PREI-Latin America Joins IGS to Expand Presence in Mexican Industrial Markets

Prudential Real Estate Investors (PREI®) announced today that it has entered into a strategic alliance with Industrial Global Solutions de México, S.A. de C.V., one the foremost developers and managers of industrial properties in Mexico, to develop and acquire high-quality industrial facilities throughout Mexico. Prudential Real Estate Investors is the real estate investment and advisory business of Prudential Financial, Inc. (NYSE:PRU). The new joint venture continues to expand PREI’s presence in Mexico while building on its strategy to collaborate with leading developers in the country. "IGS’s partnership enables us to continue to extend our reach into Mexico’s industrial and retail markets, particularly in key states such as Tijuana and Guadalajara,” said Roberto Ordorica, PREI managing director and CEO of PREI-Latin America. "IGS has a wide market spectrum, making us confident that the new joint venture will provide our investment programs with a strong presence in key markets,” said Ordorica. Antonio Ruiz Galindo, president of Industrial Global Solutions said, "After IGS acquired the industrial portfolio three years ago, we decided to create a Joint Venture with Prudential, who’s interest is to continue investing in the Mexican real estate market — not only the present but the future of this country — we are certain that this market will keep attracting foreign direct investment. Prudential has a commitment to this country to continue its development and growth, and this Joint Venture will help us achieve that.” "IGS has a portfolio of high quality industrial assets in strong markets,” said Pablo Barcos, Portfolio Manager of PREI’s Industrial Fund. "I am confident this joint venture will strengthen our real estate portfolio and serve a good long-term partnership for PREI. IGS’s portfolio’s geographic diversity and solid tenant base makes it a terrific complement to PREI’s current industrial real estate holdings.” Lachlan Elting, Commercial Director of Industrial Global Solutions said, "About 14 years ago when I first began in real estate in Mexico, Roberto and I often traded market information. Back then, reliable information in the Mexican real estate market was truly a precious commodity! When the opportunity arose to join forces with Roberto and the Prudential team it was an easy choice. IGS's joint venture with Prudential in the industrial and retail sectors is founded on both our companies' strong and extended commitment to the Mexican market." The partnership with Industrial Global Solutions adds to the growing list of PREI’s successful real estate investment activities in Latin America. Industrial Global Solutions is a leading Real Estate Services Company specialized in leasing industrial and office buildings throughout Mexico. It provides real estate solutions that meet their clients’ needs and exceed their expectations. IGS’s combination of over 30 years of direct Mexico based market experience; consistent and timely service; its reputation for quality within the real estate and business community; as well as the caliber of their professional team allow IGS the competitive advantages necessary to provide its clients with the level of service they require in Mexico. For more information, visit www.igs.com.mx. PREI’s specialized operating units offer a broad range of investment opportunities and investment management services in the United States, Europe, Asia, and Latin America. The company's fund management operations, located in Parsippany, N.J.; Atlanta, Ga.; Munich, London, Mexico City and Singapore, are supported by a network of local offices throughout the world. As of December 31, 2006, PREI managed $35.8 billion of gross assets ($26.2 billion net) on behalf of more than 300 clients and is ranked among the largest real estate investment managers. For more information, visit www.prei.com. Prudential Financial, Inc. (NYSE:PRU), a financial services leader with approximately $616 billion of assets under management as of December 31, 2006, 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 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, asset management, and real estate services. For more information, please visit www.prudential.com.