Prudential Relocation Signs CORT Furniture Rental as a Preferred Provider

Business Wire, June 13, 2003

Business Editors/Real Estate Writers

IRVINE, Calif.--(BUSINESS WIRE)--June 13, 2003

Prudential Relocation, a business of Prudential Financial (NYSE:PRU), recently signed an agreement with CORT Furniture Rental to be a preferred provider of furniture rental for Prudential Relocation clients and their transferring employees.

"Furniture rental is a key service for over half of all relocating executives while on assignment," said Margery Marshall, president, Prudential Relocation. "It's important in these changing times to provide services to our clients to make the relocation process for their employees as seamless as possible. Working with CORT Furniture Rental is just another step in providing our clients with the tools they need to make an educated decision on relocating," Marshall added.

CORT Furniture Rental will provide furniture, house wares, and electronics rental to Prudential Relocation clients in the United States. CORT Global Furniture Rental will assist with international employee relocations through their worldwide network of rental service providers in more than 31 countries.

Prudential Relocation has offices in Paris, London, Hong Kong, Mexico City, Toronto, Singapore, New York and Phoenix, offering more than 30 services to meet the increasing need for integrated domestic and international services in a global economy. Some of these services include policy counseling, home finding, settling-in assistance, global workforce development, cost management and household goods management.

About Prudential Relocation

Prudential Financial's relocation group is the second largest provider of comprehensive global relocation services in the United States as of Feb. 22, 2002, according to Relocation Information Services. In 2002, the company completed approximately 188,000 service transactions for 56,250 transferees.

With locations in the United States, Canada, United Kingdom, France, Mexico, Hong Kong and Singapore, Prudential Financial's relocation group has the global capabilities to offer clients a variety of services in connection with the relocation of their employees. These services can include coordination of intra- and inter-country relocations, intercultural training, global business consulting, appraisal, inspection and sale of relocating employees' homes, equity advances to relocating employees, assistance in locating a home at the relocating employee's destination, global household goods moving services and client cost-tracking, and a variety of relocation policy and group-move consulting services. The company has an established client base, ranging from global Fortune 500 companies to U.S. government agencies.

Prudential Financial companies, with approximately $550 billion in total assets under management and administration as of March 31, 2003, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, property and casualty insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prudential.com.