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Exhibit 4.5    
    

Sir
David Clementi

Chairman

Prudential plc 

10
June 2004 

Dear
David 

DIRECTORS' AND OFFICERS' PROTECTION—YOUR BENEFITS  

 This letter is to confirm that you will be entitled to the following benefits relating to directors' and officers' protection against personal liability, to the
extent such benefits are maintained by Prudential plc ("Prudential") or its subsidiaries (within the meaning of the Companies Act 1985) (the
"Group") from time to time: 

	(a)
	Directors'
and officers' liability insurance cover, subject to its terms and conditions;

	(b)
	An
indemnity from Prudential as set out in the attached schedule (and in addition Prudential hereby indemnifies you against certain personal liabilities you may incur, to the extent
provided in the constitutional documents of Prudential and subject to applicable law); and

	(c)
	Eligibility
under the discretionary payments policy adopted by Prudential (subject to regular review), the existence of which directors and certain employees of the Group may rely on,
to protect them from personal liability arising out of the bona fide performance of their duties. 

This
letter will take effect from the date your acknowledgement is received by us and will be incorporated in and constitute an agreed amendment of your terms of appointment. To acknowledge and agree
this letter, please countersign the enclosed duplicate of this letter and return it to Peter Maynard under cover marked private and confidential. 

Yours
sincerely 

/s/
Jonathan Bloomer 

Jonathan
Bloomer

Group Chief Executive

Prudential plc 

Acknowledged
and Agreed: 

/s/
David Clementi 

......................................................... 

Date
15.6.04 

SCHEDULE

INDEMNITY  

 In this schedule, the capitalised term the "Non-executive" means you. 

Certain important and extensive statutory limitations applicable to the indemnity set out below, which are referred to in paragraph 1(A).

	1
	Prudential
undertakes to indemnify the Non-executive and hold the Non-executive harmless against any and all claims, actions, demands, proceedings,
investigations, judgments or awards ("Claims") (in each case, save as set out below, whether or not successful, compromised or settled) which may be
instituted, made, threatened or alleged against or otherwise involve the Non-executive in any jurisdiction and against all losses, damages, costs, liabilities, demands, charges, penalties,
fines or expenses (including reasonable legal fees) ("Losses") in any jurisdiction which the Non-executive may suffer or incur (including,
but not limited to, all such Losses suffered or incurred in investigating, responding to, preparing for or disputing any Claim or Loss and any costs or expenses of any other party to any Claim which
the Non-executive may become liable to pay) and which in any such case arise out of the carrying out or performance by the Non-executive of his/her duties as a
non-executive director of Prudential, 

PROVIDED THAT:  

	(A)
	if the Non-executive is a director of Prudential, the Non-executive shall not be entitled to any indemnity under this
paragraph 1 to the extent that it would be void by virtue of section 310 of the Companies Act 1985;

	(B)
	subject
to sub-paragraph (D)(ii) below, the Non-executive shall not be entitled to any indemnity under this paragraph 1 if the relevant
Claim or Loss arises as a result of, or in connection with, any act or omission by the Non-executive which is determined by any relevant court, tribunal or other legal or regulatory
authority, or otherwise judicially determined, to constitute fraud, dishonesty, bad faith or wilful default on the part of the Non-executive;

	(C)
	the
Non-executive shall not be entitled to be indemnified under this paragraph 1 in respect of any penalty or fine imposed for a criminal offence or by any relevant
court, tribunal or other legal or regulatory authority; and

	(D)
	where
the Non-executive suffers or incurs legal or other out-of-pocket advisory costs in investigating, responding to, preparing for or disputing
any Claim the Non-executive shall be entitled to be indemnified under paragraph 1 forthwith after the same becomes due and payable by the Non-executive, provided that if
such Claim:

	(i)
	relates
to a criminal offence in relation to which the Non-executive is ultimately convicted; or

	(ii)
	is
brought against the Non-executive by a regulatory body in respect of which the relevant tribunal of that authority ultimately determines that any act or omission by
the Non-executive constitutes fraud, dishonesty, bad faith or wilful default on the part of the Non-executive for which a penalty or fine is imposed on the
Non-executive by such body, 

Prudential
shall be entitled (a) to refuse any indemnification (or, as the case may be, any further indemnification) to the Non-executive under this paragraph 1 in relation
to such costs (in whole or in part) and (b) where Prudential has indemnified the Non-executive under this paragraph 1 in relation to such costs, to be reimbursed by the
Non-executive in respect of all or any amounts so indemnified. 

	2
	The
Non-executive shall notify Prudential in writing promptly upon becoming aware of any Claim or Loss for which indemnity may be sought under paragraph 1 above,
providing to Prudential all such information as the Non-executive has of the circumstances of the relevant matter. The Non-executive acknowledges that Prudential may provide
such information to any other member of the Group. 

	3
	The
Non-executive shall, subject to paragraph 4, have conduct of the defence and settlement of any Claim notified to Prudential under paragraph 2, but
Prudential shall have the right (but not the obligation) to associate itself with such proceedings. Prudential shall not be required or, without the consent of the Non-executive (such
consent not to be unreasonably withheld or delayed) permitted, to assume the conduct of the Claim against the Non-executive.

	4
	The
Non-executive shall conduct all proceedings diligently and competently using legal representatives mutually acceptable to the Non-executive and Prudential.
The Non-executive shall keep Prudential informed of the progress of any Claim and recognises the right of Prudential to provide at its discretion input into the conduct of any such
proceedings. The Non-executive shall not settle or compromise any Claim without Prudential's consent (such consent not to be unreasonably withheld or delayed). 

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Exhibit 4.6    
    

Keki
Dadiseth Esq

Global Division Director

Unilever PLC

Unilever House

Blackfriars

London

EC4P 4BQ 

24
January 2005 

Dear
Keki 

PRUDENTIAL PLC—LETTER OF APPOINTMENT  

 The Board of Prudential plc (the "Company") has appointed you as non-executive Director with effect from 1 April 2005. I am now writing
to set out the terms of your appointment. It is agreed that this is a contract for services subject to the Company's Articles of Association as amended from time to time and does not constitute a
contract of employment. 

Appointment  

 Your appointment is subject to election by shareholders at the AGM in 2005. Continuation of your appointment will be contingent on satisfactory performance and
re-election at forthcoming AGMs. Non-executive Directors are typically expected to serve two three-year terms from the date of election by shareholders,
although the Board may invite you to serve for an additional period. 

The
appointment may be terminated by and at the discretion of either party upon six months' written notice. Upon termination you will not be entitled to any compensation other than accrued
pro-rata fees and you shall also cease to be a member of any committee or sub-committee of the Board. All records, documents, accounts, letters and papers of every description
(including in particular Board and Committee agendas and minutes) within your possession or control relating to the affairs and business of the Group are and will remain the property of the Company,
and shall be returned to the Company. 

Time Commitment  

 We would anticipate a time commitment as a Board member of approximately 12–14 days per year depending on the amount of time needed for
preparation. We currently schedule a total of 9 Board meetings per year one of which is followed by the AGM. The Board also conducts a site visit to one of its businesses each year and in
addition meets together on a strategy day. Both events are either preceded by or followed by a scheduled Board meeting. Remuneration Committee meetings are held at least 3 times a year and usually
take place on the same day as Board meetings. We currently schedule 6 Audit Committee meetings a year and it would be reasonable to assume that membership of the Audit Committee requires at
least another 6 days, again depending on the amount of time needed for preparation. 

Whilst
we acknowledge that you have other commitments which may mean you will not be able to attend all meetings of the Board and relevant committees, you have confirmed by accepting this appointment
that you believe that you are able to allocate sufficient time to the Company's affairs to meet the demands of the role. You should discuss any additional commitments that might impact on the time you
are able to devote to your role as a non-executive Director of the Company with me prior to accepting. 

Role  

 Non-executive Directors have the same general legal responsibilities to the Company as any other Director. The Board as a whole is collectively
responsible for the success of the Company. The Board: 

	•
	Provides
entrepreneurial leadership of the Company within a framework of prudent and effective controls which enable risk to be assessed and managed;

	•
	Sets
the Company's strategic aims, ensures that the necessary financial and human resources are in place for the Company to meet its objectives, and reviews management
performance; and

	•
	Sets
the Company's values and standards and ensures that its obligations to its shareholders and others are understood and met. 

Directors
of any company must take decisions objectively in the interests of that company. A summary of responsibilities of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed. 

In
addition to these general requirements of all Directors, the role of the non-executive Director has the following key elements: 

	•
	Strategy.    Non-executive Directors should constructively challenge and help develop proposals on
strategy.

	•
	Performance.    Non-executive Directors should scrutinise the performance of management in meeting
agreed goals and objectives and monitor the reporting of performance. This is achieved both at the Board and on a more individual level through the Remuneration Committee, of which all
non-executive Directors are members.

	•
	Risk.    Non-executive Directors should satisfy themselves of the integrity of financial information
and that financial controls and systems of risk management are robust and defensible. This is achieved by escalating key issues to the Board either directly or via the Audit Committee. The Audit
Committee itself reviews the activities of the Group Risk Committee and the Disclosure Committee.

