CHICAGO, Sept. 22 /PRNewswire-FirstCall/ -- Prudential Relocation, a Prudential Financial (NYSE: PRU) business, today unveiled a redesigned rental program that provides greater benefits and efficiencies for corporate clients and their relocating employees. Prudential Relocation operates the program through Equity Residential (NYSE: EQR), America's largest publicly traded owner of apartments.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010801/ERPTCLOGO )

Bruce W. Duncan, Equity Residential's President and CEO stated, "Equity Residential is pleased to team up with Prudential Relocation and deliver a platform for improved levels of service to clients and unfurnished renters across the country. This relationship is an example of the possibilities Equity Residential can pursue based on our size and resources."

"We believe relocating renters should have access to the same caliber of support we provide our relocating home buyers and sellers. Our agreement with Equity Residential and the additional support provided by Chamness Relocation Services brings three world-class providers together and presents a dynamic set of value to both our corporate clients and their employees," said Margery Marshall, president, Prudential Relocation.

Complementing Prudential Relocation's high standards for trained destination specialists, Equity Residential will enhance the support provided to renters who fall into new-hire, lump-sum or the host of renter policy combinations that exist for clients. Utilizing Chamness Relocation will accommodate any need for area orientations.

Chamness Relocation Services has worked with Prudential Relocation since 1999 and will support the on-the-ground efforts for Prudential Relocation's rental customers using this program. The combination of Equity Residential, Chamness and Prudential Relocation creates a seamless rental experience for corporate clients and their employees.

Depending on the corporate client's policy, those who are eligible for an area tour/orientation will work with an on-the-ground specialist who will conduct a more detailed needs and interest assessment on the destination community. The specialist will serve as a personal guide to the city for the customer, showing properties and other important cultural or lifestyle concerns.

Prudential Relocation's rental model, under which Prudential Real Estate Network specialists across the country handle corporate transferees' rental assistance needs, remains unchanged.

About Equity Residential

With more than 1,000 rental communities in 34 states, Equity Residential is the largest publicly traded owner of apartments in the United States. Equity Residential and its predecessor companies have been serving renters since 1969. Equity Residential's size and scope allow the flexibility to offer furnished, unfurnished, short and long-term apartment options and a variety of services and amenities to meet the needs of their customers. For more information, visit www.equityapartments.com .

About Prudential Relocation

Prudential Financial's relocation group is the second largest provider of comprehensive global relocation services in the United States as of February 22, 2002, according to Relocation Information Services. In 2002, the company completed approximately 188,000 service transactions to 56,250 transferees.

With locations in the United States, Canada, United Kingdom, France, Mexico, Hong Kong, Singapore, Taipei, Tokyo, Beijing, and Shanghai, Prudential Financial's relocation group has the global capabilities to offer clients a variety of services in connection with the relocation of their employees. These services can include coordination of intra and inter-country relocations, intercultural training, global business consulting, appraisal, inspection and sale of relocating employees' homes, equity advances to relocating employees, assistance in locating a home at the relocating employee's destination, global household goods moving services and client cost-tracking and a variety of relocation policy and group move consulting services. The company has an established client base, ranging from global Fortune 500 companies to U.S. government agencies.

Prudential Financial companies, with approximately $422 billion in total assets under management as of June 30, 2003, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the U.S. These companies offer a variety of products and services, including life insurance, property and casualty insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prudential.com .

About Chamness Relocation Services

Chamness Relocation Services is the only provider of Destination Services nationwide. Chamness delivers highly personalized services and cost-effective solutions to meet the needs of their diverse US and Global client base. Their flexibility, industry expertise, and award-winning customer service, receiving the Prudential's 2001 Partner of the Year Award, has helped make Chamness a recognized leader in the relocation industry.

SOURCE  Equity Residential
    -0-                             09/22/2003
    /CONTACT:  Marty McKenna of Equity Residential, +1-312-928-1901/
    /Photo:  http://www.newscom.com/cgi-bin/prnh/20010801/ERPTCLOGO
              AP Archive:  http://photoarchive.ap.org
              PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840/
    /Web site:  http://www.equityapartments.comhttp://www.prudential.com /
    (PRU EQR)

CO:  Equity Residential; Prudential Relocation; Chamness Relocation Services
ST:  Illinois
IN:  FIN RLT
SU:  PDT CON



SH-AB 
-- CGM010 --
4570 09/22/200308:29 EDThttp://www.prnewswire.com