"Our agreement with Oakwood enables us to integrate another value-added service for our customers' relocation and real estate needs," commented Dan King, vice president Home Ownership Services for PRERS. "Bundling these types of services makes the relocating individual or families lives a lot easier."

"Increased globalization and relocation trends mean that families who are moving into new cities will be able to tap into all of services Prudential offers," continued King. "We can handle all of their relocation needs and link them to a quality sales associate in their new city. The Prudential broker will be able to offer them preferred pricing on temporary housing while assisting them in getting acquainted with their new community and securing their future home."

Prudential will now be able to offer its clients special rates at Oakwood's apartments and seamless one-stop shopping for all their relocation needs. A dedicated Oakwood reservations team will service Prudential's needs.

"Temporary housing" refers to furnished residential apartments that offer hotel services such as housekeeping and concierge. Temporary housing is used most frequently by relocating business executives as well as families who are between homes.

"We look forward to providing superior service to Prudential," said Howard Ruby, chairman of Oakwood's parent company, RB Realty Group. "Oakwood has by far the most temporary housing locations nationwide and can accommodate unique situations, such as group moves and special requests for unique furnishings."

Prudential Real Estate and Relocation Solutions is the parent company for Prudential's real estate and relocation brands. For 30 years, Prudential Relocation has focused on providing world-class solutions to meet the world-wide mobility needs of corporate America. Prudential Relocation moves over 40,000 families per year. The Prudential Real Estate Affiliates, Inc., is a leading full-service real estate brokerage franchisor which awarded its first affiliation in 1988. The Network comprises 37,000 sales associates and brokers in more than 1,400 offices throughout the United States and Canada, most of which are independently owned and operated.

PREA, with headquarters in Irvine, Calif., is a subsidiary of The Prudential Insurance Company of America and the Network generated sales of $67.6 billion in 1997. Prudential Real Estate and Prudential Relocation can be found on Prudential's web site at http://www.prudential.com.

The Oakwood brand was created in 1969 and now serves the temporary housing needs of more than 400 of the Fortune 500 companies. In hundreds of locations nationwide, Oakwood Corporate Housing takes leases on existing residential units, appoints them with its own furniture and housewares, and then sublets them to corporations and individuals as extended stay residences. In approximately 40 additional locations, the company operates Oakwood Apartments, fully-furnished properties with onsite Oakwood hospitality staff. More information on Oakwood can be found at http://www.oakwood.com.