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PRUDENTIAL MUNICIPAL
SERIES FUND
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(CONNECTICUT MONEY MARKET SERIES AND
MASSACHUSETTS MONEY MARKET SERIES)
Supplement Dated November 3, 2000
Prospectus Dated November 3, 2000
The Board of Trustees of Prudential Municipal Series Fund (the Fund) has
approved a proposal to exchange the assets and liabilities of each of the
Connecticut Money Market Series and Massachusetts Money Market Series (each
individually, a Series, and collectively, the Series) of the Fund for shares of
Prudential Tax-Free Money Fund, Inc. (Tax-Free Money Fund). Shares of each
Series would be exchanged at net asset value for Class A shares of equivalent
value of Tax-Free Money Fund.
The transfer has been approved with respect to each Series by the Trustees of
the Fund and by the Board of Directors of Tax-Free Money Fund and is subject to
approval by the shareholders of each Series. The shareholders' meeting with
respect to each Series is anticipated to be rescheduled from its previous date
of December 2000. The new date that a proxy statement/prospectus relating to the
transactions will be mailed to each Series' shareholders is anticipated to be
determined by the Board of Trustees of the Fund at their next regularly
scheduled Board Meeting in November, 2000.
Under the terms of the proposal, shareholders of the Series would become
shareholders of Tax-Free Money Fund. Due to the nature of each Series, the
Tax-Free Money Fund and their respective portfolios, it is unclear whether the
proposed transfers will qualify as tax-free reorganizations for federal tax
purposes. However, it is anticipated that there will be no significant federal
tax consequences to either Series' shareholders as a result of the proposed
transfers. No sales charges would be imposed on the proposed transfers.
MF2000C9
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As of August 24, 2000, the Fund no longer accepts orders to purchase or
exchange into shares of any class, except for (1) shareholders who have elected
to reinvest dividends and/or distributions, (2) current shareholders
participating in automatic investment plans and (3) purchases made through the
Autosweep or Advantage Account Program or any other money market sweep program.
The current exchange privilege of obtaining shares of other Prudential Mutual
Funds and the current redemption rights will remain in effect until the
transactions are consummated.
The investment objective of Tax-Free Money Fund is to seek the highest level
of current income that is exempt from federal income taxes, consistent with
liquidity and the preservation of capital.
