<PAGE>
Prudential Mutual Funds
- ------------------------------------------------------------------------------
Prudential Government Securities Trust
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED MARCH 29, 1999
Purchase, Redemption and Pricing of Trust Shares
The section entitled 'Purchase, Redemption and Pricing of Trust Shares' is
amended as follows:
The first two paragraphs under 'Class Z Shares' are amended to read in their
entirety as follows:
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 Series 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 Series 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 Series in connection with different pricing options for
their programs. Investors should consider carefully any separate
transaction and other fees charged by
MF111C1
<PAGE>
these programs in connection with investing in each available share class
before selecting a share class.
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 Series); and
- Prudential, with an investment of $10 million or more.
The last paragraph under 'Class Z Shares' has been deleted.
The date of this Supplement is July 23, 1999.
