Acquisition

Prudential PLC
23 January 2001

Embargo: 07:00 hrs GMT Tuesday 23 January 2001


Prudential plc enters Japanese life insurance market:

Acquisition of Orico Life Insurance Co. Ltd for £133 million



Prudential plc (Prudential) today announced that it had signed an agreement to
acquire Orico Life Insurance Co. Ltd ('Orico Life') for £133 million (Y23
billion/US$200 million) from Orient Corporation ('Orient'), one of Japan's
major consumer credit providers. The deal is expected to complete by the end
of February 2001, subject to regulatory and legal approvals.

Orico Life, established in 1990, is based in Tokyo and has operations in a
further 10 locations in Japan. It has over 240,000 in force policies, with
total assets at 31 March 2000 of £650 million. It offers a wide range of
products including term, savings and protection. Distribution is multi-channel
and includes professional agents, financial institutions and accountants.
Orico Life's distribution arrangements with Orient will remain in place and it
will continue to work closely with Orient in the areas of distribution and
provision of wealth management products.

With the acquisition of Orico Life, Prudential now has life operations in 11
countries across Asia (including China and India) combined with a rapidly
expanding mutual fund presence in the region. Prudential was first established
in Asia in 1923 and is currently the UK's largest life insurance company in
the region.

Commenting on the acquisition, Prudential's group chief executive Jonathan
Bloomer said: 'Japan is the world's largest life insurance market and we have
been reviewing potential opportunities there for some time. We are delighted
to have found, in Orico Life, a modern and innovative life business which
provides us with a solid platform to build a presence in this very significant
market.'

This acquisition continues Prudential's planned and focused expansion strategy
in Asia. Mark Tucker, Chief Executive of Prudential Corporation Asia added:
'This acquisition of a progressive Japanese life player, which is a
financially sound company with excellent growth potential, is a great fit with
our strategy here in Asia. It will enable us to leverage our regional
distribution initiatives and product strengths straight away and accelerate
the next exciting stage of Orico Life's development.'



                         -Ends-

Notes to Editors:

Orient Corporation

Orient is one of the largest consumer credit companies in Japan, providing
credit cards, guarantee and loan agent services together with direct cash
loans through a network of 214 domestic branches. It is Japan's largest
provider of automobile loans, has over 9 million credit card customers and
operates through 500,000 retail outlets. Orient also has strong ties with its
main bank, the Dai-Ichi Kangyo Bank.

Prudential has been advised by UBS Warburg (Japan), a subsidiary of UBS AG.
Orient has been advised by the Dai-Ichi Kangyo Bank and PricewaterhouseCoopers
Financial Advisory Services Co., Ltd.



Media Enquiries:                         Analyst Enquiries:

Geraldine Davies                         Rebecca Burrows

Director of Corporate Relations               Director of Investor Relations

020 7548 3911                         020 7548 3537



There will be a conference call for:

Analysts today at 11.30 GMT on 020 8240 8242 (a recording of this call will be
available for the next 7 days on 020 8288 4459, quoting reference number
620962)

Media today at 12.15 GMT on 020 8288 4530

Both calls will be hosted by Mark Tucker, Chief Executive of Prudential
Corporation Asia, from Tokyo and Philip Broadley, Finance Director of
Prudential plc, from London.