PRUCO LIFE INSURANCE CO SINGLE PREMIUM VARIABLE LIFE ACCOUNT
485BPOS, 2000-04-25
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       As filed with the Securities Exchange Commission on April 25, 2000.


                                                        Registration No. 2-99260
================================================================================


                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   ----------
                                    FORM S-6



                         Post-Effective Amendment No. 24



                FOR REGISTRATION UNDER THE SECURITIES ACT OF 1933
               OF SECURITIES OF UNIT INVESTMENT TRUSTS REGISTERED
                                 ON FORM N-8B-2
                                   ----------

                                   PRUCO LIFE
                                 SINGLE PREMIUM
                              VARIABLE LIFE ACCOUNT
                              (Exact Name of Trust)

                          PRUCO LIFE INSURANCE COMPANY
                               (Name of Depositor)

                              213 WASHINGTON STREET
                          NEWARK, NEW JERSEY 07102-2992
                                 (888) PRU-2888
          (Address and telephone number of principal executive offices)

                                  ----------

                                THOMAS C. CASTANO
                               ASSISTANT SECRETARY
                          PRUCO LIFE INSURANCE COMPANY
                              213 WASHINGTON STREET
                          NEWARK, NEW JERSEY 07102-2992
                     (Name and address of agent for service)


                                                Copies to:
CHRISTOPHER E. PALMER                           LEE D. AUGSBURGER
SHEA & GARDNER                                  ASSISTANT GENERAL COUNSEL
1800 MASSACHUSETTS AVENUE, N.W.                 THE PRUDENTIAL INSURANCE COMPANY
WASHINGTON, D.C. 20036                            OF AMERICA
                                                100 MULBERRY STREET
                                                NEWARK, NEW JERSEY  07102-4077
                                   ----------



Flexible Premium Variable Life Insurance Contracts.
It is proposed that this filing will become effective (check appropriate space):
[ ] immediately upon filing pursuant to paragraph (b) of Rule 485
[X] on May 1, 2000 pursuant to paragraph (b) of Rule 485
         (date)
[ ] 60 days after filing pursuant to paragraph (a) of Rule 485_
[ ] on _________  pursuant to paragraph (a) of Rule 485
        (date)




================================================================================

<PAGE>


                              CROSS REFERENCE SHEET
                          (as required by Form N-8B-2))

                                   ----------


N-8B-2 ITEM NUMBER                 LOCATION
- ------------------                 --------
    1.                             Cover Page
    2.                             Cover Page
    3.                             Not Applicable
    4.                             Sale of the Contract and Sales Commissions
    5.                             Pruco Life Single Premium Variable Life
                                   Account
    6.                             Pruco Life Single Premium Variable Life
                                   Account
    7.                             Not Applicable
    8.                             Not Applicable
    9.                             Litigation
   10.                             Brief Description of the Contract;
                                   Short-Term Cancellation Right or "Free Look";
                                   Pruco Life Single Premium Variable Life
                                   Account; Transfers; Surrenders; Loans;
                                   Amount of Life Insurance; Lapse and
                                   Reinstatement; When Proceeds are Paid;
                                   Voting Rights; Substitution of Series Fund
                                   Shares
   11.                             Brief Description of the Contract; Pruco
                                   Life Single Premium Variable Life Account;
                                   Amount of Life Insurance
   12.                             Not Applicable
   13.                             Brief Description of the Contract;
                                   Allocation of the Premium Payment; Charges;
                                   Additional Premium Payments; Sale of the
                                   Contract and Sales Commissions
   14.                             Brief Description of the Contract;
                                   Short-Term Cancellation Right or "Free
                                   Look"; Requirements for Issuance of a
                                   Contract
   15.                             Brief Description of the Contract;
                                   Allocation of the Premium Payment;
                                   Additional Premium Payments
   16.                             Cover Page; Brief Description of the
                                   Contract; General Information About Pruco
                                   Life Insurance Company, Pruco Life Single
                                   Premium Variable Life Account, and The
                                   Variable Investment Options Available Under
                                   the Contract
   17.                             Transfers; Surrenders; When Proceeds are
                                   Paid
   18.                             Brief Description of the Contract; Pruco
                                   Life Single Premium Variable Life Account;
                                   Amount of Life Insurance
   19.                             Reports to Contract Owners
   20.                             Not Applicable
   21.                             Loans
   22.                             Not Applicable
   23.                             Not Applicable
   24.                             Other General Contract Provisions
   25.                             Pruco Life Insurance Company
   26.                             Charges
                                   Pruco Life Insurance Company; The
   27.                             Prudential Series Fund, Inc.
   28.                             Pruco Life Insurance Company; Directors and
                                   Officers
   29.                             Pruco Life Insurance Company
   30.                             Not Applicable
   31.                             Not Applicable
   32.                             Not Applicable
   33.                             Not Applicable


                                        i


<PAGE>


N-8B-2 ITEM NUMBER                   LOCATION
- ------------------                   --------
   34.                               Not Applicable
   35.                               Pruco Life Insurance Company
   36.                               Not Applicable
   37.                               Not Applicable
   38.                               Sale of the Contract and Sales Commissions
   39.                               Sale of the Contract and Sales Commissions
   40.                               Not Applicable
   41.                               Sale of the Contract and Sales Commissions
   42.                               Not Applicable
   43.                               Not Applicable
   44.                               Brief Description of the Contract; The
                                     Prudential Series Fund, Inc.; Charges;
                                     Pruco Life Single Premium Variable Life
                                     Account; Amount of Life Insurance;
                                     Additional Premium Payments
   45.                               Not Applicable
   46.                               Brief Description of the Contract; Pruco
                                     Life Single Premium Variable Life Account;
                                     The Prudential Series Fund, Inc.
   47.                               Pruco Life Single Premium Variable Life
                                     Account
   48.                               Not Applicable
   49.                               Not Applicable
   50.                               Not Applicable
   51.                               Not Applicable
   52.                               Substitution of Series Fund Shares
   53.                               Federal Tax Status
   54.                               Not Applicable
   55.                               Not Applicable
   56.                               Not Applicable
   57.                               Not Applicable
   58.                               Not Applicable
   59.                               Financial Statements: Financial Statements
                                     of Pruco Life Single Premium Variable Life
                                     Account; Consolidated Financial Statements
                                     of Pruco Life Insurance Company and
                                     Subsidiaries


                                       ii


<PAGE>


                                     PART I
                       INFORMATION REQUIRED IN A PROSPECTUS





<PAGE>


PROSPECTUS


MAY 1, 2000


PRUCO LIFE INSURANCE COMPANY                                    DISCOVERY
SINGLE PREMIUM VARIABLE LIFE ACCOUNT                            LIFE
VARIABLE LIFE INSURANCE CONTRACTS                               PLUS
                                                                [LOGO]

This prospectus describes the DISCOVERY(R) Life Plus Contract*, a variable life
insurance contract (the "Contract") issued by Pruco Life Insurance Company
("Pruco Life"), a stock life insurance company that is a wholly-owned subsidiary
of The Prudential Insurance Company of America. You must pay an initial premium
of at least $10,000. (In some cases, the minimum initial premium is more than
$10,000.)

The Contract provides lifetime insurance coverage, as long as you do not
surrender the Contract and as long as the Contract is not in default beyond its
grace period. The Contract also provides a cash surrender value if the Contract
is surrendered during your lifetime. The death benefit will be the face amount
of insurance stated in the Contract or, under certain circumstances, a higher
amount. The cash surrender value of the Contract varies daily to reflect charges
and the investment performance of the investment options you select. There is no
guaranteed minimum cash surrender value, and if investment performance is poor
for a sufficiently long time, the cash surrender value could decline to zero.

You may invest your premium and its earnings in the following ways:

o  Invest in one or more of 15 available subaccounts of the Pruco Life Single
   Premium Variable Life Account, each of which invests in a corresponding
   portfolio of The Prudential Series Fund, Inc. (the "Series Fund"). The
   portfolios are listed below.


   CONSERVATIVE BALANCED PORTFOLIO     HIGH YIELD BOND PORTFOLIO
   DIVERSIFIED BOND PORTFOLIO          MONEY MARKET PORTFOLIO
   EQUITY PORTFOLIO                    NATURAL RESOURCES PORTFOLIO
   EQUITY INCOME PORTFOLIO             PRUDENTIAL JENNISON PORTFOLIO
   FLEXIBLE MANAGED PORTFOLIO          SMALL CAPITALIZATION STOCK PORTFOLIO
   GLOBAL PORTFOLIO                    STOCK INDEX PORTFOLIO
   GOVERNMENT INCOME PORTFOLIO         ZERO COUPON BOND 2000 AND 2005 PORTFOLIOS


o  Invest in the fixed-rate option, which pays an interest rate periodically
   declared by Pruco Life, in its sole discretion. Any such interest rate will
   never be less than an effective annual rate of 3%.

o  Invest in a real estate investment option. The Pruco Life Variable Contract
   Real Property Account (the "Real Property Account") is a separate account of
   Pruco Life that, through a partnership, invests primarily in income-producing
   real property.


The Contract is a Modified Endowment Contract under federal tax law. Any policy
loan, surrender or other pre-death distribution may result in adverse tax
consequences, and, if the insured is less than age 59-1/2, a 10% tax penalty.
This prospectus describes the Contract generally and the Pruco Life Single
Premium Variable Life Account. The attached prospectus for the Series Fund and
its statement of additional information describe the investment objectives and
the risks of investment in the portfolios. The attached prospectus for the Pruco
Life Variable Contract Real Property Account describes the real estate
investment option and the risks of investment in that option. Please read this
prospectus and the attached prospectuses and keep them for future reference.


                                   ----------

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED THESE SECURITIES OR DETERMINED IF THIS
PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.


PRUCO LIFE INSURANCE COMPANY                PRUDENTIAL ANNUITY SERVICE CENTER
   213 Washington Street                             P.O. Box 14215
Newark, New Jersey 07102-2992               New Brunswick, New Jersey 08906-4215
 Telephone: (888) PRU-2888                       Telephone: (888) PRU-2888
*DISCOVERY is a registered mark of Prudential.
 SPVL-1 Ed 5-2000
 Catalog No. 6401654




<PAGE>


                            PROSPECTUS CONTENTS

                                                                            PAGE

GLOSSARY....................................................................   1

INTRODUCTION AND SUMMARY....................................................   2


GENERAL INFORMATION ABOUT PRUCO LIFE INSURANCE COMPANY, PRUCO LIFE SINGLE
PREMIUM  VARIABLE  LIFE  ACCOUNT,   AND  THE  VARIABLE   INVESTMENT  OPTIONS
AVAILABLE UNDER THE CONTRACT................................................   5
   PRUCO LIFE INSURANCE COMPANY.............................................   5
   PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT..........................   5
   THE PRUDENTIAL SERIES FUND, INC. ........................................   6
   VOTING RIGHTS............................................................   7
   PRUCO LIFE VARIABLE CONTRACT REAL PROPERTY ACCOUNT.......................   7
   THE FIXED-RATE OPTION....................................................   8
   WHICH INVESTMENT OPTION SHOULD BE SELECTED?..............................   8

DETAILED INFORMATION FOR PROSPECTIVE CONTRACT OWNERS........................   9
   REQUIREMENTS FOR ISSUANCE OF A CONTRACT..................................   9
   SHORT-TERM CANCELLATION RIGHT OR "FREE LOOK" ............................   9
   CONTRACT DATE............................................................   9
   ALLOCATION OF THE PREMIUM PAYMENT........................................   9
   TRANSFERS................................................................  10
   SURRENDERS...............................................................  11
   LOANS....................................................................  11
   CHARGES AND EXPENSES.....................................................  12
   AMOUNT OF LIFE INSURANCE (THE DEATH BENEFIT).............................  15
   LAPSE AND REINSTATEMENT..................................................  16
   ADDITIONAL PREMIUM PAYMENTS..............................................  16
   LIVING NEEDS BENEFIT.....................................................  17
   ILLUSTRATIONS OF CASH SURRENDER VALUES, DEATH BENEFITS, AND
   ACCUMULATED PREMIUMS.....................................................  18
   WHEN PROCEEDS ARE PAID...................................................  19
   REPORTS TO CONTRACT OWNERS...............................................  19
   TAX TREATMENT OF CONTRACT BENEFITS.......................................  19



   SALE OF THE CONTRACT AND SALES COMMISSIONS...............................  22
   SUBSTITUTION OF SERIES FUND SHARES.......................................  22
   LEGAL CONSIDERATIONS RELATING TO SEX-DISTINCT PREMIUMS AND BENEFITS......  22
   OTHER GENERAL CONTRACT PROVISIONS........................................  22
   STATE REGULATION.........................................................  23
   EXPERTS..................................................................  23
   LITIGATION...............................................................  23
   ADDITIONAL INFORMATION...................................................  24
   FINANCIAL STATEMENTS.....................................................  24

DIRECTORS AND OFFICERS......................................................  25


FINANCIAL STATEMENTS OF PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT.....  A1

CONSOLIDATED FINANCIAL STATEMENTS OF PRUCO LIFE INSURANCE COMPANY AND
   SUBSIDIARIES.............................................................  B1



<PAGE>


                                  GLOSSARY

AMOUNT CREDITED UNDER THE CONTRACT -- See Contract fund below.

CASH SURRENDER VALUE -- The amount payable to the Contract owner upon surrender
of the Contract, equal to the Contract fund minus any applicable contingent
deferred sales charge and any Contract debt.

CONTRACT ANNIVERSARY -- The same date as the Contract date in each later year.

CONTRACT DATE -- The date Pruco Life received the initial premium payment and
certain required documentation.


CONTRACT FUND -- The total amount credited to a specific Contract. On any date,
it is equal to the sum of the amounts invested in the subaccounts, the
fixed-rate option, the Real Property Account, and the principal amount of any
Contract debt plus any interest earned thereon.


CONTRACT OWNER -- Unless a different owner is named in the application, the
owner of the contract is the insured.

CONTRACT YEAR -- A year that starts on the Contract date or on a Contract
anniversary.


DEATH BENEFIT. -- The amount we will pay upon the death of the insured before
the reduction of any Contract debt and amounts needed to pay charges through the
date of death.


DISCOVERY LIFE -- A fixed life insurance contract issued by Pruco Life that is
similar to Discovery Life Plus except that the owner may not invest the Contract
fund in variable investment options.

FACE AMOUNT -- The initial amount of life insurance as shown on the cover page
of the Contract.

FIXED-RATE OPTION -- An investment option under which Pruco Life guarantees that
interest will be added to the amount allocated at a rate declared periodically
in advance.

MONTHLY DATE -- The Contract date and the same date in each subsequent month.


PRUCO LIFE INSURANCE COMPANY, us, we, Pruco Life -- The company offering the
Contract.


PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT (THE "ACCOUNT") -- A separate
account of Pruco Life registered as a unit investment trust under the Investment
Company Act of 1940.

PRUCO LIFE VARIABLE CONTRACT REAL PROPERTY ACCOUNT (THE "REAL PROPERTY ACCOUNT")
- -- A separate account of Pruco Life which, through a partnership, invests
primarily in income-producing real property.

SUBACCOUNT -- A division of the Account, the assets of which are invested in
shares of the corresponding portfolio of the Series Fund.

TARGET LOAN AMOUNT -- The amount, equal to 10% of the initial premium for each
completed Contract year, that may be borrowed as a first loan in any year at the
most favorable net cost to the Contract owner.

THE PRUDENTIAL SERIES FUND, INC. (THE "SERIES FUND") -- A mutual fund with
separate portfolios, one or more of which may be chosen as an underlying
investment for the Contract.

VALUATION PERIOD -- The period of time from one determination of the value of
the amount invested in a subaccount to the next. Such determinations are made
when the net asset values of the portfolios of the Series Fund are calculated,
which is generally at 4:00 p.m. Eastern Standard time on each day during which
the New York Stock Exchange is open.

VARIABLE  INVESTMENT  OPTIONS  --  The  subaccounts  and  the  Real  Property
Account.

WE -- Pruco Life Insurance Company.

YOU -- The owner of the Contract.



                                        1

<PAGE>



                          INTRODUCTION AND SUMMARY

THIS SUMMARY PROVIDES A BRIEF OVERVIEW OF THE MORE SIGNIFICANT ASPECTS OF THE
CONTRACT. YOU WILL FIND FURTHER DETAIL IN THE FOLLOWING SECTIONS OF THIS
PROSPECTUS AND IN THE CONTRACT. THE CONTRACT, WHICH INCLUDES THE APPLICATION
ATTACHED TO IT, CONSTITUTES THE ENTIRE AGREEMENT BETWEEN YOU AND PRUCO LIFE. YOU
SHOULD RETAIN THESE DOCUMENTS.

As you read this prospectus, you should keep in mind that this is a life
insurance contract. Variable life insurance has significant investment aspects
and requires you to make investment decisions. Therefore, it is also a
"security". Securities that are offered to the public must be registered with
the U.S. Securities and Exchange Commission. The prospectus that is part of the
registration statement must be given to all prospective purchasers. A
substantial part of the premium pays for life insurance that will pay a death
benefit to the beneficiary in the event of the insured's death. This death
benefit generally far exceeds your total premium payment. You should not buy
this contract unless the primary reason for the purchase is to provide life
insurance protection.

BRIEF DESCRIPTION OF THE CONTRACT


The Contract is a form of variable life insurance. It is based on a Contract
fund, the value of which changes every business day. The chart below describes
how the value of your Contract fund changes.


You can purchase this contract by making an initial premium payment. The minimum
initial payment is $10,000. For insureds aged 76 through 85 the minimum initial
payment is $50,000. You decide the amount of the initial premium (as long as it
meets the minimum requirement) and from this we determine the initial amount of
life insurance. Although the Contract will begin to vary immediately to reflect
the investment results, the amount of life insurance will ordinarily not change
for several years. The amount of life insurance may not change at all. If
investment results are sufficiently favorable the amount of insurance will
eventually increase.


You may invest your premium in one or more of the 15 available subaccounts, a
real estate investment option or in the fixed-rate option. The amount invested
will be your initial premium payment minus any charge for taxes attributable to
premiums. Your Contract fund value changes every day depending upon the change
in the value of the particular investment options that you have selected.

Although the value of your Contract fund will increase if there is favorable
investment performance in the subaccounts you select, there is a risk that
investment performance will be unfavorable and that the value of your Contract
fund will decrease. The risk will be different, depending upon which investment
options you choose. See WHICH INVESTMENT OPTION SHOULD BE SELECTED?, page 9. If
you select the fixed-rate option, we credit your account with a declared rate or
rates of interest but you assume the risk that the rate may change.


You may surrender the Contract in full and receive the cash surrender value.
Partial surrenders and contract splits are not permitted. You may borrow against
the value of your Contract. See LOANS, page 12.

The Contract is a Modified Endowment Contract under federal tax law. Any policy
loan, surrender or other pre-death distribution may result in adverse tax
consequences, and, if the insured is less than age 59-1/2, a 10% tax penalty.

CHARGES

The following chart outlines the components of your Contract Fund and the
adjustments which may be made including the maximum charges which may be
deducted from your premium payment and from the amounts held in the designated
investment options. These charges are largely designed to cover insurance costs
and risks as well as sales and administrative expenses. The maximum charges
shown in the chart, as well as the current lower charges, are fully described
under CHARGES AND EXPENSES, page 13.



                                        2

<PAGE>



           -----------------------------------------------------------
                                 PREMIUM PAYMENT
           -----------------------------------------------------------

                --------------------------------------------------
                o  Less charge for taxes attributable to premiums.
                   (Under certain circumstances, this charge may
                   be reduced or eliminated, see Charges and
                   Expenses, page 12).
               --------------------------------------------------

- -------------------------------------------------------------------------------
                           INVESTED PREMIUM AMOUNT
- -------------------------------------------------------------------------------
   o  To be invested in one or a combination of:
      o  15 investment portfolios of the Series Fund.
      o  The Real Property Account.
      o  The Fixed Rate Option.
- -------------------------------------------------------------------------------


- -------------------------------------------------------------------------------
                                CONTRACT FUND
- -------------------------------------------------------------------------------
   On the Contract date, the Contract fund is equal to the invested premium
   amount minus any of the charges described below which may be due on that
   date. Thereafter, the value of the Contract fund changes daily.
- -------------------------------------------------------------------------------


- -------------------------------------------------------------------------------
                  PRUCO LIFE ADJUSTS THE CONTRACT FUND FOR:
- -------------------------------------------------------------------------------
   o  Addition of any increase due to investment results of the chosen
      subaccounts.


   o  Addition of guaranteed interest at an effective annual rate of 3% (plus
      any excess interest if applicable) on the portion of the Contract fund
      allocated to the fixed-rate option.


   o  Addition of guaranteed interest at an effective annual rate of either 5.5%
      or 4% on the amount of any Contract loan. (Separately, interest charged on
      the loan accrues at an effective annual rate of 6%. See LOANS, page 12.)

   o  Subtraction of any decrease due to investment results of the chosen
      subaccounts.


   o  Addition of any new invested premium amounts. (Additional premiums may be
      paid, in limited circumstances.)


   o  Subtraction of the charges listed below, as applicable.
- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------
                                DAILY CHARGES
- -------------------------------------------------------------------------------
   o  ADMINISTRATIVE EXPENSE CHARGE - We deduct a daily administrative expense
      charge, equivalent to an annual rate of 0.35% from the variable investment
      options.

   o  MORTALITY AND EXPENSE RISK CHARGE - We deduct a daily mortality and
      expense risk charge, equivalent to an annual rate of 0.9 % from the
      variable investment options.

   o  MANAGEMENT FEES AND EXPENSES - We deduct these fees and expenses from the
      Series Fund and Real Property Account assets.
- -------------------------------------------------------------------------------


- -------------------------------------------------------------------------------
                               MONTHLY CHARGES
- -------------------------------------------------------------------------------
   o  INSURANCE PROTECTION CHARGE - We generally deduct an amount equal to 0.05%
      of the contract fund per month. If the contract fund falls so low that
      making a monthly charge of 0.05% is inadequate, the charge may be
      increased to the amount permitted by the 1980 Commissioners Standard
      Ordinary Mortality Table ("1980 CSO Table").
- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------
                         POSSIBLE ADDITIONAL CHARGES
- -------------------------------------------------------------------------------
   o  During the first six years, we will assess a contingent deferred sales
      charge if the contract is surrendered. The maximum contingent sales charge
      during the first contract year is 9% of the amount credited under the
      contract. This charge is decreased by 1% each year until the sixth year
      when it equals 4% of the amount credited under the contract. We do not
      assess a charge after the sixth year. This charge will never be greater
      than 9% of your initial premium payment.
- -------------------------------------------------------------------------------




                                        3
<PAGE>

REFUND


For a limited time, you may return your contract for a refund in accordance with
the terms of its free-look provision. See SHORT-TERM CANCELLATION RIGHT or "FREE
LOOK", page 10.

For the definition of special terms used in this prospectus, see GLOSSARY, page
2.