	•
	People.    Non-executive Directors have a prime role in appointing, and where necessary removing,
executive Directors and in succession planning. In addition, they are responsible for determining appropriate levels of remuneration for executive Directors. This business is mainly conducted via the
Remuneration Committee. 

Fees, committee membership and expenses  

 Non-executive members of the Board are required to serve on Committees of the Board. The three main Committees are Audit, Remuneration and Nomination.
I will discuss your Committee memberships with you from time to time. 

Non-executive
Directors' fees are subject to annual review by the Board and are currently £50,000 per annum for Board and Remuneration Committee membership accruing on a daily
basis and payable quarterly in arrears. Fees for Audit Committee membership are currently an additional £5,000 per annum. Fees are payable net of tax and National Insurance contributions
which Prudential is required to deduct, and are reviewed by the Board from time to time. 

The
net proceeds after tax and National Insurance deductions (if any) of £25,000 per annum of your gross fees will be deducted at source, in equal quarterly instalments, and applied in the
purchase of ordinary shares in Prudential plc on your behalf. This transaction will take place on the last working day each Quarter. 

As
a non-executive Director you are not entitled to participate in any of the Group's executive remuneration programmes or pension arrangements. 

Directors
are entitled to claim for all travelling, hotel and other expenses properly incurred by them in connection with their attendance at meetings of the Board or Committees of the Board, general
meetings or separate meetings of the holders of any class of shares or of debentures of the Company or otherwise in connection with the discharge of their duties. We would normally expect to meet
non-executive Directors' expenses for long-distance travel and hotels where an overnight stay is necessary. Expenses incurred should be submitted to my office for approval. 

Shareholding and dealing  

 I draw your attention to Article 112 onwards of the enclosed Articles of Association of the Company which deal with a number of matters relating to
Directors. Article 121 requires you to be a beneficial owner of 2,500 Prudential shares and to retain them during the tenure of your office. The Articles require that these shares be acquired
within two months of your appointment if you do not already have an interest in the required number of shares. 

Similarly,
the shares purchased on your behalf each Quarter must also be held whilst you are in office. 

Further
information relating Directors' interests in the Group's securities are contained in the supplemental letter, which deals with some of the practical aspects of your appointment. During your
term in office you will be subject to Prudential's Share Dealing Rules, full particulars of which can be found on our intranet site, Affinity. These are updated as required to reflect changes in
legislation and regulations, and will provide you with the necessary guidance on the steps you need to take and other considerations relating to share dealings. 

If
you have any questions on this please consult with Group Secretarial. The relevant announcement for the acquisition of shares on your behalf at the end of each Quarter will be made automatically.
Details of any other dealings need to be notified to Group Secretarial on the day of dealing so that the announcement can be made within the required time limit. 

Conflicts of interests and disclosure obligations  

 It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. In
the event that you become aware of any future potential conflicts of interest, these should be disclosed to me and the Company Secretary as soon as apparent, prior to accepting appointments. In
particular we would not wish our Directors to serve on the Boards of financial services competitors. 

The
Company has an obligation to record on its register of directors details of other directorships which are or were held during the past five years by its directors. This information, together with
non-statutory offices, is also required to be disclosed to insurance regulators in the US on an annual basis. Any changes in your external appointments, including non-statutory
offices, should be notified to the Company Secretary or Deputy Group Secretary on an ongoing basis. 

Confidentiality  

 All information acquired during your appointment is confidential to the Company and should not be released, either during your appointment or following
termination (by whatever means), to third parties without prior clearance from me. 

Your
attention is also drawn to the requirements under both legislation and regulation as to the disclosure of price sensitive information. Consequently you should avoid making any statements that
might risk a breach of these requirements without prior clearance from me or the Company Secretary. 

Induction  

 Following your appointment, the Company will provide a formal and tailored induction programme, details of which are enclosed. This will include meetings with
senior management and the Company's auditors. 

Board evaluation  

 The performance of individual Directors and the whole Board and its Committees is evaluated annually. If, in the interim, there are any matters which cause you
concern about your role you should discuss them with me as soon as is appropriate. 

Professional development  

 As a Director you will be invited to appropriate educational and/or professional development programmes, determined as part of the annual Board evaluation
programme or by the Board generally. 

Directors and officers protection  

 The Company has directors' and officers' liability insurance and it is intended to maintain such cover for the full term of your appointment. A brief summary of
the cover can be found in Prudential's Guidance Notes for Directors, which is updated and issued to all Directors on a regular basis. 

The
Company has also resolved to provide you with indemnity cover for directors' and officers' liability within the limitations imposed by law. In addition, the Company will provide you with a limited
indemnity for certain personal liabilities you may suffer in the course of your appointment, subject again to applicable statutory and other limitations, pursuant to the Company's constitutional
documents or otherwise. 

The
Board has also resolved to have a discretionary payments policy (subject to regular review), the existence of which Directors (executive and non-executive) and certain employees or
members of the Prudential Group may rely on, to protect them from personal liability arising out of the bona fide performance of their duties on behalf of the Group. 

Independent professional advice  

 Occasions may arise when you consider that you need professional advice in the furtherance of your duties as a Director. Circumstances may occur when it will be
appropriate for you to seek advice from independent advisors at the Company's expense. This would normally be arranged through the Company Secretary. The Company will reimburse the full cost of
expenditure incurred in accordance with the policy. Details of the agreed procedure under which Directors may obtain such independent advice can be found in the Prudential Guidance Notes for
Directors. 

Yours
sincerely 

/s/
David Clementi 

Sir
David Clementi

Chairman

Prudential plc 

Acknowledgement:  

	1.
	I
acknowledge that this appointment letter does not constitute a contract of employment.

	2.
	I
irrevocably instruct Prudential plc to deduct all relevant amounts from each quarterly fee payment due to me and to apply that amount in the purchase of shares on my behalf as set
out above.

	3.
	I
confirm that by having accepted this appointment, I am able to allocate sufficient time to meet the expectations of my role. 

	 
	 

	Signed:	/s/ K B Dadiseth

Strictly Private & Confidential—Addressee Only  

Keki
Dadiseth, Esq.

Unilever PLC

Unilever House

Blackfriars

London

EC4P 4BQ 

11
March 2005 

Dear
Keki 

Letter of Appointment  

 This letter sets out the agreed amendments to your letter of appointment dated 24 January 2005 to take account of your requirement that until 31 May your
director's fees should be paid to Unilever in cash. 

The
agreed amendments are: 

	•
	All
director's fees for the period 1 April 2005–31 May 2005 will be paid to Unilever PLC in cash. Unilever PLC will invoice Prudential plc for the
amount of director's fees due for the period 1 April 2005–31 May 2005. Unilever PLC will be responsible for the payment of VAT and any other taxes due on such amount; and

	•
	With
effect from 1 June 2005 director's fees will be paid to you as set out in your letter of appointment dated 24 January. 

All
other terms and conditions of your original letter of appointment remain the same. 

Please
would you countersign the enclosed copy of this letter by way of agreement to its terms. 

Kind
regards 

/s/
D Clementi 

Sir
David Clementi

Chairman

Prudential plc 

Acknowledgement:  

	1.
	I
acknowledge that this side letter constitutes a variation to my letter of appointment.

	2.
	I
irrevocably instruct Prudential plc to pay all fees due to me as a non-executive director for the months of April and May 2005 to Unilever PLC subject to the
payment of taxes as set out above.

	3.
	I
confirm that Unilever PLC will invoice for the period set out above. 

	 
	 

	Signed:	/s/ K B Dadiseth

Michael Garrett, Esq.

Executive Vice President;

Asia; Oceania; Africa & Middle East

Nestle SA

CH-1800

Vevey

Switzerland 

9
July 2004 

Dear
Michael 

PRUDENTIAL PLC—LETTER OF APPOINTMENT  

 The Board of Prudential plc (the "Company") has appointed you as non-executive Director with effect from 1 September 2004. I am now
writing to set out the terms of your appointment. It is agreed that this is a contract for services subject to the Company's Articles of Association as amended from time to time and does not
constitute a contract of employment. 

Appointment  

 Your appointment is subject to election by shareholders at the AGM in 2005. Continuation of your appointment will be contingent on satisfactory performance and
re-election at forthcoming AGMs. Non-executive Directors are typically expected to serve two three-year terms from the date of election by shareholders,
although the Board may invite you to serve for an additional period. 

The
appointment may be terminated by and at the discretion of either party upon six months' written notice. Upon termination you will not be entitled to any compensation other than accrued
pro-rata fees and you shall also cease to be a member of any committee or sub-committee of the Board. All records, documents, accounts, letters and papers of every description
(including in particular Board and Committee agendas and minutes) within your possession or control relating to the affairs and business of the Group are and will remain the property of the Company,
and shall be returned to the Company. 

