Crisis in Confidence: Majority of Democratic and Republican Women Believe They Won't Have Enough Money in Retirement; Prudential Financial Women's Study Reveals Other Results Transcend Party Lines.

NEWARK, NJ -- Prudential Financial, Inc. (NYSE:PRU), announced today results of its women's financial literacy study that reveal a crisis in confidence among Republican and Democratic women. According to the Prudential study, while 69 percent of Republican and Democratic women feel it's "very" important to avoid running out of money in retirement, just two percent of Republican women and 13 percent of Democratic women are "very" confident they will avoid doing so. Independent party women do not fare better, with just nine percent indicating strong confidence they will have enough money in retirement.

"The vast majority of American women, regardless of political party affiliation, are concerned that they may not have enough money to live well in retirement," said Vivian Banta, vice chairman of Prudential Financial. "Considering women's financial responsibilities have increased in recent years, their lack of confidence signals a very troubling departure from the progress women have made."

Release of the survey results among party lines serves as a follow up to Prudential's complete 2004-2005 Study on the Financial Experience and Behaviors Among Women, which was released in its entirety June 17, 2004. Conducted in February 2004, the study polled 1,134 American women about their financial goals, knowledge and confidence in attaining these goals. Survey respondents are panelists in the Harris Interactive Poll Online. Survey respondents are a national sample of female sole and joint head of households born between 1936 and 1979 (age 25 - 68) and use the Internet. The margin of error is plus or minus 2.9 percentage points at a 95 percent confidence level.

Other results along political party lines include:

Desire for Financial Independence and Security Are a Priority

On a 100-point scale, women, regardless of political party affiliation, assigned nearly half their points to goals related to living comfortably in their later years. In addition to retirement, women stress the importance of controlling their current financial expenses. Women allocate about 30 points to reducing personal debt, setting a budget and lowering personal taxes.

Unsure How Much Money It Will Take

Close to half of the women surveyed do not know how much money they will need in retirement. Specifically, just nine percent of Democratic, 10 percent of Independent and 11 percent of Republican women are "very" confident they know how much money it will take to address their mature years.

Good Intentions

Women say they could do more to secure their financial independence in the future. Half of Republican and Independent women say they expect to save more money during the next 12 months. Fewer (41%) Democratic women plan to boost their savings. About one in three of women, regardless of political party affiliation, intend to realign their portfolios to match their future financial goals.

"More and more women are beginning to recognize that they'll be solely responsible for their financial futures," added Banta. "The fact that nearly half of women polled say they intend to save and invest more is a testament to their willingness to empower themselves in an effort to secure sound financial tomorrows."

Pending Legislation: Women's Views Across Party Lines

Pension Security Act of 2003. Legislation that would allow sponsors of Defined Contribution Plans (401(k) or 403(b) plans) to offer investment advice to companies and their employees who participate in the plan. The desire for professional investment advice transcends party lines. More than half of the women surveyed support this legislation. Republicans (69%), in particular, are in favor of passing this Act. Political supporters of this legislation could gain momentum for the Act by educating the one in four Democratic or Republican women who feel uninformed about this legislation.

Pension Preservation and Savings Expansion Act of 2003.

Legislation that would encourage employees to save more for retirement and improve workplace retirement plans. Having enough money for a secure retirement is the number one priority for most women. Not surprisingly, six in 10 women support this legislation. More than three in 10 Republicans (35%) register "strong" support for this Act.

Long-Term Care and Retirement Security Act of 2001.

Legislation that would provide $3,000 tax credit for caregivers and those in need of long-term care; allow individuals to deduct qualified long-term care insurance (LTCi) premiums; allow LTCi premiums to be included in employee Flexible spending accounts.

More than seven in 10 women align with legislation that delivers tax relief for long-term care expenses. It's quite possible that women anticipate outliving their spouses and want to avoid transferring care responsibilities to others if they become incapacitated. As a result, about four in 10 women would be more inclined to purchase long-term care insurance. More than half (52%) Republican women would seriously consider obtaining coverage.

For more information, including a complete copy of the study and a link to Women's Guide to Personal Finance, visit www.prudential.com/women-empowered.

Prudential Financial companies, with approximately $454 billion in total assets under management as of March 31, 2004, 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, 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.