DISCOVERY SELECT Variable Annuity Passes Billion Dollar Mark; Popular Product Offered by Prudential Investments.

NEWARK, N.J.--(BUSINESS WIRE)--Oct. 6, 1997--Prudential Investments announced today that its DISCOVERY SELECT(SM) variable annuity has topped $1 billion in premium sales in less than a year in the market. As a result, DISCOVERY SELECT was ranked one of the fastest growing variable annuities by the Variable Annuity Research & Data Service.(1)

In other Prudential Investments news, PRUCHOICE, the company's mutual fund wrap program offering 260 load and no-load funds from 50 fund families, reached $1 billion in assets this month. Kiplinger's Personal Finance Magazine rated Prudential the "Best For Mutual Fund Wrap Accounts," citing PRUCHOICE's wide variety of fund families, low annual fee of 1.25%, and minimum investment of $25,000 for individual accounts and $10,000 for IRAs and custodial accounts. PRUCHOICE and DISCOVERY SELECT were launched together on Oct. 7, 1996.

DISCOVERY SELECT, issued by Pruco Life Insurance, is a tax-deferred annuity, which provides contract owners the ability to defer taxes on investment earnings each year. A free Asset Allocation Program helps contract owners manage risk, while allocating their investment options to best meet their long-term objectives. There are two interest rate investment options and 19 variable investment options -- including domestic value and growth stock portfolios, foreign stock portfolios, bond portfolios and money market portfolios from Prudential, AIM Advisors, Janus, MFS, OpCap Advisors, T. Rowe Price and Warburg Pincus -- across conservative, moderate, and aggressive risk levels.(2) Industry sales of variable annuities totaled $73.8 billion in 1996, and are expected to reach $85 billion by year-end 1997.(3)

"As more than 82 million Baby Boomers prepare for retirement, the are finding that variable annuities are the best supplement to their 401(k) programs," said Brian Storms, president of mutual funds and annuities for Prudential Investments. "As these investors compare the annuity products in the market they find that DISCOVERY SELECT offers numerous investment options and is exceptionally flexible," said Storms.

DISCOVERY SELECT's features include auto-rebalancing, which brings variable investment selection back in line with the original allocation, or with a different allocation specified at a later date. If contract owners wish to change their investment allocation, DISCOVERY SELECT allows up to 12 tax-free fund transfers each year. For contract owners who want to add to their annuity, DISCOVERY SELECT allows for additional payments of $1,000 or more at any time, after an initial purchase payment of at least $10,000.

DISCOVERY SELECT also offers flexibility in the payout phase. Contract owners may choose a lump sum or regular payment schedule. In addition, contract owners who are terminally ill or confined to a nursing home or hospital can access their contract values without early withdrawal penalties. DISCOVERY SELECT also provides protection with a death benefit from Pruco Life Insurance Company, which is "stepped up" every three years to account for market increases. In the event of the contract owner's death, beneficiaries will receive the greatest of the contract fund value, the total of all purchase payments (minus withdrawals), or the greatest contract fund value calculated on every third anniversary contract through age 90 (minus withdrawals).

DISCOVERY SELECT is available for sale in all states and the District of Columbia through Prudential Securities' 6,000 financial advisors and Pruco Securities' 11,000 registered representatives.

Prudential Investments, a unit of the Prudential Insurance Company of America, has $200 billion in assets under management, and provides professional investment management services for individuals and institutions through mutual funds, annuities, retirement services and institutional asset management. -0-

NOTES: I. DISCOVERY SELECT is issued by Pruco Life Insurance Company except in NY, where the issuer is Pruco Life Insurance of New Jersey. Pruco Life Insurance Company, Pruco Securities and Prudential Securities are subsidiaries of The Prudential Life Insurance Company of America.

II. DISCOVERY SELECT is offered by prospectus. The prospectus contains more complete information including charges and expenses. Annuities have limitations. Investors are encouraged to read the prospectus carefully before investing. For costs and complete details of coverage, call your Prudential professional.

III. Withdrawals of earnings are subject to ordinary income tax and may be subject to a 10% penalty if taken prior to age 59 1/2.

IV. The policy form number for DISCOVERY SELECT in Oregon is JFM-96-OR. DISCOVERY SELECT is a service mark of Prudential -0-

(1) VARDS, 6/30/97

(2) Twenty investment options are available to residents of MD, OR, & WA.

(3) VARDS, 8/22/97

CONTACT: Prudential Investments

Jenna McNeill, 973/802-5682

-or-

Kratz & Company

212/979-2700

Kate Paxton, ext. 211

Kathy Fischer, ext. 246