Innovative Benefit Doubles Guaranteed Annual Retirement Income Based on Health Conditions

NEWARK, N.J., Jul 23, 2008 (BUSINESS WIRE) -- Prudential Annuities, the domestic annuity business for Prudential
Financial, Inc. (NYSE:PRU) today announced the latest innovation in
its award-winning(1) array of variable annuity optional living
benefits, Highest Daily Lifetime Seven with Lifetime Income
Accelerator. This flexible income option can double investors' annual
income amount should certain health conditions be present.

HD Lifetime Seven with Lifetime Income Accelerator is the first
benefit of its kind to provide investors with the flexibility to
increase their annual income regardless of whether they are still
living at home or in a qualified nursing facility. Investors can
qualify for double their guaranteed annual income if they are either
unable to perform two or more activities of daily living, or confined
to a qualified nursing facility.

Prudential Annuities' newest guaranteed lifetime income option is
only available on variable annuities with HD Lifetime Seven, the
benefit that locks in an investor's investment gains every day to
maximize income.

"Rising health-care costs are a real concern for individuals in or
approaching The Retirement Red Zone(R)--the five years before and
after retirement," says David Odenath, President of Prudential
Annuities. "Our newest income benefit provides investors with the
flexibility to double their annual income amount, and most
importantly, help them protect their quality of life." HD Lifetime
Seven with Lifetime Income Accelerator was developed to help manage
changing needs in retirement. It is not long-term care insurance and
should not be purchased in place of long-term care insurance.

The Lifetime Income Accelerator benefit is available on HD
Lifetime Seven, a variable annuity optional living benefit that offers
a protected withdrawal value based on 7% annual compounded growth on
the highest daily account value (for the first 10 years, or until
first withdrawal, whichever is sooner) which provides for daily
opportunities to capture greater lifetime income of 5%-8% of their
protected withdrawal value, depending on age at first withdrawal,
guaranteed for life. Annuitization is not required.

A waiting period of three years following the initial benefit
election applies before accelerated income can begin. Additionally, a
120-day elimination period applies; the waiting period and elimination
period may run concurrently. The total annual cost for HD Lifetime
Seven with Lifetime Income Accelerator is 0.95%, which is assessed
quarterly against the Protected Withdrawal Value (adjusted for
withdrawals and premiums) on the last day of the benefit quarter.

"Our newest innovation was developed in response to Americans'
growing concern about their retirement income security, and gives
financial professionals a new tool to help their clients secure
additional income when they need it most," says June Amori, Senior
Vice President of Marketing for Prudential Annuities. "For investors
interested in growing and protecting their retirement income,
Prudential Annuities can offer a highest daily strategy that addresses
their needs."

Since their debut in January of 2008, Prudential Annuities'
highest daily optional living benefits, Highest Daily Lifetime Seven
and Spousal Highest Daily Lifetime Seven, have contributed to
Prudential demonstrating the strongest growth rate in the first
quarter of 2008 of the top 10 Advisor-sold variable annuity writers.
Source: VARDs, Q1 2008 report.

Reflecting the popularity of these features, the overall election
rate for optional living benefits on Prudential Annuities' variable
annuity sales for the quarter ended March 31, 2008 was 81%. Total
account values with guaranteed withdrawal benefits for life at the end
of that period was $16.9 billion.

Prudential Financial, Inc. (NYSE: PRU), a financial services
leader with approximately $631 billion of assets under management as
of March 31, 2008, has operations in the United States, Asia, Europe,
and Latin America. Leveraging its heritage of life insurance and asset
management expertise, Prudential 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. Prudential'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
http://www.news.prudential.com/.

Variable annuities are long-term investments designed for
retirement purposes. Investment return and principal value of an
investment will fluctuate so that an investor's unit values, when
redeemed, may be worth more or less than their original cost.
Withdrawals or surrenders may be subject to surrender charges.
Withdrawals and distributions of taxable amounts are subject to
ordinary income tax and, if made prior to age 591/2, may be subject to
an additional 10% federal income tax penalty. Withdrawals, for tax
purposes, are deemed to be gains out first. Withdrawals can reduce the
living benefit, death benefit and account value.

Optional living and death benefits may not be available in every
state and may not be elected in conjunction with certain optional
benefits. The fees are in addition to fees and charges associated with
the basic annuity. See the prospectus for more detailed information.

Annuity contracts contain exclusions, limitations, reductions of
benefits and terms for keeping them in force. Your licensed financial
professional can provide you with costs and complete details.

Guarantees are backed by the claims-paying ability of the issuing
company.

Highest Daily Lifetime Seven P-RID-HD7 (1/08).

Investors should consider the contract and underlying portfolios'
investment objectives, risks, charges and expenses carefully before
investing. This and other important information are contained in the
prospectuses, which can be obtained from your financial professional.
You should read the prospectuses carefully before investing.

Variable annuities are issued by Pruco Life Insurance Company (in
New York, by Pruco Life Insurance Company of New Jersey), Newark, NJ,
or by Prudential Annuities Life Assurance Corporation, Shelton, CT.
All are distributed by Prudential Annuities Distributors, Inc.,
Shelton, CT. All are Prudential Financial companies and each is solely
responsible for its own financial condition and contractual
obligations. Wachovia Corporation is the majority owner and Prudential
Financial, indirectly through subsidiaries, is a minority owner of
Wachovia Securities, LLC. Prudential Annuities is a business unit of
Prudential Financial.

Prudential Financial, the Rock logo, and the Rock Prudential logo
are registered service marks of The Prudential Insurance Company of
America, Newark, NJ, and its affiliates.

(1)Boomer Market Advisor Reader's Choice Awards, 2005, 2006, 2007.

IFS-A150804 Ed. 7/2008

SOURCE: Prudential Financial, Inc.

Prudential Financial, Inc.
Lisa M. Bennett, 973-802-2894
or
Alicia Rodgers-Alston, 973-802-4446

Copyright Business Wire 2008