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Supplement dated July 27, 1995 to May 1,1995 Prospectus for
THE MEDLEY-SM- PROGRAM
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THE PRUDENTIAL THE PRUDENTIAL
VARIABLE CONTRACT ACCOUNT-10 VARIABLE CONTRACT ACCOUNT-11
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THE PRUDENTIAL
VARIABLE CONTRACT ACCOUNT-24
1. The following language supersedes the fourth paragraph within the section of
the Prospectus entitled "Contributions; Crediting Units; Enrollment Forms;
Deduction for Administrative Expenses" on pages 20-21 that discusses how
Prudential processes the initial contribution made for a Participant:
The initial contribution made for a Participant will be invested in VCA-10,
VCA-11, or a Subaccount of VCA-24 no later than two business days after it is
received by Prudential and identified as being for investment in VCA-10, VCA-11,
or a Subaccount of VCA-24, if it is accompanied by satisfactory enrollment
information. If the Contract-holder submits an initial contribution on behalf of
one or more new Participants that is not accompanied by satisfactory enrollment
information, then Prudential will allocate such contribution to a money market
option upon receipt, and also will send a notice to the Contract-holder that
requests allocation information for each such Participant. If the
Contract-holder purchases only contracts that are within the MEDLEY Program, or
purchases such contracts together with either a group variable annuity contract
issued through The Prudential Variable Contract Account-2 or unaffiliated mutual
funds, then contributions that are not accompanied by satisfactory enrollment
information will be invested in the VCA-11 money market option. If the
Contract-holder purchases contracts that are within the MEDLEY Program as well
as shares of The Prudential Institutional Fund ("PIF"), then contributions that
are not accompanied by satisfactory enrollment information will be invested in
the Money Market Fund of PIF. If the necessary enrollment information is not
received in response to its initial notice to the Contract-holder, Prudential
will deliver up to two additional notices to the Contract-holder at monthly
intervals that request such allocation information. After 105 days have passed
from the time that Units of VCA-11 (or, as the case may be, shares of PIF's
Money Market Fund) were purchased on behalf of Participants who failed to
provide the necessary enrollment information, Prudential will redeem the
relevant VCA-11 Units (or PIF shares) and pay the proceeds (including earnings
thereon) to the Contract-holder. Any proceeds paid to the Contract-holder under
this procedure may be considered a prohibited and taxable reversion to the
Contract-holder under current provisions of the Internal Revenue Code of 1986,
as amended. Similarly, returning proceeds may cause the Contract-holder to
violate a requirement under the Employee Retirement Income Security Act of 1974,
as amended, to hold all plan assets in trust. Both problems may be avoided if
the Contract-holder arranges to have the proceeds paid into a qualified trust or
annuity contract.
2. The following sentences supersede the first sentence of the last paragraph
appearing in the section of the Prospectus entitled "Loans" on page 28:
Prudential charges a loan application fee of up to $75, which is deducted from a
Participant's Accumulation Accounts at the time the loan is initiated.
Prudential will not accept a personal check as payment of the loan application
fee.
