NEWARK, N.J. -- (BUSINESS WIRE) --

Prudential Financial, Inc. announced today that its subsidiary, Gibraltar Life, has signed a definitive agreement to serve as reorganization sponsor for Yamato Life, a small life insurance company in Japan that declared bankruptcy in October 2008.

The agreement provides for Yamato to be acquired by Gibraltar without purchase price consideration. It is expected that Yamato will become a wholly owned subsidiary of Gibraltar Life and that Gibraltar Life will contribute capital, from its general account assets to Yamato in connection with the acquisition. The amount of the capital contribution is not expected to be material.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $558 billion assets under management as of December 31, 2008, 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 approximately 50 million individual and institutional customers grow and protect their wealth. The company's well-known 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 http://www.news.prudential.com/.

CONTACT:
Prudential Financial, Inc.
Bob DeFillippo, 973-802-4149
201-317-1662 (Mobile)