Prudential Financial's Asset Management Business in Korea Receives Qualified Foreign Institutional Investors License

Business Wire, April 14, 2008

Prudential Asset Management Co., Ltd. is the first Korean financial institution to obtain QFII status

NEWARK, N.J. -- Prudential Financial, Inc. (NYSE: PRU) announced today that Prudential Asset Management Co., Ltd. (PAMC), the company's investment management business in Seoul, South Korea, was granted a Qualified Foreign Institutional Investors (QFII) license from the China Securities Regulatory Commission (CSRC) on April 11. The QFII license paves the way for PAMC to invest in Chinese A-shares. PAMC is the first Korean financial institution to obtain QFII status.

QFII refers to a foreign institutional investor that is qualified to invest in the Chinese A-share market. There are 52 foreign institutions that have been granted this status due to strict requirements.

"We are delighted that the CSRC has granted our asset management business in Korea with a QFII license," said Stephen Pelletier, chairman and CEO of International Investments, the area that oversees PAMC for Prudential. "This license will give Prudential the opportunity to showcase our global capabilities by having our business in Korea work in partnership with our joint venture business in China."

"By obtaining QFII status, PAMC will be able to offer to Korean investors a more attractive product with direct investment in the Chinese market," said Chang-hoon Lee, CEO of PAMC.

Prudential Asset Management Co., Ltd., an affiliate of Prudential Investments & Securities Co., Ltd., is one of the biggest asset managers in Korea with approximately 10.59 trillion won of assets under management (including Discretionary Investment Management) as of March 31, 2008.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $648 billion of assets under management as of December 31, 2007, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping more than 50 million individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.prudential.com.