Time Commitment  

 We would anticipate a time commitment as a Board member of approximately 12–14 days per year depending on the amount of time needed for
preparation. We currently schedule a total of 9 Board meetings per year one of which is followed by the AGM. The Board also conducts a site visit to one of its businesses each year and in
addition meets together on a strategy day. Both events are either preceded by or followed by a scheduled Board meeting. Remuneration Committee meetings are held at least 3 times a year and usually
take place on the same day as Board meetings. We currently schedule 6 Audit Committee meetings a year and it would be reasonable to assume that membership of the Audit Committee requires at
least another 6 days, again depending on the amount of time needed for preparation. 

Whilst
we acknowledge that you have other commitments which may mean you will not be able to attend all meetings of the Board and relevant committees, you have confirmed by accepting this appointment
that you believe that you are able to allocate sufficient time to the Company's affairs to meet the demands of the role. You should discuss any additional commitments that might impact on the time you
are able to devote to your role as a non-executive Director of the Company with me prior to accepting. 

Role  

 Non-executive Directors have the same general legal responsibilities to the Company as any other Director. The Board as a whole is collectively
responsible for the success of the Company. The Board: 

	•
	Provides
entrepreneurial leadership of the Company within a framework of prudent and effective controls which enable risk to be assessed and managed;

	•
	Sets
the Company's strategic aims, ensures that the necessary financial and human resources are in place for the company to meet its objectives, and reviews management
performance; and

	•
	Sets
the Company's values and standards and ensures that its obligations to its shareholders and others are understood and met. 

Directors
of any company must take decisions objectively in the interests of that company. A summary of responsibilities of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed. 

In
addition to these general requirements of all Directors, the role of the non-executive Director has the following key elements: 

	•
	Strategy.    Non-executive Directors should constructively challenge and help develop proposals on
strategy.

	•
	Performance.    Non-executive Directors should scrutinise the performance of management in meeting
agreed goals and objectives and monitor the reporting of performance. This is achieved both at the Board and on a more individual level through the Remuneration Committee, of which all
non-executive Directors are members.

	•
	Risk.    Non-executive Directors should satisfy themselves on the integrity of financial information
and that financial controls and systems of risk management are robust and defensible. This is achieved by escalating key issues to the Board either directly or via the Audit Committee. The Audit
Committee itself reviews the activities of the Group Risk Committee and the Disclosure Committee.

	•
	People.    Non-executive Directors have a prime role in appointing, and where necessary removing,
executive Directors and in succession planning. In addition, they are responsible for determining appropriate levels of remuneration for executive Directors. This business is mainly conducted via the
Remuneration Committee. 

Fees, committee membership and expenses  

 Non-executive members of the Board are required to serve on Committees of the Board. The three main Committees are Audit, Remuneration and Nomination.
I will discuss your Committee memberships with you from time to time. 

Non-executive
Directors' fees are subject to annual review by the Board and are currently £50,000 per annum for Board and Remuneration Committee membership accruing on a daily
basis and payable quarterly in arrears. Fees for Audit Committee membership are currently an additional £5,000 per annum. Fees are payable net of tax and National Insurance contributions
which Prudential is required to deduct, and are reviewed by the Board from time to time. 

£25,000
per annum of your gross fees will be deducted at source, in equal quarterly instalments, and the net amount after tax and National Insurance (if any) applied in the purchase of
ordinary shares in Prudential plc on your behalf. This transaction will take place on the last working day each Quarter. 

As
a non-executive Director you are not entitled to participate in any of the Group's executive remuneration programmes or pension arrangements. 

Directors
are entitled to claim for all travelling, hotel and other expenses properly incurred by them in connection with their attendance at meetings of the Board or Committees of the Board, general
meetings or separate meetings of the holders of any class of shares or of debentures of the Company or otherwise in connection with the discharge of their duties. We would normally expect to meet
non-executive Directors' expenses for long-distance travel and hotels where an overnight stay is necessary. Expenses incurred should be submitted to my office for approval. 

Shareholding and dealing  

 I draw your attention to Article 112 onwards of the enclosed Articles of Association of the Company which deal with a number of matters relating to
Directors. Article 121 requires you to be a beneficial owner of 2,500 Prudential shares and to retain them during the tenure of your office. The Articles require that these shares be acquired
within two months of your appointment if you do not already have an interest in the required number of shares. 

Similarly,
the shares purchased on your behalf each Quarter must also be held whilst you are in office. 

Further
information relating Directors' interests in the Group's securities are contained in the supplemental letter, which deals with some of the practical aspects of your appointment. During your
term in office you will be subject to Prudential's Share Dealing Rules, full particulars of which can be found on our intranet site, Affinity. These are updated as required to reflect changes in
legislation and regulations, and will provide you with the necessary guidance on the steps you need to take and other considerations relating to share dealings. 

If
you have any questions on this please consult with Group Secretarial. The relevant announcement for the acquisition of shares on your behalf at the end of each Quarter will be made automatically.
Details of any other dealings need to be notified to Group Secretarial on the day of dealing so that the announcement can be made within the required time limit. 

Conflicts of interests and disclosure obligations  

 It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. In
the event that you become aware of any future potential conflicts of interest, these should be disclosed to me and the Company Secretary as soon as apparent, prior to accepting appointments. In
particular we would not wish our Directors to serve on the Boards of financial services competitors. 

The
Company has an obligation to record on its register of directors details of other directorships which are or were held during the past five years by its directors. This information, together with
non-statutory offices, is also required to be disclosed to insurance regulators in the US on an annual basis. Any changes in your external appointments, including non-statutory
offices, should be notified to the Company Secretary or Deputy Group Secretary on an ongoing basis. 

Confidentiality  

 All information acquired during your appointment is confidential to the Company and should not be released, either during your appointment or following
termination (by whatever means), to third parties without prior clearance from me. 

Your
attention is also drawn to the requirements under both legislation and regulation as to the disclosure of price sensitive information. Consequently you should avoid making any statements that
might risk a breach of these requirements without prior clearance from me or the Company Secretary. 

Induction  

 Following your appointment, the Company will provide a formal and tailored induction programme, details of which are enclosed. This will include meetings with
senior management and the Company's auditors. 

Board evaluation  

 The performance of individual Directors and the whole Board and its Committees is evaluated annually. If, in the interim, there are any matters which cause you
concern about your role you should discuss them with me as soon as is appropriate. 

Professional development  

 As a director you will be invited to appropriate educational and/or professional development programmes, determined as part of the annual Board evaluation
programme or by the Board generally. 

Directors and officers protection  

 The Company has directors' and officers' liability insurance and it is intended to maintain such cover for the full term of your appointment. A brief summary of
the cover can be found in Prudential's Guidance Notes for Directors, which is updated and issued to all Directors on a regular basis. 

The
Company has also resolved to provide you with indemnity cover for directors' and officers' liability within the limitations imposed by law. In addition, the Company will provide you with a limited
indemnity for certain personal liabilities you may suffer in the course of your appointment, subject again to applicable statutory and other limitations, pursuant to the Company's constitutional
documents or otherwise. 

The
Board has also resolved to have a discretionary payments policy (subject to regular review), the existence of which directors (executive and non-executive) and certain employees or
members of the Prudential Group may rely on, to protect them from personal liability arising out of the bona fide performance of their duties on behalf of the Group. 

Independent Professional Advice  

 Occasions may arise when you consider that you need professional advice in the furtherance of your duties as a Director. Circumstances may occur when it will be
appropriate for you to seek advice from independent advisors at the Company's expense. This would normally be arranged through the Company Secretary. The Company will reimburse the full cost of
expenditure incurred in accordance with the policy. Details of the agreed procedure under which Directors may obtain such independent advice can be found in the Prudential Guidance Notes for
Directors. 

Yours
sincerely 

/s/
David Clementi 

Sir
David Clementi

Chairman

Prudential plc 

Acknowledgement:  

	1.
	I
acknowledge that this appointment letter does not constitute a contract of employment.

	2.
	I
irrevocably instruct Prudential plc to deduct all relevant amounts from each quarterly fee payment due to me and to apply that amount in the purchase of shares on my behalf as set
out above.

	3.
	I
confirm that by having accepted this appointment, I am able to allocate sufficient time to meet the expectations of my role. 

	 
	 

	Signed:	/s/ M O Garrett

Ms Bridget Macaskill

160 East 81st Street

New York

NY 10028

10
June 2004 

Dear
Bridget 

PRUDENTIAL PLC—LETTER OF APPOINTMENT  

 This letter supersedes your previous letter of appointment dated 8 December 2003. The Board of Prudential plc (the "Company") appointed you as
non-executive Director with effect from 1 September 2003. I am now writing to set out the revised terms of your appointment. It is agreed that this is a contract for services
subject to the Company's Articles of Association as amended from time to time and does not constitute a contract of employment. 

Appointment  

 Your appointment was subject to election by shareholders at the AGM in 2004. Continuation of your appointment has been and will continue to be contingent on
satisfactory performance and re-election at forthcoming AGMs. Non-executive Directors are typically expected to serve two three-year terms from the date of
election by shareholders, although the Board may invite you to serve for an additional period. 

