Business Services Industry

Prudential Real Estate Network Further Expands Its Presence in Florida

Business Wire, July 23, 1999

MIAMI--(BUSINESS WIRE)--July, 23, 1999--

The Dade County-based All-star Investment Realty Inc. Will

Now Operate Under the Prudential Real Estate Brand

The Prudential Real Estate Affiliates Inc. (PREA) today announced that All-Star Investment Realty Inc., formerly a leading Century 21 franchisee, has joined its Network of real estate affiliates. Effective today, the company has changed its name to Prudential All-Star Real Estate.

Lawrence Salas and Enrique Piwko, broker/owners of the company, said they joined the Prudential Real Estate Network because they wanted to associate their company with a nationally recognized brand name that is both trusted and respected among consumers. The Prudential brand has 96 percent consumer recognition and one in every five consumers has done business with a Prudential company.

"We believe the Prudential Real Estate brand represents the highest level of quality service to real estate consumers," Piwko commented. "By affiliating with the Prudential Real Estate Network, our company plans to grow by tapping into the upper-end market while at the same time attracting top agents in the local marketplace."

Founded in 1987, Prudential All-Star Real Estate caters to the diverse markets in the Westchester, Kendall, Miami Lakes and areas of Miami/Dade County. Approximately 95 percent of the company's 80 sales associates speak more than one language, which enables Prudential All-Star Real Estate to provide extensive customized service to Miami's diverse population, including a very high percentage who belong to the Hispanic community, as well as international clients moving into and out of the area. Prudential All-Star is positioned to serve the region's vast multicultural customer base. In 1998, the company generated an annual sales volume of $125 million.

"With its commitment and reputation for quality service in addition to its ability to serve consumers within Miami's diverse cultural base, Prudential All-Star Real Estate represents a tremendous asset to our North American Network of real estate brokerages," said John Van Der Wall, president of The Prudential Real Estate Affiliates, Inc. "These qualities, combined with our shared business philosophies, make us an unbeatable team."

The signing of Prudential All-Star Real Estate is the latest in a series of recent additions to the Prudential Real Estate's presence in the state of Florida. The Prudential Real Estate Network has been rapidly expanding in Florida in the past several months. Prudential WCI Realty based in Naples, Prudential Real Estate Center in Orlando and Prudential Florida Realty Keagy Whiddon in Ft. Lauderdale have joined Prudential Real Estate's existing marketing-leading affiliate companies throughout the Sunshine State.

The Prudential Real Estate Affiliates Inc. (PREA) is a leading full-service real estate franchise operation that awarded its first affiliation in 1988. The company, with headquarters in Irvine, Calif., is a subsidiary of The Prudential Insurance Company of America. The Prudential Real Estate Network comprises 39,000 sales associates in 1,518 North American offices and generated sales of $75.5 billion in 1998. As part of the first fully integrated real estate and relocation company, Prudential Real Estate and Relocation, Network members also have access to Prudential Relocation, which provides a wide range of relocation, human resources and real estate services to the global business community. It serves more than 900 corporate clients, many in the Fortune 500.

Prudential Real Estate can be found on Prudential's Web site at www.prudential.com/.>