[March 18, 2013]

Prudential Retirement expands Pension Risk Transfer team

Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU), announced today that Rohit Mathur has joined Prudential Retirement's pension risk transfer (PRT) team in the newly created role of senior vice president, Global Product and Market Solutions.

Mathur will assess corporate finance implications of pension risk management to cultivate a consistent recognition of pension de-risking solutions. He will partner with our distribution team in the service of our clients and promote understanding of these issues among credit and equity analysts, treasurers, chief financial officers and investment bankers. He will also lead the team developing original research and related marketing for pension de-risking strategies.

Mathur will report to Scott Kaplan, senior vice president, Head of Global Product and Market Solutions, Pension and Structured Solutions.

"Corporate pension plan sponsors are increasingly looking to pension risk transfer solutions as a means to reduce financial statement volatility, allow greater focus on their firms' core businesses and ensure strategic flexibility," said Phil Waldeck, senior vice president and head of pension and structured solutions.

"Our pension risk transfer team is focused on helping corporate plan sponsors achieve greater financial certainty with their pension obligations and o provide retirement security to their pension plan participants. Rohit strengthens our growing pension risk transfer team as he brings tremendous experience and expertise with pension risk issues. Reflecting market demand, his addition underscores our continuing investment in our PRT team and commitment to further building out our world class and industry-leading business practice."

Mathur was most recently an executive director, Capital Structure and Strategy for UBS Investment Bank, where he worked with clients in multiple industries with a specific focus on corporate finance, risk advisory and pension issues. Prior to that, he was with Moody's Investors Service where he published research on accounting and pension issues and worked with credit analysts to incorporate those risks more systematically into company ratings. He holds a Ph.D. from Columbia Business School.

Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. With over 85 years of retirement expertise, Prudential Retirement helps meet the needs of over 3.6 million participants and annuitants. Prudential Retirement has $289.8 billion in retirement account values as of December 31, 2012. Insurance products are issued by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or The Prudential Insurance Company of America (PICA), Newark, NJ. Both are Prudential Financial companies. Each company is solely responsible for its financial condition and contractual obligations.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $1.060 trillion of assets under management as of December 31, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

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