Released on: June 30, 2008, 11:33 pm

Press Release Author: amenda dorothy

Industry: Financial

Press Release Summary: The policyholders of Prudential are expecting a letter
stating that they are not entitled to a £9bn \'inherited estate\' locked up in the
insurer\'s with-profits fund. This led to a fall in share prices of the company on
Friday.

Press Release Body: London (Ask4loan) June 30, 2008: Almost four million
policyholders of Prudential will be informed by a letter stating that they should
not expect any types of cash payments out of a proposed carve-up of the £9bn
\'inherited estate\' locked up in the insurer\'s with-profits fund.

As per the estimates, the potential windfalls were expected to be in the range of
£600 and £1,200 per policyholder. This blow for the policyholders follows dithering
on the part of the advisers and insurers. It is estimated that the total wealth of
Prudential\'s with-profits fund is close to a massive £80bn. Out of this £80bn, the
\'inherited estate\' of £9bn is not required to be paid immediately as bonuses to the
savers. The chief executive of Prudential, Nick Prettejohn, conveyed that the estate
will be used for the business\'s purposes. But since the policyholders have a claim
to 90 percent of the profits derived from cash, Prudential would be required to but
the rights of policyholders by offering windfalls.

As per Prettejohn, the money will be used as an \"extra reserve\" and the news
immediately led to a fall in the company\'s share prices. The Financial Services
Authority is assumed to take the charge to carry an independent and rigorous review
of the company\'s inherited estate and make distribution amounting to 90 percent to
the policyholders.

For additional information on the news that is the subject of this release (or for a
sample, copy or demo), contact Webmaster or visit http://www.ask4loan.co.uk

Web Site: http://www.ask4loan.co.uk

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