1st May 2007 10:59
Prudential PLC01 May 2007 For immediate release Tuesday 1 May 2007 SALE OF EGG BANKING PLC - COMPLETION Prudential plc ("Prudential") announces that it has completed the sale of EggBanking plc ("Egg") to Citi. Taking account of movement in net asset value between 31 December 2006 andcompletion, the consideration receivable by Prudential is expected to be £546million in cash, subject to finalisation of the completion accounts. ENDS Enquiries: Media Investors/AnalystsJon Bunn 020 7548 3559 James Matthews 020 7548 3561Carole Butcher 020 7548 3719 Valerie Pariente 020 7548 3511 Notes to Editor: *Prudential plc is a company incorporated and with its principal place ofbusiness in England, and its affiliated companies constitute one of the world'sleading financial services groups. It provides insurance and financial servicesdirectly and through its subsidiaries and affiliates throughout the world. Ithas been in existence for over 150 years and has £250.7 billion in assets undermanagement as at 31 December 2006. Prudential plc is not affiliated in anymanner with Prudential Financial, Inc, a company whose principal place ofbusiness is in the United States of America. Forward-Looking Statements This statement may contain certain "forward-looking statements" with respect tocertain of Prudential's plans and its current goals and expectations relating toits future financial condition, performance, results, strategy and objectives.Statements containing the words "believes", "intends", "expects", "plans","seeks" and "anticipates", and words of similar meaning, are forward-looking. Bytheir nature, all forward-looking statements involve risk and uncertaintybecause they relate to future events and circumstances which are beyondPrudential's control including among other things, UK domestic and globaleconomic and business conditions, market related risks such as fluctuations ininterest rates and exchange rates, and the performance of financial marketsgenerally; the policies and actions of regulatory authorities, the impact ofcompetition, inflation, and deflation; experience in particular with regard tomortality and morbidity trends, lapse rates and policy renewal rates; thetiming, impact and other uncertainties of future acquisitions or combinationswithin relevant industries; and the impact of changes in capital, solvency oraccounting standards, and tax and other legislation and regulations in thejurisdictions in which Prudential and its affiliates operate. This may forexample result in changes to assumptions used for determining results ofoperations or re-estimations of reserves for future policy benefits. As aresult, Prudential's actual future financial condition, performance and resultsmay differ materially from the plans, goals, and expectations set forth inPrudential's forward-looking statements. Prudential undertakes no obligation toupdate the forward-looking statements contained in this statement or any otherforward-looking statements it may make. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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