The
appointment may be terminated by and at the discretion of either party upon six months' written notice. Upon termination you will not be entitled to any compensation other than accrued
pro-rata fees and you shall also cease to be a member of any committee or sub-committee of the Board. All records, documents, accounts, letters and papers of every description
(including in particular Board and Committee agendas and minutes) within your possession or control relating to the affairs and business of the Group are and will remain the property of the Company,
and shall be returned to the Company. 

Time Commitment  

 We would continue to anticipate a time commitment as a Board member of approximately 12–14 days per year depending on the amount of time needed
for preparation. We currently schedule a total of 9 Board meetings per year one of which is followed by the AGM. In addition, the Board conducts a site visit to one of its businesses each year
and in addition meets together on a strategy day. Both events are either preceded by or followed by a scheduled Board meeting. Remuneration Committee meetings are held at least 3 times a year and
usually take place on the same day as Board meetings. We currently schedule six Audit Committee meetings a year and it would be reasonable to assume that membership of the Audit Committee requires at
least another 6 days, again depending on the amount of time needed for preparation. 

Whilst
we acknowledge that you have other commitments which may mean you will not be able to attend all meetings of the Board and relevant committees, you have confirmed by accepting this appointment
that you believe that you are able to allocate sufficient time to the Company's affairs to meet the demands of the role. The agreement of the Chairman should be sought before accepting additional
commitments that might impact on the time you are able to devote to your role as a non-executive Director of the Company. 

Role  

 Non-executive Directors have the same general legal responsibilities to the Company as any other Director. The Board as a whole is collectively
responsible for the success of the Company. The Board: 

	•
	Provides
entrepreneurial leadership of the Company within a framework of prudent and effective controls which enable risk to be assessed and managed; 

	•
	Sets
the Company's strategic aims, ensures that the necessary financial and human resources are in place for the company to meet its objectives, and reviews management
performance; and

	•
	Sets
the Company's values and standards and ensures that its obligations to its shareholders and others are understood and met. 

Directors
of any company must take decisions objectively in the interests of that company. A summary of responsibilities of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed. 

In
addition to these general requirements of all Directors, the role of the non-executive Director has the following key elements: 

	•
	Strategy.    Non-executive Directors should constructively challenge and help develop proposals on
strategy.

	•
	Performance.    Non-executive Directors should scrutinise the performance of management in meeting
agreed goals and objectives and monitor the reporting of performance. This is achieved both at the Board and on a more individual level through the Remuneration Committee, of which all
non-executive Directors are members.

	•
	Risk.    Non-executive Directors should satisfy themselves on the integrity of financial information
and that financial controls and systems of risk management are robust and defensible. This is achieved by escalating key issues to the Board either directly or via the Audit Committee. The Audit
Committee itself reviews the activities of the Group Risk Committee and the Disclosure Committee.

	•
	People.    Non-executive Directors have a prime role in appointing, and where necessary removing,
executive Directors and in succession planning. In addition, they are responsible for determining appropriate levels of remuneration for executive Directors. This business is mainly conducted via the
Remuneration Committee. 

Fees, committee membership and expenses  

 Non-executive members of the Board are required to serve on Committees of the Board. The three main Committees are Audit, Remuneration and Nomination.
The Chairman will discuss your Committee memberships with you from time to time. 

Non-executive
Directors' fees are subject to annual review by the Board and are currently £50,000 per annum for Board and Remuneration Committee membership accruing on a daily
basis and payable quarterly in arrears. Fees for Audit Committee membership are currently an additional £5,000 per annum. Fees are payable net of tax and National Insurance contributions
which Prudential is required to deduct, and are reviewed by the Board from time to time. 

£25,000
per annum of your gross fees will be deducted at source, in equal quarterly instalments, and the net amount after tax and National Insurance (if any) applied in the purchase of
ordinary shares in Prudential plc on your behalf. This transaction will continue to take place on the last working day each Quarter. 

As
a non-executive Director you are not entitled to participate in any of the Group's executive remuneration programmes or pension arrangements. 

Directors
are entitled to claim for all travelling, hotel and other expenses properly incurred by them in connection with their attendance at meetings of the Board or Committees of the Board, general
meetings or separate meetings of the holders of any class of shares or of debentures of the Company or otherwise in connection with the discharge of their duties. We would normally expect to meet
non-executive Directors' expenses for long-distance travel and hotels where an overnight stay is necessary. Expenses incurred should be submitted to the Chairman's office for
approval. 

Shareholding and dealing  

 The 2,500 qualification shares you purchased prior to or on appointment in accordance with Article 121 of Prudential's Articles of Association must be held
during the tenure of your office. Similarly, the shares purchased on your behalf each Quarter must also be held whilst you are in office. 

You
continue to be subject to Prudential's Share Dealing Rules, full particulars of which can be found on our intranet site, Affinity. These are updated as required to reflect changes in legislation
and regulations, and will provide you with the necessary guidance on the steps you need to take and other considerations relating to share dealings. 

If
you have any questions on this please consult with Group Secretarial. The relevant announcement for the acquisition of shares on your behalf at the end of each Quarter will be made automatically.
Details of any other dealings need to be notified to Group Secretarial on the day of dealing so that the announcement can be made within the required time limit. 

Conflicts of interests and disclosure obligations  

 It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. In
the event that you become aware of any future potential conflicts of interest, these should be disclosed to the Chairman and Company Secretary as soon as apparent, prior to accepting appointments. In
particular we would not wish our Directors to serve on the Boards of financial services competitors. 

The
Company has an obligation to record on its register of directors details of other directorships which are or were held during the past five years by its directors. This information, together with
non-statutory offices, is also required to be disclosed to insurance regulators in the US on an annual basis. Any changes in your external appointments, including non-statutory
offices, should be notified to the Company Secretary or Deputy Group Secretary on an ongoing basis. 

Confidentiality  

 All information acquired during your appointment is confidential to the Company and should not be released, either during your appointment or following
termination (by whatever means), to third parties without prior clearance from the Chairman. 

Your
attention is also drawn to the requirements under both legislation and regulation as to the disclosure of price sensitive information. Consequently you should avoid making any statements that
might risk a breach of these requirements without prior clearance from the Chairman or Company Secretary. 

Board evaluation  

 The performance of individual Directors and the whole Board and its Committees is evaluated annually. If, in the interim, there are any matters which cause you
concern about your role you should discuss them with the Chairman as soon as is appropriate. 

Professional development  

 As a director you will be invited to appropriate educational and/or professional development programmes, determined as part of the annual Board evaluation
programme or by the Board generally. 

Directors and officers protection  

 The Company has directors' and officers' liability insurance and it is intended to maintain such cover for the full term of your appointment. A brief summary of
the cover can be found in Prudential's Guidance Notes for Directors, which is updated and issued to all Directors on a regular basis. 

The
Company has also resolved to provide you with indemnity cover for directors' and officers' liability within the limitations imposed by law. The Company will also provide you with a limited
indemnity for certain personal liabilities you may suffer in the course of your appointment, subject again to applicable statutory and other limitations, pursuant to the Company's constitutional
documents or otherwise. 

In
addition, the Board has resolved to have a discretionary payments policy (subject to regular review), the existence of which directors (executive and non-executive) and certain
employees or members of the Prudential Group may rely on, to protect them from personal liability arising out of the bona fide performance of their duties on behalf of the Group. 

Independent Professional Advice  

 Occasions may arise when you consider that you need professional advice in the furtherance of your duties as a Director. Circumstances may occur when it will be
appropriate for you to seek advice from independent advisors at the Company's expense. This would normally be arranged through the Company Secretary. The Company will reimburse the full cost of
expenditure incurred in accordance with the policy. Details of the agreed procedure under which Directors may obtain such independent advice can be found in the Prudential Guidance Notes for
Directors. 

Yours
sincerely 

/s/
David Clementi 

Sir
David Clementi

Chairman

Prudential plc 

Acknowledgement:  

	1.
	I
acknowledge that this appointment letter does not constitute a contract of employment.

	2.
	I
irrevocably instruct Prudential plc to continue to deduct all relevant amounts from each quarterly fee payment due to me and to apply that amount in the purchase of shares on my
behalf as set out above.

	3.
	I
confirm that by having accepted this appointment, I have been and continue to be able to allocate sufficient time to meet the expectations of my role. 

	 
	 

	Signed:	/s/ B A Macaskill

Mr Roberto Mendoza

115 East 67th Street

Apartment 7D

New York

NY 10021 

10
June 2004 

Dear
Roberto 

PRUDENTIAL PLC—LETTER OF APPOINTMENT  

 This letter supersedes your previous letter of appointment dated 8 December 2003. The Board of Prudential plc (the "Company") appointed you as
non-executive Director with effect from 25 May 2000. I am now writing to set out the revised terms of your appointment. It is agreed that this is a contract for services subject to
the Company's Articles of Association as amended from time to time and does not constitute a contract of employment. 

Appointment  

 Your appointment was subject to election by shareholders at the AGM in 2001. Continuation of your appointment has been and will continue to be contingent on
satisfactory performance and re-election at forthcoming AGMs. Non-executive Directors are typically expected to serve two three-year terms from the date of
election by shareholders, although the Board may invite you to serve for an additional period. 

