January 22, 2018

NEWARK, N.J., Jan 22, 2018 – Stephen M. Chipman has been named an independent director for Prudential’s Insurance Funds board of trustees. The Prudential Insurance Funds have approximately $179 billion in assets in over 107 mutual funds across its annuities and insurance businesses.

"We are pleased to welcome Stephen to our board. His extensive experience and valuable insights will further strengthen our bench of trustees and enhance value for shareholders," said Timothy Cronin, Vice President and CIO for Prudential Annuities,

Chipman is CEO of Radius, a technology enabled global services company which provides comprehensive solutions for businesses expanding into international markets.  Before joining Radius, Stephen capped his 34-year career with Grant Thornton LLP as CEO in the U.S. where he led the $1.5 billion firm through the post financial crisis period, returning it to double-digit increases in revenue and profitability. Prior to this role, Chipman was CEO of Grant Thornton in China where he led the development of a national firm with more than 2,500 people in 17 offices. A U.S. and British citizen, Stephen is a certified public accountant in Illinois and Texas as well as a chartered accountant in England and Wales. He is based in Boston, MA.

Prudential’s Insurance Funds include the Advanced Series Trust (AST), the Prudential Series Fund (PSF) and Prudential’s Gibraltar Fund (GIB), which are offered in annuity and life insurance products, including in Prudential’s proprietary businesses. The Prudential Insurance Funds include mutual funds across a diversified investment platform of fixed income, equities, asset allocation and alternative fund offerings primarily managed by affiliated and non-affiliated subadvisors.

“We are pleased to have Mr. Chipman join our board of directors after a robust search process. He will add to the expertise of the existing board that will prove invaluable in our governance of the Prudential Insurance Funds,” said, Board Chairman, Thomas Mooney.

About Prudential Financial, Inc.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader, 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 and investment management. 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 news.prudential.com.

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Investors should consider the features of the contract and the underlying portfolios’ investment objectives, policies, management, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectus, which can be obtained from your financial professional. Please read the prospectus carefully before investing.

Annuity contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force. Your licensed financial professional can provide you with complete details.

Annuities are issued by Pruco Life Insurance Company (in New York, by Pruco Life Insurance Company of New Jersey), Newark, NJ (main office) and distributed by Prudential Annuities Distributors, Inc., Shelton, CT. All are Prudential Financial companies and each is solely responsible for its own financial condition and contractual obligations. Prudential Annuities is a business of Prudential Financial, Inc.

A variable annuity is a long-term investment designed for retirement purposes. Investment returns and the principal value of an investment will fluctuate so that an investor’s units, when redeemed, may be worth more or less than the original investment. Annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial professional can provide you with complete details.

These materials are for informational or educational purposes only. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings.  In providing these materials, the issuing companies and distributor listed above are not acting as your fiduciary as defined by any applicable laws and regulations.

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