggregate rental commitments under operating
leases for the upcoming five years and thereafter are as follows:

Year ending     
December 31             Commitments 
           (In Thousands) 
2007    $ 110 
2008    72 
2009    52 
2010    12 
2011    4 
Thereafter    10 

Certain rental commitments have renewal options extending through the year 2014
subject to adjustments in future periods.

  Legal Proceedings

  The Company is involved in threatened or pending lawsuits/arbitrations arising from the
normal conduct of business. Due to the climate in insurance and business
litigation/arbitrations, suits against the Company sometimes include claims for
substantial compensatory, consequential or punitive damages and other types of relief.
Moreover, certain claims are asserted as class actions, purporting to represent a group of
similarly situated individuals. While it is not possible to forecast the outcome of such
lawsuits/arbitrations, in light of existing insurance, reinsurance and established reserves,
it is the opinion of management that the disposition of such lawsuits/arbitrations will not
have a materially adverse effect on the Company's operations or financial position.

  Regulatory Matters

  As with many financial services companies, the Company and its affiliates have received
informal and formal requests for information from various state and federal governmental
agencies and self-regulatory organizations in connection with inquiries and investigations

34

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  of the products and practices of the financial services industry. In each case, the
Company and its affiliates have been and are providing full cooperation.

Insurance and Retirement Plan Products and Other Regulatory Matters

The New York Attorney General, other federal and state regulators and self-regulatory
agencies are also conducting broad inquiries and investigations involving the insurance
and retirement industries. These initiatives currently focus on, among other things,
compensation, revenue sharing, and other sales incentives; potential conflicts of interest;
potential anti-competitive activity; reinsurance; marketing practices; specific product
types (including group annuities and indexed annuities); and disclosure. It is likely that
the scope of these industry investigations will further broaden before they conclude. The
Company and certain of its U.S. affiliates have received formal and informal requests in
connection with such investigations, and are cooperating fully with each request for
information. Some of these matters could result in regulatory action involving the
Company. These initiatives may result in new legislation and regulation that could
significantly affect the financial services industry, including businesses in which the
Company is engaged. In light of these and other developments, U.S. affiliates of ING,
including the Company, periodically review whether modifications to their business
practices are appropriate.

  Investment Product Regulatory Issues

  Since 2002, there has been increased governmental and regulatory activity relating to
mutual funds and variable insurance products. This activity has primarily focused on
inappropriate trading of fund shares; directed brokerage; compensation; sales practices,
suitability, and supervision; arrangements with service providers; pricing; compliance
and controls; adequacy of disclosure; and document retention.

In addition to responding to governmental and regulatory requests on fund trading issues,
ING management, on its own initiative, conducted, through special counsel and a
national accounting firm, an extensive internal review of mutual fund trading in ING
insurance, retirement, and mutual fund products. The goal of this review was to identify
any instances of inappropriate trading in those products by third parties or by ING
investment professionals and other ING personnel.

The internal review identified several isolated arrangements allowing third parties to
engage in frequent trading of mutual funds within the variable insurance and mutual fund
products of certain affiliates of the Company, and identified other circumstances where
frequent trading occurred despite measures taken by ING intended to combat market
timing. Each of the arrangements has been terminated and disclosed to regulators, to the
independent trustees of ING Funds (U.S.) and in Company reports previously filed with
the Securities and Exchange Commission (“SEC”) pursuant to the Securities Exchange
Act of 1934, as amended.

Action may be taken by regulators with respect to certain ING affiliates before
investigations relating to fund trading are completed. The potential outcome of such

35

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  action is difficult to predict but could subject certain affiliates to adverse consequences,
including, but not limited to, settlement payments, penalties, and other financial liability.
It is not currently anticipated, however, that the actual outcome of any such action will
have a material adverse effect on ING or ING’s U.S. based operations, including the
Company.

ING has agreed to indemnify and hold harmless the ING Funds from all damages
resulting from wrongful conduct by ING or its employees or from ING’s internal
investigation, any investigations conducted by any governmental or self-regulatory
agencies, litigation or other formal proceedings, including any proceedings by the SEC.
Management reported to the ING Funds Board that ING management believes that the
total amount of any indemnification obligations will not be material to ING or ING’s
U.S.-based operations, including the Company.

14. Financing Arrangements

  The Company maintains a revolving loan agreement with Bank of New York ("BONY").
Under this agreement, the Company can borrow up to $30.0 from BONY. Interest on any
Company borrowing accrues at an annual rate equal to: (1) the cost of funds for BONY
for the period applicable for the advance plus 0.4% or (2) a rate quoted by BONY to the
Company for the borrowing. Under this agreement, the Company incurred minimal
interest expense for the years ended December 31, 2006, 2005 and 2004. At
December 31, 2006 and 2005, the Company had no amounts payable to BONY.

The Company maintains a line of credit agreement with Svenska Handelsbanken
(“Svenska”). Under this agreement, the Company can borrow up $30.0 from Svenska.
Borrowings are guaranteed by ING AIH, with maximum aggregate borrowings
outstanding at any time to ING AIH and its affiliates of $100.0. Under this agreement,
the Company incurred interest expense of $0 for the year ended December 31, 2006. At
December 31, 2006, the Company had no borrowings under this agreement. The
Company did not have this agreement in 2005 or 2004.

The Company maintains a line of credit agreement with PNC Bank. Under this
agreement, the Company can borrow up to $30.0. Borrowings are guaranteed by ING
AIH, with maximum aggregate borrowings outstanding at any time to ING AIH and its
affiliates of $75.0. Under this agreement, the Company incurred no interest expense for
the year ended December 31, 2006, 2005 and 2004, respectively. The Company had no
borrowings under this agreement at December 31, 2006 and 2005, respectively.

The Company borrowed $290.0 and repaid $290.0 in 2006, borrowed $530.2 and repaid
$530.2 in 2005, and borrowed $291.9 and repaid $289.6 in 2004. These borrowings were
on a short-term basis, at an interest rate that approximated current money market rates
and exclude borrowings from reverse dollar repurchase transactions. Interest paid on
borrowed money was immaterial during 2006, 2005 and 2004, respectively.

36

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

15.      Related Party Transactions
 
  Affiliates: Management and service contracts and all cost sharing arrangements with other affiliated ING U.S. life insurance companies are allocated among companies in accordance with normal, generally accepted expense and cost allocation methods.
 
  Assets and liabilities, and the related revenues and expenses recorded as a result of transactions and agreements with affiliates, may not be the same as those recorded if the Company was not a wholly owned subsidiary of its parent.
 
  Administrative Services Agreements: The Company has entered into services agreements with certain of its affiliated companies in the United States ("affiliated companies") whereby the affiliated companies provide certain administrative, management, professional, advisory, consulting and other services to the Company. Net fees charged under these agreements were $52.6, $39.6 and $34.7 for the years ended December 31, 2006, 2005 and 2004, respectively.
 
  Investment Management: The Company has entered into an investment advisory agreement with ING Investment Management, LLC ("IIM") under which IIM provides the Company with investment management services. Total fees under the agreement were approximately $2.6, $2.6 and $1.3 for the years ended December 31, 2006, 2005 and 2004, respectively.
 
  Reciprocal Loan Agreement: The Company maintains a reciprocal loan agreement with ING AIH to facilitate the handling of unusual and/or unanticipated short-term cash requirements. Under this agreement, the Company and ING AIH can borrow up to 5.0% of the Company’s net admitted assets as of December 31 of the preceding year from one another. Interest on any Company borrowing or on any ING AIH borrowing is charged at a rate based on the prevailing interest rate of U.S. commercial paper available for purchase with similar duration. Under this agreement, the Company incurred minimal interest expense and earned minimal interest income for the years ended December 31, 2006, 2005 and 2004, respectively. At December 31, 2006 and 2005, the Company had no amounts receivable from or payable to ING AIH.
 
  Tax Sharing Agreements: The Company has entered into a federal tax sharing agreement with members of an affiliated group as defined in Section 1504 of the Internal Revenue Code of 1986, as amended. The agreement provides for the manner of calculation and the amounts/timing of the payments between the parties as well as other related matters in connection with the filing of consolidated federal income tax returns. The Company has also entered into a state tax sharing agreement with ING AIH and each of the specific subsidiaries that are parties to the agreement. The state tax agreement applies to situations in which ING AIH and all or some of the subsidiaries join in the filing of a state or local franchise, income tax or other tax return on a consolidated, combined or unitary basis.
 
16.      Guaranty Fund Assessments
 

37

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
Notes to Financial Statements - Statutory Basis
(Dollar amount in millions, unless otherwise stated)

  Insurance companies are assessed the costs of funding the insolvencies of other insurance
companies by the various state guaranty associations, generally based on the amount of
premiums companies collected in that state. The Company accrues the cost of future
guaranty fund assessments based on estimates of insurance company insolvencies
provided by the National Organization of Life and Health Insurance Guaranty
Associations ("NOLHGA") and the amount of premiums written in each state. The
Company has recorded $0.1 and $0.3 for this liability as of December 31, 2006 and 2005,
respectively. The Company has also recorded an asset of $0.2 and $0.2 as of
December 31, 2006 and 2005, respectively, for future credits to premium taxes for
assessments already paid.

17.    Direct Premium Written/Produced by    Managing General Agents/Third Party 
    Administrators                 
 
    Name of Managing        Type of    Type of    Total Direct 
    General Agent or Third    Exclusive    Business    Authority    Premiums 
    Party Administrator    Contract    Written    Granted    Written 
                    (In Thousands) 
    ReliaStar Record Keeping    Yes    Group Annuity    Payment    $ 29,994 

The aggregate amount of premiums written through managing general agents or third
party administrators during 2006 is $31.8.

38

FINANCIAL STATEMENTS

ReliaStar Life Insurance Company of New York Separate Account NY-B

Year ended December 31, 2006 with Report of Independent Registered Public Accounting Firm

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RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Financial Statements Year ended December 31, 2006

Contents
 
Report of Independent Registered Public Accounting Firm    1 
 
Audited Financial Statements     
 
Statements of Assets and Liabilities    3 
Statements of Operations    26 
Statements of Changes in Net Assets    50 
Notes to Financial Statements    80 

This page intentionally left blank.

Report of Independent Registered Public Accounting Firm

The Board of Directors and Participants
ReliaStar Life Insurance Company of New York

We have audited the accompanying statements of assets and liabilities of the Divisions constituting ReliaStar Life Insurance Company of New York Separate Account NY-B (the “Account”) as of December 31, 2006, and the related statements of operations and changes in net assets for the periods disclosed in the financial statements. These financial statements are the responsibility of the Account’s management. Our responsibility is to express an opinion on these financial statements based on our audits. The Account is comprised of the following Divisions:

AIM Variable Insurance Funds:    ING Investors Trust (continued): 
   AIM V.I. Leisure Fund - Series I Shares       ING Lord Abbett Affiliated Portfolio - Service Class 
Fidelity® Variable Insurance Products:       ING MarketPro Portfolio - Service Class 
   Fidelity® VIP Equity-Income Portfolio - Service Class 2       ING Marsico Growth Portfolio - Service Class 
   Fidelity® VIP Growth Portfolio - Service Class 2       ING Marsico International Opportunities Portfolio - Service Class 
Fidelity Variable Insurance Products II:       ING MFS Total Return Portfolio - Service Class 
   Fidelity® VIP Contrafund® Portfolio - Service Class 2       ING MFS Utilities Portfolio - Service Class 
Franklin Templeton Variable Insurance Products Trusts:       ING Oppenheimer Main Street Portfolio® - Service Class 
   Mutual Shares Securities Fund - Class 2       ING PIMCO Core Bond Portfolio - Service Class 
ING Investors Trust:       ING PIMCO High Yield Portfolio - Service Class 
   ING AllianceBernstein Mid Cap Growth Portfolio - Service Class       ING Pioneer Fund Portfolio - Service Class 
   ING American Funds Growth Portfolio       ING Pioneer Mid Cap Value Portfolio - Service Class 
   ING American Funds Growth-Income Portfolio       ING T. Rowe Price Capital Appreciation Portfolio - Service Class 
   ING American Funds International Portfolio       ING T. Rowe Price Equity Income Portfolio - Service Class 
   ING BlackRock Large Cap Growth Portfolio - Service Class       ING Templeton Global Growth Portfolio - Service Class 
   ING BlackRock Large Cap Value Portfolio - Service Class       ING UBS U.S. Allocation Portfolio - Service Class 
   ING Capital Guardian Small/Mid Cap Portfolio - Service Class       ING Van Kampen Equity Growth Portfolio - Service Class 
   ING Capital Guardian U.S. Equities Portfolio - Service Class       ING Van Kampen Global Franchise Portfolio - Service Class 
   ING Eagle Asset Capital Appreciation Portfolio - Service Class       ING Van Kampen Growth and Income Portfolio - Service Class 
   ING Equities Plus Portfolio - Service Class       ING Van Kampen Real Estate Portfolio - Service Class 
   ING Evergreen Health Sciences Portfolio - Service Class       ING VP Index Plus International Equity Portfolio - Service Class 
   ING Evergreen Omega Portfolio - Service Class       ING Wells Fargo Mid Cap Disciplined Portfolio - Service Class 
   ING FMRSM Diversified Mid Cap Portfolio - Service Class       ING Wells Fargo Small Cap Disciplined Portfolio - Service Class 
   ING FMRSM Large Cap Growth Portfolio - Service Class    ING Partners, Inc.: 
   ING FMRSM Mid Cap Growth Portfolio - Service Class       ING Baron Small Cap Growth Portfolio - Service Class 
   ING Franklin Income Portfolio - Service Class       ING Columbia Small Cap Value II Portfolio - Service Class 
   ING Global Real Estate Portfolio - Service Class       ING Davis Venture Value Portfolio - Service Class 
   ING Global Resources Portfolio - Service Class       ING Fundamental Research Portfolio - Initial Class 
   ING Global Technology Portfolio - Service Class       ING Fundamental Research Portfolio - Service Class 
   ING International Portfolio - Service Class       ING JPMorgan International Portfolio - Service Class 
   ING Janus Contrarian Portfolio - Service Class       ING JPMorgan Mid Cap Value Portfolio - Service Class 
   ING JPMorgan Emerging Markets Equity Portfolio - Service Class       ING Legg Mason Partners Aggressive Growth 
   ING JPMorgan Small Cap Core Equity Portfolio - Service Class    Portfolio - Service Class 
   ING JPMorgan Value Opportunities Portfolio - Service Class       ING Neuberger Berman Partners Portfolio - Service Class 
   ING Julius Baer Foreign Portfolio - Service Class       ING Neuberger Berman Regency Portfolio - Service Class 
   ING Legg Mason Partners All Cap Portfolio - Service Class       ING Oppenheimer Global Portfolio - Initial Class 
   ING Legg Mason Value Portfolio - Service Class       ING Oppenheimer Global Portfolio - Service Class 
   ING LifeStyle Aggressive Growth Portfolio - Service Class       ING Templeton Foreign Equity Portfolio - Service Class 
   ING LifeStyle Growth Portfolio - Service Class       ING Thornburg Value Portfolio - Initial Class 
   ING LifeStyle Moderate Growth Portfolio - Service Class       ING UBS U.S. Large Cap Equity Portfolio - Service Class 
   ING LifeStyle Moderate Portfolio - Service Class       ING UBS U.S. Small Cap Growth Portfolio - Service Class 
   ING Limited Maturity Bond Portfolio - Service Class       ING Van Kampen Comstock Portfolio - Service Class 
   ING Liquid Assets Portfolio - Service Class       ING Van Kampen Equity and Income Portfolio - Service Class 

ING Variable Insurance Trust:    Legg Mason Partners Lifestyle Series, Inc.: 
   ING GET U.S. Core Portfolio - Series 1       Legg Mason Partners Variable Lifestyle Balanced Portfolio 
   ING GET U.S. Core Portfolio - Series 2       Legg Mason Partners Variable Lifestyle Growth Portfolio 
   ING GET U.S. Core Portfolio - Series 3       Legg Mason Partners Variable Lifestyle High Growth Portfolio 
   ING GET U.S. Core Portfolio - Series 4    Legg Mason Partners Variable Portfolios II: 
   ING GET U.S. Core Portfolio - Series 5       Legg Mason Partners Variable Appreciation Portfolio 
   ING GET U.S. Core Portfolio - Series 6    Legg Mason Partners Variable Portfolios III: 
   ING GET U.S. Core Portfolio - Series 7       Legg Mason Partners Variable High Income Portfolio 
   ING GET U.S. Core Portfolio - Series 8       Legg Mason Partners Variable International All Cap Growth 
   ING GET U.S. Core Portfolio - Series 9             Portfolio 
   ING GET U.S. Core Portfolio - Series 10       Legg Mason Partners Variable Large Cap Value Portfolio 
   ING GET U.S. Core Portfolio - Series 11       Legg Mason Partners Variable Money Market Portfolio 
   ING GET U.S. Core Portfolio - Series 12    Liberty Variable Insurance Trust: 
   ING GET U.S. Core Portfolio - Series 13       Colonial Small Cap Value Fund, Variable Series - Class B 
   ING VP Global Equity Dividend Portfolio    PIMCO Variable Insurance Trust: 
ING Variable Portfolios, Inc.:       PIMCO StocksPLUS® Growth and Income 
   ING VP Index Plus LargeCap Portfolio - Class S           Portfolio - Administrative Class 
   ING VP Index Plus MidCap Portfolio - Class S    Pioneer Variable Contracts Trust: 
   ING VP Index Plus SmallCap Portfolio - Class S       Pioneer Small Cap Value VCT Portfolio - Class II 
   ING VP Value Opportunity Portfolio - Class S       Pioneer Small Company VCT Portfolio - Class II 
ING Variable Products Trust:    ProFunds: 
   ING VP Convertible Portfolio - Class S       ProFund VP Bull 
   ING VP Financial Services Portfolio - Class S       ProFund VP Europe 30 
   ING VP MidCap Opportunities Portfolio - Class S       ProFund VP Rising Rates Opportunity 
   ING VP SmallCap Opportunities Portfolio - Class S       ProFund VP Small-Cap 
ING VP Balanced Portfolio, Inc.:    Putnam Variable Trust: 
   ING VP Balanced Portfolio - Class S       Putnam VT International Growth and Income 
ING VP Intermediate Bond Portfolio:    Fund - Class IB Shares 
   ING VP Intermediate Bond Portfolio - Class S     

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Account’s internal control over financial reporting. Our audits include consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Account’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of December 31, 2006, by correspondence with the transfer agents. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of each of the respective Divisions constituting ReliaStar Life Insurance Company of New York Separate Account NY-B at December 31, 2006, the results of their operations and changes in their net assets for the periods disclosed in the financial statements, in conformity with U.S. generally accepted accounting principles.

/s/ Ernst & Young LLP

Atlanta, Georgia
March 23, 2007

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

                    ING 
    AIM V.I.    Fidelity® VIP    Fidelity® VIP        AllianceBernstein 
    Leisure Fund    Equity-Income    Contrafund®    Mutual Shares    Mid Cap Growth 
    - Series I    Portfolio -    Portfolio -    Securities    Portfolio - Service 
    Shares    Service Class 2    Service Class 2    Fund - Class 2    Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 386    $ 5,025    $ 12,707    $ 1,020    $ 2,388 
Total assets    386    5,025    12,707    1,020    2,388 
 
Liabilities                     
Payable to related parties    -    1    2    -    - 
Total liabilities    -    1    2    -    - 
Net assets    $ 386    $ 5,024    $ 12,705    $ 1,020    $ 2,388 
 
Total number of mutual fund shares    27,897    194,256    408,444    49,820    140,997 
 
Cost of mutual fund shares    $ 343    $ 4,799    $ 12,334    $ 970    $ 2,452 

The accompanying notes are an integral part of these financial statements.

3

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

        ING        ING    ING 
    ING    American    ING    BlackRock    BlackRock 
    American    Funds    American    Large Cap    Large Cap 
    Funds    Growth-    Funds    Growth    Value 
    Growth    Income    International    Portfolio -    Portfolio - 
    Portfolio    Portfolio    Portfolio    Service Class Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 25,912    $ 19,833    $ 12,771    $ 522    $ 410 
Total assets    25,912    19,833    12,771    522    410 
 
Liabilities                     
Payable to related parties    4    3    2    -    - 
Total liabilities    4    3    2    -    - 
Net assets    $ 25,908    $ 19,830    $ 12,769    $ 522    $ 410 
 
Total number of mutual fund shares    403,048    451,779    566,082    45,195    29,523 
 
Cost of mutual fund shares    $ 23,362    $ 17,638    $ 10,754    $ 505    $ 383 

The accompanying notes are an integral part of these financial statements.

4

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING Capital            ING     
    Guardian    ING Capital        Evergreen    ING 
    Small/Mid    Guardian    ING    Health    Evergreen 
    Cap Portfolio U.S. Equities    EquitiesPlus    Sciences    Omega 
    - Service    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 2,207    $ 832    $ 165    $ 2,896    $ 82 
Total assets    2,207    832    165    2,896    82 
 
Liabilities                     
Payable to related parties    -    -    -    -    - 
Total liabilities    -    -    -    -    - 
Net assets    $ 2,207    $ 832    $ 165    $ 2,896    $ 82 
 
Total number of mutual fund shares    168,754    66,767    15,171    237,973    7,113 
 
Cost of mutual fund shares    $ 1,750    $ 758    $ 153    $ 2,604    $ 78 

The accompanying notes are an integral part of these financial statements.

5

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING FMRSM    ING FMRSM    ING FMRSM         
    Diversified    Large Cap    Mid Cap    ING Franklin    ING Global 
    Mid Cap    Growth    Growth    Income    Real Estate 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 5,133    $ 611    $ 3,037    $ 2,809    $ 2,017 
Total assets    5,133    611    3,037    2,809    2,017 
 
Liabilities                     
Payable to related parties    1    -    1    -    - 
Total liabilities    1    -    1    -    - 
Net assets    $ 5,132    $ 611    $ 3,036    $ 2,809    $ 2,017 
 
Total number of mutual fund shares    383,640    56,288    242,347    254,692    150,430 
 
Cost of mutual fund shares    $ 5,065    $ 602    $ 3,398    $ 2,664    $ 1,725 

The accompanying notes are an integral part of these financial statements.

6

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

                    ING 
                    JPMorgan 
                    Emerging 
    ING Global    ING Global    ING    ING Janus    Markets 
    Resources    Technology    International    Contrarian    Equity 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 3,099    $ 161    $ 268    $ 756    $ 5,656 
Total assets    3,099    161    268    756    5,656 
 
Liabilities                     
Payable to related parties    1    -    -    -    1 
Total liabilities    1    -    -    -    1 
Net assets    $ 3,098    $ 161    $ 268    $ 756    $ 5,655 
 
Total number of mutual fund shares    142,558    22,763    24,979    50,761    288,886 
 
Cost of mutual fund shares    $ 3,021    $ 160    $ 220    $ 663    $ 4,640 

The accompanying notes are an integral part of these financial statements.

7

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING    ING        ING Legg     
    JPMorgan    JPMorgan        Mason     
    Small Cap    Value    ING Julius    Partners All    ING Legg 
    Core Equity    Opportunities    Baer Foreign    Cap Portfolio    Mason Value 
    Portfolio -    Portfolio -    Portfolio -    - Service    Portfolio - 
    Service Class    Service Class    Service Class    Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 5,979    $ 1,677    $ 6,380    $ 2,440    $ 6,450 
Total assets    5,979    1,677    6,380    2,440    6,450 
 
Liabilities                     
Payable to related parties    1    -    1    -    1 
Total liabilities    1    -    1    -    1 
Net assets    $ 5,978    $ 1,677    $ 6,379    $ 2,440    $ 6,449 
 
Total number of mutual fund shares    420,150    132,123    378,171    157,831    572,856 
 
Cost of mutual fund shares    $ 5,524    $ 1,433    $ 5,368    $ 1,999    $ 5,881 

The accompanying notes are an integral part of these financial statements.

8

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING        ING         
    LifeStyle    ING    LifeStyle        ING Limited 
    Aggressive    LifeStyle    Moderate    ING LifeStyle    Maturity 
    Growth    Growth    Growth    Moderate    Bond 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 17,437    $ 34,978    $ 37,760    $ 14,588    $ 754 
Total assets    17,437    34,978    37,760    14,588    754 
 
Liabilities                     
Payable to related parties    3    5    5    2    - 
Total liabilities    3    5    5    2    - 
Net assets    $ 17,434    $ 34,973    $ 37,755    $ 14,586    $ 754 
 
Total number of mutual fund shares    1,238,447    2,600,584    2,949,971    1,180,229    70,255 
 
Cost of mutual fund shares    $ 15,614    $ 31,817    $ 34,674    $ 13,531    $ 807 

The accompanying notes are an integral part of these financial statements.

9

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

        ING Lord            ING Marsico 
    ING Liquid    Abbett    ING    ING Marsico    International 
    Assets    Affiliated    MarketPro    Growth    Opportunities 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 7,051    $ 459    $ 270    $ 7,185    $ 3,418 
Total assets    7,051    459    270    7,185    3,418 
 
Liabilities                     
Payable to related parties    1    -    -    1    1 
Total liabilities    1    -    -    1    1 
Net assets    $ 7,050    $ 459    $ 270    $ 7,184    $ 3,417 
 
Total number of mutual fund shares    7,050,899    36,236    23,821    433,356    223,694 
 
Cost of mutual fund shares    $ 7,051    $ 431    $ 260    $ 8,125    $ 2,718 

The accompanying notes are an integral part of these financial statements.

10

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

            ING         
    ING MFS    ING MFS    Oppenheimer    ING PIMCO    ING PIMCO 
    Total Return    Utilities    Main Street    Core Bond    High Yield 
    Portfolio -    Portfolio -    Portfolio® -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 10,546    $ 3,492    $ 5,445    $ 6,526    $ 4,332 
Total assets    10,546    3,492    5,445    6,526    4,332 
 
Liabilities                     
Payable to related parties    2    -    1    1    1 
Total liabilities    2    -    1    1    1 
Net assets    $ 10,544    $ 3,492    $ 5,444    $ 6,525    $ 4,331 
 
Total number of mutual fund shares    555,053    239,842    274,607    599,233    419,804 
 
Cost of mutual fund shares    $ 9,864    $ 2,946    $ 5,221    $ 6,462    $ 4,283 

The accompanying notes are an integral part of these financial statements.

11

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

                    ING 
        ING Pioneer    ING T. Rowe    ING T. Rowe    Templeton 
    ING Pioneer    Mid Cap    Price Capital    Price Equity    Global 
    Fund    Value    Appreciation    Income    Growth 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 130    $ 3,836    $ 10,171    $ 7,184    $ 3,772 
Total assets    130    3,836    10,171    7,184    3,772 
 
Liabilities                     
Payable to related parties    -    -    1    1    1 
Total liabilities    -    -    1    1    1 
Net assets    $ 130    $ 3,836    $ 10,170    $ 7,183    $ 3,771 
 
Total number of mutual fund shares    10,085    311,830    382,243    463,802    260,284 
 
Cost of mutual fund shares    $ 119    $ 3,501    $ 9,535    $ 6,414    $ 3,452 

The accompanying notes are an integral part of these financial statements.

12

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

        ING Van    ING Van    ING Van     
    ING UBS    Kampen    Kampen    Kampen    ING Van 
    U.S.    Equity    Global    Growth and    Kampen Real 
    Allocation    Growth    Franchise    Income    Estate 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 639    $ 414    $ 1,567    $ 2,443    $ 4,967 
Total assets    639    414    1,567    2,443    4,967 
 
Liabilities                     
Payable to related parties    -    -    -    -    1 
Total liabilities    -    -    -    -    1 
Net assets    $ 639    $ 414    $ 1,567    $ 2,443    $ 4,966 
 
Total number of mutual fund shares    58,240    34,885    98,450    86,419    127,725 
 
Cost of mutual fund shares    $ 563    $ 401    $ 1,455    $ 2,102    $ 4,245 

The accompanying notes are an integral part of these financial statements.

13

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING VP    ING Wells    ING Wells         
    Index Plus    Fargo Mid    Fargo Small    ING Baron    ING Columbia 
    International    Cap    Cap    Small Cap    Small Cap 
    Equity    Disciplined    Disciplined    Growth    Value II 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 412    $ 2,279    $ 338    $ 4,008    $ 865 
Total assets    412    2,279    338    4,008    865 
 
Liabilities                     
Payable to related parties    -    -    -    -    - 
Total liabilities    -    -    -    -    - 
Net assets    $ 412    $ 2,279    $ 338    $ 4,008    $ 865 
 
Total number of mutual fund shares    31,459    128,350    29,695    218,633    85,245 
 
Cost of mutual fund shares    $ 371    $ 2,072    $ 321    $ 3,665    $ 811 

The accompanying notes are an integral part of these financial statements.

14

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

                    ING 
        ING    ING    ING    JPMorgan 
    ING Davis    Fundamental    Fundamental    JPMorgan    Mid Cap 
    Venture Value    Research    Research    International    Value 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Initial Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
   at fair value    $ 2,440    $ 2,342    $ 5    $ 2,290    $ 983 
Total assets    2,440    2,342    5    2,290    983 
 
Liabilities                     
Payable to related parties    -    1    -    -    - 
Total liabilities    -    1    -    -    - 
Net assets    $ 2,440    $ 2,341    $ 5    $ 2,290    $ 983 
 
Total number of mutual fund shares    123,881    233,290    529    141,004    60,804 
 
Cost of mutual fund shares    $ 2,341    $ 2,259    $ 5    $ 1,976    $ 845 

The accompanying notes are an integral part of these financial statements.

15

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING Legg                 
    Mason    ING    ING         
    Partners    Neuberger    Neuberger    ING    ING 
    Aggressive    Berman    Berman    Oppenheimer Oppenheimer 
    Growth    Partners    Regency    Global    Global 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Initial Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 1,129    $ 817    $ 47    $ 265    $ 8,194 
Total assets    1,129    817    47    265    8,194 
 
Liabilities                     
Payable to related parties    -    -    -    -    1 
Total liabilities    -    -    -    -    1 
Net assets    $ 1,129    $ 817    $ 47    $ 265    $ 8,193 
 
Total number of mutual fund shares    23,280    74,978    4,371    15,879    502,375 
 
Cost of mutual fund shares    $ 1,014    $ 816    $ 45    $ 197    $ 7,192 

The accompanying notes are an integral part of these financial statements.

16

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING                 
    Templeton    ING    ING UBS    ING UBS    ING Van 
    Foreign    Thornburg    U.S. Large    U.S. Small    Kampen 
    Equity    Value    Cap Equity    Cap Growth    Comstock 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Initial Class    Service Class    Service Class    Service Class 
Assets                     
Investments in mutual funds                     
at fair value    $ 466    $ 12    $ 581    $ 7    $ 3,697 
Total assets    466    12    581    7    3,697 
 
Liabilities                     
Payable to related parties    -    -    -    -    1 
Total liabilities    -    -    -    -    1 
Net assets    $ 466    $ 12    $ 581    $ 7    $ 3,696 
 
Total number of mutual fund shares    38,820    365    55,605    716    277,983 
 
Cost of mutual fund shares    $ 422    $ 9    $ 494    $ 6    $ 3,369 

The accompanying notes are an integral part of these financial statements.

17

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING Van                 
    Kampen                 
    Equity and    ING GET    ING GET    ING GET    ING GET 
    Income    U.S. Core    U.S. Core    U.S. Core    U.S. Core 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Series 1    Series 2    Series 3    Series 4 
Assets                     
Investments in mutual funds                     
at fair value    $ 542    $ 3,543    $ 5,521    $ 3,016    $ 3,272 
Total assets    542    3,543    5,521    3,016    3,272 
 
Liabilities                     
Payable to related parties    -    1    1    1    1 
Total liabilities    -    1    1    1    1 
Net assets    $ 542    $ 3,542    $ 5,520    $ 3,015    $ 3,271 
 
Total number of mutual fund shares    14,182    340,717    537,632    291,725    304,929 
 
Cost of mutual fund shares    $ 507    $ 3,404    $ 5,368    $ 2,903    $ 3,056 

The accompanying notes are an integral part of these financial statements.

18

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING GET    ING GET    ING GET    ING GET    ING GET 
    U.S. Core    U.S. Core    U.S. Core    U.S. Core    U.S. Core 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Series 5    Series 6    Series 7    Series 8    Series 9 
Assets                     
Investments in mutual funds                     
at fair value    $ 3,886    $ 1,862    $ 3,583    $ 680    $ 381 
Total assets    3,886    1,862    3,583    680    381 
 
Liabilities                     
Payable to related parties    1    -    1    -    - 
Total liabilities    1    -    1    -    - 
Net assets    $ 3,885    $ 1,862    $ 3,582    $ 680    $ 381 
 
Total number of mutual fund shares    352,953    168,029    325,438    61,482    34,892 
 
Cost of mutual fund shares    $ 3,539    $ 1,686    $ 3,267    $ 619    $ 351 

The accompanying notes are an integral part of these financial statements.

19

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING GET    ING GET    ING GET    ING GET    ING VP 
    U.S. Core    U.S. Core    U.S. Core    U.S. Core    Global Equity 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Dividend 
    Series 10    Series 11    Series 12    Series 13    Portfolio 
Assets                     
Investments in mutual funds                     
at fair value    $ 997    $ 5,357    $ 1,171    $ 9,556    $ 376 
Total assets    997    5,357    1,171    9,556    376 
 
Liabilities                     
Payable to related parties    -    1    -    2    - 
Total liabilities    -    1    -    2    - 
Net assets    $ 997    $ 5,356    $ 1,171    $ 9,554    $ 376 
 
Total number of mutual fund shares    91,413    496,474    103,121    940,566    40,077 
 
Cost of mutual fund shares    $ 921    $ 5,013    $ 1,043    $ 9,583    $ 302 

The accompanying notes are an integral part of these financial statements.

20

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ING VP    ING VP    ING VP    ING VP    ING VP 
    Index Plus    Index Plus    Index Plus    Value    Financial 
    LargeCap    MidCap    SmallCap    Opportunity    Services 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Class S    Class S    Class S    Class S    Class S 
Assets                     
Investments in mutual funds                     
at fair value    $ 4,052    $ 5,949    $ 5,396    $ 158    $ 1,067 
Total assets    4,052    5,949    5,396    158    1,067 
 
Liabilities                     
Payable to related parties    1    1    1    -    - 
Total liabilities    1    1    1    -    - 
Net assets    $ 4,051    $ 5,948    $ 5,395    $ 158    $ 1,067 
 
Total number of mutual fund shares    233,971    318,315    303,302    10,066    80,021 
 
Cost of mutual fund shares    $ 3,569    $ 5,735    $ 5,015    $ 136    $ 1,003 

The accompanying notes are an integral part of these financial statements.

21

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

                    Legg Mason 
    ING VP    ING VP        ING VP    Partners 
    MidCap    SmallCap    ING VP    Intermediate    Variable 
    Opportunities    Opportunities    Balanced    Bond    Lifestyle 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Balanced 
    Class S    Class S    Class S    Class S    Portfolio 
Assets                     
Investments in mutual funds                     
   at fair value    $ 45    $ 534    $ 323    $ 3,858    $ 2,546 
Total assets    45    534    323    3,858    2,546 
 
Liabilities                     
Payable to related parties    -    -    -    -    1 
Total liabilities    -    -    -    -    1 
Net assets    $ 45    $ 534    $ 323    $ 3,858    $ 2,545 
 
Total number of mutual fund shares    5,649    27,030    22,166    299,316    203,324 
 
Cost of mutual fund shares    $ 36    $ 486    $ 306    $ 3,900    $ 2,328 

The accompanying notes are an integral part of these financial statements.

22

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

                Legg Mason     
    Legg Mason    Legg Mason        Partners    Legg Mason 
    Partners    Partners    Legg Mason    Variable    Partners 
    Variable    Variable    Partners    International    Variable 
    Lifestyle    Lifestyle High    Variable High    All Cap    Large Cap 
    Growth    Growth    Income    Growth    Value 
    Portfolio    Portfolio    Portfolio    Portfolio    Portfolio 
Assets                     
Investments in mutual funds                     
at fair value    $ 975    $ 447    $ 217    $ 219    $ 663 
Total assets    975    447    217    219    663 
 
Liabilities                     
Payable to related parties    1    -    -    -    - 
Total liabilities    1    -    -    -    - 
Net assets    $ 974    $ 447    $ 217    $ 219    $ 663 
 
Total number of mutual fund shares    85,068    31,557    29,643    12,673    30,526 
 
Cost of mutual fund shares    $ 885    $ 407    $ 214    $ 244    $ 552 

The accompanying notes are an integral part of these financial statements.

23

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    Legg Mason    Colonial             
    Partners    Small Cap    Pioneer         
    Variable    Value Fund,    Small Cap         
    Money    Variable    Value VCT         
    Market    Series - Class    Portfolio -    ProFund VP    ProFund VP 
    Portfolio    B    Class II    Bull    Europe 30 
Assets                     
Investments in mutual funds                     
at fair value    $ 188    $ 1,397    $ 205    $ 101    $ 132 
Total assets    188    1,397    205    101    132 
 
Liabilities                     
Payable to related parties    -    -    -    -    - 
Total liabilities    -    -    -    -    - 
Net assets    $ 188    $ 1,397    $ 205    $ 101    $ 132 
 
Total number of mutual fund shares    187,588    67,783    11,532    3,336    4,131 
 
Cost of mutual fund shares    $ 188    $ 1,244    $ 195    $ 94    $ 118 

The accompanying notes are an integral part of these financial statements.

24

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Statements of Assets and Liabilities December 31, 2006

(Dollars in thousands)

    ProFund VP     
    Rising Rates    ProFund VP 
    Opportunity    Small-Cap 
Assets         
Investments in mutual funds         
   at fair value    $ 495    $ 309 
Total assets    495    309 
 
Liabilities         
Payable to related parties    -    - 
Total liabilities    -    - 
Net assets    $ 495    $ 309 
 
Total number of mutual fund shares    23,910    8,299 
 
Cost of mutual fund shares    $ 485    $ 286 

The accompanying notes are an integral part of these financial statements.

25

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

        Fidelity® VIP             
        Equity-    Fidelity® VIP    Fidelity® VIP     
    AIM V.I.    Income    Growth    Contrafund®    Mutual 
    Leisure Fund    Portfolio -    Portfolio -    Portfolio -    Shares 
    - Series I    Service Class    Service Class    Service Class    Securities 
    Shares    2    2    2    Fund - Class 2 
Net investment income (loss)                     
Income:                     
   Dividends    $ 4    $ 116    $ 2    $ 95    $ 1 
Total investment income    4    116    2    95    1 
Expenses:                     
   Mortality, expense risk                     
and other charges    6    58    4    139    3 
   Annual administrative charges    -    -    -    2    - 
   Contingent deferred sales charges    -    4    1    2    - 
   Other contract charges    1    5    -    27    1 
Total expenses    7    67    5    170    4 
Net investment income (loss)    (3)    49    (3)    (75)    (3) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    6    55    174    100    - 
Capital gains distributions    20    496    -    949    3 
Total realized gain (loss) on investments                     
   and capital gains distributions    26    551    174    1,049    3 
Net unrealized appreciation                     
   (depreciation) of investments    49    38    (131)    (137)    50 
Net realized and unrealized gain (loss)                     
   on investments    75    589    43    912    53 
Net increase (decrease) in net assets                     
   resulting from operations    $ 72    $ 638    $ 40    $ 837    $ 50 

The accompanying notes are an integral part of these financial statements.

26

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

            ING        ING 
    ING    ING    American    ING    BlackRock 
    AllianceBernstein    American    Funds    American    Large Cap 
    Mid Cap Growth    Funds    Growth-    Funds    Growth 
    Portfolio - Service    Growth    Income    International    Portfolio - 
    Class    Portfolio    Portfolio    Portfolio    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ 31    $ 98    $ 62    $ - 
Total investment income    -    31    98    62    - 
Expenses:                     
   Mortality, expense risk                     
and other charges    28    282    225    139    6 
   Annual administrative charges    -    2    2    1    - 
   Contingent deferred sales charges    -    2    2    1    - 
   Other contract charges    6    85    71    43    2 
Total expenses    34    371    300    184    8 
Net investment income (loss)    (34)    (340)    (202)    (122)    (8) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    194    291    151    191    1 
Capital gains distributions    247    21    49    18    33 
Total realized gain (loss) on investments                     
   and capital gains distributions    441    312    200    209    34 
Net unrealized appreciation                     
   (depreciation) of investments    (397)    1,456    1,736    1,244    1 
Net realized and unrealized gain (loss)                     
   on investments    44    1,768    1,936    1,453    35 
Net increase (decrease) in net assets                     
   resulting from operations    $ 10    $ 1,428    $ 1,734    $ 1,331    $ 27 

The accompanying notes are an integral part of these financial statements.

