Exhibit 99.0

For Immediate Release	Contact:	Gabrielle Shanin
May 5, 2010		(973) 802-7779

PRUDENTIAL FINANCIAL, INC.

ANNOUNCES FIRST QUARTER 2010 RESULTS

• Net income of Financial Services Businesses attributable to Prudential Financial, Inc. of $536 million, or $1.15 per Common share.

• After-tax adjusted operating income of $699 million, or $1.49 per Common share; earnings per Common share up 45% from year-ago quarter.

• Significant items included in current quarter adjusted operating income:

• Net pre-tax benefit of $115 million in Individual Annuities from reserve releases for guaranteed death and income benefits, reduced amortization of deferred policy acquisition and other costs, mark-to-market of hedging positions and embedded derivatives, and refinements based on review and settlement of reinsurance contracts related to acquired business.

• Operational highlights for the first quarter:

• Individual Annuity gross sales of $4.9 billion, up from $2.2 billion a year ago; net sales $3.2 billion, up from $643 million a year ago.

• Full Service Retirement gross deposits and sales of $5.6 billion and net additions of $1.1 billion, marking the tenth consecutive quarter of net additions, compared to gross deposits and sales of $10.5 billion and net additions of $6.3 billion a year ago.

• Individual Life annualized new business premiums of $68 million, compared to $84 million a year ago.

• Group Insurance annualized new business premiums of $346 million, compared to $344 million a year ago.

• International Insurance constant dollar basis annualized new business premiums reach record-high $396 million, compared to $337 million a year ago.

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• Assets under management of $693 billion at March 31, 2010, compared to $667 billion at December 31, 2009.

• Gross unrealized losses on general account fixed maturity investments of the Financial Services Businesses of $3.7 billion at March 31, 2010, compared to $4.4 billion at December 31, 2009; net unrealized gains of $2.4 billion at March 31, 2010 compared to $998 million at December 31, 2009.

• GAAP book value for Financial Services Businesses, $25.7 billion or $54.63 per Common share, compared to $24.2 billion or $51.52 per Common share at December 31, 2009.

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) today reported net income of its Financial Services Businesses attributable to Prudential Financial, Inc. of $536 million for the first quarter of 2010, compared to a net loss of $5 million for the year-ago quarter. Net income per Common share was $1.15 for the first quarter of 2010 and 1 cent for the year-ago quarter. After-tax adjusted operating income for the Financial Services Businesses was $699 million ($1.49 per Common share) for the first quarter of 2010, compared to $427 million ($1.03 per Common share) for the first quarter of 2009. Adjusted operating income is a non-GAAP measure as discussed below.

“Each of our divisions achieved solid earnings growth for the first quarter, giving us a strong start toward reaching our goals for the year. Our sales momentum and net flows for the first quarter reflect our enhanced competitive position, as clients look to Prudential as a trusted partner offering innovative solutions to meet financial security needs. Our financial strength and flexibility position us well to take advantage of market opportunities, and we are focused on adding quality business that can contribute appropriate returns over market cycles. While we continue to live in uncertain times, I am confident that our balanced portfolio of businesses and talented staff will support our growth of sustainable earnings power over time,” said Chairman and Chief Executive Officer John Strangfeld.

Adjusted operating income is not calculated under generally accepted accounting principles (GAAP). Information regarding adjusted operating income, a non-GAAP measure, is discussed

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later in this press release under “Forward-Looking Statements and Non-GAAP Measures,” and a reconciliation of adjusted operating income to the most comparable GAAP measure is provided in the tables that accompany this release.

Financial Services Businesses

Prudential Financial’s Common Stock (NYSE:PRU) reflects the performance of its Financial Services Businesses, which consist of its U.S. Retirement Solutions and Investment Management, U.S. Individual Life and Group Insurance, and International Insurance and Investments divisions and its Corporate and Other operations.

The International Investments segment’s Korean asset management operations have been classified as “discontinued operations” and excluded from adjusted operating income for all periods presented, as a result of the company’s definitive agreement to sell these operations.

In the following business-level discussion, adjusted operating income refers to pre-tax results.

