Prudential Financial, Bank Simpanan Nasional to Acquire Uni.Asia Life Assurance Berhad

Prudential Financial, Inc.

, which does business as Pramerica in selected countries outside the U.S., and Bank Simpanan Nasional (“BSN”) today announced they have reached agreement for Prudential's U.S.… Prudential Financial, Inc., which does business as Pramerica in selected countries outside the U.S., and Bank Simpanan Nasional (“BSN”) today announced they have reached agreement for Prudential's U.S. insurance company, The Prudential Insurance Company of America (“PICA”), and BSN to purchase 100 percent of Uni.Asia Life Assurance Berhad's (“UAL”) issued and paid-up ordinary share capital (“UAL Shares”) from Uni.Asia Capital Sdn Bhd (“UAC”). UAC is a joint venture company 51 percent and 49 percent owned by DRB-HICOM Berhad's wholly owned subsidiary Gadek (Malaysia) Berhad and United Overseas Bank (Malaysia) Bhd, respectively. PICA and BSN have submitted a request for approval of the proposed transaction to Bank Negara Malaysia, the life insurance regulator in Malaysia. Under the proposed transaction