27

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

    ING        ING Capital             
    BlackRock    Guardian    ING Capital    ING Eagle     
    Large Cap    Small/Mid    Guardian    Asset Capital     
    Value        Cap Portfolio U.S. Equities Appreciation    ING EquitiesPlus 
    Portfolio -    - Service    Portfolio -    Portfolio -    Portfolio - Service 
    Service Class    Class    Service Class Service Class    Class 
Net investment income (loss)                         
Income:                         
   Dividends    $ 2    $ 10    $ 3    $ 15    $ - 
Total investment income        2    10    3    15    - 
Expenses:                         
   Mortality, expense risk                         
and other charges        4    33    11    10    1 
   Annual administrative charges        -    1    -    -    - 
   Contingent deferred sales charges        -    -    -    -    - 
   Other contract charges        1    2    1    2    - 
Total expenses        5    36    12    12    1 
Net investment income (loss)        (3)    (26)    (9)    3    (1) 
 
Realized and unrealized gain (loss)                         
   on investments                         
Net realized gain (loss) on investments        7    68    51    22    2 
Capital gains distributions        7    -    49    105    - 
Total realized gain (loss) on investments                         
   and capital gains distributions        14    68    100    127    2 
Net unrealized appreciation                         
   (depreciation) of investments        22    188    (30)    (34)    12 
Net realized and unrealized gain (loss)                         
   on investments        36    256    70    93    14 
Net increase (decrease) in net assets                         
   resulting from operations    $ 33    $ 230    $ 61    $ 96    $ 13 

The accompanying notes are an integral part of these financial statements.

28

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

    ING                 
    Evergreen    ING    ING FMRSM    ING FMRSM    ING FMRSM 
    Health    Evergreen    Diversified    Large Cap    Mid Cap 
    Sciences    Omega    Mid Cap    Growth    Growth 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ -    $ -    $ -    $ - 
Total investment income    -                             -    -                             -    - 
Expenses:                     
   Mortality, expense risk                     
and other charges    31                             2    62                             7    32 
   Annual administrative charges    -                             -    -    -    1 
   Contingent deferred sales charges    -                             -    -    -    - 
   Other contract charges    10                             -    20                             -    1 
Total expenses    41                             2    82                             7    34 
Net investment income (loss)    (41)    (2)    (82)    (7)    (34) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    62                             7    15                           5    (180) 
Capital gains distributions    1                             -    368                             -    - 
Total realized gain (loss) on investments                     
   and capital gains distributions    63                             7    383    5    (180) 
Net unrealized appreciation                     
   (depreciation) of investments    246                             2    (5)    (1)    319 
Net realized and unrealized gain (loss)                     
   on investments    309                             9    378    4    139 
Net increase (decrease) in net assets                     
   resulting from operations    $ 268    $ 7    $ 296    $ (3)    $ 105 

The accompanying notes are an integral part of these financial statements.

29

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

    ING Franklin    ING Global    ING Global    ING Global    ING 
    Income    Real Estate    Resources    Technology    International 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ 35    $ 3    $ -    $ 4 
Total investment income    -    35    3    -    4 
Expenses:                     
   Mortality, expense risk                     
and other charges    12    15    27    3    3 
   Annual administrative charges    -    -    -    -    - 
   Contingent deferred sales charges    -    -    -    -    - 
   Other contract charges    3    5    8    1    - 
Total expenses    15    20    35    4    3 
Net investment income (loss)    (15)    15    (32)    (4)    1 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    2    2    68    7    1 
Capital gains distributions    -    15    199    14    33 
Total realized gain (loss) on investments                     
   and capital gains distributions    2    17    267    21    34 
Net unrealized appreciation                     
   (depreciation) of investments    145    292    19    2    10 
Net realized and unrealized gain (loss)                     
   on investments    147    309    286    23    44 
Net increase (decrease) in net assets                     
   resulting from operations    $ 132    $ 324    $ 254    $ 19    $ 45 

The accompanying notes are an integral part of these financial statements.

30

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

        ING             
        JPMorgan    ING    ING     
        Emerging    JPMorgan    JPMorgan     
    ING Janus    Markets    Small Cap    Value    ING Julius 
    Contrarian    Equity    Core Equity    Opportunities Baer Foreign 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ 2    $ 17    $ -    $ 5    $ - 
Total investment income    2    17    -    5    - 
Expenses:                     
   Mortality, expense risk                     
and other charges    6    54    71    22    60 
   Annual administrative charges    -    1    1    -    - 
   Contingent deferred sales charges    -    -    -    -    - 
   Other contract charges    2    16    23    4    19 
Total expenses    8    71    95    26    79 
Net investment income (loss)    (6)    (54)    (95)    (21)    (79) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    26    293    78    59    71 
Capital gains distributions    18    39    109    16    - 
Total realized gain (loss) on investments                     
   and capital gains distributions    44    332    187    75    71 
Net unrealized appreciation                     
   (depreciation) of investments    52    757    457    203    962 
Net realized and unrealized gain (loss)                     
   on investments    96    1,089    644    278    1,033 
Net increase (decrease) in net assets                     
   resulting from operations    $ 90    $ 1,035    $ 549    $ 257    $ 954 

The accompanying notes are an integral part of these financial statements.

31

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

    ING Legg                 
    Mason        ING LifeStyle        ING LifeStyle 
    Partners All    ING Legg    Aggressive    ING LifeStyle    Moderate 
    Cap Portfolio    Mason Value    Growth    Growth    Growth 
    - Service    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ 12    $ -    $ 15    $ 107    $ 211 
Total investment income    12    -    15    107    211 
Expenses:                     
   Mortality, expense risk                     
and other charges    25    75    155    334    366 
   Annual administrative charges    -    -    2    3    3 
   Contingent deferred sales charges    -    -    9    1    18 
   Other contract charges    3    21    55    113    99 
Total expenses    28    96    221    451    486 
Net investment income (loss)    (16)    (96)    (206)    (344)    (275) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    47    104    71    72    77 
Capital gains distributions    11    17    237    412    394 
Total realized gain (loss) on investments                     
   and capital gains distributions    58    121    308    484    471 
Net unrealized appreciation                     
   (depreciation) of investments    237    348    1,574    2,669    2,575 
Net realized and unrealized gain (loss)                     
   on investments    295    469    1,882    3,153    3,046 
Net increase (decrease) in net assets                     
   resulting from operations    $ 279    $ 373    $ 1,676    $ 2,809    $ 2,771 

The accompanying notes are an integral part of these financial statements.

32

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

        ING Limited        ING Lord     
    ING LifeStyle    Maturity    ING Liquid    Abbett    ING 
    Moderate    Bond    Assets    Affiliated    MarketPro 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ 112    $ 28    $ 242    $ 3    $ - 
Total investment income    112    28    242    3                           - 
Expenses:                     
   Mortality, expense risk                     
and other charges    150    11    82    5                           1 
   Annual administrative charges    1    -    3    -                           - 
   Contingent deferred sales charges    2    -    161    -                           - 
   Other contract charges    38    -    20    1                           - 
Total expenses    191    11    266    6                           1 
Net investment income (loss)    (79)    17    (24)    (3)    (1) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    50    (15)    -    8                           - 
Capital gains distributions    175    -    -    29                           - 
Total realized gain (loss) on investments                     
   and capital gains distributions    225    (15)    -    37                           - 
Net unrealized appreciation                     
   (depreciation) of investments    832    17    -    13    10 
Net realized and unrealized gain (loss)                     
   on investments    1,057    2    -    50                         10 
Net increase (decrease) in net assets                     
   resulting from operations    $ 978    $ 19    $ (24)    $ 47    $ 9 

The accompanying notes are an integral part of these financial statements.

33

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

        ING Marsico            ING 
    ING Marsico    International    ING MFS    ING MFS    Oppenheimer 
    Growth    Opportunities    Total Return    Utilities    Main Street 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio® - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ 1    $ 220    $ 2    $ 49 
Total investment income    -    1    220    2    49 
Expenses:                     
   Mortality, expense risk                     
and other charges    96    45    145    29    67 
   Annual administrative charges    2    -    2    -    2 
   Contingent deferred sales charges    1    1    1    -    2 
   Other contract charges    10    13    24    8    5 
Total expenses    109    59    172    37    76 
Net investment income (loss)    (109)    (58)    48    (35)    (27) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    (1,066)    62    135    30    (166) 
Capital gains distributions    -    8    422    10    - 
Total realized gain (loss) on investments                     
   and capital gains distributions    (1,066)    70    557    40    (166) 
Net unrealized appreciation                     
   (depreciation) of investments    1,393    535    310    557    725 
Net realized and unrealized gain (loss)                     
   on investments    327    605    867    597    559 
Net increase (decrease) in net assets                     
   resulting from operations    $ 218    $ 547    $ 915    $ 562    $ 532 

The accompanying notes are an integral part of these financial statements.

34

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

                ING Pioneer    ING T. Rowe 
    ING PIMCO    ING PIMCO    ING Pioneer    Mid Cap    Price Capital 
    Core Bond    High Yield    Fund    Value    Appreciation 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ 131    $ 213    $ -    $ 5    $ 75 
Total investment income    131    213    -    5    75 
Expenses:                     
   Mortality, expense risk                     
and other charges    79    50    1    38    94 
   Annual administrative charges    1    -    -    -    1 
   Contingent deferred sales charges    -    -    -    -    - 
   Other contract charges    19    10    -    10    23 
Total expenses    99    60    1    48    118 
Net investment income (loss)    32    153    (1)    (43)    (43) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    (9)    6    5    31    110 
Capital gains distributions    -    28    -    7    379 
Total realized gain (loss) on investments                     
   and capital gains distributions    (9)    34    5    38    489 
Net unrealized appreciation                     
   (depreciation) of investments    121    49    9    302    396 
Net realized and unrealized gain (loss)                     
   on investments    112    83    14    340    885 
Net increase (decrease) in net assets                     
   resulting from operations    $ 144    $ 236    $ 13    $ 297    $ 842 

The accompanying notes are an integral part of these financial statements.

35

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

        ING        ING Van    ING Van 
    ING T. Rowe    Templeton        Kampen    Kampen 
    Price Equity    Global    ING UBS U.S.    Equity    Global 
    Income    Growth    Allocation    Growth    Franchise 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ 73    $ 21    $ 9    $ -    $ 14 
Total investment income    73    21    9    -    14 
Expenses:                     
   Mortality, expense risk                     
and other charges    87    32    10    4    14 
   Annual administrative charges    1    -    -    -    - 
   Contingent deferred sales charges    -    -    -    -    - 
   Other contract charges    20    5    1    1    5 
Total expenses    108    37    11    5    19 
Net investment income (loss)    (35)    (16)    (2)    (5)    (5) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    168    (64)    17    8    29 
Capital gains distributions    228    255    -    8    29 
Total realized gain (loss) on investments                     
   and capital gains distributions    396    191    17    16    58 
Net unrealized appreciation                     
   (depreciation) of investments    549    289    38    1    98 
Net realized and unrealized gain (loss)                     
   on investments    945    480    55    17    156 
Net increase (decrease) in net assets                     
   resulting from operations    $ 910    $ 464    $ 53    $ 12    $ 151 

The accompanying notes are an integral part of these financial statements.

36

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

    ING Van        ING VP Index    ING Wells    ING Wells 
    Kampen    ING Van    Plus    Fargo Mid    Fargo Small 
    Growth and    Kampen Real International    Cap    Cap 
    Income    Estate    Equity    Disciplined    Disciplined 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ 26    $ 39    $ 4    $ 8    $ 1 
Total investment income    26    39    4    8    1 
Expenses:                     
   Mortality, expense risk                     
and other charges    33    54    3    20    2 
   Annual administrative charges    1    1    -    -    - 
   Contingent deferred sales charges    -    -    -    -    - 
   Other contract charges    3    14    1    3    1 
Total expenses    37    69    4    23    3 
Net investment income (loss)    (11)    (30)    -    (15)    (2) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    48    245    -    (18)    2 
Capital gains distributions    193    241    8    -    6 
Total realized gain (loss) on investments                     
   and capital gains distributions    241    486    8    (18)    8 
Net unrealized appreciation                     
   (depreciation) of investments    94    523    41    248    17 
Net realized and unrealized gain (loss)                     
   on investments    335    1,009    49    230    25 
Net increase (decrease) in net assets                     
   resulting from operations    $ 324    $ 979    $ 49    $ 215    $ 23 

The accompanying notes are an integral part of these financial statements.

37

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

        ING             
    ING Baron    Columbia    ING Davis    ING    ING 
    Small Cap    Small Cap    Venture    Fundamental Fundamental 
    Growth    Value II    Value    Research    Research 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Initial Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ -    $ -    $ 7    $ - 
Total investment income    -    -    -    7                             - 
Expenses:                     
   Mortality, expense risk                     
and other charges    35    4    12    22                             - 
   Annual administrative charges    -    -    -    2                             - 
   Contingent deferred sales charges    -    -    -    -                             - 
   Other contract charges    11    1    3    -                             - 
Total expenses    46    5    15    24                             - 
Net investment income (loss)    (46)    (5)    (15)    (17)                             - 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    35    (1)    8    (26)                             1 
Capital gains distributions    22    -    50    38                             - 
Total realized gain (loss) on investments                     
   and capital gains distributions    57    (1)    58    12                             1 
Net unrealized appreciation                     
   (depreciation) of investments    330    54    99    83                             - 
Net realized and unrealized gain (loss)                     
   on investments    387    53    157    95                             1 
Net increase (decrease) in net assets                     
   resulting from operations    $ 341    $ 48    $ 142    $ 78    $ 1 

The accompanying notes are an integral part of these financial statements.

38

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

            ING Legg         
        ING    Mason    ING    ING 
    ING    JPMorgan    Partners    Neuberger    Neuberger 
    JPMorgan    Mid Cap    Aggressive    Berman    Berman 
    International    Value    Growth    Partners    Regency 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ 2    $ -    $ -    $ -    $ - 
Total investment income    2    -    -    -                             - 
Expenses:                     
   Mortality, expense risk                     
and other charges    19    14    15    1                             - 
   Annual administrative charges    -    -    -    -                             - 
   Contingent deferred sales charges    -    2    -    -                             - 
   Other contract charges    5    2    5    -                             - 
Total expenses    24    18    20    1                             - 
Net investment income (loss)    (22)    (18)    (20)    (1)                             - 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    17    13    40    -                             - 
Capital gains distributions    -    7    -    -                             - 
Total realized gain (loss) on investments                     
   and capital gains distributions    17    20    40    -                             - 
Net unrealized appreciation                     
   (depreciation) of investments    240    126    56    1                             2 
Net realized and unrealized gain (loss)                     
   on investments    257    146    96    1                             2 
Net increase (decrease) in net assets                     
   resulting from operations    $ 235    $ 128    $ 76    $ -    $ 2 

The accompanying notes are an integral part of these financial statements.

39

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

            ING         
    ING    ING    Templeton    ING    ING UBS U.S. 
    Oppenheimer    Oppenheimer    Foreign    Thornburg    Large Cap 
    Global    Global    Equity    Value    Equity 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Initial Class    Service Class    Service Class    Initial Class    Service Class 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ 4    $ 5    $ -    $ 4 
Total investment income    -    4    5                             -    4 
Expenses:                     
   Mortality, expense risk                     
and other charges    4    95    2                             -    7 
   Annual administrative charges    -    1    -                           -    - 
   Contingent deferred sales charges    -    2    -                           -    - 
   Other contract charges    1    22    -                             -    2 
Total expenses    5    120    2                             -    9 
Net investment income (loss)    (5)    (116)    3                             -    (5) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    10    45    1                           3    4 
Capital gains distributions    -    10    -                             -    - 
Total realized gain (loss) on investments                     
   and capital gains distributions    10    55    1                             3    4 
Net unrealized appreciation                     
   (depreciation) of investments    33    886    44                             -    62 
Net realized and unrealized gain (loss)                     
   on investments    43    941    45                             3    66 
Net increase (decrease) in net assets                     
   resulting from operations    $ 38    $ 825    $ 48    $ 3    $ 61 

The accompanying notes are an integral part of these financial statements.

40

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

            ING Van         
    ING UBS U.S.    ING Van    Kampen         
    Small Cap    Kampen    Equity and    ING GET    ING GET 
    Growth    Comstock    Income    U.S. Core    U.S. Core 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Series 1    Series 2 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ 22    $ 10    $ 90    $ 159 
Total investment income                             -    22    10    90    159 
Expenses:                     
   Mortality, expense risk                     
and other charges                             -    47    8    75    118 
   Annual administrative charges                             -    -    -    1    2 
   Contingent deferred sales charges                             -    -    -    3    5 
   Other contract charges                             -    14    3    -    - 
Total expenses                             -    61    11    79    125 
Net investment income (loss)                             -    (39)    (1)    11    34 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments                             -    38    6    5    6 
Capital gains distributions                             -    151    19    69    54 
Total realized gain (loss) on investments                     
   and capital gains distributions                             -    189    25    74    60 
Net unrealized appreciation                     
   (depreciation) of investments                             1    258    25    107    147 
Net realized and unrealized gain (loss)                     
   on investments                             1    447    50    181    207 
Net increase (decrease) in net assets                     
   resulting from operations    $ 1    $ 408    $ 49    $ 192    $ 241 

The accompanying notes are an integral part of these financial statements.

41

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

    ING GET    ING GET    ING GET    ING GET    ING GET 
    U.S. Core    U.S. Core    U.S. Core    U.S. Core    U.S. Core 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Series 3    Series 4    Series 5    Series 6    Series 7 
Net investment income (loss)                     
Income:                     
   Dividends    $ 110    $ 106    $ 76    $ 58    $ 91 
Total investment income    110    106    76    58    91 
Expenses:                     
   Mortality, expense risk                     
and other charges    88    77    82    58    96 
   Annual administrative charges    1    1    1    -    - 
   Contingent deferred sales charges    5    -    5    1    - 
   Other contract charges    -    -    -    -    - 
Total expenses    94    78    88    59    96 
Net investment income (loss)    16    28    (12)    (1)    (5) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    17    50    105    153    145 
Capital gains distributions    2    69    159    17    - 
Total realized gain (loss) on investments                     
   and capital gains distributions    19    119    264    170    145 
Net unrealized appreciation                     
   (depreciation) of investments    122    47    93    50    194 
Net realized and unrealized gain (loss)                     
   on investments    141    166    357    220    339 
Net increase (decrease) in net assets                     
   resulting from operations    $ 157    $ 194    $ 345    $ 219    $ 334 

The accompanying notes are an integral part of these financial statements.

42

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

    ING GET    ING GET    ING GET    ING GET    ING GET 
    U.S. Core    U.S. Core    U.S. Core    U.S. Core    U.S. Core 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Series 8    Series 9    Series 10    Series 11    Series 12 
Net investment income (loss)                     
Income:                     
   Dividends    $ 13    $ 7    $ 9    $ 12    $ - 
Total investment income    13    7    9    12    - 
Expenses:                     
   Mortality, expense risk                     
and other charges    24    15    31    175    23 
   Annual administrative charges    -    -    -    1    - 
   Contingent deferred sales charges    -    -    1    2    - 
   Other contract charges    -    -    -    -    - 
Total expenses    24    15    32    178    23 
Net investment income (loss)    (11)                         (8)    (23)    (166)    (23) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    100    33    51    312    86 
Capital gains distributions    3    -    1    -    - 
Total realized gain (loss) on investments                     
   and capital gains distributions    103    33    52    312    86 
Net unrealized appreciation                     
   (depreciation) of investments    11    30    92    344    128 
Net realized and unrealized gain (loss)                     
   on investments    114    63    144    656    214 
Net increase (decrease) in net assets                     
   resulting from operations    $ 103    $ 55    $ 121    $ 490    $ 191 

The accompanying notes are an integral part of these financial statements.

43

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

            ING VP Index         
    ING GET    ING VP    Plus    ING VP Index    ING VP Index 
    U.S. Core    Global Equity    LargeCap    Plus MidCap    Plus SmallCap 
    Portfolio -    Dividend    Portfolio -    Portfolio -    Portfolio - 
    Series 13    Portfolio    Class S    Class S    Class S 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ 13    $ 33    $ 21    $ 11 
Total investment income    -    13    33    21    11 
Expenses:                     
   Mortality, expense risk                     
and other charges    17    6    57    83    78 
   Annual administrative charges    1    -    -    1    1 
   Contingent deferred sales charges    -    -    -    -    3 
   Other contract charges    -    1    17    25    24 
Total expenses    18    7    74    109    106 
Net investment income (loss)    (18)    6    (41)    (88)    (95) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    -    6    85    46    93 
Capital gains distributions    -    -    -    344    232 
Total realized gain (loss) on investments                     
   and capital gains distributions    -    6    85    390    325 
Net unrealized appreciation                     
   (depreciation) of investments    (27)    63    355    41    251 
Net realized and unrealized gain (loss)                     
   on investments    (27)    69    440    431    576 
Net increase (decrease) in net assets                     
   resulting from operations    $ (45)    $ 75    $ 399    $ 343    $ 481 

The accompanying notes are an integral part of these financial statements.

44

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

    ING VP        ING VP    ING VP    ING VP 
    Value    ING VP    Financial    MidCap    SmallCap 
    Opportunity    Convertible    Services    Opportunities    Opportunities 
    Portfolio -    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Class S    Class S    Class S    Class S    Class S 
Net investment income (loss)                     
Income:                     
   Dividends    $ 2    $ 3    $ 8    $ -    $ - 
Total investment income    2    3    8    -    - 
Expenses:                     
   Mortality, expense risk                     
and other charges    2    2    10    1    6 
   Annual administrative charges    -    -    -    -    - 
   Contingent deferred sales charges    -    -    -    -    - 
   Other contract charges    -    -    2    -    2 
Total expenses    2    2    12    1    8 
Net investment income (loss)    -    1    (4)    (1)    (8) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    2    (9)    56    -    17 
Capital gains distributions    -    27    2    -    - 
Total realized gain (loss) on investments                     
   and capital gains distributions    2    18    58    -    17 
Net unrealized appreciation                     
   (depreciation) of investments    18    (3)    47    3    31 
Net realized and unrealized gain (loss)                     
   on investments    20    15    105    3    48 
Net increase (decrease) in net assets                     
   resulting from operations    $ 20    $ 16    $ 101    $ 2    $ 40 

The accompanying notes are an integral part of these financial statements.

45

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

            Legg Mason    Legg Mason    Legg Mason 
        ING VP    Partners    Partners    Partners 
    ING VP    Intermediate    Variable    Variable    Variable 
    Balanced    Bond    Lifestyle    Lifestyle    Lifestyle High 
    Portfolio -    Portfolio -    Balanced    Growth    Growth 
    Class S    Class S    Portfolio    Portfolio    Portfolio 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ 149    $ 70    $ 19    $ 5 
Total investment income                             -    149    70    19    5 
Expenses:                     
   Mortality, expense risk                     
and other charges                             4    36    37    16    7 
   Annual administrative charges                             -    -    1    1    1 
   Contingent deferred sales charges                             -    -    -    -    - 
   Other contract charges                             -    12    -    -    - 
Total expenses                             4    48    38    17    8 
Net investment income (loss)    (4)    101    32    2    (3) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments                             1    (12)    2    (84)    13 
Capital gains distributions                             -    -    -    -    - 
Total realized gain (loss) on investments                     
   and capital gains distributions                             1    (12)    2    (84)    13 
Net unrealized appreciation                     
   (depreciation) of investments    17    (11)    133    153    27 
Net realized and unrealized gain (loss)                     
   on investments    18    (23)    135    69    40 
Net increase (decrease) in net assets                     
   resulting from operations    $ 14    $ 78    $ 167    $ 71    $ 37 

The accompanying notes are an integral part of these financial statements.

46

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

            Legg Mason         
            Partners    Legg Mason    Legg Mason 
    Legg Mason    Legg Mason    Variable    Partners    Partners 
    Partners    Partners    International    Variable    Variable 
    Variable    Variable    All Cap    Large Cap    Money 
    Appreciation    High Income    Growth    Value    Market 
    Portfolio    Portfolio    Portfolio    Portfolio    Portfolio 
Net investment income (loss)                     
Income:                     
   Dividends    $ -    $ 16    $ 4    $ 8    $ 8 
Total investment income    -    16    4    8                           8 
Expenses:                     
   Mortality, expense risk                     
and other charges    12    3    3    10                           2 
   Annual administrative charges    -    -    -    1                           1 
   Contingent deferred sales charges    -    -    -    -                           - 
   Other contract charges    -    -    -    -                           - 
Total expenses    12    3    3    11                           3 
Net investment income (loss)    (12)    13    1    (3)                           5 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    398    (4)    -    (5)                           - 
Capital gains distributions    -    -    4    12                           - 
Total realized gain (loss) on investments                     
   and capital gains distributions    398    (4)    4    7                           - 
Net unrealized appreciation                     
   (depreciation) of investments    (264)    9    41    106                           - 
Net realized and unrealized gain (loss)                     
   on investments    134    5    45    113                           - 
Net increase (decrease) in net assets                     
   resulting from operations    $ 122    $ 18    $ 46    $ 110    $ 5 

The accompanying notes are an integral part of these financial statements.

47

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

        PIMCO             
    Colonial    StocksPLUS®             
    Small Cap    Growth and    Pioneer Small    Pioneer Small     
    Value Fund,    Income    Cap Value    Company     
    Variable    Portfolio -    VCT    VCT     
    Series - Class    Administrative    Portfolio -    Portfolio -    ProFund VP 
    B    Class    Class II    Class II    Bull 
Net investment income (loss)                     
Income:                     
   Dividends    $ 5    $ 1    $ -    $ 7    $ - 
Total investment income    5    1                             -                             7    - 
Expenses:                     
   Mortality, expense risk                     
and other charges    20    1                             2                             1    2 
   Annual administrative charges    -    -                             -                             -    - 
   Contingent deferred sales charges    -    -                             -                             -    - 
   Other contract charges    7    -                             -                             -    - 
Total expenses    27    1                             2                             1    2 
Net investment income (loss)    (22)    -    (2)                             6    (2) 
 
Realized and unrealized gain (loss)                     
   on investments                     
Net realized gain (loss) on investments    16    27                             -                             5    1 
Capital gains distributions    36    -                             6                             -    5 
Total realized gain (loss) on investments                     
   and capital gains distributions    52    27                             6                             5    6 
Net unrealized appreciation                     
   (depreciation) of investments    139    (20)    10                             1    6 
Net realized and unrealized gain (loss)                     
   on investments    191    7    16                             6    12 
Net increase (decrease) in net assets                     
   resulting from operations    $ 169    $ 7    $ 14    $ 12    $ 10 

The accompanying notes are an integral part of these financial statements.

48

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Operations For the year ended December 31, 2006

(Dollars in thousands)

                Putnam VT 
                International 
                Growth and 
        ProFund VP        Income Fund 
    ProFund VP    Rising Rates    ProFund VP    - Class IB 
    Europe 30    Opportunity    Small-Cap    Shares 
Net investment income (loss)                 
Income:                 
   Dividends    $ -    $ 8    $ -    $ - 
Total investment income    -    8    -                             - 
Expenses:                 
   Mortality, expense risk                 
and other charges    2    7    4                             - 
   Annual administrative charges    -    -    -                             - 
   Contingent deferred sales charges    -    -    -                             - 
   Other contract charges    -    1    1                             - 
Total expenses    2    8    5                             - 
Net investment income (loss)    (2)    -    (5)                             - 
 
Realized and unrealized gain (loss)                 
   on investments                 
Net realized gain (loss) on investments    1    (2)    1                             5 
Capital gains distributions    3    -    4                             - 
Total realized gain (loss) on investments                 
   and capital gains distributions    4    (2)    5                             5 
Net unrealized appreciation                 
   (depreciation) of investments    14    25    27    (3) 
Net realized and unrealized gain (loss)                 
   on investments    18    23    32                             2 
Net increase (decrease) in net assets                 
   resulting from operations    $ 16    $ 23    $ 27    $ 2 

The accompanying notes are an integral part of these financial statements.

49

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

        Fidelity® VIP         
        Equity-    Fidelity® VIP    Fidelity® VIP 
    AIM V.I.    Income    Growth    Contrafund® 
    Leisure Fund    Portfolio -    Portfolio -    Portfolio - 
    - Series I    Service Class    Service Class    Service Class 
    Shares    2    2    2 
Net assets at January 1, 2005    $ 20    $ 1,593    $ 1,120    $ 969 
 
Increase (decrease) in net assets                 
Operations:                 
     Net investment income (loss)    1    (13)    (17)    (39) 
     Total realized gain (loss) on investments                 
           and capital gains distributions    5    82    10    46 
     Net unrealized appreciation (depreciation)                 
           of investments    (7)    54    72    398 
Net increase (decrease) in net assets from operations    (1)    123    65    405 
Changes from principal transactions:                 
     Premiums    267    1,469    313    3,183 
     Surrenders and withdrawals    (10)    (39)    (88)    90 
     Death benefits    -    (20)    -    - 
     Transfers between Divisions                 
           (including fixed account), net    (1)    (5)    (9)    22 
Increase (decrease) in net assets derived from                 
     principal transactions    256    1,405    216    3,295 
Total increase (decrease) in net assets    255    1,528    281    3,700 
Net assets at December 31, 2005    275    3,121    1,401    4,669 
 
Increase (decrease) in net assets                 
Operations:                 
     Net investment income (loss)    (3)    49    (3)    (75) 
     Total realized gain (loss) on investments                 
           and capital gains distributions    26    551    174    1,049 
     Net unrealized appreciation (depreciation)                 
           of investments    49    38    (131)    (137) 
Net increase (decrease) in net assets from operations    72    638    40    837 
Changes from principal transactions:                 
     Premiums    106    1,977    (1)    6,432 
     Surrenders and withdrawals    (65)    (590)    (1,423)    888 
     Death benefits    (2)    (124)    (17)    (129) 
     Transfers between Divisions                 
           (including fixed account), net    -    2    -    8 
Increase (decrease) in net assets derived from                 
     principal transactions    39    1,265    (1,441)    7,199 
Total increase (decrease) in net assets    111    1,903    (1,401)    8,036 
Net assets at December 31, 2006    $ 386    $ 5,024    $ -    $ 12,705 

The accompanying notes are an integral part of these financial statements.

50

                                     RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK     
                                                                                       SEPARATE ACCOUNT NY-B             
Statements of Changes in Net Assets             
                                                           For the years ended December 31, 2006 and 2005         
(Dollars in thousands)                 
 
 
                        ING 
        ING        ING    American 
    Mutual    AllianceBernstein    American    Funds 
    Shares    Mid Cap Growth    Funds    Growth- 
    Securities    Portfolio - Service    Growth    Income 
    Fund - Class 2    Class        Portfolio    Portfolio 
Net assets at January 1, 2005    $ -    $ 927    $ 1,273    $ 1,202 
 
Increase (decrease) in net assets                         
Operations:                         
   Net investment income (loss)    -        (16)        (95)    (72) 
   Total realized gain (loss) on investments                         
         and capital gains distributions    -        58        12    9 
   Net unrealized appreciation (depreciation)                         
         of investments    -        29        996    385 
Net increase (decrease) in net assets from operations    -        71        913    322 
Changes from principal transactions:                         
   Premiums    -        571        8,378    7,848 
   Surrenders and withdrawals    -        (69)        249    206 
   Death benefits    -        (23)        (9)    (9) 
   Transfers between Divisions                         
         (including fixed account), net    -        -        3    5 
Increase (decrease) in net assets derived from                         
   principal transactions    -        479        8,621    8,050 
Total increase (decrease) in net assets    -        550        9,534    8,372 
Net assets at December 31, 2005    -        1,477        10,807    9,574 
 
Increase (decrease) in net assets                         
Operations:                         
   Net investment income (loss)    (3)        (34)        (340)    (202) 
   Total realized gain (loss) on investments                         
         and capital gains distributions    3        441        312    200 
   Net unrealized appreciation (depreciation)                         
         of investments    50        (397)        1,456    1,736 
Net increase (decrease) in net assets from operations    50        10        1,428    1,734 
Changes from principal transactions:                         
   Premiums    636        1,011        13,138    9,365 
   Surrenders and withdrawals    334        (39)        531    (871) 
   Death benefits    -        (76)        (17)    (9) 
   Transfers between Divisions                         
         (including fixed account), net    -        5        21    37 
Increase (decrease) in net assets derived from                         
   principal transactions    970        901        13,673    8,522 
Total increase (decrease) in net assets    1,020        911        15,101    10,256 
Net assets at December 31, 2006    $ 1,020    $ 2,388    $ 25,908    $ 19,830 

The accompanying notes are an integral part of these financial statements.

51

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

        ING    ING    ING Capital 
    ING    BlackRock    BlackRock    Guardian 
    American    Large Cap    Large Cap    Small/Mid 
    Funds    Growth    Value    Cap Portfolio 
    International    Portfolio -    Portfolio -    - Service 
    Portfolio    Service Class    Service Class    Class 
Net assets at January 1, 2005    $ 571    $ -    $ -    $ 2,302 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (36)    (1)    (1)    (29) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    13    -    -    (190) 
   Net unrealized appreciation (depreciation)                 
         of investments    711    16    5    160 
Net increase (decrease) in net assets from operations    688    15    4    (59) 
Changes from principal transactions:                 
   Premiums    4,106    65    135    290 
   Surrenders and withdrawals    83    188    12    (167) 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    10    (1)    1    - 
Increase (decrease) in net assets derived from                 
   principal transactions    4,199    252    148    123 
Total increase (decrease) in net assets    4,887    267    152    64 
Net assets at December 31, 2005    5,458    267    152    2,366 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (122)    (8)    (3)    (26) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    209    34    14    68 
   Net unrealized appreciation (depreciation)                 
         of investments    1,244    1    22    188 
Net increase (decrease) in net assets from operations    1,331    27    33    230 
Changes from principal transactions:                 
   Premiums    6,113    233    210    77 
   Surrenders and withdrawals    (135)    (2)    15    (310) 
   Death benefits    (13)    (3)    -    (156) 
   Transfers between Divisions                 
         (including fixed account), net    15    -    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    5,980    228    225    (389) 
Total increase (decrease) in net assets    7,311    255    258    (159) 
Net assets at December 31, 2006    $ 12,769    $ 522    $ 410    $ 2,207 

The accompanying notes are an integral part of these financial statements.

52

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

                ING 
    ING Capital    ING Eagle        Evergreen 
    Guardian    Asset Capital    ING    Health 
    U.S. Equities    Appreciation    EquitiesPlus    Sciences 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ 605    $ 442    $ -    $ 86 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (6)    (2)    -    (11) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    47    30    -    43 
   Net unrealized appreciation (depreciation)                 
         of investments    (12)    (33)    -    40 
Net increase (decrease) in net assets from operations    29    (5)    -    72 
Changes from principal transactions:                 
   Premiums    99    291    -    1,018 
   Surrenders and withdrawals    (75)    (66)    -    147 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    1    -    -    1 
Increase (decrease) in net assets derived from                 
   principal transactions    25    225    -    1,165 
Total increase (decrease) in net assets    54    220    -    1,238 
Net assets at December 31, 2005    659    662    -    1,324 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (9)    3    (1)    (41) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    100    127    2    63 
   Net unrealized appreciation (depreciation)                 
         of investments    (30)    (34)    12    246 
Net increase (decrease) in net assets from operations    61    96    13    268 
Changes from principal transactions:                 
   Premiums    252    43    39    1,563 
   Surrenders and withdrawals    (134)    (801)    113    (236) 
   Death benefits    (6)    -    -    (22) 
   Transfers between Divisions                 
         (including fixed account), net    -    -    -    (1) 
Increase (decrease) in net assets derived from                 
   principal transactions    112    (758)    152    1,304 
Total increase (decrease) in net assets    173    (662)    165    1,572 
Net assets at December 31, 2006    $ 832    $ -    $ 165    $ 2,896 

The accompanying notes are an integral part of these financial statements.

53

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B             
                                                                               Statements of Changes in Net Assets         
                                                           For the years ended December 31, 2006 and 2005     
(Dollars in thousands)             
 
 
    ING    ING FMRSM    ING FMRSM    ING FMRSM 
    Evergreen    Diversified        Large Cap    Mid Cap 
    Omega    Mid Cap        Growth    Growth 
    Portfolio -    Portfolio -        Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ -    $ 168    $ -    $ 2,249 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    -    (11)        (2)    (30) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    3    59        1    (120) 
   Net unrealized appreciation (depreciation)                     
         of investments    2    47        10    181 
Net increase (decrease) in net assets from operations    5    95        9    31 
Changes from principal transactions:                     
   Premiums    47    1,191        25    69 
   Surrenders and withdrawals    25    497        386    (158) 
   Death benefits    -    -        -    (4) 
   Transfers between Divisions                     
         (including fixed account), net    -    1        -    (1) 
Increase (decrease) in net assets derived from                     
   principal transactions    72    1,689        411    (94) 
Total increase (decrease) in net assets    77    1,784        420    (63) 
Net assets at December 31, 2005    77    1,952        420    2,186 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    (2)    (82)        (7)    (34) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    7    383        5    (180) 
   Net unrealized appreciation (depreciation)                     
         of investments    2    (5)        (1)    319 
Net increase (decrease) in net assets from operations    7    296        (3)    105 
Changes from principal transactions:                     
   Premiums    (1)    2,822        -    385 
   Surrenders and withdrawals    10    66        194    416 
   Death benefits    (11)    (4)        -    (56) 
   Transfers between Divisions                     
         (including fixed account), net    -    -        -    - 
Increase (decrease) in net assets derived from                     
   principal transactions    (2)    2,884        194    745 
Total increase (decrease) in net assets    5    3,180        191    850 
Net assets at December 31, 2006    $ 82    $ 5,132    $ 611    $ 3,036 

The accompanying notes are an integral part of these financial statements.

54

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

    ING Franklin    ING Global    ING Global    ING Global 
    Income    Real Estate    Resources    Technology 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ -    $ -    $ 110    $ 13 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    -    -    (5)    - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    -    -    53    3 
   Net unrealized appreciation (depreciation)                 
         of investments    -    -    42    (2) 
Net increase (decrease) in net assets from operations    -    -    90    1 
Changes from principal transactions:                 
   Premiums    -    -    628    100 
   Surrenders and withdrawals    -    -    67    (1) 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    (1)    (1) 
Increase (decrease) in net assets derived from                 
   principal transactions    -    -    694    98 
Total increase (decrease) in net assets    -    -    784    99 
Net assets at December 31, 2005    -    -    894    112 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (15)    15    (32)    (4) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    2    17    267    21 
   Net unrealized appreciation (depreciation)                 
         of investments    145    292    19    2 
Net increase (decrease) in net assets from operations    132    324    254    19 
Changes from principal transactions:                 
   Premiums    2,277    747    1,466    111 
   Surrenders and withdrawals    382    946    482    (26) 
   Death benefits    -    -    -    (55) 
   Transfers between Divisions                 
         (including fixed account), net    18    -    2    - 
Increase (decrease) in net assets derived from                 
   principal transactions    2,677    1,693    1,950    30 
Total increase (decrease) in net assets    2,809    2,017    2,204    49 
Net assets at December 31, 2006    $ 2,809    $ 2,017    $ 3,098    $ 161 

The accompanying notes are an integral part of these financial statements.

55

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B             
                                                                               Statements of Changes in Net Assets         
                                                           For the years ended December 31, 2006 and 2005     
(Dollars in thousands)             
 
 
                    ING 
            ING JPMorgan    JPMorgan 
    ING    ING Janus        Emerging    Small Cap 
    International    Contrarian    Markets Equity Core Equity 
    Portfolio -    Portfolio -        Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ 208    $ 57    $ 335    $ 177 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    2    (2)        (9)    (23) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    10    1        36    120 
   Net unrealized appreciation (depreciation)                     
         of investments    6    32        149    (27) 
Net increase (decrease) in net assets from operations    18    31        176    70 
Changes from principal transactions:                     
   Premiums    -    162        542    2,186 
   Surrenders and withdrawals    -    23        93    84 
   Death benefits    -    -        -    - 
   Transfers between Divisions                     
         (including fixed account), net    -    (1)        2    1 
Increase (decrease) in net assets derived from    -    -        -     
   principal transactions    -    184        637    2,271 
Total increase (decrease) in net assets    18    215        813    2,341 
Net assets at December 31, 2005    226    272        1,148    2,518 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    1    (6)        (54)    (95) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    34    44        332    187 
   Net unrealized appreciation (depreciation)                     
         of investments    10    52        757    457 
Net increase (decrease) in net assets from operations    45    90        1,035    549 
Changes from principal transactions:                     
   Premiums    -    415        2,794    3,158 
   Surrenders and withdrawals    (3)    (21)        715    (247) 
   Death benefits    -    -        (38)    - 
   Transfers between Divisions                     
         (including fixed account), net    -    -        1    - 
Increase (decrease) in net assets derived from                     
   principal transactions    (3)    394        3,472    2,911 
Total increase (decrease) in net assets    42    484        4,507    3,460 
Net assets at December 31, 2006    $ 268    $ 756    $ 5,655    $ 5,978 

The accompanying notes are an integral part of these financial statements.