THE REPLACEMENT OF LIFE INSURANCE IS GENERALLY NOT IN YOUR BEST INTEREST. IN
MOST CASES, IF YOU REQUIRE ADDITIONAL COVERAGE, THE BENEFITS OF THE EXISTING
CONTRACT CAN BE PROTECTED BY PURCHASING ADDITIONAL COVERAGE OR A SUPPLEMENTAL
CONTRACT. IF YOU ARE CONSIDERING REPLACING A CONTRACT, YOU SHOULD COMPARE THE
BENEFITS AND COSTS OF SUPPLEMENTING YOUR EXISTING CONTRACT WITH THE BENEFITS AND
COSTS OF PURCHASING THE CONTRACT DESCRIBED IN THIS PROSPECTUS AND YOU SHOULD
CONSULT WITH A QUALIFIED TAX ADVISER.

THIS PROSPECTUS MAY ONLY BE OFFERED IN JURISDICTIONS IN WHICH THE OFFERING IS
LAWFUL. NO PERSON IS AUTHORIZED TO MAKE ANY REPRESENTATIONS IN CONNECTION WITH
THIS OFFERING OTHER THAN THOSE CONTAINED IN THIS PROSPECTUS, IN THE PROSPECTUSES
AND STATEMENT OF ADDITIONAL INFORMATION FOR THE SERIES FUND AND THE PROSPECTUS
FOR THE PRUCO LIFE VARIABLE CONTRACT REAL PROPERTY ACCOUNT.



                                        4


<PAGE>


                      GENERAL INFORMATION ABOUT PRUCO LIFE
                     INSURANCE COMPANY, PRUCO LIFE SINGLE PREMIUM
                     VARIABLE LIFE ACCOUNT, AND THE VARIABLE
                   INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT

PRUCO LIFE INSURANCE COMPANY

Pruco Life Insurance Company ("Pruco Life") is a stock life insurance company,
organized in 1971 under the laws of the State of Arizona. It is licensed to sell
life insurance and annuities in the District of Columbia, Guam, and in all
states except New York. Pruco Life is a wholly-owned subsidiary of The
Prudential Insurance Company of America ("Prudential"), a mutual insurance
company founded in 1875 under the laws of the State of New Jersey. Prudential is
currently considering reorganizing itself into a publicly traded stock company
through a process known as "demutualization." On February 10, 1998, the
Company's Board of Directors authorized management to take the preliminary steps
necessary to allow the Company to demutualize. On July 1, 1998, legislation was
enacted in New Jersey that would permit this conversion to occur and that
specified the process for conversion. Demutualization is a complex process
involving development of a plan of reorganization, adoption of a plan by the
Company's Board of Directors, a public hearing, voting by qualified
policyholders and regulatory approval. Prudential is working toward completing
this process in 2001 and currently expects adoption by the Board of Directors to
take place in the latter part of 2000. However, there is no certainty that the
demutualization will be completed in this timeframe or that the necessary
approvals will be obtained. Also it is possible that after careful review,
Prudential could decide not to demutualize or could decide to delay its plans.


The plan of reorganization, which has not been fully developed and approved,
would provide the criteria for determining eligibility and the methodology for
allocating shares or other consideration to those who would be eligible.
Generally, the amount of shares or other consideration eligible customers would
receive would be based on a number of factors, including the types, amounts and
issue years of the policies. As a general rule, owners of Prudential-issued
insurance policies and annuity contracts would be eligible, provided that their
policies were in force on the date Prudential's Board of Directors adopted a
plan of reorganization, while mutual fund customers and customers of the
Company's subsidiares, such as the Pruco Life insurance companies, would not be.
It has not yet been determined whether any exceptions to that general rule will
be made with respect to policyholders and contractowners of Prudential's
subsidiaries. This does not constitute a proposal, offer, solicitation or
recommendation regarding any plan of reorganization that may be proposed or a
recommendation regarding the ownership of any stock that could be issued in
connection with any such demutualization.




PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT


We have established a separate account, The Pruco Life Single Premium Variable
Life Account (the "Account"), to hold the assets that are associated with the
Contracts. The Account was established on April 15, 1985 under Arizona law and
is registered with the Securities and Exchange Commission ("SEC") under the
Investment Company Act of 1940 as a unit investment trust, which is a type of
investment company. The Account meets the definition of a "separate account"
under the federal securities laws. The Account holds assets that are segregated
from all of Pruco Life's other assets.

Pruco Life is also the legal owner of the assets in the Account. Pruco Life will
maintain assets in the Account with a total market value at least equal to the
reserve and other liabilities relating to the variable benefits attributable to
the Account. These assets may not be charged with liabilities which arise from
any other business Pruco Life conducts. In addition to these assets, the
Account's assets may include funds contributed by Pruco Life to commence
operation of the Account and may include accumulations of the charges Pruco Life
makes against the Account. From time to time these additional assets will be
transferred to Pruco Life's general account. Pruco Life will consider any
possible adverse impact the transfer might have on the Account before making any
such transfer.

The obligations to Contract owners and beneficiaries arising under the Contract
are general corporate obligations of Pruco Life.





                                        5
<PAGE>



Currently, you may invest in one or a combination of 15 available variable
investment options.

When you choose a variable investment option, we purchase shares of a mutual
fund, which are held as an investment for that option. We hold these shares in
the Separate Account. The division of the Separate Account of Pruco Life that
invests in a particular mutual fund is referred to in your contract as the
subaccount. Pruco Life may add additional variable investment options in the
future. The Account's Financial Statements begin on page A1.


THE PRUDENTIAL SERIES FUND, INC.

The Prudential Series Fund, Inc. (the "Series Fund") is registered under the
1940 Act as an open-end diversified management investment company. The Series
Fund has 15 separate portfolios. The following is a list of those portfolios and
their investment objectives.

o  CONSERVATIVE BALANCED PORTFOLIO - The investment objective is a total
   investment return consistent with a conservatively managed diversified
   portfolio. The portfolio invests in a mix of equity securities, debt
   obligations and money market instruments.

o  DIVERSIFIED BOND PORTFOLIO - The investment objective is a high level of
   income over a longer term while providing reasonable safety of capital. The
   portfolio invests primarily in higher grade debt obligations and high quality
   money market investments.

o  EQUITY PORTFOLIO - The investment objective is capital appreciation. The
   portfolio invests primarily in common stocks of major established
   corporations as well as smaller companies that offer attractive prospects of
   appreciation.

o  EQUITY INCOME PORTFOLIO - The investment objective is both current income and
   capital appreciation. The portfolio invests primarily in common stocks and
   convertible securities that provide good prospects for returns above those of
   the Standard & Poor's 500 Composite Stock Price Index (the "S&P 500 Index")
   or the NYSE Composite Index.

o  FLEXIBLE MANAGED PORTFOLIO - The investment objective is a total investment
   return consistent with an aggressively managed diversified portfolio. The
   portfolio invests in a mix of equity securities, debt obligations and money
   market instruments.

o  GLOBAL PORTFOLIO - The investment objective is long-term growth of capital.
   The portfolio invests primarily in common stocks (and their equivalents) of
   foreign and U.S. companies.

o  GOVERNMENT INCOME PORTFOLIO - The investment objective is a high level of
   income over the longer term consistent with the preservation of capital. The
   portfolio invests primarily in U.S. Government securities, including
   intermediate and long-term U.S. Treasury securities and debt obligations
   issued by agencies or instrumentalities established by the U.S. government.

o  HIGH YIELD BOND PORTFOLIO - The investment objective is a high total return.
   The portfolio invests primarily in high yield/high risk debt securities.

o  MONEY MARKET PORTFOLIO - The investment objective is maximum current income
   consistent with the stability of capital and the maintenance of liquidity.
   The portfolio invests in high quality short-term debt obligations that mature
   in 13 months or less.

o  NATURAL RESOURCES PORTFOLIO - The investment objective is long-term growth of
   capital. The portfolio invests primarily in common stocks and convertible
   securities of natural resource companies and securities that are related to
   the market value of some natural resource.

o  PRUDENTIAL JENNISON PORTFOLIO - The investment objective is to achieve
   long-term growth of capital. The portfolio invests primarily in equity
   securities of major established corporations that offer above-average growth
   prospects.

o  SMALL CAPITALIZATION STOCK PORTFOLIO - The investment objective is long-term
   growth of capital. The portfolio invests primarily in equity securities of
   publicly-traded companies with small market capitalization.

o  STOCK INDEX PORTFOLIO - The investment objective is investment results that
   generally correspond to the performance of publicly-traded common stocks. The
   portfolio attempts to duplicate the price and yield performance of the
   Standard & Poor's 500 Composite Stock Index (the "S&P 500 Index").

o  TWO ZERO COUPON BOND PORTFOLIOS - 2000 AND 2005 - The investment objective of
   these two portfolios is the highest predictable compound investment for a
   specific period of time, consistent with the safety of invested capital. The
   portfolio invests primarily in debt obligations of the U.S. Treasury and
   corporations that have been


                                        6
<PAGE>



   issued without interest coupons or have been stripped to their interest
   coupons, or have interest coupons that have been stripped from the debt
   obligations. On November 15, 2000, the liquidation date of the Zero Coupon
   Bond 2000 Portfolio, investments in that Portfolio will be transferred to
   the Money Market Portfolio.


Prudential is the investment advisor for the assets of each of the portfolios
within the Series Fund. Prudential's principal business address is 751 Broad
Street, Newark, New Jersey 07102-3777. Prudential has a Service Agreement with
its wholly-owned subsidiary Prudential Investment Corporation ("PIC"), which
provides that, subject to Prudential's supervision, PIC will furnish investment
advisory services in connection with the management of the Series Fund. In
addition, Prudential has entered into a Subadvisory Agreement with its
wholly-owned subsidiary Jennison Associates Capital Corp. ("Jennison"), under
which Jennison furnishes investment advisory services in connection with the
management of the Prudential Jennison Portfolio. For more information, see the
attached Series Fund prospectus and the Series Fund's statement of additional
information.

As an investment advisor, Prudential charges the Series Fund a daily investment
management fee as compensation for its services. In addition to the investment
management fee, each portfolio incurs certain expenses such as accounting and
custodian fees. These fees and expenses are listed in the table in the
DEDUCTIONS FROM PORTFOLIOS section of page 13, and are more fully described in
the attached prospectus for the Series Fund.


In the future it may become disadvantageous for both variable life insurance and
variable annuity contract separate accounts to invest in the same underlying
mutual fund. Although neither the companies that invest in the Series Fund nor
the Series Fund currently foresees any such disadvantage, the Series Fund's
Board of Directors intends to monitor events in order to identify any material
conflict between variable life insurance and variable annuity contract owners
and to determine what action, if any, should be taken. Material conflicts could
result from such things as:


o  changes in state insurance law;

o  changes in federal income tax law;

o  changes in the investment management of any portfolio of the Series Fund; or

o  differences between voting instructions given by variable life insurance and
   variable annuity contract owners.

A FULL DESCRIPTION OF THE SERIES FUND, ITS INVESTMENT OBJECTIVES, MANAGEMENT,
POLICIES, RESTRICTIONS, EXPENSES, INVESTMENT RISKS, AND ALL OTHER ASPECTS OF ITS
OPERATION IS CONTAINED IN THE ATTACHED PROSPECTUS FOR THE SERIES FUND AND IN ITS
STATEMENT OF ADDITIONAL INFORMATION, WHICH SHOULD BE READ IN CONJUNCTION WITH
THIS PROSPECTUS. THERE IS NO ASSURANCE THAT THE INVESTMENT OBJECTIVES WILL BE
MET.


VOTING RIGHTS

     We are the legal owner of the shares in the Funds associated with the
variable investment options. However, we vote the shares in the Funds according
to voting instructions we receive from Contract owners. We will mail you a
proxy, which is a form you need to complete and return to us to tell us how you
wish us to vote. When we receive those instructions, we will vote all of the
shares we own on your behalf in accordance with those instructions. We will vote
the shares for which we do not receive instructions and shares that we own, in
the same proportion as the shares for which instructions are received. We may
change the way your voting instructions are calculated if it is required by
federal regulation. Should the applicable federal securities laws or
regulations, or their current interpretation, change so as to permit Pruco Life
to vote shares of the Funds in its own right, it may elect to do so.



PRUCO LIFE VARIABLE CONTRACT REAL PROPERTY ACCOUNT


The Pruco Life Variable Contract Real Property Account (the "Real Property
Account") is a separate account of Pruco Life that, through a general
partnership formed by Prudential and two of its wholly-owned subsidiaries,
invests primarily in income-producing real property such as office buildings,
shopping centers, agricultural land, hotels, apartments or industrial
properties. It also invests in mortgage loans and other real estate-related
investments, including sale-leaseback transactions. The objectives of the Real
Property Account and the partnership are to preserve and protect capital,
provide for compounding of income as a result of reinvestment of cash flow from
investments, and provide for increases over time in the amount of such income
through appreciation in the value of assets.


The partnership has entered into an investment management agreement with
Prudential, under which Prudential selects the properties and other investments
held by the partnership. Prudential charges the partnership a daily fee for
investment management which amounts to 1.25% per year of the average daily gross
assets of the partnership.


A FULL DESCRIPTION OF THE REAL PROPERTY ACCOUNT, ITS MANAGEMENT, POLICIES, AND
RESTRICTIONS, ITS CHARGES AND EXPENSES, THE RISKS ATTENDANT TO INVESTMENT
THEREIN, THE PARTNERSHIP'S INVESTMENT OBJECTIVES, AND ALL OTHER ASPECTS OF THE
REAL PROPERTY ACCOUNT'S AND THE PARTNERSHIP'S OPERATIONS IS CONTAINED IN THE
ATTACHED PROSPECTUS FOR THE REAL PROPERTY ACCOUNT, WHICH SHOULD BE READ TOGETHER
WITH THIS PROSPECTUS IF YOU ARE CONSIDERING THE REAL PROPERTY ACCOUNT AS AN
INVESTMENT OPTION. THERE IS NO ASSURANCE THAT THE INVESTMENT OBJECTIVES WILL BE
MET.


                                        7
<PAGE>

THE FIXED-RATE OPTION


BECAUSE OF EXEMPTIVE AND EXCLUSIONARY PROVISIONS, INTERESTS IN THE FIXED-RATE
OPTION UNDER THE CONTRACT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933 AND THE GENERAL ACCOUNT HAS NOT BEEN REGISTERED AS AN INVESTMENT COMPANY
UNDER THE INVESTMENT COMPANY ACT OF 1940. ACCORDINGLY, INTERESTS IN THE
FIXED-RATE OPTION ARE NOT SUBJECT TO THE PROVISIONS OF THESE ACTS, AND PRUCO
LIFE HAS BEEN ADVISED THAT THE STAFF OF THE SEC HAS NOT REVIEWED THE DISCLOSURE
IN THIS PROSPECTUS RELATING TO THE FIXED-RATE OPTION. ANY INACCURATE OR
MISLEADING DISCLOSURE REGARDING THE FIXED-RATE OPTION MAY, HOWEVER, SUBJECT
PRUCO LIFE AND ITS OFFICERS TO CIVIL LIABILITY IF THAT RESULTS IN ANY DAMAGE.


You may elect to allocate, either initially or by transfer, all or part of the
amount credited under the contract to a fixed-rate option. This amount becomes
part of Pruco Life's general account. The general account consists of all assets
owned by Pruco Life other than those in the Account and in other separate
accounts that have been or may be established by Pruco Life. Subject to
applicable law, Pruco Life has sole discretion over the investment of the assets
of the general account, and you do not share in the investment experience of
those assets. Instead, Pruco Life guarantees that the part of the contract fund
allocated to the fixed-rate option will accrue interest daily at an effective
annual rate that Pruco Life declares periodically, but not less than an
effective annual rate of 3%.


Currently, declared interest rates remain in effect from the date money is
allocated to the fixed-rate option until the third contract anniversary
following the date of the allocation. Thereafter, a new crediting rate will be
declared each year, and will remain in effect for the calendar year. Pruco Life
reserves the right to change this practice. Pruco Life is not obligated to
credit interest at a higher rate than 3%, although in its sole discretion it may
do so. Different crediting rates may be declared for different portions of the
contract fund allocated to the fixed-rate option. On request, you will be
advised of the interest rates that currently apply to your Contract.

Transfers from the fixed-rate option are subject to strict limits. See
TRANSFERS, page 11. The payment of any cash surrender value attributable to the
fixed-rate option may be delayed up to 6 months. See WHEN PROCEEDS ARE PAID,
page 20. For contracts issued in Texas, the fixed-rate option is not available.


WHICH INVESTMENT OPTION SHOULD BE SELECTED?


Historically, for investments held over relatively long periods, the investment
performance of common stocks has generally been superior to that of short or
long-term debt securities, even though common stocks have been subject to much
more dramatic changes in value over short periods of time. Accordingly,
portfolios such as the Stock Index, Equity Income, Equity, Prudential Jennison,
Small Capitalization Stock or Global may be desirable options if you are willing
to accept such volatility in your Contract values. Each of these equity
portfolios involves different policies and investment risks.

You may prefer the somewhat greater protection against loss of principal (and
reduced chance of high total return) provided by the Diversified Bond,
Government Income or Zero Coupon Bond Portfolios. Or, you may want even greater
safety of principal and may prefer the Money Market Portfolio or the fixed-rate
option, recognizing that the level of short-term rates may change rather
rapidly. If you are willing to take risks and possibly achieve a higher total
return, you may prefer the High Yield Bond Portfolio, recognizing that the risks
are greater for lower quality bonds with higher yields. You may choose to
allocate a portion of your investment to specialized investment options, such as
the Natural Resources Portfolio and the Real Property Account. You may wish to
divide your invested premium among two or more of the investment options. You
may wish to obtain diversification by relying on Prudential's judgment for an
appropriate asset mix by choosing the Conservative Balanced or Flexible Managed
Portfolio.

Your choice should take into account how willing you are to accept investment
risks, how your other assets are invested, and what investment results you may
experience in the future. You should consult your Prudential representative from
time to time about the choices available to you under the Contract. Prudential
recommends AGAINST frequent transfers among the several options. Experience
generally indicates that "market timing" investing, particularly by
non-professional investors, is likely to prove unsuccessful.


                                        8
<PAGE>

              DETAILED INFORMATION FOR PROSPECTIVE CONTRACT OWNERS

REQUIREMENTS FOR ISSUANCE OF A CONTRACT

For insureds below the age of 76, the minimum initial premium payment is
$10,000. For insureds aged 76 through 85, the minimum initial premium payment is
$50,000. Pruco Life requires evidence of insurability, which may include a
medical examination, before issuing any contract. We will only issue the
contract on insureds who are classified as standard risks following Pruco Life's
regular underwriting process. If we do not approve your application, because the
current underwriting requirements are not met, we will promptly return your
premium payment. The Company reserves the right to change these requirements on
a non-discriminatory basis.

SHORT-TERM CANCELLATION RIGHT OR "FREE LOOK"

Generally, you can return a contract for a refund

o  within 10 days after you receive it,

o  within 45 days you sign Part I of the application or

o  within 10 days after Pruco Life mails or delivers a Notice of Withdrawal
   Right, whichever is latest.


Some states allow a longer period of time during which a Contract may be
returned for a refund. You can request a refund by mailing or delivering the
contract to the representative who sold it or to the Prudential Annuity Service
Center specified in the contract. If you return the contract according to this
provision it shall be deemed void from the beginning. You will then receive a
refund of all premium payments made, plus or minus any change due to investment
experience. If applicable state law so requires, the contractowner who exercises
his or her short-term cancellation right will receive a refund of all premium
payments made, with no adjustment for investment experience.


CONTRACT DATE

The Contract date will be the date we receive the initial payment and the
completed application in the Prudential Annuity Service Center. On the Contract
date, the amount credited under the Contract will begin to vary with the
investment results of the variable investment options that you have chosen or
the declared interest rate, if you have selected the fixed-rate option. Your
insurance protection begins on the Contract date. Your Contract date is listed
on your Contract.

ALLOCATION OF THE PREMIUM PAYMENT

You determine how the initial premium payment, after the deduction for any taxes
attributable to premiums, will be allocated among the subaccounts, the
fixed-rate option, and the Real Property Account. You may choose to allocate
nothing to a particular subaccount or to the fixed-rate option or the Real
Property Account, but any allocation made must be at least 10% and may not be a
fractional percent.

Additionally, a feature called Dollar Cost Averaging is available if you make an
allocation to the Money Market Subaccount. Under this feature, automatic flat
dollar amounts will be transferred monthly from the Money Market Subaccount into
other investment options available under the Contract, excluding the fixed-rate
option, but including the Real Property Account. At issue, the minimum amount
initially designated for transfer under this feature must be the greater of
$10,000 and 10% of the initial premium payment. After issue, Pruco Life will
accept an amount less than $10,000 provided it brings the balance in any current
Dollar Cost Averaging account up to $10,000. Automatic monthly transfers must be
at least 3% of the amount INITIALLY allocated to the Dollar Cost Averaging
account (that is, if $10,000 is INITIALLY ALLOCATED the minimum monthly transfer
is $300), with a minimum of $20 transferred into any one investment option.
These amounts are subject to change at Pruco Life's discretion. The minimum
transfer amount will only be recalculated upon an increase in the amount
allocated to the account.


                                        9
<PAGE>


Each automatic monthly transfer will take effect as of the end of the valuation
period on the Monthly date, provided the New York Stock Exchange (NYSE) is open
on that date. If the NYSE is not open on the Monthly date, the transfer will
take effect as of the end of the valuation period on the next day that the NYSE
is open. If the Monthly date does not occur in a particular month (e.g.,
February 30), the transfer will take effect as of the end of the valuation
period on the last day of the month that the NYSE is open. Automatic monthly
transfers will continue until the amount designated for Dollar Cost Averaging
has been transferred, or until you give notification of a change in allocation
or cancellation of the account. Currently, there is no charge for using the
Dollar Cost Averaging account.

TRANSFERS


You may, up to four times each Contract year, transfer amounts from one
subaccount to another subaccount, to the fixed-rate option, or to the Real
Property Account. We are not currently enforcing this limit; however, we may do
so in the future if it becomes necessary due to excessive transfer activity. The
amount you transfer from any one subaccount must be at least $300 (unless the
subaccount balance is less than $300, in which case you may transfer the entire
balance).


A transfer will take effect as of the end of the valuation period in which a
proper transfer request is received at the Prudential Annuity Service Center.
You may transfer amounts by proper written notice to the Prudential Annuity
Service Center, or by telephone, provided you are enrolled to use the Telephone
Transfer System. You will automatically be enrolled to use the Telephone
Transfer System unless the contract is jointly owned or you elect not to have
this privilege. Telephone transfers are not available if Pruco Life has received
proper notice that the contract is assigned. See ASSIGNMENT, page 23.

We will use reasonable procedures, such as asking you to provide certain
personal information provided on your application for insurance, to confirm that
instructions given by phone are genuine. We will not be held liable for
following telephone instructions we reasonably believe to be genuine. Pruco Life
cannot guarantee that you will be able to get through to complete a transfer
during peak periods such as periods of drastic economic or market change.

In addition, you may transfer the entire amount of the contract fund in the
subaccounts to the fixed-rate option at any time. If you wish to convert your
contract to a fixed-benefit contract you must request a complete transfer of
funds to the fixed-rate option and you should also change your allocation
instructions regarding any future premiums. The fixed-rate option is not
available for contracts issued in Texas. However, for contracts issued in Texas,
you may convert your variable contract to a comparable fixed-benefit policy
during the first 2 contract years.


