ADVANCE/Community Foundation of New Jersey announces winners at the Corporate Philanthropic...

NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Nov. 9, 1994-- The Prudential Insurance Company of America was named corporate philanthropist of the year at the fifth annual New Jersey Corporate Philanthropic Awards Dinner tonight.

Sponsored by the Community Foundation of New Jersey, more than 300

In addition to The Prudential, 19 other companies were honored for their philanthropic contributions in the arts, education, health and environment, and social welfare.

Robert C. Winters, Prudential's chairman and chief executive officer, accepted the corporate Philanthropist of the Year award from Ralph Larsen, chairman and chief executive officer of Johnson & Johnson, which was last year's winner.

In presenting the award, Larsen noted that Bob Winters, personally, and Prudential as a company, "have worked continuously to make New Jersey a better place to live and to grow a business."

The company will donate the $10,000 top prize to the Sheila C. Williamson Memorial Fund, created by the Community Foundation in memory of its executive director.

"We're happy to do our part to enrich the lives of those around us, particularly the children who are the future of this great state," said Winters in accepting the award. "But it takes the collective effort of many organizations working together to make a real difference in our communities."

Headquartered in Newark, The Prudential addresses critical children's issues and community needs primarily through its Foundation, Social Investments Program and Community Initiatives Division. Founded in 1975, The Prudential is one of the largest diversified financial institutions in the world.

Through the Steven and Mary Birch Foundation, a total of $50,000 was awarded to the 1994 recipients, which they donated to favorite charities. -0-

The individual category winners and non-profit recipients are:

Award                     Corporation         Non-Profit Recipient
-----                     ------------        ----------------------
Corporate Philanthropist                       Sheila C. Williamson
 of the Year              The Prudential        Memorial Fund
Social Welfare            Campbell Soup Co.    Food Bank of South NJ
Education                 Bristol-Myers Squibb  Hun School/Middlesex
                          Pharmaceutical Group   County College
Health and Environment    Ciba Pharmaceutical  Children's Specialized
                          Division             Hospital
Arts                      Matsushita Consumer  Arts Power
                          Electronics Company

CONTACT: McQueeny Davis Kohn & Partners

             Bea Daggett, 201/993-5600
                        or
             Community Foundation of N.J.
             Patty Hutchinson, 201/267-5533