56

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B         
Statements of Changes in Net Assets         
                                                           For the years ended December 31, 2006 and 2005     
(Dollars in thousands)         
 
 
    ING        ING Legg     
    JPMorgan        Mason     
    Value    ING Julius    Partners All    ING Legg 
    Opportunities    Baer Foreign    Cap Portfolio    Mason Value 
    Portfolio -    Portfolio -    - Service    Portfolio - 
    Service Class    Service Class    Class    Service Class 
Net assets at January 1, 2005    $ -    $ 232    $ 1,083    $ 419 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (8)    (15)    (12)    (23) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    1    147    16    14 
   Net unrealized appreciation (depreciation)                 
         of investments    41    25    33    150 
Net increase (decrease) in net assets from operations    34    157    37    141 
Changes from principal transactions:                 
   Premiums    310    1,610    461    2,183 
   Surrenders and withdrawals    1,426    81    (94)    83 
   Death benefits    -    -    (8)    - 
   Transfers between Divisions                 
         (including fixed account), net    -    3    17    206 
Increase (decrease) in net assets derived from                 
   principal transactions    1,736    1,694    376    2,472 
Total increase (decrease) in net assets    1,770    1,851    413    2,613 
Net assets at December 31, 2005    1,770    2,083    1,496    3,032 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (21)    (79)    (16)    (96) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    75    71    58    121 
   Net unrealized appreciation (depreciation)                 
         of investments    203    962    237    348 
Net increase (decrease) in net assets from operations    257    954    279    373 
Changes from principal transactions:                 
   Premiums    510    2,428    314    3,536 
   Surrenders and withdrawals    (860)    887    345    (527) 
   Death benefits    -    (13)    -    (40) 
   Transfers between Divisions                 
         (including fixed account), net    -    40    6    75 
Increase (decrease) in net assets derived from                 
   principal transactions    (350)    3,342    665    3,044 
Total increase (decrease) in net assets    (93)    4,296    944    3,417 
Net assets at December 31, 2006    $ 1,677    $ 6,379    $ 2,440    $ 6,449 

The accompanying notes are an integral part of these financial statements.

57

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B             
                                                                               Statements of Changes in Net Assets         
                                                           For the years ended December 31, 2006 and 2005     
(Dollars in thousands)             
 
 
    ING LifeStyle        ING LifeStyle     
    Aggressive    ING LifeStyle        Moderate    ING LifeStyle 
    Growth    Growth        Growth    Moderate 
    Portfolio -    Portfolio -        Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ 354    $ 51    $ 785    $ 67 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    (31)    (63)        (69)    (31) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    13    21        32    16 
   Net unrealized appreciation (depreciation)                     
         of investments    236    491        493    223 
Net increase (decrease) in net assets from operations    218    449        456    208 
Changes from principal transactions:                     
   Premiums    4,743    9,661        9,541    5,869 
   Surrenders and withdrawals    (11)    (82)        1,154    71 
   Death benefits    -    -        -    - 
   Transfers between Divisions                     
         (including fixed account), net    13    86        774    94 
Increase (decrease) in net assets derived from                     
   principal transactions    4,745    9,665        11,469    6,034 
Total increase (decrease) in net assets    4,963    10,114        11,925    6,242 
Net assets at December 31, 2005    5,317    10,165        12,710    6,309 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    (206)    (344)        (275)    (79) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    308    484        471    225 
   Net unrealized appreciation (depreciation)                     
         of investments    1,574    2,669        2,575    832 
Net increase (decrease) in net assets from operations    1,676    2,809        2,771    978 
Changes from principal transactions:                     
   Premiums    10,225    21,431        21,101    6,406 
   Surrenders and withdrawals    339    481        1,143    892 
   Death benefits    (137)    (42)        (69)    - 
   Transfers between Divisions                     
         (including fixed account), net    14    129        99    1 
Increase (decrease) in net assets derived from                     
   principal transactions    10,441    21,999        22,274    7,299 
Total increase (decrease) in net assets    12,117    24,808        25,045    8,277 
Net assets at December 31, 2006    $ 17,434    $ 34,973    $ 37,755    $ 14,586 

The accompanying notes are an integral part of these financial statements.

58

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

    ING Limited        ING Lord     
    Maturity    ING Liquid    Abbett    ING 
    Bond    Assets    Affiliated    MarketPro 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ 1,191    $ 1,254    $ 187    $ - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    39    (26)    -    - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    (13)    -    33    - 
   Net unrealized appreciation (depreciation)                 
         of investments    (24)    -    (23)    - 
Net increase (decrease) in net assets from operations    2    (26)    10    - 
Changes from principal transactions:                 
   Premiums    12    6,794    68    - 
   Surrenders and withdrawals    (264)    (3,904)    (64)    - 
   Death benefits    -    (27)    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    1    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    (252)    2,864    4    - 
Total increase (decrease) in net assets    (250)    2,838    14    - 
Net assets at December 31, 2005    941    4,092    201    - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    17    (24)    (3)    (1) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    (15)    -    37    - 
   Net unrealized appreciation (depreciation)                 
         of investments    17    -    13    10 
Net increase (decrease) in net assets from operations    19    (24)    47    9 
Changes from principal transactions:                 
   Premiums    12    14,685    211    262 
   Surrenders and withdrawals    (205)    (11,685)    -    (1) 
   Death benefits    (13)    (22)    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    4    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    (206)    2,982    211    261 
Total increase (decrease) in net assets    (187)    2,958    258    270 
Net assets at December 31, 2006    $ 754    $ 7,050    $ 459    $ 270 

The accompanying notes are an integral part of these financial statements.

59

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B         
Statements of Changes in Net Assets         
                                                           For the years ended December 31, 2006 and 2005     
(Dollars in thousands)         
 
 
        ING Marsico         
    ING Marsico    International    ING MFS    ING MFS 
    Growth    Opportunities    Total Return    Utilities 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ 4,504    $ -    $ 4,707    $ - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (73)    (6)    34    2 
   Total realized gain (loss) on investments                 
         and capital gains distributions    (248)    23    256    21 
   Net unrealized appreciation (depreciation)                 
         of investments    706    165    (190)    (11) 
Net increase (decrease) in net assets from operations    385    182    100    12 
Changes from principal transactions:                 
   Premiums    1,370    1,138    3,632    501 
   Surrenders and withdrawals    (261)    497    (141)    474 
   Death benefits    (27)    -    (40)    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    12    1 
Increase (decrease) in net assets derived from                 
   principal transactions    1,082    1,635    3,463    976 
Total increase (decrease) in net assets    1,467    1,817    3,563    988 
Net assets at December 31, 2005    5,971    1,817    8,270    988 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (109)    (58)    48    (35) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    (1,066)    70    557    40 
   Net unrealized appreciation (depreciation)                 
         of investments    1,393    535    310    557 
Net increase (decrease) in net assets from operations    218    547    915    562 
Changes from principal transactions:                 
   Premiums    1,391    1,116    2,234    1,617 
   Surrenders and withdrawals    (179)    (41)    (813)    322 
   Death benefits    (244)    (27)    (70)    (11) 
   Transfers between Divisions                 
         (including fixed account), net    27    5    8    14 
Increase (decrease) in net assets derived from                 
   principal transactions    995    1,053    1,359    1,942 
Total increase (decrease) in net assets    1,213    1,600    2,274    2,504 
Net assets at December 31, 2006    $ 7,184    $ 3,417    $ 10,544    $ 3,492 

The accompanying notes are an integral part of these financial statements.

60

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

ING
    Oppenheimer    ING PIMCO    ING PIMCO    ING Pioneer 
    Main Street    Core Bond    High Yield    Fund 
    Portfolio® -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ 2,350    $ 1,456    $ 1,016    $ - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (14)    47    92    - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    (82)    38    9    - 
   Net unrealized appreciation (depreciation)                 
         of investments    203    (73)    (46)    2 
Net increase (decrease) in net assets from operations    107    12    55    2 
Changes from principal transactions:                 
   Premiums    633    3,014    1,464    30 
   Surrenders and withdrawals    (298)    (206)    (5)    45 
   Death benefits    (3)    (25)    (23)    - 
   Transfers between Divisions                 
         (including fixed account), net    (1)    56    11    - 
Increase (decrease) in net assets derived from                 
   principal transactions    331    2,839    1,447    75 
Total increase (decrease) in net assets    438    2,851    1,502    77 
Net assets at December 31, 2005    2,788    4,307    2,518    77 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (27)    32    153    (1) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    (166)    (9)    34    5 
   Net unrealized appreciation (depreciation)                 
         of investments    725    121    49    9 
Net increase (decrease) in net assets from operations    532    144    236    13 
Changes from principal transactions:                 
   Premiums    1,551    2,350    1,693    51 
   Surrenders and withdrawals    696    (279)    (83)    (11) 
   Death benefits    (127)    (29)    (44)    - 
   Transfers between Divisions                 
         (including fixed account), net    4    32    11    - 
Increase (decrease) in net assets derived from                 
   principal transactions    2,124    2,074    1,577    40 
Total increase (decrease) in net assets    2,656    2,218    1,813    53 
Net assets at December 31, 2006    $ 5,444    $ 6,525    $ 4,331    $ 130 

The accompanying notes are an integral part of these financial statements.

61

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

                ING 
    ING Pioneer    ING T. Rowe    ING T. Rowe    Templeton 
    Mid Cap    Price Capital    Price Equity    Global 
    Value    Appreciation    Income    Growth 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ -    $ 869    $ 1,336    $ 1,045 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (10)    (9)    (16)    (7) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    1    80    78    (36) 
   Net unrealized appreciation (depreciation)                 
         of investments    33    22    19    130 
Net increase (decrease) in net assets from operations    24    93    81    87 
Changes from principal transactions:                 
   Premiums    1,365    1,654    2,857    58 
   Surrenders and withdrawals    84    218    129    (36) 
   Death benefits    -    -    (31)    (14) 
   Transfers between Divisions                 
         (including fixed account), net    -    -    10    (1) 
Increase (decrease) in net assets derived from                 
   principal transactions    1,449    1,872    2,965    7 
Total increase (decrease) in net assets    1,473    1,965    3,046    94 
Net assets at December 31, 2005    1,473    2,834    4,382    1,139 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (43)    (43)    (35)    (16) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    38    489    396    191 
   Net unrealized appreciation (depreciation)                 
         of investments    302    396    549    289 
Net increase (decrease) in net assets from operations    297    842    910    464 
Changes from principal transactions:                 
   Premiums    1,441    5,222    2,524    2,042 
   Surrenders and withdrawals    620    1,319    (573)    121 
   Death benefits    (4)    (78)    (80)    - 
   Transfers between Divisions                 
         (including fixed account), net    9    31    20    5 
Increase (decrease) in net assets derived from                 
   principal transactions    2,066    6,494    1,891    2,168 
Total increase (decrease) in net assets    2,363    7,336    2,801    2,632 
Net assets at December 31, 2006    $ 3,836    $ 10,170    $ 7,183    $ 3,771 

The accompanying notes are an integral part of these financial statements.

62

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

        ING Van    ING Van    ING Van 
        Kampen    Kampen    Kampen 
    ING UBS U.S.    Equity    Global    Growth and 
    Allocation    Growth    Franchise    Income 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ 271    $ -    $ -    $ 1,502 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    -    (1)    (2)    (8) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    1    2    -    - 
   Net unrealized appreciation (depreciation)                 
         of investments    25    12    14    142 
Net increase (decrease) in net assets from operations    26    13    12    134 
Changes from principal transactions:                 
   Premiums    237    167    402    274 
   Surrenders and withdrawals    26    36    15    118 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    1    -    (2) 
Increase (decrease) in net assets derived from                 
   principal transactions    263    204    417    390 
Total increase (decrease) in net assets    289    217    429    524 
Net assets at December 31, 2005    560    217    429    2,026 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (2)    (5)    (5)    (11) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    17    16    58    241 
   Net unrealized appreciation (depreciation)                 
         of investments    38    1    98    94 
Net increase (decrease) in net assets from operations    53    12    151    324 
Changes from principal transactions:                 
   Premiums    2    144    779    439 
   Surrenders and withdrawals    26    41    223    (346) 
   Death benefits    (2)    -    (20)    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    5    - 
Increase (decrease) in net assets derived from                 
   principal transactions    26    185    987    93 
Total increase (decrease) in net assets    79    197    1,138    417 
Net assets at December 31, 2006    $ 639    $ 414    $ 1,567    $ 2,443 

The accompanying notes are an integral part of these financial statements.

63

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

        ING VP    ING Wells    ING Wells 
    ING Van    Index Plus    Fargo Mid    Fargo Small 
    Kampen Real International    Cap    Cap 
    Estate    Equity    Disciplined    Disciplined 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ 670    $ -    $ 935    $ - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (8)    -    (7)    - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    224    -    (30)    - 
   Net unrealized appreciation (depreciation)                 
         of investments    25    -    78    - 
Net increase (decrease) in net assets from operations    241    -    41    - 
Changes from principal transactions:                 
   Premiums    1,456    -    69    - 
   Surrenders and withdrawals    (284)    -    (50)    - 
   Death benefits    -    -    (12)    - 
   Transfers between Divisions                 
         (including fixed account), net    7    -    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    1,179    -    7    - 
Total increase (decrease) in net assets    1,420    -    48    - 
Net assets at December 31, 2005    2,090    -    983    - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (30)    -    (15)    (2) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    486    8    (18)    8 
   Net unrealized appreciation (depreciation)                 
         of investments    523    41    248    17 
Net increase (decrease) in net assets from operations    979    49    215    23 
Changes from principal transactions:                 
   Premiums    2,190    306    990    299 
   Surrenders and withdrawals    (182)    57    108    16 
   Death benefits    (115)    -    (17)    - 
   Transfers between Divisions                 
         (including fixed account), net    4    -    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    1,897    363    1,081    315 
Total increase (decrease) in net assets    2,876    412    1,296    338 
Net assets at December 31, 2006    $ 4,966    $ 412    $ 2,279    $ 338 

The accompanying notes are an integral part of these financial statements.

64

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

        ING         
    ING Baron    Columbia    ING Davis    ING 
    Small Cap    Small Cap    Venture    Fundamental 
    Growth    Value II    Value    Research 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Initial Class 
Net assets at January 1, 2005    $ -    $ -    $ -    $ - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (4)    -    -    - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    -    -    -    - 
   Net unrealized appreciation (depreciation)                 
         of investments    13    -    -    - 
Net increase (decrease) in net assets from operations    9    -    -    - 
Changes from principal transactions:                 
   Premiums    709    -    -    - 
   Surrenders and withdrawals    75    -    11    - 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    784    -    11    - 
Total increase (decrease) in net assets    793    -    11    - 
Net assets at December 31, 2005    793    -    11    - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (46)    (5)    (15)    (17) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    57    (1)    58    12 
   Net unrealized appreciation (depreciation)                 
         of investments    330    54    99    83 
Net increase (decrease) in net assets from operations    341    48    142    78 
Changes from principal transactions:                 
   Premiums    2,613    747    1,461    2 
   Surrenders and withdrawals    240    73    812    2,288 
   Death benefits    -    (2)    -    (27) 
   Transfers between Divisions                 
         (including fixed account), net    21    (1)    14    - 
Increase (decrease) in net assets derived from                 
   principal transactions    2,874    817    2,287    2,263 
Total increase (decrease) in net assets    3,215    865    2,429    2,341 
Net assets at December 31, 2006    $ 4,008    $ 865    $ 2,440    $ 2,341 

The accompanying notes are an integral part of these financial statements.

65

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B             
                                                                               Statements of Changes in Net Assets         
For the years ended December 31, 2006 and 2005     
(Dollars in thousands)             
 
 
                ING    ING Legg 
    ING    ING        JPMorgan    Mason Partners 
    Fundamental    JPMorgan        Mid Cap    Aggressive 
    Research    International        Value    Growth 
    Portfolio -    Portfolio -        Portfolio -    Portfolio - 
    Service Class    Service Class    Service Class    Service Class 
Net assets at January 1, 2005    $ -    $ 46    $ 436    $ 93 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    -    (5)        (12)    (6) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    -    3        96    1 
   Net unrealized appreciation (depreciation)                     
         of investments    1    68        (23)    51 
Net increase (decrease) in net assets from operations    1    66        61    46 
Changes from principal transactions:                     
   Premiums    22    664        399    584 
   Surrenders and withdrawals    4    60        24    55 
   Death benefits    -    -        -    - 
   Transfers between Divisions                     
         (including fixed account), net    (1)    6        -    (1) 
Increase (decrease) in net assets derived from                     
   principal transactions    25    730        423    638 
Total increase (decrease) in net assets    26    796        484    684 
Net assets at December 31, 2005    26    842        920    777 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    -    (22)        (18)    (20) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    1    17        20    40 
   Net unrealized appreciation (depreciation)                     
         of investments    -    240        126    56 
Net increase (decrease) in net assets from operations    1    235        128    76 
Changes from principal transactions:                     
   Premiums    -    777        -    431 
   Surrenders and withdrawals    (22)    443        (35)    (137) 
   Death benefits    -    (7)        (30)    (18) 
   Transfers between Divisions                     
         (including fixed account), net    -    -        -    - 
Increase (decrease) in net assets derived from                     
   principal transactions    (22)    1,213        (65)    276 
Total increase (decrease) in net assets    (21)    1,448        63    352 
Net assets at December 31, 2006    $ 5    $ 2,290    $ 983    $ 1,129 

The accompanying notes are an integral part of these financial statements.

66

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

    ING    ING         
    Neuberger    Neuberger    ING    ING 
    Berman    Berman    Oppenheimer Oppenheimer 
    Partners    Regency    Global    Global 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Initial Class    Service Class 
Net assets at January 1, 2005    $ -    $ -    $ -    $ 80 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    -    -    (1)    1 
   Total realized gain (loss) on investments                 
         and capital gains distributions    -    -    9    44 
   Net unrealized appreciation (depreciation)                 
         of investments    -    -    35    103 
Net increase (decrease) in net assets from operations    -    -    43    148 
Changes from principal transactions:                 
   Premiums    -    -    5    2,172 
   Surrenders and withdrawals    -    -    219    29 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    1    3 
Increase (decrease) in net assets derived from                 
   principal transactions    -    -    225    2,204 
Total increase (decrease) in net assets    -    -    268    2,352 
Net assets at December 31, 2005    -    -    268    2,432 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (1)    -    (5)    (116) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    -    -    10    55 
   Net unrealized appreciation (depreciation)                 
         of investments    1    2    33    886 
Net increase (decrease) in net assets from operations    -    2    38    825 
Changes from principal transactions:                 
   Premiums    87    45    -    3,493 
   Surrenders and withdrawals    730    -    (41)    1,541 
   Death benefits    -    -    -    (127) 
   Transfers between Divisions                 
         (including fixed account), net    -    -    -    29 
Increase (decrease) in net assets derived from                 
   principal transactions    817    45    (41)    4,936 
Total increase (decrease) in net assets    817    47    (3)    5,761 
Net assets at December 31, 2006    $ 817    $ 47    $ 265    $ 8,193 

The accompanying notes are an integral part of these financial statements.

67

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

ING
    Templeton    ING    ING UBS U.S.    ING UBS U.S. 
    Foreign    Thornburg    Large Cap    Small Cap 
    Equity    Value    Equity    Growth 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Initial Class    Service Class    Service Class 
Net assets at January 1, 2005    $ -    $ 17    $ 71    $ - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    -    -    (4)                             - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    -    -    4                             - 
   Net unrealized appreciation (depreciation)                 
         of investments    -    -    25                             - 
Net increase (decrease) in net assets from operations    -    -    25                             - 
Changes from principal transactions:                 
   Premiums    -    7    317                             - 
   Surrenders and withdrawals    -    (1)    (38)                             - 
   Death benefits    -    -    -                             - 
   Transfers between Divisions                 
         (including fixed account), net    -    1    5                             - 
Increase (decrease) in net assets derived from                 
   principal transactions    -    7    284                             - 
Total increase (decrease) in net assets    -    7    309                             - 
Net assets at December 31, 2005    -    24    380                             - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    3    -    (5)                             - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    1    3    4                             - 
   Net unrealized appreciation (depreciation)                 
         of investments    44    -    62                             1 
Net increase (decrease) in net assets from operations    48    3    61                             1 
Changes from principal transactions:                 
   Premiums    388    -    163                             6 
   Surrenders and withdrawals    30    (15)    (23)                             - 
   Death benefits    -    -    -                             - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    -                             - 
Increase (decrease) in net assets derived from                 
   principal transactions    418    (15)    140                             6 
Total increase (decrease) in net assets    466    (12)    201                             7 
Net assets at December 31, 2006    $ 466    $ 12    $ 581    $ 7 

The accompanying notes are an integral part of these financial statements.

68

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

        ING Van         
    ING Van    Kampen         
    Kampen    Equity and    ING GET    ING GET 
    Comstock    Income    U.S. Core    U.S. Core 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Service Class    Service Class    Series 1    Series 2 
Net assets at January 1, 2005    $ 264    $ -    $ 4,629    $ 8,050 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (15)    (1)    4    45 
   Total realized gain (loss) on investments                 
         and capital gains distributions    47    -    189    190 
   Net unrealized appreciation (depreciation)                 
         of investments    32    10    (234)    (329) 
Net increase (decrease) in net assets from operations    64    9    (41)    (94) 
Changes from principal transactions:                 
   Premiums    1,896    341    (7)    - 
   Surrenders and withdrawals    46    27    (740)    (1,674) 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    3    -    (1)    (1) 
Increase (decrease) in net assets derived from                 
   principal transactions    1,945    368    (748)    (1,675) 
Total increase (decrease) in net assets    2,009    377    (789)    (1,769) 
Net assets at December 31, 2005    2,273    377    3,840    6,281 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (39)    (1)    11    34 
   Total realized gain (loss) on investments                 
         and capital gains distributions    189    25    74    60 
   Net unrealized appreciation (depreciation)                 
         of investments    258    25    107    147 
Net increase (decrease) in net assets from operations    408    49    192    241 
Changes from principal transactions:                 
   Premiums    1,090    151    (2)    (3) 
   Surrenders and withdrawals    (90)    (35)    (439)    (999) 
   Death benefits    (9)    -    (49)    - 
   Transfers between Divisions                 
         (including fixed account), net    24    -    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    1,015    116    (490)    (1,002) 
Total increase (decrease) in net assets    1,423    165    (298)    (761) 
Net assets at December 31, 2006    $ 3,696    $ 542    $ 3,542    $ 5,520 

The accompanying notes are an integral part of these financial statements.

69

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

    ING GET    ING GET    ING GET    ING GET 
    U.S. Core    U.S. Core    U.S. Core    U.S. Core 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Series 3    Series 4    Series 5    Series 6 
Net assets at January 1, 2005    $ 6,647    $ 5,714    $ 6,705    $ 5,285 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (14)    (20)    (72)    (81) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    10    81    186    19 
   Net unrealized appreciation (depreciation)                 
         of investments    (88)    (107)    (96)    78 
Net increase (decrease) in net assets from operations    (92)    (46)    18    16 
Changes from principal transactions:                 
   Premiums    (4)    (62)    (6)    (14) 
   Surrenders and withdrawals    (869)    (977)    (1,696)    (854) 
   Death benefits    (98)    (244)    -    (363) 
   Transfers between Divisions                 
         (including fixed account), net    (1)    (1)    (1)    (6) 
Increase (decrease) in net assets derived from                 
   principal transactions    (972)    (1,284)    (1,703)    (1,237) 
Total increase (decrease) in net assets    (1,064)    (1,330)    (1,685)    (1,221) 
Net assets at December 31, 2005    5,583    4,384    5,020    4,064 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    16    28    (12)    (1) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    19    119    264    170 
   Net unrealized appreciation (depreciation)                 
         of investments    122    47    93    50 
Net increase (decrease) in net assets from operations    157    194    345    219 
Changes from principal transactions:                 
   Premiums    (6)    2    (1)    - 
   Surrenders and withdrawals    (2,382)    (1,039)    (1,489)    (2,421) 
   Death benefits    (337)    (270)    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    10    - 
Increase (decrease) in net assets derived from                 
   principal transactions    (2,725)    (1,307)    (1,480)    (2,421) 
Total increase (decrease) in net assets    (2,568)    (1,113)    (1,135)    (2,202) 
Net assets at December 31, 2006    $ 3,015    $ 3,271    $ 3,885    $ 1,862 

The accompanying notes are an integral part of these financial statements.

70

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

    ING GET    ING GET    ING GET    ING GET 
    U.S. Core    U.S. Core    U.S. Core    U.S. Core 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Series 7    Series 8    Series 9    Series 10 
Net assets at January 1, 2005    $ -    $ -    $ -    $ - 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (126)    (39)    (12)    (4) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    13    3    -    - 
   Net unrealized appreciation (depreciation)                 
         of investments    122    50    -    (16) 
Net increase (decrease) in net assets from operations    9    14    (12)    (20) 
Changes from principal transactions:                 
   Premiums    71    1    87    96 
   Surrenders and withdrawals    2,377    403    118    1,360 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    4,112    2,528    1,364    1,386 
Increase (decrease) in net assets derived from                 
   principal transactions    6,560    2,932    1,569    2,842 
Total increase (decrease) in net assets    6,569    2,946    1,557    2,822 
Net assets at December 31, 2005    6,569    2,946    1,557    2,822 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (5)    (11)    (8)    (23) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    145    103    33    52 
   Net unrealized appreciation (depreciation)                 
         of investments    194    11    30    92 
Net increase (decrease) in net assets from operations    334    103    55    121 
Changes from principal transactions:                 
   Premiums    -    -    -    - 
   Surrenders and withdrawals    (3,321)    (2,369)    (1,231)    (1,940) 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    -    (6) 
Increase (decrease) in net assets derived from                 
   principal transactions    (3,321)    (2,369)    (1,231)    (1,946) 
Total increase (decrease) in net assets    (2,987)    (2,266)    (1,176)    (1,825) 
Net assets at December 31, 2006    $ 3,582    $ 680    $ 381    $ 997 

The accompanying notes are an integral part of these financial statements.

71

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

    ING GET    ING GET    ING GET    ING VP 
    U.S. Core    U.S. Core    U.S. Core    Global Equity 
    Portfolio -    Portfolio -    Portfolio -    Dividend 
    Series 11    Series 12    Series 13    Portfolio 
Net assets at January 1, 2005    $ -    $ -    $ -    $ 40 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    -    -    -    3 
   Total realized gain (loss) on investments                 
         and capital gains distributions    -    -    -    (1) 
   Net unrealized appreciation (depreciation)                 
         of investments    -    -    -    9 
Net increase (decrease) in net assets from operations    -    -    -    11 
Changes from principal transactions:                 
   Premiums    -    -    -    214 
   Surrenders and withdrawals    -    -    -    4 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    -    (1) 
Increase (decrease) in net assets derived from                 
   principal transactions    -    -    -    217 
Total increase (decrease) in net assets    -    -    -    228 
Net assets at December 31, 2005    -    -    -    268 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (166)    (23)    (18)    6 
   Total realized gain (loss) on investments                 
         and capital gains distributions    312    86    -    6 
   Net unrealized appreciation (depreciation)                 
         of investments    344    128    (27)    63 
Net increase (decrease) in net assets from operations    490    191    (45)    75 
Changes from principal transactions:                 
   Premiums    (1)    -    -    37 
   Surrenders and withdrawals    4,569    (209)    7,859    (4) 
   Death benefits    (393)    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    691    1,189    1,740    - 
Increase (decrease) in net assets derived from                 
   principal transactions    4,866    980    9,599    33 
Total increase (decrease) in net assets    5,356    1,171    9,554    108 
Net assets at December 31, 2006    $ 5,356    $ 1,171    $ 9,554    $ 376 

The accompanying notes are an integral part of these financial statements.

72

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

    ING VP Index        ING VP Index    ING VP 
    Plus    ING VP Index    Plus    Value 
    LargeCap    Plus MidCap    SmallCap    Opportunity 
    Portfolio -    Portfolio -    Portfolio -    Portfolio - 
    Class S    Class S    Class S    Class S 
Net assets at January 1, 2005    $ 570    $ 754    $ 817    $ 36 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (13)    (27)    (30)    - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    19    150    125    3 
   Net unrealized appreciation (depreciation)                 
         of investments    82    85    25    1 
Net increase (decrease) in net assets from operations    88    208    120    4 
Changes from principal transactions:                 
   Premiums    2,410    2,728    2,730    36 
   Surrenders and withdrawals    309    240    131    72 
   Death benefits    (12)    (9)    (9)    - 
   Transfers between Divisions                 
         (including fixed account), net    5    12    20    - 
Increase (decrease) in net assets derived from                 
   principal transactions    2,712    2,971    2,872    108 
Total increase (decrease) in net assets    2,800    3,179    2,992    112 
Net assets at December 31, 2005    3,370    3,933    3,809    148 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (41)    (88)    (95)    - 
   Total realized gain (loss) on investments                 
         and capital gains distributions    85    390    325    2 
   Net unrealized appreciation (depreciation)                 
         of investments    355    41    251    18 
Net increase (decrease) in net assets from operations    399    343    481    20 
Changes from principal transactions:                 
   Premiums    875    1,762    1,519    1 
   Surrenders and withdrawals    (575)    (89)    (348)    (11) 
   Death benefits    (18)    (25)    (68)    - 
   Transfers between Divisions                 
         (including fixed account), net    -    24    2    - 
Increase (decrease) in net assets derived from                 
   principal transactions    282    1,672    1,105    (10) 
Total increase (decrease) in net assets    681    2,015    1,586    10 
Net assets at December 31, 2006    $ 4,051    $ 5,948    $ 5,395    $ 158 

The accompanying notes are an integral part of these financial statements.

73

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B             
                                                                               Statements of Changes in Net Assets         
                                                           For the years ended December 31, 2006 and 2005     
(Dollars in thousands)             
 
 
        ING VP        ING VP    ING VP 
    ING VP    Financial        MidCap    SmallCap 
    Convertible    Services    Opportunities Opportunities 
    Portfolio -    Portfolio -        Portfolio -    Portfolio - 
    Class S    Class S        Class S    Class S 
Net assets at January 1, 2005    $ 217    $ 44    $ 59    $ 22 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    2    -        (1)    (1) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    1    4        2    - 
   Net unrealized appreciation (depreciation)                     
         of investments    (2)    16        3    11 
Net increase (decrease) in net assets from operations    1    20        4    10 
Changes from principal transactions:                     
   Premiums    83    257        -    138 
   Surrenders and withdrawals    3    67        (21)    71 
   Death benefits    -    -        -    - 
   Transfers between Divisions                     
         (including fixed account), net    5    (1)        1    - 
Increase (decrease) in net assets derived from                     
   principal transactions    91    323        (20)    209 
Total increase (decrease) in net assets    92    343        (16)    219 
Net assets at December 31, 2005    309    387        43    241 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    1    (4)        (1)    (8) 
   Total realized gain (loss) on investments                     
         and capital gains distributions    18    58        -    17 
   Net unrealized appreciation (depreciation)                     
         of investments    (3)    47        3    31 
Net increase (decrease) in net assets from operations    16    101        2    40 
Changes from principal transactions:                     
   Premiums    -    306        -    259 
   Surrenders and withdrawals    (323)    343        -    (12) 
   Death benefits    (2)    (70)        -    - 
   Transfers between Divisions                     
         (including fixed account), net    -    -        -    6 
Increase (decrease) in net assets derived from                     
   principal transactions    (325)    579        -    253 
Total increase (decrease) in net assets    (309)    680        2    293 
Net assets at December 31, 2006    $ -    $ 1,067    $ 45    $ 534 

The accompanying notes are an integral part of these financial statements.

74

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

            Legg Mason    Legg Mason 
        ING VP    Partners    Partners 
    ING VP    Intermediate    Variable    Variable 
    Balanced    Bond    Lifestyle    Lifestyle 
    Portfolio -    Portfolio -    Balanced    Growth 
    Class S    Class S    Portfolio    Portfolio 
Net assets at January 1, 2005    $ -    $ -    $ 3,579    $ 1,642 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    -    30    23    (2) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    -    2    (5)    (38) 
   Net unrealized appreciation (depreciation)                 
         of investments    -    (31)    13    87 
Net increase (decrease) in net assets from operations    -    1    31    47 
Changes from principal transactions:                 
   Premiums    -    1,025    7    - 
   Surrenders and withdrawals    -    73    (591)    (308) 
   Death benefits    -    -    (3)    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    (2)    - 
Increase (decrease) in net assets derived from                 
   principal transactions    -    1,098    (589)    (308) 
Total increase (decrease) in net assets    -    1,099    (558)    (261) 
Net assets at December 31, 2005    -    1,099    3,021    1,381 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (4)    101    32    2 
   Total realized gain (loss) on investments                 
         and capital gains distributions    1    (12)    2    (84) 
   Net unrealized appreciation (depreciation)                 
         of investments    17    (11)    133    153 
Net increase (decrease) in net assets from operations    14    78    167    71 
Changes from principal transactions:                 
   Premiums    -    3,556    45    1 
   Surrenders and withdrawals    309    (893)    (612)    (451) 
   Death benefits    -    -    (76)    (28) 
   Transfers between Divisions                 
         (including fixed account), net    -    18    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    309    2,681    (643)    (478) 
Total increase (decrease) in net assets    323    2,759    (476)    (407) 
Net assets at December 31, 2006    $ 323    $ 3,858    $ 2,545    $ 974 

The accompanying notes are an integral part of these financial statements.

75

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B             
                                                                               Statements of Changes in Net Assets         
For the years ended December 31, 2006 and 2005     
(Dollars in thousands)             
 
 
    Legg Mason                Legg Mason 
    Partners    Legg Mason    Legg Mason    Partners 
    Variable    Partners        Partners    Variable 
    Lifestyle High    Variable    Variable High    International All 
    Growth    Appreciation        Income    Cap Growth 
    Portfolio    Portfolio        Portfolio    Portfolio 
Net assets at January 1, 2005    $ 777    $ 3,238    $ 221    $ 216 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    (8)    (21)        14    - 
   Total realized gain (loss) on investments                     
         and capital gains distributions    21    105        (2)    (1) 
   Net unrealized appreciation (depreciation)                     
         of investments    16    -        (9)    21 
Net increase (decrease) in net assets from operations    29    84        3    20 
Changes from principal transactions:                     
   Premiums    10    14        -    - 
   Surrenders and withdrawals    (139)    (527)        (9)    (26) 
   Death benefits    -    (10)        -    (1) 
   Transfers between Divisions                     
         (including fixed account), net    -    (2)        -    - 
Increase (decrease) in net assets derived from                     
   principal transactions    (129)    (525)        (9)    (27) 
Total increase (decrease) in net assets    (100)    (441)        (6)    (7) 
Net assets at December 31, 2005    677    2,797        215    209 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    (3)    (12)        13    1 
   Total realized gain (loss) on investments                     
         and capital gains distributions    13    398        (4)    4 
   Net unrealized appreciation (depreciation)                     
         of investments    27    (264)        9    41 
Net increase (decrease) in net assets from operations    37    122        18    46 
Changes from principal transactions:                     
   Premiums    -    1        -    - 
   Surrenders and withdrawals    (235)    (2,920)        (16)    (36) 
   Death benefits    (32)    -        -    - 
   Transfers between Divisions                     
         (including fixed account), net    -    -        -    - 
Increase (decrease) in net assets derived from                     
   principal transactions    (267)    (2,919)        (16)    (36) 
Total increase (decrease) in net assets    (230)    (2,797)        2    10 
Net assets at December 31, 2006    $ 447    $ -    $ 217    $ 219 

The accompanying notes are an integral part of these financial statements.

76

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B             
                                                                               Statements of Changes in Net Assets         
                                                           For the years ended December 31, 2006 and 2005     
(Dollars in thousands)             
 
 
    Legg Mason    Legg Mason        Colonial    PIMCO 
    Partners    Partners        Small Cap    StocksPLUS® 
    Variable    Variable    Value Fund,    Growth and 
    Large Cap    Money        Variable    Income Portfolio 
    Value    Market    Series - Class    - Administrative 
    Portfolio    Portfolio        B    Class 
Net assets at January 1, 2005    $ 1,048    $ 163    $ -    $ 167 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    (2)    (2)        (4)    1 
   Total realized gain (loss) on investments                     
         and capital gains distributions    (25)    -        -    (5) 
   Net unrealized appreciation (depreciation)                     
         of investments    70    -        14    6 
Net increase (decrease) in net assets from operations    43    (2)        10    2 
Changes from principal transactions:                     
   Premiums    -    -        691    - 
   Surrenders and withdrawals    (289)    (16)        108    (31) 
   Death benefits    (13)    -        -    - 
   Transfers between Divisions                     
         (including fixed account), net    1    -        1    - 
Increase (decrease) in net assets derived from                     
   principal transactions    (301)    (16)        800    (31) 
Total increase (decrease) in net assets    (258)    (18)        810    (29) 
Net assets at December 31, 2005    790    145        810    138 
 
Increase (decrease) in net assets                     
Operations:                     
   Net investment income (loss)    (3)    5        (22)    - 
   Total realized gain (loss) on investments                     
         and capital gains distributions    7    -        52    27 
   Net unrealized appreciation (depreciation)                     
         of investments    106    -        139    (20) 
Net increase (decrease) in net assets from operations    110    5        169    7 
Changes from principal transactions:                     
   Premiums    (1)    -        479    - 
   Surrenders and withdrawals    (212)    38        (61)    (145) 
   Death benefits    (24)    -        -    - 
   Transfers between Divisions                     
         (including fixed account), net    -    -        -    - 
Increase (decrease) in net assets derived from                     
   principal transactions    (237)    38        418    (145) 
Total increase (decrease) in net assets    (127)    43        587    (138) 
Net assets at December 31, 2006    $ 663    $ 188    $ 1,397    $ - 

The accompanying notes are an integral part of these financial statements.

77

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

    Pioneer Small    Pioneer Small         
    Cap Value    Company         
    VCT Portfolio    VCT Portfolio    ProFund VP    ProFund VP 
    - Class II    - Class II    Bull    Europe 30 
Net assets at January 1, 2005    $ -    $ 139    $ 70    $ 235 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    -    (3)    (1)    (1) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    -    19    6    (1) 
   Net unrealized appreciation (depreciation)                 
         of investments    -    (13)    (4)    (2) 
Net increase (decrease) in net assets from operations    -    3    1    (4) 
Changes from principal transactions:                 
   Premiums    -    42    48    52 
   Surrenders and withdrawals    -    (1)    (33)    (194) 
   Death benefits    -    -    -    - 
   Transfers between Divisions                 
         (including fixed account), net    -    1    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    -    42    15    (142) 
Total increase (decrease) in net assets    -    45    16    (146) 
Net assets at December 31, 2005    -    184    86    89 
 
Increase (decrease) in net assets                 
Operations:                 
   Net investment income (loss)    (2)    6    (2)    (2) 
   Total realized gain (loss) on investments                 
         and capital gains distributions    6    5    6    4 
   Net unrealized appreciation (depreciation)                 
         of investments    10    1    6    14 
Net increase (decrease) in net assets from operations    14    12    10    16 
Changes from principal transactions:                 
   Premiums    -    -    13    28 
   Surrenders and withdrawals    191    (196)    1    (1) 
   Death benefits    -    -    (9)    - 
   Transfers between Divisions                 
         (including fixed account), net    -    -    -    - 
Increase (decrease) in net assets derived from                 
   principal transactions    191    (195)    5    27 
Total increase (decrease) in net assets    205    (184)    15    43 
Net assets at December 31, 2006    $ 205    $ -    $ 101    $ 132 

The accompanying notes are an integral part of these financial statements.

