DLF Pramerica Life Insurance Co. Receives Regulatory Approval to Start Operations.

NEW DELHI, India -- DLF Pramerica Life Insurance Co. Ltd. (DPLI), a joint venture between DLF, a leading real estate development company in India, and Prudential Financial, Inc. (PFI) (NYSE:PRU), a financial services leader headquartered in the United States, today announced that it has been granted an R3 license by the Insurance Regulatory Authority of India (IRDA), allowing DPLI to start life insurance operations in India.

"We are delighted that DLF Pramerica Life Insurance has achieved this important milestone in the process of launching its business in India," said Rajiv Singh, Vice Chairman of DLF. "The establishment of this company reflects our ongoing commitment to building a new India. DLF Pramerica Life Insurance will be guided by our principle of improving the value proposition to our customers. The combination of PFI and DLF in this joint venture provides a strong foundation for DPLI to make a difference in the life insurance industry."

According to Timothy Feige, Senior Vice President and Co-President of PFI's International Insurance business, "This approval brings us one step closer to providing families in India the protection life insurance and differentiated service we have offered in the United States and around the world for more than 130 years. India is a very important market for PFI. We look forward to working together with DLF to establish DPLI as a leading player in India by meeting the life insurance needs of Indian consumers."

With the receipt of this license, DPLI expects to launch its life insurance business and commence sales in the third-quarter of this year. The company, which is headquartered in Gurgaon, has recruited a highly talented team of professionals and plans to offer a broad range of life insurance products to consumers.

"We are committed to developing DPLI into a successful and enduring life insurance enterprise and are actively recruiting and training our sales teams," said Kapil Mehta, Chief Executive Officer of DPLI. "We intend to raise the standards of life insurance in India by providing high quality service and relevant products to our customers in a cost-effective manner."

The formation of DPLI to offer life insurance products and services in India was announced by DLF and PFI in March 2007. DLF and PFI also announced their intention to establish a joint venture asset management company, DLF Pramerica Asset Managers Private Limited, in December 2007. The two operations will be managed separately.

About DLF Group:

The DLF group is a leading real estate developer in India. The group has over 224 million sq. ft. of executed development and 751 million sq. ft. of planned projects. DLF is committed to quality, trust and customer sensitivity, and delivers on promises with agility, financial prudence and in tune with the highest global standards. The company has also entered into several strategic alliances with global industry leaders.

DLF's core business traditionally has been development of residential, commercial and retail properties. DLF has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down-cycles in the market. DLF has recently forayed into the infrastructure, SEZ, financial services and hotel businesses.

More information about the company is available on www.dlf.in

About Prudential Financial, Inc. (PFI):

Pramerica is the brand name used in India and select countries by PFI, a financial services leader with approximately $631 billion of assets under management as of March 31, 2008, and operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, PFI is focused on helping approximately 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. PFI'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. Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom.