Additional portfolio changes reinforce commitment to choice, flexibility and oversight

Company Website: http://www.prudential.com
NEWARK, N.J. -- (Business Wire)

Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYSE:PRU), today announced a new asset allocation portfolio available with its Prudential Premier Retirement variable annuities that offer the Highest Daily Lifetime Income v3.0 benefit.

The addition of the AST ^TM Legg Mason Diversified Growth Portfolio brings the total number of asset allocation portfolios available to 23, and was designed to appeal to investors seeking growth with a disciplined strategy for downside risk management.

Highlights of the new portfolio include:

• 85% equities and 15% fixed income
• Blends quantitative and fundamental strategies resulting in greater stability and return potential
• Risk-aware focus to help manage downside volatility while providing upside potential
• Diversified across multiple Legg Mason affiliated managers.

“Our new asset allocation portfolio was designed to offer investors additional opportunities to achieve returns, while maintaining appropriate levels of risk,” said Timothy Cronin, Chief Investment Officer for Prudential Annuities. “It is through our innovative approach to risk management that we can offer investors access to a broad and complementary range of innovative investment strategies.”

There are also changes to the AST New Discovery and AST Advanced Strategies Asset Allocation Portfolios, highlighting Prudential’s commitment to emerging managers:

• Vision Capital Management will replace Brown Advisory in the Large-Cap Growth sleeve of the AST New Discovery Asset Allocation portfolio. Brown Advisory will remain on the investment platform and will manage a sleeve in the AST Advanced Strategies Portfolio.
• Longfellow Investment Management Co. LLC will replace the current subadvisor of the Core Plus Fixed Income sleeve of the AST New Discovery Asset Allocation Portfolio.

Other notable changes to Prudential Annuities’ single asset class portfolios, also effective today, include:

• AST Boston Partners Large-Cap Value Portfolio will replace AST Jennison Large-Cap Value Portfolio
• AST Small-Cap Growth Opportunities Portfolio will replace AST Federated Aggressive Growth Portfolio, and will be managed by RS Investment Management and Wellington Management.
• Lazard Asset Management LLC will replace Thornburg Investment Management, Inc. in the AST International Value Portfolio.

“Our industry continues to face growing demand from investors who seek solutions that offer income certainty in retirement,” said Bruce Ferris, president, Prudential Annuities Distributors. “Today's announcement allows financial professionals to offer their clients access to a broader range of investments and strategies to help meet their individual financial planning goals, and help ensure they can enjoy a successful retirement."

Prudential Annuities, a division of Prudential Financial, Inc., creates and markets variable annuity products that provide tax advantages for those saving for retirement, and a way to transition their savings into guaranteed income they cannot outlive. Learn more at https://incomecertainty.prudential.com/

Prudential Financial, Inc. (NYSE: PRU), a financial services leader, 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/

*All references to income certainty and guarantees are backed by the claims-paying ability of the issuing company.

Investors should consider the features of the contract and the underlying portfolios' investment objectives, policies, management, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectus, which can be obtained from your financial professional. Please read the prospectus 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 (main office) and 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. Prudential Annuities is a business of Prudential Financial, Inc.

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

A variable annuity is a long-term investment designed for retirement purposes. Investment returns and the principal value of an investment will fluctuate so that an investor’s units, when redeemed, may be worth more or less than the original investment. Withdrawals or surrenders may be subject to contingent deferred sales charges.

An excess withdrawal occurs when your cumulative Lifetime Withdrawals exceeds the income amount allowed by the product or living benefit in an annuity year. If an excess withdrawal is taken, only the portion of the Lifetime Withdrawal that exceeds the remaining income amount for that year will proportionally reduce the guarantee for future years. If a withdrawal in excess of the income amount reduces the account value to zero, no further amount would be payable and the contract terminates.

Asset allocation does not ensure a profit or protect against a loss.

Variable annuities offered by Prudential Financial companies are available at a total annual insurance cost of 0.55% to 1.95% (depending on the product chosen) with an additional fee related to the professionally managed investment options. Note: All products may not be available through all third party broker/dealers.

Prudential Annuities and its distributors and representatives do not provide tax, accounting, or legal advice. Please consult your own attorney or accountant.

Issued on contract: P-BLX/IND(2/10), P-CR/IND(2/10), P-RID-HD(2/14), P-RID-HD-HDB(2/14), et al. or state variation thereof.

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Contacts:

Prudential Financial, Inc.
Lisa M. Bennett, (973) 802-2894
lisa.bennett@prudential.com

Source: Prudential Financial, Inc.