The liquidation date of the Zero Coupon Bond 2000 Subaccount is November 15,
2000 and the liquidation date of the Zero Coupon Bond 2005 Subaccount is
November 15, 2005. On the liquidation date of a Zero Coupon Bond Subaccount, all
the shares held by it in the corresponding portfolio of the Series Fund will be
redeemed and the proceeds of the redemption applicable to each Contract will be
transferred to the Money Market Subaccount unless you direct that it be
transferred to another subaccount. A transfer that occurs upon the liquidation
date of a Zero Coupon Bond Subaccount will not be counted as one of the four
permissible transfers in a contract year.


Transfers from the fixed-rate option to the subaccounts are currently permitted
only once each Contract year and only during the 30-day period beginning on the
Contract anniversary. The maximum amount which may currently be transferred out
of the fixed-rate option each year is the greater of:

o  25% of the amount in the fixed-rate option and

o  $5,000.

If we receive a proper request to transfer from the fixed-rate option before the
Contract anniversary, we will process the transfer request as of the Contract
anniversary. If we receive a proper transfer request during the 30-day period
after the Contract anniversary, we will process the transfer request as of the
end of the valuation period in which the request is received at the Prudential
Annuity Service Center. We may change these limits and procedures in the future.

Transfers to and from the Real Property Account are subject to restrictions
described in a separate prospectus for that investment option.


                                       10
<PAGE>


The contract was not designed for professional market timing organizations or
other organizations or individuals using programmed, large or frequent
transfers. A pattern of exchanges that coincides with a "market timing" strategy
may be disruptive to the Account and the Series Fund and will be discouraged. If
such a pattern were to be found, Pruco Life may be required to modify the
transfer procedures, including but not limited to not accepting transfer
requests of an agent acting under a power of attorney on behalf of more than one
owner.


SURRENDERS


You may surrender the contract at any time for its full cash surrender value
(which takes into account the contingent deferred sales charge, if any, and any
contract debt). The "contract debt" is the principal amount of all outstanding
loans plus any interest accrued thereon. Partial surrenders and contract splits
are not permitted. To surrender a contract, we may require you to deliver or
mail it, together with a written request in a form that meets our needs, to the
Prudential Annuity Service Center. We will determine the cash surrender value of
the contract as of the end of the valuation period during which proper notice is
received at the Prudential Annuity Service Center. See WHEN PROCEEDS ARE PAID,
page 20. Surrender of the Contract may have tax consequences. See TAX TREATMENT
OF CONTRACT BENEFITS, page 20.


LOANS

You may borrow from Pruco Life an amount up to the "loan value" of the contract
using only the contract as security for the loan. Your Contract provides that
loans will be made only on or after your first contract anniversary. However, as
an administrative practice, we currently allow you to make a loan during your
first contract year. We may change this practice. The loan value of your
contract is 90% of an amount equal to your contract fund, reduced by any charges
due upon surrender. However, as an administrative practice, we currently allow
you to borrow up to 100% of the portion of your Contract fund attributable to
the fixed-rate option (or any portion of the Contract fund attributable to a
prior loan supported by the fixed-rate option), reduced by any charges due upon
surrender. We may change this practice. Loans will be treated as distributions
for tax purposes. See TAX TREATMENT OF CONTRACT BENEFITS, page 20.

Interest charged on a loan is accrued daily. Interest is due on each Contract
anniversary or when the loan is paid back, whichever comes first. If interest is
not paid when due, it will become part of the loan and we will charge interest
on it too. We charge interest at an effective annual rate of 6%.

When you make a loan, an amount equal to the loan proceeds will be transferred
out of your investment options. We will generally reduce the amount invested in
each investment option in the same proportions as the value in each subaccount,
the fixed-rate option and the Real Property Account bears to the total value of
the Contract. The amount transferred out of the investment options continues to
be part of your Contract fund. It will be credited daily with interest at an
effective annual rate of either 4% or 5.5%. We determine the rate or rates
applicable to your Contract in the following way. The loan amount is divided
into two parts, the "target loan amount" and the remainder. The target loan
amount for any contract year is 10% of the initial premium for each contract
year. Thus in the first year it is 10% of the premium payment, in the second
year 20% of the premium payment, and so on. Any borrowed amount that is part of
the target loan amount is credited with interest daily at an effective annual
rate of 5.5%. Amounts borrowed in excess of the target loan amount, and second
loans in any year, are credited daily with interest at an effective annual rate
of 4%. So the net cost of the loan to you is about 0.5% per year on the target
loan amount and 2% per year on amounts in excess of the target loan amount and
on second loans in any year; however, since the amount borrowed is not invested
in the variable investment option[s] the cash surrender value does not, to that
extent, participate in either favorable or unfavorable investment performance.
Upon each contract anniversary any outstanding loan up to the new target loan
amount will be credited interest at the 5.5% rate even if some of that loan had
been credited interest at 4% in the prior year.

Any Contract debt will directly reduce a Contract's cash surrender value and
will be subtracted from the death benefit to determine the amount payable. In
addition, even if the loan is fully repaid, it may have an effect on future
death benefits because the investment results of the selected investment options
will apply only to the amount remaining invested under those options. The longer
the loan is outstanding, the greater the effect is likely to be.


                                       11
<PAGE>


The effect could be favorable or unfavorable. If investment results are greater
than the rate being credited on the amount of the loan while the loan is
outstanding, values under the Contract will not increase as rapidly as they
would have if no loan had been made. If investment results are below that rate,
Contract values will be higher than they would have been had no loan been made.

In addition, you should note that a contract loan will increase the difference
between the gross investment return in the underlying portfolio[s] of the Series
Fund and the net return in the selected subaccount[s]. This is because the cost
of insurance charge (see MONTHLY DEDUCTION FROM CONTRACT FUND, page 15) is not
reduced when you make a contract loan but the amount in the subaccount[s] from
which the charges are deducted is reduced by the amount of the loan.

When you repay all or part of a loan, we will increase the portion of the
Contract fund in the investment options by the amount of the loan you repay. If
loan interest is paid when due, it will not change the portion of the Contract
fund allocated to the investment options.


CHARGES AND EXPENSES

This section provides a detailed description of each charge that is described
briefly in the chart on page 4, and an explanation of the purpose of the charge.

DEDUCTION FROM PREMIUM PAYMENTS.

We will deduct the amount of premium-based taxes applicable to your Contract
from the initial premium payment. These taxes vary from state to state and also
vary in some states by municipalities and counties. The tax rates in those
jurisdictions that impose a tax generally range from 0.75% to 5% (but in some
instances may exceed 5%). The amount remaining after the deduction of premium
taxes is allocated to the investment option[s] as you direct. However, if

o  the sum of the initial premiums under the Contract and all other DISCOVERY
   Life Plus and DISCOVERY Life contracts issued on the same insured equal
   $50,000 or more, or

o  contracts are purchased on all children of a parent or all grandchildren of a
   grandparent, each contract has an initial premium of $25,000 or more and the
   total initial premiums add up to $50,000 or more,


we will deduct for initial and additional premium taxes only the portion of the
applicable state premium taxes which is in excess of 4% of the premium, and any
applicable local premium taxes. If total premiums under the Contract and all
other DISCOVERY Life Plus and DISCOVERY Life contracts issued on the same
insured equal or exceed $50,000, any premium taxes previously deducted will be
used to increase the Contract Fund on the most recent contract. In many cases,
if a contract is purchased with an initial premium of $50,000 or more, there
will be no deduction from the payment and the entire amount will be invested as
you direct. During 1999, 1998, and 1997, Pruco Life received no money in charges
for payment of premium taxes.


DEDUCTIONS FROM PORTFOLIOS

Subject to certain caps and offsets, the charges and expenses of the Series Fund
are indirectly borne by the Contract owners. The Account purchases shares of the
Series Fund at net asset value. The net asset value of those shares reflects
investment management fees and expenses already deducted from the assets of the
Series Fund. More detailed information is contained in the attached prospectus
for the Series Fund and its statement of additional information. Higher charges
and expenses are incurred if the Real Property Account is selected, as described
in the attached prospectus for the Real Property Account.


The total expenses of each portfolio for the year 1999 expressed as a percentage
of the average assets during the year are shown below:



                                       12
<PAGE>



<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------
                                                    Other Expenses    Total Expenses
                                     Investment     (after expense    (after expense
Portfolio                           Advisory Fee    reimbursement)*   reimbursement)
- ---------------------------------------------------------------------------------------
<S>                                      <C>             <C>               <C>
MONEY MARKET PORTFOLIO                   0.40%            0.02%*            0.42%*
DIVERSIFIED BOND PORTFOLIO               0.40%            0.03%*            0.43%*
GOVERNMENT INCOME PORTFOLIO              0.40%            0.04%             0.44%
ZERO COUPON BOND PORTFOLIO 2000          0.40%            0.18%*            0.58%*
ZERO COUPON BOND PORTFOLIO 2005          0.40%            0.19%*            0.59%*
CONSERVATIVE BALANCED PORTFOLIO          0.55%            0.02%*            0.57%*
FLEXIBLE MANAGED PORTFOLIO               0.60%            0.02%*            0.62%*
HIGH YIELD BOND PORTFOLIO                0.55%            0.05%             0.60%
STOCK INDEX PORTFOLIO                    0.35%            0.04%             0.39%
EQUITY INCOME PORTFOLIO                  0.40%            0.02%             0.42%
EQUITY PORTFOLIO                         0.45%            0.02%*            0.47%*
PRUDENTIAL JENNISON PORTFOLIO            0.60%            0.03%             0.63%
SMALL CAPITALIZATION STOCK PORTFOLIO     0.40%            0.05%             0.45%
GLOBAL PORTFOLIO                         0.75%            0.09%             0.84%
NATURAL RESOURCES PORTFOLIO              0.45%            0.12%             0.57%
- ---------------------------------------------------------------------------------------
</TABLE>

*  Some investment management fees and expenses charged to the Series Fund may
   be higher than those that were previously charged to the Pruco Life Series
   Fund, Inc., in which the Account previously invested. For the Money Market,
   Diversified Bond, Zero Coupon Bond Portfolio 2000, Zero Coupon Bond Portfolio
   2005, Conservative Balanced, Flexible Managed, and Equity Portfolios, Pruco
   Life will make daily adjustments that will offset the effect on contract
   owners of any higher investment management fees and expenses charged against
   the Series Fund. Pruco Life also makes, on a non-guaranteed basis, daily
   adjustments to ensure that the portfolio expenses indirectly borne by a
   contract owner investing in the Zero Coupon Bond Portfolio 2005 will not
   exceed the investment management fee.

Without such adjustments the portfolio expenses indirectly borne by a Contract
owner, expressed as a percentage of the average daily net assets by portfolio,
would have been 0.41% for the Money Market Portfolio, 0.42% for the Diversified
Bond Portfolio, 0.62% for the Zero Coupon Bond Portfolio 2000, 0.61% for the
Zero Coupon Bond Port-folio 2005, 0.57% for the Conservative Balanced Portfolio,
0.61% for the Flexible Managed Portfolio, and 0.47% for the Equity Portfolio in
1998. Pruco Life does not intend to discontinue the adjustments for the Zero
Coupon Bond Portfolio 2005 in the future, although it retains the right to do
so. No such offset will be made with respect to the remaining portfolios.

DAILY DEDUCTION FROM THE CONTRACT FUND


We impose a charge for the expenses we incur in administering the contracts,
which includes such things as underwriting the contract, conducting any medical
examinations, establishing and maintaining records, and providing reports to
contract owners. We deduct this charge daily from the assets of each of the
variable investment options, in an amount equivalent to an effective annual rate
of up to 0.35% (.00095723%, daily). During 1999, 1998 and 1997, Pruco Life
received a total of approximately $1,065,000, $1,077,000, and $1,034,000,
respectively, in annual administrative charges under the Contracts. We guarantee
that we will not increase this charge above an effective annual rate of 0.35%
over the life of the Contract.

We charge for assuming the risk that our estimates of longevity and of the
expenses we expect to incur, over the lengthy periods that this contract may be
in effect--estimates that are the basis for the level of the other charges we
make under the contracts--will turn out to be incorrect. The mortality and
expense risk charge will be made by deducting daily, from the assets of each of
the subaccounts and/or the Real Property Account, a percentage of those assets
equivalent to an effective annual rate of up to 0.9% (.00245475%, daily). During
1999, 1998, and 1997, Pruco Life received a total of approximately $2,730,000,
$2,761,000, and $2,652,000, respectively, in mortality and expense risk charges
under the Contracts.



                                       13
<PAGE>


MONTHLY DEDUCTION FROM CONTRACT FUND

Immediately after your Contract is issued the amount of insurance payable upon
your death (the face amount) will be substantially higher than the initial
premium payment. As you grow older, and if investment results (or interest
credited) have been reasonably favorable, the difference between the Contract
Fund and the amount payable to the beneficiary in the event of your death will
become smaller. But the death benefit will always be higher than the Contract
Fund. To enable us to pay this additional amount, we make a monthly charge
commencing on the Contract date. The National Association of Insurance
Commissioners publishes mortality tables from which it can be determined what an
appropriate monthly charge for this purpose should be, depending upon the
insured's age and sex (except where unisex rates apply). One set of such tables
is known as the 1980 CSO Table. Although we have the contractual right to charge
maximum cost of insurance rates, based on the 1980 CSO Table, the actual cost of
insurance charge will generally be lower than that specified by the 1980 CSO
Table. Except as explained in the next paragraph, the charge will be imposed on
each of the Contract's Monthly dates (i.e., the contract date and the same day
of each succeeding month) in an amount equal to 0.05% per month of the contract
fund on such dates. The sum of 12 monthly mortality charges is likely to be
between 0.6% and 0.65% per Contract year of the contract fund. The exact
percentage is uncertain because the contract fund varies in amount daily. If the
contract fund remains level throughout the entire contract year, the sum of the
charges would be 0.6% of the Contract fund. If the contract fund declined
uniformly throughout the year, the sum would be less than 0.6%. If the contract
fund increased uniformly throughout the year, the sum would be greater than
0.6%. (For example, at a 12% gross rate of return, the sum of the monthly
charges would be approximately 0.65%.)

The monthly insurance charge generally will be assessed at a rate of 0.05% per
month of the contract fund, unless as a result of very unfavorable investment
experience, the contract fund falls so low as to make a monthly charge based
upon a rate of 0.05% per month inadequate. In that event, the charge may be
increased to the amount permitted by the 1980 CSO Table. This higher charge
would generally be assessed only when the Contract fund is at least 40% lower
than that which would exist were a net rate of 6% earned in the applicable
variable investment option[s] and maximum mortality charges based on the 1980
CSO Table deducted. This will require that the return average somewhat less than
6% for several years or that a substantial depreciation in the contract fund
occur in a particular year. For example, for a male who buys a contract at age
35, investment results could average a net return of 2.22% per year for about 19
years before we will make a higher cost of insurance charge. As another example,
for a male who buys a contract at age 40 and experiences an average net return
of 6% per year for 8 years, it would take a loss of about 43% in the ninth year
(which could occur if there was a substantial market drop) in order to bring
about an increase in the insurance charge.

SURRENDER CHARGE


A contingent deferred sales charge may be imposed upon surrender of this
contract. This charge compensates us for paying all of the expenses of selling
and distributing the contracts, including sales commissions, printing of
prospectuses, preparation of sales literature, and other promotional activities.
No sales charge will be made if the contract is surrendered after the sixth
contract year. If the contract is surrendered in the first year, the charge will
be 9% of the amount credited under the contract. For each year after the first
that the contract is in effect, the contingent deferred sales charge as a
percentage of the contract fund is reduced by 1% until it reaches 4% in year
six. However, in no event will the sales charge be greater than 9% of the
initial premium payment. If there is an outstanding loan, the amount of any
deferred sales charge will be computed as if the loan had been repaid
immediately before the surrender. No deferred sales charge is applicable to the
death benefit, no matter when that may become payable. During 1999, 1998, and
1997, Pruco Life received a total of approximately $11,000, $28,000, and
$34,000, respectively, in sales charges on surrenders of the Contracts.


OTHER INFORMATION ABOUT CHARGES


As you can see from the foregoing description, the amount credited under the
Contract at the outset of the Contract will be less than the initial premium
payment by the amount of the premium tax payable, unless the initial premium
payment satisfies our standards for elimination or reduction of the premium tax
charge as explained above. Thereafter, assuming a total Series Fund expense
ratio of 0.48% (taking into account any applicable offsets described under THE
PRUDENTIAL SERIES FUND, INC. on page 7), a cost of insurance charge of 0.05% per
month and no Contract debt, the amount credited under the Contract will vary at
a rate that is approximately 2.32% to 2.37% lower than the gross investment
return of the underlying portfolio of the Series Fund in which the assets held
under the Contract are invested.


                                       14
<PAGE>


The account is not a separate taxpayer for purposes of the Internal Revenue
Code. The earnings of the account are taxed as part of the operations of Pruco
Life. No charge is currently being made against the Account for company federal
income taxes (excluding any charge for taxes attributable to premiums). We will
review the question of a charge to the account for company federal income taxes
periodically. Such a charge may be made in future years for any company federal
income taxes that would be attributable to the Account.

Under current law, Pruco Life may incur state and local taxes (in addition to
premium-based taxes) in several states. At present, these taxes are not
significant and they are not charged against the account. If there is a material
change in the applicable state or local tax laws, the imposition of any such
taxes upon Pruco Life that are attributable to the Account may result in a
corresponding charge against the Account.

AMOUNT OF LIFE INSURANCE (THE DEATH BENEFIT)


As stated earlier, when we issue the contract, we will determine the initial
amount of life insurance based on the amount of the initial premium payment.
That amount will be shown on the cover page of the contract and is called the
"face amount". We calculate the face amount as the amount of whole life
insurance that can be provided for the insured by the initial premium, after the
deduction of any applicable state and local premium taxes. This calculation is
based on the 1980 CSO Table and an interest rate of at least 6%. The amount
payable to the beneficiary upon death of the insured--the death benefit--will
never be less than the face amount as long as the Contract remains in force,
except that it will be reduced by the amount of any outstanding loan plus
interest. However, the contract's death benefit may be higher than the face
amount, depending upon the length of time the contract is in force and the
contract's investment results.


1. SOME TYPICAL FACE AMOUNTS. The following table shows for insureds of various
ages what the face amount of insurance will be for an initial premium payment of
$10,000 or $50,000. The table assumes that at issuance the fixed-rate option is
not being credited more than 6% (if a higher rate is being credited under the
fixed-rate option, the face amount will be slightly higher) and, for the $10,000
premium payment, assumes a total state and local premium tax rate of 2%.

         -------------------------------------------------------------
           AGE OF          FACE AMOUNT             FACE AMOUNT
          INSURED          FOR $10,000             FOR $50,000
           ON THE            PREMIUM                 PREMIUM
          CONTRACT   ----------------------  -------------------------
            DATE         MALE      FEMALE       MALE        FEMALE
         ----------  ----------------------  -------------------------
              5        $231,211   $298,154   $1,179,644   $1,521,193
             15        $151,173   $198,359   $  771,290   $1,012,032
             25        $104,157   $129,799   $  531,412   $  662,236
             35        $ 66,654   $ 82,561   $  340,069   $  421,229
             45        $ 42,601   $ 52,980   $  217,353   $  270,304
             55        $ 28,260   $ 35,032   $  144,183   $  178,734
             65        $ 19,832   $ 23,624   $  101,180   $  120,529
             75        $ 14,982   $ 16,631   $   76,439   $   84,850
         -------------------------------------------------------------

In some states the figures in the above table for males will apply to both males
and females. The table does not apply to certain contracts issued to employers
and employee organizations based on unisex rates. See LEGAL CONSIDERATIONS
RELATING TO SEX-DISTINCT PREMIUMS AND BENEFITS, page 23.

2. INCREASE IN DEATH BENEFIT DUE TO FAVORABLE INVESTMENT EXPERIENCE. It is
likely that the amount of insurance will not change for several years after the
contract date. Then, if investment experience is sufficiently favorable (by
which is generally meant an average annual net return of greater than 6%), the
death benefit may increase. The Contract provides that the death benefit will
never be less than the face amount or a stated multiple (which changes every
year with the attained age of the insured) of the contract fund. The latter
ensures that the contract will always have a death benefit large enough to be
treated as life insurance for tax purposes under current law. Representative
multiples for insureds are shown in the table below.


                                       15
<PAGE>

             ------------------------------------------------------------
                                     DEATH BENEFIT IS NO LESS THAN
                                      THE CONTRACT FUND TIMES THE
                                 FOLLOWING MULTIPLE (ASSUMES NO LOAN)
                 AGE OF      --------------------------------------------
                 INSURED             MALE                 FEMALE
                ---------    -------------------  -----------------------
                    5                4.80                  7.50
                   15                4.80                  7.50
                   25                4.56                  6.11
                   35                3.76                  4.52
                   45                2.27                  2.64
                   55                1.55                  1.82
                   65                1.23                  1.40
                   75                1.09                  1.15
                   85                1.05                  1.05
                   95                1.02                  1.02
             ------------------------------------------------------------

Thus, for a male age 55 who purchased a contract with a face amount of $133,307
when he was 35 for a premium payment of $20,000, if the contract fund has
increased to $123,049 due to a gross return in the selected Series Fund
portfolios of 12%, the death benefit payable will be $196,879 at the end of 20
years, based on the assumptions reflected in the table on page T1. If the
Contract fund were to drop subsequently because of unfavorable investment
results, the death benefit would also drop, but not below the face amount. In
some states the figures in the above table for males will apply to both males
and females. The table does not apply to certain Contracts issued to employers
and employee organizations based on unisex rates. See LEGAL CONSIDERATIONS
RELATING TO SEX-DISTINCT PREMIUMS AND BENEFITS, page 23.

LAPSE AND REINSTATEMENT

If the investment results of a contract's variable investment option[s] have
been so unfavorable that the net cash surrender value on any Monthly date has
decreased to zero or less, the contract will go into default.

Should this happen, Pruco Life will send you a notice of default setting forth
the payment necessary to keep the contract in force. This payment must be
received at the Prudential Annuity Service Center within the 61 day grace period
after the notice of default is mailed or the contract will lapse and have no
value. A contract that lapses with an outstanding contract loan may have tax
consequences. See TAX TREATMENT OF CONTRACT BENEFITS on page 20.

A contract that has lapsed may be reinstated within 3 years after the date of
default unless the contract has been surrendered for its cash surrender value.
To reinstate a lapsed Contract, Pruco Life requires renewed evidence of
insurability, and submission of certain payments due under the contract.

A contract that has lapsed has no value and provides no benefits.

ADDITIONAL PREMIUM PAYMENTS

After the contract has been in force for several years, you may be allowed the
option of paying additional premium payments in order to increase your Contract
fund. Such premium payments are allowed when they will not cause the contract to
fail to qualify as life insurance for tax purposes and will not then increase
the amount of insurance. Upon request, we will tell you whether an additional
premium payment can be made and its maximum amount. If


                                       16
<PAGE>


you make an additional premium payment, the amount of that payment, less any
applicable premium taxes, will increase the contract fund but not the death
benefit. These premium payments will not increase the maximum possible deferred
sales charge. We will not accept an additional premium payment if it would,
through the application of the multiples shown on page 17, immediately result in
an increase in the death benefit.

