Since 2001, PREI Latin America has been actively investing in the region and has become one of the largest institutional equity investor in the Mexican real estate market. Our primary property types include: industrial, residential, office, hotel and retail properties throughout Mexico, Chile, Brazil and Argentina. Offerings are available through closed-end commingled funds and our products are designed to address specific client needs. Prudential supports PREI's activities by co-investing its own capital with that of our clients.

Reasons to invest in Latin America: Reduced political and institutional risk Prospects for regional economic consolidation "CORE" real estate investment opportunities in emerging markets Obsolete stock of real estate in the face of growing demand Compelling demographic forces stemming from a young population Increasing domestic savings, particularly from a rising middle class

Factors to consider in Latin America: Deceleration in the global economy Evolution of regional trade agreements: NAFTA, ALCA and MERCOSUR Political situation in Andean countries

Potential Obstacles to Investment: Lack of liquidity Lack of information Lack of transparency Inadequate legislation Unstable currency Perceived "country risk"

Closed-end Commingled Strategies

High Return: Strategies targeting investments in industrial assets in select Mexican markets.

Opportunistic: Strategies established through joint ventures with local operators to acquire and develop residential, retail centers, and commercial real estate in the region.