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THE PRUDENTIAL SERIES FUND, INC.
with respect to
Pruco Life Variable Universal Account
PRUSELECT I(SM) Variable Life Insurance Contracts
PRUSELECT II (SM) Variable Life Insurance Contracts
Supplement dated October 21, 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-2B-SUP
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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.
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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.