Several factors affect when additional premium payments may be made. For
example, the contract years in which a female issue age 55 may make additional
payments depend upon investment performance. Based upon a hypothetical gross
annual rate of return of 8% in the selected Series Fund portfolio[s], and upon
the assumptions reflected in the table on page T1, an additional payment may
first be made in year 12, and additional payments may be made as late as year
20.

LIVING NEEDS BENEFIT

You may elect to add the Living Needs BenefitSM to your Contract at the time of
issue, provided we receive satisfactory evidence of insurability. The benefit
may vary state-by-state. It can generally be added only to contracts with face
amounts of $50,000 or more or when the aggregate face amounts of the insured's
eligible contracts equal $50,000 or more.

The Living Needs Benefit allows you to elect to receive an accelerated payment
of all or part of the contract's death benefit, adjusted to reflect current
value, at a time when certain special needs exist. The adjusted death benefit
will always be less than the death benefit, but will generally be greater than
the contract's cash surrender value. Depending upon state regulatory approval,
one or both of the following options may be available. You should consult with a
Pruco Life representative to determine whether additional options may be
available.

TERMINAL ILLNESS OPTION. This option is available if the insured is diagnosed as
terminally ill with a life expectancy of 6 months or less. When satisfactory
evidence is provided, Pruco Life will provide an accelerated payment of the
portion of the death benefit selected by you as a Living Needs Benefit. You may:

o  elect to receive the benefit in a single sum or

o  receive equal monthly payments for 6 months.

If the insured dies before all of the payments have been made, the present value
of the remaining payments will be paid to the beneficiary designated in the
Living Needs Benefit claim form in a single sum.


NURSING HOME OPTION. This option is available after the insured has been
confined to an eligible nursing home for 6 months or more. When satisfactory
evidence is provided, including certification by a licensed physician, that the
insured is expected to remain in the nursing home until death, Pruco Life will
provide an accelerated payment of the portion of the death benefit selected by
you as a Living Needs Benefit. You may:

o  elect to receive the benefit in a single sum or

o  receive equal monthly payments for a specified number of years (not more than
   10 nor less than 2), depending upon the age of the insured.

If the insured dies before all of the payments have been made, the present value
of the remaining payments will be paid to the beneficiary designated in the
Living Needs Benefit claim form in a single sum.

All or part of the contract's death benefit may be accelerated under the Living
Needs Benefit. If the benefit is only partially accelerated, a death benefit of
at least $25,000 must remain under the contract. Pruco Life reserves the right
to determine the minimum amount that may be accelerated.

The Living Needs Benefit is available only to the extent regulatory approval has
been obtained. If you want this benefit, it must be requested on the contract's
application. There is no charge for adding the benefit to the contract. However,
an administrative charge (not to exceed $150) will be made at the time the
Living Needs Benefit is paid.


                                       17
<PAGE>


No benefit will be payable if you are required to elect it in order to meet the
claims of creditors or to obtain a government benefit. Pruco Life can furnish
details about the amount of Living Needs Benefit that is available to you , and
the adjusted premium payments that would be in effect if less than the entire
death benefit is accelerated.

You should consider whether adding this settlement option is appropriate in your
situation. Adding the Living Needs Benefit to the contract has no adverse
consequences; however, electing to use it could. With the exception of certain
business-related policies, the Living Needs Benefit is excluded from income if
the insured is terminally ill or chronically ill as defined in the tax law
(although the exclusion in the latter case may be limited). You should consult
with a qualified tax adviser before electing to receive this benefit. Receipt of
a Living Needs Benefit payment may also affect your eligibility for certain
government benefits or entitlements.

ILLUSTRATIONS OF CASH SURRENDER VALUES, DEATH BENEFITS, AND ACCUMULATED PREMIUMS

The following four tables have been prepared to show you how values under this
contract change with investment performance of the account. The tables assume
that no portion of the contract fund is allocated to the fixed-rate option or
the Real Property Account. The tables illustrate how cash surrender values
(reflecting the deduction of deferred sales charges, if any) and death benefits
under contracts issued on an insured of a given age would vary over time if the
return on the assets held in the Series Fund portfolios were a uniform, gross,
after tax, annual rate of 0%, 4%, 8%, and 12%. The death benefits and cash
surrender values would be different from those shown if the returns averaged 0%,
4%, 8%, and 12% but fluctuated over and under those averages throughout the
years. For the hypothetical returns of 0% and 4%, the tables also show when the
contract would go into default, at which time additional payments would be
needed to keep it in force.


The amounts shown for the death benefit and cash surrender value as of each
contract anniversary reflect the fact that the net investment return on the
assets held in the subaccounts is lower than the gross after tax return of the
portfolios. This is because these tables assume a total Series Fund expense
ratio of 0.47%, and also reflect the daily charge to the account for the cost of
administration, which is equivalent to an effective annual charge of 0.35%, and
the daily charge to the account for assuming mortality and expense risks, which
is equivalent to an effective annual charge of 0.9%. The actual fees and
expenses of the portfolios associated with a particular contract may be more or
less than 0.47% and will depend on which subaccounts are selected. Based on the
above assumptions, gross annual rates of return of 0%, 4%, 8%, and 12% thus
correspond in the tables to approximate net annual rates of return of -1.73%,
2.27%, 6.27%, and 10.27%.


The tables on pages T1 and T3 also reflect the fact that Pruco Life generally
makes its monthly charge for providing insurance protection at an amount equal
to 0.05% per month (approximately 0.6% to 0.65% per year) of the assets in the
subaccounts attributable to the contract, even though it has the contractual
right to charge a higher amount. Where the amount credited under a contract
falls to such a level as to make this monthly charge inadequate in Pruco Life's
judgment (i.e., where the contract fund value is at least 40% below that which
would exist were a net rate of 6% earned in the applicable subaccounts and
maximum mortality charges deducted), Pruco Life will deduct the maximum monthly
mortality charge. See MONTHLY DEDUCTION FROM CONTRACT FUND, page 14. The 0% and
4% columns in the tables on pages T1 and T3 reflect the deduction of these
larger mortality charges in later years in accordance with this standard. The
tables on pages T2 and T4 reflect the deduction of the maximum cost of insurance
charge at all times, even though Pruco Life does not currently intend to charge
the maximum contractual cost of insurance rates other than under the
circumstances where the contract fund value falls to a specified level, as
explained above. All of the tables reflect the deduction of a sales charge in
the calculation of the cash surrender value during the first 6 contract years.

The tables also reflect the fact that no charges for federal or state income
taxes are currently made against the account. If such a charge is made in the
future, it will take a higher gross rate of return than it does now to produce
the net after-tax returns shown in the tables.

If you are considering the purchase of a variable life insurance contract from
another insurance company, you


                                       18
<PAGE>

                                  ILLUSTRATIONS

                                  -------------

                          DISCOVERY LIFE PLUS CONTRACT
                                MALE ISSUE AGE 35
                         $20,000 INITIAL PREMIUM PAYMENT
                 USING CURRENT SCHEDULE OF MORTALITY CHARGES (1)

                                          Death Benefit
                         ----------------------------------------------------
                               Assuming Hypothetical Gross (and Net)
           Premium                  Annual Investment Return of
End of   Accumulated     ----------------------------------------------------
Policy  at 4% Interest     0% Gross     4% Gross     8% Gross     12% Gross
 Year      Per Year      (-1.73% Net)  (2.27% Net)  (6.27% Net)  (10.27% Net)
- ------  --------------   ------------  -----------  -----------  ------------
   1      $ 20,800         $133,307     $133,307     $133,307    $  133,307
   2      $ 21,632         $133,307     $133,307     $133,307    $  133,307
   3      $ 22,497         $133,307     $133,307     $133,307    $  133,307
   4      $ 23,397         $133,307     $133,307     $133,307    $  133,307
   5      $ 24,333         $133,307     $133,307     $133,307    $  133,307
   6      $ 25,306         $133,307     $133,307     $133,307    $  133,307
   7      $ 26,319         $133,307     $133,307     $133,307    $  133,307
   8      $ 27,371         $133,307     $133,307     $133,307    $  133,307
   9      $ 28,466         $133,307     $133,307     $133,307    $  133,307
  10      $ 29,605         $133,307     $133,307     $133,307    $  133,307
  15      $ 36,019         $133,307     $133,307     $133,307    $  149,824
  20      $ 43,822         $133,307     $133,307     $133,307    $  196,523
  25      $ 53,317         $      0(2)  $133,307     $133,307    $  270,128
  30      $ 64,868         $      0     $133,307     $133,307    $  384,345
  35      $ 78,922         $      0     $      0(2)  $154,841    $  564,345
  40      $ 96,020         $      0     $      0     $193,149    $  846,812
  45      $116,824         $      0     $      0     $247,153    $1,303,447


                                        Cash Surrender Value
                         ----------------------------------------------------
                               Assuming Hypothetical Gross (and Net)
           Premium                  Annual Investment Return of
End of   Accumulated     ----------------------------------------------------
Policy  at 4% Interest     0% Gross     4% Gross     8% Gross     12% Gross
 Year      Per Year      (-1.73% Net)  (2.27% Net)  (6.27% Net)  (10.27% Net)
- ------  --------------   ------------  -----------  -----------  ------------
   1      $ 20,800         $17,423      $18,132     $ 18,904    $   19,684
   2      $ 21,632         $17,206      $18,635     $ 20,121    $   21,748
   3      $ 22,497         $16,990      $19,150     $ 21,486    $   24,011
   4      $ 23,397         $16,774      $19,677     $ 22,940    $   26,594
   5      $ 24,333         $16,560      $20,216     $ 24,491    $   29,460
   6      $ 25,306         $16,346      $20,767     $ 26,143    $   32,631
   7      $ 26,319         $16,633      $21,991     $ 28,766    $   37,257
   8      $ 27,371         $16,080      $22,356     $ 30,387    $   40,838
   9      $ 28,466         $15,332      $22,727     $ 32,099    $   44,763
  10      $ 29,605         $14,555      $23,103     $ 33,908    $   49,064
  15      $ 36,019         $10,108      $25,083     $ 44,598    $   77,629
  20      $ 43,822         $ 4,160      $26,548     $ 58,660    $  122,827
  25      $ 53,317         $     0(2)   $22,175     $ 77,155    $  194,337
  30      $ 64,868         $     0      $12,398     $101,481    $  307,476
  35      $ 78,922         $     0      $     0(2)  $133,483    $  486,504
  40      $ 96,020         $     0      $     0     $175,590    $  769,828
  45      $116,824         $     0      $     0     $230,984    $1,218,174

- ------------

(1)  Illustrated values assume 2% state and/or local premium taxes, no Contract
     loan, and the deduction of the monthly cost of insurance charge in
     accordance with the standard explained in the prospectus. The cash
     surrender values reflect the contingent deferred sales charges applicable
     to surrenders within the first 6 Contract years. The face amount is based
     upon the assumption that at issuance the fixed-rate option is not being
     credited more than 6%.

(2)  Based on a gross return of 0%, the Contract would go into default in policy
     year 23 unless an additional premium payment was made. Based on a gross
     return of 4%, the Contract would go into default in policy year 34 unless
     an additional premium payment was made.

The hypothetical investment rates of return shown above and elsewhere in this
prospectus are illustrative only and should not be deemed a representation of
past or future investment rates of return. Actual rates of return may be more or
less than those shown and will depend on a number of factors including the
investment allocations made by an owner, prevailing interest rates, and rates of
inflation. The death benefit and cash surrender value for a contract would be
different from those shown if the actual rates of return averaged 0%, 4%, 8%,
and 12% over a period of years but also fluctuated above or below those averages
for individual contract years. No representations can be made by Pruco Life or
the Series Fund that these hypothetical rates of return can be achieved for any
one year or sustained over any period of time.

                                       T1
<PAGE>

                          DISCOVERY LIFE PLUS CONTRACT
                                MALE ISSUE AGE 35
                         $20,000 INITIAL PREMIUM PAYMENT
                 USING MAXIMUM CONTRACTUAL MORTALITY CHARGES (1)

                                          Death Benefit
                         ----------------------------------------------------
                               Assuming Hypothetical Gross (and Net)
           Premium                  Annual Investment Return of
End of   Accumulated     ----------------------------------------------------
Policy  at 4% Interest     0% Gross     4% Gross     8% Gross     12% Gross
 Year      Per Year      (-1.73% Net)  (2.27% Net)  (6.27% Net)  (10.27% Net)
- ------  --------------   ------------  -----------  -----------  ------------

   1      $ 20,800         $133,307     $133,307     $133,307    $  133,307
   2      $ 21,632         $133,307     $133,307     $133,307    $  133,307
   3      $ 22,497         $133,307     $133,307     $133,307    $  133,307
   4      $ 23,397         $133,307     $133,307     $133,307    $  133,307
   5      $ 24,333         $133,307     $133,307     $133,307    $  133,307
   6      $ 25,306         $133,307     $133,307     $133,307    $  133,307
   7      $ 26,319         $133,307     $133,307     $133,307    $  133,307
   8      $ 27,371         $133,307     $133,307     $133,307    $  133,307
   9      $ 28,466         $133,307     $133,307     $133,307    $  133,307
  10      $ 29,605         $133,307     $133,307     $133,307    $  133,307
  15      $ 36,019         $133,307     $133,307     $133,307    $  142,685
  20      $ 43,822         $133,307     $133,307     $133,307    $  187,154
  25      $ 53,317         $      0(2)  $133,307     $133,307    $  257,182
  30      $ 64,868         $      0     $      0(2)  $133,307    $  365,852
  35      $ 78,922         $      0     $      0     $133,307    $  537,030
  40      $ 96,020         $      0     $      0     $133,307    $  805,505
  45      $116,824         $      0     $      0     $162,619    $1,238,361


                                            Cash Surrender Value
                         ----------------------------------------------------
                               Assuming Hypothetical Gross (and Net)
           Premium                  Annual Investment Return of
End of   Accumulated     ----------------------------------------------------
Policy  at 4% Interest     0% Gross     4% Gross     8% Gross     12% Gross
 Year      Per Year      (-1.73% Net)  (2.27% Net)  (6.27% Net)  (10.27% Net)
- ------  --------------   ------------  -----------  -----------  ------------

   1      $ 20,800         $17,305      $18,014     $ 18,775    $   19,554
   2      $ 21,632         $16,950      $18,380     $ 19,868    $   21,476
   3      $ 22,497         $16,574      $18,736     $ 21,077    $   23,603
   4      $ 23,397         $16,173      $19,079     $ 22,353    $   26,023
   5      $ 24,333         $15,745      $19,405     $ 23,697    $   28,697
   6      $ 25,306         $15,285      $19,709     $ 25,111    $   31,653
   7      $ 26,319         $15,247      $20,606     $ 27,420    $   36,001
   8      $ 27,371         $14,549      $20,651     $ 28,736    $   39,324
   9      $ 28,466         $13,821      $20,660     $ 30,105    $   42,970
  10      $ 29,605         $13,063      $20,631     $ 31,529    $   46,975
  15      $ 36,019         $ 8,703      $19,763     $ 39,574    $   73,930
  20      $ 43,822         $ 2,817      $17,012     $ 49,297    $  116,971
  25      $ 53,317         $     0(2)   $10,781     $ 60,857    $  185,023
  30      $ 64,868         $     0      $     0(2)  $ 74,755    $  292,682
  35      $ 78,922         $     0      $     0     $ 92,005    $  462,957
  40      $ 96,020         $     0      $     0     $115,932    $  732,277
  45      $116,824         $     0      $     0     $151,980    $1,157,346

- ------------

(1)  Illustrated values assume 2% state and/or local premium taxes, no Contract
     loan, and the deduction of maximum monthly cost of insurance charges. The
     cash surrender values reflect the contingent deferred sales charges
     applicable to surrenders within the first 6 Contract years. The face amount
     is based upon the assumption that at issuance the fixed-rate option is not
     being credited more than 6%.

(2)  Based on a gross return of 0% and the deduction of maximum cost of
     insurance charges, the Contract would go into default in policy year 22
     unless an additional premium payment was made. Based on a gross return of
     4% and the deduction of maximum cost of insurance charges, the Contract
     would go into default in policy year 30 unless an additional premium
     payment was made.

The hypothetical investment rates of return shown above and elsewhere in this
prospectus are illustrative only and should not be deemed a representation of
past or future investment rates of return. Actual rates of return may be more or
less than those shown and will depend on a number of factors including the
investment allocations made by an owner, prevailing interest rates, and rates of
inflation. The death benefit and cash surrender value for a contract would be
different from those shown if the actual rates of return averaged 0%, 4%, 8%,
and 12% over a period of years but also fluctuated above or below those averages
for individual contract years. No representations can be made by Pruco Life or
the Series Fund that these hypothetical rates of return can be achieved for any
one year or sustained over any period of time.

                                       T2
<PAGE>

                          DISCOVERY LIFE PLUS CONTRACT
                               FEMALE ISSUE AGE 55
                        $100,000 INITIAL PREMIUM PAYMENT
                 USING CURRENT SCHEDULE OF MORTALITY CHARGES (1)

                                          Death Benefit
                         ----------------------------------------------------
                               Assuming Hypothetical Gross (and Net)
           Premium                  Annual Investment Return of
End of   Accumulated     ----------------------------------------------------
Policy  at 4% Interest     0% Gross     4% Gross     8% Gross     12% Gross
 Year      Per Year      (-1.73% Net)  (2.27% Net)  (6.27% Net)  (10.27% Net)
- ------  --------------   ------------  -----------  -----------  ------------

   1      $104,000         $357,468     $357,468     $357,468    $  357,468
   2      $108,160         $357,468     $357,468     $357,468    $  357,468
   3      $112,486         $357,468     $357,468     $357,468    $  357,468
   4      $116,986         $357,468     $357,468     $357,468    $  357,468
   5      $121,665         $357,468     $357,468     $357,468    $  357,468
   6      $126,532         $357,468     $357,468     $357,468    $  357,468
   7      $131,593         $357,468     $357,468     $357,468    $  357,468
   8      $136,857         $357,468     $357,468     $357,468    $  357,468
   9      $142,331         $357,468     $357,468     $357,468    $  357,468
  10      $148,024         $357,468     $357,468     $357,468    $  360,473
  15      $180,094         $357,468     $357,468     $357,468    $  510,931
  20      $219,112         $      0(2)  $357,468     $357,468    $  733,202
  25      $266,584         $      0     $357,468(2)  $433,020    $1,090,669


                                      Cash Surrender Value
                         ----------------------------------------------------
                               Assuming Hypothetical Gross (and Net)
           Premium                  Annual Investment Return of
End of   Accumulated     ----------------------------------------------------
Policy  at 4% Interest     0% Gross     4% Gross     8% Gross     12% Gross
 Year      Per Year      (-1.73% Net)  (2.27% Net)  (6.27% Net)  (10.27% Net)
- ------  --------------   ------------  -----------  -----------  ------------

   1      $104,000         $88,891     $ 92,658     $ 96,634      $100,610
   2      $108,160         $87,784     $ 95,076     $102,659      $111,144
   3      $112,486         $86,682     $ 97,703     $109,622      $122,690
   4      $116,986         $85,583     $100,391     $117,043      $135,685
   5      $121,665         $84,488     $103,141     $124,953      $150,307
   6      $126,532         $83,399     $105,955     $133,382      $166,486
   7      $131,593         $84,860     $112,200     $146,768      $190,089
   8      $136,857         $82,893     $114,060     $155,037      $208,357
   9      $142,331         $78,487     $115,952     $163,772      $228,380
  10      $148,024         $73,247     $117,874     $172,999      $250,328
  15      $180,094         $40,869     $127,976     $227,543      $396,070
  20      $219,112         $     0(2)  $138,943     $299,285      $626,668
  25      $266,584         $     0     $150,850(2)  $393,654      $991,517

- -------------

(1)  Illustrated values assume no deduction for state and/or local premium
     taxes, no Contract loan, and the deduction of the monthly cost of insurance
     charge in accordance with the standard explained in the prospectus. The
     cash surrender values reflect the contingent deferred sales charges
     applicable to surrenders within the first 6 Contract years. The face amount
     is based upon the assumption that at issuance the fixed-rate option is not
     being credited more than 6%.

(2)  Based on a gross return of 0%, the Contract would go into default in policy
     year 20 unless an additional premium payment was made. Based on a gross
     return of 4%, the Contract would go into default in policy year 33 unless
     an additional premium payment was made.

The hypothetical investment rates of return shown above and elsewhere in this
prospectus are illustrative only and should not be deemed a representation of
past or future investment rates of return. Actual rates of return may be more or
less than those shown and will depend on a number of factors including the
investment allocations made by an owner, prevailing interest rates, and rates of
inflation. The death benefit and cash surrender value for a contract would be
different from those shown if the actual rates of return averaged 0%, 4%, 8%,
and 12% over a period of years but also fluctuated above or below those averages
for individual contract years. No representations can be made by Pruco Life or
the Series Fund that these hypothetical rates of return can be achieved for any
one year or sustained over any period of time.

                                       T3
<PAGE>

                          DISCOVERY LIFE PLUS CONTRACT
                               FEMALE ISSUE AGE 55
                        $100,000 INITIAL PREMIUM PAYMENT
                 USING MAXIMUM CONTRACTUAL MORTALITY CHARGES (1)

                                          Death Benefit
                         ----------------------------------------------------
                               Assuming Hypothetical Gross (and Net)
           Premium                  Annual Investment Return of
End of   Accumulated     ----------------------------------------------------
Policy  at 4% Interest     0% Gross     4% Gross     8% Gross     12% Gross
 Year      Per Year      (-1.73% Net)  (2.27% Net)  (6.27% Net)  (10.27% Net)
- ------  --------------   ------------  -----------  -----------  ------------

   1      $104,000         $357,468     $357,468     $357,468    $  357,468
   2      $108,160         $357,468     $357,468     $357,468    $  357,468
   3      $112,486         $357,468     $357,468     $357,468    $  357,468
   4      $116,986         $357,468     $357,468     $357,468    $  357,468
   5      $121,665         $357,468     $357,468     $357,468    $  357,468
   6      $126,532         $357,468     $357,468     $357,468    $  357,468
   7      $131,593         $357,468     $357,468     $357,468    $  357,468
   8      $136,857         $357,468     $357,468     $357,468    $  357,468
   9      $142,331         $357,468     $357,468     $357,468    $  357,468
  10      $148,024         $357,468     $357,468     $357,468    $  357,468
  15      $180,094         $357,468     $357,468     $357,468    $  474,580
  20      $219,112         $      0(2)  $357,468     $357,468    $  680,793
  25      $266,584         $      0     $      0(2)  $357,468    $1,012,204


                                       Cash Surrender Value
                         ----------------------------------------------------
                               Assuming Hypothetical Gross (and Net)
           Premium                  Annual Investment Return of
End of   Accumulated     ----------------------------------------------------
Policy  at 4% Interest     0% Gross     4% Gross     8% Gross     12% Gross
 Year      Per Year      (-1.73% Net)  (2.27% Net)  (6.27% Net)  (10.27% Net)
- ------  --------------   ------------  -----------  -----------  ------------

   1      $104,000         $87,714      $91,362     $ 95,335      $ 99,308
   2      $108,160         $85,276      $92,562     $100,144      $108,416
   3      $112,486         $82,686      $93,699     $105,626      $118,505
   4      $116,986         $79,940      $94,731     $111,414      $130,140
   5      $121,665         $77,018      $95,642     $117,523      $143,064
   6      $126,532         $73,888      $96,396     $123,957      $157,425
   7      $131,593         $72,686      $99,947     $134,759      $178,750
   8      $136,857         $68,162      $99,217     $140,596      $195,033
   9      $142,331         $63,334      $98,161     $146,617      $213,009
  10      $148,024         $58,146      $96,726     $152,818      $232,898
  15      $180,094         $25,708      $82,567     $187,298      $367,891
  20      $219,112         $     0(2)   $47,819     $228,777      $581,874
  25      $266,584         $     0      $     0(2)  $279,353      $920,185

- ------------

(1)  Illustrated values assume no deduction for state and/or local premium
     taxes, no Contract loan, and the deduction of maximum monthly cost of
     insurance charges. The cash surrender values reflect the contingent
     deferred sales charges applicable to surrenders within the first 6 Contract
     years. The face amount is based upon the assumption that at issuance the
     fixed-rate option is not being credited more than 6%.

