SUPPLEMENT DATED SEPTEMBER 1, 1998 TO PROSPECTUS DATED MAY 1, 1998
PRUCO LIFE OF NEW JERSEY FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT
VARIABLE ANNUITY CONTRACTS
DISCOVERY SELECT (R) VARIABLE ANNUITY
THE PROSPECTUS IS HEREBY AMENDED AS FOLLOWS:
1. FEE TABLE
The table entitled "Annual Expenses of the Funds (as a percentage of portfolio
average net assets)" beginning on page 2 of the Prospectus is hereby amended to
add the following portfolios and funds:
<TABLE>
<CAPTION>
TOTAL FUND ANNUAL
INVESTMENT OTHER EXPENSES (AFTER EXPENSE
MANAGEMENT FEE EXPENSES REIMBURSEMENTS)
-------------- -------- -----------------------
<S> <C> <C> <C>
THE PRUDENTIAL SERIES FUND, INC.
Small Capitalization Stock
Portfolio .40% .10% .50%
AMERICAN CENTURY VARIABLE
PORTFOLIOS, INC.(7)
American Century VP Value 1.00% 0% 1.00%
TEMPLETON VARIABLE PRODUCTS
SERIES FUND(8)
Franklin Small Cap Investments
Fund-Class 2 .40% .85% 1.25%
</TABLE>
- ----------------
(7) American Century Variable Portfolios, Inc. VP Value pays its investment
manager a unified management fee, which includes payment for substantially
all fund expenses. "Other Expenses" which are paid by the fund and include
the fees and expenses (including legal counsel fees) of the directors who
are not "interested persons" as defined in the Investment Company Act of
1940, are expected to be less than 0.01 of 1% of the net assets of the fund
each year.
<PAGE>
(8) Templeton Variable Products Series Fund ("Trust"). Class 2 of the Trust's
Franklin Small Cap Investments Fund ("Fund") has a distribution plan or
"Rule 12b-1 Plan" which is described in the Fund's prospectus. The figure
for "other expenses," above includes Rule 12b-1 Fees of 0.25%. Franklin
Advisers, Inc. has agreed in advance to waive management fees and make
certain payments to reduce Fund expenses as necessary so that Total Fund
Operating Expenses do not exceed 1.25% of the Fund's Class 2 net assets
through 1998. The Investment Manager may end this arrangement at a later
date. Estimated Management Fees, Other Expenses (including 12b-1
Fees) and Total Fund Operating Expenses before any waivers would be 0.75%,
0.85% and 1.60%, respectively. Expenses are based on estimated expenses for
the fiscal year.
The table entitled "Table I" on page 5 of the Prospectus is hereby amended to
add the following portfolios and funds:
<TABLE>
<CAPTION>
1 YEAR 3 YEARS 5 YEARS 10 YEARS
-------- -------- -------- --------
<S> <C> <C> <C> <C>
The Prudential Series Fund, Inc.
Small Capitalization Stock Portfolio $83 $ 97 $121 $229
American Century Variable Portfolios, Inc.
American Century VP Value $88 $112 $146 $280
Templeton Variable Products Series Fund, Inc.
Franklin Small Cap Investments Fund-Class 2 $90 $119 $159 $304
The table entitled "Table II" on page 6 of the Prospectus is hereby amended to
add the following portfolios and funds:
1 YEAR 3 YEARS 5 YEARS 10 YEARS
-------- -------- -------- --------
<S> <C> <C> <C> <C>
The Prudential Series Fund, Inc.
Small Capitalization Stock Portfolio $20 $62 $106 $229
American Century Variable Portfolios, Inc.
American Century VP Value $25 $77 $131 $280
Templeton Variable Products Series Fund
Franklin Small Cap Investments Fund-Class 2 $27 $84 $144 $304
</TABLE>
2. GENERAL INFORMATION ABOUT PRUCO LIFE OF NEW JERSEY, THE PRUCO LIFE OF NEW
JERSEY FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT, AND THE INVESTMENT
OPTIONS AVAILABLE UNDER THE CONTRACT
The paragraph entitled, "The Funds", on page 8 of the Prospectus is hereby
amended to add the following Funds:
THE PRUDENTIAL SERIES FUND, Inc.
