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Command Tax-Free Fund
Supplement dated December 30, 1994
Prospectus dated August 29, 1994
Manager
Effective January 1, 1995, Prudential Mutual Fund Management, Inc., the
Manager of the Fund, has voluntarily agreed to waive .05 of 1% of its management
fee. The Management Agreement between the Fund and the Manager provides for a
fee at the annual rate of .50 of 1% of the average daily net assets up to and
including $500 million, .425 of 1% in excess of $500 million, and .375 of 1% of
the average daily net assets in excess of $1 billion. After the waiver, the
management fee will be .45 of 1% of the average daily net assets up to and
including $500 million, .375 of 1% in excess of $500 million, and .325 of 1% of
the average daily net assets in excess of $1 billion. Annual fund operating
expenses for the Fund are set forth under ``Fund Expenses'' in the Prospectus.
The Manager may hereafter agree, from time to time, to further waive or modify
any waiver of its management fee and subsidize certain operating expenses of the
Fund. The Fund is not required to reimburse the Manager for such management fee
waiver or expense subsidy.
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