(2)  Based on a gross return of 0% and the deduction of maximum cost of
     insurance charges, the Contract would go into default in policy year 18
     unless an additional premium payment was made. Based on a gross return of
     4% and the deduction of maximum cost of insurance charges, the Contract
     would go into default in policy year 24 unless an additional premium
     payment was made.

The hypothetical investment rates of return shown above and elsewhere in this
prospectus are illustrative only and should not be deemed a representation of
past or future investment rates of return. Actual rates of return may be more or
less than those shown and will depend on a number of factors including the
investment allocations made by an owner, prevailing interest rates, and rates of
inflation. The death benefit and cash surrender value for a contract would be
different from those shown if the actual rates of return averaged 0%, 4%, 8%,
and 12% over a period of years but also fluctuated above or below those averages
for individual contract years. No representations can be made by Pruco Life or
the Series Fund that these hypothetical rates of return can be achieved for any
one year or sustained over any period of time.

                                       T4
<PAGE>


should not rely upon these tables for comparison purposes. A comparison between
two tables, each showing values for a 35 year old man, may be useful for a 35
year old man but would be inaccurate if made for insureds of other ages or sex.
Your Pruco Life representative can provide you with a hypothetical illustration
for your own age and sex. You can obtain an illustration using a premium amount
other than those shown in this prospectus. You may use assumed gross returns
different than those shown in the tables, although currently they may not be
higher than 12%.

WHEN PROCEEDS ARE PAID

Pruco Life will generally pay any death benefit, cash surrender value or loan
proceeds within 7 days after receipt at the Prudential Annuity Service Center of
all the documents required for such a payment. Other than the death benefit,
which is determined as of the date of death, the amount will be determined as of
the end of the valuation period in which the necessary documents are received.
However, Pruco Life may delay payment of proceeds from the subaccount[s] and the
portion of the death benefit due under the contract in excess of the face amount
if the disposal or valuation of the account's assets is not reasonably
practicable because the NYSE is closed for other than a regular holiday or
weekend, trading is restricted by the SEC or the SEC declares an emergency.

With respect to the amount of any cash surrender value allocated to the
fixed-rate option, Pruco Life expects to pay the cash surrender value promptly
upon request. However, Pruco Life has the right to delay payment of such cash
surrender value for up to 6 months (or a shorter period if required by
applicable law). Pruco Life will pay interest of at least 3% a year if it delays
such a payment for 30 days or more (or a shorter period if required by
applicable law).

REPORTS TO CONTRACT OWNERS

Once each contract year, you will be sent statements that provide certain
information pertinent to your contract. These statements detail values and
transactions made and specific contract data that apply only to each particular
contract. On request, you will be sent a current statement in a form similar to
that of the annual statement described above, but Pruco Life may limit the
number of such requests or impose a reasonable charge if such requests are made
too frequently.

You will be sent annual and semi-annual reports of the Series Fund showing the
financial condition of the portfolios and the investments held in each.

If a single individual or company invests in the Series Fund through more than
one variable insurance contract, then the individual or company will receive
only one copy of each annual and semi-annual report issued by the Series Fund.
However, if such individual or company wishes to receive multiple copies of any
such report, a request may be made by calling the toll-free telephone number
listed on the cover page of this prospectus.

TAX TREATMENT OF CONTRACT BENEFITS

INTRODUCTION.

This summary provides general information on the federal income tax treatment of
the contract. It is not a complete statement of what the federal income taxes
will be in all circumstances. It is based on current law and interpretations,
which may change. It does not cover state taxes or other taxes. It is not
intended as tax advice. You should consult your own qualified tax adviser for
complete information and advice.

TREATMENT AS LIFE INSURANCE.

This contract must meet certain requirements to qualify as life insurance for
tax purposes. These requirements include certain definitional tests and rules
for diversification of the contract's investments.


                                       19
<PAGE>

We believe we have taken adequate steps to insure that the contract qualifies as
life insurance for tax purposes. Generally speaking this means that:

o  you will not be taxed on the growth of the investment option in the contract,
   unless you receive a distribution from the contract.

o  the contract's death benefit will be tax free to your beneficiary.

Although we believe that the contract should qualify as life insurance for tax
purposes, there are some uncertainties, particularly because the Secretary of
the Treasury has not yet issued permanent regulations that bear on this
question. Accordingly, we reserve the right to make changes, which will be
applied uniformly to all Contract owners after advance written notice, that we
deem necessary to insure that the contract will qualify as life insurance.

PRE-DEATH DISTRIBUTIONS.

The contract is modified endowment contract under federal tax law. This means
that:

o  amounts you receive under the contract before the insured's death, including
   loans and withdrawals, are included in your income on an income first basis
   (that is, you will have taxable income to the extent that the contract fund
   before surrender charges exceeds the premiums paid for the contract increased
   by the amount of any loans previously included in income and reduced by any
   untaxed amounts previously received other than the amount of any loans
   excludible from income). An assignment of a modified endowment contract is
   taxable in the same way. These rules also apply to pre-death distributions,
   including loans, made during the two-year period before the time that the
   contract became a modified endowment contract.

o  any taxable income on pre-death distributions (including full surrenders) is
   subject to a penalty of 10 percent unless the amount is received on or after
   age 59-1/2, on account of you becoming disabled or as a life annuity. It is
   presently unclear how the penalty tax provisions apply to the contracts owned
   by a business.

o  all modified endowment contracts issued by us to you during the same calendar
   year are treated as a single contract for purposes of applying these rules.

WITHHOLDING

You must affirmatively elect that no taxes be withheld from a pre-death
distribution. Otherwise, the taxable portion of any amounts you receive will be
subject to withholding. You are not permitted to elect out of withholding if you
do not provide a social security number or other taxpayer identification number.
You may be subject to penalties under the estimated tax payment rules if your
withholding and estimated tax payments are insufficient to cover the tax due.

OTHER TAX CONSIDERATIONS

 If you transfer or assign the contract to someone else, there may be gift,
estate and/or income tax consequences. If you transfer the contract to a person
two or more generations younger than you (or designate such a younger person as
a beneficiary), there may be generation skipping transfer tax consequences.
Deductions for interest paid or accrued on contract debt or on other loans that
are incurred or continued to purchase or carry the contract may be denied. Your
individual situation or that of your beneficiary will determine the federal
estate taxes and the state and local estate, inheritance and other taxes due if
you or the insured dies.

BUSINESS-OWNED LIFE INSURANCE.

If a business, rather than an individual, is owner of the contract, there are
some additional rules. Business contract owners generally cannot deduct premium
payments. Business contract owners generally cannot take tax


                                       20
<PAGE>

deductions for interest on contract debt paid or accrued after October 13, 1995.
An exception permits the deduction of interest on policy loans on contracts for
up to 20 key persons. The interest deduction for contract debt on these loans is
limited to a prescribed interest rate and a maximum aggregate loan amount of
$50,000 per key insured person. The corporate alternative minimum tax also
applies to business-owned life insurance. This is an indirect tax on additions
to the contract fund or death benefits received under business-owned life
insurance policies.



VOTING RIGHTS


Matters on which contract owners may give voting instructions include the
following:

o  election of the Board of Directors of the Series Fund;

o  ratification of the independent accountant of the Series Fund;

o  approval of the investment advisory agreement for a portfolio of the Series
   Fund corresponding to the contract owner's selected subaccount[s];

o  any change in the fundamental investment policy of a portfolio corresponding
   to the contract owner's selected subaccount[s]; and

o  any other matter requiring a vote of the shareholders of the Series Fund.

With respect to approval of the investment advisory agreement or any change in a
portfolio's fundamental investment policy, contract owners participating in such
portfolios will vote separately on the matter, pursuant to the requirements of
Rule 18f-2 under the 1940 Act.

The number of Series Fund shares for which instructions may be given by a
contract owner is determined by dividing the portion of the value of the
Contract derived from participation in a subaccount, by the value of one share
in the corresponding portfolio of the Series Fund. The number of votes for which
each Contract owner may give Pruco Life instructions will be determined as of
the record date chosen by the Board of Directors of the Series Fund. Pruco Life
will furnish contract owners with proper forms and proxies to enable them to
give these instructions. Pruco Life reserves the right to modify the manner in
which the weight to be given voting instructions is calculated where such a
change is necessary to comply with current federal regulations or
interpretations of those regulations.

Pruco Life may, if required by state insurance regulations, disregard voting
instructions if such instructions would require shares to be voted so as to
cause a change in the sub-classification or investment objectives of one or more
of the Series Fund's portfolios, or to approve or disapprove an investment
advisory contract for the Series Fund. In addition, Pruco Life itself may
disregard voting instructions that would require changes in the investment
policy or investment advisor of one or more of the Series Fund's portfolios,
provided that Pruco Life reasonably disapproves such changes in accordance with
applicable federal regulations. If Pruco Life does disregard voting
instructions, it will advise Contract owners of that action and its reasons for
such action in the next annual or semi-annual report to contract owners.


                                       21
<PAGE>

SALE OF THE CONTRACT AND SALES COMMISSIONS

Currently, Pruco Securities Corporation ("Prusec"), an indirect wholly-owned
subsidiary of Prudential, which was organized in 1971 under New Jersey law, acts
as the principal underwriter of the contract. Pruco Life expects that during
2000 Prusec's responsibilities as principal underwriter will be assigned to
Prudential Investment Management Services LLC ("PIMS"). PIMS, also an indirect
wholly-owned subsidiary of Prudential, is a limited liability corporation
organized under Delaware law in 1996. PIMS will act as principal underwriter
under substantially the same terms as Prusec does currently. Both Prusec and
PIMS are registered as broker-dealers under the Securities Exchange Act of 1934
and are members of the National Association of Securities Dealers, Inc. The
principal business address of both Prusec and PIMS is 751 Broad Street, Newark,
New Jersey 07102-3777.

The Contract is currently sold by registered representatives of the principal
underwriter and may also be sold through other broker-dealers authorized by the
principal underwriter, including broker-dealers otherwise unaffiliated with
Prudential. Registered representatives of such other unaffiliated broker-dealers
may be paid on a different basis than registered representatives of the
principal underwriter or broker-dealers affiliated with Prudential. The maximum
commission that will be paid to the broker-dealer to cover both the individual
representative's commission and other distribution expenses will not exceed 6%
of the purchase payment. In addition, trail commissions based on the size of the
contract fund may be paid.

Sales expenses in any year are not equal to the deduction for sales load in that
year. Pruco Life expects to recover its total sales expenses over the periods
the contracts are in effect. To the extent that the sales charges are
insufficient to cover total sales expenses, the sales expenses will be recovered
from Pruco Life's surplus, which may include the amounts derived from the
mortality and expense risk charge.

SUBSTITUTION OF SERIES FUND SHARES

Although Pruco Life believes it to be unlikely, it is possible that in the
judgment of its management, one or more of the portfolios of the Series Fund may
become unsuitable for investment by Contract owners because of investment policy
changes, tax law changes or the unavailability of shares for investment. In that
event, Pruco Life may seek to substitute the shares of another portfolio or of
an entirely different mutual fund. Before this can be done, the approval of the
SEC, and possibly one or more state insurance departments, will be required. You
will be notified of any substitution.

LEGAL CONSIDERATIONS RELATING TO SEX-DISTINCT PREMIUMS AND BENEFITS

The contract generally employs mortality tables that distinguish between males
and females. Thus, initial amounts of insurance that a given premium will buy,
cost of insurance charges, and benefits under contracts issued on males and
females of the same age will generally differ. However, in those states that
have adopted regulations prohibiting sex-distinct insurance rates, initial
amounts of insurance, cost of insurance charges and benefits will be based on
male mortality tables whether the insured is male or female. In addition,
employers and employee organizations considering purchase of a contract should
consult their legal advisors to determine whether purchase of a contract based
on sex-distinct actuarial tables is consistent with Title VII of the Civil
Rights Act of 1964 or other applicable law. We may offer the contract with
unisex mortality rates to such prospective purchasers.

OTHER GENERAL CONTRACT PROVISIONS

ASSIGNMENT. This contract may not be assigned if such assignment would violate
any federal, state or local law or regulation. Generally, the contract may not
be assigned to another insurance company without Pruco Life's consent. Pruco
Life assumes no responsibility for the validity or sufficiency of any
assignment, and it will not be obligated to comply with any assignment unless it
has received a copy at the Prudential Annuity Service Center.


                                       22
<PAGE>


BENEFICIARY. You designate the beneficiary in the application. Thereafter, you
may change the beneficiary, provided it is in accordance with the terms of the
contract. Should the insured die with no surviving beneficiary, the insured's
estate will become the beneficiary.

INCONTESTABILITY. After the contract has been in force during the insured's
lifetime for two years from the contract date, Pruco Life will not contest its
liability under the contract in accordance with its terms.

MISSTATEMENT OF AGE OR SEX. If the insured's stated age or sex (except where
unisex rates apply) or both are incorrect in the contract, Pruco Life will
adjust the benefits payable, as required by law, to reflect what the premium
would have purchased for the correct age and sex.

SETTLEMENT OPTIONS. The contract grants you, or your beneficiary, a variety of
ways to receive contract proceeds, other than in a lump sum. Any Pruco Life
representative authorized to sell this Contract can explain these options upon
request.

SUICIDE EXCLUSION. Generally, if the insured, whether sane or insane, dies by
suicide within two years from the contract date, Pruco Life will pay no more
under the contract than the sum of the premiums paid.

STATE REGULATION

Pruco Life is subject to regulation and supervision by the Department of
Insurance of the State of Arizona, which periodically examines its operations
and financial condition. It is also subject to the insurance laws and
regulations of all jurisdictions in which it is authorized to do business.

Pruco Life is required to submit annual statements of its operations, including
financial statements, to the insurance departments of the various jurisdictions
in which it does business to determine solvency and compliance with local
insurance laws and regulations.

In addition to the annual statements referred to above, Pruco Life is required
to file with Arizona and other jurisdictions a separate statement with respect
to the operations of all its variable contract accounts, in a form promulgated
by the National Association of Insurance Commissioners.

EXPERTS


The consolidated financial statements of Pruco Life and its subsidiaries as of
December 31, 1999 and 1998 and for each of the three years in the period ended
December 31, 1999 and the financial statements of the Account as of December 31,
1999 and for each of the three years in the period then ended included in this
prospectus have been so included in reliance on the reports of
PricewaterhouseCoopers LLP, independent accountants, given on the authority of
said firm as experts in auditing and accounting. PricewaterhouseCoopers LLP's
principal business address is 1177 Avenue of the Americas, New York, New York
10036.


Actuarial matters included in this prospectus have been examined by Ikwhan Oh,
FSA, MAA, Vice President and Company Actuary of Pruco Life, whose opinion is
filed as an exhibit to the registration statement.

LITIGATION



We are subject to legal and regulatory actions in the ordinary course of our
businesses, including class actions. Pending legal regulatory actions include
proceedings specific to our practices and proceedings generally applicable to
business practices in the industries in which we operate. In certain of these
lawsuits, large and/or indeterminate amounts are sought, including punitive or
exemplary damages.

                                       23


<PAGE>

In particular, Pruco Life and Prudential have been subject to substantial
regulatory actions and civil litigation involving individual life insurance
sales practices. In 1996, Prudential, on behalf of itself and many of its life
insurance subsidiaries including Pruco Life, entered into settlement agreements
with relevant insurance regulatory authorities and plaintiffs in the principal
life insurance sales practices class action lawsuit covering policyholders of
individual permanent life insurance policies issued in the United States from
1982 to 1995. Pursuant to the settlements, the companies agreed to various
changes to their sales and business practices controls and a series of fines,
and are in the process of distributing final remediation relief to eligible
class members. In many instances, claimants have the right to "appeal" the
decision to an independent reviewer. The bulk of such appeals were resolved in
1999, and the balance is expected to be addressed in 2000. As of January 31,
2000, Prudential and/or Pruco Life remained a party to two putative class
actions and approximately 158 individual actions relating to permanent life
insurance policies issued in the United States between 1982 and 1995. Additional
suits may be filed by individuals who opted out of the settlements. While the
approval of the class action settlement is now final, Prudential and Pruco Life
remain subject to oversight and review by insurance regulators and other
regulatory authorities with respect to their sales practices and the conduct of
the remediation program. The U.S. District Court has also retained jurisdiction
as to all matters relating to the administration, consummation, enforcement and
interpretation of the settlements.


Prudential has indemnified Pruco Life for any liabilities incurred in connection
with sales practices litigation covering policyholders of individual permanent
life insurance policies issued in the United States from 1982 to 1995.

In 1999, 1998, 1997 and 1996, Prudential recorded provision in its Consolidated
Statements of Operation of $100 million, $1,150 million, $2,030 million and
$1,125 million, respectively, to provide for estimated remediation costs, and
additional sales practices costs including related administrative costs,
regulatory fines, penalties and related payments, litigation costs and
settlements, including settlements associated with the resolution of claims of
deceptive sales practices asserted by policyholders who elected to "opt-out" of
the class action settlement and litigate their claims against Prudential
separately, and other fees and expenses associated with the resolution of sales
practices issues.




ADDITIONAL INFORMATION


Pruco Life has filed a registration statement with the SEC under the Securities
Act of 1933 relating to the offering described in this prospectus. This
prospectus does not include all of the information set forth in the registration
statement. Certain portions have been omitted pursuant to the rules and
regulations of the SEC. The omitted information may, however, be obtained from
the SEC's principal office in Washington, D.C., upon payment of a prescribed
fee.


Further information may also be obtained from Pruco Life's office. The address
and telephone number are set forth on the cover of this prospectus.

FINANCIAL STATEMENTS


The consolidated financial Statements of Pruco Life and its subsidiaries
included herein should be distinguished from the financial statements of the
Account. They should be considered only as bearing upon the ability of Pruco
Life to meet its obligations under the contracts.



                                       24
<PAGE>



                             DIRECTORS AND OFFICERS

The directors and major officers of Pruco Life, listed with their principal
occupations during the past 5 years, are shown below.

                             DIRECTORS OF PRUCO LIFE

JAMES J. AVERY, JR., CHAIRMAN AND DIRECTOR -- President, Prudential Individual
Life Insurance since 1998; 1997 to 1998: Senior Vice President, Chief Actuary
and CFO, Prudential Individual Insurance Group; 1995 to 1997: President,
Prudential Select. Age 48.



IRA J. KLEINMAN, DIRECTOR -- Executive Vice President, Prudential International
Insurance Group since 1997; 1995 to 1997: Chief Marketing and Product
Development Officer, Prudential Individual Insurance Group. Age 53.

ESTHER H. MILNES, PRESIDENT AND DIRECTOR -- Vice President and Chief Actuary,
Prudential Individual Life Insurance since 1999; prior to 1999: Vice President
and Actuary, Prudential Individual Insurance Group. Age 49.


DAVID R. ODENATH, JR., DIRECTOR -- President, Prudential Investments since 1999;
prior to 1999: Senior Vice President and Director of Sales, Investment
Consulting Group, PaineWebber. Age 43.


I. EDWARD PRICE, VICE CHAIRMAN AND DIRECTOR -- Senior Vice President and
Actuary, Prudential Individual Life Insurance since 1998; 1995 to 1998: Senior
Vice President and Actuary, Prudential Individual Insurance Group. Age 57.

KIYOFUMI SAKAGUCHI, DIRECTOR -- President and CEO, Prudential International
Insurance Group since 1995. Age 57.

                         OFFICERS WHO ARE NOT DIRECTORS

C. EDWARD CHAPLIN, TREASURER -- Vice President and Treasurer, Prudential since
1995. Age 43.

JAMES C. DROZANOWSKI, SENIOR VICE PRESIDENT -- Vice President, Operations and
Systems, Prudential Individual Financial Services since 1998; 1996 to 1998: Vice
President and Operations Executive, Prudential Individual Insurance Group; 1995
to 1996: President, Credit Card Division, Chase Manhattan Bank. Age 57.

CLIFFORD E. KIRSCH, CHIEF LEGAL OFFICER AND SECRETARY -- Chief Counsel, Variable
Products, Prudential Law Department since 1995. Age 40.



HIROSHI NAKAJIMA, SENIOR VICE PRESIDENT -- President and CEO, Pruco Life
Insurance Company Taiwan Branch since 1997; prior to 1997: Senior Managing
Director, Prudential Life Insurance Co., Ltd. Age 56.



SHIRLEY H. SHAO, SENIOR VICE PRESIDENT AND CHIEF ACTUARY -- Vice President and
Associate Actuary, Prudential since 1996; prior to 1996: Vice President and
Assistant Actuary, Prudential Corporate Risk Management. Age 45.

DENNIS G. SULLIVAN, VICE PRESIDENT AND CHIEF ACCOUNTING OFFICER -- Vice
President and Deputy Controller, Prudential since 1998; 1997 to 1998: Vice
President and Controller, ContiFinancial Corporation; prior to 1997: Director,
Salomon Brothers. Age 44.

The business address of all directors and officers of Pruco Life is 213
Washington Street, Newark, New Jersey 07102-2992. Pruco Life directors and
officers are elected annually.


