Prudential P/C Grp. Under Review

The financial strength rating of “A-” (Excellent) of Prudential Property and Casualty Group and its separately rated subsidiary, THI Holdings Group (Cleveland, Ohio), are under review by A.M. Best, with negative implications. The under review status reflects A.M. Best’s concerns with the continued sub-par operating performance and stand-alone capitalization of Prudential Property and Casualty Group, despite improvement in accident-year 2002 performance. In addition, it reflects continued concerns for the long-term strategic fit for property and casualty companies in Prudential Financial.