James King, senior vice president and head of Prudential Retirement's Stable Value Markets Group, has been elected Chairman of the Board for the Stable Value Investment Association (SVIA). He began his tenure Jan. 1, 2012 with the non-profit industry organization dedicated to educating retirement plan sponsors and participants about the importance of saving for retirement and the contribution stable value funds can make toward achieving retirement security. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

"I'm thrilled to be representing Prudential Retirement as the Chairman of the Board for the Stable Value Investment Association," said King. "During my tenure, I plan to support the asset class by continuing to provide education around the importance of a stable value component in retirement savings plans to regulators and legislators as well as encourage the adoption of stable value by plan sponsors."

As of Sept. 30, 2011, Prudential Retirement has more than $78 billion in Stable Value retirement account values, including more than $37 billion in Institutional Stand-Alone Third Party Stable Value.

"Prudential Retirement is very supportive of the asset class as a whole because it provides consistent financial returns," said Jamie Kalamarides, senior vice president, Institutional Investment Solutions, Prudential Retirement. "Stable value has always been and will continue to be a core asset class in retirement plans for Prudential Retirement."

"I'm pleased Jim has been elected Chairman of the Board for the SVIA," said Gina Mitchell, president, SVIA. "The benefits of stable value to plan participants cannot be emphasized enough in today's volatile and low-interest-rate environment as the asset class's value proposition has come under increased scrutiny by plan sponsors in the wake of the financial crisis. Jim has been at the forefront educating both plan sponsors and participants on the benefits of diversification and the principal preservation stable value can provide. He has also helped in building a stronger, more robust, more sustainable stable value product for the industry. Jim has been a stalwart in his advocacy with all stakeholders to increase their understanding of stable value."

Stable Value products are issued by either Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, Conn., or The Prudential Insurance Company of America (PICA), Newark, N.J. Both are Prudential Financial companies. Each company is solely responsible for its financial condition and contractual obligations. Guarantees are contingent on the claims paying ability of the issuer.

The Stable Value Investment Association (SVIA) is a non-profit organization dedicated to educating policymakers and the public about the importance of saving for retirement and the contribution stable value funds can make toward achieving a financially secure retirement. As of December 31, 2010, the SVIA members managed over $540 billion invested in stable value funds by more than 25 million participants. The SVIA's 75 member companies represent all segments of the stable value community, including public and private retirement plan sponsors, and numerous insurance companies, banks, and investment managers.

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 experience, Prudential Retirement helps meet the needs of over 3.6 million participants and annuitants. Prudential Retirement has $214.7 billion in retirement account values as of September 30, 2011.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $871 billion of assets under management as of September 30, 2011, 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, investment management, and real estate services. 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/.

Prudential Financial, Inc.
Josh Stoffregen, 973-802-3996
mobile: 973-204-2450
josh.stoffregen@prudential.com
or
Dawn Kelly, 973-802-7134
mobile: 201-406-7248
dawn.kelly@prudential.com