Prudential Fixed Income Management Named Replacement Manager for $490 million CLO (November 23, 2009) NEWARK, N.J., November 23, 2009 - Prudential Fixed Income Management has been selected to serve as replacement manager for Duane Street V CLO, a $490 million collateralized loan obligation. Prudential Fixed Income Management is the fixed income asset management business of Prudential Financial, Inc. (NYSE: PRU). The Duane Street V CLO has been renamed Gateway CLO Limited and represents the ninth portfolio for which Prudential Fixed Income Management is acting as replacement manager. The company currently manages 23 similar structured portfolios, including those issued directly by the company under the Dryden brand. “For the time being, the markets are still closed to new CLO transactions, so we remain focused on building our replacement business,” said Sara Bonesteel, managing director and head of Prudential Fixed Income Management’s alternatives business. “We’re delighted that investors, who typically drive the selection of a new manager, have confidence that we have the experience and resources necessary to assume responsibility for the portfolio.” Prudential Fixed Income Management currently has about $9 billion in collateralized debt-related assets under management, with teams in Newark, N.J., and in London. Prudential Fixed Income Management is among the largest fixed income managers in the United States, with $227 billion in assets under management as of September 30, 2009. The firm, headquartered in Newark, N.J., has offices in London and Singapore, and offers traditional and alternative fixed income strategies to institutional and retail. Its 150 professionals have decades of experience in analyzing and managing credit-related fixed income portfolios using a bottom-up, research-based approach. As of September 30, 2009, the firm managed $83 billion in investment grade corporate bonds, $17 billion in high yield bonds and bank loans, $33 billion in structured product, and $9 billion in emerging markets debt. Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $641 billion of assets under management as of September 30, 2009, 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 individual and institutional customers grow and protect their wealth. In the United States, the company’s 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 www.news.prudential.com.