The
appointment may be terminated by and at the discretion of either party upon six months' written notice. Upon termination you will not be entitled to any compensation other than accrued
pro-rata fees and you shall also cease to be a member of any committee or sub-committee of the Board. All records, documents, accounts, letters and papers of every description
(including in particular Board and Committee agendas and minutes) within your possession or control relating to the affairs and business of the Group are and will remain the property of the Company,
and shall be returned to the Company. 

Time Commitment  

 We would continue to anticipate a time commitment as a Board member of approximately 12–14 days per year depending on the amount of time needed
for preparation. We currently schedule a total of 9 Board meetings per year one of which is followed by the AGM. In addition, the Board conducts a site visit to one of its businesses each year
and in addition meets together on a strategy day. Both events are either preceded by or followed by a scheduled Board meeting. Remuneration Committee meetings are held at least 3 times a year and
usually take place on the same day as Board meetings. We currently schedule six Audit Committee meetings a year and it would be reasonable to assume that membership of the Audit Committee requires at
least another 6 days, again depending on the amount of time needed for preparation. 

Whilst
we acknowledge that you have other commitments which may mean you will not be able to attend all meetings of the Board and relevant committees, you have confirmed by accepting this appointment
that you believe that you are able to allocate sufficient time to the Company's affairs to meet the demands of the role. The agreement of the Chairman should be sought before accepting additional
commitments that might impact on the time you are able to devote to your role as a non-executive Director of the Company. 

Role  

 Non-executive Directors have the same general legal responsibilities to the Company as any other Director. The Board as a whole is collectively
responsible for the success of the Company. The Board: 

	•
	Provides
entrepreneurial leadership of the Company within a framework of prudent and effective controls which enable risk to be assessed and managed;

	•
	Sets
the Company's strategic aims, ensures that the necessary financial and human resources are in place for the company to meet its objectives, and reviews management
performance; and

	•
	Sets
the Company's values and standards and ensures that its obligations to its shareholders and others are understood and met. 

Directors
of any company must take decisions objectively in the interests of that company. A summary of responsibilities of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed. 

In
addition to these general requirements of all Directors, the role of the non-executive Director has the following key elements: 

	•
	Strategy.    Non-executive Directors should constructively challenge and help develop proposals on
strategy.

	•
	Performance.    Non-executive Directors should scrutinise the performance of management in meeting
agreed goals and objectives and monitor the reporting of performance. This is achieved both at the Board and on a more individual level through the Remuneration Committee, of which all
non-executive Directors are members.

	•
	Risk.    Non-executive Directors should satisfy themselves on the integrity of financial information
and that financial controls and systems of risk management are robust and defensible. This is achieved by escalating key issues to the Board either directly or via the Audit Committee. The Audit
Committee itself reviews the activities of the Group Risk Committee and the Disclosure Committee.

	•
	People.    Non-executive Directors have a prime role in appointing, and where necessary removing,
executive Directors and in succession planning. In addition, they are responsible for determining appropriate levels of remuneration for executive Directors. This business is mainly conducted via the
Remuneration Committee. 

Fees, committee membership and expenses  

 Non-executive members of the Board are required to serve on Committees of the Board. The three main Committees are Audit, Remuneration and Nomination.
The Chairman will discuss your Committee memberships with you from time to time. 

Non-executive
Directors' fees are subject to annual review by the Board and are currently £50,000 per annum for Board and Remuneration Committee membership accruing on a daily
basis and payable quarterly in arrears. Fees for Audit Committee membership are currently an additional £5,000 per annum. Fees are payable net of tax and National Insurance contributions
which Prudential is required to deduct, and are reviewed by the Board from time to time. 

£25,000
per annum of your gross fees will be deducted at source, in equal quarterly instalments, and the net amount after tax and National Insurance (if any) applied in the purchase of
ordinary shares in Prudential plc on your behalf. This transaction will continue to take place on the last working day each Quarter. 

As
a non-executive Director you are not entitled to participate in any of the Group's executive remuneration programmes or pension arrangements. 

Directors
are entitled to claim for all travelling, hotel and other expenses properly incurred by them in connection with their attendance at meetings of the Board or Committees of the Board, general
meetings or separate meetings of the holders of any class of shares or of debentures of the Company or otherwise in connection with the discharge of their duties. We would normally expect to meet
non-executive Directors' expenses for long-distance travel and hotels where an overnight stay is necessary. Expenses incurred should be submitted to the Chairman's office for
approval. 

Shareholding and dealing  

 The 2,500 qualification shares you purchased prior to or on appointment in accordance with Article 121 of Prudential's Articles of Association must be held
during the tenure of your office. Similarly, the shares purchased on your behalf each Quarter must also be held whilst you are in office. 

You
continue to be subject to Prudential's Share Dealing Rules, full particulars of which can be found on our intranet site, Affinity. These are updated as required to reflect changes in legislation
and regulations, and will provide you with the necessary guidance on the steps you need to take and other considerations relating to share dealings. 

If
you have any questions on this please consult with Group Secretarial. The relevant announcement for the acquisition of shares on your behalf at the end of each Quarter will be made automatically.
Details of any other dealings need to be notified to Group Secretarial on the day of dealing so that the announcement can be made within the required time limit. 

Conflicts of interests and disclosure obligations  

 It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. In
the event that you become aware of any future potential conflicts of interest, these should be disclosed to the Chairman and Company Secretary as soon as apparent, prior to accepting appointments. In
particular we would not wish our Directors to serve on the Boards of financial services competitors. 

The
Company has an obligation to record on its register of directors details of other directorships which are or were held during the past five years by its directors. This information, together with
non-statutory offices, is also required to be disclosed to insurance regulators in the US on an annual basis. Any changes in your external appointments, including non-statutory
offices, should be notified to the Company Secretary or Deputy Group Secretary on an ongoing basis. 

Confidentiality  

 All information acquired during your appointment is confidential to the Company and should not be released, either during your appointment or following
termination (by whatever means), to third parties without prior clearance from the Chairman. 

Your
attention is also drawn to the requirements under both legislation and regulation as to the disclosure of price sensitive information. Consequently you should avoid making any statements that
might risk a breach of these requirements without prior clearance from the Chairman or Company Secretary. 

Board evaluation  

 The performance of individual Directors and the whole Board and its Committees is evaluated annually. If, in the interim, there are any matters which cause you
concern about your role you should discuss them with the Chairman as soon as is appropriate. 

Professional development  

 As a director you will be invited to appropriate educational and/or professional development programmes, determined as part of the annual Board evaluation
programme or by the Board generally. 

Directors and officers protection  

 The Company has directors' and officers' liability insurance and it is intended to maintain such cover for the full term of your appointment. A brief summary of
the cover can be found in Prudential's Guidance Notes for Directors, which is updated and issued to all Directors on a regular basis. 

The
Company has also resolved to provide you with indemnity cover for directors' and officers' liability within the limitations imposed by law. The Company will also provide you with a limited
indemnity for certain personal liabilities you may suffer in the course of your appointment, subject again to applicable statutory and other limitations, pursuant to the Company's constitutional
documents or otherwise. 

In
addition, the Board has resolved to have a discretionary payments policy (subject to regular review), the existence of which directors (executive and non-executive) and certain
employees or members of the Prudential Group may rely on, to protect them from personal liability arising out of the bona fide performance of their duties on behalf of the Group. 

Independent Professional Advice  

 Occasions may arise when you consider that you need professional advice in the furtherance of your duties as a Director. Circumstances may occur when it will be
appropriate for you to seek advice from independent advisors at the Company's expense. This would normally be arranged through the Company Secretary. The Company will reimburse the full cost of
expenditure incurred in accordance with the policy. Details of the agreed procedure under which Directors may obtain such independent advice can be found in the Prudential Guidance Notes for
Directors. 

Yours
sincerely 

/s/
David Clementi 

Sir
David Clementi

Chairman

Prudential plc 

Acknowledgement:  

	1.
	I
acknowledge that this appointment letter does not constitute a contract of employment.

	2.
	I
irrevocably instruct Prudential plc to continue to deduct all relevant amounts from each quarterly fee payment due to me and to apply that amount in the purchase of shares on my
behalf as set out above.

	3.
	I
confirm that by having accepted this appointment, I have been and continue to be able to allocate sufficient time to meet the expectations of my role. 

	 
	 

	Signed:	/s/ R G Mendoza

Ms Kathleen O'Donovan

3C Cintra Park

Upper Norwood

London

SE19 2LH 

10
June 2004 

Dear
Kathleen 

PRUDENTIAL PLC—LETTER OF APPOINTMENT  

 This letter supersedes your previous letter of appointment dated 8 December 2003. The Board of Prudential plc (the "Company") appointed you as
non-executive Director with effect from 8 May 2003. I am now writing to set out the revised terms of your appointment. It is agreed that this is a contract for services subject to
the Company's Articles of Association as amended from time to time and does not constitute a contract of employment. 