The U.S. Retirement Solutions and Investment Management division reported adjusted operating income of $514 million for the first quarter of 2010, compared to $175 million in the year-ago quarter.

The Individual Annuities segment reported adjusted operating income of $260 million in the current quarter, compared to $17 million in the year-ago quarter. Current quarter results benefited $53 million from net reductions in reserves for guaranteed minimum death and income benefits and $21 million from a net reduction in amortization of deferred policy acquisition and other costs, reflecting an updated estimate of profitability for this business. These benefits to results were largely driven by increases in customer account values during the current quarter. Mark-to-market of embedded derivatives and related hedge positions associated with living benefits, after amortization of deferred policy acquisition and other costs, and hedging positions implemented in mid-2009 to mitigate exposure to declines in capital from adverse financial market conditions, resulted in a net benefit of $16 million to current quarter adjusted operating income. In addition,

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current quarter results include a net benefit of $25 million from refinements based on review and settlement of reinsurance contracts related to acquired business. Results for the year-ago quarter included a net charge of $327 million from adjustment of reserves and amortization to reflect an update of estimated profitability, largely driven by declines in customer account values associated with adverse financial market conditions during that quarter. In addition, results for the year-ago quarter included a net benefit of $261 million from mark-to-market of embedded derivatives and related hedge positions associated with living benefits, primarily driven by the required adjustment of embedded derivative liabilities for living benefits to recognize market-based non-performance risk associated with our own credit standing. Excluding the effect of the foregoing items, adjusted operating income for the Individual Annuities segment increased $62 million from the year-ago quarter, primarily reflecting higher asset-based fees due to growth in variable annuity account values.

The Retirement segment reported adjusted operating income of $171 million for the current quarter, compared to $159 million in the year-ago quarter. Results for the year-ago quarter benefited $13 million from the required adjustment of liabilities for contract guarantees to recognize market-based non-performance risk. Excluding this item, adjusted operating income of the Retirement segment increased $25 million from the year-ago quarter. The increase resulted primarily from higher fees associated with growth in full service retirement account values and a greater contribution from investment results.

The Asset Management segment reported adjusted operating income of $83 million for the current quarter, compared to a loss of $1 million in the year-ago quarter. Investment results associated with proprietary investing activities contributed income of approximately $5 million in the current quarter compared to losses of approximately $40 million in the year-ago quarter. The remainder of the improvement in results came primarily from increased asset management fees and a greater contribution from performance-based fees.

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The U.S. Individual Life and Group Insurance division reported adjusted operating income of $144 million for the first quarter of 2010, compared to $133 million in the year-ago quarter.

The Individual Life segment reported adjusted operating income of $91 million for the current quarter, compared to $40 million in the year-ago quarter. Current quarter results benefited from lower net amortization of deferred policy acquisition and other costs primarily relating to separate account performance, together with related costs, reflecting unfavorable financial market conditions in the year-ago quarter.

The Group Insurance segment reported adjusted operating income of $53 million in the current quarter, compared to $93 million in the year-ago quarter. Current quarter results reflected less favorable group life claims experience than in the year-ago quarter.

The International Insurance and Investments division reported adjusted operating income of $496 million for the first quarter of 2010, compared to $432 million in the year-ago quarter.

The International Insurance segment reported adjusted operating income of $484 million for the current quarter, an increase of $59 million from the year-ago quarter. Adjusted operating income of the segment’s Life Planner insurance operations increased $33 million, to $327 million for the current quarter from $294 million in the year-ago quarter, primarily reflecting continued business growth and more favorable mortality experience in the current quarter. The segment’s Gibraltar Life operations reported adjusted operating income of $157 million for the current quarter, an increase of $26 million from $131 million in the year-ago quarter. Current quarter results for Gibraltar Life include $6 million from the former Yamato Life business acquired on May 1, 2009. Gibraltar Life’s current quarter results benefited from a lower level of expenses than that of the year-ago quarter and a greater contribution from investment results associated with fixed annuity products primarily denominated in U.S. dollars, reflecting growth in account values. Foreign currency exchange rates, including the impact of the Company’s currency hedging programs, had a favorable impact of $8 million on results for the segment’s international insurance businesses in comparison to the year-ago quarter, including $5 million within Gibraltar Life.

