28 Jun 2000

Listing of Prudential Shares on New York Stock Exchange

Prudential plc today announced it has listed on the New York Stock Exchange (NYSE) and expects to raise total proceeds of approximately $209 million through a Global Offer, which will be used for general corporate purposes. Trading on the NYSE is expected to commence today at 10:00 a.m. (EST).

Commenting on the announcement, Jonathan Bloomer, Group Chief Executive of Prudential plc, said:

“I am delighted our shares are now listed on the New York Stock Exchange. The listing reflects our position as a leading international financial services group with a worldwide operational presence.”

Philip Broadley, Group Finance Director of Prudential plc, said:

“The listing is a significant step in our continued development in the United States and the rest of the world. The listing provides us access to the world’s largest capital markets and has broadened further our international shareholder base.”

This press release is not an offer for sale of the securities in the United States and the Securities may not be sold in the United States absent registration or exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities in the United States will be made by means of a prospectus that may be obtained from Prudential plc (the Company) containing detailed information regarding the “Company”. The Company has registered a portion of the offering in the United States.

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The announcement has been issued by Prudential plc and has been approved for the purposes of Section 57 of the Financial Services Act 1986 by Morgan Stanley & Co. International Limited, which is regulated in the United Kingdom by The Securities and Futures Authority Limited.

Not for distribution or release in or into the United States, Canada or Japan or to U.S. persons

Notes for Editors:

Information on Prudential

Prudential plc is a leading international financial services group with a market capitalisation of approximately £20 billion and funds under management in excess of £170 billion at 31 December 1999. In the UK, Prudential is the largest life insurance company and pension annuity provider. In the US, Prudential owns Jackson National Life, the 20th largest US life insurance company. Prudential is also one of the largest UK insurers in Asia with operations in 10 countries and, in Europe, Prudential has entered into strategic distribution arrangements with CNP Assurances in France and Signal Iduna in Germany. Prudential's group-wide operations had new funds in-flows of £18.6 billion in 1999, including £12.3 billion of insurance and investment sales. Profit before tax in 1999 amounted to £750 million.

The Global Offer

Prudential plc issued 15 million shares in the form of Ordinary Shares and American Depositary Shares in the US and international offerings, priced at £9.24 per ordinary share and $27.82 per American Depositary Share. Prudential expects to raise total proceeds of approximately $209 million through this offering. Each American Depositary Share represents the right to receive 2 Ordinary Shares of 5 pence each and with one vote per share. Prudential has granted the underwriters an over allotment option relating to 2.25 million shares.

The syndicate

The syndicate for the Global Offer comprises:

Morgan Stanley Dean Witter global co-ordinator, lead manager and bookrunner
Cazenove & Co. co-lead manager
Goldman Sachs International co-lead manager
UBS Warburg co-lead manager

- ENDS -

Not for distribution or release in or into the United States, Canada or Japan or to U.S. persons

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).