Prudential Investment Management Names Scott Hayward CEO of Quantitative Management

Hayward's new role was created to support QMA's rapidly increasingbusiness activity. This allows Margaret Stumpp, who remains thecompany's chief investment officer, and QMA's investment professionalsto focus exclusively on portfolio management and client relationships.

Year-to-date, QMA has won 21 new mandates for $3.9 billion.Additionally, Prudential was ranked ninth among managers of enhanceddomestic indexed equity in Pensions & Investments 2005 Money Manager'sDirectory, based on $5.7 billion in U.S. institutional, tax-exemptassets at year-end 2004, primarily managed by QMA.

"Over the last year, QMA has expanded its investment strategies tobetter serve an increasingly sophisticated client base," said BernardWinograd, president and CEO of PIM. "Scott's leadership in lifting theday-to-day business tasks from our investment professionals enablesthem to focus on leading the effort to provide the highest qualityinvestment solution for clients."

QMA has more than 140 clients relationships with an averageaccount size of $68 million. It manages assets for institutional andretail clients.

Hayward joined Prudential in 2003 to lead all marketing, sales andclient service activities for PIM's public equity businesses, whichinclude QMA and Jennison Associates LLC. Hayward reports to DennisKass, head of public equity for PIM.

Before joining Prudential Investment Management, Hayward was amanaging director at J.P. Morgan Fleming Asset Management, responsiblefor leading several strategic initiatives, which included developing aretail asset management strategy and an IRA rollover initiative. Healso was head of Americas Institutional Client Service and Marketing,where he led the implementation of enhanced client acquisition andservice models. Earlier, Hayward was vice president and chiefoperating officer for investment banking-Americas for J.P. Morgan andCo., responsible for the strategy and management of the investmentbanking technology and client support functions.

Hayward earned a bachelor of science degree in political sciencefrom Boston College.

Quantitative Management Associates combines analytical disciplineand seasoned judgment to deliver customized investment solutionsglobally for corporations, public pension plans, mutual funds,foundations and endowments, and multi-employer pension plans. QMA had$46 billion in assets under management as of June 30, 2005. For moreinformation, visit www.qmassociates.com.

Prudential Financial companies, with approximately $511 billion intotal assets under management as of June 30, 2005, serve individualand institutional customers worldwide and include The PrudentialInsurance Company of America, one of the largest life insurancecompanies in the United States. These companies offer a variety ofproducts and services, including life insurance, mutual funds,annuities, pension and retirement related services and administration,asset management, securities brokerage, banking and trust services,real estate brokerage franchises and relocation services. For moreinformation, visit www.prudential.com.