78

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

     Statements of Changes in Net Assets For the years ended December 31, 2006 and 2005

(Dollars in thousands)

            Putnam VT 
            International 
            Growth and 
    ProFund VP        Income Fund 
    Rising Rates    ProFund VP    - Class IB 
    Opportunity    Small-Cap    Shares 
Net assets at January 1, 2005    $ 133    $ 138    $ 11 
 
Increase (decrease) in net assets             
Operations:             
   Net investment income (loss)    (4)    (2)    - 
   Total realized gain (loss) on investments             
         and capital gains distributions    (15)    27    - 
   Net unrealized appreciation (depreciation)             
         of investments    (1)    (18)    1 
Net increase (decrease) in net assets from operations    (20)    7    1 
Changes from principal transactions:             
   Premiums    189    71    - 
   Surrenders and withdrawals    (9)    (2)    - 
   Death benefits    -    (20)    - 
   Transfers between Divisions             
         (including fixed account), net    -    (1)    - 
Increase (decrease) in net assets derived from             
   principal transactions    180    48    - 
Total increase (decrease) in net assets    160    55    1 
Net assets at December 31, 2005    293    193    12 
 
Increase (decrease) in net assets             
Operations:             
   Net investment income (loss)    -    (5)    - 
   Total realized gain (loss) on investments             
         and capital gains distributions    (2)    5    5 
   Net unrealized appreciation (depreciation)             
         of investments    25    27    (3) 
Net increase (decrease) in net assets from operations    23    27    2 
Changes from principal transactions:             
   Premiums    121    74    - 
   Surrenders and withdrawals    60    15    (14) 
   Death benefits    (2)    -    - 
   Transfers between Divisions             
         (including fixed account), net    -    -    - 
Increase (decrease) in net assets derived from             
   principal transactions    179    89    (14) 
Total increase (decrease) in net assets    202    116    (12) 
Net assets at December 31, 2006    $ 495    $ 309    $ - 

The accompanying notes are an integral part of these financial statements.

79

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Notes to Financial Statements

1. Organization

ReliaStar Life Insurance Company of New York Separate Account NY-B (the “Account”) was established by First Golden American Life Insurance Company of New York (“First Golden”) to support the operations of variable annuity contracts (“Contracts”). The Account became a separate account of ReliaStar Life Insurance Company of New York (“RLNY” or the “Company”) as a result of the merger of First Golden into RLNY effective April 1, 2002. RLNY is an indirect, wholly owned subsidiary of ING America Insurance Holdings, Inc. (“ING AIH”), an insurance holding company domiciled in the State of Delaware. ING AIH is an indirect wholly owned subsidiary of ING Groep, N.V., a global financial services holding company based in The Netherlands.

Operations of the Account commenced on May 19, 1997. The Account is registered as a unit investment trust with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended. RLNY provides for variable accumulation and benefits under the Contracts by crediting annuity considerations to one or more divisions within the Account or the RLNY fixed separate account, which is not part of the Account, as directed by the contractowners. The portion of the Account’s assets applicable to Contracts will not be chargeable with liabilities arising out of any other business RLNY may conduct, but obligations of the Account, including the promise to make benefit payments, are obligations of RLNY. The assets and liabilities of the Account are clearly identified and distinguished from the other assets and liabilities of RLNY.

At December 31, 2006, the Account had, under ING GoldenSelect, ING SmartDesign, and Empire PrimElite Contracts, 112 investment divisions (the “Divisions”), 17 of which invest in independently managed mutual funds and 95 of which invest in mutual funds managed by an affiliate, either Directed Services, LLC or ING Investments, LLC. The assets in each Division are invested in shares of a designated Series (“Series,” which may also be referred to as “Portfolio”) of various investment trusts (the “Trusts”). Investment Divisions at December 31, 2006 and related Trusts are as follows:

AIM Variable Insurance Funds:    ING Investors Trust (continued): 
   AIM V.I. Leisure Fund - Series I Shares       ING BlackRock Large Cap Growth 
Fidelity® Variable Insurance Products:             Portfolio - Service Class* 
   Fidelity® VIP Equity-Income Portfolio - Service Class 2       ING BlackRock Large Cap Value 
Fidelity® Variable Insurance Products II:           Portfolio - Service Class* 
   Fidelity® VIP Contrafund® Portfolio - Service Class 2       ING Capital Guardian Small/Mid Cap 
Franklin Templeton Variable Insurance Products Trust:             Portfolio - Service Class 
   Mutual Shares Securities Fund - Class 2**       ING Capital Guardian U.S. Equities 
ING Investors Trust:           Portfolio - Service Class 
   ING AllianceBernstein Mid Cap Growth       ING EquitiesPlus Portfolio - Service Class** 
         Portfolio - Service Class       ING Evergreen Health Sciences Portfolio - Service Class 
   ING American Funds Growth Portfolio       ING Evergreen Omega Portfolio - Service Class* 
   ING American Funds Growth-Income Portfolio       ING FMRSM Diversified Mid Cap Portfolio - Service Class 
   ING American Funds International Portfolio       ING FMRSM Large Cap Growth Portfolio - Service Class* 

80

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

SEPARATE ACCOUNT NY-B
Notes to Financial Statements

ING Investors Trust (continued):    ING Partners, Inc.: 
   ING FMRSM Mid Cap Growth Portfolio - Service Class       ING Baron Small Cap Growth Portfolio - Service Class* 
   ING Franklin Income Portfolio - Service Class**       ING Columbia Small Cap Value II 
   ING Global Real Estate Portfolio - Service Class**             Portfolio - Service Class** 
   ING Global Resources Portfolio - Service Class       ING Davis Venture Value Portfolio - Service Class* 
   ING Global Technology Portfolio - Service Class       ING Fundamental Research Portfolio - Initial Class** 
   ING International Portfolio - Service Class       ING Fundamental Research Portfolio - Service Class* 
   ING Janus Contrarian Portfolio - Service Class       ING JPMorgan International Portfolio - Service Class 
   ING JPMorgan Emerging Markets Equity       ING JPMorgan Mid Cap Value Portfolio - Service Class 
       Portfolio - Service Class       ING Legg Mason Partners Aggressive Growth 
   ING JPMorgan Small Cap Core Equity           Portfolio - Service Class 
         Portfolio - Service Class       ING Neuberger Berman Partners 
   ING JPMorgan Value Opportunities             Portfolio - Service Class** 
         Portfolio - Service Class*       ING Neuberger Berman Regency 
   ING Julius Baer Foreign Portfolio - Service Class             Portfolio - Service Class** 
   ING Legg Mason Partners All Cap       ING Oppenheimer Global Portfolio - Initial Class* 
         Portfolio - Service Class       ING Oppenheimer Global Portfolio - Service Class 
   ING Legg Mason Value Portfolio - Service Class       ING Templeton Foreign Equity 
   ING LifeStyle Aggressive Growth           Portfolio - Service Class** 
         Portfolio - Service Class       ING Thornburg Value Portfolio - Initial Class 
   ING LifeStyle Growth Portfolio - Service Class       ING UBS U.S. Large Cap Equity 
   ING LifeStyle Moderate Growth           Portfolio - Service Class 
         Portfolio - Service Class       ING UBS U.S. Small Cap Growth 
   ING LifeStyle Moderate Portfolio - Service Class           Portfolio - Service Class** 
   ING Limited Maturity Bond Portfolio - Service Class       ING Van Kampen Comstock Portfolio - Service Class 
   ING Liquid Assets Portfolio - Service Class       ING Van Kampen Equity and Income 
   ING Lord Abbett Affiliated Portfolio - Service Class           Portfolio - Service Class* 
   ING MarketPro Portfolio - Service Class**    ING Variable Insurance Trust: 
   ING Marsico Growth Portfolio - Service Class       ING GET U.S. Core Portfolio - Series 1 
   ING Marsico International Opportunities       ING GET U.S. Core Portfolio - Series 2 
         Portfolio - Service Class*       ING GET U.S. Core Portfolio - Series 3 
   ING MFS Total Return Portfolio - Service Class       ING GET U.S. Core Portfolio - Series 4 
   ING MFS Utilities Portfolio - Service Class*       ING GET U.S. Core Portfolio - Series 5 
   ING Oppenheimer Main Street Portfolio® - Service Class       ING GET U.S. Core Portfolio - Series 6 
   ING PIMCO Core Bond Portfolio - Service Class       ING GET U.S. Core Portfolio - Series 7* 
   ING PIMCO High Yield Portfolio - Service Class       ING GET U.S. Core Portfolio - Series 8* 
   ING Pioneer Fund Portfolio - Service Class*       ING GET U.S. Core Portfolio - Series 9* 
   ING Pioneer Mid Cap Value Portfolio - Service Class*       ING GET U.S. Core Portfolio - Series 10* 
   ING T. Rowe Price Capital Appreciation       ING GET U.S. Core Portfolio - Series 11** 
         Portfolio - Service Class       ING GET U.S. Core Portfolio - Series 12** 
   ING T. Rowe Price Equity Income       ING GET U.S. Core Portfolio - Series 13** 
         Portfolio - Service Class       ING VP Global Equity Dividend Portfolio 
   ING Templeton Global Growth Portfolio - Service Class    ING Variable Portfolios, Inc.: 
   ING UBS U.S. Allocation Portfolio - Service Class       ING VP Index Plus LargeCap Portfolio - Class S 
   ING Van Kampen Equity Growth       ING VP Index Plus MidCap Portfolio - Class S 
         Portfolio - Service Class*       ING VP Index Plus SmallCap Portfolio - Class S 
   ING Van Kampen Global Franchise       ING VP Value Opportunity Portfolio - Class S 
         Portfolio - Service Class*    ING Variable Products Trust: 
   ING Van Kampen Growth and Income       ING VP Financial Services Portfolio - Class S 
         Portfolio - Service Class       ING VP MidCap Opportunities Portfolio - Class S 
   ING Van Kampen Real Estate Portfolio - Service Class       ING VP SmallCap Opportunities Portfolio - Class S 
   ING VP Index Plus International Equity    ING VP Balanced Portfolio, Inc.: 
         Portfolio - Service Class**       ING VP Balanced Portfolio - Class S** 
   ING Wells Fargo Mid Cap Disciplined    ING VP Intermediate Bond Portfolio: 
         Portfolio - Service Class       ING VP Intermediate Bond Portfolio - Class S* 
   ING Wells Fargo Small Cap Disciplined     
         Portfolio - Service Class**     

81

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Notes to Financial Statements

Legg Mason Partners Lifestyle Series, Inc.:    Liberty Variable Insurance Trust: 
   Legg Mason Partners Variable Lifestyle Balanced        Colonial Small Cap Value Fund, Variable 
       Portfolio           Series - Class B* 
   Legg Mason Partners Variable Lifestyle Growth Portfolio    Pioneer Variable Contracts Trust: 
   Legg Mason Partners Variable Lifestyle High Growth        Pioneer Small Cap Value VCT Portfolio - Class II** 
       Portfolio    ProFunds: 
Legg Mason Partners Variable Portfolios III:        ProFund VP Bull 
   Legg Mason Partners Variable High Income Portfolio        ProFund VP Europe 30 
   Legg Mason Partners Variable International All Cap        ProFund VP Rising Rates Opportunity 
       Growth Portfolio        ProFund VP Small-Cap 
   Legg Mason Partners Variable Large Cap Value         
       Portfolio    *       Division was added in 2005 
   Legg Mason Partners Variable Money Market Portfolio    **       Division was added in 2006 

The names of certain Divisions and Trusts were changed during 2006. The following is a summary of current and former names for those Divisions and Trusts:

Current Name Former Name

ING Investors Trust:    ING Investors Trust: 
   ING BlackRock Large Cap Growth       ING Mercury Large Cap Growth Portfolio - Service Class 
         Portfolio - Service Class     
   ING BlackRock Large Cap Value       ING Mercury Large Cap Value Portfolio - Service Class 
         Portfolio - Service Class     
   ING FMRSM Large Cap Growth       ING FMRSM Earnings Growth Portfolio - Service Class 
         Portfolio - Service Class     
   ING FMRSM Mid Cap Growth Portfolio - Service Class       ING MFS Mid Cap Growth Portfolio - Service Class 
   ING Global Technology Portfolio - Service Class       ING Goldman Sachs TollkeeperSM Portfolio - Service Class 
   ING JPMorgan Small Cap Core Equity       ING JP Morgan Small Cap Equity Portfolio - Service Class 
         Portfolio - Service Class     
   ING Legg Mason Partners All Cap    ING Salomon Brothers All Cap Portfolio - Service Class 
         Portfolio - Service Class     
ING Partners, Inc.:    ING Partners, Inc.: 
   ING JP Morgan International       ING JPMorgan Fleming International 
         Portfolio - Service Class    Portfolio - Service Class 
   ING Legg Mason Partners Aggressive Growth       ING Salomon Brothers Aggressive Growth 
         Portfolio - Service Class    Portfolio - Service Class 
   ING Thornburg Value Portfolio - Initial Class       ING MFS Capital Opportunities Portfolio - Initial Class 
Legg Mason Partners Lifestyle Series Inc.:    Smith Barney Allocation Series, Inc.: 
   Legg Mason Partners Variable Lifestyle Balanced       Smith Barney Select Balanced 
         Portfolio     
   Legg Mason Partners Variable Lifestyle Growth       Smith Barney Select Growth 
         Portfolio     
   Legg Mason Partners Variable Lifestyle High Growth       Smith Barney Select High Growth 
         Portfolio     
Legg Mason Partners Variable Portfolios II:    Greenwich Street Series Fund: 
   Legg Mason Partners Variable Appreciation Portfolio       Appreciation Portfolio 
Legg Mason Partners Variable Portfolios III:    Travelers Series Fund, Inc.: 
   Legg Mason Partners Variable High Income Portfolio       Smith Barney High Income 
   Legg Mason Partners Variable International All Cap       Smith Barney International All Cap Growth 
         Growth Portfolio     
   Legg Mason Partners Variable Large Cap Value       Smith Barney Large Cap Value SB 
         Portfolio     
   Legg Mason Partners Variable Money Market       Smith Barney Money Market SB 
         Portfolio     

82

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Notes to Financial Statements

During 2006, the following Divisions were closed to contractowners:

Fidelity® Variable Insurance Products:    PIMCO Variable Insurance Trust: 
   Fidelity® VIP Growth Portfolio - Service Class 2       PIMCO StocksPLUS® Growth and Income 
ING Investors Trust:           Portfolio - Administrative Class 
   ING Eagle Asset Capital Appreciation    Pioneer Variable Contracts Trust: 
         Portfolio - Service Class       Pioneer Small Company VCT Portfolio - Class II 
ING Variable Products Trust:    Putnam Variable Trust: 
   ING VP Convertible Portfolio - Class S       Putnam VT International Growth and Income 
Legg Mason Partners Variable Portfolios II:    Fund - Class IB Shares 
   Legg Mason Partners Variable Appreciation Portfolio     

The following Divisions were available to contractowners during 2006 but did not have any activity as of December 31, 2006:

  ING GET U.S. Core Portfolio - Series 14
ING MarketStyle Growth Portfolio - Service Class
ING MarketStyle Moderate Growth Portfolio - Service Class
ING MarketStyle Moderate Portfolio - Service Class

2. Significant Accounting Policies

The following is a summary of the significant accounting policies of the Account:

  Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from reported results using those estimates.

  Investments

Investments are made in shares of a Portfolio and are recorded at fair value, determined by the net asset value per share of the respective Portfolio. Investment transactions in each Portfolio are recorded on the trade date. Distributions of net investment income and capital gains from each Portfolio are recognized on the ex-distribution date. Realized gains and losses on redemptions of the shares of the Portfolio are determined on a first-in, first-out basis. The difference between cost and current market value of investments owned on the day of measurement is recorded as unrealized appreciation or depreciation of investments.

  Federal Income Taxes

Operations of the Account form a part of, and are taxed with, the total operations of RLNY, which is taxed as a life insurance company under the Internal Revenue Code.

83

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Notes to Financial Statements

Earnings and realized capital gains of the Account attributable to the contractowners are excluded in the determination of the federal income tax liability of RLNY.

  Contractowner Reserves

Prior to the annuity date, the Contracts are redeemable for the net cash surrender value of the Contracts. The annuity reserves of the Account are represented by net assets on the Statements of Assets and Liabilities and are equal to the contractowners’ aggregate account values of the contractowners invested in the Account Divisions. To the extent that benefits to be paid to the contractowners exceed their account values, RLNY will contribute additional funds to the benefit proceeds. Conversely, if amounts allocated exceed amounts required, transfers may be made to RLNY.

All Contracts in the Account are currently in the accumulation period.

  Changes from Principal Transactions

Included in Changes from Principal Transactions on the Statements of Changes in Net Assets are items which relate to contractowner activity, including deposits, surrenders and withdrawals, benefits, and contract charges. Also included are transfers between the fixed account and the Divisions, transfers between Divisions, and transfers to (from) RLNY related to gains and losses resulting from actual mortality experience (the full responsibility for which is assumed by RLNY). Any net unsettled transactions as of the reporting date are included in Payable to related parties on the Statements of Assets and Liabilities.

3. Charges and Fees

Under the terms of the Contracts, certain charges are allocated to the Contracts to cover RLNY’s expenses in connection with the issuance and administration of the Contracts. Following is a summary of these charges:

  Mortality and Expense Risk Charges

RLNY assumes mortality and expense risks related to the operations of the Account and, in accordance with the terms of the Contracts, deducts a daily charge from the assets of the Account. Daily charges are deducted at annual rates of up to 1.85% of the average daily net asset value of each Division of the Account to cover these risks, as specified in the Contracts.

  Asset Based Administrative Charges

A daily charge to cover administrative expenses of the Account is deducted at an annual rate of 0.15% of assets attributable to the Contracts.

84

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Notes to Financial Statements

  Contract Maintenance Charges

An annual Contract maintenance fee of $30 may be deducted from the accumulation value of Contracts to cover ongoing administrative expenses, as specified in the Contracts.

  Contingent Deferred Sales Charges

A contingent deferred sales charge (“Surrender Charge”) is imposed as a percentage of each premium payment if the Contract is surrendered or an excess partial withdrawal is taken during the seven-year period from the date a premium payment is received, as specified in the Contracts. For DVA Plus Contracts, the Surrender Charge is imposed at a rate of 7% during the first year of purchase, declining to 6%, 5%, 4%, 3%, 2%, and 1% in the second, third, fourth, fifth, sixth, and seventh years, respectively. For Empire VA Contracts, the Surrender Charge is imposed at a rate of 6% during the first year of purchase, declining to 5% and 4% in the second and third years, respectively. For SmartDesign VA Contracts, the Surrender Charge is imposed at a rate of 6% in the year of purchase through the fourth year, declining to 5%, 4%, and 3% in the fifth, sixth, and seventh years, respectively. For Simplicity VA Contracts, the Surrender Charge is imposed at a rate of 6% in the year of purchase through the second year, declining to 5%, 4%, and 3% in the third, fourth, and fifth years, respectively.

  Transfer Charges

A transfer charge of up to $25 may be imposed on each transfer between Divisions in excess of twelve in any one calendar year.

  Premium Taxes

For certain Contracts, premium taxes are deducted, where applicable, from the accumulation value of each Contract. The amount and timing of the deduction depends on the contractowner’s state of residence and currently ranges up to 3.5% of premiums.

  Other Contract Charges

For certain Contracts, an additional annual charge of 0.50% is deducted daily from the accumulation value for amounts invested in the ING GET U.S. Core Portfolio Funds. In addition, an annual charge of up to 0.50% is deducted daily from the accumulation value for contractowners who select the Optional Asset-Backed Premium Credit feature.

85

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Notes to Financial Statements

4. Related Party Transactions

During the year ended December 31, 2006, management fees were paid indirectly to ING Investments, LLC, an affiliate of the Company, in its capacity as investment adviser to the ING Variable Insurance Trust, ING Variable Portfolios, Inc., ING Variable Products Trust, ING VP Balanced Portfolio, Inc., and ING VP Intermediate Bond Portfolio. The annual fee rate ranged from 0.35% to 1.00% of the average net assets of each respective Portfolio of the Trust.

In addition, management fees were paid to ING Life Insurance and Annuity Company (“ILIAC”), an affiliate of the Company, in its capacity as investment adviser to ING Partners, Inc. The annual fee rate ranged from 0.55% to 0.90% of the average net assets of each respective Portfolio of the Trust.

Management fees were also paid indirectly to Directed Services, Inc. (“DSI”), an affiliate of the Company, in its capacity as investment manager to ING Investors Trust. The Portfolio’s advisory agreement provided for a fee at an annual rate ranging from 0.00% to 1.25% of the average net assets of each respective Portfolio excluding ING American Funds Growth Portfolio, ING American Funds Growth-Income Portfolio, and ING American Funds International Portfolio.

On November 9, 2006, the Board of Trustees of ING Partners, Inc. and ING Investors Trust approved a consolidation of the Advisory functions for all of the Portfolios. Effective December 31, 2006 DSI was reorganized into a limited liability corporation, renamed to Directed Services, LLC (“DSL”) and transferred so that it became a wholly owned subsidiary of ILIAC. As a result of this action, the functions of DSI and ILIAC were consolidated into DSL effective December 31, 2006. DSL is a dually registered investment adviser and broker-dealer. DSI’s current advisory contracts will remain within the newly organized DSL, and ILIAC’s advisory contracts will be assumed by DSL.

86

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Notes to Financial Statements

5. Purchases and Sales of Investment Securities

The aggregate cost of purchases and proceeds from sales of investments follow:

        Year ended December 31     
        2006        2005     
    Purchases    Sales    Purchases    Sales 
            (Dollars in thousands)     
AIM Variable Insurance Funds:                     
     AIM V.I. Leisure Fund - Series I Shares    $ 138    $ 82    $ 274 $    12 
Fidelity® Variable Insurance Products:                     
     Fidelity® VIP Equity-Income Portfolio - Service Class 2    2,429        619    1,614    159 
     Fidelity® VIP Growth Portfolio - Service Class 2    2        1,446    318    119 
Fidelity® Variable Insurance Products II:                     
     Fidelity® VIP Contrafund® Portfolio - Service Class 2    8,435        361    3,413    157 
Franklin Templeton Variable Insurance Products Trust:                     
     Mutual Shares Securities Fund - Class 2    974        5    -    - 
ING Investors Trust:                     
     ING AllianceBernstein Mid Cap Growth                     
           Portfolio - Service Class    1,556        442    735    272 
     ING American Funds Growth Portfolio    14,517        1,159    8,623    95 
     ING American Funds Growth-Income Portfolio    9,376        1,004    8,067    85 
     ING American Funds International Portfolio    6,505        629    4,212    43 
     ING BlackRock Large Cap Growth Portfolio - Service Class    273        21    290    39 
     ING BlackRock Large Cap Value Portfolio - Service Class    283        53    147    1 
     ING Capital Guardian Small/Mid Cap Portfolio - Service Class    85        500    263    169 
     ING Capital Guardian U.S. Equities Portfolio - Service Class    311        158    191    174 
     ING Eagle Asset Capital Appreciation Portfolio - Service Class    164        813    424    202 
     ING EquitiesPlus Portfolio - Service Class    190        41    -    - 
     ING Evergreen Health Sciences Portfolio - Service Class    1,698        434    1,422    227 
     ING Evergreen Omega Portfolio - Service Class    95        99    281    209 
     ING FMRSM Diversified Mid Cap Portfolio - Service Class    3,325        153    1,879    169 
     ING FMRSM Large Cap Growth Portfolio - Service Class    441        255    415    4 
     ING FMRSM Mid Cap Growth Portfolio - Service Class    1,164        453    73    196 
     ING Franklin Income Portfolio - Service Class    2,687        25    -    - 
     ING Global Real Estate Portfolio - Service Class    1,828        105    -    - 
     ING Global Resources Portfolio - Service Class    2,508        390    943    244 
     ING Global Technology Portfolio - Service Class    354        314    146    44 
     ING International Portfolio - Service Class    37        6    16    3 
     ING Janus Contrarian Portfolio - Service Class    502        95    187    5 
     ING JPMorgan Emerging Markets Equity                     
           Portfolio - Service Class    4,116        658    714    87 
     ING JPMorgan Small Cap Core Equity Portfolio - Service Class    3,710        785    2,396    33 

87

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK             
SEPARATE ACCOUNT NY-B                     
Notes to Financial Statements                     
 
 
             Year ended December 31     
        2006        2005     
    Purchases     Sales    Purchases    Sales 
            (Dollars in thousands)     
                   ING Investors Trust (continued):                     
                         ING JPMorgan Value Opportunities Portfolio - Service Class    $ 662    $ 1,017    $ 1,774 $    46 
                         ING Julius Baer Foreign Portfolio - Service Class    3,571        308    1,953    141 
                         ING Legg Mason Partners All Cap Portfolio - Service Class    851        191    548    185 
                         ING Legg Mason Value Portfolio - Service Class    3,634        668    2,493    41 
                         ING LifeStyle Aggressive Growth Portfolio - Service Class    11,011        537    5,066    348 
                         ING LifeStyle Growth Portfolio - Service Class    22,628        557    9,768    155 
                         ING LifeStyle Moderate Growth Portfolio - Service Class    23,248        852    11,561    138 
                         ING LifeStyle Moderate Portfolio - Service Class    7,925        530    6,336    323 
                         ING Limited Maturity Bond Portfolio - Service Class    39        228    65    275 
                         ING Liquid Assets Portfolio - Service Class    18,333        15,374    7,645    4,807 
                         ING Lord Abbett Affiliated Portfolio - Service Class    323        86    127    124 
                         ING MarketPro Portfolio - Service Class    262        2    -    - 
                         ING Marsico Growth Portfolio - Service Class    2,140        1,253    1,361    351 
                         ING Marsico International Opportunities                     
                               Portfolio - Service Class    1,255        252    1,673    23 
                         ING MFS Total Return Portfolio - Service Class    2,912        1,083    4,054    340 
                         ING MFS Utilities Portfolio - Service Class    2,165        249    1,044    47 
                         ING Oppenheimer Main Street Portfolio® - Service Class    2,605        506    603    286 
                         ING PIMCO Core Bond Portfolio - Service Class    2,660        554    3,678    764 
                         ING PIMCO High Yield Portfolio - Service Class    2,150        390    1,746    203 
                         ING Pioneer Fund Portfolio - Service Class    80        41    75    - 
                         ING Pioneer Mid Cap Value Portfolio - Service Class    2,353        324    1,455    16 
                         ING T. Rowe Price Capital Appreciation                     
                               Portfolio - Service Class    7,192        360    2,059    163 
                         ING T. Rowe Price Equity Income Portfolio - Service Class    2,833        749    3,195    195 
                         ING Templeton Global Growth Portfolio - Service Class    2,584        176    64    64 
                         ING UBS U.S. Allocation Portfolio - Service Class    163        139    284    21 
                         ING Van Kampen Equity Growth Portfolio - Service Class    271        83    225    23 
                         ING Van Kampen Global Franchise Portfolio - Service Class    1,222        211    417    1 
                         ING Van Kampen Growth and Income Portfolio - Service Class    818        543    583    199 
                         ING Van Kampen Real Estate Portfolio - Service Class    3,175        1,066    1,700    484 
                         ING VP Index Plus International Equity                     
                               Portfolio - Service Class    374        4    -    - 
                         ING Wells Fargo Mid Cap Disciplined Portfolio - Service Class    1,204        137    81    82 
                         ING Wells Fargo Small Cap Disciplined                     
                               Portfolio - Service Class    347        27    -    - 
                   ING Partners, Inc.:                     
                         ING Baron Small Cap Growth Portfolio - Service Class    3,170        321    787    7 
                         ING Columbia Small Cap Value II Portfolio - Service Class    827        14    -    - 
                         ING Davis Venture Value Portfolio - Service Class    2,517        194    11    - 
                         ING Fundamental Research Portfolio - Initial Class    2,782        497    -    - 
                         ING Fundamental Research Portfolio - Service Class    2        24    26    - 
                         ING JPMorgan International Portfolio - Service Class    1,264        74    748    23 

88

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK             
SEPARATE ACCOUNT NY-B                     
Notes to Financial Statements                     
 
 
        Year ended December 31     
        2006        2005     
    Purchases    Sales    Purchases    Sales 
            (Dollars in thousands)     
                   ING Partners, Inc. (continued):                     
                         ING JPMorgan Mid Cap Value Portfolio - Service Class    $ 7    $ 82    $ 683 $    206 
                         ING Legg Mason Partners Aggressive Growth                     
                               Portfolio - Service Class    464        209    642    10 
                         ING Neuberger Berman Partners Portfolio - Service Class    819        3    -    - 
                         ING Neuberger Berman Regency Portfolio - Service Class    44        -    -    - 
                         ING Oppenheimer Global Portfolio - Initial Class    4        51    409    180 
                         ING Oppenheimer Global Portfolio - Service Class    5,064        234    2,499    255 
                         ING Templeton Foreign Equity Portfolio - Service Class    432        10    -    - 
                         ING Thornburg Value Portfolio - Initial Class    1        17    7    1 
                         ING UBS U.S. Large Cap Equity Portfolio - Service Class    166        30    342    62 
                         ING UBS U.S. Small Cap Growth Portfolio - Service Class    6        -    -    - 
                         ING Van Kampen Comstock Portfolio - Service Class    1,511        383    2,014    46 
                         ING Van Kampen Equity and Income Portfolio - Service Class    216        82    370    2 
                   ING Variable Insurance Trust:                     
                         ING GET U.S. Core Portfolio - Series 1    159        567    265    844 
                         ING GET U.S. Core Portfolio - Series 2    214        1,127    368    1,832 
                         ING GET U.S. Core Portfolio - Series 3    497        3,204    124    1,101 
                         ING GET U.S. Core Portfolio - Series 4    175        1,386    111    1,389 
                         ING GET U.S. Core Portfolio - Series 5    244        1,578    142    1,827 
                         ING GET U.S. Core Portfolio - Series 6    74        2,480    20    1,337 
                         ING GET U.S. Core Portfolio - Series 7    91        3,416    7,347    912 
                         ING GET U.S. Core Portfolio - Series 8    16        2,393    3,032    139 
                         ING GET U.S. Core Portfolio - Series 9    7        1,246    1,584    27 
                         ING GET U.S. Core Portfolio - Series 10    10        1,978    2,861    23 
                         ING GET U.S. Core Portfolio - Series 11    10,410        5,709    -    - 
                         ING GET U.S. Core Portfolio - Series 12    2,389        1,431    -    - 
                         ING GET U.S. Core Portfolio - Series 13    9,599        16    -    - 
                         ING VP Global Equity Dividend Portfolio    75        36    228    8 
                   ING Variable Portfolios, Inc.:                     
                         ING VP Index Plus LargeCap Portfolio - Class S    979        736    2,877    178 
                         ING VP Index Plus MidCap Portfolio - Class S    2,300        371    3,269    213 
                         ING VP Index Plus SmallCap Portfolio - Class S    1,742        500    3,173    249 
                         ING VP Value Opportunity Portfolio - Class S    7        17    164    57 
                   ING Variable Products Trust:                     
                         ING VP Convertible Portfolio - Class S    37        333    107    14 
                         ING VP Financial Services Portfolio - Class S    950        371    381    53 
                         ING VP MidCap Opportunities Portfolio - Class S    -        1    -    22 
                         ING VP SmallCap Opportunities Portfolio - Class S    334        89    209    1 

89

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK             
SEPARATE ACCOUNT NY-B                     
Notes to Financial Statements                     
 
 
        Year ended December 31     
        2006        2005     
    Purchases    Sales    Purchases    Sales 
            (Dollars in thousands)     
                   ING VP Balanced Portfolio, Inc.:                     
                         ING VP Balanced Portfolio - Class S    $ 329    $ 24    $ - $    - 
                   ING VP Intermediate Bond Portfolio:                     
                         ING VP Intermediate Bond Portfolio - Class S    3,921        1,139    1,331    201 
                   Legg Mason Partners Lifestyle Series, Inc.:                     
                         Legg Mason Partners Variable Lifestyle Balanced Portfolio    112        724    101    665 
                         Legg Mason Partners Variable Lifestyle Growth Portfolio    19        494    51    360 
                         Legg Mason Partners Variable Lifestyle High Growth Portfolio    6        276    14    151 
                   Legg Mason Partners Variable Portfolios II:                     
                         Legg Mason Partners Variable Appreciation Portfolio    1        2,933    38    583 
                   Legg Mason Partners Variable Portfolios III:                     
                         Legg Mason Partners Variable High Income Portfolio    17        21    17    12 
                         Legg Mason Partners Variable International All Cap Growth                     
                               Portfolio    19        49    3    30 
                         Legg Mason Partners Variable Large Cap Value Portfolio    20        247    40    344 
                         Legg Mason Partners Variable Money Market Portfolio    61        19    7    25 
                   Liberty Variable Investment Trust:                     
                         Colonial Small Cap Value Fund, Variable Series - Class B    536        105    798    1 
                   PIMCO Variable Insurance Trust:                     
                         PIMCO StocksPLUS® Growth and Income                     
Portfolio - Administrative Class    1        145    3    33 
                   Pioneer Variable Contracts Trust:                     
                         Pioneer Small Cap Value VCT Portfolio - Class II    200        5    -    - 
                         Pioneer Small Company VCT Portfolio - Class II    9        199    63    6 
                   ProFunds:                     
                         ProFund VP Bull    20        11    106    92 
                         ProFund VP Europe 30    43        14    283    422 
                         ProFund VP Rising Rates Opportunity    213        34    250    74 
                         ProFund VP Small-Cap    99        11    109    43 
                   Putnam Variable Trust:                     
                         Putnam VT International Growth and Income                     
Fund - Class IB Shares    -    14    -    - 

90

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK SEPARATE ACCOUNT NY-B

Notes to Financial Statements

6. Changes in Units

  The net changes in units outstanding follow:

            Year ended December 31         
        2006            2005     
       Units       Units    Net Increase    Units       Units    Net Increase 
       Issued    Redeemed    (Decrease)    Issued    Redeemed    (Decrease) 
AIM Variable Insurance Funds:                         
   AIM V.I. Leisure Fund - Series I Shares    10,506    7,021    3,485    27,180    4,984    22,196 
Fidelity® Variable Insurance Products:                         
   Fidelity® VIP Equity-Income Portfolio - Service Class 2    622,560    522,786    99,774    170,793    41,421    129,372 
   Fidelity® VIP Growth Portfolio - Service Class 2    51,557    210,190    (158,633)    57,755    32,053    25,702 
Fidelity® Variable Insurance Products II:                         
   Fidelity® VIP Contrafund® Portfolio - Service Class 2    670,357    163,199    507,158    306,597    41,092    265,509 
Franklin Templeton Variable Insurance Products Trust:                         
   Mutual Shares Securities Fund - Class 2    96,984    3,203    93,781    -    -    - 
ING Investors Trust:                         
   ING AllianceBernstein Mid Cap Growth Portfolio - Service Class    117,042    40,922    76,120    63,470    19,813    43,657 
   ING American Funds Growth Portfolio    1,258,850    243,730    1,015,120    838,860    115,900    722,960 
   ING American Funds Growth-Income Portfolio    937,610    243,236    694,374    833,409    109,376    724,033 
   ING American Funds International Portfolio    514,148    123,911    390,237    392,381    56,460    335,921 
   ING BlackRock Large Cap Growth Portfolio - Service Class    21,864    2,357    19,507    24,543    1,537    23,006 
   ING BlackRock Large Cap Value Portfolio - Service Class    25,030    6,585    18,445    13,769    202    13,567 
   ING Capital Guardian Small/Mid Cap Portfolio - Service Class    8,488    27,283    (18,795)    27,020    9,646    17,374 
   ING Capital Guardian U.S. Equities Portfolio - Service Class    24,269    14,531    9,738    18,065    15,597    2,468 
   ING Eagle Asset Capital Appreciation Portfolio - Service Class    3,446    44,815    (41,369)    30,549    10,377    20,172 
   ING EquitiesPlus Portfolio - Service Class    19,076    3,763    15,313    -    -    - 
   ING Evergreen Health Sciences Portfolio - Service Class    166,231    52,892    113,339    135,047    24,245    110,802 
   ING Evergreen Omega Portfolio - Service Class    9,036    8,838    198    27,446    20,586    6,860 
   ING FMRSM Diversified Mid Cap Portfolio - Service Class    257,501    31,063    226,438    165,672    21,205    144,467 
   ING FMRSM Large Cap Growth Portfolio - Service Class    44,218    26,772    17,446    40,197    246    39,951 
   ING FMRSM Mid Cap Growth Portfolio - Service Class    106,077    23,937    82,140    7,384    7,742    (356) 

91

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                         
SEPARATE ACCOUNT NY-B                         
Notes to Financial Statements                         
 
 
            Year ended December 31         
        2006            2005     
    Units       Units    Net Increase       Units       Units    Net Increase 
       Issued    Redeemed    (Decrease)       Issued    Redeemed    (Decrease) 
                   ING Investors Trust (continued):                         
                       ING Franklin Income Portfolio - Service Class    265,327    7,902    257,425    -    -    - 
                       ING Global Real Estate Portfolio - Service Class    171,209    22,760    148,449    -    -    - 
                       ING Global Resources Portfolio - Service Class    167,206    38,703    128,503    76,277    21,645    54,632 
                       ING Global Technology Portfolio - Service Class    29,463    26,223    3,240    12,829    4,068    8,761 
                       ING International Portfolio - Service Class    -    233    (233)    -    6    (6) 
                       ING Janus Contrarian Portfolio - Service Class    33,197    7,000    26,197    20,593    5,084    15,509 
                       ING JPMorgan Emerging Markets Equity Portfolio - Service Class    285,503    60,554    224,949    58,390    7,153    51,237 
                       ING JPMorgan Small Cap Core Equity Portfolio - Service Class    313,446    95,665    217,781    214,590    25,648    188,942 
                       ING JPMorgan Value Opportunities Portfolio - Service Class    67,733    100,966    (33,233)    172,214    5,704    166,510 
                       ING Julius Baer Foreign Portfolio - Service Class    264,959    50,713    214,246    165,328    32,262    133,066 
                       ING Legg Mason Partners All Cap Portfolio - Service Class    64,628    14,861    49,767    50,412    16,084    34,328 
                       ING Legg Mason Value Portfolio - Service Class    401,980    125,861    276,119    252,364    21,690    230,674 
                       ING LifeStyle Aggressive Growth Portfolio - Service Class    865,652    65,605    800,047    480,686    71,695    408,721 
                       ING LifeStyle Growth Portfolio - Service Class    1,995,854    250,875    1,744,979    904,819    48,277    856,542 
                       ING LifeStyle Moderate Growth Portfolio - Service Class    2,068,310    227,630    1,840,680    1,170,205    131,827    1,038,378 
                       ING LifeStyle Moderate Portfolio - Service Class    727,847    103,822    624,025    633,350    75,489    557,861 
                       ING Limited Maturity Bond Portfolio - Service Class    1,383    11,417    (10,034)    602    12,921    (12,319) 
                       ING Liquid Assets Portfolio - Service Class    2,356,062    2,117,009    239,053    1,221,171    956,114    265,057 
                       ING Lord Abbett Affiliated Portfolio - Service Class    23,674    6,793    16,881    17,739    16,888    851 
                       ING MarketPro Portfolio - Service Class    24,903    82    24,821    -    -    - 
                       ING Marsico Growth Portfolio - Service Class    218,536    115,536    103,000    143,095    41,950    101,145 
                       ING Marsico International Opportunities Portfolio - Service Class    112,159    32,675    79,484    151,921    5,383    146,538 
                       ING MFS Total Return Portfolio - Service Class    250,068    124,099    125,969    339,507    58,846    280,661 
                       ING MFS Utilities Portfolio - Service Class    179,698    28,635    151,063    92,311    5,527    86,784 
                       ING Oppenheimer Main Street Portfolio® - Service Class    181,884    49,416    132,468    55,382    290,025    26,357 
                       ING PIMCO Core Bond Portfolio - Service Class    269,008    87,376    181,632    326,530    80,791    245,739 
                       ING PIMCO High Yield Portfolio - Service Class    192,919    52,418    140,501    172,285    36,683    135,602 
                       ING Pioneer Fund Portfolio - Service Class    6,702    3,348    3,354    6,999    4    6,995 

92

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                         
SEPARATE ACCOUNT NY-B                         
Notes to Financial Statements                         
 
