Keyes-Gateway Inc. REALTORS Merges with Prudential Residenz REALTORS in Ohio.

Business Editors & Real Estate Writers

IRVINE, Calif--(BUSINESS WIRE)--Jan. 28, 2003

The Prudential Real Estate Affiliates Inc., a Prudential Financial (NYSE:PRU) company, today announced that Dayton, Ohio-based Keyes-Gateway Inc. REALTORS(R) has merged with Prudential Residenz REALTORS(R).

The new company will operate as Prudential Residenz, REALTORS(R).

"The value of the Prudential brand along with our strong management, relocation and marketing departments will allow us to continue to provide the highest standard of customer service and satisfaction, and give us additional resources for our sales professionals," said James M. Keyes, Chairman/CEO of Keyes-Gateway Inc. REALTORS.

"For almost 70 years, my family has delivered real estate services throughout the Dayton/Miami Valley area and now our affiliation with The Prudential Real Estate Affiliates Inc., will allow us to continue with regional growth while giving us strong national exposure," Keyes added.

"We look forward to the opportunities that this merger will create," said Rob Arnold, president of Prudential Residenz, REALTORS and a prominent builder/developer in and around the Dayton area. "Prudential Residenz, REALTORS has been one of the fastest growing real estate companies in our area offering superior real estate and relocation services.

"We are also leaders in the market with the finest facilities and technology platforms giving our staff the ability to deliver top-notch service to our customers," Arnold added.

Keyes-Gateway Inc. REALTORS with more than 150 sales professionals will be joining the more than 100 sales professionals currently with Prudential Residenz, REALTORS. The combined company will service 11 counties in West Central Ohio including the metropolitan areas of Dayton, Springfield, Troy, Greenville, Urbana, Lebanon, Springboro, Wilmington, Xenia, Centerville, West Milton, Beavercreek, Vandalia, Tipp City, Huber Heights, Oakwood, Fairborn, Eaton, and Wright Patterson Air Force Base.

"Jim Keyes is a third-generation realtor, past President of the Ohio Association of REALTORS as well as the Dayton Area Board of REALTORS," said Earl Lee, president, The Prudential Real Estate Affiliates. "His expertise and work ethic play an integral role in recruiting and training highly qualified sales professionals. His commitment to real estate will assure continued success with Prudential Residenz, REALTORS."

"For over 20 years, we have developed the finest in relocation services to the transferring customer and corporations in and around the Dayton area," said Donna R. Kenner, executive vice president of Corporate Development and Relocation Services, Keyes-Gateway Inc. REALTORS. "Our new affiliation with Prudential Residenz, REALTORS and Prudential Real Estate and Relocation Services will enhance that service delivery, and I look forward to bringing the quality of the 'Rock' to our sales professionals and our expanded marketplace."

The Prudential Real Estate Affiliates consists of companies that are selected based upon outstanding performance records, high levels of customer service and shared business values. Upon joining The Prudential Real Estate Affiliates, companies are provided with many benefits, including access to a free and private Web site that links sales professionals to a 24/7 resource, and increased media exposure through an advertising campaign that encompasses some of America's most watched networks and print media. The Prudential Real Estate Affiliates is also the largest real estate advertiser in The Wall Street Journal.

The Prudential Real Estate Affiliates' educational programs and networking events continue to be a top-rated benefit of affiliation. From Prudential University Online and Prudential University, to live training in the company's Regional training centers -- The Prudential Real Estate Affiliates members have the opportunity to learn the industry's best practices to potentially boost sales.

About Prudential Real Estate and Relocation Services

Prudential Real Estate and Relocation Services is Prudential Financial's integrated real estate brokerage franchise and relocation services business. The real estate group markets franchises primarily to existing real estate companies. All franchisees are independently owned and operated. Prudential Financial's real estate franchise group network has grown significantly since it began offering franchises in 1988 and is now one of the largest real estate brokerage franchise networks in North America.

Prudential Financial companies, with approximately $533 billion in total assets under management and administration as of Sept. 30, 2002, 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, property and casualty 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.