ABOUT THE FUNDThe Asia Property Fund (“the Fund”) will seek current income and long-term capital appreciation through investments in real estate across the Asia-Pacific region. The initial focus will be Japan, South Korea, Hong Kong, Singapore and Australia, but will expand as markets in the region mature.

KEY TERMS OF THE FUND

FOR MORE INFORMATION(Ms) Schutz LeeHead of Marketing and Investor RelationsPRUPIM SingaporeT: +65 6436 5300E: asia.enquiry@prupim.com.sgW: www.prupim.com.sg

Philip LevinsonDirector, Client Services AsiaLaSalle Investment ManagementT: +65 6533 2443E: philip.levinson@lasalle.comW: www.lasalle.com

ASIA PROPERTY FUND Open-ended Asia-Pacific Property Fund

FUND FACTSHEET FIRST QUARTER 2007

Name of building City Country TypeTotal GFA of

property (sq m)

Nara Building Seoul South Korea Office 29,929

Northgate Building Seoul South Korea Office 34,314

Li & Fung Centre Hong Kong Hong Kong Logistics 45,288

Compass Point Singapore Singapore Retail 38,472

400 George Street Sydney Australia Office 58,167

Geographic Allocation* Sector Allocation*

44%

32%

15%

9%

South Korea

Singapore

Australia

Hong Kong

9%

32%

59%

OfficeRetailLogistics

* Based on valuation as at end-Jan 2007

INVESTMENT HIGHLIGHTS

Direct Property Exposure: The Fund will invest primarily in stable, income- producing, real property assets in Asia’s major markets.

Attractive Initial Portfolio: Diversified portfolio of five institutional-grade assets offering immediate exposure to four countries and three sectors in key Asia-Pacific markets. Currently valued at circa USD 600 million, the portfolio is fully leased to a diversified pool of tenants under a range of lease structures that provide a stable income profile with opportunities to capture market growth.

Strong Sponsors: The Fund is jointly sponsored by two of the strongest names in global and Asia-Pacific real estate investment management – PRUPIM and LaSalle Investment Management. The sponsors’ fund and investment management capabilities benefit from the Prudential plc and Jones Lang LaSalle global platforms.

Substantial Seeding Commitment: The sponsors have allocated USD 875

million of assets and capital to seed the Fund. Prudential’s UK Life Fund has contributed the USD 600 million seed portfolio, which will be expanded and rebalanced with a USD 275 million equity commitment from Prudential’s Asia Life Funds and LaSalle Investment Management.

Track Record: The Fund’s launch marks the expansion and continuation of PRUPIM’s and LaSalle’s five-year partnership in Asia, which resulted in gross annual returns in the high teens for the Prudential UK Life Fund since 2001. The same LaSalle investment teams will lead the acquisition and asset management functions while the same joint Investment Committee will oversee the Fund’s strategy and execution.

New Industry Standards: As the first open-ended real estate fund in Asia-Pacific, the Fund will set new industry standards in the region for offering monthly subscription, redemption, valuation and published NAV to global investors. The Fund is serviced regionally in partnership with the leading global property management, valuation, audit and administration providers.

INITIAL PORTFOLIO OVERVIEW

Structure Luxembourg SICAV

Currency US Dollar

Fund Life Open-ended

Target Total Return

8 – 10% p.a.

Target Leverage 40%, capped at 50%

Subscription Monthly and on queue

Redemption Monthly and on queue

Dividend Quarterly, within 40 business days

Fund Manager PRUPIM Singapore

Investment Manager

LaSalle Investment Management

Compass Point, Singapore

IMPORTANT DISCLAIMER

This information is provided on a private and confidential basis to potential investors in deciding if they wish to consider this investment. It must not be published, circulated, reproduced or distributed in whole or part without our written consent. This information does not constitute an offer to invest and is subject to correction, completion and amendment without notice. Any such offer. If made, will only be made by means of a private placement memorandum.

Past performance and any forecasts are not necessarily indicative of the future or likely performance of the Fund,

Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.

ROLES AND RESPONSIBILITIES

PRUPIM• Ultimately owned by Prudential

plc (United Kingdom) • Has over 150 years in real

estate fund management • One of the largest direct real

estate investment managers in the world – AUM USD 37 billion as at Dec 06, almost entirely equity

• One of the first to invest internationally, started over 30 years ago – ex-UK AUM currently USD 2.8 billion

PRUPIM Singapore• Combines PRUPIM’s property

expertise with Prudential’s extensive footprint and fund management business in Asia

• Headquartered in Singapore with Asia-Pacific mandate

• PRUPIM Singapore manages around USD 900 million of Asia Pacific real estate assets

LaSalle Investment Management• Leading global real estate investment

manager, over 25 years of experience

• AUM over USD 40 billion (as at Dec 06) in separate accounts, direct funds and real estate securities

• Subsidiary of Jones Lang LaSalle, one of the world's leading real estate service providers with 11,100 employees world-wide (NYSE:JLL)

LaSalle Asia• Established Asia Pacific business,

with on-the-ground presence and track record since 2000

• 5 offices across the region, 75 professionals and over 90 staff in total

• AUM over USD 4billion (as at Dec 06); USD 3.5 billion of transactions completed since 2003

• Access to Jones Lang LaSalle's network of over 4,000 employees in 35 markets across Asia Pacific

ABOUT THE PARTNERS

• Clear roles and responsibilities, leveraging the respective strengths of the sponsors with joint input on key strategic matters

• Joint representation at all decision-making levels of the Fund

• This is a proven partnership that has successfully closed on 10 investments in four countries and three sectors in the region. These investments have produced gross annual returns in the high teens over the last five years to 2006

Board of Directors

Fund ManagerPRUPIM Singapore

Investment ManagerLaSalle Asia

Fund AdministratorRBC Dexia

Investment Committee

ASIA PROPERTY FUND Open-ended Asia-Pacific Property Fund

FUND FACTSHEET FIRST QUARTER 2007

LiFung CentreHong Kong

400 George StreetSydney, Australia

Northgate BuildingSeoul, South Korea

Nara Building, Seoul, South Korea

• Strategy

• Fund Planning and Administration

• Investor Reporting

• Equity Raising

• Strategy

• Acquisitions, Asset Management and Dispositions

• Asset Planning and Administration

• Equity raising

• Monthly Pricing

• Fund Financial Administration

• Taxation

• Company Secretarial