 
            Year ended December 31         
        2006            2005     
    Units       Units    Net Increase    Units       Units    Net Increase 
    Issued    Redeemed    (Decrease)    Issued    Redeemed    (Decrease) 
                   ING Investors Trust (continued):                         
                       ING Pioneer Mid Cap Value Portfolio - Service Class    240,542    57,503    183,039    147,135    11,809    135,326 
                       ING T. Rowe Price Capital Appreciation Portfolio - Service Class    666,420    93,245    573,175    182,587    13,771    168,816 
                       ING T. Rowe Price Equity Income Portfolio - Service Class    250,163    77,639    172,524    307,030    35,327    271,703 
                       ING Templeton Global Growth Portfolio - Service Class    201,403    21,219    180,184    5,394    2,517    2,877 
                       ING UBS U.S. Allocation Portfolio - Service Class    13,648    11,984    1,664    26,528    2,416    24,112 
                       ING Van Kampen Equity Growth Portfolio - Service Class    21,594    6,765    14,829    19,257    2,091    17,166 
                       ING Van Kampen Global Franchise Portfolio - Service Class    117,039    33,932    83,107    40,438    56    40,382 
                       ING Van Kampen Growth and Income Portfolio - Service Class    62,510    27,407    35,103    37,919    7,658    30,261 
                       ING Van Kampen Real Estate Portfolio - Service Class    210,643    96,445    114,198    148,633    43,110    105,523 
                       ING VP Index Plus International Equity Portfolio - Service Class    33,874    1,514    32,360    -        - 
                       ING Wells Fargo Mid Cap Disciplined Portfolio - Service Class    104,532    9,915    94,617    6,916    3,423    3,493 
                       ING Wells Fargo Small Cap Disciplined Portfolio - Service Class    34,093    4,551    29,542    -    -    - 
                   ING Partners, Inc.:                         
                       ING Baron Small Cap Growth Portfolio - Service Class    297,756    49,092    248,664    77,311    5,183    72,128 
                       ING Columbia Small Cap Value II Portfolio - Service Class    100,619    14,487    86,132    -    -    - 
                       ING Davis Venture Value Portfolio - Service Class    266,950    48,458    218,492    1,111    -    1,111 
                       ING Fundamental Research Portfolio - Initial Class    223,540    102    223,438    -    -    - 
                       ING Fundamental Research Portfolio - Service Class    280,597    282,545    (1,948)    2,390    4    2,386 
                       ING JPMorgan International Portfolio - Service Class    88,380    7,667    80,713    67,057    5,734    61,323 
                       ING JPMorgan Mid Cap Value Portfolio - Service Class    4,269    8,608    (4,339)    63,259    29,224    34,035 
                       ING Legg Mason Partners Aggressive Growth Portfolio - Service Class    29,432    7,669    21,763    56,655    1,073    55,582 
                       ING Neuberger Berman Partners Portfolio - Service Class    81,652    2,287    79,365    -    -    - 
                       ING Neuberger Berman Regency Portfolio - Service Class    5,023    405    4,618    -    -    - 
                       ING Oppenheimer Global Portfolio - Initial Class    1,276    4,656    (3,380)    25,722    3,348    22,374 
                       ING Oppenheimer Global Portfolio - Service Class    423,218    74,055    349,163    229,465    50,667    178,798 
                       ING Templeton Foreign Equity Portfolio - Service Class    43,059    1,330    41,729    -    -    - 
                       ING Thornburg Value Portfolio - Initial Class    57    1,657    (1,600)    1,316    770    546 
                       ING UBS U.S. Large Cap Equity Portfolio - Service Class    98,553    87,285    11,268    44,279    18,804    25,475 

93

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                         
SEPARATE ACCOUNT NY-B                         
Notes to Financial Statements                         
 
 
            Year ended December 31         
        2006            2005     
       Units       Units    Net Increase    Units       Units    Net Increase 
     Issued    Redeemed    (Decrease)    Issued    Redeemed    (Decrease) 
                   ING Partners, Inc. (continued):                         
                       ING UBS U.S. Small Cap Growth Portfolio - Service Class    718    -    718    -    -    - 
                       ING Van Kampen Comstock Portfolio - Service Class    133,823    49,861    83,962    190,077    18,195    171,882 
                       ING Van Kampen Equity and Income Portfolio - Service Class    12,648    2,152    10,496    36,575    1,847    34,728 
                   ING Variable Insurance Trust:                         
                       ING GET U.S. Core Portfolio - Series 1    5,288    51,969    (46,681)    3    74,237    (74,234) 
                       ING GET U.S. Core Portfolio - Series 2    1,225    100,129    (98,904)    2,959    169,075    (166,116) 
                       ING GET U.S. Core Portfolio - Series 3    46,216    320,722    (274,506)    2,644    102,751    (100,107) 
                       ING GET U.S. Core Portfolio - Series 4    668    126,435    (125,767)    3,026    128,111    (125,085) 
                       ING GET U.S. Core Portfolio - Series 5    847    139,147    (138,300)    29    163,955    (163,926) 
                       ING GET U.S. Core Portfolio - Series 6    1,377    233,003    (231,626)    21,470    144,520    (123,050) 
                       ING GET U.S. Core Portfolio - Series 7    702    325,317    (324,615)    761,546    105,177    656,429 
                       ING GET U.S. Core Portfolio - Series 8    18,990    249,379    (230,389)    346,017    53,146    292,871 
                       ING GET U.S. Core Portfolio - Series 9    3,637    124,689    (121,052)    158,235    1,562    156,673 
                       ING GET U.S. Core Portfolio - Series 10    777    191,071    (190,294)    285,040    1,857    283,184 
                       ING GET U.S. Core Portfolio - Series 11    1,058,855    552,054    506,801    -    -    - 
                       ING GET U.S. Core Portfolio - Series 12    237,911    133,046    104,865    -    -    - 
                       ING GET U.S. Core Portfolio - Series 13    950,443    679    949,764    -    -    - 
                       ING VP Global Equity Dividend Portfolio    9,508    5,203    4,305    28,120    4,733    23,387 
                   ING Variable Portfolios, Inc.:                         
                       ING VP Index Plus LargeCap Portfolio - Class S    106,975    82,702    24,273    294,751    47,975    246,776 
                       ING VP Index Plus MidCap Portfolio - Class S    174,905    47,599    127,306    296,107    50,285    245,822 
                       ING VP Index Plus SmallCap Portfolio - Class S    130,864    46,377    84,487    277,712    46,079    231,633 
                       ING VP Value Opportunity Portfolio - Class S    1,255    2,286    (1,031)    19,179    8,182    10,997 
                   ING Variable Products Trust:                         
                       ING VP Convertible Portfolio - Class S    615    26,842    (26,227)    11,999    3,115    8,884 
                       ING VP Financial Services Portfolio - Class S    80,168    33,903    46,265    38,955    9,686    29,269 
                       ING VP MidCap Opportunities Portfolio - Class S    50    47    3    13    2,690    (2,677) 
                       ING VP SmallCap Opportunities Portfolio - Class S    29,574    10,231    19,343    18,768    33    18,735 

94

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                         
SEPARATE ACCOUNT NY-B                         
Notes to Financial Statements                         
 
 
            Year ended December 31         
        2006            2005     
    Units       Units    Net Increase    Units       Units    Net Increase 
    Issued    Redeemed    (Decrease)    Issued    Redeemed    (Decrease) 
                   ING VP Balanced Portfolio, Inc.:                         
                       ING VP Balanced Portfolio - Class S    32,829    1,976    30,853    -    -    - 
                   ING VP Intermediate Bond Portfolio:                         
                       ING VP Intermediate Bond Portfolio - Class S    438,995    174,299    264,696    133,175    24,320    108,855 
                   Legg Mason Partners Lifestyle Series, Inc.:                         
                       Legg Mason Partners Variable Lifestyle Balanced Portfolio    5,458    47,983    (42,525)    4,562    44,512    (39,950) 
                       Legg Mason Partners Variable Lifestyle Growth Portfolio    2,404    37,165    (34,761)    2,426    25,561    (23,135) 
                       Legg Mason Partners Variable Lifestyle High Growth Portfolio    97    18,581    (18,484)    828    10,356    (9,528) 
                   Legg Mason Partners Variable Portfolios II:                         
                       Legg Mason Partners Variable Appreciation Portfolio    1,769    149,911    (148,142)    5,216    33,463    (28,247) 
                   Legg Mason Partners Variable Portfolios III:                         
                       Legg Mason Partners Variable High Income Portfolio    43    1,128    (1,085)    -    577    (577) 
                       Legg Mason Partners Variable International All Cap Growth Portfolio    803    3,090    (2,287)    6    2,084    (2,078) 
                       Legg Mason Partners Variable Large Cap Value Portfolio    1,802    12,684    (10,882)    1,616    16,858    (15,242) 
                       Legg Mason Partners Variable Money Market Portfolio    189,442    186,510    2,932    158,578    160,178    (1,600) 
                   Liberty Variable Investment Trust:                         
                       Colonial Small Cap Value Fund, Variable Series - Class B    42,339    8,985    33,354    79,853    8,422    71,431 
                   PIMCO Variable Insurance Trust:                         
                       PIMCO StocksPLUS® Growth and Income Portfolio - Administrative Class    -    11,939    (11,939)    -    2,784    (2,784) 
                   Pioneer Variable Contracts Trust:                         
                       Pioneer Small Cap Value VCT Portfolio - Class II    19,519    348    19,171    -    -    - 
                       Pioneer Small Company VCT Portfolio - Class II    217    16,932    (16,715)    5,273    1,346    3,927 
                   ProFunds:                         
                       ProFund VP Bull    1,907    1,543    364    14,187    13,517    670 
                       ProFund VP Europe 30    3,959    1,636    2,323    26,778    40,153    (13,375) 
                       ProFund VP Rising Rates Opportunity    25,672    5,658    20,014    55,129    34,737    20,392 
                       ProFund VP Small-Cap    8,561    1,797    6,764    14,693    10,225    4,468 
                   Putnam Variable Trust:                         
                       Putnam VT International Growth and Income Fund - Class IB Shares    -    823    (823)    1    1    - 

95

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
7.    Unit Summary             
 
 
    Division/Contract    Units Outstanding    Unit Value    Extended Value 
    AIM V.I. Leisure Fund - Series I Shares             
    Contracts in accumulation period:             
    Band 6    4,405.930    $ 14.43    $ 63,578 
    Band 9    396.066             14.10    5,585 
    Band 17    766.343             14.18    10,867 
    Band 20    6,941.546             14.01    97,251 
    Band 22    1,933.794             13.96    26,996 
    Band 24    9,554.908             14.11    134,820 
    Band 25    405.453             14.05    5,697 
    Band 26    1,334.731             14.00    18,686 
    Band 27    512.837             13.91    7,134 
    Band 28    1,074.053             13.90    14,929 
        27,325.661        $ 385,543 
    Fidelity® VIP Equity-Income Portfolio - Service Class 2             
    Contracts in accumulation period:             
    Band 1    1,425.478    $ 13.05    $ 18,602 
    Band 3    452.199             13.01    5,883 
    Band 5    12,728.399             13.83    176,034 
    Band 6    64,510.066             13.67    881,853 
    Band 8    43,226.694             13.45    581,399 
    Band 9    114,112.277             13.30    1,517,693 
    Band 10    967.805             13.19    12,765 
    Band 17    73,024.577             13.42    979,990 
    Band 19    6,922.206             13.37    92,550 
    Band 20    13,861.278             13.26    183,801 
    Band 22    1,467.976             13.21    19,392 
    Band 24    29,817.211             13.35    398,060 
    Band 25    8,627.136             13.29    114,655 
    Band 27    1,988.358             13.17    26,187 
    Band 28    1,258.316             13.15    16,547 
        374,389.976        $ 5,025,411 

96

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   Fidelity® VIP Contrafund® Portfolio - Service Class 2             
                   Contracts in accumulation period:             
                   Band 1    1,948.455    $ 13.19    $ 25,700 
                   Band 3    1,926.535             13.15    25,334 
                   Band 5    14,466.633             16.00    231,466 
                   Band 6    249,402.287             15.82    3,945,544 
                   Band 7    1,786.047             15.69    28,023 
                   Band 8    42,687.527             15.57    664,645 
                   Band 9    113,409.252             15.40    1,746,502 
                   Band 17    136,021.748             14.26    1,939,670 
                   Band 19    17,689.229             14.21    251,364 
                   Band 20    36,930.137             14.09    520,346 
                   Band 22    2,688.924             14.04    37,752 
                   Band 24    123,600.770             14.19    1,753,895 
                   Band 25    86,329.309             14.13    1,219,833 
                   Band 26    1,352.083             14.08    19,037 
                   Band 27    14,680.447             13.99    205,379 
                   Band 28    6,594.194             13.98    92,187 
    851,513.577        $ 12,706,677 
                   Mutual Shares Securities Fund - Class 2             
                   Contracts in accumulation period:             
                   Band 5    2,827.183    $ 10.91    $ 30,845 
                   Band 6    51,713.277             10.89    563,158 
                   Band 9    5,124.575             10.86    55,653 
                   Band 17    6,437.488             10.88    70,040 
                   Band 19    1,130.038             10.87    12,284 
                   Band 20    475.717             10.84    5,157 
                   Band 24    6,681.760             10.86    72,564 
                   Band 25    12,210.267             10.85    132,481 
                   Band 27    965.972             10.82    10,452 
                   Band 28    6,214.628             10.81    67,180 
    93,780.905        $ 1,019,814 
                   ING AllianceBernstein Mid Cap Growth             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    5,073.342    $ 21.06    $ 106,845 
                   Band 3    28,942.144             20.72    599,681 
                   Band 6    45,448.157             12.71    577,646 
                   Band 9    2,862.466             12.60    36,067 
                   Band 10    161.387             12.57    2,029 
                   Band 17    43,919.565             12.67    556,461 
                   Band 19    1,717.395             12.64    21,708 
                   Band 20    2,089.409             12.56    26,243 
                   Band 24    11,755.784             12.63    148,476 
                   Band 25    14,441.810             12.58    181,678 
                   Band 26    7,217.741             12.55    90,583 
                   Band 27    603.890             12.49    7,543 
                   Band 28    2,687.400             12.48    33,539 
    166,920.490        $ 2,388,499 

97

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING American Funds Growth Portfolio             
                   Contracts in accumulation period:             
                   Band 1    3,215.293    $ 14.72    $ 47,329 
                   Band 2    352.354             10.93    3,851 
                   Band 3    10,145.560             14.65    148,632 
                   Band 5    10,652.994             14.82    157,877 
                   Band 6    417,781.755             14.72    6,149,747 
                   Band 7    22.943             14.65    336 
                   Band 8    12,855.003             14.58    187,426 
                   Band 9    54,852.805             14.48    794,269 
                   Band 10    3,964.290             14.41    57,125 
                   Band 17    478,919.718             13.86    6,637,827 
                   Band 19    30,629.638             13.81    422,995 
                   Band 20    81,722.715             13.70    1,119,601 
                   Band 22    4,612.210             13.65    62,957 
                   Band 24    299,823.357             13.79    4,134,564 
                   Band 25    400,760.347             13.73    5,502,440 
                   Band 26    6,548.245             13.68    89,580 
                   Band 27    15,639.779             13.60    212,701 
                   Band 28    13,452.274             13.58    182,682 
    1,845,951.280        $ 25,911,939 
                   ING American Funds Growth-Income Portfolio             
                   Contracts in accumulation period:             
                   Band 1    3,408.693    $ 14.03    $ 47,824 
                   Band 2    319.504             11.32    3,617 
                   Band 3    16,238.970             13.96    226,696 
                   Band 5    8,447.790             14.13    119,367 
                   Band 6    308,746.344             14.03    4,331,711 
                   Band 8    7,151.562             13.89    99,335 
                   Band 9    67,763.935             13.80    935,142 
                   Band 10    6,230.263             13.73    85,542 
                   Band 17    370,765.100             12.76    4,730,963 
                   Band 19    25,240.667             12.72    321,061 
                   Band 20    46,015.497             12.61    580,255 
                   Band 22    4,148.122             12.57    52,142 
                   Band 24    211,584.210             12.70    2,687,119 
                   Band 25    411,816.530             12.64    5,205,361 
                   Band 26    4,808.458             12.60    60,587 
                   Band 27    7,335.644             12.52    91,842 
                   Band 28    20,346.714             12.51    254,537 
    1,520,368.003        $ 19,833,101 

98

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING American Funds International Portfolio             
                   Contracts in accumulation period:             
                   Band 1    1,311.795    $ 19.01    $ 24,937 
                   Band 2    1,487.874    12.35    18,375 
                   Band 3    6,543.620    18.91    123,740 
                   Band 5    722.776    19.14    13,834 
                   Band 6    137,611.259    19.01    2,615,990 
                   Band 7    19.290    18.91    365 
                   Band 8    3,358.256    18.82    63,202 
                   Band 9    28,257.227    18.69    528,128 
                   Band 10    643.217    18.60    11,964 
                   Band 17    202,623.146    16.00    3,241,970 
                   Band 19    18,231.535    15.94    290,611 
                   Band 20    30,496.836    15.81    482,155 
                   Band 22    4,059.312    15.75    63,934 
                   Band 24    140,495.951    15.92    2,236,696 
                   Band 25    183,436.842    15.84    2,905,640 
                   Band 26    2,399.594    15.79    37,890 
                   Band 27    4,463.245    15.69    70,028 
                   Band 28    2,639.532    15.67    41,361 
    768,801.307        $ 12,770,820 
                   ING BlackRock Large Cap Growth             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    1,000.814    $ 12.32    $ 12,330 
                   Band 3    3,462.574    12.29    42,555 
                   Band 5    1,887.699    12.36    23,332 
                   Band 6    10,061.120    12.32    123,953 
                   Band 8    125.668    12.26    1,541 
                   Band 9    3,151.946    12.21    38,485 
                   Band 17    14,068.276    12.28    172,758 
                   Band 20    192.081    12.17    2,338 
                   Band 24    8,315.224    12.23    101,695 
                   Band 26    248.087    12.16    3,017 
    42,513.489        $ 522,004 
                   ING BlackRock Large Cap Value             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    843.513    $ 12.91    $ 10,890 
                   Band 6    7,435.915    12.86    95,626 
                   Band 9    1,838.212    12.76    23,456 
                   Band 17    11,863.322    12.82    152,088 
                   Band 20    1,383.453    12.71    17,584 
                   Band 24    7,741.182    12.78    98,932 
                   Band 26    720.606    12.70    9,152 
                   Band 28    185.422    12.63    2,342 
    32,011.625        $ 410,070 

99

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Capital Guardian Small/Mid Cap             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    4,565.896    $ 21.27    $ 97,117 
                   Band 3    83,946.936             20.91    1,755,330 
                   Band 6    10,029.255             12.13    121,655 
                   Band 9    1,524.314             12.03    18,337 
                   Band 17    4,530.870             12.09    54,778 
                   Band 20    5,400.342             11.98    64,696 
                   Band 24    7,915.807             12.05    95,385 
    117,913.420        $ 2,207,298 
                   ING Capital Guardian U.S. Equities             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    5,969.884    $ 12.58    $ 75,101 
                   Band 3    34,871.122             12.45    434,145 
                   Band 6    3,010.272             12.17    36,635 
                   Band 17    4,091.001             12.13    49,624 
                   Band 20    111.627             12.02    1,342 
                   Band 24    18,782.843             12.09    227,085 
                   Band 25    335.845             12.04    4,044 
                   Band 26    328.646             12.01    3,947 
    67,501.240        $ 831,923 
                   ING EquitiesPlus Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    11,399.036    $ 10.75    $ 122,540 
                   Band 6    2,110.595             10.76    22,710 
                   Band 17    853.941             10.74    9,171 
                   Band 24    949.275             10.73    10,186 
    15,312.847        $ 164,607 
                   ING Evergreen Health Sciences Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    418.661    $ 12.68    $ 5,309 
                   Band 5    3,641.666             12.23    44,538 
                   Band 6    140,305.429             12.16    1,706,114 
                   Band 8    4,347.810             12.06    52,435 
                   Band 9    11,715.614             12.00    140,587 
                   Band 17    22,787.511             13.20    300,795 
                   Band 19    484.360             13.15    6,369 
                   Band 20    3,810.930             13.04    49,695 
                   Band 24    24,803.710             13.13    325,673 
                   Band 25    17,213.356             13.07    224,979 
                   Band 26    665.029             13.02    8,659 
                   Band 27    1,245.180             12.95    16,125 
                   Band 28    1,148.828             12.93    14,854 
    232,588.084        $ 2,896,132 

100

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Evergreen Omega Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    1,059.304    $ 11.76    $ 12,457 
                   Band 5    1,062.685             11.30    12,008 
                   Band 6    1,026.519             11.24    11,538 
                   Band 8    518.592             11.15    5,782 
                   Band 9    105.929             11.09    1,175 
                   Band 17    1,666.343             12.02    20,029 
                   Band 19    507.334             11.98    6,078 
                   Band 20    61.632             11.88    732 
                   Band 24    636.627             11.97    7,620 
                   Band 27    413.025             11.80    4,874 
    7,057.990        $ 82,293 
                   ING FMRSM Diversified Mid Cap             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    3,040.079    $ 14.96    $ 45,480 
                   Band 3    26,862.480             14.81    397,833 
                   Band 6    45,961.563             13.29    610,829 
                   Band 7    31.492             13.26    418 
                   Band 8    838.923             13.23    11,099 
                   Band 9    5,508.093             13.18    72,597 
                   Band 17    53,451.075             13.25    708,227 
                   Band 19    11,106.436             13.21    146,716 
                   Band 20    5,699.558             13.14    74,892 
                   Band 24    44,511.698             13.20    587,554 
                   Band 25    178,204.780             13.16    2,345,175 
                   Band 26    1,138.364             13.12    14,935 
                   Band 27    5,297.217             13.07    69,235 
                   Band 28    3,687.191             13.05    48,118 
    385,338.949        $ 5,133,108 
                   ING FMRSM Large Cap Growth             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    15,271.257    $ 10.70    $ 163,402 
                   Band 6    12,586.793             10.67    134,301 
                   Band 8    9,225.561             10.62    97,975 
                   Band 9    12,930.327             10.58    136,803 
                   Band 17    3,396.358             10.63    36,103 
                   Band 20    549.950             10.54    5,796 
                   Band 24    2,640.806             10.60    27,993 
                   Band 27    795.961             10.49    8,350 
    57,397.013        $ 610,723 

101

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING FMRSM Mid Cap Growth Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    4,533.944    $ 26.72    $ 121,147 
                   Band 2    1,564.638             26.72    41,807 
                   Band 3    46,177.902             26.19    1,209,399 
                   Band 4    17,881.875             26.19    468,326 
                   Band 6    11,217.569             11.82    132,592 
                   Band 17    80,489.286             11.78    948,164 
                   Band 19    645.152             11.75    7,581 
                   Band 24    7,365.016             11.74    86,465 
                   Band 25    1,806.135             11.70    21,132 
    171,681.517        $ 3,036,613 
                   ING Franklin Income Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    1,877.806    $ 10.95    $ 20,562 
                   Band 6    42,578.964             10.94    465,814 
                   Band 8    1,086.887             10.91    11,858 
                   Band 9    10,294.461             10.90    112,210 
                   Band 17    58,794.069             10.92    642,031 
                   Band 19    377.374             10.91    4,117 
                   Band 20    460.311             10.88    5,008 
                   Band 24    102,663.286             10.91    1,120,056 
                   Band 25    29,755.786             10.89    324,041 
                   Band 27    3,161.395             10.86    34,333 
                   Band 28    6,374.367             10.86    69,226 
    257,424.706        $ 2,809,256 
                   ING Global Real Estate Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 6    13,686.034    $ 13.64    $ 186,678 
                   Band 8    674.479             13.61    9,180 
                   Band 9    6,794.703             13.59    92,340 
                   Band 17    7,838.519             13.62    106,761 
                   Band 19    513.932             13.61    6,995 
                   Band 24    9,731.340             13.60    132,346 
                   Band 25    106,297.420             13.58    1,443,519 
                   Band 26    445.503             13.57    6,045 
                   Band 27    2,467.353             13.54    33,408 
    148,449.283        $ 2,017,272 

102

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Global Resources Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    918.207    $ 36.98    $ 33,955 
                   Band 3    3,542.472    35.99    127,494 
                   Band 5    177.324    16.12    2,858 
                   Band 6    54,746.072    16.06    879,222 
                   Band 8    363.566    15.98    5,810 
                   Band 9    4,546.430    15.93    72,425 
                   Band 17    69,609.207    16.01    1,114,443 
                   Band 19    6,805.307    15.97    108,681 
                   Band 20    1,769.814    15.87    28,087 
                   Band 22    448.613    15.83    7,102 
                   Band 24    22,989.955    15.95    366,690 
                   Band 25    16,280.608    15.90    258,862 
                   Band 26    5,652.631    15.86    89,651 
                   Band 27    193.570    15.79    3,056 
                   Band 28    54.862    15.77    865 
    188,098.638        $ 3,099,201 
                   ING Global Technology Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    1,750.036    $ 7.76    $ 13,580 
                   Band 6    6,580.630    12.33    81,139 
                   Band 17    2,168.381    12.29    26,649 
                   Band 20    520.550    12.19    6,346 
                   Band 24    1,519.788    12.25    18,617 
                   Band 25    1,214.544    12.21    14,830 
    13,753.929        $ 161,161 
                   ING International Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    19,426.397    $ 13.81    $ 268,279 
    19,426.397        $ 268,279 
                   ING Janus Contrarian Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    357.902    $ 14.53    $ 5,200 
                   Band 3    3,957.144    14.40    56,983 
                   Band 5    405.794    16.03    6,505 
                   Band 6    10,838.270    15.94    172,762 
                   Band 9    740.203    15.73    11,643 
                   Band 17    15,002.149    16.43    246,485 
                   Band 19    367.392    16.38    6,018 
                   Band 20    487.469    16.24    7,916 
                   Band 22    451.876    16.18    7,311 
                   Band 24    9,895.665    16.36    161,893 
                   Band 25    4,522.286    16.28    73,623 
    47,026.150        $ 756,339 

103

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING JPMorgan Emerging Markets Equity             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    4,418.452    $ 18.88    $ 83,420 
                   Band 3    23,268.851             18.63    433,499 
                   Band 5    2,025.680             18.49    37,455 
                   Band 6    78,419.545             18.43    1,445,272 
                   Band 7    1,029.212             18.38    18,917 
                   Band 8    1,857.664             18.34    34,070 
                   Band 9    7,145.082             18.27    130,541 
                   Band 10    155.724             18.23    2,839 
                   Band 17    42,833.629             18.37    786,854 
                   Band 19    11,011.520             18.32    201,731 
                   Band 20    3,608.239             18.21    65,706 
                   Band 22    448.715             18.16    8,149 
                   Band 24    26,947.486             18.30    493,139 
                   Band 25    102,901.300             18.24    1,876,920 
                   Band 26    1,032.211             18.19    18,776 
                   Band 27    192.410             18.11    3,485 
                   Band 28    862.575             18.10    15,613 
    308,158.295        $ 5,656,386 
                   ING JPMorgan Small Cap Core Equity             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    463.925    $ 13.12    $ 6,087 
                   Band 3    147.055             13.09    1,925 
                   Band 5    2,451.329             15.41    37,775 
                   Band 6    96,790.773             15.26    1,477,027 
                   Band 7    2,336.133             15.16    35,416 
                   Band 8    1,648.397             15.05    24,808 
                   Band 9    10,285.944             14.91    153,363 
                   Band 10    2,940.292             14.81    43,546 
                   Band 17    96,529.210             13.92    1,343,687 
                   Band 19    2,629.802             13.87    36,475 
                   Band 20    17,787.607             13.75    244,580 
                   Band 22    3,681.450             13.70    50,436 
                   Band 24    53,258.489             13.85    737,630 
                   Band 25    128,458.516             13.79    1,771,443 
                   Band 27    34.386             13.65    469 
                   Band 28    1,031.007             13.64    14,063 
    420,474.315        $ 5,978,730 

104

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING JPMorgan Value Opportunities             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    5,428.575    $ 12.67    $ 68,780 
                   Band 6    60,088.134             12.62    758,312 
                   Band 8    6,253.497             12.56    78,544 
                   Band 9    9,890.938             12.52    123,835 
                   Band 17    12,274.676             12.58    154,415 
                   Band 19    8,168.090             12.55    102,510 
                   Band 20    2,375.897             12.48    29,651 
                   Band 24    19,941.954             12.54    250,072 
                   Band 25    6,602.450             12.50    82,531 
                   Band 26    760.403             12.47    9,482 
                   Band 27    301.261             12.41    3,739 
                   Band 28    1,190.731             12.40    14,765 
    133,276.606        $ 1,676,636 
                   ING Julius Baer Foreign Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    843.992    $ 15.11    $ 12,753 
                   Band 5    64.346             18.22    1,172 
                   Band 6    75,016.406             18.05    1,354,046 
                   Band 8    4,437.842             17.80    78,994 
                   Band 9    9,220.111             17.63    162,551 
                   Band 17    133,410.981             17.32    2,310,678 
                   Band 19    9,012.780             17.25    155,470 
                   Band 20    15,111.064             17.11    258,550 
                   Band 22    617.979             17.05    10,537 
                   Band 24    77,484.883             17.23    1,335,065 
                   Band 25    31,653.362             17.15    542,855 
                   Band 26    3,869.568             17.09    66,131 
                   Band 27    1,228.593             16.99    20,874 
                   Band 28    4,129.436             16.97    70,077 
    366,101.343        $ 6,379,753 
                   ING Legg Mason Partners All Cap             
Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    1,041.458    $ 15.08    $ 15,705 
                   Band 3    100,406.700             14.92    1,498,068 
                   Band 5    2,546.727             14.38    36,622 
                   Band 6    9,347.188             14.29    133,571 
                   Band 9    4,859.712             14.05    68,279 
                   Band 17    24,569.140             12.96    318,416 
                   Band 20    1,008.714             12.81    12,922 
                   Band 24    16,956.482             12.90    218,739 
                   Band 25    8,640.621             12.84    110,946 
                   Band 27    2,107.268             12.72    26,804 
    171,484.010        $ 2,440,072 

105

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Legg Mason Value Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    489.384    $ 10.60    $ 5,187 
                   Band 3    7,514.464             10.50    78,902 
                   Band 5    3,897.723             10.73    41,823 
                   Band 6    181,273.908             10.60    1,921,503 
                   Band 8    7,702.932             10.40    80,110 
                   Band 9    31,565.015             10.27    324,173 
                   Band 17    82,523.155             12.65    1,043,918 
                   Band 19    991.480             12.61    12,503 
                   Band 20    30,003.532             12.50    375,044 
                   Band 22    3,904.536             12.46    48,651 
                   Band 24    124,826.104             12.59    1,571,561 
                   Band 25    68,033.288             12.53    852,457 
                   Band 26    6,950.726             12.49    86,815 
                   Band 27    621.453             12.41    7,712 
    550,297.700        $ 6,450,359 
                   ING LifeStyle Aggressive Growth             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    12,444.222    $ 13.33    $ 165,881 
                   Band 6    557,375.163             14.00    7,803,252 
                   Band 9    38,722.275             13.81    534,755 
                   Band 17    358,339.330             14.20    5,088,418 
                   Band 19    34,800.420             14.15    492,426 
                   Band 20    15,527.785             14.03    217,855 
                   Band 22    6,409.456             13.98    89,604 
                   Band 24    114,765.354             14.14    1,622,782 
                   Band 25    82,860.258             14.07    1,165,844 
                   Band 26    3,291.168             14.02    46,142 
                   Band 27    3,668.986             13.93    51,109 
                   Band 28    11,441.441             13.92    159,265 
    1,239,645.858        $ 17,437,333 
                   ING LifeStyle Growth Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    884.667    $ 13.49    $ 11,934 
                   Band 6    750,599.094             13.42    10,073,040 
                   Band 8    1,638.820             13.31    21,813 
                   Band 9    53,212.570             13.24    704,534 
                   Band 17    792,205.352             13.49    10,686,850 
                   Band 19    24,353.165             13.44    327,307 
                   Band 20    52,623.985             13.33    701,478 
                   Band 22    3,170.633             13.28    42,106 
                   Band 24    451,008.948             13.42    6,052,540 
                   Band 25    379,536.937             13.36    5,070,613 
                   Band 26    66,229.486             13.31    881,514 
                   Band 27    3,366.609             13.23    44,540 
                   Band 28    27,200.284             13.22    359,588 
    2,606,030.550        $ 34,977,857 

106

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING LifeStyle Moderate Growth             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    4,854.138    $ 12.22    $ 59,318 
                   Band 5    21,170.692             12.92    273,525 
                   Band 6    662,031.175             12.85    8,507,101 
                   Band 7    566.646             12.79    7,247 
                   Band 8    45,511.605             12.74    579,818 
                   Band 9    129,532.844             12.68    1,642,476 
                   Band 17    910,291.020             12.84    11,688,137 
                   Band 19    141,588.489             12.79    1,810,917 
                   Band 20    94,203.697             12.69    1,195,445 
                   Band 22    513.398             12.64    6,489 
                   Band 24    637,076.215             12.78    8,141,834 
                   Band 25    223,358.392             12.72    2,841,119 
                   Band 26    22,007.659             12.67    278,837 
                   Band 27    28,158.936             12.60    354,803 
                   Band 28    29,615.516             12.58    372,563 
    2,950,480.422        $ 37,759,629 
                   ING LifeStyle Moderate Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    786.888    $ 11.83    $ 9,309 
                   Band 5    5,249.982             12.47    65,467 
                   Band 6    306,482.274             12.41    3,803,445 
                   Band 7    2,680.259             12.36    33,128 
                   Band 8    22,501.610             12.31    276,995 
                   Band 9    41,211.002             12.24    504,423 
                   Band 10    12,918.235             12.19    157,473 
                   Band 17    449,302.597             12.28    5,517,436 
                   Band 19    15,245.600             12.23    186,454 
                   Band 20    29,568.829             12.13    358,670 
                   Band 22    1,037.137             12.09    12,539 
                   Band 24    63,289.727             12.22    773,400 
                   Band 25    215,925.303             12.16    2,625,652 
                   Band 26    1,947.455             12.12    23,603 
                   Band 27    525.741             12.05    6,335 
                   Band 28    12,647.635             12.03    152,151 
                   Band 29    6,768.193             11.99    81,151 
    1,188,088.467        $ 14,587,631 
                   ING Limited Maturity Bond Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    6,413.073    $ 21.54    $ 138,138 
                   Band 3    29,374.690             20.96    615,694 
    35,787.763        $ 753,832 

107

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Liquid Assets Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    7,830.812    $ 16.83    $ 131,793 
                   Band 3    35,602.928             16.38    583,176 
                   Band 5    101.930             17.43    1,777 
                   Band 6    72,810.422             16.83    1,225,399 
                   Band 8    8,272.296             15.93    131,778 
                   Band 9    25,704.656             15.37    395,081 
                   Band 10    2,798.545             14.96    41,866 
                   Band 17    117,705.168             10.44    1,228,842 
                   Band 19    19,589.662             10.41    203,928 
                   Band 20    171,907.390             10.32    1,774,084 
                   Band 24    102,700.252             10.40    1,068,083 
                   Band 25    22,956.120             10.35    237,596 
                   Band 26    1,439.141             10.31    14,838 
                   Band 27    1,235.076             10.25    12,660 
    590,654.398        $ 7,050,901 
                   ING Lord Abbett Affiliated Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    444.173    $ 13.80    $ 6,130 
                   Band 3    10,544.713             13.65    143,935 
                   Band 6    4,275.314             14.60    62,420 
                   Band 17    9,940.589             13.05    129,725 
                   Band 19    3,159.966             13.01    41,111 
                   Band 24    3,996.200             12.99    51,911 
                   Band 25    1,846.648             12.93    23,877 
    34,207.603        $ 459,109 
                   ING MarketPro Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 6    12,824.397    $ 10.90    $ 139,786 
                   Band 20    5,371.091             10.82    58,115 
                   Band 25    6,625.811             10.83    71,758 
    24,821.299        $ 269,659 
                   ING Marsico Growth Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    15,357.156    $ 17.24    $ 264,757 
                   Band 3    186,434.280             16.96    3,161,925 
                   Band 6    70,892.699             12.51    886,868 
                   Band 9    6,447.156             12.34    79,558 
                   Band 10    169.387             12.29    2,082 
                   Band 17    110,822.558             12.68    1,405,230 
                   Band 19    3,652.680             12.63    46,133 
                   Band 20    12,535.306             12.53    157,067 
                   Band 24    21,834.087             12.62    275,546 
                   Band 25    52,660.937             12.56    661,421 
                   Band 26    7,140.429             12.51    89,327 
                   Band 27    9,458.611             12.44    117,665 
                   Band 28    3,016.746             12.42    37,468 
    500,422.032        $ 7,185,047 

108

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Marsico International Opportunities             
Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    1,389.801    $ 15.22    $ 21,153 
                   Band 3    7,392.408             15.18    112,217 
                   Band 5    2,007.824             15.27    30,659 
                   Band 6    33,860.449             15.22    515,356 
                   Band 7    2,925.192             15.18    44,404 
                   Band 8    1,601.303             15.15    24,260 
                   Band 9    7,923.217             15.10    119,641 
                   Band 10    4,022.497             15.06    60,579 
                   Band 17    13,669.823             15.17    207,371 
                   Band 19    11,948.705             15.13    180,784 
                   Band 20    1,874.272             15.04    28,189 
                   Band 22    487.539             15.01    7,318 
                   Band 24    66,453.272             15.12    1,004,773 
                   Band 25    63,578.838             15.07    958,133 
                   Band 26    2,718.188             15.03    40,854 
                   Band 27    1,162.179             14.97    17,398 
                   Band 28    3,006.566             14.95    44,948 
    226,022.073        $ 3,418,037 
                   ING MFS Total Return Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    12,510.167    $ 27.67    $ 346,156 
                   Band 2    5,726.566             27.67    158,454 
                   Band 3    59,875.118             27.17    1,626,807 
                   Band 4    35,828.585             27.17    973,463 
                   Band 5    5,625.608             28.36    159,542 
                   Band 6    52,935.981             27.67    1,464,739 
                   Band 8    14,846.595             26.68    396,107 
                   Band 9    27,931.915             26.03    727,068 
                   Band 10    1,440.305             25.55    36,800 
                   Band 17    73,390.512             12.03    882,888 
                   Band 19    8,262.742             11.98    98,988 
                   Band 20    28,832.779             11.88    342,533 
                   Band 22    2,039.558             11.84    24,148 
                   Band 24    152,555.353             11.97    1,826,088 
                   Band 25    109,204.248             11.91    1,300,623 
                   Band 27    14,929.175             11.80    176,164 
                   Band 28    461.702             11.79    5,443 
    606,396.909        $ 10,546,011 

109

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING MFS Utilities Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    1,109.252    $ 14.70    $ 16,306 
                   Band 6    87,798.645             14.74    1,294,152 
                   Band 8    4,078.982             14.66    59,798 
                   Band 9    11,382.557             14.61    166,299 
                   Band 17    57,566.020             14.69    845,645 
                   Band 19    19,478.471             14.65    285,360 
                   Band 20    9,178.418             14.56    133,638 
                   Band 22    534.997             14.53    7,774 
                   Band 24    31,826.023             14.64    465,933 
                   Band 25    13,575.896             14.59    198,072 
                   Band 26    413.922             14.55    6,023 
                   Band 27    904.101             14.49    13,100 
    237,847.284        $ 3,492,100 
                   ING Oppenheimer Main Street             
Portfolio® - Service Class             
                   Contracts in accumulation period:             
                   Band 1    3,062.025    $ 24.90    $ 76,244 
                   Band 2    13,765.415             24.90    342,759 
                   Band 3    25,754.274             24.46    629,950 
                   Band 4    38,683.397             24.46    946,196 
                   Band 5    662.910             25.53    16,924 
                   Band 6    14,382.282             24.90    358,119 
                   Band 8    17,051.776             24.01    409,413 
                   Band 9    56,362.308             23.42    1,320,005 
                   Band 17    29,737.543             13.12    390,157 
                   Band 19    2,056.142             13.07    26,874 
                   Band 20    1,548.631             12.96    20,070 
                   Band 22    103.211             12.91    1,332 
                   Band 24    9,297.149             13.05    121,328 
                   Band 25    60,141.834             12.99    781,242 
                   Band 27    376.566             12.87    4,846 
    272,985.463        $ 5,445,459 

110

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING PIMCO Core Bond Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    6,901.673    $ 14.37    $ 99,177 
                   Band 3    15,727.625             14.11    221,917 
                   Band 5    8,574.342             14.73    126,300 
                   Band 6    166,024.161             14.37    2,385,767 
                   Band 8    10,674.510             13.85    147,842 
                   Band 9    29,043.449             13.51    392,377 
                   Band 10    2,455.060             13.26    32,554 
                   Band 17    57,445.905             10.53    604,905 
                   Band 19    10,521.704             10.49    110,373 
                   Band 20    21,767.562             10.41    226,600 
                   Band 24    114,904.130             10.48    1,204,195 
                   Band 25    82,969.323             10.43    865,370 
                   Band 26    2,329.851             10.39    24,207 
                   Band 27    3,955.595             10.33    40,861 
                   Band 28    4,185.858             10.32    43,198 
    537,480.748        $ 6,525,643 
                   ING PIMCO High Yield Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    3,246.997    $ 12.01    $ 38,996 
                   Band 3    44,883.006             11.96    536,801 
                   Band 5    6,721.736             12.07    81,131 
                   Band 6    54,171.704             12.01    650,602 
                   Band 8    7,815.066             11.91    93,077 
                   Band 9    29,370.719             11.85    348,043 
                   Band 10    2,129.021             11.80    25,122 
                   Band 17    75,896.991             11.60    880,405 
                   Band 19    5,089.843             11.56    58,839 
                   Band 20    18,033.151             11.46    206,660 
                   Band 24    72,194.354             11.54    833,123 
                   Band 25    40,020.125             11.49    459,831 
                   Band 26    2,725.652             11.45    31,209 
                   Band 27    4,890.461             11.38    55,653 
                   Band 28    2,891.895             11.37    32,881 
    370,080.721        $ 4,332,373 
                   ING Pioneer Fund Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 6    1,462.313    $ 12.67    $ 18,528 
                   Band 8    25.621             12.61    323 
                   Band 9    2,254.330             12.57    28,337 
                   Band 17    776.148             12.63    9,803 
                   Band 20    54.861             12.52    687 
                   Band 24    770.197             12.59    9,697 
                   Band 25    2,863.148             12.55    35,933 
                   Band 27    2,141.541             12.46    26,684 
    10,348.159        $ 129,992 