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The International Investments segment reported adjusted operating income of $12 million for the current quarter, compared to $7 million in the year-ago quarter, primarily reflecting improved results from the segment’s global commodities operations.

Corporate and Other operations resulted in a loss, on an adjusted operating income basis, of $202 million in the first quarter of 2010, compared to a loss of $175 million in the year-ago quarter. The current quarter loss was primarily driven by interest expense, net of investment income. Net interest costs increased in comparison to the year-ago quarter, reflecting a greater level of capital debt as well as the negative spread associated with the investment of debt issuance proceeds in cash and short-term investments. Current quarter results also reflect higher expenses, including the impact of certain liabilities that are affected by changes in equity and other markets. The Company’s real estate and relocation business reported a reduced loss in comparison to the year-ago quarter, with losses amounting to $7 million in the current quarter and $63 million in the year-ago quarter, reflecting more favorable residential real estate market conditions and lower expenses.

Assets under management amounted to $693 billion at March 31, 2010, compared to $542 billion a year earlier and $667 billion at December 31, 2009.

Net income of the Financial Services Businesses attributable to Prudential Financial, Inc. amounted to $536 million for the first quarter of 2010, compared to a net loss of $5 million in the year-ago quarter.

Current quarter net income includes $84 million of pre-tax net realized investment losses and related charges and adjustments. Net realized investment losses in the current quarter reflect $292 million of losses from impairments and sales of credit-impaired investments. The losses from impairments and sales of credit-impaired investments relate primarily to the Company’s Japanese insurance operations, including $169 million for fixed maturities and $60 million for equity securities within those operations. The remainder of current quarter impairments relate principally to asset backed securities collateralized by sub-prime mortgages. The losses from impairments and

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sales of credit-impaired investments were partially offset by $182 million of net increases in market value of derivatives, primarily related to the Company’s investment duration management and hedging programs driven by changes in interest rates.

At March 31, 2010, gross unrealized losses on general account fixed maturity investments of the Financial Services Businesses amounted to $3.702 billion, including $2.628 billion on high and highest quality securities based on NAIC or equivalent ratings. Gross unrealized losses include $1.250 billion related to asset-backed securities collateralized by sub-prime mortgages. Gross unrealized losses on general account fixed maturity investments of the Financial Services Businesses at March 31, 2010 include $1.991 billion of declines in value of 20% or more of amortized cost. Gross unrealized losses on general account fixed maturity investments of the Financial Services Businesses amounted to $4.389 billion at December 31, 2009. Net unrealized gains on general account fixed maturity investments of the Financial Services Businesses amounted to $2.429 billion at March 31, 2010, compared to $998 million at December 31, 2009.

Net income for the current quarter also reflects pre-tax increases of $252 million in recorded asset values and $320 million in recorded liabilities representing changes in value which are expected to ultimately accrue to contractholders. These changes primarily represent interest rate related mark-to-market adjustments. Net income for the current quarter also includes $7 million of pre-tax losses from divested businesses.

Net income of the Financial Services Businesses for the year-ago quarter included $663 million of pre-tax net realized investment losses and related charges and adjustments, increases of $145 million in recorded assets and $45 million in recorded liabilities for which changes in value are expected to ultimately accrue to contractholders, and a loss of $32 million from divested businesses, in each case before income taxes.

Closed Block Business

Prudential’s Class B Stock, which is not traded on any exchange, reflects the performance of its Closed Block Business.

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The Closed Block Business includes our in-force participating life insurance and annuity policies, and assets that are being used for the payment of benefits and policyholder dividends on these policies, as well as other assets and equity that support these policies. We have ceased offering these participating policies.

The Closed Block Business reported income from continuing operations before income taxes of $259 million for the first quarter of 2010, compared to $30 million for the year-ago quarter. Current quarter results include pre-tax net realized investment gains of $274 million, primarily from net increases in market value of derivatives used in investment management duration and hedging programs. The Closed Block Business reported net income attributable to Prudential Financial, Inc. of $161 million for the first quarter of 2010 and $19 million for the year-ago quarter.