                                       25
<PAGE>


<TABLE>
<CAPTION>

                                                       FINANCIAL STATEMENTS OF
                                           PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT



STATEMENTS OF NET ASSETS
December 31, 1999
                                                                                  SUBACCOUNTS
                                             ------------------------------------------------------------------------------------
                                                                                                                      ZERO COUPON
                                                MONEY      DIVERSIFIED                     FLEXIBLE   CONSERVATIVE       BOND
                                               MARKET         BOND          EQUITY         MANAGED      BALANCED         2000
                                              PORTFOLIO     PORTFOLIO      PORTFOLIO      PORTFOLIO     PORTFOLIO      PORTFOLIO
                                             -----------    ----------    -----------    -----------   -----------    -----------
<S>                                          <C>            <C>           <C>            <C>           <C>            <C>
ASSETS
  Investment in The Prudential Series Fund,
    Inc. Portfolios, at net asset value
    [Note 3] ............................... $14,423,192    $7,146,050    $51,792,215    $68,331,569   $81,778,769    $ 2,472,794
  Receivable from (Payable to)
    Pruco Life Insurance Company
    [Note 2] ...............................     (31,539)          (84)        10,065         (9,944)      (33,396)           (63)
                                             -----------    ----------    -----------    -----------   -----------    -----------
  Net Assets ............................... $14,391,653    $7,145,966    $51,802,280    $68,321,625   $81,745,373    $ 2,472,731
                                             ===========    ==========    ===========    ===========   ===========    ===========
NET ASSETS, representing:
  Equity of contract owners [Note 4] ....... $14,391,653    $7,145,966    $51,802,280    $68,321,625   $81,745,373    $ 2,472,731
                                             -----------    ----------    -----------    -----------   -----------    -----------
                                             $14,391,653    $7,145,966    $51,802,280    $68,321,625   $81,745,373    $ 2,472,731
                                             ===========    ==========    ===========    ===========   ===========    ===========


                                     SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                 A1
<PAGE>

<TABLE>
<CAPTION>


                                                       SUBACCOUNTS (CONTINUED)
- --------------------------------------------------------------------------------------------------------------------------------
    HIGH                                                                                ZERO COUPON                     SMALL
    YIELD         STOCK        EQUITY         NATURAL                     GOVERNMENT       BOND       PRUDENTIAL   CAPITALIZATION
    BOND          INDEX        INCOME        RESOURCES      GLOBAL         INCOME          2005        JENNISON        STOCK
  PORTFOLIO     PORTFOLIO     PORTFOLIO      PORTFOLIO     PORTFOLIO      PORTFOLIO      PORTFOLIO     PORTFOLIO     PORTFOLIO
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------



<S>            <C>           <C>            <C>           <C>            <C>            <C>           <C>            <C>
$ 5,275,067    $21,897,549   $14,269,331    $ 2,379,402   $ 6,567,598    $ 3,110,704    $ 1,678,730   $16,503,478    $ 3,152,167


     (6,100)            65           365            (31)        3,732            103              0        29,664              0
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
$ 5,268,967    $21,897,614   $14,269,696    $ 2,379,371   $ 6,571,330    $ 3,110,807    $ 1,678,730   $16,533,142    $ 3,152,167
===========    ===========   ===========    ===========   ===========    ===========    ===========   ===========    ===========

$ 5,268,967    $21,897,614   $14,269,696    $ 2,379,371   $ 6,571,330    $ 3,110,807    $ 1,678,730   $16,533,142    $ 3,152,167
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
$ 5,268,967    $21,897,614   $14,269,696    $ 2,379,371   $ 6,571,330    $ 3,110,807    $ 1,678,730   $16,533,142    $ 3,152,167
===========    ===========   ===========    ===========   ===========    ===========    ===========   ===========    ===========


                                     SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                 A2

<PAGE>

<TABLE>
<CAPTION>


                                                     FINANCIAL STATEMENTS OF
                                         PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT


STATEMENTS OF OPERATIONS
For the years ended December 31, 1999, 1998 and 1997

                                                                                  SUBACCOUNTS
                                              -----------------------------------------------------------------------------------
                                                               MONEY                                    DIVERSIFIED
                                                               MARKET                                      BOND
                                                             PORTFOLIO                                   PORTFOLIO
                                              ---------------------------------------    ----------------------------------------
                                                 1999          1998           1997          1999           1998          1997
                                              ----------    ----------     ----------    -----------    ----------      ---------
<S>                                           <C>           <C>            <C>           <C>            <C>             <C>
INVESTMENT INCOME
  Dividend income ........................... $  684,599    $  765,485     $  812,540    $         0    $  531,318      $ 730,224
                                              ----------    ----------     ----------    -----------    ----------      ---------
EXPENSES
  Charges to contract owners for assuming
    mortality risk and expense risk and for
    administration [Notes 5A and 5B] ........    174,531       181,268        190,711         95,553       109,480        126,244
  Reimbursement for excess expenses
    [Note 5C] ...............................     (3,410)       (2,166)        (3,465)        (2,002)       (2,147)        (2,547)
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET EXPENSES ................................    171,121       179,102        187,246         93,551       107,333        123,697
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET INVESTMENT INCOME (LOSS) ................    513,478       586,383        625,294        (93,551)      423,985        606,527
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET REALIZED AND UNREALIZED GAIN
  (LOSS) ON INVESTMENTS
  Capital gains distributions received ......          0             0              0         21,557        32,315        116,326
  Realized gain (loss) on shares redeemed ...          0             0              0          9,296        45,770         92,708
  Net change in unrealized gain (loss) on
    investments .............................          0             0              0        (96,668)       (6,633)      (116,684)
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET GAIN (LOSS) ON INVESTMENTS ..............          0             0              0        (65,815)       71,452         92,350
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET INCREASE (DECREASE) IN
  NET ASSETS RESULTING FROM
  OPERATIONS ................................ $  513,478    $  586,383     $  625,294    $  (159,366)   $  495,437      $ 698,877
                                              ==========    ==========     ==========    ===========    ==========      =========


                                    SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                 A3

<PAGE>

<TABLE>
<CAPTION>


                                                     SUBACCOUNTS (CONTINUED)
- --------------------------------------------------------------------------------------------------------------------------------
                                                            FLEXIBLE                                  CONSERVATIVE
                 EQUITY                                      MANAGED                                    BALANCED
                PORTFOLIO                                   PORTFOLIO                                   PORTFOLIO
- ----------------------------------------    ----------------------------------------    ----------------------------------------
    1999          1998           1997          1999           1998           1997          1999           1998          1997
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
<S>            <C>           <C>            <C>           <C>            <C>            <C>           <C>            <C>

$   897,248    $ 1,024,182   $ 1,252,483    $     3,211   $ 2,358,856    $ 2,170,546    $ 3,399,588   $ 3,695,174    $ 4,020,882
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------



    667,033        703,699       685,445        874,973       909,393        907,245      1,048,730     1,093,841      1,096,279

    (44,086)       (49,226)      (42,912)      (164,402)     (166,085)      (165,166)      (151,025)     (151,572)      (144,445)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
    622,947        654,473       642,533        710,571       743,308        742,079        897,705       942,269        951,834
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
    274,301        369,709       609,950       (707,360)    1,615,548      1,428,467      2,501,883     2,752,905      3,069,048
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


  6,214,655      6,071,668     3,061,685        814,721     7,397,085     10,983,219        478,826     5,205,075      9,442,317
  2,881,028      2,177,325     3,103,596        647,589       962,703      2,316,946        844,811       894,531      1,726,707

 (3,707,570)    (4,180,231)    4,613,512      3,802,826    (3,534,674)    (3,350,945)       725,771       (45,061)    (4,126,123)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
  5,388,113      4,068,762    10,778,793      5,265,136     4,825,114      9,949,220      2,049,408     6,054,545      7,042,901
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


$ 5,662,414    $ 4,438,471   $11,388,743    $ 4,557,776   $ 6,440,662    $11,377,687    $ 4,551,291   $ 8,807,450    $10,111,949
===========    ===========   ===========    ===========   ===========    ===========    ===========   ===========    ===========


                                   SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                 A4

<PAGE>

<TABLE>
<CAPTION>

                                                     FINANCIAL STATEMENTS OF
                                         PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT


STATEMENTS OF OPERATIONS
For the years ended December 31, 1999, 1998 and 1997

                                                                                  SUBACCOUNTS
                                              -----------------------------------------------------------------------------------
                                                       ZERO COUPON BOND 2000                         HIGH YIELD BOND
                                                             PORTFOLIO                                  PORTFOLIO
                                                1999           1998          1997           1999          1998           1997
                                              ---------------------------------------    ----------------------------------------
<S>                                           <C>           <C>            <C>           <C>            <C>             <C>
INVESTMENT INCOME
  Dividend income                             $        0    $  126,278     $  153,810    $    16,600    $  614,576      $ 620,079
                                              ----------    ----------     ----------    -----------    ----------      ---------
EXPENSES
 Charges to contract owners for assuming
   mortality risk and expense risk and for
   administration [Notes 5A and 5B] .........     30,724        32,152         36,334         71,725        80,740         81,445
 Reimbursement for excess expenses
   [Note 5C] ................................     (4,578)       (5,684)        (7,849)             0             0              0
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET EXPENSES ................................     26,146        26,468         28,485         71,725        80,740         81,445
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET INVESTMENT INCOME (LOSS) ................    (26,146)       99,810        125,325        (55,125)      533,836        538,634
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET REALIZED AND UNREALIZED GAIN
  (LOSS) ON INVESTMENTS
    Capital gains distributions received ....      4,656        33,785        122,909              0             0              0
    Realized gain (loss) on shares
    redeemed ................................      7,772        20,011         31,433       (167,709)      (18,283)          (634)
    Net change in unrealized gain (loss)
      on investments ........................     40,641         8,455       (101,802)       418,627      (733,132)       221,974
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET GAIN (LOSS) ON INVESTMENTS ..............     53,069        62,251         52,540        250,918      (751,415)       221,340
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET INCREASE (DECREASE) IN NET
  ASSETS RESULTING FROM
  OPERATIONS ................................ $   26,923    $  162,061     $  177,865    $   195,793    $ (217,579)     $ 759,974
                                              ==========    ==========     ==========    ===========    ==========      =========


                                     SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                 A5
<PAGE>

<TABLE>
<CAPTION>


                                                       SUBACCOUNTS (CONTINUED)
- --------------------------------------------------------------------------------------------------------------------------------
               STOCK INDEX                                EQUITY INCOME                            NATURAL RESOURCES
                PORTFOLIO                                   PORTFOLIO                                  PORTFOLIO
   1999           1998          1997           1999           1998          1997           1999          1998           1997
- ----------------------------------------    ----------------------------------------      --------------------------------------
<S>            <C>           <C>            <C>           <C>            <C>              <C>          <C>            <C>

$   211,644    $   180,944   $   167,019    $   367,446    $  489,322    $   421,273      $  15,114    $   24,100     $   22,099
- -----------    -----------   -----------    -----------    ----------    -----------      ---------    ----------     ----------



    244,525        181,109       136,243        201,188       235,069        200,384         27,959        36,097         54,219

          0              0             0              0             0              0              0             0              0
- -----------    -----------   -----------    -----------    ----------    -----------      ---------    ----------     ----------
    244,525        181,109       136,243        201,188       235,069        200,384         27,959        36,097         54,219
- -----------    -----------   -----------    -----------    ----------    -----------      ---------    ----------     ----------
    (32,881)          (165)       30,776        166,258       254,253        220,889        (12,845)      (11,997)       (32,120)
- -----------    -----------   -----------    -----------    ----------    -----------      ---------    ----------     ----------


    260,474        258,678       354,981      1,694,069     1,059,876      1,682,299              0       169,689        456,104

  1,286,593        864,659       565,902        820,702       705,153        499,434       (162,681)     (318,262)        75,644

  1,961,582      2,371,413     1,893,795       (979,054)   (2,718,706)     2,374,752        982,768      (408,664)    (1,044,069)
- -----------    -----------   -----------    -----------    ----------    -----------      ---------    ----------     ----------
  3,508,649      3,494,750     2,814,678      1,535,717      (953,677)     4,556,485        820,087      (557,237)      (512,321)
- -----------    -----------   -----------    -----------    ----------    -----------      ---------    ----------     ----------


$ 3,475,768    $ 3,494,585   $ 2,845,454    $ 1,701,975    $ (699,424)   $ 4,777,374      $ 807,242    $ (569,234)    $ (544,441)
===========    ===========   ===========    ===========    ==========    ===========      =========    ==========     ==========


                                     SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19


</TABLE>

                                                                 A6
<PAGE>

<TABLE>
<CAPTION>


                                                     FINANCIAL STATEMENTS OF
                                     PRUCO LIFE SINGLE PREMIUM VARIABLE APPRECIABLE ACCOUNT


STATEMENTS OF OPERATIONS
For the years ended December 31, 1999, 1998 and 1997

                                                                                  SUBACCOUNTS
                                              -----------------------------------------------------------------------------------
                                                              GLOBAL                                GOVERNMENT INCOME
                                                             PORTFOLIO                                  PORTFOLIO
                                              ---------------------------------------    ----------------------------------------
<S>                                           <C>           <C>            <C>           <C>            <C>             <C>
                                                1999           1998          1997           1999          1998           1997
                                              ----------    ----------     ----------    -----------    ----------      ---------
INVESTMENT INCOME
  Dividend income ........................... $   21,083    $   55,840     $   57,845    $         0    $  206,665      $ 206,624
                                              ----------    ----------     ----------    -----------    ----------      ---------
EXPENSES
 Charges to contract owners for assuming
   mortality risk and expense risk and for
   administration [Note 5A and 5B] ..........     60,748        52,526         59,939         43,195        44,271         39,739
 Reimbursement for excess expenses
   [Note 5C] ................................          0             0              0              0             0              0
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET EXPENSES ................................     60,748        52,526         59,939         43,195        44,271         39,739
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET INVESTMENT INCOME (LOSS) ................    (39,665)        3,314         (2,094)       (43,195)      162,394        166,885
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET REALIZED AND UNREALIZED GAIN
  (LOSS) ON INVESTMENTS
    Capital gains distributions received ....     36,969       179,296        220,780              0             0              0
    Realized gain on shares redeemed ........    176,492       292,867        217,305         16,035        27,863         10,360
    Net change in unrealized gain (loss) on
      investments ...........................  1,859,932       490,506       (195,352)      (113,390)       75,637         79,214
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET GAIN (LOSS) ON INVESTMENTS ..............  2,073,393       962,669        242,733        (97,355)      103,500         89,574
                                              ----------    ----------     ----------    -----------    ----------      ---------
NET INCREASE (DECREASE) IN
  NET ASSETS RESULTING FROM
  OPERATIONS ................................ $2,033,728    $  965,983     $  240,639    $  (140,550)   $  265,894      $ 256,459
                                              ==========    ==========     ==========    ===========    ==========      =========

                                   SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19


</TABLE>

                                                                 A7
<PAGE>

<TABLE>
<CAPTION>

                                                     SUBACCOUNTS (CONTINUED)
- --------------------------------------------------------------------------------------------------------------------------------
          ZERO COUPON BOND 2005                        PRUDENTIAL JENNISON                    SMALL CAPITALIZATION STOCK
                PORTFOLIO                                   PORTFOLIO                                  PORTFOLIO
- ----------------------------------------    ----------------------------------------    ----------------------------------------
<S>            <C>           <C>            <C>           <C>            <C>            <C>           <C>            <C>
   1999           1998          1997           1999           1998          1997           1999          1998           1997
- -----------     ----------    ----------    -----------   -----------    -----------    -----------    ----------     ----------

$         0     $   67,610    $   82,336    $    19,128   $    10,066    $     5,707    $         0    $   20,302     $   13,030
- -----------     ----------    ----------    -----------   -----------    -----------    -----------    ----------     ----------



     20,471         16,747        17,408        134,587        58,214         30,596         41,264        40,152         23,358

     (3,028)        (2,960)       (4,673)             0             0              0              0             0              0
- -----------     ----------    ----------    -----------   -----------    -----------    -----------    ----------     ----------
     17,443         13,787        12,735        134,587        58,214         30,596         41,264        40,152         23,358
- -----------     ----------    ----------    -----------   -----------    -----------    -----------    ----------     ----------
    (17,443)        53,823        69,601       (115,459)      (48,148)       (24,889)       (41,264)      (19,850)       (10,328)
- -----------     ----------    ----------    -----------   -----------    -----------    -----------    ----------     ----------


          0          1,572        29,827        640,304        98,997        190,081         58,334       257,177        199,000
      7,189         13,858        32,242        635,686       199,887         79,675        (38,447)        7,315         68,599

   (110,077)        74,315        18,525      2,862,269     1,286,712        328,629        377,252      (227,599)        97,148
- -----------     ----------    ----------    -----------   -----------    -----------    -----------    ----------     ----------
   (102,888)        89,745        80,594      4,138,259     1,585,596        598,385        397,139        36,893        364,747
- -----------     ----------    ----------    -----------   -----------    -----------    -----------    ----------     ----------


$  (120,331)    $  143,568    $  150,195    $ 4,022,800   $ 1,537,448    $   573,496    $   355,875    $   17,043     $  354,419
===========     ==========    ==========    ===========   ===========    ===========    ===========    ==========     ==========


                                     SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19


</TABLE>

                                                                 A8
<PAGE>

<TABLE>
<CAPTION>


                                                     FINANCIAL STATEMENTS OF
                                         PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT



STATEMENTS OF CHANGES IN NET ASSETS
For the years ended December 31, 1999,  1998 and 1997


                                                                                  SUBACCOUNTS
                                             ------------------------------------------------------------------------------------
                                                               MONEY                                    DIVERSIFIED
                                                              MARKET                                       BOND
                                                             PORTFOLIO                                   PORTFOLIO
                                             ----------------------------------------    ----------------------------------------
                                                 1999          1998           1997          1999           1998          1997
                                             -----------   -----------    -----------    -----------   -----------    -----------
<S>                                          <C>           <C>            <C>            <C>           <C>            <C>
OPERATIONS
  Net investment income (loss) ............. $   513,478   $   586,383    $   625,294    $   (93,551)  $   423,985    $   606,527
  Capital gains distributions received .....           0             0              0         21,557        32,315        116,326
  Realized gain (loss) on shares
  redeemed .................................           0             0              0          9,296        45,770         92,708
  Net change in unrealized gain (loss) on
    investments ............................           0             0              0        (96,668)       (6,633)      (116,684)
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RESULTING FROM
  OPERATIONS ...............................     513,478       586,383        625,294       (159,366)      495,437        698,877
                                             -----------   -----------    -----------    -----------   -----------    -----------
PREMIUM PAYMENTS
  AND OTHER OPERATING TRANSFERS
  Contract Owner Net Payments ..............    (335,515)      357,060          2,455       (293,798)      (15,424)        28,055
  Policy Loans .............................    (326,366)     (510,262)      (504,190)      (191,948)     (246,911)      (342,659)
  Policy Loan Repayments and Interest ......     478,632       453,037        832,657        385,327       397,247        656,320
  Surrenders, Withdrawals and Death
    Benefits ...............................  (1,394,654)   (2,569,176)    (3,173,140)      (770,244)   (1,156,635)    (2,236,152)
  Net Transfers From (To) Other Subaccounts
    or Fixed Rate Option ...................   2,474,569       667,550      1,219,681       (210,906)      272,626       (778,186)
  Deferred Sales and Other Charges .........    (100,291)     (105,157)      (107,156)       (53,414)      (61,109)       (70,997)
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RESULTING FROM
  PREMIUM PAYMENTS AND OTHER
  OPERATING TRANSFERS ......................     796,375    (1,706,948)    (1,729,693)    (1,134,983)     (810,206)    (2,743,619)
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RETAINED IN THE
  ACCOUNT [Note 7] .........................           0      (137,157)       106,939              0      (154,788)       103,316
                                             -----------   -----------    -----------    -----------   -----------    -----------
TOTAL INCREASE (DECREASE) IN
  NET ASSETS ...............................   1,309,853    (1,257,722)      (997,460)    (1,294,349)     (469,557)    (1,941,426)

NET ASSETS
  Beginning of year ........................  13,081,800    14,339,522     15,336,982      8,440,315     8,909,872     10,851,298
                                             -----------   -----------    -----------    -----------   -----------    -----------
  End of year .............................. $14,391,653   $13,081,800    $14,339,522    $ 7,145,966   $ 8,440,315    $ 8,909,872
                                             ===========   ===========    ===========    ===========   ===========    ===========


                                    SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                 A9
<PAGE>

<TABLE>
<CAPTION>


                                                     SUBACCOUNTS (CONTINUED)
- --------------------------------------------------------------------------------------------------------------------------------
                                                            FLEXIBLE                                  CONSERVATIVE
                 EQUITY                                      MANAGED                                    BALANCED
                PORTFOLIO                                   PORTFOLIO                                   PORTFOLIO
- ----------------------------------------    ----------------------------------------    ----------------------------------------
    1999          1998           1997          1999           1998           1997          1999           1998          1997
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
<S>            <C>           <C>            <C>           <C>            <C>            <C>           <C>            <C>

$   274,301    $   369,709   $   609,950    $  (707,360)  $ 1,615,548    $ 1,428,467    $ 2,501,883   $ 2,752,905    $ 3,069,048
  6,214,655      6,071,668     3,061,685        814,721     7,397,085     10,983,219        478,826     5,205,075      9,442,317

  2,881,028      2,177,325     3,103,596        647,589       962,703      2,316,946        844,811       894,531      1,726,707

 (3,707,570)    (4,180,231)    4,613,512      3,802,826    (3,534,674)    (3,350,945)       725,771       (45,061)    (4,126,123)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


  5,662,414      4,438,471    11,388,743      4,557,776     6,440,662     11,377,687      4,551,291     8,807,450     10,111,949
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


   (912,284)       271,858       202,208     (1,558,815)       67,707        288,737     (2,113,801)       75,425        219,959
 (1,350,677)    (1,507,262)   (1,731,662)    (1,718,370)   (2,021,771)    (2,609,808)    (1,649,015)   (2,037,303)    (2,403,648)
  1,628,905      1,102,094     2,080,991      3,261,973     2,440,602      2,179,726      2,759,184     2,607,154      2,631,712

 (4,476,768)    (2,700,048)   (6,467,482)    (6,365,074)   (6,108,904)    (6,737,097)    (7,276,891)   (6,533,648)    (8,978,479)

 (3,793,105)    (1,027,848)   (1,503,850)    (2,067,566)     (452,448)    (2,119,657)    (2,122,825)   (1,234,671)    (1,016,900)
   (369,861)      (384,512)     (378,151)      (490,668)     (504,225)      (505,640)      (572,649)     (599,084)      (596,993)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------



 (9,273,790)    (4,245,718)   (7,797,946)    (8,938,520)   (6,579,039)    (9,503,739)   (10,975,997)   (7,722,127)   (10,144,349)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


          0        (30,743)      (95,520)             0       (36,959)      (476,182)             0      (211,759)       (26,817)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------

 (3,611,376)       162,010     3,495,277     (4,380,744)     (175,336)     1,397,766     (6,424,706)      873,564        (59,217)

 55,413,656     55,251,646    51,756,369     72,702,369    72,877,705     71,479,939     88,170,079    87,296,515     87,355,732
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
$51,802,280    $55,413,656   $55,251,646    $68,321,625   $72,702,369    $72,877,705    $81,745,373   $88,170,079    $87,296,515
===========    ===========   ===========    ===========   ===========    ===========    ===========   ===========    ===========


                                   SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19


</TABLE>

                                                                A10
<PAGE>

<TABLE>
<CAPTION>

                                                     FINANCIAL STATEMENTS OF
                                         PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT



STATEMENTS OF CHANGES IN NET ASSETS
For the years ended December 31, 1999,  1998 and 1997


                                                                                  SUBACCOUNTS
                                             ------------------------------------------------------------------------------------
                                                            ZERO COUPON                                    HIGH
                                                             BOND 2000                                  YIELD BOND
                                                             PORTFOLIO                                   PORTFOLIO
                                             ----------------------------------------    ----------------------------------------
                                                 1999          1998           1997          1999           1998          1997
                                             -----------   -----------    -----------    -----------   -----------    -----------
<S>                                          <C>           <C>            <C>            <C>           <C>            <C>
OPERATIONS
  Net investment income (loss) ............. $   (26,146)  $    99,810    $   125,325    $   (55,125)  $   533,836    $   538,634
  Capital gains distributions received .....       4,656        33,785        122,909              0             0              0
  Realized gain (loss) on shares
  redeemed .................................       7,772        20,011         31,433       (167,709)      (18,283)          (634)
  Net change in unrealized gain (loss) on
    investments ............................      40,641         8,455       (101,802)       418,627      (733,132)       221,974
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RESULTING FROM
  OPERATIONS ...............................      26,923       162,061        177,865        195,793      (217,579)       759,974
                                             -----------   -----------    -----------    -----------   -----------    -----------
PREMIUM PAYMENTS
  AND OTHER OPERATING TRANSFERS
  Contract Owner Net Payments ..............     (18,889)           70              0        (76,719)      210,930         87,727
  Policy Loans .............................     (53,198)      (54,838)       (32,633)      (162,901)     (231,180)      (390,814)
  Policy Loan Repayments and Interest ......      33,652        25,690         37,545        244,823       182,691        330,877
  Surrenders, Withdrawals and Death
    Benefits ...............................     (56,359)     (279,446)      (192,247)      (418,680)     (272,377)      (571,349)
  Net Transfers From (To) Other Subaccounts
    or Fixed Rate Option ...................      31,575         1,081       (295,618)      (608,523)     (107,059)       233,793
  Deferred Sales and Other Charges .........     (17,514)      (17,684)       (19,943)       (50,615)      (54,463)       (53,311)
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RESULTING FROM
  PREMIUM PAYMENTS AND OTHER
  OPERATING TRANSFERS ......................     (80,733)     (325,127)      (502,896)    (1,072,615)     (271,458)      (363,077)
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RETAINED IN THE
  ACCOUNT [Note 7] .........................           0        (1,670)      (103,168)             0         1,358          7,704
                                             -----------   -----------    -----------    -----------   -----------    -----------
TOTAL INCREASE (DECREASE) IN
  NET ASSETS ...............................     (53,810)     (164,736)      (428,199)      (876,822)     (487,679)       404,601

NET ASSETS
  Beginning of year ........................   2,526,541     2,691,277      3,119,476      6,145,789     6,633,468      6,228,867
                                             -----------   -----------    -----------    -----------   -----------    -----------
  End of year .............................. $ 2,472,731   $ 2,526,541    $ 2,691,277    $ 5,268,967   $ 6,145,789    $ 6,633,468
                                             ===========   ===========    ===========    ===========   ===========    ===========


                                     SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                A11
<PAGE>

<TABLE>
<CAPTION>


                                                     SUBACCOUNTS (CONTINUED)
- --------------------------------------------------------------------------------------------------------------------------------
                                                                                                         NATURAL
               STOCK INDEX                                EQUITY INCOME                                 RESOURCES
                PORTFOLIO                                   PORTFOLIO                                   PORTFOLIO
- ----------------------------------------    ----------------------------------------    ----------------------------------------
    1999          1998           1997          1999           1998           1997          1999           1998          1997
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
<S>            <C>           <C>            <C>           <C>            <C>            <C>           <C>            <C>

$   (32,881)   $      (165)  $    30,776    $   166,258   $   254,253    $   220,889    $   (12,845)  $   (11,997)   $   (32,120)
    260,474        258,678       354,981      1,694,069     1,059,876      1,682,299              0       169,689        456,104

  1,286,593        864,659       565,902        820,702       705,153        499,434       (162,681)     (318,262)        75,644

  1,961,582      2,371,413     1,893,795       (979,054)   (2,718,706)     2,374,752        982,768      (408,664)    (1,044,069)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


  3,475,768      3,494,585     2,845,454      1,701,975      (699,424)     4,777,374        807,242      (569,234)      (544,441)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


   (278,926)       206,175       150,392       (191,041)          951        101,609        (27,836)       (3,119)        30,997
   (640,921)      (538,580)     (493,833)      (529,577)     (581,170)      (539,621)      (128,607)      (68,853)      (132,941)
    526,089        267,666       225,133        524,227       352,296        273,356         45,397       103,273         78,125

 (1,774,142)      (875,404)     (815,101)    (2,114,810)     (720,743)      (956,562)       (87,714)     (268,172)      (284,770)

  3,530,294      2,027,486     2,343,353     (1,782,308)     (113,110)     1,428,935       (315,599)     (589,122)        10,453
   (135,986)      (100,388)      (75,962)      (118,308)     (133,218)      (113,023)       (16,605)      (19,971)       (31,067)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------



  1,226,408        986,955     1,333,982     (4,211,817)   (1,194,994)       194,694       (530,964)     (845,964)      (329,203)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


          0        (53,472)      (16,739)             0       (13,031)       (14,032)             0         5,119          3,421
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------

  4,702,176      4,428,068     4,162,697     (2,509,842)   (1,907,449)     4,958,036        276,278    (1,410,079)      (870,223)

 17,195,438     12,767,370     8,604,673     16,779,538    18,686,987     13,728,951      2,103,093     3,513,172      4,383,395
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
$21,897,614    $17,195,438   $12,767,370    $14,269,696   $16,779,538    $18,686,987    $ 2,379,371   $ 2,103,093    $ 3,513,172
===========    ===========   ===========    ===========   ===========    ===========    ===========   ===========    ===========


                                   SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                A12
<PAGE>

<TABLE>
<CAPTION>

                                                     FINANCIAL STATEMENTS OF
                                         PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT



STATEMENTS OF CHANGES IN NET ASSETS
For the years ended December 31, 1999,  1998 and 1997


                                                                                  SUBACCOUNTS
                                             ------------------------------------------------------------------------------------
                                                                                                        GOVERNMENT
                                                              GLOBAL                                      INCOME
                                                             PORTFOLIO                                   PORTFOLIO
                                             ----------------------------------------    ----------------------------------------
                                                 1999          1998           1997          1999           1998          1997
                                             -----------   -----------    -----------    -----------   -----------    -----------
<S>                                          <C>           <C>            <C>            <C>           <C>            <C>
OPERATIONS
  Net investment income (loss) ............. $   (39,665)  $     3,314    $    (2,094)   $   (43,195)  $   162,394    $   166,885
  Capital gains distributions received .....      36,969       179,296        220,780              0             0              0
  Realized gain (loss) on shares
    redeemed ...............................     176,492       292,867        217,305         16,035        27,863         10,360
  Net change in unrealized gain (loss) on
    investments ............................   1,859,932       490,506       (195,352)      (113,390)       75,637         79,214
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RESULTING FROM
  OPERATIONS ...............................   2,033,728       965,983        240,639       (140,550)      265,894        256,459
                                             -----------   -----------    -----------    -----------   -----------    -----------
PREMIUM PAYMENTS
  AND OTHER OPERATING TRANSFERS
  Contract Owner Net Payments ..............      47,887        (6,219)        12,437        (65,389)         (282)         1,959
  Policy Loans .............................    (134,169)     (103,658)      (244,308)      (116,914)     (143,783)      (267,116)
  Policy Loan Repayments and Interest ......     185,359        79,871        235,021         61,648       187,537        121,127
  Surrenders, Withdrawals and Death
    Benefits ...............................    (371,003)     (235,225)      (460,434)      (409,583)     (268,690)      (100,728)
  Net Transfers From (To) other Subaccounts
    or Fixed Rate Option ...................     547,043      (925,202)       319,629         34,994       444,167          6,179
  Deferred Sales and Other Charges .........     (33,639)      (29,649)       (34,356)       (25,765)      (25,716)       (23,101)
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RESULTING FROM
  PREMIUM PAYMENTS AND OTHER
  OPERATING TRANSFERS ......................     241,478    (1,220,082)      (172,011)      (521,009)      193,233       (261,680)
                                             -----------   -----------    -----------    -----------   -----------    -----------
NET INCREASE (DECREASE) IN
  NET ASSETS RETAINED IN THE
  ACCOUNT [Note 7] .........................           0       (60,770)        (1,051)             0        (4,569)        (3,582)
                                             -----------   -----------    -----------    -----------   -----------    -----------
TOTAL INCREASE (DECREASE) IN
  NET ASSETS ...............................   2,275,206      (314,869)        67,577       (661,559)      454,558         (8,803)

NET ASSETS
Beginning of year ..........................   4,296,124     4,610,993      4,543,416      3,772,366     3,317,808      3,326,611
                                             -----------   -----------    -----------    -----------   -----------    -----------
End of year ................................ $ 6,571,330   $ 4,296,124    $ 4,610,993    $ 3,110,807   $ 3,772,366    $ 3,317,808
                                             ===========   ===========    ===========    ===========   ===========    ===========


                                     SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                A13
<PAGE>

<TABLE>
<CAPTION>


                                                     SUBACCOUNTS (CONTINUED)
- --------------------------------------------------------------------------------------------------------------------------------
               ZERO COUPON                                 PRUDENTIAL                             SMALL CAPITALIZATION
                BOND 2005                                   JENNISON                                      STOCK
                PORTFOLIO                                   PORTFOLIO                                   PORTFOLIO
- ----------------------------------------    ----------------------------------------    ----------------------------------------
    1999          1998           1997          1999           1998           1997          1999           1998          1997
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
<S>            <C>           <C>            <C>           <C>            <C>            <C>           <C>            <C>

$   (17,443)   $    53,823   $    69,601    $  (115,459)  $   (48,148)   $   (24,889)   $   (41,264)  $   (19,850)   $   (10,328)
          0          1,572        29,827        640,304        98,997        190,081         58,334       257,177        199,000

      7,189         13,858        32,242        635,686       199,887         79,675        (38,447)        7,315         68,599

   (110,077)        74,315        18,525      2,862,269     1,286,712        328,629        377,252      (227,599)        97,148
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


   (120,331)       143,568       150,195      4,022,800     1,537,448        573,496        355,875        17,043        354,419
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


      1,360         20,226             0         91,629       276,061         48,980        (27,933)       66,678         47,025
    (20,074)       (19,041)      (20,480)      (154,052)     (111,328)      (122,317)       (26,473)      (36,942)       (30,825)
     17,371         15,402        16,234        153,444        51,582         18,884         73,068        21,502         11,340

   (225,786)       (31,559)      (37,869)      (483,140)      (62,418)      (129,973)      (364,003)      (74,173)       (87,528)

    647,105         26,097      (367,259)     6,135,122     1,814,286      1,487,125     (1,187,398)    1,411,270      1,387,801
    (11,470)        (9,389)       (9,721)       (71,984)      (32,260)       (16,444)       (21,297)      (21,075)       (12,239)
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------



    408,506          1,736      (419,095)     5,671,019     1,935,923      1,286,255     (1,554,036)    1,367,260      1,315,574
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------


          0            460      (378,102)             0        (3,857)        18,394              0       (47,114)        26,783
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------

    288,175        145,764      (647,002)     9,693,819     3,469,514      1,878,145     (1,198,161)    1,337,189      1,696,776

  1,390,555      1,244,791     1,891,793      6,839,323     3,369,809      1,491,664      4,350,328     3,013,139      1,316,363
- -----------    -----------   -----------    -----------   -----------    -----------    -----------   -----------    -----------
$ 1,678,730    $ 1,390,555   $ 1,244,791    $16,533,142   $ 6,839,323    $ 3,369,809    $ 3,152,167   $ 4,350,328    $ 3,013,139
===========    ===========   ===========    ===========   ===========    ===========    ===========   ===========    ===========


                                     SEE NOTES TO FINANCIAL STATEMENTS ON PAGES A15 THROUGH A19

</TABLE>

                                                                A14
<PAGE>



                        NOTES TO FINANCIAL STATEMENTS OF
                 PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT
                                December 31, 1999



NOTE 1:   GENERAL

          Pruco Life Single Premium Variable Life Account (the "Account") was
          established on April 15, 1985 under Arizona law as a separate
          investment account of Pruco Life Insurance Company("Pruco Life") Which
          is a wholly-owned subsidiary of The Prudential Insurance Company of
          America("Prudential"). The assets of the Account are segregated from
          Pruco Life's other assets. Proceeds from sales of the Pruco Life
          Discovery Life Plus Product are invested in the Account as directed by
          the contract owners.

          The Account is registered under the Investment Company Act of 1940, as
          amended, as a unit investment trust. There are fifteen subaccounts
          within the Account, each of which invests only a in a corresponding
          portfolio of The Prudential Series Fund, Inc. (the "Series Fund"). The
          Series Fund is a diversified open-end management investment company,
          and in managed by Prudential

NOTE 2:  SIGNIFICANT ACCOUNTING POLICIES

          The accompanying financial statements are prepared in conformity with
          accounting principles generally accepted in the United States
          ("GAAP"). The preparation of the financial statements in conformity
          with GAAP requires management to make estimates and assumptions that
          affect the reported amounts and disclosures. Actual results could
          differ from those estimates.

          Investments--The investments in shares of the Series Fund are stated
          at the net asset value of the respective portfolio.

          Security Transactions--Realized gains and losses on security
          transactions are reported on an average cost basis. Purchase and sale
          transactions are recorded as of the trade date of the security being
          purchased or sold.

          Distributions Received--Dividend and capital gain distributions
          received are reinvested in additional shares of the Series Fund and
          are recorded on the ex-dividend date.

          Receivable from (Payable to) Pruco Life Insurance Company--At times,
          Pruco Life may owe an amount to or expect to receive an amount from
          the Account primarily related to processing contract owner payments,
          surrenders, withdrawals and death benefits. This amount reflected in
          the Account's Statements of Net Assets as either a receivable from or
          payable to Pruco Life. The receivable and or payable does not have an
          effect on the Contract owner's account or the related unit value.


                                      A15
<PAGE>


NOTE 3:  INVESTMENT INFORMATION FOR THE PRUDENTIAL SERIES FUND, INC. PORTFOLIOS

          The net asset value per share for each portfolio of the Series Fund,
          the number of shares (rounded) of each portfolio held by the
          subaccounts and the aggregate cost of investments in such shares at
          December 31, 1999 were as follows:

<TABLE>
<CAPTION>

                                                                             PORTFOLIOS
                                               ---------------------------------------------------------------------
                                                   MONEY      DIVERSIFIED                    FLEXIBLE    CONSERVATIVE
                                                  MARKET         BOND          EQUITY         MANAGED      BALANCED
                                               -----------    -----------   -----------    -----------   -----------
          <S>                                  <C>            <C>           <C>            <C>           <C>
          Number of shares (rounded):            1,442,319        652,607     1,792,118      3,873,671     5,324,139
          Net asset value per share:           $     10.00    $     10.95   $     28.90    $     17.64   $     15.36
          Cost:                                $14,423,192    $ 7,099,942   $41,755,126    $61,742,155   $75,452,827



                                                                       PORTFOLIOS (CONTINUED)
                                               ---------------------------------------------------------------------
                                                ZERO COUPON   HIGH YIELD        STOCK         EQUITY        NATURAL
                                                 BOND 2000       BOND           INDEX         INCOME       RESOURCES
                                               -----------    -----------   -----------    -----------   -----------
          <S>                                  <C>            <C>           <C>            <C>           <C>
          Number of shares (rounded):              190,361        701,472       492,633        731,011       136,905
          Net asset value per share:           $     12.99    $      7.52   $     44.45    $     19.52   $     17.38
          Cost:                                $ 2,325,948    $ 5,536,266   $13,133,223    $13,022,728   $ 2,349,466



                                                                       PORTFOLIOS (CONTINUED)
                                               ---------------------------------------------------------------------
                                                                                                             SMALL
                                                              GOVERNMENT     ZERO COUPON    PRUDENTIAL  CAPITALIZATION
                                                  GLOBAL        INCOME        BOND 2005      JENNISON        STOCK
                                               -----------    -----------   -----------    -----------   -----------
          <S>                                  <C>            <C>           <C>            <C>           <C>
          Number of shares (rounded):              211,995        269,325       132,392        509,524       193,979
          Net asset value per share:           $     30.98    $     11.55   $     12.68    $     32.39   $     16.25
          Cost:                                $ 3,960,686    $ 3,069,563   $ 1,680,503    $11,859,718   $ 2,830,513

NOTE 4:  CONTRACT OWNER UNIT INFORMATION
            Outstanding  contract owner units  (rounded),  unit values and total
value of contract owner equity at December 31, 1999 were as follows:


                                                                              SUBACCOUNTS
                                               ---------------------------------------------------------------------
                                                 MONEY        DIVERSIFIED                    FLEXIBLE    CONSERVATIVE
                                                 MARKET          BOND         EQUITY         MANAGED       BALANCED
                                                PORTFOLIO      PORTFOLIO     PORTFOLIO      PORTFOLIO     PORTFOLIO
                                               -----------    -----------   -----------    -----------   -----------
          <S>                                  <C>            <C>           <C>            <C>           <C>
          Contract Owner Units
            Outstanding (rounded):               7,657,212      2,823,756     8,342,988     16,475,508    23,685,043
          Unit Value                           $   1.87949    $   2.53066   $   6.20908    $   4.14686   $   3.45135
          TOTAL CONTRACT OWNER EQUITY          $14,391,653    $ 7,145,966   $51,802,280    $68,321,625   $81,745,373




                                                                        SUBACCOUNTS (CONTINUED)
                                               ---------------------------------------------------------------------
                                               ZERO COUPON     HIGH YIELD      STOCK         EQUITY        NATURAL
                                                BOND 2000        BOND          INDEX         INCOME        RESOURCES
                                                PORTFOLIO      PORTFOLIO     PORTFOLIO      PORTFOLIO     PORTFOLIO
                                               -----------    -----------   -----------    -----------   -----------
          <S>                                  <C>            <C>           <C>            <C>           <C>
          Contract Owner Units
            Outstanding (rounded):                 852,922      2,304,673     3,820,480      3,272,243       816,612
          Unit Value                           $   2.89913    $   2.28621   $   5.73164    $   4.36083   $   2.91371
          TOTAL CONTRACT OWNER EQUITY          $ 2,472,731    $ 5,268,967   $21,897,614    $14,269,696   $ 2,379,371




                                                                        SUBACCOUNTS (CONTINUED)
                                               ---------------------------------------------------------------------
                                                                                                            SMALL
                                                               GOVERNMENT   ZERO COUPON     PRUDENTIAL  CAPITALIZATION
                                                 GLOBAL         INCOME       BOND 2005       JENNISON       STOCK
                                                PORTFOLIO      PORTFOLIO     PORTFOLIO      PORTFOLIO     PORTFOLIO
                                               -----------    -----------   -----------    -----------   -----------
          <S>                                  <C>            <C>           <C>            <C>           <C>
          Contract Owner Units
            Outstanding (rounded):               2,633,198      1,604,477       722,274      4,738,987     1,661,694
          Unit Value                           $   2.49557    $   1.93883   $   2.32423    $   3.48875   $  1.89696
          TOTAL CONTRACT OWNER EQUITY          $ 6,571,330    $ 3,110,807   $ 1,678,730    $16,533,142   $ 3,152,167

</TABLE>


                                      A16
<PAGE>


NOTE 5:   CHARGES AND EXPENSES

          A.   Mortality Risk and Expense Risk Charges

               The mortality risk and expense risk charges, at an effective
               annual rate of 0.90% are applied daily against the net assets
               representing equity of contract owners held in each subaccount.
               Mortality risk is that contract owners may not live as long as
               estimated and expense risk is that the cost of issuing and
               administering the policies may exceed the related charges by
               Pruco Life.

          B.   Administration Charges

               The administration charges at an effective annual rate of 0.35%
               are applied daily against the net assets representing equity of
               contract owners held in each subaccount. Administration charges
               include costs associated with issuing the contract, establishing
               and maintaining records, and providing reports to contract
               owners.

          C.   Expense Reimbursement

               The Account is reimbursed by Pruco Life for expenses in excess of
               0.40% of the average daily net assets incurred by the Money
               Market, Diversified Bond, Equity, Flexible Managed, Conservative
               Balanced and Zero Coupon Bond 2000 Portfolios of the Series Fund.
               In addition, the Account is reimbursed by Pruco Life, on a
               non-guaranteed basis, for expenses incurred by the Series Fund in
               excess of the effective rate of 0.40% of the average daily net
               assets of the Zero Coupon Bond 2005 Portfolio.

          D.   Deferred Sales Charge

               A deferred sales charge is imposed upon surrenders of variable
               life insurance contracts to compensate Pruco Life for sales and
               other marketing expenses. The amount of any sales charge will
               depend on the number of years that have elapsed since the
               contract was issued. No sales charge will be imposed after the
               sixth year of the contract. No sales charge will be imposed on
               death benefits.

          E.   Cost of Insurance and Other Related Charges

               Contract owner contributions are subject to certain deductions
               prior to being invested in the Account. The deductions are for
               (1) transaction costs which are deducted from each premium
               payment to cover premium collection and processing costs; (2)
               state premium taxes; (3) sales charges which are deducted in
               order to compensate Prudential for the cost of selling the
               contract. Contracts are also subject to monthly charges for the
               costs of administering the contract and to compensate Prudential
               for the guaranteed minimum death benefit risk.


NOTE 6:   TAXES

          Pruco Life is taxed as a "life insurance company" as defined by the
          Internal Revenue Code and the results of operations of the Account
          form a part of Prudential's consolidated federal tax return. Under
          current federal law, no federal income taxes are payable by the
          Account. As such, no provision for tax liability has been recorded in
          these financial statements.


                                      A17
<PAGE>


NOTE 7:   NET INCREASE (DECREASE) IN NET ASSETS RETAINED IN THE ACCOUNT

          The increase (decrease) in net assets retained in the account
          represents the net contributions (withdrawals) of Pruco Life to (from)
          the Account. Effective October 13, 1998 Pruco Life no longer maintains
          a position in the account. Previously, Pruco Life maintained a
          position in the Account for liquidity purposes including unit
          purchases and redemptions, fund share transactions and expense
          processing.

