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SIGNATURE GRACE TORRES
TITLE TREASURER
For the fiscal period ended (a) 6/30/99
File number (c) 811-2896
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Charter Communications Holdings, LLC
2. Date of Purchase
3/12/99
3. Number of Securities Purchased
27,500
4. Dollar Amount of Purchase
$2,742,658
5. Price Per Unit
$99.733
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Goldman Sachs
7. Other Members of the Underwriting Syndicate
Donaldson, Lufkin & Jenrette
Prudential Securities Incorporated
Chase Securities Inc.
Bear, Stearns & Co. Inc.
NationsBanc Montgomery
Securities LLC
Salomon Smith Barney
Credit Lyonnais Securities
First Union Capital Markets
TD Securities
CIBC Oppenheimer
Nesbitt Burns Securities Inc.
For the fiscal period ended (a) 6/30/99
File number (c) 811-2896
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Charter Communications Holdings, LLC
2. Date of Purchase
3/12/99
3. Number of Securities Purchased
225,000
4. Dollar Amount of Purchase
$22,431,375
5. Price Per Unit
$99.695
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Goldman Sachs
7. Other Members of the Underwriting Syndicate
Donaldson, Lufkin & Jenrette
Prudential Securities Incorporated
Chase Securities Inc.
Bear, Stearns & Co. Inc.
NationsBanc Montgomery
Securities LLC
Salomon Smith Barney
Credit Lyonnais Securities
First Union Capital Markets
TD Securities
CIBC Oppenheimer
Nesbitt Burns Securities Inc.
For the fiscal period ended (a) 6/30/99
File number (c) 811-2896
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
1. Name of Issuer
Charter Communications Holdings, LLC
2. Date of Purchase
3/12/99
3. Number of Securities Purchased
395,000
4. Dollar Amount of Purchase
$24,250,630
5. Price Per Unit
$61.394
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Goldman Sachs
7. Other Members of the Underwriting Syndicate
Donaldson, Lufkin & Jenrette
Prudential Securities Incorporated
Chase Securities Inc.
Bear, Stearns & Co. Inc.
NationsBanc Montgomery
Securities LLC
Salomon Smith Barney
Credit Lyonnais Securities
First Union Capital Markets
TD Securities
CIBC Oppenheimer
Nesbitt Burns Securities Inc.
To the Shareholders and Board of Directors of
Prudential High Yield Fund, Inc.
(2)
Report of Independent Accountants
To the Shareholders and Board of Directors of
Prudential High Yield Fund, Inc.
In planning and performing our audit of the financial
statements of Prudential High Yield Fund, Inc., (the "Fund")
for the year ended December 31, 1999, we considered its
internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR,
not to provide assurance on internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that controls may become inadequate because of changes
in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness
is a condition in which the design or operation of one or more
of the internal control components does not reduce to a
relatively low level the risk that misstatements caused by
error or fraud in amounts that would be material in relation to
the financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving internal control and its operation,
including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of
the Board of Directors, management and the Securities and
Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties.
PricewaterhouseCoopers LLP
February 17, 2000
Prudential High Yield Fund, Inc.
SOP Adjustment Footnote
December 31, 1999
(Sub-Item 77.J)
Reclassification of Capital Accounts. The Fund
accounts for and reports distributions to
shareholders in accordance with AICPA Statement of
Positions 93-2: Determination, Disclosure, and
Financial Statement Presentation of Income, Capital
Gain, and Return of Capital Distributions by
Investment Companies. The effect of applying this
statement was to decrease distributions in excess
of net investment income by $1,978,918, decrease
accumulated net realized loss on investments by
$75,902,012 and decrease paid in capital in excess
of par by $77,880,930. This was primarily due to
the sale of securities purchased with market
discount and the expiration of a portion of capital
loss carryforward for the year ended December 31,
1999. Net investment income, net realized gains
and net assets were not affected by this change.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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[AVG-DEBT-OUTSTANDING] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000278187
<NAME> PRUDENTIAL HIGH YIELD FUND
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<NAME> PRUDENTIAL HIGH YIELD FUND (CLASS Z)
<S> <C>
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[AVG-DEBT-OUTSTANDING] 0.00
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
