Acquisition of IFC

Prudential PLC
11 July 2000


PRUDENTIAL'S JACKSON NATIONAL LIFE TO ACQUIRE IFC HOLDINGS

Prudential today announced that National Planning Holdings (NPH), a wholly
owned subsidiary of Prudential's US subsidiary, Jackson National Life, has
reached an agreement to acquire IFC Holdings (IFC).  IFC, currently owned by
AmSouth Bank a subsidiary of AmSouth Bancorporation, is the leading bank
third-party marketing organisation in the United States.  Net assets acquired
amount to $43 million and the acquisition will be funded from Jackson's own
resources.

It is expected that the acquisition will be completed in the third quarter of
this year and together with NPH will create the fifth largest independent
broker-dealer network in the United States, generating annual sales in excess
of $6 billion and revenues of approximately $350 million.

Prudential Group Chief Executive, Jonathan Bloomer said

'The acquisition of IFC Holdings marks another stage in our strategic
objective of expanding our product lines, distribution channels and customer
base in the US.'

Robert Saltzman, President and Chief Executive of Jackson National Life said

'The acquisition will significantly enhance our distribution through banks and
further expand our current broker-dealer network.'

Enquiries:

Media:                             Analysts:

Jeremy Reynolds                    Rebecca Burrows
+ 44 20 7548 3721                  + 44 20 7548 3537
Prudential plc

Tina Christou
+ 44 20 7548 3719
Prudential plc

Notes to editors:

IFC Holdings was the largest third-party marketer of investment and insurance
products to financial institutions in 1999.  It operates in 48 states as
INVEST and Investment Centers of America.  It was a subsidiary of First
American Corporation, which AmSouth acquired last year.

National Planning Holdings consists of National Planning Corporation (NPC) and
SII Investments.  SII investments was purchased by NPH in February 1998; since
then, SII's revenues have grown by more than 200 percent. Currently, National
Planning has more than 1,700 affiliated representatives.

National Planning Holdings, headquartered in Santa Monica, California is a
wholly owned affiliate of Jackson National Life (JNL), headquartered in
Lansing, Michigan. At 31 December 1999, JNL ranked as the 20th largest US life
insurance company in terms of total assets. JNL is wholly owned by Prudential
plc (NYSE: PUK), a leading international financial services group with
businesses in Europe, the United States and Asia.