Appointment  

 Your appointment was subject to election by shareholders at the AGM in 2004. Continuation of your appointment has been and will continue to be contingent on
satisfactory performance and re-election at forthcoming AGMs. Non-executive Directors are typically expected to serve two three-year terms from the date of
election by shareholders, although the Board may invite you to serve for an additional period. 

The
appointment may be terminated by and at the discretion of either party upon six months' written notice. Upon termination you will not be entitled to any compensation other than accrued
pro-rata fees and you shall also cease to be a member of any committee or sub-committee of the Board. All records, documents, accounts, letters and papers of every description
(including in particular Board and Committee agendas and minutes) within your possession or control relating to the affairs and business of the Group are and will remain the property of the Company,
and shall be returned to the Company. 

Time Commitment  

 We would continue to anticipate a time commitment as a Board member of approximately 12–14 days per year depending on the amount of time needed
for preparation. We currently schedule a total of 9 Board meetings per year one of which is followed by the AGM. In addition, the Board conducts a site visit to one of its businesses each year
and in addition meets together on a strategy day. Both events are either preceded by or followed by a scheduled Board meeting. Remuneration Committee meetings are held at least 3 times a year and
usually take place on the same day as Board meetings. We currently schedule six Audit Committee meetings a year and it would be reasonable to assume that membership of the Audit Committee requires at
least another 6 days, again depending on the amount of time needed for preparation. 

Whilst
we acknowledge that you have other commitments which may mean you will not be able to attend all meetings of the Board and relevant committees, you have confirmed by accepting this appointment
that you believe that you are able to allocate sufficient time to the Company's affairs to meet the demands of the role. The agreement of the Chairman should be sought before accepting additional
commitments that might impact on the time you are able to devote to your role as a non-executive Director of the Company. 

Role  

 Non-executive Directors have the same general legal responsibilities to the Company as any other Director. The Board as a whole is collectively
responsible for the success of the Company. The Board: 

	•
	Provides
entrepreneurial leadership of the Company within a framework of prudent and effective controls which enable risk to be assessed and managed;

	•
	Sets
the Company's strategic aims, ensures that the necessary financial and human resources are in place for the company to meet its objectives, and reviews management
performance; and

	•
	Sets
the Company's values and standards and ensures that its obligations to its shareholders and others are understood and met. 

Directors
of any company must take decisions objectively in the interests of that company. A summary of responsibilities of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed. 

In
addition to these general requirements of all Directors, the role of the non-executive Director has the following key elements: 

	•
	Strategy.    Non-executive Directors should constructively challenge and help develop proposals on
strategy.

	•
	Performance.    Non-executive Directors should scrutinise the performance of management in meeting
agreed goals and objectives and monitor the reporting of performance. This is achieved both at the Board and on a more individual level through the Remuneration Committee, of which all
non-executive Directors are members.

	•
	Risk.    Non-executive Directors should satisfy themselves on the integrity of financial information
and that financial controls and systems of risk management are robust and defensible. This is achieved by escalating key issues to the Board either directly or via the Audit Committee. The Audit
Committee itself reviews the activities of the Group Risk Committee and the Disclosure Committee.

	•
	People.    Non-executive Directors have a prime role in appointing, and where necessary removing,
executive Directors and in succession planning. In addition, they are responsible for determining appropriate levels of remuneration for executive Directors. This business is mainly conducted via the
Remuneration Committee. 

Fees, committee membership and expenses  

 Non-executive members of the Board are required to serve on Committees of the Board. The three main Committees are Audit, Remuneration and Nomination.
The Chairman will discuss your Committee memberships with you from time to time. 

Non-executive
Directors' fees are subject to annual review by the Board and are currently £50,000 per annum for Board and Remuneration Committee membership accruing on a daily
basis and payable quarterly in arrears. Fees for Audit Committee membership are currently an additional £5,000 per annum. Fees are payable net of tax and National Insurance contributions
which Prudential is required to deduct, and are reviewed by the Board from time to time. 

£25,000
per annum of your gross fees will be deducted at source, in equal quarterly instalments, and the net amount after tax and National Insurance (if any) applied in the purchase of
ordinary shares in Prudential plc on your behalf. This transaction will continue to take place on the last working day each Quarter. 

As
a non-executive Director you are not entitled to participate in any of the Group's executive remuneration programmes or pension arrangements. 

Directors
are entitled to claim for all travelling, hotel and other expenses properly incurred by them in connection with their attendance at meetings of the Board or Committees of the Board, general
meetings or separate meetings of the holders of any class of shares or of debentures of the Company or otherwise in connection with the discharge of their duties. We would normally expect to meet
non-executive Directors' expenses for long-distance travel and hotels where an overnight stay is necessary. Expenses incurred should be submitted to the Chairman's office for
approval. 

Shareholding and dealing  

 The 2,500 qualification shares you purchased prior to or on appointment in accordance with Article 121 of Prudential's Articles of Association must be held
during the tenure of your office. Similarly, the shares purchased on your behalf each Quarter must also be held whilst you are in office. 

You
continue to be subject to Prudential's Share Dealing Rules, full particulars of which can be found on our intranet site, Affinity. These are updated as required to reflect changes in legislation
and regulations, and will provide you with the necessary guidance on the steps you need to take and other considerations relating to share dealings. 

If
you have any questions on this please consult with Group Secretarial. The relevant announcement for the acquisition of shares on your behalf at the end of each Quarter will be made automatically.
Details of any other dealings need to be notified to Group Secretarial on the day of dealing so that the announcement can be made within the required time limit. 

Conflicts of interests and disclosure obligations  

 It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. In
the event that you become aware of any future potential conflicts of interest, these should be disclosed to the Chairman and Company Secretary as soon as apparent, prior to accepting appointments. In
particular we would not wish our Directors to serve on the Boards of financial services competitors. 

The
Company has an obligation to record on its register of directors details of other directorships which are or were held during the past five years by its directors. This information, together with
non-statutory offices, is also required to be disclosed to insurance regulators in the US on an annual basis. Any changes in your external appointments, including non-statutory
offices, should be notified to the Company Secretary or Deputy Group Secretary on an ongoing basis. 

Confidentiality  

 All information acquired during your appointment is confidential to the Company and should not be released, either during your appointment or following
termination (by whatever means), to third parties without prior clearance from the Chairman. 

Your
attention is also drawn to the requirements under both legislation and regulation as to the disclosure of price sensitive information. Consequently you should avoid making any statements that
might risk a breach of these requirements without prior clearance from the Chairman or Company Secretary. 

Board evaluation  

 The performance of individual Directors and the whole Board and its Committees is evaluated annually. If, in the interim, there are any matters which cause you
concern about your role you should discuss them with the Chairman as soon as is appropriate. 

Professional development  

 As a director you will be invited to appropriate educational and/or professional development programmes, determined as part of the annual Board evaluation
programme or by the Board generally. 

Directors and officers protection  

 The Company has directors' and officers' liability insurance and it is intended to maintain such cover for the full term of your appointment. A brief summary of
the cover can be found in Prudential's Guidance Notes for Directors, which is updated and issued to all Directors on a regular basis. 

The
Company has also resolved to provide you with indemnity cover for directors' and officers' liability within the limitations imposed by law. The Company will also provide you with a limited
indemnity for certain personal liabilities you may suffer in the course of your appointment, subject again to applicable statutory and other limitations, pursuant to the Company's constitutional
documents or otherwise. 

In
addition, the Board has resolved to have a discretionary payments policy (subject to regular review), the existence of which directors (executive and non-executive) and certain
employees or members of the Prudential Group may rely on, to protect them from personal liability arising out of the bona fide performance of their duties on behalf of the Group. 

Independent Professional Advice  

 Occasions may arise when you consider that you need professional advice in the furtherance of your duties as a Director. Circumstances may occur when it will be
appropriate for you to seek advice from independent advisors at the Company's expense. This would normally be arranged through the Company Secretary. The Company will reimburse the full cost of
expenditure incurred in accordance with the policy. Details of the agreed procedure under which Directors may obtain such independent advice can be found in the Prudential Guidance Notes for
Directors. 

Yours
sincerely 

/s/
David Clementi 

Sir
David Clementi

Chairman

Prudential plc 

Acknowledgement:  

	1.
	I
acknowledge that this appointment letter does not constitute a contract of employment.

	2.
	I
irrevocably instruct Prudential plc to continue to deduct all relevant amounts from each quarterly fee payment due to me and to apply that amount in the purchase of shares on my
behalf as set out above.

	3.
	I
confirm that by having accepted this appointment, I have been and continue to be able to allocate sufficient time to meet the expectations of my role. 

	 
	 

	Signed:	/s/ K O'Donovan

Mr James Ross

Flat 4

55 Onslow Square

London

SW7 3LR 

10
June 2004 

Dear
James 

PRUDENTIAL PLC—LETTER OF APPOINTMENT  

 This letter supersedes your previous letter of appointment dated 23 April 2004. The Board of Prudential plc (the "Company") appointed you as
non-executive Director with effect from 6 May 2004. I am now writing to set out the revised terms of your appointment. It is agreed that this is a contract for services subject to
the Company's Articles of Association as amended from time to time and does not constitute a contract of employment. 