111

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Pioneer Mid Cap Value Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    1,502.740    $ 12.10    $ 18,183 
                   Band 3    224.152             12.07    2,706 
                   Band 6    88,855.707             12.10    1,075,154 
                   Band 8    458.864             12.04    5,525 
                   Band 9    14,664.979             12.00    175,980 
                   Band 10    188.987             11.97    2,262 
                   Band 17    124,246.590             12.06    1,498,414 
                   Band 19    2,394.778             12.03    28,809 
                   Band 20    25,216.483             11.96    301,589 
                   Band 22    3,318.110             11.93    39,585 
                   Band 24    33,536.666             12.02    403,111 
                   Band 25    14,321.561             11.98    171,572 
                   Band 26    7,267.662             11.95    86,849 
                   Band 28    2,167.533             11.89    25,772 
    318,364.812        $ 3,835,511 
                   ING T. Rowe Price Capital Appreciation             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    4,788.410    $ 48.97    $ 234,488 
                   Band 3    14,592.288             47.66    695,468 
                   Band 5    437.799             12.51    5,477 
                   Band 6    284,773.437             12.47    3,551,125 
                   Band 8    5,234.252             12.40    64,905 
                   Band 9    15,830.232             12.36    195,662 
                   Band 17    206,507.859             12.42    2,564,828 
                   Band 19    13,759.824             12.39    170,484 
                   Band 20    38,699.812             12.32    476,782 
                   Band 22    2,156.374             12.29    26,502 
                   Band 24    103,053.138             12.38    1,275,798 
                   Band 25    42,538.585             12.34    524,926 
                   Band 26    5,417.264             12.31    66,687 
                   Band 27    24,064.497             12.25    294,790 
                   Band 28    1,924.431             12.24    23,555 
    763,778.202        $ 10,171,477 

112

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING T. Rowe Price Equity Income             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    3,152.100    $ 35.36    $ 111,458 
                   Band 3    20,456.113             34.41    703,895 
                   Band 5    486.215             13.59    6,608 
                   Band 6    154,788.991             13.52    2,092,747 
                   Band 8    923.060             13.41    12,378 
                   Band 9    41,437.286             13.34    552,773 
                   Band 10    1,046.474             13.28    13,897 
                   Band 17    35,019.110             13.25    464,003 
                   Band 19    11,229.499             13.20    148,229 
                   Band 20    18,406.057             13.09    240,935 
                   Band 22    385.175             13.05    5,027 
                   Band 24    128,314.111             13.19    1,692,463 
                   Band 25    70,539.660             13.13    926,186 
                   Band 26    708.346             13.08    9,265 
                   Band 27    5,794.251             13.00    75,325 
                   Band 28    9,946.732             12.98    129,109 
    502,633.180        $ 7,184,298 
                   ING Templeton Global Growth Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    7,302.720    $ 27.01    $ 197,246 
                   Band 3    34,715.158             26.44    917,869 
                   Band 6    113,249.048             13.86    1,569,632 
                   Band 9    6,010.085             13.74    82,579 
                   Band 17    19,473.812             13.81    268,933 
                   Band 19    2,989.769             13.78    41,199 
                   Band 20    559.314             13.69    7,657 
                   Band 24    6,999.489             13.76    96,313 
                   Band 25    36,488.373             13.72    500,620 
                   Band 27    941.739             13.62    12,826 
                   Band 28    5,631.124             13.61    76,640 
    234,360.631        $ 3,771,514 
                   ING UBS U.S. Allocation Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    17,190.666    $ 10.63    $ 182,737 
                   Band 6    9,615.766             12.61    121,255 
                   Band 8    2,929.352             12.51    36,646 
                   Band 9    1,597.916             12.45    19,894 
                   Band 17    2,195.919             12.43    27,295 
                   Band 19    596.598             12.39    7,392 
                   Band 20    15,487.973             12.29    190,347 
                   Band 22    278.975             12.24    3,415 
                   Band 24    3,560.795             12.37    44,047 
                   Band 25    476.296             12.32    5,868 
    53,930.256        $ 638,896 

113

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Van Kampen Equity Growth             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 6    12,662.952    $ 13.01    $ 164,745 
                   Band 8    891.584             12.94    11,537 
                   Band 9    3,286.041             12.90    42,390 
                   Band 17    818.907             12.96    10,613 
                   Band 19    1,336.724             12.93    17,284 
                   Band 20    882.816             12.85    11,344 
                   Band 24    11,791.009             12.92    152,340 
                   Band 25    325.299             12.87    4,187 
    31,995.332        $ 414,440 
                   ING Van Kampen Global Franchise             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 2    878.537    $ 12.18    $ 10,701 
                   Band 6    34,844.872             12.77    444,969 
                   Band 8    474.597             12.71    6,032 
                   Band 9    34.137             12.67    433 
                   Band 17    34,264.031             12.73    436,181 
                   Band 20    6,966.001             12.62    87,911 
                   Band 24    18,862.258             12.69    239,362 
                   Band 25    6,853.829             12.64    86,632 
                   Band 27    20,310.544             12.56    255,100 
    123,488.806        $ 1,567,321 
                   ING Van Kampen Growth and Income             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    5,216.330    $ 32.68    $ 170,470 
                   Band 2    576.472             11.36    6,549 
                   Band 3    39,982.453             32.04    1,281,038 
                   Band 6    27,816.973             12.74    354,388 
                   Band 8    941.712             12.68    11,941 
                   Band 9    4,600.765             12.64    58,154 
                   Band 10    714.102             12.60    8,998 
                   Band 17    20,255.221             12.70    257,241 
                   Band 19    1,264.514             12.67    16,021 
                   Band 20    4,059.561             12.59    51,110 
                   Band 22    728.236             12.56    9,147 
                   Band 24    7,217.818             12.66    91,378 
                   Band 25    2,525.933             12.61    31,852 
                   Band 26    7,534.373             12.58    94,782 
    123,434.463        $ 2,443,069 

114

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Van Kampen Real Estate Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    1,972.112    $ 83.11    $ 163,902 
                   Band 2    1,254.478             13.58    17,036 
                   Band 3    2,551.451             80.89    206,387 
                   Band 5    667.717             21.94    14,650 
                   Band 6    46,576.151             21.82    1,016,292 
                   Band 7    3,242.524             21.73    70,460 
                   Band 8    308.246             21.65    6,674 
                   Band 9    10,469.621             21.53    225,411 
                   Band 10    5,240.354             21.44    112,353 
                   Band 17    72,278.167             18.53    1,339,314 
                   Band 19    14,383.861             18.46    265,526 
                   Band 20    11,306.814             18.31    207,028 
                   Band 22    183.911             18.25    3,356 
                   Band 24    38,039.555             18.44    701,449 
                   Band 25    21,677.504             18.36    397,999 
                   Band 26    2,699.196             18.29    49,368 
                   Band 27    8,371.858             18.18    152,200 
                   Band 28    980.831             18.16    17,812 
    242,204.351        $ 4,967,217 
                   ING VP Index Plus International Equity             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    3,613.261    $ 12.72    $ 45,961 
                   Band 5    987.376             12.77    12,609 
                   Band 6    14,351.822             12.75    182,986 
                   Band 8    67.679             12.70    860 
                   Band 9    3,271.297             12.68    41,480 
                   Band 17    4,395.347             12.72    55,909 
                   Band 19    262.345             12.70    3,332 
                   Band 24    5,214.968             12.69    66,178 
                   Band 25    195.804             12.66    2,479 
    32,359.899        $ 411,794 
                   ING Wells Fargo Mid Cap Disciplined             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    4,077.756    $ 26.19    $ 106,796 
                   Band 3    32,567.723             25.62    834,385 
                   Band 6    84,486.094             12.81    1,082,267 
                   Band 9    1,865.062             12.70    23,686 
                   Band 17    6,170.419             12.76    78,735 
                   Band 19    450.763             12.73    5,738 
                   Band 20    1,021.067             12.66    12,927 
                   Band 24    8,039.125             12.72    102,258 
                   Band 25    2,414.447             12.68    30,615 
                   Band 28    165.382             12.58    2,081 
    141,257.838        $ 2,279,488 

115

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Wells Fargo Small Cap Disciplined             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    454.042    $ 11.48    $ 5,212 
                   Band 6    10,845.206             11.48    124,503 
                   Band 9    3,360.799             11.42    38,380 
                   Band 17    5,664.695             11.45    64,861 
                   Band 20    409.222             11.39    4,661 
                   Band 22    610.619             11.37    6,943 
                   Band 24    7,165.958             11.43    81,907 
                   Band 25    1,031.413             11.40    11,758 
    29,541.954        $ 338,225 
                   ING Baron Small Cap Growth Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    110.624    $ 12.51    $ 1,384 
                   Band 5    429.540             12.58    5,404 
                   Band 6    122,777.698             12.54    1,539,632 
                   Band 8    569.359             12.47    7,100 
                   Band 9    2,136.919             12.43    26,562 
                   Band 10    182.263             12.40    2,260 
                   Band 17    96,578.870             12.50    1,207,236 
                   Band 19    6,547.412             12.46    81,581 
                   Band 20    14,573.227             12.39    180,562 
                   Band 22    547.958             12.36    6,773 
                   Band 24    51,515.548             12.45    641,369 
                   Band 25    17,724.986             12.41    219,967 
                   Band 26    5,093.602             12.38    63,059 
                   Band 28    2,003.486             12.31    24,663 
    320,791.492        $ 4,007,552 
                   ING Columbia Small Cap Value II             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 6    22,521.172    $ 10.06    $ 226,563 
                   Band 8    589.602             10.04    5,920 
                   Band 9    1,307.483             10.03    13,114 
                   Band 17    18,899.274             10.05    189,938 
                   Band 24    35,041.306             10.04    351,815 
                   Band 25    7,384.618             10.02    73,994 
                   Band 27    389.037             10.00    3,890 
    86,132.492        $ 865,234 

116

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Davis Venture Value Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 6    39,777.033    $ 11.15    $ 443,514 
                   Band 9    3,323.228             11.08    36,821 
                   Band 17    114,294.017             11.12    1,270,949 
                   Band 19    545.227             11.10    6,052 
                   Band 20    6,897.073             11.06    76,282 
                   Band 24    27,919.919             11.10    309,911 
                   Band 25    19,732.797             11.07    218,442 
                   Band 26    3,402.131             11.05    37,594 
                   Band 27    2,422.164             11.02    26,692 
                   Band 28    1,289.247             11.02    14,208 
    219,602.836        $ 2,440,465 
                   ING Fundamental Research Portfolio - Initial Class             
                   Contracts in accumulation period:             
                   Band 2    60,088.671    $ 10.49    $ 630,330 
                   Band 4    163,349.553             10.48    1,711,903 
    223,438.224        $ 2,342,233 
                   ING Fundamental Research Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 17    93.002    $ 12.17    $ 1,132 
                   Band 24    344.663             12.12    4,177 
    437.665        $ 5,309 
                   ING JPMorgan International Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    1,456.487    $ 18.08    $ 26,333 
                   Band 5    296.691             18.30    5,429 
                   Band 6    22,463.878             18.17    408,169 
                   Band 8    1,764.030             17.99    31,735 
                   Band 9    4,301.197             17.87    76,862 
                   Band 17    72,660.424             15.17    1,102,259 
                   Band 19    2,393.162             15.11    36,161 
                   Band 20    11,162.185             14.99    167,321 
                   Band 24    15,460.085             15.10    233,447 
                   Band 25    12,162.438             15.02    182,680 
                   Band 26    384.623             14.97    5,758 
                   Band 27    548.660             14.88    8,164 
                   Band 28    375.726             14.86    5,583 
    145,429.586        $ 2,289,901 

117

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING JPMorgan Mid Cap Value Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    1,979.723    $ 17.45    $ 34,546 
                   Band 6    19,297.270             17.29    333,650 
                   Band 7    90.495             17.17    1,554 
                   Band 8    5,687.750             17.05    96,976 
                   Band 9    13,747.763             16.89    232,200 
                   Band 10    1,270.602             16.77    21,308 
                   Band 17    4,996.614             13.74    68,653 
                   Band 19    3,379.502             13.69    46,265 
                   Band 20    1,729.197             13.58    23,482 
                   Band 24    4,716.883             13.67    64,480 
                   Band 25    4,373.206             13.61    59,519 
                   Band 27    41.987             13.48    566 
    61,310.992        $ 983,199 
                   ING Legg Mason Partners Aggressive Growth             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    574.673    $ 14.04    $ 8,068 
                   Band 6    11,762.920             13.95    164,093 
                   Band 8    1,679.154             13.81    23,189 
                   Band 9    3,433.706             13.72    47,110 
                   Band 17    18,897.018             13.13    248,118 
                   Band 19    1,358.521             13.08    17,769 
                   Band 20    3,847.412             12.98    49,939 
                   Band 24    31,344.401             13.07    409,671 
                   Band 25    4,326.954             13.01    56,294 
                   Band 26    6,761.810             12.96    87,633 
                   Band 28    1,316.210             12.87    16,940 
    85,302.779        $ 1,128,824 
                   ING Neuberger Berman Partners             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 1    2,591.079    $ 10.31    $ 26,714 
                   Band 3    29,151.201             10.30    300,257 
                   Band 5    1,318.552             10.33    13,621 
                   Band 6    9,918.094             10.31    102,256 
                   Band 8    2,553.190             10.29    26,272 
                   Band 9    825.908             10.28    8,490 
                   Band 17    22,011.371             10.30    226,717 
                   Band 19    1,389.832             10.29    14,301 
                   Band 20    3,857.438             10.26    39,577 
                   Band 24    4,402.118             10.28    45,254 
                   Band 26    814.654             10.26    8,358 
                   Band 28    531.606             10.24    5,444 
    79,365.043        $ 817,261 

118

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Neuberger Berman Regency             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 6    406.538    $ 10.09    $ 4,102 
                   Band 17    4,211.657             10.08    42,454 
    4,618.195        $ 46,556 
                   ING Oppenheimer Global Portfolio - Initial Class             
                   Contracts in accumulation period:             
                   Band 5    3,924.607    $ 14.05    $ 55,141 
                   Band 6    2,166.304             14.00    30,328 
                   Band 8    2,231.626             13.93    31,087 
                   Band 9    3,224.926             13.88    44,762 
                   Band 17    3,456.524             13.95    48,219 
                   Band 19    715.937             13.92    9,966 
                   Band 20    1,731.325             13.83    23,944 
                   Band 24    766.950             13.91    10,668 
                   Band 25    775.800             13.86    10,753 
    18,993.999        $ 264,868 
                   ING Oppenheimer Global Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 3    1,866.868    $ 13.88    $ 25,912 
                   Band 5    812.634             16.13    13,108 
                   Band 6    96,821.071             15.98    1,547,201 
                   Band 8    28,687.384             15.76    452,113 
                   Band 9    92,843.147             15.61    1,449,282 
                   Band 17    80,397.264             15.11    1,214,803 
                   Band 19    2,617.205             15.05    39,389 
                   Band 20    25,301.694             14.93    377,754 
                   Band 22    1,967.702             14.88    29,279 
                   Band 24    83,880.466             15.04    1,261,562 
                   Band 25    99,316.305             14.97    1,486,765 
                   Band 26    6,493.769             14.91    96,822 
                   Band 27    12,298.764             14.82    182,268 
                   Band 28    1,180.825             14.80    17,476 
    534,485.098        $ 8,193,734 
                   ING Templeton Foreign Equity Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    1,870.673    $ 11.21    $ 20,970 
                   Band 6    8,762.867             11.20    98,144 
                   Band 9    22.435             11.16    250 
                   Band 17    4,597.564             11.18    51,401 
                   Band 19    1,055.141             11.17    11,786 
                   Band 24    23,615.168             11.16    263,545 
                   Band 25    1,805.579             11.15    20,132 
    41,729.427        $ 466,228 

119

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Thornburg Value Portfolio - Initial Class             
                   Contracts in accumulation period:             
                   Band 9    370.470    $ 9.76    $ 3,616 
                   Band 17    619.448    12.95    8,022 
    989.918        $ 11,638 
                   ING UBS U.S. Large Cap Equity             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    598.396    $ 13.66    $ 8,174 
                   Band 6    11,440.840    13.59    155,481 
                   Band 8    150.970    13.48    2,035 
                   Band 9    1,488.944    13.41    19,967 
                   Band 17    17,226.119    13.48    232,208 
                   Band 20    2,771.637    13.32    36,918 
                   Band 22    36.098    13.28    479 
                   Band 24    8,212.484    13.42    110,212 
                   Band 25    574.449    13.35    7,669 
                   Band 26    595.370    13.31    7,924 
    43,095.307        $ 581,067 
                   ING UBS U.S. Small Cap Growth             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 9    23.637    $ 9.67    $ 229 
                   Band 17    117.634    9.69    1,140 
                   Band 24    577.073    9.67    5,580 
    718.344        $ 6,949 
                   ING Van Kampen Comstock Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 5    6,889.615    $ 14.47    $ 99,693 
                   Band 6    60,885.158    14.34    873,093 
                   Band 8    8,249.597    14.14    116,649 
                   Band 9    6,320.462    14.01    88,550 
                   Band 17    66,406.969    12.98    861,962 
                   Band 19    5,255.296    12.93    67,951 
                   Band 20    31,012.070    12.83    397,885 
                   Band 22    3,024.764    12.78    38,656 
                   Band 24    45,247.980    12.92    584,604 
                   Band 25    29,315.423    12.86    376,996 
                   Band 26    1,825.144    12.81    23,380 
                   Band 27    12,041.776    12.74    153,412 
                   Band 28    1,127.050    12.72    14,336 
    277,601.304        $ 3,697,167 

120

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING Van Kampen Equity and Income             
                       Portfolio - Service Class             
                   Contracts in accumulation period:             
                   Band 6    12,237.548    $ 12.07    $ 147,707 
                   Band 9    8,794.297             11.97    105,268 
                   Band 17    2,548.299             12.03    30,656 
                   Band 19    2,852.175             12.00    34,226 
                   Band 20    3,905.754             11.92    46,557 
                   Band 22    109.897             11.89    1,307 
                   Band 24    9,770.526             11.98    117,051 
                   Band 25    2,769.793             11.94    33,071 
                   Band 28    2,234.965             11.85    26,484 
    45,223.254        $ 542,327 
                   ING GET U.S. Core Portfolio - Series 1             
                   Contracts in accumulation period:             
                   Band 5    32,252.379    $ 11.10    $ 358,001 
                   Band 6    24,733.227             11.02    272,560 
                   Band 7    19,053.527             10.96    208,827 
                   Band 8    119,144.539             10.91    1,299,867 
                   Band 9    115,865.816             10.83    1,254,827 
                   Band 10    13,869.466             10.77    149,374 
    324,918.954        $ 3,543,456 
                   ING GET U.S. Core Portfolio - Series 2             
                   Contracts in accumulation period:             
                   Band 5    84,587.588    $ 10.70    $ 905,087 
                   Band 6    15,754.661             10.63    167,472 
                   Band 7    11,074.112             10.57    117,053 
                   Band 8    189,723.382             10.52    1,995,890 
                   Band 9    137,659.220             10.45    1,438,539 
                   Band 10    86,291.905             10.40    897,436 
    525,090.868        $ 5,521,477 
                   ING GET U.S. Core Portfolio - Series 3             
                   Contracts in accumulation period:             
                   Band 5    18,713.558    $ 10.37    $ 194,060 
                   Band 6    31,625.158             10.30    325,739 
                   Band 7    3,662.988             10.26    37,582 
                   Band 8    126,329.330             10.21    1,289,822 
                   Band 9    94,541.417             10.15    959,595 
                   Band 10    20,756.001             10.10    209,636 
    295,628.452        $ 3,016,434 
                   ING GET U.S. Core Portfolio - Series 4             
                   Contracts in accumulation period:             
                   Band 5    52,635.731    $ 11.02    $ 580,046 
                   Band 6    1,348.643             10.96    14,781 
                   Band 8    147,307.145             10.87    1,601,229 
                   Band 9    73,744.733             10.81    797,181 
                   Band 10    25,897.359             10.76    278,656 
    300,933.611        $ 3,271,893 

121

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING GET U.S. Core Portfolio - Series 5             
                   Contracts in accumulation period:             
                   Band 5    19,685.362    $ 11.62    $ 228,744 
                   Band 6    48,824.053             11.56    564,406 
                   Band 8    113,003.219             11.47    1,296,147 
                   Band 9    148,167.837             11.41    1,690,595 
                   Band 10    8.381             11.37    95 
                   Band 17    9,203.725             11.52    106,027 
    338,892.577        $ 3,886,014 
                   ING GET U.S. Core Portfolio - Series 6             
                   Contracts in accumulation period:             
                   Band 5    6,060.130    $ 11.09    $ 67,207 
                   Band 6    12,643.899             11.04    139,589 
                   Band 8    12,628.616             10.96    138,410 
                   Band 9    70,864.110             10.91    773,127 
                   Band 17    12,089.469             10.99    132,863 
                   Band 20    54,144.747             10.86    588,012 
                   Band 22    2,084.839             10.82    22,558 
    170,515.810        $ 1,861,766 
                   ING GET U.S. Core Portfolio - Series 7             
                   Contracts in accumulation period:             
                   Band 6    45,190.442    $ 10.90    $ 492,576 
                   Band 8    135.599             10.83    1,469 
                   Band 9    226,794.876             10.79    2,447,117 
                   Band 17    7,369.575             10.85    79,960 
                   Band 20    52,323.460             10.74    561,954 
    331,813.952        $ 3,583,076 
                   ING GET U.S. Core Portfolio - Series 8             
                   Contracts in accumulation period:             
                   Band 5    1,166.093    $ 11.02    $ 12,850 
                   Band 6    10,142.848             10.98    111,368 
                   Band 8    1,101.515             10.92    12,029 
                   Band 9    23,482.148             10.88    255,486 
                   Band 10    2,937.844             10.85    31,876 
                   Band 20    23,651.814             10.84    256,386 
    62,482.262        $ 679,995 
                   ING GET U.S. Core Portfolio - Series 9             
                   Contracts in accumulation period:             
                   Band 5    40.404    $ 10.82    $ 437 
                   Band 8    11,825.085             10.74    127,001 
                   Band 9    2,415.214             10.71    25,867 
                   Band 17    3,980.245             10.76    42,827 
                   Band 20    17,360.045             10.67    185,232 
    35,620.993        $ 381,364 

122

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING GET U.S. Core Portfolio - Series 10             
                   Contracts in accumulation period:             
                   Band 5    22,216.354    $ 10.79    $ 239,714 
                   Band 8    70,079.215    10.72    751,249 
                   Band 9    397.622    10.69    4,251 
                   Band 10    196.885    10.67    2,101 
    92,890.076        $ 997,315 
                   ING GET U.S. Core Portfolio - Series 11             
                   Contracts in accumulation period:             
                   Band 5    5,253.508    $ 10.64    $ 55,897 
                   Band 6    26,110.269    10.62    277,291 
                   Band 8    143,656.871    10.58    1,519,890 
                   Band 9    320,634.850    10.56    3,385,904 
                   Band 17    10,106.718    10.59    107,030 
                   Band 20    1,038.654    10.54    10,947 
    506,800.870        $ 5,356,959 
                   ING GET U.S. Core Portfolio - Series 12             
                   Contracts in accumulation period:             
                   Band 5    1,407.667    $ 11.23    $ 15,808 
                   Band 8    1,588.661    11.19    17,777 
                   Band 9    101,401.951    11.17    1,132,660 
                   Band 10    149.674    11.15    1,669 
                   Band 20    317.364    11.15    3,539 
    104,865.317        $ 1,171,453 
                   ING GET U.S. Core Portfolio - Series 13             
                   Contracts in accumulation period:             
                   Band 8    54,616.051    $ 10.08    $ 550,530 
                   Band 9    437,513.171    10.07    4,405,758 
                   Band 10    35,955.634    10.06    361,714 
                   Band 17    9,142.583    10.08    92,157 
                   Band 20    407,009.237    10.05    4,090,443 
                   Band 22    5,527.799    10.05    55,554 
    949,764.475        $ 9,556,156 
                   ING VP Global Equity Dividend Portfolio             
                   Contracts in accumulation period:             
                   Band 3    2,602.004    $ 9.24    $ 24,043 
                   Band 5    920.386    9.46    8,707 
                   Band 6    7,154.212    9.34    66,820 
                   Band 8    1,050.450    9.15    9,612 
                   Band 9    7,553.346    9.03    68,207 
                   Band 17    3,500.089    14.34    50,191 
                   Band 19    754.733    14.29    10,785 
                   Band 20    1,216.102    14.17    17,232 
                   Band 24    2,119.803    14.28    30,271 
                   Band 25    1,882.172    14.21    26,746 
                   Band 27    4,471.277    14.07    62,911 
    33,224.574        $ 375,525 

123

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING VP Index Plus LargeCap Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 5    14,665.398    $ 11.63    $ 170,559 
                   Band 6    62,668.660             11.50    720,690 
                   Band 7    118.475             11.40    1,351 
                   Band 8    8,160.603             11.31    92,296 
                   Band 9    19,375.595             11.19    216,813 
                   Band 10    403.796             11.10    4,482 
                   Band 17    56,997.954             12.81    730,144 
                   Band 19    1,032.015             12.77    13,179 
                   Band 20    10,617.216             12.66    134,414 
                   Band 22    75.487             12.62    953 
                   Band 24    71,983.285             12.75    917,787 
                   Band 25    69,979.211             12.69    888,036 
                   Band 26    3,221.957             12.65    40,758 
                   Band 27    5,317.802             12.57    66,845 
                   Band 28    4,304.910             12.56    54,070 
    328,922.364        $ 4,052,377 
                   ING VP Index Plus MidCap Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 2    89.809    $ 10.75    $ 965 
                   Band 5    4,909.980             15.33    75,270 
                   Band 6    64,208.548             15.16    973,402 
                   Band 8    10,691.325             14.91    159,408 
                   Band 9    18,784.093             14.75    277,065 
                   Band 10    198.995             14.63    2,911 
                   Band 17    117,795.450             13.41    1,579,637 
                   Band 19    3,880.255             13.37    51,879 
                   Band 20    17,361.667             13.26    230,216 
                   Band 22    270.394             13.21    3,572 
                   Band 24    107,795.970             13.35    1,439,076 
                   Band 25    68,270.223             13.29    907,311 
                   Band 26    2,954.159             13.24    39,113 
                   Band 27    11,636.593             13.16    153,138 
                   Band 28    4,287.914             13.14    56,343 
    433,135.375        $ 5,949,306 

124

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING VP Index Plus SmallCap Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 1    966.406    $ 12.78    $ 12,351 
                   Band 2    87.691             10.99    964 
                   Band 3    208.262             12.75    2,655 
                   Band 5    1,659.481             16.73    27,763 
                   Band 6    38,456.862             16.55    636,461 
                   Band 7    588.872             16.41    9,663 
                   Band 8    12,575.004             16.28    204,721 
                   Band 9    23,048.916             16.10    371,088 
                   Band 17    85,488.088             13.88    1,186,575 
                   Band 19    3,467.539             13.83    47,956 
                   Band 20    5,527.617             13.72    75,839 
                   Band 22    68.049             13.67    930 
                   Band 24    118,871.433             13.82    1,642,803 
                   Band 25    65,317.956             13.75    898,122 
                   Band 26    2,522.804             13.70    34,562 
                   Band 27    13,855.612             13.62    188,713 
                   Band 28    4,013.118             13.60    54,578 
    376,723.710        $ 5,395,744 
                   ING VP Value Opportunity Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 6    240.878    $ 10.57    $ 2,546 
                   Band 8    3,062.668             10.39    31,821 
                   Band 9    6,161.823             10.28    63,344 
                   Band 17    2,007.927             12.91    25,922 
                   Band 19    1,039.453             12.86    13,367 
                   Band 20    2.839             12.76    36 
                   Band 24    1,649.517             12.85    21,196 
    14,165.105        $ 158,232 
                   ING VP Financial Services Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 5    141.366    $ 13.73    $ 1,941 
                   Band 6    11,916.432             13.65    162,659 
                   Band 8    3,645.140             13.54    49,355 
                   Band 9    2,556.465             13.47    34,436 
                   Band 17    38,990.304             13.41    522,860 
                   Band 20    767.802             13.25    10,173 
                   Band 24    10,471.818             13.35    139,799 
                   Band 25    8,136.127             13.28    108,048 
                   Band 26    430.187             13.24    5,696 
                   Band 27    1,369.452             13.16    18,022 
                   Band 28    1,103.025             13.14    14,494 
    79,528.118        $ 1,067,483 

125

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ING VP MidCap Opportunities Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 1    4,650.249    $ 8.74    $ 40,643 
                   Band 3    557.984    8.66    4,832 
    5,208.233        $ 45,475 
                   ING VP SmallCap Opportunities Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 3    2,471.808    $ 8.13    $ 20,096 
                   Band 6    11,878.696    13.31    158,105 
                   Band 9    4.300    13.20    57 
                   Band 10    158.135    13.16    2,081 
                   Band 17    12,239.916    13.26    162,301 
                   Band 20    5,032.592    13.15    66,179 
                   Band 24    4,088.396    13.22    54,049 
                   Band 25    5,367.910    13.17    70,695 
    41,241.753        $ 533,563 
                   ING VP Balanced Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 5    4,353.379    $ 10.51    $ 45,754 
                   Band 6    911.501    10.49    9,562 
                   Band 8    4,340.365    10.47    45,444 
                   Band 9    8,763.743    10.46    91,669 
                   Band 17    2,103.580    10.48    22,046 
                   Band 19    647.987    10.47    6,784 
                   Band 20    3,768.893    10.44    39,347 
                   Band 24    5,348.224    10.46    55,942 
                   Band 27    615.360    10.42    6,412 
    30,853.032        $ 322,960 
                   ING VP Intermediate Bond Portfolio - Class S             
                   Contracts in accumulation period:             
                   Band 2    212.666    $ 10.32    $ 2,195 
                   Band 5    1,944.828    10.40    20,226 
                   Band 6    191,871.096    10.36    1,987,785 
                   Band 8    2,631.954    10.31    27,135 
                   Band 9    13,225.164    10.27    135,822 
                   Band 17    63,521.756    10.33    656,180 
                   Band 19    8,592.886    10.30    88,507 
                   Band 20    4,094.415    10.24    41,927 
                   Band 24    57,755.187    10.29    594,301 
                   Band 25    21,935.951    10.26    225,063 
                   Band 27    3,488.409    10.18    35,512 
                   Band 28    4,276.636    10.18    43,536 
    373,550.948        $ 3,858,189 
                   Legg Mason Partners Variable Lifestyle Balanced             
                       Portfolio             
                   Contracts in accumulation period:             
                   Band 2    49,633.722    $ 16.16    $ 802,081 
                   Band 4    109,518.719    15.92    1,743,538 
    159,152.441        $ 2,545,619 

126

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   Legg Mason Partners Variable Lifestyle Growth             
                       Portfolio             
                   Contracts in accumulation period:             
                   Band 2    13,386.830    $ 14.78    $ 197,857 
                   Band 4    53,367.172             14.56    777,026 
    66,754.002        $ 974,883 
                   Legg Mason Partners Variable Lifestyle High Growth             
                       Portfolio             
                   Contracts in accumulation period:             
                   Band 2    4,884.037    $ 15.53    $ 75,849 
                   Band 4    24,269.175             15.30    371,318 
    29,153.212        $ 447,167 
                   Legg Mason Partners Variable High Income Portfolio             
                   Contracts in accumulation period:             
                   Band 2    7,530.807    $ 17.40    $ 131,036 
                   Band 4    5,008.898             17.10    85,652 
    12,539.705        $ 216,688 
                   Legg Mason Partners Variable International All Cap             
                       Growth Portfolio             
                   Contracts in accumulation period:             
                   Band 2    3,155.470    $ 17.93    $ 56,578 
                   Band 4    9,222.691             17.61    162,412 
    12,378.161        $ 218,990 
                   Legg Mason Partners Variable Large Cap Value             
                       Portfolio             
                   Contracts in accumulation period:             
                   Band 2    10,364.414    $ 24.10    $ 249,782 
                   Band 4    17,438.000             23.68    412,932 
    27,802.414        $ 662,714 
                   Legg Mason Partners Variable Money Market Portfolio             
                   Contracts in accumulation period:             
                   Band 2    1,520.733    $ 13.18    $ 20,043 
                   Band 4    12,947.794             12.94    167,544 
    14,468.527        $ 187,587 

127

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   Colonial Small Cap Value Fund, Variable             
Series - Class B             
                   Contracts in accumulation period:             
                   Band 1    1,517.321    $ 13.41    $ 20,347 
                   Band 3    143.482    13.37    1,918 
                   Band 5    222.196    13.46    2,991 
                   Band 6    22,534.981    13.41    302,194 
                   Band 8    46.550    13.34    621 
                   Band 9    1,950.181    13.30    25,937 
                   Band 10    173.878    13.26    2,306 
                   Band 17    25,963.432    13.36    346,871 
                   Band 19    1,148.143    13.33    15,305 
                   Band 20    8,888.475    13.25    117,772 
                   Band 24    28,935.473    13.32    385,421 
                   Band 25    4,533.033    13.27    60,153 
                   Band 26    2,415.014    13.24    31,975 
                   Band 27    5,704.625    13.18    75,187 
                   Band 28    608.187    13.17    8,010 
    104,784.971        $ 1,397,008 
                   Pioneer Small Cap Value VCT Portfolio - Class II             
                   Contracts in accumulation period:             
                   Band 5    2,998.345    $ 10.71    $ 32,112 
                   Band 6    788.993    10.70    8,442 
                   Band 8    2,814.442    10.68    30,058 
                   Band 9    4,412.992    10.67    47,087 
                   Band 17    2,418.196    10.69    25,851 
                   Band 20    1,148.259    10.66    12,240 
                   Band 24    4,511.012    10.68    48,178 
                   Band 25    78.621    10.66    838 
    19,170.860        $ 204,806 
                   ProFund VP Bull             
                   Contracts in accumulation period:             
                   Band 6    963.633    $ 10.15    $ 9,781 
                   Band 9    2,561.065    9.86    25,252 
                   Band 17    721.182    12.33    8,892 
                   Band 24    60.029    12.28    737 
                   Band 25    428.043    12.22    5,231 
                   Band 27    4,258.615    12.10    51,529 
    8,992.567        $ 101,422 

128

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK         
SEPARATE ACCOUNT NY-B             
Notes to Financial Statements             
 
 
 
                                                             Division/Contract    Units Outstanding    Unit Value    Extended Value 
                   ProFund VP Europe 30             
                   Contracts in accumulation period:             
                   Band 5    564.766    $ 11.76    $ 6,642 
                   Band 6    1,643.292    11.62    19,095 
                   Band 8    244.285    11.43    2,792 
                   Band 9    966.201    11.30    10,918 
                   Band 17    1,377.565    13.98    19,258 
                   Band 19    413.201    13.93    5,756 
                   Band 20    2,689.207    13.81    37,138 
                   Band 24    2,196.375    13.91    30,552 
    10,094.892        $ 132,151 
                   ProFund VP Rising Rates Opportunity             
                   Contracts in accumulation period:             
                   Band 3    6,892.887    $ 8.12    $ 55,970 
                   Band 5    3,231.381    8.21    26,530 
                   Band 6    7,652.482    8.16    62,444 
                   Band 9    3,304.983    8.02    26,506 
                   Band 10    1,992.078    7.98    15,897 
                   Band 17    351.606    9.30    3,270 
                   Band 19    1,329.272    9.27    12,322 
                   Band 20    12,579.443    9.19    115,605 
                   Band 24    12,241.420    9.26    113,356 
                   Band 25    5,827.046    9.21    53,667 
                   Band 27    768.897    9.12    7,012 
                   Band 28    257.810    9.11    2,349 
    56,429.305        $ 494,928 
                   ProFund VP Small-Cap             
                   Contracts in accumulation period:             
                   Band 1    449.340    $ 13.52    $ 6,075 
                   Band 3    664.175    13.40    8,900 
                   Band 5    2,869.455    13.67    39,225 
                   Band 6    3,528.520    13.52    47,706 
                   Band 8    1,865.446    13.29    24,792 
                   Band 9    2,147.884    13.14    28,223 
                   Band 10    1,564.889    13.03    20,391 
                   Band 17    4,793.553    13.48    64,617 
                   Band 19    116.293    13.43    1,562 
                   Band 20    1,324.534    13.32    17,643 
                   Band 24    3,306.046    13.42    44,367 
                   Band 25    414.781    13.35    5,537 
    23,044.916        $ 309,038 

129

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
SEPARATE ACCOUNT NY-B
Notes to Financial Statements

8. Financial Highlights

A summary of unit values, units outstanding and net assets for variable annuity contracts, expense ratios, excluding expenses of underlying funds, investment income ratios, and total return for the years ended December 31, 2006, 2005, 2004, 2003 and 2002, follows:

                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                       Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
AIM V.I. Leisure Fund - Series I Shares                             
   2006        27    $13.90 to $14.43    $ 386    1.27%    1.25% to 2.45%    21.80% to 23.02% 
   2005        24    $11.41 to $11.73    275    2.03%    1.25% to 2.45%    -2.95% to -2.87% 
   2004        2    $11.85 to $11.86    20    -    1.65% to 1.75%    11.47% 
   2003        -    $10.64    1    (b)    1.75%    (b) 
   2002        (b)    (b)    (b)    (b)    (b)    (b) 
Fidelity® VIP Equity-Income                             
   Portfolio - Service Class 2                             
   2006        374    $13.01 to $13.83    5,024    2.86%    1.05% to 2.45%    17.28% to 18.71% 
   2005        275    $11.21 to $11.65    3,121    1.06%    1.05% to 2.25%    3.51% to 4.48% 
   2004        145    $10.83 to $11.15    1,593    0.55%    1.05% to 1.95%    9.17% to 10.07% 
   2003        22    $9.92 to $10.13    219    (b)    1.05% to 1.90%    (b) 
   2002        (b)    (b)    (b)    (b)    (b)    (b) 
Fidelity® VIP Contrafund®                             
   Portfolio - Service Class 2                             
   2006        852    $13.15 to $16.00    12,705    1.09%    1.05% to 2.45%    8.88% to 10.27% 
   2005        344    $11.97 to $14.51    4,669    0.04%    1.05% to 2.45%    14.20% to 15.43% 
   2004        79    $11.27 to $12.57    969    0.17%    1.05% to 2.10%    13.19% to 13.96% 
   2003        21    $10.84 to $11.03    230    (b)    1.05% to 1.75%    (b) 
   2002        (b)    (b)    (b)    (b)    (b)    (b) 
Mutual Shares Securities Fund - Class 2                             
   2006        94    $10.81 to $10.91    1,020    (f)    1.05% to 2.45%    (f) 
   2005        (f)    (f)    (f)    (f)    (f)    (f) 
   2004        (f)    (f)    (f)    (f)    (f)    (f) 
   2003        (f)    (f)    (f)    (f)    (f)    (f) 
   2002        (f)    (f)    (f)    (f)    (f)    (f) 

130

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                         
Notes to Financial Statements                         
 
 
 
