David Musto Named Site Leader for Prudential Retirement's Dubuque Operations.

NEWARK, N.J. -- Prudential Retirement, a business of Prudential Financial, Inc. (NYSE: PRU), announced today that it has named David Musto as the new site leader for its Dubuque facility, in addition to his role as senior vice president of the organization's Emerging Corporate business.

In his role as site leader, Musto will be responsible for recruitment and development of key personnel for the site, community and state relations, employee events and the working environment, and overall facilities management. As head of the Emerging Corporate business, Musto is responsible for product development, distribution, and service models for corporate clients with under $20 million in retirement plan assets. Musto will continue to report to Scott Sleyster, executive vice president of Prudential's Full-Service Retirement business.

"David's move to Dubuque and his leadership there are intended to help more closely align the Emerging Corporate Segment's strategic and business-planning activities with overall business execution and client service, since the majority of teams supporting the Emerging Corporate Segment reside in Dubuque," said John Kim, president, Prudential Retirement. "This move will undoubtedly prove to be a benefit to our team in Dubuque, as well as capitalize on the core business strengths of that team to further drive our Emerging Corporate strategy," Kim added.

Musto joined the organization in 2001 as head of Product Management for CIGNA Retirement & Investment Services' full-service product lines. Later, he became head of the Growth Market business and then head of the Emerging Corporate business when Prudential acquired CIGNA's retirement business. Prior to that, Musto served as vice president of Product Management at Kamoon, a start-up financial software company, where he led new product and service development and marketing. Earlier, he served in various leadership roles for Prudential Retirement Services, including: senior vice president of Client Service; vice president of Strategic Initiatives; and product development and marketing roles in Prudential's Investment Management and Direct Marketing businesses.

Musto earned a Bachelor's of Business Administration in Finance from the College of William and Mary and a Master's of Business Administration in Finance and International Business from New York University. He also holds Chartered Life Underwriter and Chartered Financial Consultant designations, and NASD Series 7, 24, and 63 licenses.

As site leader, Musto replaces Lori Thielen, who left Prudential in May. An evaluation and search are underway to fill the leadership role for Emerging Corporate Client Service, also previously held by Thielen.

Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art recordkeeping, administration, investment management, comprehensive employee investment education and communications, and trustee services. With over 80 years of retirement experience, Prudential Retirement meets the needs of two million defined contribution participants and more than one million defined benefit annuitants. Prudential Retirement has $130 billion in retirement account values as of March 31, 2005.

Prudential Financial companies, with approximately $496 billion in total assets under management as of March 31, 2005, 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.

Securities products and services are offered by Prudential Investment Management Services LLC (PIMS), which is a Prudential Financial company.