Prudential Mortgage Capital Co. Completes Tender Offer For WMF Group

June 22, 2000

As a result of the successful offer, Prudential Mortgage Capital Company, LLC intends to effect a “short-form” merger as a result of which WMF will become a wholly owned subsidiary of Prudential Mortgage Capital Company, LLC.All shareholders of WMF who did not tender all their shares in the tender offer will be entitled to receive the $8.90 cash price for each of their shares.

Prudential, with more than $366 billion in assets under management as of December 31, 1999, is one of the largest life insurance companies in the United States and is among the largest financial institutions in the world.

Prudential serves more than 17 million individual and institutional customers worldwide, offering a variety of products and services, including life insurance, property and casualty insurance, mutual funds, annuities, pension and retirement related investments and administration, asset management, securities brokerage, and real estate and relocation.

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