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Prudential Developing Markets Fund
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Prudential Developing Markets Equity Fund
SUPPLEMENT DATED MAY 24, 2000
PROSPECTUS DATED AUGUST 10, 1999
The following supplements the information contained in the Prospectus on page
23 under 'How to Buy, Sell and Exchange Shares of the Fund--How to Buy Shares':
Effective immediately, shares of the Fund may no longer be purchased by any
existing shareholder accounts except Retirement Programs, PruArray Association
Benefit Plans and PruArray Savings Programs that are currently shareholders, and
successor or related programs and plans. On May 23, 2000, the Board of Trustees
decided it was in the shareholders' best interests to liquidate the Fund as soon
as practicable and no later than July 28, 2000. The Fund previously had
suspended the sale of shares to new accounts on May 4, 2000 because the Fund's
Board of Trustees was considering the Fund's future, including whether to
liquidate the Fund or merge it into another Prudential mutual fund. The current
exchange privilege of obtaining shares of other Prudential mutual funds and the
current redemption rights remain in effect. At March 31, 2000, the Fund's assets
were approximately $33.3 million and the General Account of The Prudential
Insurance Company of America owned about 90% of the shares outstanding.
The following information supplements page 4 of the Prospectus--'Fees and
Expenses':
The Fund's Manager has agreed to waive its management fees effective May 24,
2000. The Distributor has also agreed to waive its distribution and service
(12b-1) fees effective as of May 3, 2000.
MF179C1