Consolidated Results

There is no legal separation of the Financial Services Businesses and the Closed Block Business, and holders of the Common Stock and the Class B Stock are both common stockholders of Prudential Financial, Inc.

On a consolidated basis, which includes the results of both the Financial Services Businesses and the Closed Block Business, Prudential Financial, Inc. reported net income attributable to Prudential Financial, Inc. of $697 million for the first quarter of 2010 compared to $14 million for the year-ago quarter.

Forward-Looking Statements and Non-GAAP Measures

Certain of the statements included in this release constitute forward-looking statements within the meaning of the U. S. Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “includes,” “plans,” “assumes,” “estimates,” “projects,” “intends,” “should,” “will,” “shall,” or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Prudential

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Financial, Inc. and its subsidiaries. There can be no assurance that future developments affecting Prudential Financial, Inc. and its subsidiaries will be those anticipated by management. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements, including, among others: (1) general economic, market and political conditions, including the performance and fluctuations of fixed income, equity, real estate and other financial markets; (2) the availability and cost of external financing for our operations, which has been affected by the stress experienced by the global financial markets; (3) interest rate fluctuations; (4) reestimates of our reserves for future policy benefits and claims; (5) differences between actual experience regarding mortality, morbidity, persistency, surrender experience, interest rates or market returns and the assumptions we use in pricing our products, establishing liabilities and reserves or for other purposes; (6) changes in our assumptions related to deferred policy acquisition costs, valuation of business acquired or goodwill; (7) changes in our claims-paying or credit ratings; (8) investment losses, defaults and counterparty non-performance; (9) competition in our product lines and for personnel; (10) changes in tax law; (11) economic, political, currency and other risks relating to our international operations; (12) fluctuations in foreign currency exchange rates and foreign securities markets; (13) regulatory or legislative changes, including government actions in response to the stress experienced by the global financial markets; (14) adverse determinations in litigation or regulatory matters and our exposure to contingent liabilities, including in connection with our divestiture or winding down of businesses; (15) domestic or international military actions, natural or man-made disasters including terrorist activities or pandemic disease, or other events resulting in catastrophic loss of life; (16) ineffectiveness of risk management policies and procedures in identifying, monitoring and managing risks; (17) effects of acquisitions, divestitures and restructurings, including possible difficulties in integrating and realizing the projected results of acquisitions; (18) changes in statutory or U.S. GAAP accounting principles, practices or policies; (19) changes in assumptions for retirement expense; (20) Prudential Financial, Inc.’s primary reliance, as a holding company, on dividends or distributions from its subsidiaries to meet debt payment obligations and the ability of the subsidiaries to pay such dividends or distributions in

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light of our ratings objectives and/or applicable regulatory restrictions; and (21) risks due to the lack of legal separation between our Financial Services Businesses and our Closed Block Business. The foregoing risks are even more pronounced in severe adverse market and economic conditions such as those that began in the second half of 2007 and continued into 2009. Prudential Financial, Inc. does not intend, and is under no obligation, to update any particular forward-looking statement included in this document.

Adjusted operating income is a non-GAAP measure of performance of our Financial Services Businesses. Adjusted operating income excludes “Realized investment gains (losses), net,” as adjusted, and related charges and adjustments. A significant element of realized investment gains and losses are impairments and credit-related and interest rate-related gains and losses. Impairments and losses from sales of credit-impaired securities, the timing of which depends largely on market credit cycles, can vary considerably across periods. The timing of other sales that would result in gains or losses, such as interest rate-related gains or losses, is largely subject to our discretion and influenced by market opportunities as well as our tax and capital profile.

Realized investment gains (losses) within certain of our businesses for which such gains (losses) are a principal source of earnings, and those associated with terminating hedges of foreign currency earnings and current period yield adjustments are included in adjusted operating income. Realized investment gains and losses from products that are free standing derivatives or contain embedded derivatives, and from associated derivative portfolios that are part of an economic hedging program related to the risk of those products, are included in adjusted operating income. Adjusted operating income excludes gains and losses from changes in value of certain assets and liabilities related to foreign currency exchange movements that have been economically hedged, as well as gains and losses on certain investments that are classified as other trading account assets and debt that is carried at fair value.

