Prudential Real Estate Investors Acquires 1180 Avenue of the Americas,

    Business Editors

    ATLANTA--(BUSINESS WIRE)--Feb. 15, 2005--Prudential Real Estate Investors announced today that TMW Property Funds (USA), its Atlanta-based property funds management business, has acquired 1180 Avenue of the Americas in New York City on behalf of its investors. PREI is the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE: PRU).
    The 327,043 square foot, Class "A" office building is located along Avenue of the Americas' prestigious "Corporate Row" in the heart of Midtown. The 23-story tower is 94% leased to a diverse tenant roster that includes media giant Scripps Broadcasting, Horizon Blue Cross & Blue Shield of New Jersey, and Rockefeller Group Business Centers.
    Terms of the recently closed transaction were not disclosed. King & Spaulding, LLP was the law firm representing TMW Property Funds (USA).
    PREI provides global real estate investment management services in the United States, Europe, Asia and Latin America. PREI managed total assets of $23.2 billion on behalf of more than 350 clients as of December 31, 2004; net assets under management (i.e., after deduction of associated debt and liabilities) were $16.3 billion. For more information, visit www.prei.com.
    Prudential Financial companies, with approximately $500 billion in total assets under management as of December 31, 2004, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products 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 more information, visit www.prudential.com.

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CONTACT: Prudential Financial Theresa Miller, 973/802-7455

KEYWORD: GEORGIA NEW YORK NEW JERSEY INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION MERGERS/ACQ SOURCE: Prudential Real Estate Investors

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