THE PRUDENTIAL SERIES FUND, INC.
with respect to
Pruco Life Variable Universal Account
Pruco Life of New Jersey Variable Appreciable Account
PruSelectSM III Variable Life Insurance Contract
Supplement dated November 10, 1999
Prospectus dated May 1, 1999
The following disclosure replaces the first paragraph in the Section
"How the Portfolios are Managed - Portfolio Managers" in the Prospectus:
Prudential Investments' Fixed Income Group manages more than $135
billion for Prudential's retail investors, institutional investors, and
policyholders. Senior Managing Directors James J. Sullivan and Jack W. Gaston
head the Group, which is organized into teams specializing in different market
sectors. Top-down, broad investment decisions are made by the Fixed Income
Policy Committee, whereas bottom-up security selection is made by the sector
teams.
Mr. Sullivan has overall responsibility for overseeing portfolio
management and credit research. Prior to joining Prudential Investments in 1998,
he was a managing director in Prudential's Capital Management Group, where he
oversaw portfolio management and credit research for Prudential's General
Account and subsidiary fixed-income portfolios. He has more than 16 years of
experience in risk management, arbitrage trading, and corporate bond investing.
Mr. Gaston has overall responsibility for overseeing quantitative
research and risk management. Prior to this appointment in 1999, he was senior
managing director of the Capital Management Group where he was responsible for
the investment performance and risk management for Prudential's General Account
and subsidiary fixed-income portfolios. He has more than 20 years of experience
in investment management, including extensive experience applying quantitative
techniques to portfolio management.
The Fixed Income Investment Policy Committee is comprised of key senior
investment managers. Members include seven sector team leaders, the chief
investment strategist, and the head of risk management. The Committee uses a
top-down approach to investment strategy, asset allocation, and general risk
management, identifying sectors in which to invest.
In the same section, "How the Portfolios are Managed - Portfolio
Managers," under the sub-heading "Conservative Balanced Portfolio & Flexible
Managed Portfolio," the third paragraph is replaced by the following:
The Corporate Team, headed by Steven Kellner, is primarily responsible
for overseeing the day-to-day management of the Portfolio. This Team uses a
bottom-up approach, which focuses on individual securities, while staying within
the guidelines of the Investment Policy Committee and the Portfolios' investment
restrictions and policies. In addition, the Credit Research team of analysts
supports the sector teams using bottom-up fundamentals, as well as economic and
industry trends. Other sector teams may contribute to securities selection when
appropriate.
PSF-2C-SUP
<PAGE>
Corporate
Assets Under Management (as of June 30, 1999): $48.6 billion.
Team Leader: Steven Kellner. General Investment Experience: 13 years.
Portfolio Managers: 8. Average General Investment Experience:
13 years, which includes team members with mutual fund experience.
Sector: U.S. investment-grade corporate securities.
Investment Strategy: Focus is on identifying spread, credit quality and
liquidity trends to capitalize on changing opportunities in the market.
Ultimately, they seek the highest expected return with the least risk.
In the same section "How the Portfolios are Managed" under the
subheading: "Diversified Bond Portfolio," the entire paragraph is replaced by
the following:
The Corporate Team, headed by Steven Kellner, is primarily responsible
for overseeing the day-to-day management of the Portfolio. This Team uses a
bottom-up approach, which focuses on individual securities, while staying within
the guidelines of the Investment Policy Committee and the Portfolio's investment
restrictions and policies. In addition, the Credit Research team of analysts
supports the sector teams using bottom-up fundamentals, as well as economic and
industry trends. Other sector teams may contribute to securities selection when
appropriate.
Corporate
Assets Under Management (as of June 30, 1999): $48.6 billion.
Team Leader: Steven Kellner. General Investment Experience: 13 years.
Portfolio Managers: 8. Average General Investment Experience:
13 years, which includes team members with mutual fund experience.
Sector: U.S. investment-grade corporate securities.
Investment Strategy: Focus is on identifying spread, credit quality and
liquidity trends to capitalize on changing opportunities in the market.
Ultimately, they seek the highest expected return with the least risk.
In the same section "How the Portfolios are Managed" under the
subheading: "High Yield Bond Portfolio," the entire paragraph is replaced by the
following:
The High Yield Team, headed by Casey Walsh, is primarily responsible
for overseeing the day-to-day management of the Portfolio. This Team uses a
bottom-up approach, which focuses on individual securities, while staying within
the guidelines of the Investment Policy Committee and the Portfolio's investment
restrictions and policies. In addition, the Credit Research team of analysts
supports the sector teams using bottom-up fundamentals, as well as economic and
industry trends. Other sector teams may contribute to securities selection when
appropriate.
<PAGE>
High Yield
Assets Under Management (as of June 30, 1999): $9.9 billion.
Team Leader: Casey Walsh. General Investment Experience: 17 years.
Portfolio Managers: 7. Average General Investment Experience:
19 years, which includes team members with significant mutual fund
experience.
Sector: Below-investment-grade corporate securities.
Investment Strategy: Focus is generally on bonds with high total return
potential, given existing risk parameters. They also seek securities
with high current income, as appropriate. The Team uses a relative
value approach.