Adjusted operating income also excludes investment gains and losses on trading account assets supporting insurance liabilities and changes in experience-rated contractholder liabilities due to asset value changes, because these recorded changes in asset and liability values are expected to ultimately accrue to contractholders. Trends in the underlying profitability of our businesses can be more clearly identified without the fluctuating effects of these transactions. In addition, adjusted

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operating income excludes the results of divested businesses, which are not relevant to our ongoing operations. Discontinued operations, which is presented as a separate component of net income under GAAP, is also excluded from adjusted operating income.

We believe that the presentation of adjusted operating income as we measure it for management purposes enhances understanding of the results of operations of the Financial Services Businesses by highlighting the results from ongoing operations and the underlying profitability of our businesses. However, adjusted operating income is not a substitute for income determined in accordance with GAAP, and the adjustments made to derive adjusted operating income are important to an understanding of our overall results of operations. The schedules accompanying this release provide a reconciliation of adjusted operating income for the Financial Services Businesses to income from continuing operations in accordance with GAAP.

The information referred to above, as well as the risks of our businesses described in our Annual Report on Form 10-K for the year ended December 31, 2009, should be considered by readers when reviewing forward-looking statements contained in this release. Additional historical information relating to our financial performance is located on our Web site at www.investor.prudential.com.

Earnings Conference Call

Members of Prudential’s senior management will host a conference call on Thursday, May 6, 2010 at 11 a.m. ET, to discuss with the investment community the Company’s first quarter results. The conference call will be broadcast live over the Company’s Investor Relations Web site at: www.investor.prudential.com. Please log on fifteen minutes early in the event necessary software needs to be downloaded. The call will remain on the Investor Relations Web site for replay through May 21. Institutional investors, analysts, and other members of the professional financial community are invited to listen to the call and participate in Q&A by dialing (877) 777-1971 (domestic callers) or (612) 332-0226 (international callers). All others are encouraged to dial into the conference call in listen-only mode, using the same numbers. To listen to a replay of the

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conference call starting at 2:00 p.m. on May 6, through May 13, dial (800) 475-6701 (domestic callers) or (320) 365-3844 (international callers). The access code for the replay is 144583.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $693 billion of assets under management as of March 31, 2010, 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 www.news.prudential.com.

Financial Highlights

(in millions, except per share data, unaudited)

	Three Months Ended March 31
	2010			2009
Financial Services Businesses Income Statement Data:
Adjusted Operating Income (1):
Revenues:
Premiums	$	3,531		$	3,261
Policy charges and fee income		860			734
Net investment income		2,075			2,058
Asset management fees, commissions and other income		889			1,914
Total revenues		7,355			7,967
Benefits and expenses:
Insurance and annuity benefits		3,431			3,464
Interest credited to policyholders’ account balances		883			1,086
Interest expense		251			247
Other expenses		1,838			2,605
Total benefits and expenses		6,403			7,402
Adjusted operating income before income taxes		952			565
Income taxes, applicable to adjusted operating income		253			138
Financial Services Businesses after-tax adjusted operating income (1)		699			427
Reconciling Items:
Realized investment losses, net, and related charges and adjustments		(84	)		(663	)
Investment gains on trading account assets supporting insurance liabilities, net		252			145
Change in experience-rated contractholder liabilities due to asset value changes		(320	)		(45	)
Divested businesses		(7	)		(32	)
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests		(36	)		3
Total reconciling items, before income taxes		(195	)		(592	)
Income taxes, not applicable to adjusted operating income		2			(151	)
Total reconciling items, after income taxes		(197	)		(441	)
Income (loss) from continuing operations (after-tax) of Financial Services Businesses before equity in earnings of operating joint ventures		502			(14	)
Equity in earnings of operating joint ventures, net of taxes and earnings attributable to noncontrolling interests		36			5
Income (loss) from continuing operations attributable to Prudential Financial, Inc.		538			(9	)
Earnings attributable to noncontrolling interests		(26	)		(11	)
Income (loss) from continuing operations (after-tax) of Financial Services Businesses		512			(20	)
Income (loss) from discontinued operations, net of taxes		(2	)		4
Net income (loss) of Financial Services Businesses		510			(16	)
Less: Loss attributable to noncontrolling interests		(26	)		(11	)
Net income (loss) of Financial Services Businesses attributable to Prudential Financial, Inc.	$	536		$	(5	)

See footnotes on last page.