Appointment  

 Your appointment is subject to election by shareholders at the AGM in 2005. Continuation of your appointment has been and will continue to be contingent on
satisfactory performance and re-election at forthcoming AGMs. Non-executive Directors are typically expected to serve two three-year terms from the date of
election by shareholders, although the Board may invite you to serve for an additional period. 

The
appointment may be terminated by and at the discretion of either party upon six months' written notice. Upon termination you will not be entitled to any compensation other than accrued
pro-rata fees and you shall also cease to be a member of any committee or sub-committee of the Board. All records, documents, accounts, letters and papers of every description
(including in particular Board and Committee agendas and minutes) within your possession or control relating to the affairs and business of the Group are and will remain the property of the Company,
and shall be returned to the Company. 

Time Commitment  

 We would continue to anticipate a time commitment as a Board member of approximately 12–14 days per year depending on the amount of time needed
for preparation. We currently schedule a total of 9 Board meetings per year one of which is followed by the AGM. In addition, the Board conducts a site visit to one of its businesses each year
and in addition meets together on a strategy day. Both events are either preceded by or followed by a scheduled Board meeting. Remuneration Committee meetings are held at least 3 times a year and
usually take place on the same day as Board meetings. We currently schedule six Audit Committee meetings a year and it would be reasonable to assume that membership of the Audit Committee requires at
least another 6 days, again depending on the amount of time needed for preparation. 

Whilst
we acknowledge that you have other commitments which may mean you will not be able to attend all meetings of the Board and relevant committees, you have confirmed by accepting this appointment
that you believe that you are able to allocate sufficient time to the Company's affairs to meet the demands of the role. The agreement of the Chairman should be sought before accepting additional
commitments that might impact on the time you are able to devote to your role as a non-executive Director of the Company. 

Role  

 Non-executive Directors have the same general legal responsibilities to the Company as any other Director. The Board as a whole is collectively
responsible for the success of the Company. The Board: 

	•
	Provides
entrepreneurial leadership of the Company within a framework of prudent and effective controls which enable risk to be assessed and managed;

	•
	Sets
the Company's strategic aims, ensures that the necessary financial and human resources are in place for the company to meet its objectives, and reviews management
performance; and

	•
	Sets
the Company's values and standards and ensures that its obligations to its shareholders and others are understood and met. 

Directors
of any company must take decisions objectively in the interests of that company. A summary of responsibilities of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed. 

In
addition to these general requirements of all Directors, the role of the non-executive Director has the following key elements: 

	•
	Strategy.    Non-executive Directors should constructively challenge and help develop proposals on
strategy.

	•
	Performance.    Non-executive Directors should scrutinise the performance of management in meeting
agreed goals and objectives and monitor the reporting of performance. This is achieved both at the Board and on a more individual level through the Remuneration Committee, of which all
non-executive Directors are members.

	•
	Risk.    Non-executive Directors should satisfy themselves on the integrity of financial information
and that financial controls and systems of risk management are robust and defensible. This is achieved by escalating key issues to the Board either directly or via the Audit Committee. The Audit
Committee itself reviews the activities of the Group Risk Committee and the Disclosure Committee.

	•
	People.    Non-executive Directors have a prime role in appointing, and where necessary removing,
executive Directors and in succession planning. In addition, they are responsible for determining appropriate levels of remuneration for executive Directors. This business is mainly conducted via the
Remuneration Committee. 

Fees, committee membership and expenses  

 Non-executive members of the Board are required to serve on Committees of the Board. The three main Committees are Audit, Remuneration and Nomination.
The Chairman will discuss your Committee memberships with you from time to time. 

Non-executive
Directors' fees are subject to annual review by the Board and are currently £50,000 per annum for Board and Remuneration Committee membership accruing on a daily
basis and payable quarterly in arrears. Fees for Audit Committee membership are currently an additional £5,000 per annum. Fees are payable net of tax and National Insurance contributions
which Prudential is required to deduct, and are reviewed by the Board from time to time. 

£25,000
per annum of your gross fees will be deducted at source, in equal quarterly instalments, and the net amount after tax and National Insurance (if any) applied in the purchase of
ordinary shares in Prudential plc on your behalf. This transaction will continue to take place on the last working day each Quarter. 

As
a non-executive Director you are not entitled to participate in any of the Group's executive remuneration programmes or pension arrangements. 

Directors
are entitled to claim for all travelling, hotel and other expenses properly incurred by them in connection with their attendance at meetings of the Board or Committees of the Board, general
meetings or separate meetings of the holders of any class of shares or of debentures of the Company or otherwise in connection with the discharge of their duties. We would normally expect to meet
non-executive Directors' expenses for long-distance travel and hotels where an overnight stay is necessary. Expenses incurred should be submitted to the Chairman's office for
approval. 

Shareholding and dealing  

 The 2,500 qualification shares you purchased prior to or on appointment in accordance with Article 121 of Prudential's Articles of Association must be held
during the tenure of your office. Similarly, the shares purchased on your behalf each Quarter must also be held whilst you are in office. 

You
continue to be subject to Prudential's Share Dealing Rules, full particulars of which can be found on our intranet site, Affinity. These are updated as required to reflect changes in legislation
and regulations, and will provide you with the necessary guidance on the steps you need to take and other considerations relating to share dealings. 

If
you have any questions on this please consult with Group Secretarial. The relevant announcement for the acquisition of shares on your behalf at the end of each Quarter will be made automatically.
Details of any other dealings need to be notified to Group Secretarial on the day of dealing so that the announcement can be made within the required time limit. 

Conflicts of interests and disclosure obligations  

 It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. In
the event that you become aware of any future potential conflicts of interest, these should be disclosed to the Chairman and Company Secretary as soon as apparent, prior to accepting appointments. In
particular we would not wish our Directors to serve on the Boards of financial services competitors. 

The
Company has an obligation to record on its register of directors details of other directorships which are or were held during the past five years by its directors. This information, together with
non-statutory offices, is also required to be disclosed to insurance regulators in the US on an annual basis. Any changes in your external appointments, including non-statutory
offices, should be notified to the Company Secretary or Deputy Group Secretary on an ongoing basis. 

Confidentiality  

 All information acquired during your appointment is confidential to the Company and should not be released, either during your appointment or following
termination (by whatever means), to third parties without prior clearance from the Chairman. 

Your
attention is also drawn to the requirements under both legislation and regulation as to the disclosure of price sensitive information. Consequently you should avoid making any statements that
might risk a breach of these requirements without prior clearance from the Chairman or Company Secretary. 

Board evaluation  

 The performance of individual Directors and the whole Board and its Committees is evaluated annually. If, in the interim, there are any matters which cause you
concern about your role you should discuss them with the Chairman as soon as is appropriate. 

Professional development  

 As a director you will be invited to appropriate educational and/or professional development programmes, determined as part of the annual Board evaluation
programme or by the Board generally. 

Directors and officers protection  

 The Company has directors' and officers' liability insurance and it is intended to maintain such cover for the full term of your appointment. A brief summary of
the cover can be found in Prudential's Guidance Notes for Directors, which is updated and issued to all Directors on a regular basis. 

The
Company has also resolved to provide you with indemnity cover for directors' and officers' liability within the limitations imposed by law. The Company will also provide you with a limited
indemnity for certain personal liabilities you may suffer in the course of your appointment, subject again to applicable statutory and other limitations, pursuant to the Company's constitutional
documents or otherwise. 

In
addition, the Board has resolved to have a discretionary payments policy (subject to regular review), the existence of which directors (executive and non-executive) and certain
employees or members of the Prudential Group may rely on, to protect them from personal liability arising out of the bona fide performance of their duties on behalf of the Group. 

Independent Professional Advice  

 Occasions may arise when you consider that you need professional advice in the furtherance of your duties as a Director. Circumstances may occur when it will be
appropriate for you to seek advice from independent advisors at the Company's expense. This would normally be arranged through the Company Secretary. The Company will reimburse the full cost of
expenditure incurred in accordance with the policy. Details of the agreed procedure under which Directors may obtain such independent advice can be found in the Prudential Guidance Notes for
Directors. 

Yours
sincerely 

/s/
David Clementi 

Sir
David Clementi

Chairman

Prudential plc 

Acknowledgement:  

	1.
	I
acknowledge that this appointment letter does not constitute a contract of employment.

	2.
	I
irrevocably instruct Prudential plc to continue to deduct all relevant amounts from each quarterly fee payment due to me and to apply that amount in the purchase of shares on my
behalf as set out above.

	3.
	I
confirm that by having accepted this appointment, I have been and continue to be able to allocate sufficient time to meet the expectations of my role. 