SMALL CAPITALIZATION STOCK PORTFOLIO. Long-term growth of capital through
investment primarily in equity securities of publicly-traded companies with
small market capitalization. Current income, if any, is incidental.
AMERICAN CENTURY VARIABLE PORTFOLIOS, INC.
AMERICAN CENTURY VP VALUE. Long-term capital growth with income as a secondary
objective. The fund seeks to achieve its objective by investing primarily in
<PAGE>
equity securities of well-established companies with intermediate-to-large
market capitalizations that are believed by management to be undervalued at the
time of purchase.
American Century Investment Management, Inc. is the investment advisor for
American Century VP Value.
TEMPLETON VARIABLE PRODUCTS SERIES FUND
FRANKLIN SMALL CAP INVESTMENTS FUND-CLASS 2. Long-term capital growth. The fund
seeks to accomplish its objective by investing primarily in equity securities of
smaller capitalization growth companies.
Franklin Advisers, Inc. is the investment manager for Franklin Small Cap
Investments Fund-Class 2.
A FULL DESCRIPTION OF THE FUNDS, THEIR INVESTMENT OBJECTIVES, MANAGEMENT,
POLICIES, AND RESTRICTIONS, THEIR EXPENSES, THE RISKS ATTENDANT TO INVESTMENT
THEREIN, AND ALL OTHER ASPECTS OF THEIR OPERATION IS CONTAINED IN THE
ACCOMPANYING PROSPECTUSES FOR EACH FUND AND IN THE RELATED STATEMENTS OF
ADDITIONAL INFORMATION, WHICH SHOULD BE READ IN CONJUNCTION WITH THIS PROSPECTUS
SUPPLEMENT. THERE IS NO ASSURANCE THAT THE INVESTMENT OBJECTIVES WILL BE MET.
<PAGE>
SUPPLEMENT DATED SEPTEMBER 1, 1998 TO PROFILE DATED MAY 1, 1998
PRUCO LIFE OF NEW JERSEY FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUT VARIABLE
ANNUITY CONTRACTS
DISCOVERY SELECT (R) VARIABLE ANNUITY
THE PROSPECTUS PROFILE IS HEREBY AMENDED AS FOLLOWS:
The following investment options are added to paragraph numbered 4:
THE PRUDENTIAL SERIES FUND, INC.
Advised by: Prudential Investment Corporation
Small Capitalization Stock Portfolio
AMERICAN CENTURY VARIABLE PORTFOLIOS, INC.
Advised by: American Century Investment Management, Inc.
American Century VP Value
TEMPLETON VARIABLE PRODUCTS SERIES FUND
Advised by: Franklin Advisers, Inc.
Franklin Small Cap Investments Fund-Class 2
The chart of expenses on page 4 is hereby amended to add the following
portfolios and funds:
<TABLE>
<CAPTION>
| TOTAL TOTAL
| ANNUAL ANNUAL
TOTAL TOTAL | CHARGES CHARGES
ANNUAL ANNUAL TOTAL | AT END OF AT END OF
INSURANCE POTFOLIO ANNUAL | 1 YEAR 10 YEARS
PORTFOLIO CHARGES CHARGES CHARGES | (1) (2)
--------- --------- -------- ------- | --------- ---------
<S> <C> <C> <C> | <C> <C>
THE PRUDENTIAL SERIES FUND, INC. |
Small Capitalization Stock Portfolio 1.49% 0.50% 1.99% | $82 $221
|
AMERICAN CENTURY VARIABLE PORTFOLIOS, INC. |
American Century VP Value 1.49% 1.00% 2.49% | $88 $280
|
TEMPLETON VARIABLE PRODUCTS SERIES FUND |
Franklin Small Cap Investments Fund-Class 2 1.49% 1.25% 2.74% | $90 $304
</TABLE>