                Investment         
    Units    Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)    (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING AllianceBernstein Mid Cap Growth                         
                       Portfolio - Service Class                         
                       2006    167    $12.48 to $21.06    $ 2,388    -    1.25% to 2.45%    -0.64% to 0.48% 
                       2005    91    $12.56 to $20.96    1,477    -    1.25% to 2.45%    5.36% to 5.54% 
                       2004    47    $19.60 to $19.86    927    -    1.25% to 1.40%    17.86% to 18.00% 
                       2003    63    $16.63 to $16.83    1,046    -    1.25% to 1.40%    64.65% to 65.00% 
                       2002    71    $10.10 to $10.20    723    -    1.25% to 1.40%    -31.01% to -30.89% 
                   ING American Funds Growth Portfolio                         
                       2006    1,846    $10.93 to $14.82    25,908    0.17%    1.05% to 2.45%    7.10% to 8.49% 
                       2005    831    $12.68 to $13.66    10,807    -    1.05% to 2.45%    13.18% to 14.41% 
                       2004    108    $11.23 to $11.94    1,273    -    1.05% to 2.10%    9.86% to 10.48% 
                       2003    3    $10.75 to $10.78    35    (b)    1.25% to 1.90%    (b) 
                       2002    (b)    (b)    (b)    (b)    (b)    (b) 
                   ING American Funds Growth-Income Portfolio                         
                       2006    1,520    $11.32 to $14.13    19,830    0.67%    1.05% to 2.45%    11.99% to 13.40% 
                       2005    826    $11.17 to $12.46    9,574    0.26%    1.05% to 2.45%    3.13% to 4.27% 
                       2004    102    $10.86 to $11.95    1,202    0.16%    1.05% to 2.10%    7.75% to 8.64% 
                       2003    7    $10.97 to $11.00    79    (b)    1.05% to 1.90%    (b) 
                       2002    (b)    (b)    (b)    (b)    (b)    (b) 
                   ING American Funds International Portfolio                         
                       2006    769    $12.35 to $19.14    12,769    0.68%    1.05% to 2.45%    15.65% to 17.14% 
                       2005    379    $13.55 to $16.34    5,458    0.43%    1.05% to 2.45%    18.54% to 19.62% 
                       2004    43    $11.48 to $13.66    571    0.34%    1.05% to 2.00%    16.38% to 17.21% 
                       2003    2    $11.60 to $11.62    22    (b)    1.25% to 1.90%    (b) 
                       2002    (b)    (b)    (b)    (b)    (b)    (b) 
                   ING BlackRock Large Cap Growth                         
                       Portfolio - Service Class                         
                       2006    43    $12.16 to $12.36    522    -    1.05% to 2.00%    5.00% to 6.00% 
                       2005    23    $11.59 to $11.66    267    (e)    1.05% to 1.95%    (e) 
                       2004    (e)    (e)    (e)    (e)    (e)    (e) 
                       2003    (e)    (e)    (e)    (e)    (e)    (e) 
                       2002    (e)    (e)    (e)    (e)    (e)    (e) 

131

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING BlackRock Large Cap Value                             
                       Portfolio - Service Class                             
                       2006        32    $12.63 to $12.91    $ 410    0.54%    1.05% to 2.45%    13.68% to 14.82% 
                       2005        14    $11.11 to $11.20    152    (e)    1.25% to 2.45%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002                             
                   ING Capital Guardian Small/Mid Cap                             
                       Portfolio - Service Class                             
                       2006        118    $11.98 to $21.27    2,207    0.44%    1.25% to 1.95%    10.52% to 11.39% 
                       2005        137    $10.84 to $19.10    2,366    0.17%    1.25% to 1.95%    -2.39% to -2.25% 
                       2004        119    $19.27 to $19.54    2,302    0.18%    1.25% to 1.40%    5.94% to 6.14% 
                       2003        125    $18.19 to $18.41    2,267    0.16%    1.25% to 1.40%    38.43% to 38.63% 
                       2002        115    $13.14 to $13.28    1,511    0.12%    1.25% to 1.40%    -26.47% to -26.34% 
                   ING Capital Guardian U.S. Equities                             
                       Portfolio - Service Class                             
                       2006        68    $12.01 to $12.58    832    0.42%    1.25% to 2.00%    8.09% to 8.95% 
                       2005        58    $11.12 to $11.56    659    0.47%    1.25% to 1.95%    4.66% to 4.90% 
                       2004        55    $10.94 to $11.02    606    0.18%    1.25% to 1.40%    7.78% to 7.93% 
                       2003        48    $10.15 to $10.21    483    -    1.25% to 1.40%    34.79% to 35.05% 
                       2002        38    $7.53 to $7.56    290    0.17%    1.25% to 1.40%    -24.85% to -24.78% 
                   ING EquitiesPlus Portfolio - Service Class                             
                       2006        15    $10.73 to $10.76    165    (f)    1.25% to 1.65%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Evergreen Health Sciences                             
                       Portfolio - Service Class                             
                       2006        233    $12.00 to $13.20    2,896    -    1.05% to 2.45%    11.27% to 12.72% 
                       2005        119    $10.72 to $11.76    1,324    -    1.05% to 2.45%    8.35% to 9.26% 
                       2004        8    $9.88 to $10.80    86    (d)    1.05% to 1.95%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 

132

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Evergreen Omega Portfolio - Service Class                             
                       2006        7    $11.09 to $12.02    $ 82    -    1.05% to 2.25%    3.24% to 4.44% 
                       2005        7    $10.69 to $11.56    77    (e)    1.05% to 2.25%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING FMRSM Diversified Mid Cap                             
                       Portfolio - Service Class                             
                       2006        385    $13.05 to $14.96    5,132    -    1.05% to 2.45%    9.30% to 10.57% 
                       2005        159    $11.94 to $13.53    1,952    -    1.05% to 2.45%    15.19% to 15.44% 
                       2004        14    $11.65 to $11.72    168    -    1.25% to 1.40%    22.37% to 22.59% 
                       2003        7    $9.52 to $9.56    69    -    1.25% to 1.40%    31.67% to 31.68% 
                       2002        8    $7.23 to $7.26    56    0.18%    1.40%    -20.55% 
                   ING FMRSM Large Cap Growth                             
                       Portfolio - Service Class                             
                       2006        57    $10.49 to $10.70    611    -    1.05% to 2.25%    0.29% to 1.42% 
                       2005        40    $10.46 to $10.55    420    (e)    1.05% to 2.25%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING FMRSM Mid Cap Growth                             
                       Portfolio - Service Class                             
                       2006        172    $11.70 to $26.72    3,036    -    1.25% to 1.85%    2.72% to 3.32% 
                       2005        90    $11.39 to $25.87    2,186    -    1.25% to 1.85%    1.68% to 1.81% 
                       2004        90    $24.98 to $25.41    2,249    -    1.25% to 1.40%    13.44% to 13.64% 
                       2003        101    $22.02 to $22.36    2,217    -    1.25% to 1.40%    37.20% to 37.35% 
                       2002        100    $16.05 to $16.28    1,602    -    1.25% to 1.40%    -49.53% to -49.44% 
                   ING Franklin Income Portfolio - Service Class                             
                       2006        257    $10.86 to $10.95    2,809    (f)    1.05% to 2.45%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 

133

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Global Real Estate Portfolio - Service Class                             
                       2006        148    $13.54 to $13.64    $ 2,017    (f)    1.25% to 2.25%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Global Resources Portfolio - Service Class                             
                       2006        188    $15.77 to $36.98    3,098    0.14%    1.05% to 2.45%    18.72% to 19.91% 
                       2005        60    $13.30 to $30.84    894    0.20%    1.25% to 2.25%    35.83% to 36.04% 
                       2004        5    $22.13 to $22.60    110    1.22%    1.25% to 1.40%    4.93% to 5.05% 
                       2003        3    $21.09 to $21.58    54    -    1.25% to 1.40%    50.11% to 50.38% 
                       2002        2    $14.05 to $14.35    28    0.52%    1.25% to 1.40%    -0.57% to -0.49% 
                   ING Global Technology Portfolio - Service Class                             
                       2006        14    $7.76 to $12.33    161    -    1.25% to 1.95%    7.21% to 7.93% 
                       2005        11    $7.19 to $11.43    112    -    1.25% to 1.95%    0.70% to 0.70% 
                       2004        2    $7.14    13    (g)    1.25%    (g) 
                       2003        (g)    (g)    (g)    (g)    (g)    (g) 
                       2002        (g)    (g)    (g)    (g)    (g)    (g) 
                   ING International Portfolio - Service Class                             
                       2006        19    $13.81    268    1.61%    1.40%    19.88% 
                       2005        20    $11.52 to $11.52    226    2.30%    1.40%    8.99% 
                       2004        20    $10.57    208    1.03%    1.40%    15.02% 
                       2003        20    $9.19 to $9.30    182    -    1.25% to 1.40%    27.46% to 27.57% 
                       2002        -    $7.21 to $7.29    1    (a)    1.40%    (a) 
                   ING Janus Contrarian Portfolio - Service Class                             
                       2006        47    $14.40 to $16.43    756    0.35%    1.05% to 2.10%    20.65% to 21.49% 
                       2005        21    $11.87 to $13.55    272    -    1.25% to 1.95%    13.62% to 14.02% 
                       2004        5    $10.41 to $11.47    57    -    1.40% to 1.75%    15.54% 
                       2003        4    $9.01    40    -    1.40%    (c) 
                       2002        -    -    -    -    1.25% to 1.40%    -26.86% 

134

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING JPMorgan Emerging Markets Equity                             
                       Portfolio - Service Class                             
                       2006        308    $18.10 to $18.88    $ 5,655    0.50%    1.05% to 2.45%    32.77% to 34.13% 
                       2005        83    $13.64 to $14.08    1,148    -    1.25% to 2.25%    32.98% to 33.21% 
                       2004        32    $10.46 to $10.57    335    0.32%    1.25% to 1.40%    16.09% to 16.28% 
                       2003        33    $9.01 to $9.09    298    -    1.25% to 1.40%    44.62% to 44.75% 
                       2002        37    $6.23 to $6.28    233    -    1.25% to 1.40%    -12.01% to -11.80% 
                   ING JPMorgan Small Cap Core Equity                             
                       Portfolio - Service Class                             
                       2006        420    $13.09 to $15.41    5,978    -    1.05% to 2.45%    13.94% to 15.43% 
                       2005        203    $11.97 to $13.35    2,518    -    1.05% to 2.45%    1.69% to 2.61% 
                       2004        14    $11.83 to $13.01    177    -    1.05% to 1.95%    23.94% to 24.62% 
                       2003        2    $10.36 to $10.44    21    (b)    1.05% to 1.55%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 
                   ING JPMorgan Value Opportunities                             
                       Portfolio - Service Class                             
                       2006        133    $12.40 to $12.67    1,677    0.28%    1.05% to 2.45%    17.30% to 18.86% 
                       2005        167    $10.57 to $10.66    1,770    (e)    1.05% to 2.45%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING Julius Baer Foreign Portfolio - Service Class                             
                       2006        366    $15.11 to $18.22    6,379    -    1.05% to 2.45%    26.26% to 27.56% 
                       2005        152    $11.86 to $14.15    2,083    -    1.25% to 2.45%    13.15% to 13.93% 
                       2004        19    $11.94 to $12.42    232    (d)    1.25% to 1.95%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING Legg Mason Partners All Cap                             
                       Portfolio - Service Class                             
                       2006        171    $12.72 to $15.08    2,440    0.63%    1.05% to 2.25%    15.72% to 16.72% 
                       2005        122    $11.07 to $12.94    1,496    0.47%    1.05% to 1.95%    2.50% to 3.44% 
                       2004        16    $11.32 to $11.98    187    0.54%    1.40% to 1.75%    8.33% 
                       2003        17    $10.45 to $10.51    180    -    1.25% to 1.40%    29.49% to 29.59% 
                       2002        21    $8.07 to $8.11    169    0.79%    1.25% to 1.40%    -24.08% to -23.92% 

135

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                         
Notes to Financial Statements                         
 
 
 
                Investment         
    Units    Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)    (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Legg Mason Value Portfolio - Service Class                         
                       2006    550    $10.27 to $12.65    $ 6,449    -    1.05% to 2.25%    4.11% to 5.40% 
                       2005    274    $9.74 to $12.05    3,032    -    1.05% to 2.25%    3.91% to 4.84% 
                       2004    44    $9.36 to $11.53    419    0.35%    1.05% to 1.95%    11.69% to 12.65% 
                       2003    19    $8.38 to $8.62    159    -    1.05% to 1.90%    20.85% to 21.07% 
                       2002    12    $7.05 to $7.07    83    0.60%    1.25% to 1.40%    -20.88% to -20.47% 
                   ING LifeStyle Aggressive Growth                         
                       Portfolio - Service Class                         
                       2006    1,240    $13.33 to $14.20    17,434    0.13%    1.25% to 2.45%    15.42% to 16.67% 
                       2005    440    $11.90 to $12.20    5,317    0.04%    1.25% to 2.45%    5.67% to 6.18% 
                       2004    31    $11.47 to $11.49    354    (d)    1.45% to 1.95%    (d) 
                       2003    (d)    (d)    (d)    (d)    (d)    (d) 
                       2002    (d)    (d)    (d)    (d)    (d)    (d) 
                   ING LifeStyle Growth Portfolio - Service Class                         
                       2006    2,606    $13.22 to $13.49    34,973    0.47%    1.05% to 2.45%    12.79% to 14.02% 
                       2005    861    $11.67 to $11.85    10,165    0.18%    1.25% to 2.45%    4.72% to 5.24% 
                       2004    5    $11.24 to $11.26    51    (d)    1.45% to 2.00%    (d) 
                       2003    (d)    (d)    (d)    (d)    (d)    (d) 
                       2002    (d)    (d)    (d)    (d)    (d)    (d) 
                   ING LifeStyle Moderate Growth                         
                       Portfolio - Service Class                         
                       2006    2,950    $12.22 to $12.92    37,755    0.84%    1.05% to 2.45%    10.84% to 12.03% 
                       2005    1,110    $11.35 to $11.48    12,710    0.40%    1.25% to 2.45%    3.73% to 4.46% 
                       2004    71    $10.94 to $11.01    785    (d)    1.25% to 2.10%    (d) 
                       2003    (d)    (d)    (d)    (d)    (d)    (d) 
                       2002    (d)    (d)    (d)    (d)    (d)    (d) 
                   ING LifeStyle Moderate Portfolio - Service Class                         
                       2006    1,188    $11.83 to $12.47    14,586    1.07%    1.05% to 2.60%    8.87% to 10.02% 
                       2005    564    $11.05 to $11.28    6,309    0.44%    1.25% to 2.45%    3.44% to 3.81% 
                       2004    6    $10.74 to $10.77    67    (d)    1.45% to 2.10%    (d) 
                       2003    (d)    (d)    (d)    (d)    (d)    (d) 
                       2002    (d)    (d)    (d)    (d)    (d)    (d) 

136

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Limited Maturity Bond                             
                       Portfolio - Service Class                             
                       2006        36    $20.96 to $21.54    $ 754    3.25%    1.25% to 1.40%    2.39% to 2.57% 
                       2005        46    $20.47 to $21.00    941    5.07%    1.25% to 1.40%    0.20% to 0.33% 
                       2004        58    $20.43 to $20.93    1,191    4.80%    1.25% to 1.40%    -0.05% to 0.14% 
                       2003        68    $20.44 to $20.90    1,395    1.04%    1.25% to 1.40%    1.39% to 1.55% 
                       2002        64    $20.16 to $20.58    1,298    3.64%    1.25% to 1.40%    5.77% to 5.86% 
                   ING Liquid Assets Portfolio - Service Class                             
                       2006        591    $10.25 to $17.43    7,050    4.34%    1.05% to 2.25%    2.30% to 3.31% 
                       2005        352    $10.02 to $16.29    4,092    3.07%    1.25% to 2.25%    0.80% to 1.56% 
                       2004        87    $9.98 to $16.04    1,254    1.01%    1.25% to 1.95%    -0.65% to -0.37% 
                       2003        46    $15.38 to $16.57    720    0.91%    1.05% to 1.55%    -0.63% to -0.49% 
                       2002        92    $15.84 to $16.18    1,467    1.44%    1.25% to 1.40%    0.00% to 0.19% 
                   ING Lord Abbett Affiliated                             
                       Portfolio - Service Class                             
                       2006        34    $12.93 to $14.60    459    0.86%    1.25% to 1.85%    15.45% to 16.15% 
                       2005        17    $11.20 to $12.57    201    1.55%    1.25% to 1.85%    3.98% 
                       2004        87    $10.80 to $12.54    1,083    0.20%    1.05% to 1.95%    6.32% to 6.45% 
                       2003        83    $11.71 to $11.78    968    -    1.25% to 1.40%    36.96% to 37.14% 
                       2002        79    $8.55 to $8.59    677    0.21%    1.25% to 1.40%    -26.61% to -26.46% 
                   ING MarketPro Portfolio - Service Class                             
                       2006        25    $10.82 to $10.90    270    (f)    1.25% to 1.95%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Marsico Growth Portfolio - Service Class                             
                       2006        500    $12.29 to $17.24    7,184    -    1.25% to 2.45%    2.48% to 3.67% 
                       2005        397    $11.94 to $16.63    5,971    -    1.25% to 2.45%    6.75% to 7.58% 
                       2004        296    $11.19 to $15.47    4,504    -    1.25% to 1.95%    10.90% to 11.14% 
                       2003        323    $13.76 to $13.92    4,447    -    1.25% to 1.40%    30.80% to 31.07% 
                       2002        333    $10.52 to $10.62    3,502    -    1.25% to 1.40%    -30.52% to -30.50% 

137

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Marsico International Opportunities                             
                       Portfolio - Service Class                             
                       2006        226    $14.95 to $15.27    $ 3,417    0.03%    1.05% to 2.45%    21.31% to 22.65% 
                       2005        147    $12.34 to $12.45    1,817    (e)    1.05% to 2.25%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING MFS Total Return Portfolio - Service Class                             
                       2006        606    $11.79 to $28.36    10,544    2.33%    1.05% to 2.45%       9.37% to 10.74% 
                       2005        480    $10.78 to $25.61    8,270    2.10%    1.05% to 2.45%    0.93% to 1.83% 
                       2004        200    $10.73 to $25.15    4,707    1.95%    1.05% to 1.95%    8.99% to 9.97% 
                       2003        181    $21.14 to $22.87    4,012    0.48%    1.05% to 1.90%    15.13% to 15.31% 
                       2002        182    $19.23 to $19.47    3,506    2.15%    1.25% to 1.40%    -6.47% to -6.30% 
                   ING MFS Utilities Portfolio - Service Class                             
                       2006        238    $14.49 to $14.74    3,492    0.09%    1.25% to 2.25%    27.89% to 29.18% 
                       2005        87    $11.33 to $11.41    988    (e)    1.25% to 2.25%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING Oppenheimer Main Street                             
                       Portfolio® - Service Class                             
                       2006        273    $12.87 to $25.53    5,444    1.18%    1.05% to 2.25%    12.40% to 13.77% 
                       2005        141    $11.45 to $22.44    2,788    0.90%    1.05% to 2.25%    3.91% to 4.62% 
                       2004        114    $11.10 to $21.45    2,350    0.80%    1.05% to 1.75%    10.89% to 11.66% 
                       2003        130    $18.00 to $19.21    2,420    0.22%    1.05% to 1.75%    22.85% to 23.04% 
                       2002        143    $15.14 to $15.32    2,176    0.39%    1.25% to 1.40%    -25.93% to -25.85% 
                   ING PIMCO Core Bond Portfolio - Service Class                             
                       2006        537    $10.32 to $14.73    6,525    2.42%    1.05% to 2.45%    1.97% to 3.22% 
                       2005        356    $10.12 to $14.27    4,307    3.26%    1.05% to 2.45%    0.49% to 1.42% 
                       2004        110    $10.12 to $14.07    1,456    3.24%    1.05% to 2.10%    2.87% to 3.76% 
                       2003        63    $12.53 to $13.56    825    1.59%    1.05% to 1.90%    3.23% to 3.42% 
                       2002        63    $12.71 to $12.87    805    3.99%    1.25% to 1.40%    7.17% to 7.34% 

138

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING PIMCO High Yield Portfolio - Service Class                             
                       2006        370    $11.37 to $12.07    $ 4,331    6.23%    1.05% to 2.45%    6.45% to 7.77% 
                       2005        230    $10.69 to $11.20    2,518    6.85%    1.05% to 2.25%    2.29% to 3.23% 
                       2004        94    $10.49 to $10.85    1,016    (d)    1.05% to 1.95%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING Pioneer Fund Portfolio - Service Class                             
                       2006        10    $12.46 to $12.67    130    -    1.25% to 2.25%    14.44% to 15.29% 
                       2005        7    $10.94 to $10.99    77    (e)    1.25% to 1.95%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING Pioneer Mid Cap Value                             
                       Portfolio - Service Class                             
                       2006        318    $11.89 to $12.10    3,836    0.18%    1.25% to 2.45%    9.79% to 10.91% 
                       2005        135    $10.83 to $10.91    1,473    (e)    1.25% to 2.45%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING T. Rowe Price Capital Appreciation                             
                       Portfolio - Service Class                             
                       2006        764    $12.24 to $48.97    10,170    1.15%    1.05% to 2.45%    11.99% to 13.42% 
                       2005        191    $10.93 to $43.26    2,834    0.65%    1.05% to 2.45%    6.25% to 6.39% 
                       2004        22    $39.69 to $40.66    869    0.87%    1.25% to 1.40%    14.98% to 15.15% 
                       2003        28    $34.52 to $35.31    964    0.43%    1.25% to 1.40%    23.46% to 23.68% 
                       2002        32    $27.96 to $28.55    911    1.21%    1.25% to 1.40%    -0.92% to -0.76% 
                   ING T. Rowe Price Equity Income                             
                       Portfolio - Service Class                             
                       2006        503    $12.98 to $35.36    7,183    1.27%    1.05% to 2.45%    16.31% to 17.87% 
                       2005        330    $11.16 to $30.06    4,382    0.87%    1.05% to 2.45%    1.91% to 2.63% 
                       2004        58    $11.00 to $29.29    1,336    0.92%    1.25% to 2.00%    13.31% to 13.44% 
                       2003        42    $25.24 to $25.82    1,055    0.40%    1.25% to 1.40%    23.42% to 23.60% 
                       2002        46    $20.45 to $20.89    942    1.31%    1.25% to 1.40%    -14.44% to -14.28% 

139

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Templeton Global Growth                             
                       Portfolio - Service Class                             
                       2006        234    $13.61 to $27.01    $ 3,771    0.85%    1.25% to 2.45%    19.79% to 20.42% 
                       2005        54    $11.47 to $22.43    1,139    0.73%    1.25% to 1.75%    8.33% to 8.51% 
                       2004        51    $20.30 to $20.67    1,045    0.48%    1.25% to 1.40%    9.43% to 9.54% 
                       2003        56    $18.55 to $18.87    1,043    -    1.25% to 1.40%    34.42% to 34.59% 
                       2002        66    $13.80 to $14.02    910    0.11%    1.25% to 1.40%    -21.32% to -21.15% 
                   ING UBS U.S. Allocation Portfolio - Service Class                             
                       2006        54    $10.63 to $12.61    639    1.57%    1.25% to 2.10%    8.86% to 9.65% 
                       2005        52    $9.71 to $11.50    560    1.44%    1.25% to 1.95%    4.44% to 5.27% 
                       2004        28    $9.24 to $10.94    271    0.92%    1.25% to 1.95%    9.35% to 9.54% 
                       2003        20    $8.45 to $8.49    166    -    1.25% to 1.40%    16.39% to 16.46% 
                       2002        21    $7.26 to $7.29    150    1.14%    1.25% to 1.40%    -16.36% 
                   ING Van Kampen Equity Growth                             
                       Portfolio - Service Class                             
                       2006        32    $12.85 to $13.01    414    -    1.25% to 1.95%    2.07% to 2.76% 
                       2005        17    $12.59 to $12.66    217    (e)    1.25% to 1.95%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING Van Kampen Global Franchise                             
                       Portfolio - Service Class                             
                       2006        123    $12.18 to $12.77    1,567    1.36%    1.25% to 2.25%    18.60% to 19.79% 
                       2005        40    $10.59 to $10.66    429    (e)    1.25% to 2.25%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING Van Kampen Growth and Income                             
                       Portfolio - Service Class                             
                       2006        123    $11.36 to $32.68    2,443    1.16%    1.25% to 2.10%    13.56% to 14.55% 
                       2005        88    $11.06 to $28.53    2,026    0.91%    1.25% to 2.10%    8.52% to 8.69% 
                       2004        58    $25.81 to $26.25    1,502    0.82%    1.25% to 1.40%    12.51% to 12.71% 
                       2003        84    $22.94 to $23.29    1,924    0.23%    1.25% to 1.40%    26.11% to 26.23% 
                       2002        88    $18.19 to $18.45    1,606    0.78%    1.25% to 1.40%    -15.94% to -15.84% 

140

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Van Kampen Real Estate                             
                       Portfolio - Service Class                             
                       2006        242    $13.58 to $83.11    $ 4,966    1.09%    1.05% to 2.45%    34.52% to 36.19% 
                       2005        128    $13.50 to $61.15    2,090    1.16%    1.05% to 2.45%    14.51% to 15.33% 
                       2004        22    $11.84 to $53.02    670    1.65%    1.25% to 2.10%    35.82% to 36.05% 
                       2003        8    $38.11 to $38.97    302    0.82%    1.25% to 1.40%    35.82% to 36.02% 
                       2002        7    $28.06 to $28.65    185    3.64%    1.25% to 1.40%    -1.20% to -1.07% 
                   ING VP Index Plus International Equity                             
                       Portfolio - Service Class                             
                       2006        32    $12.66 to $12.77    412    (f)    1.05% to 1.85%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Wells Fargo Mid Cap Disciplined                             
                       Portfolio - Service Class                             
                       2006        141    $12.58 to $26.19    2,279    0.49%    1.25% to 2.45%    13.27% to 13.77% 
                       2005        47    $11.23 to $23.03    983    0.63%    1.25% to 1.65%    4.35% to 4.49% 
                       2004        43    $21.62 to $22.04    935    0.30%    1.25% to 1.40%    11.04% to 11.20% 
                       2003        54    $19.47 to $19.82    1,063    0.10%    1.25% to 1.40%    29.28% to 29.46% 
                       2002        59    $15.06 to $15.31    898    0.11%    1.25% to 1.40%    -30.28% to -30.12% 
                   ING Wells Fargo Small Cap Disciplined                             
                       Portfolio - Service Class                             
                       2006        30    $11.37 to $11.48    338    (f)    1.25% to 2.10%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Baron Small Cap Growth                             
                       Portfolio - Service Class                             
                       2006        321    $12.31 to $12.58    4,008    -    1.05% to 2.45%    12.63% to 14.05% 
                       2005        72    $10.93 to $11.03    793    (e)    1.05% to 2.45%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 

141

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Columbia Small Cap Value II                             
                       Portfolio - Service Class                             
                       2006        86    $10.00 to $10.06    $ 865    (f)    1.25% to 2.25%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Davis Venture Value Portfolio - Service Class                             
                       2006        220    $11.02 to $11.15    2,440    -    1.25% to 2.45%    - 
                       2005        1    $9.91    11    (e)    1.95%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING Fundamental Research Portfolio - Initial Class                             
                       2006        223    $10.48 to $10.49    2,341    (f)    1.25% to 1.40%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Fundamental Research                             
                       Portfolio - Service Class                             
                       2006        -    $12.12 to $12.17    5    0.03%    1.45% to 1.65%    10.28% 
                       2005        2    $10.98 to $10.99    26    (e)    1.65% to 1.85%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING JPMorgan International                             
                       Portfolio - Service Class                             
                       2006        145    $14.86 to $18.30    2,290    0.10%    1.05% to 2.45%    19.07% to 20.63% 
                       2005        65    $12.48 to $15.17    842    0.90%    1.05% to 2.45%    7.73% to 8.41% 
                       2004        3    $11.64 to $13.92    46    (d)    1.25% to 1.95%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 

142

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING JPMorgan Mid Cap Value                             
                       Portfolio - Service Class                             
                       2006        61    $13.48 to $17.45    $ 983    -    1.05% to 2.25%    13.95% to 15.26% 
                       2005        66    $11.83 to $15.14    920    0.29%    1.05% to 2.25%    6.36% to 7.38% 
                       2004        32    $11.17 to $14.10    436    -    1.05% to 1.95%    18.49% to 19.29% 
                       2003        5    $11.68 to $11.82    54    (b)    1.05% to 1.75%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 
                   ING Legg Mason Partners Aggressive Growth                             
                       Portfolio - Service Class                             
                       2006        85    $12.87 to $14.04    1,129    -    1.05% to 2.45%    7.52% to 8.84% 
                       2005        64    $11.97 to $12.90    777    -    1.05% to 2.45%    9.06% to 9.84% 
                       2004        8    $11.03 to $11.69    93    -    1.25% to 1.95%    7.77% to 7.77% 
                       2003        -    $10.81    5    (b)    1.55%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 
                   ING Neuberger Berman Partners                             
                       Portfolio - Service Class                             
                       2006        79    $10.24 to $10.33    817    (f)    1.05% to 2.45%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Neuberger Berman Regency                             
                       Portfolio - Service Class                             
                       2006        5    $10.08 to $10.09    47    (f)    1.25% to 1.45%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Oppenheimer Global Portfolio - Initial Class                             
                       2006        19    $13.83 to $14.05    265    0.06%    1.05% to 1.95%    15.64% to 16.79% 
                       2005        22    $11.96 to $12.03    268    (e)    1.05% to 1.95%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 

143

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Oppenheimer Global                             
                       Portfolio - Service Class                             
                       2006        534    $13.88 to $16.13    $ 8,193    0.08%    1.05% to 2.45%    14.97% to 16.38% 
                       2005        185    $11.97 to $13.86    2,432    1.35%    1.05% to 2.25%    11.06% to 12.05% 
                       2004        7    $11.66 to $12.37    80    -    1.05% to 1.95%    13.04% to 13.80% 
                       2003        3    $10.74 to $10.87    28    (b)    1.05% to 1.75%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 
                   ING Templeton Foreign Equity                             
                       Portfolio - Service Class                             
                       2006        42    $11.15 to $11.21    466    (f)    1.05% to 1.85%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING Thornburg Value Portfolio - Initial Class                             
                       2006        1    $9.76 to $12.95    12    0.70%    1.45% to 1.75%    14.82% to 15.11% 
                       2005        3    $8.50 to $11.25    24    -    1.45% to 1.75%    -0.23% 
                       2004        2    $8.52    17    (d)    1.75%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING UBS U.S. Large Cap Equity                             
                       Portfolio - Service Class                             
                       2006        43    $13.28 to $13.66    581    0.73%    1.05% to 2.10%    12.04% to 13.08% 
                       2005        32    $11.19 to $12.08    380    0.89%    1.05% to 2.00%    7.19% 
                       2004        6    $11.13    71    (d)    1.65%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING UBS U.S. Small Cap Growth                             
                       Portfolio - Service Class                             
                       2006        1    $9.67 to $9.69    7    (f)    1.45% to 1.75%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 

144

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                         
Notes to Financial Statements                         
 
 
 
                Investment         
    Units    Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)    (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING Van Kampen Comstock                         
                       Portfolio - Service Class                         
                       2006    278    $12.72 to $14.47    $ 3,696    0.74%    1.05% to 2.45%    13.35% to 14.66% 
                       2005    194    $10.59 to $12.62    2,273    0.39%    1.05% to 2.25%    1.44% to 2.35% 
                       2004    22    $11.13 to $12.33    264    -    1.05% to 1.95%    14.69% to 15.56% 
                       2003    11    $10.55 to $10.67    116    (b)    1.05% to 1.75%    (b) 
                       2002    (b)    (b)    (b)    (b)    (b)    (b) 
                   ING Van Kampen Equity and Income                         
                       Portfolio - Service Class                         
                       2006    45    $11.85 to $12.07    542    2.20%    1.25% to 2.45%    9.99% to 11.04% 
                       2005    35    $10.81 to $10.87    377    (e)    1.25% to 2.10%    (e) 
                       2004    (e)    (e)    (e)    (e)    (e)    (e) 
                       2003    (e)    (e)    (e)    (e)    (e)    (e) 
                       2002    (e)    (e)    (e)    (e)    (e)    (e) 
                   ING GET U.S. Core Portfolio - Series 1                         
                       2006    325    $10.77 to $11.10    3,542    2.43%    1.55% to 2.40%    5.18% to 6.02% 
                       2005    372    $10.24 to $10.47    3,840    2.39%    1.55% to 2.40%    -0.87% to 0.10% 
                       2004    446    $10.33 to $10.46    4,629    0.65%    1.55% to 2.40%    0.98% to 1.85% 
                       2003    510    $10.23 to $10.27    5,224    (b)    1.55% to 2.40%    (b) 
                       2002    (b)    (b)    (b)    (b)    (b)    (b) 
                   ING GET U.S. Core Portfolio - Series 2                         
                       2006    525    $10.40 to $10.70    5,520    2.70%    1.55% to 2.40%    4.10% to 5.00% 
                       2005    624    $9.99 to $10.19    6,281    2.83%    1.55% to 2.40%    -1.48% to -0.59% 
                       2004    790    $10.14 to $10.25    8,050    0.10%    1.55% to 2.40%    1.20% to 2.09% 
                       2003    1,045    $10.02 to $10.04    10,476    (b)    1.55% to 2.40%    (b) 
                       2002    (b)    (b)    (b)    (b)    (b)    (b) 
                   ING GET U.S. Core Portfolio - Series 3                         
                       2006    296    $10.10 to $10.37    3,015    2.55%    1.55% to 2.40%    3.80% to 4.75% 
                       2005    570    $9.73 to $9.90    5,583    1.91%    1.55% to 2.40%    -1.62% to -0.80% 
                       2004    670    $9.89 to $9.98    6,647    (d)    1.55% to 2.40%    (d) 
                       2003    (d)    (d)    (d)    (d)    (d)    (d) 
                       2002    (d)    (d)    (d)    (d)    (d)    (d) 

145

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING GET U.S. Core Portfolio - Series 4                             
                       2006        301    $10.76 to $11.02    $ 3,271    2.77%    1.55% to 2.40%    5.28% to 6.27% 
                       2005        427    $10.22 to $10.37    4,384    1.56%    1.55% to 2.40%    -1.06% to -0.29% 
                       2004        552    $10.33 to $10.40    5,714    (d)    1.55% to 2.40%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING GET U.S. Core Portfolio - Series 5                             
                       2006        339    $11.37 to $11.62    3,885    1.71%    1.55% to 2.40%    8.60% to 9.52% 
                       2005        477    $10.47 to $10.61    5,020    0.90%    1.55% to 2.40%    0.29% to 1.14% 
                       2004        641    $10.44 to $10.49    6,705    (d)    1.55% to 2.40%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING GET U.S. Core Portfolio - Series 6                             
                       2006        171    $10.82 to $11.09    1,862    1.94%    1.55% to 2.60%    7.66% to 8.83% 
                       2005        402    $10.05 to $10.19    4,064    0.34%    1.55% to 2.60%    0.00% to 1.09% 
                       2004        525    $10.05 to $10.08    5,285    (d)    1.55% to 2.60%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING GET U.S. Core Portfolio - Series 7                             
                       2006        332    $10.74 to $10.90    3,582    1.79%    1.75% to 2.45%    7.62% to 8.35% 
                       2005        656    $9.97 to $10.06    6,569    (e)    1.75% to 2.60%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING GET U.S. Core Portfolio - Series 8                             
                       2006        62    $10.84 to $11.02    680    0.69%    1.55% to 2.45%    7.97% to 9.00% 
                       2005        293    $10.04 to $10.11    2,946    (e)    1.55% to 2.45%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 

146

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING GET U.S. Core Portfolio - Series 9                             
                       2006        36    $10.67 to $10.82    $ 381    0.72%    1.55% to 2.45%    7.45% to 8.42% 
                       2005        157    $9.93 to $9.98    1,557    (e)    1.55% to 2.45%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING GET U.S. Core Portfolio - Series 10                             
                       2006        93    $10.67 to $10.79    997    0.48%    1.55% to 2.45%    7.13% to 8.12% 
                       2005        283    $9.95 to $9.98    2,822    (e)    1.55% to 2.45%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   ING GET U.S. Core Portfolio - Series 11                             
                       2006        507    $10.54 to $10.64    5,356    (f)    1.55% to 2.45%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING GET U.S. Core Portfolio - Series 12                             
                       2006        105    $11.15 to $11.23    1,171    (f)    1.55% to 2.45%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING GET U.S. Core Portfolio - Series 13                             
                       2006        950    $10.05 to $10.08    9,554    (f)    1.95% to 2.60%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 

147

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING VP Global Equity Dividend Portfolio                             
                       2006        33    $9.03 to $14.34    $ 376    4.10%    1.05% to 2.25%    24.40% to 25.97% 
                       2005        29    $7.22 to $11.43    268    3.25%    1.05% to 2.25%    2.56% to 3.05% 
                       2004        6    $7.04 to $7.21    40    -    1.25% to 1.75%    7.84% to 8.10% 
                       2003        3    $6.63 to $6.67    21    -    1.25% to 1.40%    27.26% 
                       2002        3    $5.21    14    0.01%    1.40%    -25.78% 
                   ING VP Index Plus LargeCap Portfolio - Class S                             
                       2006        329    $11.10 to $12.81    4,051    0.89%    1.05% to 2.45%    11.64% to 13.13% 
                       2005        305    $9.96 to $11.38    3,370    0.76%    1.05% to 2.45%    3.10% to 4.05% 
                       2004        58    $9.64 to $10.98    570    0.61%    1.05% to 1.95%    8.31% to 9.05% 
                       2003        10    $8.90 to $9.06    89    (b)    1.05% to 1.75%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 
                   ING VP Index Plus MidCap Portfolio - Class S                             
                       2006        433    $10.75 to $15.33    5,948    0.42%    1.05% to 2.45%    6.57% to 8.03% 
                       2005        306    $11.52 to $14.19    3,933    0.26%    1.05% to 2.45%    8.68% to 9.66% 
                       2004        60    $11.39 to $12.94    754    0.42%    1.05% to 2.10%    14.30% to 15.12% 
                       2003        17    $11.05 to $11.24    194    (b)    1.05% to 1.75%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 
                   ING VP Index Plus SmallCap Portfolio - Class S                             
                       2006        377    $10.99 to $16.73    5,395    0.25%    1.05% to 2.45%    10.84% to 12.28% 
                       2005        292    $12.27 to $14.90    3,809    0.17%    1.05% to 2.45%    5.29% to 6.28% 
                       2004        61    $11.70 to $14.02    817    -    1.05% to 2.10%    19.39% to 20.45% 
                       2003        15    $11.40 to $11.64    173    (b)    1.05% to 1.90%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 
                   ING VP Value Opportunity Portfolio - Class S                             
                       2006        14    $10.28 to $12.91    158    1.36%    1.25% to 1.95%    13.52% to 14.39% 
                       2005        15    $8.98 to $11.31    148    1.09%    1.25% to 1.95%    4.75% to 5.36% 
                       2004        4    $8.57 to $10.73    36    -    1.25% to 1.95%    7.89% 
                       2003        1    $7.98    5    (b)    1.75%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 

148

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ING VP Financial Services Portfolio - Class S                             
                       2006        80    $13.14 to $13.73    $ 1,067    1.09%    1.05% to 2.45%    14.46% to 15.96% 
                       2005        33    $11.48 to $11.84    387    0.93%    1.05% to 2.45%    5.78% to 6.47% 
                       2004        4    $10.95 to $11.12    44    (d)    1.05% to 1.75%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING VP MidCap Opportunities                             
                       Portfolio - Class S                             
                       2006        5    $8.66 to $8.74    45    -    1.25% to 1.40%    6.00% to 6.33% 
                       2005        5    $8.17 to $8.22    43    -    1.25% to 1.40%    8.64% to 8.73% 
                       2004        8    $7.52 to $7.56    59    (d)    1.25% to 1.40%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ING VP SmallCap Opportunities                             
                       Portfolio - Class S                             
                       2006        41    $8.13 to $13.31    534    -    1.25% to 1.95%    10.13% to 11.01% 
                       2005        22    $7.34 to $11.99    241    -    1.25% to 1.95%    7.31% 
                       2004        3    $6.84    22    -    1.40%    8.40% 
                       2003        4    $6.31 to $6.33    24    -    1.25% to 1.40%    36.58% to 36.72% 
                       2002        1    $4.62 to $4.63    7    -    1.25% to 1.40%    -44.54% to -44.48% 
                   ING VP Balanced Portfolio - Class S                             
                       2006        31    $10.42 to $10.51    323    (f)    1.05% to 2.25%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ING VP Intermediate Bond Portfolio - Class S                             
                       2006        374    $10.18 to $10.40    3,858    6.02%    1.05% to 2.45%    1.39% to 2.47% 
                       2005        109    $10.04 to $10.11    1,099    (e)    1.25% to 2.25%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 