	 
	 

	Signed:	/s/ James Ross

Mr Robert Rowley

The Old Receiving Station

Green End, Dane End

Nr Ware

Hertfordshire

SG12 0NU 

10
June 2004 

Dear
Rob 

PRUDENTIAL PLC—LETTER OF APPOINTMENT  

 This letter supersedes your previous letter of appointment dated 8 December 2003. The Board of Prudential plc (the "Company") appointed you as
non-executive Director with effect from 8 July 1999. I am now writing to set out the revised terms of your appointment. It is agreed that this is a contract for services subject to
the Company's Articles of Association as amended from time to time and does not constitute a contract of employment. 

Appointment  

 Your appointment was subject to election by shareholders at the AGM in 2000. Continuation of your appointment has been and will continue to be contingent on
satisfactory performance and re-election at forthcoming AGMs. Non-executive Directors are typically expected to serve two three-year terms from the date of
election by shareholders, although the Board may invite you to serve for an additional period. 

The
appointment may be terminated by and at the discretion of either party upon six months' written notice. Upon termination you will not be entitled to any compensation other than accrued
pro-rata fees and you shall also cease to be a member of any committee or sub-committee of the Board. All records, documents, accounts, letters and papers of every description
(including in particular Board and Committee agendas and minutes) within your possession or control relating to the affairs and business of the Group are and will remain the property of the Company,
and shall be returned to the Company. 

Time Commitment  

 We would continue to anticipate a time commitment as a Board member of approximately 12–14 days per year depending on the amount of time needed
for preparation. We currently schedule a total of 9 Board meetings per year one of which is followed by the AGM. In addition, the Board conducts a site visit to one of its businesses each year
and in addition meets together on a strategy day. Both events are either preceded by or followed by a scheduled Board meeting. Remuneration Committee meetings are held at least 3 times a year and
usually take place on the same day as Board meetings. We currently schedule six Audit Committee meetings a year and it would be reasonable to assume that membership of the Audit Committee requires at
least another 6 days, again depending on the amount of time needed for preparation. 

Whilst
we acknowledge that you have other commitments which may mean you will not be able to attend all meetings of the Board and relevant committees, you have confirmed by accepting this appointment
that you believe that you are able to allocate sufficient time to the Company's affairs to meet the demands of the role. The agreement of the Chairman should be sought before accepting additional
commitments that might impact on the time you are able to devote to your role as a non-executive Director of the Company. 

Role  

 Non-executive Directors have the same general legal responsibilities to the Company as any other Director. The Board as a whole is collectively
responsible for the success of the Company. The Board: 

	•
	Provides
entrepreneurial leadership of the Company within a framework of prudent and effective controls which enable risk to be assessed and managed;

	•
	Sets
the Company's strategic aims, ensures that the necessary financial and human resources are in place for the company to meet its objectives, and reviews management
performance; and

	•
	Sets
the Company's values and standards and ensures that its obligations to its shareholders and others are understood and met. 

Directors
of any company must take decisions objectively in the interests of that company. A summary of responsibilities of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed. 

In
addition to these general requirements of all Directors, the role of the non-executive Director has the following key elements: 

	•
	Strategy.    Non-executive Directors should constructively challenge and help develop proposals on
strategy.

	•
	Performance.    Non-executive Directors should scrutinise the performance of management in meeting
agreed goals and objectives and monitor the reporting of performance. This is achieved both at the Board and on a more individual level through the Remuneration Committee, of which all
non-executive Directors are members.

	•
	Risk.    Non-executive Directors should satisfy themselves on the integrity of financial information
and that financial controls and systems of risk management are robust and defensible. This is achieved by escalating key issues to the Board either directly or via the Audit Committee. The Audit
Committee itself reviews the activities of the Group Risk Committee and the Disclosure Committee.

	•
	People.    Non-executive Directors have a prime role in appointing, and where necessary removing,
executive Directors and in succession planning. In addition, they are responsible for determining appropriate levels of remuneration for executive Directors. This business is mainly conducted via the
Remuneration Committee. 

Fees, committee membership and expenses  

 Non-executive members of the Board are required to serve on Committees of the Board. The three main Committees are Audit, Remuneration and Nomination.
The Chairman will discuss your Committee memberships with you from time to time. 

Non-executive
Directors' fees are subject to annual review by the Board and are currently £50,000 per annum for Board and Remuneration Committee membership accruing on a daily
basis and payable quarterly in arrears. Fees for Audit Committee membership are currently an additional £5,000 per annum. Fees are payable net of tax and National Insurance contributions
which Prudential is required to deduct, and are reviewed by the Board from time to time. 

£25,000
per annum of your gross fees will be deducted at source, in equal quarterly instalments, and the net amount after tax and National Insurance (if any) applied in the purchase of
ordinary shares in Prudential plc on your behalf. This transaction will continue to take place on the last working day each Quarter. 

As
a non-executive Director you are not entitled to participate in any of the Group's executive remuneration programmes or pension arrangements. 

Directors
are entitled to claim for all travelling, hotel and other expenses properly incurred by them in connection with their attendance at meetings of the Board or Committees of the Board, general
meetings or separate meetings of the holders of any class of shares or of debentures of the Company or otherwise in connection with the discharge of their duties. We would normally expect to meet
non-executive Directors' expenses for long-distance travel and hotels where an overnight stay is necessary. Expenses incurred should be submitted to the Chairman's office for
approval. 

Shareholding and dealing  

 The 2,500 qualification shares you purchased prior to or on appointment in accordance with Article 121 of Prudential's Articles of Association must be held
during the tenure of your office. Similarly, the shares purchased on your behalf each Quarter must also be held whilst you are in office. 

You
continue to be subject to Prudential's Share Dealing Rules, full particulars of which can be found on our intranet site, Affinity. These are updated as required to reflect changes in legislation
and regulations, and will provide you with the necessary guidance on the steps you need to take and other considerations relating to share dealings. 

If
you have any questions on this please consult with Group Secretarial. The relevant announcement for the acquisition of shares on your behalf at the end of each Quarter will be made automatically.
Details of any other dealings need to be notified to Group Secretarial on the day of dealing so that the announcement can be made within the required time limit. 

Conflicts of interests and disclosure obligations  

 It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. In
the event that you become aware of any future potential conflicts of interest, these should be disclosed to the Chairman and Company Secretary as soon as apparent, prior to accepting appointments. In
particular we would not wish our Directors to serve on the Boards of financial services competitors. 

The
Company has an obligation to record on its register of directors details of other directorships which are or were held during the past five years by its directors. This information, together with
non-statutory offices, is also required to be disclosed to insurance regulators in the US on an annual basis. Any changes in your external appointments, including non-statutory
offices, should be notified to the Company Secretary or Deputy Group Secretary on an ongoing basis. 

Confidentiality  

 All information acquired during your appointment is confidential to the Company and should not be released, either during your appointment or following
termination (by whatever means), to third parties without prior clearance from the Chairman. 

Your
attention is also drawn to the requirements under both legislation and regulation as to the disclosure of price sensitive information. Consequently you should avoid making any statements that
might risk a breach of these requirements without prior clearance from the Chairman or Company Secretary. 

Board evaluation  

 The performance of individual Directors and the whole Board and its Committees is evaluated annually. If, in the interim, there are any matters which cause you
concern about your role you should discuss them with the Chairman as soon as is appropriate. 

Professional development  

 As a director you will be invited to appropriate educational and/or professional development programmes, determined as part of the annual Board evaluation
programme or by the Board generally. 

Directors and officers protection  

 The Company has directors' and officers' liability insurance and it is intended to maintain such cover for the full term of your appointment. A brief summary of
the cover can be found in Prudential's Guidance Notes for Directors, which is updated and issued to all Directors on a regular basis. 

The
Company has also resolved to provide you with indemnity cover for directors' and officers' liability within the limitations imposed by law. The Company will also provide you with a limited
indemnity for certain personal liabilities you may suffer in the course of your appointment, subject again to applicable statutory and other limitations, pursuant to the Company's constitutional
documents or otherwise. 

In
addition, the Board has resolved to have a discretionary payments policy (subject to regular review), the existence of which directors (executive and non-executive) and certain
employees or members of the Prudential Group may rely on, to protect them from personal liability arising out of the bona fide performance of their duties on behalf of the Group. 

Independent Professional Advice  

 Occasions may arise when you consider that you need professional advice in the furtherance of your duties as a Director. Circumstances may occur when it will be
appropriate for you to seek advice from independent advisors at the Company's expense. This would normally be arranged through the Company Secretary. The Company will reimburse the full cost of
expenditure incurred in accordance with the policy. Details of the agreed procedure under which Directors may obtain such independent advice can be found in the Prudential Guidance Notes for
Directors. 

Yours
sincerely 

/s/
David Clementi 

Sir
David Clementi

Chairman

Prudential plc 

Acknowledgement:  

	1.
	I
acknowledge that this appointment letter does not constitute a contract of employment.

	2.
	I
irrevocably instruct Prudential plc to continue to deduct all relevant amounts from each quarterly fee payment due to me and to apply that amount in the purchase of shares on my
behalf as set out above.

	3.
	I
confirm that by having accepted this appointment, I have been and continue to be able to allocate sufficient time to meet the expectations of my role. 

	 
	 

	Signed:	/s/ R O Rowley

QuickLinks

Exhibit 4.6

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