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Financial Highlights

(in millions, except per share data, unaudited)

	Three Months Ended March 31
	2010			2009
Earnings per share of Common Stock (diluted) (2):
Financial Services Businesses after-tax adjusted operating income	$	1.49		$	1.03
Reconciling Items:
Realized investment losses, net, and related charges and adjustments		(0.18	)		(1.57	)
Investment gains on trading account assets supporting insurance liabilities, net		0.53			0.34
Change in experience-rated contractholder liabilities due to asset value changes		(0.68	)		(0.11	)
Divested businesses		(0.01	)		(0.08	)
Difference in earnings allocated to participating unvested share-based payment awards		—			0.01
Total reconciling items, before income taxes		(0.34	)		(1.41	)
Income taxes, not applicable to adjusted operating income		(0.01	)		(0.38	)
Total reconciling items, after income taxes		(0.33	)		(1.03	)
Income from continuing operations (after-tax) of Financial Services Businesses attributable to Prudential Financial, Inc.		1.16			—
Income (loss) from discontinued operations, net of taxes		(0.01	)		0.01
Net income of Financial Services Businesses attributable to Prudential Financial, Inc.	$	1.15		$	0.01
Weighted average number of outstanding Common shares (basic)		463.0			422.1
Weighted average number of outstanding Common shares (diluted)		471.5			423.2
Direct equity adjustment for earnings per share calculation (2)	$	10		$	11
Earnings related to interest, net of tax, on exchangeable surplus notes	$	4		$	—
Earnings allocated to participating unvested share-based payment awards for earnings per share calculation
Financial Services Businesses after-tax adjusted operating income	$	9		$	4
Income from continuing operations (after-tax) of Financial Services Businesses	$	7		$	—
Financial Services Businesses Attributed Equity (as of end of period):
Total attributed equity	$	25,721		$	14,349
Per share of Common Stock - diluted		54.63			33.83
Attributed equity excluding accumulated other comprehensive income related to unrealized gains and losses on investments and pension/postretirement benefits	$	25,961		$	20,337
Per share of Common Stock - diluted		55.14			47.95
Number of diluted shares at end of period		470.8			424.1
Adjusted operating income before income taxes, by Segment (1):
Individual Annuities	$	260		$	17
Retirement		171			159
Asset Management		83			(1	)
Total U.S. Retirement Solutions and Investment Management Division		514			175
Individual Life		91			40
Group Insurance		53			93
Total U.S. Individual Life and Group Insurance Division		144			133
International Insurance		484			425
International Investments		12			7
Total International Insurance and Investments Division		496			432
Corporate and Other operations		(202	)		(175	)
Financial Services Businesses adjusted operating income before income taxes		952			565
Reconciling Items:
Realized investment losses, net, and related charges and adjustments		(84	)		(663	)
Investment gains on trading account assets supporting insurance liabilities, net		252			145
Change in experience-rated contractholder liabilities due to asset value changes		(320	)		(45	)
Divested businesses		(7	)		(32	)
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests		(36	)		3
Total reconciling items, before income taxes		(195	)		(592	)
Income (loss) from continuing operations before income taxes and equity in earnings of operating joint ventures - Financial Services Businesses	$	757		$	(27	)

See footnotes on last page.

