Prudential Financial Among First in the Insurance Industry to Implement Data Verification Report; Report Significantly Reduces Phone Contact to Verify Customer Information.

Business Editors

NEWARK, N.J.--(BUSINESS WIRE)--March 22, 2004

Prudential Financial, Inc. (NYSE:PRU) announced today a new Data Verification Report that significantly reduces the need for additional phone contact to verify customer information. Prudential is among the first in the industry to have the ability to produce this report by leveraging the skills of internal investigators with an automated system for receiving computer search results of public access information. The new process maximizes detection of antiselection and fraud while increasing underwriter efficiency. As a result, clients will experience fewer contacts and producers should experience shorter turnaround times. This translates into better client relationships and better business.

Previously, during the life insurance new business process, clients were contacted over the telephone by an outside vendor who produced an Inspection Report to essentially confirm information previously provided. "In many cases, the process caused an inconvenience for the client, often resulting in underwriting delays", said, Kent Sluyter, vice president, Underwriting and Investigations. "Now the process will be easier for the client, more efficient for the underwriter and more protective against fraud for Prudential."

In the new process, a member of the company's internal Special Investigation Unit (SIU) analyzes computer search results of public information databases and presents only the targeted information to the underwriter for review. The SIU Data Verification Report:

-- Utilizes available databases of public access information to

verify customer information

-- Positively identifies the applicant

-- Identifies false information

-- Uncovers and prevents fraud

Additionally, the reports provide independent validation of risk information in keeping with Know Your Customer protection guidelines as required by the U.S. Patriot Act. Equally important, this more efficient process minimizes the risk of fraudulent claims at the front end before a policy is issued.

Prudential Financial companies, with approximately $432 billion in total assets under management as of December 31, 2003, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the U.S. 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.