149

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   Legg Mason Partners Variable Lifestyle Balanced                             
                       Portfolio                             
                       2006        159    $15.92 to $16.16    $ 2,545    2.52%    1.25% to 1.40%    6.70% to 6.88% 
                       2005        202    $14.92 to $15.12    3,021    2.09%    1.25% to 1.40%    1.08% to 1.20% 
                       2004        242    $14.76 to $14.94    3,579    0.13%    1.25% to 1.40%    6.11% to 6.26% 
                       2003        313    $13.91 to $14.06    4,364    2.53%    1.25% to 1.40%    18.58% to 18.85% 
                       2002        348    $11.73 to $11.83    4,095    6.58%    1.25% to 1.40%    -7.78% to -7.65% 
                   Legg Mason Partners Variable Lifestyle Growth                             
                       Portfolio                             
                       2006        67    $14.56 to $14.78    974    1.58%    1.25% to 1.40%    7.30% to 7.49% 
                       2005        102    $13.57 to $13.75    1,381    1.39%    1.25% to 1.40%    3.27% to 3.46% 
                       2004        125    $13.14 to $13.29    1,642    0.06%    1.25% to 1.40%    7.18% to 7.26% 
                       2003        140    $12.26 to $12.39    1,715    1.62%    1.25% to 1.40%    28.11% to 28.26% 
                       2002        157    $9.57 to $9.66    1,504    10.64%    1.25% to 1.40%    -19.24% to -19.10% 
                   Legg Mason Partners Variable Lifestyle High                             
                       Growth Portfolio                             
                       2006        29    $15.30 to $15.53    447    0.82%    1.25% to 1.40%    7.90% to 8.07% 
                       2005        48    $14.18 to $14.37    677    0.41%    1.25% to 1.40%    4.57% to 4.74% 
                       2004        57    $13.56 to $13.72    777    -    1.25% to 1.40%    9.09% to 9.24% 
                       2003        69    $12.43 to $12.56    854    0.64%    1.25% to 1.40%    34.96% to 35.20% 
                       2002        76    $9.21 to $9.29    704    1.08%    1.25% to 1.40%    -24.82% to -24.72% 
                   Legg Mason Partners Variable High Income Portfolio                         
                       2006        13    $17.10 to $17.40    217    7.65%    1.25% to 1.40%    9.40% to 9.57% 
                       2005        14    $15.63 to $15.88    215    7.80%    1.25% to 1.40%    1.23% to 1.34% 
                       2004        14    $15.44 to $15.67    221    6.64%    1.25% to 1.40%    8.89% to 9.05% 
                       2003        23    $14.18 to $14.37    321    7.26%    1.25% to 1.40%    25.71% to 25.94% 
                       2002        25    $11.28 to $11.41    284    24.46%    1.25% to 1.40%    -4.57% to -4.44% 
                   Legg Mason Partners Variable International                             
                       All Cap Growth Portfolio                             
                       2006        12    $17.61 to $17.93    219    2.02%    1.25% to 1.40%    24.10% to 24.34% 
                       2005        15    $14.19 to $14.42    209    1.41%    1.25% to 1.40%    10.17% to 10.33% 
                       2004        17    $12.88 to $13.07    216    0.89%    1.25% to 1.40%    16.14% to 16.38% 
                       2003        21    $11.09 to $11.23    235    0.89%    1.25% to 1.40%    25.74% to 25.90% 
                       2002        24    $8.82 to $8.92    214    0.85%    1.25% to 1.40%    -26.74% to -26.64% 

150

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   Legg Mason Partners Variable Large Cap Value Portfolio                         
                       2006        28    $23.68 to $24.10    $ 663    1.09%    1.25% to 1.40%    16.59% to 16.76% 
                       2005        39    $20.31 to $20.64    790    1.31%    1.25% to 1.40%    5.02% to 5.20% 
                       2004        54    $19.34 to $19.62    1,048    1.71%    1.25% to 1.40%    9.08% to 9.24% 
                       2003        66    $17.73 to $17.96    1,173    1.50%    1.25% to 1.40%    25.83% to 25.95% 
                       2002        87    $14.09 to $14.26    1,226    3.54%    1.25% to 1.40%    -26.46% to -26.30% 
                   Legg Mason Partners Variable Money Market Portfolio                         
                       2006        14    $12.94 to $13.18    188    4.73%    1.25% to 1.40%    3.19% to 3.37% 
                       2005        12    $12.54 to $12.75    145    2.60%    1.25% to 1.40%    1.37% to 1.51% 
                       2004        13    $12.37 to $12.56    163    0.87%    1.25% to 1.40%    -0.56% to -0.32% 
                       2003        24    $12.44 to $12.60    298    0.66%    1.25% to 1.40%    -0.72% to -0.63% 
                       2002        24    $12.53 to $12.68    304    1.33%    1.25% to 1.40%    -0.56% to 0.00% 
                   Colonial Small Cap Value Fund, Variable Series - Class B                         
                       2006        105    $13.17 to $13.46    1,397    0.41%    1.05% to 2.45%    16.65% to 17.84% 
                       2005        71    $11.29 to $11.38    810    (e)    1.25% to 2.45%    (e) 
                       2004        (e)    (e)    (e)    (e)    (e)    (e) 
                       2003        (e)    (e)    (e)    (e)    (e)    (e) 
                       2002        (e)    (e)    (e)    (e)    (e)    (e) 
                   Pioneer Small Cap Value VCT Portfolio - Class II                             
                       2006        19    $10.66 to $10.71    205    (f)    1.05% to 1.95%    (f) 
                       2005        (f)    (f)    (f)    (f)    (f)    (f) 
                       2004        (f)    (f)    (f)    (f)    (f)    (f) 
                       2003        (f)    (f)    (f)    (f)    (f)    (f) 
                       2002        (f)    (f)    (f)    (f)    (f)    (f) 
                   ProFund VP Bull                             
                       2006        9    $9.86 to $12.33    101    0.26%    1.25% to 2.25%    11.11% to 12.28% 
                       2005        9    $8.83 to $11.01    86    -    1.25% to 2.25%    0.91% to 1.46% 
                       2004        8    $8.70 to $8.91    70    -    1.25% to 1.90%    7.48% 
                       2003        3    $8.29    25    -    1.25%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 

151

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK                 
SEPARATE ACCOUNT NY-B                             
Notes to Financial Statements                             
 
 
 
                    Investment         
    Units        Unit Fair Value    Net Assets    Income    Expense RatioB    Total ReturnC 
                                                             Division    (000's)        (lowest to highest)    (000's)    RatioA    (lowest to highest)    (lowest to highest) 
                   ProFund VP Europe 30                             
                       2006        10    $11.30 to $13.98    $ 132    0.43%    1.05% to 1.95%    15.18% to 16.32% 
                       2005        8    $9.78 to $12.07    89    -    1.05% to 1.95%    6.01% to 6.98% 
                       2004        21    $9.21 to $11.32    235    -    1.05% to 1.95%    0.00% 
                       2003        1    $8.31    9    (b)    1.25%    (b) 
                       2002        (b)    (b)    (b)    (b)    (b)    (b) 
                   ProFund VP Rising Rates Opportunity                             
                       2006        56    $7.98 to $9.30    495    2.07%    1.05% to 2.45%    7.67% to 8.89% 
                       2005        36    $7.39 to $8.57    293    -    1.05% to 2.25%    -9.66% to -8.83% 
                       2004        16    $8.17 to $9.43    133    (d)    1.05% to 1.95%    (d) 
                       2003        (d)    (d)    (d)    (d)    (d)    (d) 
                       2002        (d)    (d)    (d)    (d)    (d)    (d) 
                   ProFund VP Small-Cap                             
                       2006        23    $13.03 to $13.67    309    -    1.05% to 1.95%    12.50% to 13.54% 
                       2005        16    $11.57 to $12.04    193    -    1.05% to 1.95%    0.87% to 1.69% 
                       2004        12    $11.47 to $11.84    138    -    1.05% to 1.90%    14.61% to 15.51% 
                       2003        7    $10.06 to $10.25    67    -    1.05% to 1.75%    40.78% to 40.94% 
                       2002        -    $7.21 to $7.23    1    (a)    1.40%    (a) 

(a)      As investment Division was not available until 2002, this data is not meaningful and is therefore not presented.
 
(b)      As investment Division was not available until 2003, this data is not meaningful and is therefore not presented.
 
(c)      As prior Contracts were replaced in 2003, this data is not meaningful and is therefore not presented.
 
(d)      As investment Division was not available until 2004, this data is not meaningful and is therefore not presented.
 
(e)      As investment Division was not available until 2005, this data is not meaningful and is therefore not presented.
 
(f)      As investment Division was not available until 2006, this data is not meaningful and is therefore not presented.
 
(g)      As investment Division had neither assets nor activities in 2003 and 2002, this data is not meaningful and is therefore not presented.
 
A      The Investment Income Ratio represents dividends received by the Division, excluding capital gains distributions, divided by the average net assets. The recognition of investment income is determined by the timing of the declaration of dividends by the underlying fund in which the Division invests.
 
B      The Expense Ratio considers only the expenses borne directly by the Account and is equal to the mortality and expense charge, as defined in Note 3. Certain items in this table are presented as a range of minimum and maximum values; however, such information is calculated independently for each column in the table.
 
C      Total Return is calculated as the change in unit value for each Contract presented in the Statements of Assets and Liabilities. Certain items in this table are presented as a range of minimum and maximum values; however, such information is calculated independently for each column in the table.
 

152

PART C -- OTHER INFORMATION

ITEM 24: FINANCIAL STATEMENTS AND EXHIBITS

(a)
FINANCIAL STATEMENTS:

(1)    Included in Part A: 
    Condensed Financial Information 
(2)    Included in Part B: 
    Statutory Basis Financial Statements of ReliaStar Life Insurance Company of New York: 
         -             Report of Independent Registered Public Accounting Firm 
         -             Balance Sheets - Statutory Basis as of December 31, 2006 and 2005 
         -             Statements of Operations - Statutory Basis for the years ended December 31, 2006, 2005 
             and 2004 
 
         -             Statements of Changes in Capital and Surplus - Statutory Basis for the years ended 
             December 31, 2006, 2005 and 2004 
         -             Statements of Cash Flows - Statutory Basis for the years ended December 31, 2006, 2005 
             and 2004 
         -             Notes to Financial Statements – Statutory Basis 
     Financial Statements of Separate Account NY-B: 
         -             Report of Independent Registered Public Accounting Firm 
         -             Statements of Assets and Liabilities as of December 31, 2006 
         -             Statements of Operations for the year ended December 31, 2006 
         -             Statements of Changes in Net Assets for the years ended December 31, 2006 and 2005 
         -             Notes to Financial Statements 

(b)
EXHIBITS:

(1)        Resolution of the board of directors of ReliaStar Life Insurance Company of New York 
        authorizing the establishment of the Registrant, incorporated herein by reference to the initial 
        filing of a registration statement on Form N-4 for ReliaStar Life Insurance Company of New 
        York Separate Account NY-B filed with the Securities and Exchange Commission on April 
        5, 2002 (File Nos. 333-85618, 811-07935). 
 
(2)        Custodial Agreement between Registrant and the Bank of New York, incorporated herein by 
        reference to the initial filing of a registration statement on Form N-4 for ReliaStar Life 
        Insurance Company of New York Separate Account NY-B filed with the Securities and 
        Exchange Commission on April 5, 2002 (File Nos. 333-85618, 811-07935). 
 
(3)    (a)    Distribution Agreement between the Depositor and Directed Services, Inc., incorporated 
        herein by reference to the initial filing of a registration statement on Form N-4 for ReliaStar 
        Life Insurance Company of New York Separate Account NY-B filed with the Securities and 
        Exchange Commission on April 5, 2002 (File Nos. 333-85618, 811-07935). 
 
    (b)    Dealers Agreement, incorporated herein by reference to the initial filing of a registration 
        statement on Form N-4 for ReliaStar Life Insurance Company of New York Separate 
        Account NY-B filed with the Securities and Exchange Commission on April 5, 2002 (File 
        Nos. 333-85618, 811-07935). 

(c)    Form of Rule 22c-2 Agreement, incorporated herein by reference to Post-Effective 
    Amendment No. 10 to a Registration Statement on Form N-4 for ReliaStar Life Insurance 
    Company of New York Separate Account NY-B filed with the Securities and Exchange 
    Commission on April 12, 2007 (File Nos. 333-115515, 811-07935). 

(4)    (a)    Flexible Premium Deferred Combination Variable and Fixed Annuity Contract (RLNY-IA- 
        1090), incorporated herein by reference to Pre-Effective Amendment No. 2 of a registration 
        statement on Form N-4 for ReliaStar Life Insurance Company of New York Separate Account 
        NY-B filed with the Securities and Exchange Commission on November 18, 2002 (File Nos. 
        333-85618, 811-07935). 
 
    (b)    Premium Credit Rider (RLNY-RA-1089), incorporated herein by reference to Pre-Effective 
        Amendment No. 2 of a registration statement on Form N-4 for ReliaStar Life Insurance 
        Company of New York Separate Account NY-B filed with the Securities and Exchange 
        Commission on November 18, 2002 (File Nos. 333-85618, 811-07935). 
 
    (c)    Premium Credit Disclosure (RLNY-DS-1093), incorporated herein by reference to Pre- 
        Effective Amendment No. 2 of a registration statement on Form N-4 for ReliaStar Life 
        Insurance Company of New York Separate Account NY-B filed with the Securities and 
Exchange Commission on November 18, 2002 (File Nos. 333-85618, 811-07935).
 
    (d)    403(b) Rider (RLNY-RA-1036), incorporated herein by reference to Post-Effective 
        Amendment No. 1 to a Registration Statement on Form N-4 for ReliaStar Life Insurance 
        Company of New York Separate Account NY-B filed with the Securities and Exchange 
        Commission on April 17, 2003 (File Nos. 333-85618, 811-07935). 
 
    (e)    Simple Individual Retirement Annuity Rider (Group) (RLNY-RA-1026)(12/02)(CA), 
        incorporated herein by reference to Post-Effective Amendment No. 1 to a Registration 
        Statement on Form N-4 for ReliaStar Life Insurance Company of New York Separate Account 
        NY-B filed with the Securities and Exchange Commission on April 17, 2003 (File Nos. 333- 
        85618, 811-07935). 
 
    (f)    Simple Individual Retirement Annuity Rider (RLNY-RA-1026)(12/02)(IA), incorporated 
        herein by reference to Post-Effective Amendment No. 1 to a Registration Statement on Form 
        N-4 for ReliaStar Life Insurance Company of New York Separate Account NY-B filed with 
        the Securities and Exchange Commission on April 17, 2003 (File Nos. 333-85618, 811- 
        07935). 
 
    (g)    Roth Individual Retirement Annuity Rider (Group) (RLNY-RA-1038)(12/02)(CA), 
        incorporated herein by reference to Post-Effective Amendment No. 1 to a Registration 
        Statement on Form N-4 for ReliaStar Life Insurance Company of New York Separate 
        Account NY-B filed with the Securities and Exchange Commission on April 17, 2003 (File 
        Nos. 333-85618, 811-07935). 
 
    (h)    Roth Individual Retirement Annuity Rider (RLNY-RA-1038)(12/02)(IA), incorporated 
        herein by reference to Post-Effective Amendment No. 1 to a Registration Statement on Form 
        N-4 for ReliaStar Life Insurance Company of New York Separate Account NY-B filed with 
        the Securities and Exchange Commission on April 17, 2003 (File Nos. 333-85618, 811- 
        07935). 

(i)    Individual Retirement Annuity Rider (Group) (RLNY-RA-1009)(12/02)(CA), incorporated 
    herein by reference to Post-Effective Amendment No. 1 to a Registration Statement on Form 
    N-4 for ReliaStar Life Insurance Company of New York Separate Account NY-B filed with 
    the Securities and Exchange Commission on April 17, 2003 (File Nos. 333-85618, 811- 
    07935). 
 
(j)    Section 72 Rider (Group) (FG-RA-1002-08/97), incorporated herein by reference to the 
    initial filing of a registration statement on Form N-4 for ReliaStar Life Insurance Company of 
    New York Separate Account NY-B filed with the Securities and Exchange Commission on 
    April 1, 2002 (File Nos. 333-85326, 811-07935). 
 
(k)    Section 72 Rider (Individual) (FG-RA-1001-08/95), incorporated herein by reference to the 
    initial filing of a registration statement on Form N-4 for ReliaStar Life Insurance Company of 
    New York Separate Account NY-B filed with the Securities and Exchange Commission on 
    April 1, 2002 (File Nos. 333-85326, 811-07935). 
 
(l)    Individual Retirement Annuity Rider (RLNY-RA-1009)(12/02)(IA), incorporated herein by 
    reference to Post-Effective Amendment No. 1 to a Registration Statement on Form N-4 for 
    ReliaStar Life Insurance Company of New York Separate Account NY-B filed with the 
    Securities and Exchange Commission on April 17, 2003 (File Nos. 333-85618, 811-07935). 
 
(m)    Minimum Guaranteed Accumulation Benefit Rider (RLNY-RA-2024), incorporated herein by 
    reference to Pre-Effective Amendment No. 1 to a Registration Statement on Form N-4 for 
    ReliaStar Life Insurance Company of New York Separate Account NY-B filed with the 
    Securities and Exchange Commission on September 20, 2004 (File Nos. 333-115515, 811- 
    07935). 
 
(n)    Minimum Guaranteed Income Benefit Rider (RLNY-RA-2025) (10/06), incorporated herein 
    by reference to Post-Effective Amendment No. 19 to a Registration Statement on Form N-4 
    for ReliaStar Life Insurance Company of New York Separate Account NY-B filed with the 
    Securities and Exchange Commission on June 4, 2007 (File Nos. 333-85618, 811-07935). 
 
(o)    Minimum Guaranteed Withdrawal Benefit Rider with Reset Option (RLNY-RA-2026), 
    incorporated herein by reference to Pre-Effective Amendment No. 1 to a Registration 
    Statement on Form N-4 for ReliaStar Life Insurance Company of New York Separate Account 
    NY-B filed with the Securities and Exchange Commission on September 20, 2004 (File Nos. 
    333-115515, 811-07935). 
 
(p)    Minimum Guaranteed Withdrawal Benefit Rider with Reset Option (RLNY-RA-3023), 
    incorporated herein by reference to Post-Effective Amendment No. 19 to a Registration 
    Statement on Form N-4 for ReliaStar Life Insurance Company of New York Separate 
    Account NY-B filed with the Securities and Exchange Commission on June 4, 2007 (File 
    Nos. 333-85618, 811-07935). 
 
(q)    Minimum Guaranteed Withdrawal Benefit Rider with Reset Option (RLNY-RA-3029), 
    incorporated herein by reference to Post-Effective Amendment No. 19 to a Registration 
    Statement on Form N-4 for ReliaStar Life Insurance Company of New York Separate 
    Account NY-B filed with the Securities and Exchange Commission on June 4, 2007 (File 
    Nos. 333-85618, 811-07935). 
 
(r)    Minimum Guaranteed Withdrawal Benefit Rider with Automatic Reset (ING LifePay Plus), 
    attached. 

(s)    Minimum Guaranteed Withdrawal Benefit Rider with Automatic Reset (ING Joint LifePay 
    Plus), attached. 

(5)    (a)    New York Variable Annuity Application (RLNY-AA-2031) (08/07) (140326), incorporated 
        herein by reference to Post-Effective Amendment No. 23 to a Registration Statement on 
        Form N-4 for ReliaStar Life Insurance Company of New York Separate Account NY-B filed 
        with the Securities and Exchange Commission on August 28, 2007 (File Nos. 333-85618, 
        811-07935). 
 
(6)    (a)    Articles of Incorporation of ReliaStar Life Insurance Company of New York, incorporated 
        herein by reference to the initial filing of a registration statement on Form S-6 filed with the 
        Securities and Exchange Commission on March 6, 1998 (File Nos. 333-47527, 811-03427). 
 
    (b)    By-Laws of ReliaStar Life Insurance Company of New York, incorporated herein by 
        reference to the initial filing of a registration statement on Form S-6 with the Securities and 
Exchange Commission on March 6, 1998 (File Nos. 333-47527, 811-03427).
 
    (c)    Resolution of board of directors for Powers of Attorney, incorporated herein by reference to 
        the initial filing of a registration statement on Form N-4 for ReliaStar Life Insurance 
        Company of New York Separate Account NY-B filed with the Securities and Exchange 
        Commission on April 5, 2002 (File Nos. 333-85618, 811-07935). 

(7)        Not applicable. 
 
(8)    (a)    Services Agreement effective November 8, 1996 between Directed Services, Inc. and First 
        Golden American Life Insurance Company of New York, incorporated herein by reference to 
        the initial filing of a registration statement on Form N-4 for ReliaStar Life Insurance 
        Company of New York Separate Account NY-B filed with the Securities and Exchange 
        Commission on April 5, 2002 (File Nos. 333-85618, 811-07935). 
 
    (b)    Administrative Services Agreement effective November 8, 1996 between First Golden 
        American Life Insurance Company of New York and Golden American Life Insurance 
        Company, incorporated herein by reference to the initial filing of a registration statement on 
        Form N-4 for ReliaStar Life Insurance Company of New York Separate Account NY-B filed 
        with the Securities and Exchange Commission on April 5, 2002 (File Nos. 333-85618, 811- 
        07935). 
 
    (c)    Asset Management Agreement effective March 30, 1998 between ReliaStar Life Insurance 
        Company of New York and ING Investment Management LLC, incorporated herein by 
        reference to the initial filing of a registration statement on Form N-4 for ReliaStar Life 
        Insurance Company of New York Separate Account NY-B filed with the Securities and 
        Exchange Commission on April 5, 2002 (File Nos. 333-85618, 811-07935). 
 
    (d)    Participation Agreement entered into as of the 2nd day of September, 2003, as amended and 
        restated on May 17, 2004 by and among ING USA Annuity and Life Insurance Company, 
        ReliaStar Life Insurance Company of New York, ING Investors Trust, ING Investments, 
        LLC, Directed Services, Inc., American Funds Insurance Series and Capital Research and 
        Management Company, incorporated herein by reference to Post-Effective Amendment No. 8 
        to Registration Statement on Form N-4 for ING USA Annuity and Life Insurance Company 
        Separate Account B filed with Securities and Exchange Commission on August 1, 2005 (File 
        Nos. 333-70600, 811-05626). 

    (e)    Participation Agreement enter into as of 28th day of April, 2000 between ReliaStar Life 
        Insurance Company of New York, ING Variable Insurance Trust, ING Mutual Funds 
        Management Co. LLC and ING Funds Distributor, Inc. incorporated herein by reference to 
        the initial filing of a registration statement on Form N-4 for ReliaStar Life Insurance 
        Company of New York Separate Account NY-B filed with the Securities and Exchange 
        Commission on April 5, 2002 (File Nos. 333-85618, 811-07935). 
 
    (f)    Form of Participation Agreement between ReliaStar Life Insurance Company of New York 
        and ING Variable Products Trust, incorporated herein by reference to the initial filing of a 
        registration statement on Form N-4 for ReliaStar Life Insurance Company of New York 
        Separate Account NY-B filed with the Securities and Exchange Commission on April 5, 
        2002 (File Nos. 333-85618, 811-07935). 
 
    (g)    Form of Participation Agreement between ReliaStar Life Insurance Company of New York, 
        ProFunds and ProFund Advisors LLC incorporated herein by reference to the initial filing of 
        a registration statement on Form N-4 for ReliaStar Life Insurance Company of New York 
        Separate Account NY-B filed with the Securities and Exchange Commission on April 5, 
        2002 (File Nos. 333-85618, 811-07935). 
 
    (h)    Amended and Restated Participation Agreement as of December 30, 2005 by and among 
        Franklin Templeton Variable Insurance Products Trust/Templeton Distributors, Inc., ING 
        Life Insurance and Annuity Company, ING USA Annuity and Life Insurance Company, 
        ReliaStar Life Insurance Company, ReliaStar Life Insurance Company of New York and 
        Directed Services, Inc., incorporated herein by reference to Post-Effective Amendment No. 
        17 filing of a registration statement on Form N-4 for ReliaStar Life Insurance Company of 
        New York Separate Account NY-B filed with the Securities and Exchange Commission on 
        February 1, 2007 (File Nos. 333-85618, 811-07935). 
 
    (i)    Amendment to Participation Agreement as of June 5, 2007 by and between Franklin 
        Templeton Variable Insurance Products Trust, Franklin/Templeton Distributors, Inc., ING 
        Life Insurance and Annuity Company, ING USA Annuity and Life Insurance Company, 
        ReliaStar Life Insurance Company, ReliaStar Life Insurance Company of New York, and 
        Directed Services, LLC, incorporated herein by reference to Pre-Effective Amendment No. 1 
        to a Registration Statement on Form N-4 for ReliaStar Life Insurance Company of New York 
        Separate Account NY-B filed with the Securities and Exchange Commission on July 6, 2007 
        (File Nos. 333-139695, 811-07935). 
 
    (j)    Letter Agreement dated May 16, 2007 between ReliaStar Life Insurance Company of New 
        York, Fidelity Distributors Corporation, Variable Insurance Products Fund, Variable 
        Insurance Products Fund II and Variable Insurance Products Fund V, incorporated herein by 
        reference to Pre-Effective Amendment No. 2 to the Registration Statement on Form N-4 (File 
        No. 333-139695), as filed on September 5, 2007. 
 
    (k)    Rule 22c-2 Agreement dated no later than April 16, 2007 and is effective as of October 16, 
        2007 between Fidelity Distributors Corporation, ING Life Insurance and Annuity Company, 
        ING National Trust, ING USA Annuity and Life Insurance Company, ReliaStar Life 
        Insurance Company, ReliaStar Life Insurance Company of New York, Security Life of 
        Denver Insurance Company and Systematized Benefits Administrators Inc., incorporated 
        herein by reference to Post-Effective Amendment No. 50 to Registration Statement on Form 
        N-4 (File No. 033-75962), as filed on June 15, 2007. 
 
(9)        Opinion and Consent of Counsel, attached. 
 
(10)        Consent of Independent Registered Public Accounting Firm, attached. 

(11)    Not applicable. 
 
(12)    Not applicable. 
 
(13)    Powers of Attorney, incorporated herein by reference to Post-Effective Amendment No. 18 
    filing of a registration statement on Form N-4 for ReliaStar Life Insurance Company of New 
    York Separate Account NY-B filed with the Securities and Exchange Commission on April 
    13, 2007 (File Nos. 333-85618, 811-07935). 

ITEM 25: DIRECTORS AND OFFICERS OF THE DEPOSITOR

Name    Principal Business Address    Positions and Offices with Depositor 
 
Donald W. Britton*    5780 Powers Ferry Road    President, Chief Executive Officer, 
    Atlanta, GA 30327-4390    Chairman and Director 
 
David A. Wheat*    5780 Powers Ferry Road    Executive Vice President, Chief Financial 
    Atlanta, GA 30327-4390    Officer and Director 
 
William D. Bonneville    1000 Woodbury Road,    Executive Vice President and Chief 
    Suite 208    Administrative Officer 
    Woodbury, NY 11797     
 
James R. Gelder*    20 Washington Avenue South    Director 
    Minneapolis, MN 55401     
 
Catherine H. Smith*    One Orange Way    Director 
    Windsor, CT 06095-4774     
 
R. Michael Conley*    2910 Holly Lane    Director 
    Plymouth, MN 55447     
 
Carol V. Coleman*    1000 Woodbury Road    Director 
    Suite 208     
    Woodbury, NY 11797     
 
James F. Lille*    46 Hearthstone Drive    Director 
    Gansevoort, NY 12831     
 
Charles B. Updike*    60 East 42nd Street    Director 
    New York, NY 10165     
 
Ross M. Weale*    56 Cove Rd.    Director 
    South Salem, NY 10590     
 
Robert P. Browne*    5780 Powers Ferry Road    Director and Vice President, Investments 
    Atlanta, GA 30327-4390     
 
Howard L. Rosen*    1475 Dunwoody Drive    Director, Vice President and Appointed 
    West Chester, PA 19380-1478    Actuary 
 
Brian D. Comer*    One Orange Way    Senior Vice President and Director 
    Windsor, CT 06095-4774     

Name    Principal Business Address    Positions and Offices with Depositor 
 
Curtis W. Olson*    20 Washington Avenue South    Senior Vice President and Director 
    Minneapolis, MN 55401     
 
Steven T. Pierson*    5780 Powers Ferry Road    Senior Vice President and Chief Accounting 
    Atlanta, GA 30327-4390    Officer 
 
Stephen J. Preston    1475 Dunwoody Drive    Senior Vice President 
    West Chester, PA 19380-1478     
 
Boyd G. Combs    5780 Powers Ferry Road    Senior Vice President, Tax 
    Atlanta, GA 30327-4390     
 
David S. Pendergrass    5780 Powers Ferry Road    Senior Vice President and Treasurer 
    Atlanta, GA 30327-4390     
 
Harry N. Stout    1475 Dunwoody Drive    Senior Vice President 
    West Chester, PA 19380-1478     
 
Daniel P. Mulheran, Sr.    20 Washington Avenue South    Senior Vice President 
    Minneapolis, MN 55401     
 
Valerie G. Brown    5780 Powers Ferry Road    Senior Vice President 
    Atlanta, GA 3027-4390     
 
Michael L. Emerson    20 Washington Avenue South    CEO, ING Re 
    Minneapolis, MN 55401     
 
John F. Todd    One Orange Way    General Counsel 
    Windsor, CT 06095-4774     
 
Joy M. Benner    20 Washington Avenue South    Secretary 
    Minneapolis, MN 55401     

*Principal delegated legal authority to execute this registration statement pursuant to Power of Attorney.

ITEM 26:    PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE 
    DEPOSITOR OR REGISTRANT 

Incorporated herein by reference to Item 26 in Post Effective Amendment No. 6 to Registration Statement on
Form N-4 for ING USA Annuity and Life Insurance Company Separate Account EQ as filed with the
Securities and Exchange Commission on November 13, 2007 (File Nos. 333-111686, 811-08524).

ITEM 27: NUMBER OF CONTRACT OWNERS

As of November 30, 2007 there are 2,544 qualified contract owners and 1,628 non-qualified contract owners.

ITEM 28: INDEMNIFICATION

ReliaStar Life Insurance Company of New York (“RLNY”) shall indemnify (including therein the
prepayment of expenses) any person who is or was a director, officer or employee, or who is or was serving at
the request of RLNY as a director, officer or employee of another corporation, partnership, joint venture, trust
or other enterprise for expenses (including attorney’s fees), judgments, fines and amounts paid in settlement

actually and reasonably incurred by him with respect to any threatened, pending or completed action, suit or
proceedings against him by reason of the fact that he is or was such a director, officer or employee to the
extent and in the manner permitted by law.

RLNY may also, to the extent permitted by law, indemnify any other person who is or was serving RLNY in
any capacity. The Board of Directors shall have the power and authority to determine who may be
indemnified under this paragraph and to what extent (not to exceed the extent provided in the above
paragraph) any such person may be indemnified.

A corporation may procure indemnification insurance on behalf of an individual who is or was a director of
the corporation. ING America Insurance Holdings, Inc. maintains a Professional Liability umbrella insurance
policy issued by an international insurer. The policy covers ING America Insurance Holdings, Inc. and any
company in which ING America Insurance Holdings, Inc. has a controlling interest of 50% or more. This
would encompass the principal underwriter as well as the depositor. Additionally, the parent company of ING
America Insurance Holdings, Inc., ING Groep N.V., maintains an excess umbrella cover with limits in excess
of $125,000,000. The policy provides for the following types of coverage: errors and omissions/professional
liability, directors and officers, employment practices, fiduciary and fidelity.

Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended, may be
permitted to directors, officers and controlling persons of the Registrant, as provided above or otherwise, the
Registrant has been advised that in the opinion of the SEC such indemnification by the Depositor is against
public policy, as expressed in the Securities Act of 1933, and therefore may be unenforceable. In the event
that a claim of such indemnification (except insofar as it provides for the payment by the Depositor of
expenses incurred or paid by a director, officer or controlling person in the successful defense of any action,
suit or proceeding) is asserted against the Depositor by such director, officer or controlling person and the
SEC is still of the same opinion, the Depositor or Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of
whether such indemnification by the Depositor is against public policy as expressed by the Securities Act of
1933 and will be governed by the final adjudication of such issue.

ITEM 29: PRINCIPAL UNDERWRITER

(a) At present, Directed Services LLC, the Registrant’s Distributor, serves as principal underwriter for all
contracts issued by ING USA Annuity and Life Insurance Company (“ING USA”). Directed Services LLC is
the principal underwriter for Separate Account A, Separate Account B, Separate Account EQ of ING USA,
ReliaStar Life Insurance Company of New York Separate Account NY-B, Alger Separate Account A of ING
USA and the ING Investors Trust.

(b)    The following information is furnished with respect to the principal officers and directors of Directed 
Services LLC, the Registrant’s Distributor.     
 
 Name    Principal Business Address    Positions and Offices with 
            Underwriter 
 A. Bayard Closser    7337 E. Doubletree Ranch Road    Director and President 
        Scottsdale, AZ 85258     
 
 Robert J. Hughes    1475 Dunwoody Drive    Director 
        West Chester, PA 19380-1478     
 
 Shaun P. Mathews    10 State House Square    Director and Executive Vice President 
        Hartford, CT 06103     
 
 Richard E. Gelfand    1475 Dunwoody Drive    Chief Financial Officer 
        West Chester, PA 19380-1478     

Name    Principal Business Address    Positions and Offices with 
        Underwriter 
 
Kimberly A. Anderson    7337 E Doubletree Ranch Road,    Senior Vice President 
    Scottsdale, AZ 85258     
 
Michael J. Roland    7337 E Doubletree Ranch Road,    Senior Vice President and Assistant 
    Scottsdale, AZ 85258    Secretary 
 
Laurie M. Tillinghast    10 State House Square    Senior Vice President 
    Hartford, CT 06103     
 
Stanley D. Vyner    230 Park Avenue, 13th Floor    Senior Vice President 
    New York, NY 10169     
 
Beth G. Shanker    1290 Broadway    Broker Dealer Chief Compliance 
    Denver, CO. 80203    Officer 
 
Joseph M. O’Donnell    7337 E Doubletree Ranch Road    Investment Advisor Chief Compliance 
    Scottsdale, AZ 85258    Officer and Senior Vice President 
 
Julius A. Drelick, III    7337 E Doubletree Ranch Road    Vice President 
    Scottsdale, AZ 85258     
 
William A. Evans    One Orange Way    Vice President 
    Windsor, CT 06095-4774     
 
Todd R. Modic    7337 E Doubletree Ranch Road    Vice President 
    Scottsdale, AZ 85258     
 
David S. Pendergrass    7337 E Doubletree Ranch Road    Vice President and Treasurer 
    Scottsdale, AZ 85258     
 
Dawn M. Peck    7337 E Doubletree Ranch Road    Vice President, Assistant Treasurer and 
    Scottsdale, AZ 85258    Assistant Secretary 
 
Joy M. Benner    20 Washington Avenue South    Secretary 
    Minneapolis, MN 55401     
 
Diana R. Cavender    20 Washington Avenue South    Assistant Secretary 
    Minneapolis, MN 55401     
 
Randall K. Price    20 Washington Avenue South    Assistant Secretary 
    Minneapolis, MN 55401     
 
Edwina P.J. Steffer    20 Washington Avenue South    Assistant Secretary 
    Minneapolis, MN 55401     
 
Susan M. Vega    20 Washington Avenue South    Assistant Secretary 
    Minneapolis, MN 55401     
 
G. Stephen Wastek    7337 E Doubletree Ranch Road    Assistant Secretary 
    Scottsdale, AZ 85258     

 Name    Principal Business Address    Positions and Offices with 
            Underwriter     
 Bruce Kuennen            Attorney-in-Fact     
 
(c)                 
    2006 Net             
    Underwriting             
Name of Principal    Discounts and    Compensation    Brokerage     
Underwriter    Commission    on Redemption    Commissions    Compensation 
   Directed Services LLC    $429,206,095    $0    $0    $0 
 
ITEM 30: LOCATION OF ACCOUNTS AND RECORDS         

All accounts, books and other documents required to be maintained by Section 31(a) of the 1940 Act and the
rules under it relating to the securities described in and issued under this Registration Statement are
maintained by the Depositor and located at: ReliaStar Life Insurance Company of New York at 1000
Woodbury Road, Suite 208, Woodbury, NY 11797 and 1475 Dunwoody Drive, West Chester, PA 19380.

ITEM 31: MANAGEMENT SERVICES

None.

ITEM 32: UNDERTAKINGS

(a) Registrant hereby undertakes to file a post-effective amendment to this registration statement as
frequently as it is necessary to ensure that the audited financial statements in the registration statement are
never more that 16 months old so long as payments under the variable annuity contracts may be accepted.

(b) Registrant hereby undertakes to include either (1) as part of any application to purchase a contract
offered by the prospectus, a space that an applicant can check to request a Statement of Additional
Information, or (2) a post card or similar written communication affixed to or included in the prospectus that
the applicant can remove to send for a Statement of Additional Information; and,

(c) Registrant hereby undertakes to deliver any Statement of Additional Information and any financial
statements required to be made available under this Form promptly upon written or oral request.

(d) Registrant hereby undertakes to mail notices to current contract owners promptly after the happening
of significant events related to the guarantee issued by ReliaStar Life Insurance Company of New York with
respect to allocation of contract value to a series of the ING GET U.S. Core Portfolio (the “Guarantee”).
These significant events include (i) the termination of the Guarantee; (ii) a default under the Guarantee that
has a material adverse effect on a contract owner’s right to receive his or her guaranteed amount on the
maturity date; (iii) the insolvency of ReliaStar Life Insurance Company of New York; or (iv) a reduction in
the credit rating of ReliaStar Life Insurance Company of New York’s long-term debt as issued by Standard
& Poor’s or Moody’s Investors Service, Inc. to BBB+ or lower or Baa1 or lower, respectively.

During the Guarantee Period, the Registrant hereby undertakes to include in the Registrant’s prospectus, an
offer to supply the most recent annual and/or quarterly report of each of ReliaStar Life Insurance Company
of New York, or their successors to the Guarantee, free of charge, upon a contract owner’s request.

REPRESENTATIONS

1.    The account meets definition of a “separate account” under federal securities laws. 
 
2.    ReliaStar Life Insurance Company of New York hereby represents that the fees and charges deducted 
    under the Contract, in the aggregate, are reasonable in relation to the services rendered, the expenses 
    expected to be incurred, and the risks assumed by ReliaStar Life Insurance Company of New York. 

SIGNATURES

  As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies
that it meets the requirement of Securities Act Rule 485(b) for effectiveness of this Post-Effective
Amendment to its Registration Statement on Form N-4 and has caused this Post-Effect Amendment to be
signed on its behalf in the City of West Chester and Commonwealth of Pennsylvania, on the 12th day of
December, 2007.

SEPARATE ACCOUNT NY-B 
(Registrant) 

By:    RELIASTAR LIFE INSURANCE COMPANY 
    OF NEW YORK 
    (Depositor) 

By:    /s/ John S. Kreighbaum 
    John S. (Scott) Kreighbaum as 
    Attorney-in-Fact 

  As required by the Securities Act of 1933, this Post-Effective Amendment to the Registration Statement has
been signed by the following persons in the capacities indicated on December 12, 2007.

Signature    Title 
 
    President, Chief Executive Officer, Chairman and 
Donald W. Britton*    Director 
    (principal executive officer) 
 
 
    Chief Accounting Officer 
Steven T. Pierson*     

By:     
Donald W. Britton*
    President 
    (principal executive officer) 

DIRECTORS OF THE DEPOSITOR     
Signature    Title 
    Chief Financial Officer 
David A. Wheat*    (principal accounting officer) 
James R. Gelder*     
Donald W. Britton*     
Catherine H. Smith*     
R. Michael Conley*     
Carol V. Coleman*     
James F. Lille*     
Charles B. Updike*     
Ross M. Weale*     
Brian D. Comer*     
Curtis W. Olson*     
Robert P. Browne*     

  ____________________
Howard L. Rosen*

By:    /s/ John S. Kreighbaum 
    John S. (Scott) Kreighbaum as 
    Attorney-in-Fact 

*Executed by John S. (Scott) Kreighbaum on behalf of those indicated pursuant to Powers of Attorney.

Signature    Title 

EXHIBIT INDEX
ITEM    EXHIBIT    PAGE # 
(4)(r)    Minimum Guaranteed Withdrawal Benefit Rider with Automatic Reset    EX-99.B4R 
    (ING LifePay Plus)     
(4)(s)    Minimum Guaranteed Withdrawal Benefit Rider with Automatic Reset    EX-99.B4S 
    (ING Joint LifePay Plus)     
(9)    Opinion and Consent of Counsel    EX-99.B9 
(10)    Consent of Independent Registered Public Accounting Firm    EX-99.B10