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Financial Highlights

(in millions, except per share data or as otherwise noted, unaudited)

	Three Months Ended March 31
	2010			2009
U.S. Retirement Solutions and Investment Management Division:
Fixed and Variable Annuity Sales and Account Values:
Gross sales	$	4,897		$	2,163
Net sales	$	3,179		$	643
Total account value at end of period	$	89,118		$	61,205
Retirement Segment:
Full Service:
Deposits and sales	$	5,605		$	10,489
Net additions	$	1,105		$	6,258
Total account value at end of period	$	131,147		$	102,159
Institutional Investment Products:
Gross additions	$	1,876		$	627
Net withdrawals	$	(263	)	$	(1,410	)
Total account value at end of period	$	52,768		$	49,030
Asset Management Segment:
Assets managed by Investment Management and Advisory Services (in billions, as of end of period):
Institutional customers	$	193.3		$	152.7
Retail customers		89.0			61.3
General account		189.8			172.3
Total Investment Management and Advisory Services	$	472.1		$	386.3
Institutional Assets Under Management (in billions):
Gross additions, other than money market	$	7.2		$	4.9
Net additions, other than money market	$	1.5		$	0.3
Retail Assets Under Management (in billions):
Gross additions, other than money market	$	4.8		$	3.5
Net additions, other than money market	$	1.1		$	0.2
U.S. Individual Life and Group Insurance Division:
Individual Life Insurance Annualized New Business Premiums (3):
Variable life	$	5		$	4
Universal life		20			28
Term life		43			52
Total	$	68		$	84
Group Insurance Annualized New Business Premiums (3):
Group life	$	257		$	210
Group disability		89			134
Total	$	346		$	344
International Insurance and Investments Division:
International Insurance Annualized New Business Premiums (3) (4):
Actual exchange rate basis	$	411		$	333
Constant exchange rate basis:	$	396		$	337

See footnotes on last page.

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Financial Highlights

(in millions, except per share data or as otherwise noted, unaudited)

	Three Months Ended March 31
	2010			2009
Closed Block Business Data:
Income Statement Data:
Revenues	$	1,792		$	1,140
Benefits and expenses		1,533			1,110
Income from continuing operations before income taxes		259			30
Income taxes		98			11
Closed Block Business income from continuing operations		161			19
Income from discontinued operations, net of taxes		—			—
Closed Block Business net income		161			19
Less: Income attributable to noncontrolling interests		—			—
Closed Block Business net income attributable to Prudential Financial, Inc.	$	161		$	19
Direct equity adjustment for earnings per share calculation (2)		(10	)		(11	)
Earnings available to holders of Class B Stock after direct equity adjustment - based on net income	$	151		$	8
Income from continuing operations per share of Class B Stock	$	75.50		$	4.00
Income from discontinued operations, net of taxes per share of Class B Stock		—			—
Net income per share of Class B Stock	$	75.50		$	4.00
Weighted average diluted shares outstanding during period		2.0			2.0
Closed Block Business Attributed Equity (as of end of period):
Total attributed equity	$	1,279		$	(1,419	)
Per Share of Class B Stock		639.50			(709.50	)
Attributed equity excluding accumulated other comprehensive income related to unrealized gains and losses on investments and pension/postretirement benefits	$	1,058		$	1,267
Per Share of Class B Stock		529.00			633.50
Number of Class B Shares at end of period		2.0			2.0
Consolidated Data:
Consolidated Income Statement Data:
Revenues	$	9,292		$	8,525
Benefits and expenses		8,276			8,522
Income from continuing operations before income taxes and equity in earnings of operating joint ventures		1,016			3
Income tax expense (benefit)		353			(2	)
Income from continuing operations before equity in earnings of operating joint ventures		663			5
Equity in earnings of operating joint ventures, net of taxes		10			(6	)
Income (loss) from continuing operations		673			(1	)
Income (loss) from discontinued operations, net of taxes		(2	)		4
Consolidated net income		671			3
Less: Loss attributable to noncontrolling interests		(26	)		(11	)
Net income attributable to Prudential Financial, Inc.	$	697		$	14
Net income (loss) attributable to Prudential Financial, Inc.:
Financial Services Businesses	$	536		$	(5	)
Closed Block Business		161			19
Consolidated net income attributable to Prudential Financial, Inc.	$	697		$	14
Assets and Asset Management Information (in billions, as of end of period)
Total assets	$	491.9		$	427.5
Assets under management (at fair market value):
Managed by U.S. Retirement Solutions and Investment Management Division:
Asset Management Segment - Investment Management and Advisory Services	$	472.1		$	386.3
Non-proprietary assets under management		126.8			75.1
Total managed by U.S. Retirement Solutions and Investment Management Division		598.9			461.4
Managed by U.S. Individual Life and Group Insurance Division		13.1			11.9
Managed by International Insurance and Investments Division		81.3			68.4
Total assets under management		693.3			541.7
Client assets under administration		99.9			98.8
Total assets under management and administration	$	793.2		$	640.5

