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Prudential Mutual Funds
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SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED JULY 23, 1999
Purchase, Redemption and Pricing of Fund Shares
The section entitled 'Purchase, Redemption and Pricing of Fund Shares' is
amended as follows:
The first five paragraphs under 'Reduction and Waiver of Initial Sales
Charge--Class A Shares' are amended to read in their entirety as follows:
Benefit Plans. Certain group retirement and savings plans may purchase
Class A shares without the initial sales charge if they meet the required
minimum for amount of assets, average account balance or number of eligible
employees. For more information about these requirements, call Prudential
at (800) 353-2847.
The following is added after the end of the first paragraph under
'Reduction and Waiver of Initial Sales Charge--Class A Shares--Other Waivers':
Class A shares may also be purchased at NAV by members of the Board of
Directors of The Prudential Insurance Company of America.
Broker-dealers, investment advisers or financial planners sponsoring
fee-based programs (such as mutual fund 'wrap' or asset allocation programs
and mutual fund 'supermarket' programs) may offer their clients more than one
class of shares in the Fund(s) in connection with different pricing options
for their programs. Investors should consider carefully any separate
transaction and other fees charged by these programs in connection with
investing in each available share class before selecting a share class.
The section entitled 'Reduction and Waiver of Initial Sales Charge--Class A
Shares--Letters of Intent' is amended as follows:
MF990C9
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Retirement and group plans no longer qualify to purchase Class A shares at
NAV by entering into a Letter of Intent. All references to 'Participant
Letters of Intent' are hereby deleted.
The first two paragraphs under 'Waiver of Initial Sales Charge--Class C
Shares' are amended to read in their entirety as follows (not applicable to
Prudential Government Securities Trust):
Benefit Plans. Certain group retirement plans may purchase Class C shares
without the initial sales charge. For more information, call Prudential at
(800) 353-2847.
The first two paragraphs under 'Class Z Shares' are amended to read in their
entirety as follows (not applicable to Prudential Distressed Securities Fund,
Inc.):
Benefit Plans. Certain group retirement plans may purchase Class Z shares
if they meet the required minimum for amount of assets, average account
balance or number of eligible employees. For more information about these
requirements, call Prudential at (800) 353-2847.
Mutual Fund Programs. Class Z shares can also be purchased by participants
in any fee-based program or trust program sponsored by Prudential or an
affiliate that includes the Fund(s) as an available option. Class Z shares
can also be purchased by investors in certain programs sponsored by
broker-dealers, investment advisers and financial planners who have
agreements with Prudential Investments Advisory Group relating to:
- Mutual fund 'wrap' or asset allocation programs, where the sponsor
places Fund trades, links its clients' accounts to a master account in
the sponsor's name and charges its clients a management, consulting or
other fee for its services; or
- Mutual fund 'supermarket' programs, where the sponsor links its clients'
accounts to a master account in the sponsor's name and the sponsor
charges a fee for its services.
Broker-dealers, investment advisers or financial planners sponsoring
these mutual fund programs may offer their clients more than one class of
shares in the Fund(s) in connection with different pricing options for
their programs. Investors should consider carefully any separate
transaction and other fees charged by these programs in connection with
investing in each available share class before selecting a share class.
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Other Types of Investors. Class Z shares are also available for
purchase by the following categories of investors:
- Certain participants in the MEDLEY Program (group variable annuity
contracts) sponsored by Prudential for whom Class Z shares of the
Prudential mutual funds are an available investment option;
- Current and former Directors/Trustees of the Prudential mutual funds
(including the Fund/Company); and
- Prudential, with an investment of $10 million or more.
The second and third paragraphs under 'Sale of Shares--Waiver of Contingent
Deferred Sales Charge--Class B Shares' are amended to read in their entirety as
follows (not applicable to Prudential Government Securities Trust):
The CDSC will also be waived in the case of a total or partial
redemption in connection with certain distributions made without penalty
under the Internal Revenue Code from a tax-deferred retirement plan, an IRA
or Section 403(b) custodial account. For more information, call Prudential at
(800) 353-2847.
The section entitled 'Sale of Shares--Waiver of Contingent Deferred Sales
Charge--Class C Shares' is amended to read in its entirety as follows (not
applicable to Prudential Government Securities Trust):
Benefit Plans. The CDSC will be waived for redemptions by certain group
retirement plans for which Prudential or brokers not affiliated with
Prudential provide administrative or recordkeeping services. The CDSC will
also be waived for certain redemptions by benefit plans sponsored by
Prudential and its affiliates. For more information, call Prudential at
(800) 353-2847.
Listed below are the names of the Prudential mutual funds and the date of
each Statement of Additional Information (SAI) to which this supplement relates.
<TABLE>
<CAPTION>
<S> <C>
Name of Fund SAI Date
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Nicholas-Applegate Fund, Inc. March 15, 1999
Prudential Distressed Securities Fund,
Inc. February 5, 1999
Prudential Diversified Bond Fund, Inc. March 2, 1999
Prudential Emerging Growth Fund, Inc. January 14, 1999
Prudential Equity Fund, Inc. March 1, 1999
Prudential Equity Income Fund January 14, 1999
</TABLE>
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<TABLE>
<CAPTION>
<S> <C>
Name of Fund SAI Date
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Prudential Global Limited Maturity Fund,
Inc. January 22, 1999
Prudential Government Income Fund, Inc. May 18, 1999
Prudential High Yield Fund, Inc. March 3, 1999
Prudential High Yield Total Return Fund,
Inc. June 1, 1999
Prudential Intermediate Global Income
Fund, Inc. March 16, 1999
Prudential International Bond Fund, Inc. March 16, 1999
Prudential Mid-Cap Value Fund April 28, 1999
Prudential Pacific Growth Fund, Inc. February 25, 1999
Prudential Real Estate Securities Fund June 2, 1999
Prudential Sector Funds, Inc. May 20, 1999
Prudential Financial Services Fund
Prudential Health Sciences Fund
Prudential Technology Fund
Prudential Utility Fund
Prudential Small-Cap Quantum Fund, Inc. May 27, 1999
Prudential Structured Maturity Fund, Inc. March 1, 1999
Prudential Tax-Managed Equity Fund January 20, 1999
Prudential World Fund, Inc. January 20, 1999
Global Series
International Stock Series
Prudential 20/20 Focus Fund April 26, 1999
The Global Total Return Fund, Inc. March 1, 1999
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