See footnotes on last page.

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(1) Adjusted operating income is a non-GAAP measure of performance of our Financial Services Businesses that excludes “Realized investment gains (losses), net”, as adjusted, and related charges and adjustments; net investment gains and losses on trading account assets supporting insurance liabilities; change in experience-rated contractholder liabilities due to asset value changes; results of divested businesses and discontinued operations; earnings attributable to noncontrolling interests; and the related tax effects thereof. Adjusted operating income includes equity in earnings of operating joint ventures and the related tax effects thereof. Revenues and benefits and expenses shown as components of adjusted operating income, are presented on the same basis as pre-tax adjusted operating income and are adjusted for the items above as well.

Realized investment gains (losses) within certain of our businesses for which such gains (losses) are a principal source of earnings, and those associated with terminating hedges of foreign currency earnings and current period yield adjustments are included in adjusted operating income. Realized investment gains and losses from products that are free standing derivatives or contain embedded derivatives, and from associated derivative portfolios that are part of an economic hedging program related to the risk of those products, are included in adjusted operating income. Adjusted operating income excludes gains and losses from changes in value of certain assets and liabilities relating to foreign currency exchange movements that have been economically hedged, as well as gains and losses on certain investments that are classified as other trading account assets and debt that is carried at fair value.

Adjusted operating income does not equate to “Income from continuing operations” as determined in accordance with GAAP but is the measure of profit or loss we use to evaluate segment performance. Adjusted operating income is not a substitute for income determined in accordance with GAAP, and our definition of adjusted operating income may differ from that used by other companies. The items above are important to an understanding of our overall results of operations. However, we believe that the presentation of adjusted operating income as we measure it for management purposes enhances the understanding of our results of operations by highlighting the results from ongoing operations and the underlying profitability factors of our businesses.

(2) Net income for the Financial Services Businesses and the Closed Block Business is determined in accordance with GAAP and includes general and administrative expenses charged to each of the businesses based on the Company’s methodology for allocation of such expenses. Cash flows between the Financial Services Businesses and the Closed Block Business related to administrative expenses are determined by a policy servicing fee arrangement that is based upon insurance and policies in force and statutory cash premiums. To the extent reported administrative expenses vary from these cash flow amounts, the differences are recorded, on an after-tax basis, as direct equity adjustments to the equity balances of each business. The direct equity adjustments modify earnings available to holders of Common Stock and Class B Stock for earnings per share purposes. Earnings per share of Common Stock based on adjusted operating income of the Financial Services Businesses reflects these adjustments as well.

(3) Premiums from new sales that are expected to be collected over a one year period. Group insurance annualized new business premiums exclude new premiums resulting from rate changes on existing policies, from additional coverage issued under our Servicemembers’ Group Life Insurance contract, and from excess premiums on group universal life insurance that build cash value but do not purchase face amounts. Group insurance annualized new business premiums include premiums from the takeover of claim liabilities. Group disability amounts include long-term care products. Excess (unscheduled) and single premium business for the company’s domestic individual life and international insurance operations are included in annualized new business premiums based on a 10% credit.

(4) Actual amounts reflect the impact of currency fluctuations. Foreign denominated activity translated to U.S. dollars at uniform exchange rates for all periods presented, including Japanese yen 99 per U.S. dollar; Korean won 1040 per U.S. dollar. U.S. denominated activity is included based on the amounts as transacted in U.S. dollars.

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