NOTE 8:   UNIT ACTIVITY

          Transactions in units (including transfers among subaccounts) for the
          years ended December 31, 1999, 1998 and 1997 were as follows:

<TABLE>
<CAPTION>

                                                                          SUBACCOUNTS
                                        ------------------------------------------------------------------------------------
                                                      MONEY MARKET                             DIVERSIFIED BOND
                                                        PORTFOLIO                                  PORTFOLIO
                                        -------------------------------------      -----------------------------------------
                                           1999           1998         1997          1999            1998            1997
                                        ----------    ----------   ----------      --------        --------       ----------
          <S>                           <C>           <C>          <C>             <C>             <C>            <C>
          Contract Owner Contributions:  4,524,977     4,898,552    5,466,810       165,944         499,444          651,969
          Contract Owner Redemptions:   (4,086,505)   (5,840,803)  (6,468,089)     (612,893)       (820,111)      (1,808,895)


                                                                    SUBACCOUNTS (CONTINUED)
                                        ------------------------------------------------------------------------------------
                                                         EQUITY                                FLEXIBLE MANAGED
                                                        PORTFOLIO                                  PORTFOLIO
                                        ----------------------------------------   -----------------------------------------
                                           1999           1998         1997          1999            1998            1997
                                        ----------    ----------   ----------      --------        --------       ----------
          <S>                           <C>           <C>          <C>             <C>             <C>            <C>
          Contract Owner Contributions:    433,562       615,879    1,048,054       552,379       1,084,619        1,082,825
          Contract Owner Redemptions:   (2,013,637)   (1,380,990)  (2,683,804)   (2,782,391)     (2,832,805)      (3,925,584)


                                                                    SUBACCOUNTS (CONTINUED)
                                        ------------------------------------------------------------------------------------
                                                  CONSERVATIVE BALANCED                      ZERO COUPON BOND 2000
                                                        PORTFOLIO                                  PORTFOLIO
                                        -------------------------------------      -----------------------------------------
                                           1999           1998         1997          1999            1998            1997
                                        ----------    ----------   ----------      --------        --------       ----------
          <S>                           <C>           <C>          <C>             <C>             <C>            <C>
          Contract Owner Contributions:    339,529     1,293,114    1,593,155        24,529          24,113           16,351
          Contract Owner Redemptions:   (3,625,319)   (3,776,432)  (5,145,688)      (52,761)       (142,259)        (207,678)


                                                                    SUBACCOUNTS (CONTINUED)
                                        ------------------------------------------------------------------------------------
                                                     HIGH YIELD BOND                              STOCK INDEX
                                                        PORTFOLIO                                  PORTFOLIO
                                        -------------------------------------      -----------------------------------------
                                           1999           1998         1997          1999            1998            1997
                                        ----------    ----------   ----------      --------        --------       ----------
          <S>                           <C>           <C>          <C>             <C>             <C>            <C>
          Contract Owner Contributions:    586,054       632,269      841,648     1,056,257         914,189        1,245,598
          Contract Owner Redemptions:   (1,058,624)     (745,640)  (1,005,588)     (807,719)       (694,885)        (856,444)



                                                                    SUBACCOUNTS (CONTINUED)
                                        ------------------------------------------------------------------------------------
                                                      EQUITY INCOME                            NATURAL RESOURCES
                                                        PORTFOLIO                                  PORTFOLIO
                                        -------------------------------------      -----------------------------------------
                                           1999           1998         1997          1999            1998            1997
                                        ----------    ----------   ----------      --------        --------       ----------
          <S>                           <C>           <C>          <C>             <C>             <C>            <C>
          Contract Owner Contributions:    389,138       548,985      808,744       132,891         169,484          454,152
          Contract Owner Redemptions:   (1,393,091)     (864,017)    (764,150)     (357,079)       (544,078)        (584,279)


                                                                    SUBACCOUNTS (CONTINUED)
                                        ------------------------------------------------------------------------------------
                                                         GLOBAL                                GOVERNMENT INCOME
                                                        PORTFOLIO                                  PORTFOLIO
                                        -------------------------------------      -----------------------------------------
                                           1999           1998         1997          1999            1998            1997
                                        ----------    ----------   ----------      --------        --------       ----------
          <S>                           <C>           <C>          <C>             <C>             <C>            <C>
          Contract Owner Contributions:    646,819       398,412    1,536,857        68,170         454,867          218,187
          Contract Owner Redemptions:     (534,643)   (1,194,394)  (1,659,345)     (333,339)       (354,278)        (369,775)


                                                                    SUBACCOUNTS (CONTINUED)
                                        ------------------------------------------------------------------------------------
                                                       ZERO COUPON                                PRUDENTIAL
                                                   BOND 2005 PORTFOLIO                        JENNISON PORTFOLIO
                                        -------------------------------------      -----------------------------------------
                                           1999           1998         1997          1999            1998            1997
                                        ----------    ----------   ----------      --------        --------       ----------
          <S>                           <C>           <C>          <C>             <C>             <C>            <C>
          Contract Owner Contributions:    325,182       112,598      277,366     3,298,243       1,670,396        1,274,986
          Contract Owner Redemptions:     (161,395)     (110,069)    (470,673)   (1,312,972)       (758,770)        (490,572)


                                                 SUBACCOUNTS (CONTINUED)
                                        -------------------------------------
                                                  SMALL CAPITALIZATION
                                                     STOCK PORTFOLIO
                                        -------------------------------------
                                           1999           1998         1997
                                        ----------    ----------   ----------
          Contract Owner Contributions:    742,267     1,224,706    1,446,653
          Contract Owner Redemptions:   (1,632,968)     (382,979)    (665,592)

</TABLE>


                                      A18
<PAGE>


NOTE 9:   PURCHASES AND SALES OF INVESTMENTS

          The aggregate costs of purchases and proceeds from sales of
          investments in the Series Fund for the year ended December 31, 1999
          were as follows:

<TABLE>
<CAPTION>

                                                                   PORTFOLIOS
                                  ----------------------------------------------------------------------------
                                      MONEY        DIVERSIFIED                      FLEXIBLE     CONSERVATIVE
                                     MARKET           BOND           EQUITY          MANAGED       BALANCED
                                  ------------     -----------    ------------    ------------    ------------
          <S>                     <C>              <C>            <C>             <C>             <C>
          Purchases ............. $  6,907,148     $   369,826    $  1,199,516    $    554,508    $    209,834
          Sales ................. $ (6,250,356)    $(1,598,277)   $(11,106,318)   $(10,193,655)   $(12,050,140)



                                                             PORTFOLIOS (CONTINUED)
                                  ----------------------------------------------------------------------------
                                   ZERO COUPON     HIGH YIELD         STOCK          EQUITY         NATURAL
                                    BOND 2000         BOND            INDEX          INCOME        RESOURCES
                                  ------------     -----------    ------------    ------------    ------------
          <S>                     <C>              <C>            <C>             <C>             <C>
          Purchases ............. $     65,872     $ 1,136,056    $  4,341,975    $    978,442    $    291,523
          Sales ................. $   (172,688)    $(2,274,296)   $ (3,360,156)   $ (5,391,812)   $   (850,415)



                                                             PORTFOLIOS (CONTINUED)
                                  ----------------------------------------------------------------------------
                                                                                                     SMALL
                                                   GOVERNMENT      ZERO COUPON     PRUDENTIAL   CAPITALIZATION
                                     GLOBAL          INCOME         BOND 2005       JENNISON         STOCK
                                  ------------     -----------    ------------    ------------    ------------
          <S>                     <C>              <C>            <C>             <C>             <C>
          Purchases ............. $  1,003,591     $   156,592    $    779,718    $  8,405,189    $  1,132,370
          Sales ................. $   (826,593)    $  (720,900)   $   (388,654)   $ (2,898,419)   $ (2,727,671)

</TABLE>


                                      A19
<PAGE>


                        REPORT OF INDEPENDENT ACCOUNTANTS

To the Contract Owners of the
Pruco Life Single Premium Variable Life Account
and the Board of Directors of
Pruco Life Insurance Company

In our opinion, the accompanying statements of net assets and the related
statements of operations and of changes in net assets present fairly, in all
material respects, the financial position of the subaccounts (Money Market
Portfolio, Diversified Bond Portfolio, Equity Portfolio, Flexible Managed
Portfolio, Conservative Balanced Portfolio, Zero Coupon Bond 2000 Portfolio,
High Yield Bond Portfolio, Stock Index Portfolio, Equity Income Portfolio,
Natural Resources Portfolio, Global Portfolio, Government Income Portfolio, Zero
Coupon Bond 2005 Portfolio, Prudential Jennison Portfolio and Small
Capitalization Stock Portfolio) of the Pruco Life Single Premium Variable Life
Account at December 31, 1999, the results of each of their operations and the
changes in each of their net assets for each of the three years in the period
then ended, in conformity with accounting principles generally accepted in the
United States. These financial statements are the responsibility of Pruco Life
Insurance Company's management; our responsibility is to express an opinion on
these financial statements based on our audits. We conducted our audits of these
financial statements in accordance with auditing standards generally accepted in
the United States, which require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our
audits, which included confirmation of fund shares owned at December 31, 1999,
provide a reasonable basis for the opinion expressed above.




PricewaterhouseCoopers LLP
New York, New York
March 17, 2000

                                      A20





<PAGE>




<PAGE>


Pruco Life Insurance Company and Subsidiaries

Consolidated Statements of Financial Position
December 31, 1999 and 1998 (In Thousands)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                                                 1999               1998
                                                                            -----------------  -----------------
<S>                                                                            <C>                <C>
ASSETS

Fixed maturities
     Available for sale, at fair value (amortized cost, 1999: $3,084,057;       $2,998,362         $2,763,926
        1998: $2,738,654)
     Held to maturity, at amortized cost (fair value, 1999: $377,822; 1998:        388,990            410,558
        $421,845)
Equity securities - available for sale, at fair value (cost, 1999: $3,238;           4,532              2,847
     1998: $2,951)
Mortgage loans on real estate                                                       10,509             17,354
Policy loans                                                                       792,352            766,917
Short-term investments                                                             207,219            240,727
Other long-term investments                                                         77,769             42,050
                                                                            -----------------  -----------------
               Total investments                                                 4,479,733          4,244,379
Cash                                                                                76,396             89,679
Deferred policy acquisition costs                                                1,062,785            861,713
Accrued investment income                                                           68,917             61,114
Receivables from affiliate                                                          23,329                  -
Other assets                                                                        48,228             65,145
Separate Account assets                                                         16,032,449         11,490,751
                                                                            -----------------  -----------------
TOTAL ASSETS                                                                   $21,791,837        $16,812,781
                                                                            =================  =================

LIABILITIES AND STOCKHOLDER'S EQUITY

Liabilities

Policyholders' account balances                                                 $3,116,261         $2,702,011
Future policy benefits and other policyholder liabilities                          635,978            528,779
Cash collateral for loaned securities                                               87,336             73,336
Securities sold under agreement to repurchase                                       21,151             49,708
Income taxes payable                                                               145,600            193,358
Payables to affiliate                                                                    -             66,568
Other liabilities                                                                   83,243             55,038
Separate Account liabilities                                                    16,032,449         11,490,751
                                                                            -----------------  -----------------
Total liabilities                                                               20,122,018         15,159,549
                                                                            -----------------  -----------------
Contingencies (See Footnote 12)
Stockholder's Equity
Common stock, $10 par value;
    1,000,000 shares, authorized;
    250,000 shares, issued and outstanding                                           2,500              2,500
Paid-in-capital                                                                    439,582            439,582
Retained earnings                                                                1,258,428          1,202,833

Accumulated other comprehensive (loss) income
    Net unrealized investment (losses) gains                                       (28,364)             9,902
    Foreign currency translation adjustments                                        (2,327)            (1,585)
                                                                            -----------------  -----------------
Accumulated other comprehensive (loss) income                                      (30,691)             8,317
                                                                            -----------------  -----------------
Total stockholder's equity                                                       1,669,819          1,653,232
                                                                            -----------------  -----------------
TOTAL LIABILITIES AND

     STOCKHOLDER'S EQUITY                                                     $ 21,791,837        $16,812,781
                                                                            =================  =================
</TABLE>


                 See Notes to Consolidated Financial Statements




                                       B1
<PAGE>


Pruco Life Insurance Company and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income
Years Ended December 31, 1999, 1998 and 1997 (In Thousands)
- --------------------------------------------------------------------------------

<TABLE>
<CAPTION>

                                                               1999                1998               1997
                                                            --------------     ---------------    ---------------
<S>                                                          <C>                 <C>                <C>
REVENUES

Premiums                                                       $ 98,976            $ 82,139           $ 69,614
Policy charges and fee income                                   414,425             350,569            332,132
Net investment income                                           276,821             261,430            259,634
Realized investment (losses) gains, net                         (32,545)             44,841             10,974
Asset management fees                                            60,392              40,200             33,310
Other income                                                      1,397               1,067                491
                                                            --------------     ---------------    ---------------

Total revenues                                                  819,466             780,246            706,155
                                                            --------------     ---------------    ---------------

BENEFITS AND EXPENSES

Policyholders' benefits                                         205,042             193,739            199,537
Interest credited to policyholders' account balances            136,852             118,992            110,815
General, administrative and other expenses                      392,041             231,320            227,561
                                                            --------------     ---------------    ---------------

Total benefits and expenses                                     733,935             544,051            537,913
                                                            --------------     ---------------    ---------------

Income from operations before income taxes                       85,531             236,195            168,242
                                                            --------------     ---------------    ---------------

Income tax provision                                             29,936              84,233             61,868
                                                            --------------     ---------------    ---------------

NET INCOME                                                       55,595             151,962            106,374
                                                            --------------     ---------------    ---------------

Other comprehensive (loss) income, net of tax:

     Unrealized gains (losses) on securities, net of
       reclassification adjustment                              (38,266)             (7,227)              3,025

     Foreign currency translation adjustments                      (742)              2,980              (2,863)
                                                            --------------     ---------------    ---------------

Other comprehensive (loss) income                               (39,008)             (4,247)               162
                                                            --------------     ---------------    ---------------

TOTAL COMPREHENSIVE INCOME                                     $ 16,587            $147,715           $106,536
                                                            ==============     ===============    ===============
</TABLE>


                 See Notes to Consolidated Financial Statements




                                       B2
<PAGE>


Pruco Life Insurance Company and Subsidiaries

Consolidated Statements of Changes in Stockholder's Equity
Years Ended December 31, 1999, 1998, and 1997 (In Thousands)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>



                                                                                  Accumulated
                                                                                     other             Total
                                    Common         Paid-in-       Retained       comprehensive     stockholder's
                                      stock         capital       earnings       income (loss)        equity
                                    ------------- ------------ ---------------- ---------------- -------------------
                                    ------------- ------------ ---------------- ---------------- -------------------
<S>                                  <C>         <C>              <C>                 <C>            <C>
Balance, January 1, 1997               $ 2,500     $ 439,582        $944,497            $12,402        $1,398,981

    Net income                               -             -         106,374                  -           106,374

    Change in foreign currency               -             -               -             (2,863)           (2,863)
        translation adjustments,
        net of taxes

    Change in net unrealized
        investment gains, net of             -             -               -              3,025             3,025
        reclassification
        adjustment and taxes
                                    ------------- ------------ ---------------- ---------------- -------------------

Balance, December 31, 1997               2,500       439,582       1,050,871             12,564         1,505,517

   Net income                                -             -         151,962                  -           151,962
    Change in foreign currency
         translation adjustments,            -             -               -              2,980             2,980
         net of taxes

    Change in net unrealized
        investment losses, net of            -             -               -             (7,227)           (7,227)
        reclassification
        adjustment and taxes
                                    ------------- ------------ ---------------- ---------------- -------------------

Balance, December 31, 1998               2,500       439,582       1,202,833              8,317         1,653,232

    Net income                               -             -          55,595                  -            55,595

    Change in foreign currency
        translation adjustments,             -             -               -               (742)             (742)
        net of taxes

    Change in net unrealized
        investment losses, net of            -             -               -            (38,266)          (38,266)
        reclassification
        adjustment and taxes
                                    ------------- ------------ ---------------- ---------------- -------------------

Balance,  December 31, 1999            $ 2,500     $ 439,582     $ 1,258,428         $ (30,691)        $1,669,819
                                    ============= ============================= ================ ===================
</TABLE>



                 See Notes to Consolidated Financial Statements




                                       B3
<PAGE>


Pruco Life Insurance Company and Subsidiaries

Consolidated Statements of Cash Flows

Years Ended December 31, 1999, 1998, and 1997 (In Thousands)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>


                                                                   1999               1998                 1997
                                                             -----------------  -------------------   ---------------
<S>                                                          <C>                  <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income                                                     $    55,595          $   151,962          $   106,374
Adjustments to reconcile net income to net cash (used in)
     provided by operating activities:
     Policy charges and fee income                                 (83,961)             (29,827)             (40,783)
     Interest credited to policyholders' account balances          136,852              118,992              110,815
     Realized investment (gains) losses, net                        32,545              (44,841)             (10,974)
     Amortization and other non-cash items                          75,037               19,655              (26,405)
     Change in:
         Future policy benefits and other policyholders'
           liabilities                                             107,199               61,095               34,907
         Accrued investment income                                  (7,803)               5,886               (4,890)
         Payable to affiliate                                      (89,897)              (3,807)              20,547
         Policy loans                                              (25,435)             (62,962)             (64,173)
         Deferred policy acquisition costs                        (201,072)            (206,471)             (22,083)
         Income taxes payable                                      (47,758)             (16,828)              68,417
         Other, net                                                 45,122              (43,675)              34,577
                                                             -----------------  -------------------   ---------------
Cash Flows (Used In) From Operating Activities                      (3,576)             (50,821)             206,329
                                                             -----------------  -------------------   ---------------
CASH FLOWS FROM INVESTING ACTIVITIES:
     Proceeds from the sale/maturity of:
         Fixed maturities:
               Available for sale                                3,076,848            5,429,396            2,828,665
               Held to maturity                                     45,841               74,767              138,626
         Equity securities                                           5,209                4,101                6,939
         Mortgage loans on real estate                               6,845                5,433               24,925
         Other long-term investments                                   385               33,428              (10,618)
     Payments for the purchase of:
         Fixed maturities:
               Available for sale                               (3,452,289)          (5,617,208)          (3,141,785)
               Held to maturity                                    (24,170)            (145,919)             (70,532)
         Equity securities                                          (5,110)              (2,274)              (4,594)
         Other long-term investments                               (39,094)                (409)                 (51)
     Cash collateral for loaned securities, net                     14,000              (70,085)             143,421
     Securities sold under agreement to repurchase, net            (28,557)              49,708                   --
     Short-term investments, net                                    33,580               75,771             (147,030)
                                                             -----------------  -------------------   ---------------
Cash Flows Used In Investing Activities                           (366,512)            (163,291)            (232,034)
                                                             -----------------  -------------------   ---------------
CASH FLOWS FROM FINANCING ACTIVITIES:
     Policyholders' account balances:
          Deposits                                               3,448,370            3,098,764            2,099,600
          Withdrawals                                           (3,091,565)          (2,866,331)          (2,076,303)
                                                             -----------------  -------------------   ---------------
Cash Flows From (Used in) Financing Activities                     356,805              232,433               23,297
                                                             -----------------  -------------------   ---------------
     Net increase (decrease) in Cash                               (13,283)              18,321               (2,408)
     Cash, beginning of year                                        89,679               71,358               73,766
                                                             -----------------  -------------------   ---------------
CASH, END OF PERIOD                                            $    76,396          $    89,679          $    71,358
                                                             =================  ===================   ===============

SUPPLEMENTAL CASH FLOW INFORMATION

     Income taxes paid (received)                              $    55,144          $    99,810          $    (7,904)
                                                             =================  ===================   ===============
</TABLE>


                 See Notes to Consolidated Financial Statements


                                       B4
<PAGE>


Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


1.  BUSINESS

Pruco Life Insurance Company ("the Company") is a stock life insurance company,
organized in 1971 under the laws of the state of Arizona. The Company is
licensed to sell individual life insurance, variable life insurance, variable
annuities, fixed annuities, and a group annuity program ("the Contracts") in the
District of Columbia, Guam and in all states and territories except New York. In
addition, the Company markets individual life insurance through its branch
office in Taiwan. The Company has two wholly owned subsidiaries, Pruco Life
Insurance Company of New Jersey ("PLNJ") and The Prudential Life Insurance
Company of Arizona ("PLICA"). PLNJ is a stock life insurance company organized
in 1982 under the laws of the state of New Jersey. It is licensed to sell
individual life insurance, variable life insurance, fixed annuities, and
variable annuities only in the states of New Jersey and New York. PLICA is a
stock life insurance company organized in 1988 under the laws of the state of
Arizona. PLICA had no new business sales in 1997, 1998 or 1999 and at this time
will not be issuing new business.

The Company is a wholly owned subsidiary of The Prudential Insurance Company of
America ("Prudential"), a mutual insurance company founded in 1875 under the
laws of the state of New Jersey. Prudential is currently considering
reorganizing itself into a publicly traded stock company through a process known
as "demutualization." On February 10, 1998, Prudential's Board of Directors
authorized management to take the preliminary steps necessary to allow
Prudential to demutualize. On July 1, 1998, legislation was enacted in New
Jersey that would permit this conversion to occur and that specified the process
for conversion. Demutualization is a complex process involving development of a
plan of reorganization, adoption of a plan by Prudential's Board of Directors, a
public hearing and review and approval by two-thirds of the qualified
policyholders who vote on the plan, review and approved by the New Jersey
Department of Banking and Insurance. Prudential's management is in the process
of developing a proposed plan of demutualization, although there can be no
assurance that Prudential's Board of Directors will approve such a plan.

Prudential intends to make additional capital contributions to the Company, as
needed, to enable it to comply with its reserve requirements and fund expenses
in connection with its business. Generally, Prudential is under no obligation to
make such contributions and its assets do not back the benefits payable under
the Contracts.

The Company is engaged in a business that is highly competitive because of the
large number of stock and mutual life insurance companies and other entities
engaged in marketing insurance products, and individual and group annuities.

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The consolidated financial statements have been prepared in accordance with
accounting principles generally accepted in the United States. ("GAAP"). The
Company has extensive transactions and relationships with Prudential and other
affiliates, as more fully described in Footnote 14. Due to these relationships,
it is possible that the terms of these transactions are not the same as those
that would result from transactions among wholly unrelated parties. All
significant intercompany transactions and balances have been eliminated in
consolidation.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities, in particular deferred policy acquisition costs ("DAC")
and future policy benefits, and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues and
expenses during the period. Actual results could differ from those estimates.

Investments

Fixed maturities classified as "available for sale" are carried at estimated
fair value. Fixed maturities that the Company has both the intent and ability to
hold to maturity are stated at amortized cost and classified as "held to
maturity". The amortized cost of fixed maturities is written down to estimated
fair value if a decline in value is considered to be other than temporary.
Unrealized gains and losses on fixed maturities "available for sale", including
the effect on deferred policy acquisition costs and policyholders' account
balances that would result from the realization of unrealized gains and losses,
net of income taxes, are included in a separate component of equity,
"Accumulated other comprehensive income."


                                       B5
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Equity securities, available for sale, comprised of common and non-redeemable
preferred stock, are carried at estimated fair value. The associated unrealized
gains and losses, net of income tax, the effects on deferred policy acquisition
costs and on policyholders' account balances that would result from the
realization of unrealized gains and losses, are included in a separate component
of equity, "Accumulated other comprehensive income."

Mortgage loans on real estate are stated primarily at unpaid principal balances,
net of unamortized discounts and an allowance for losses. The allowance for
losses includes a loan specific reserve for impaired loans and a portfolio
reserve for incurred but not specifically identified losses. Impaired loans
include those loans for which a probability exists that all amounts due
according to the contractual terms of the loan agreement will not be collected.
Impaired loans are measured at the present value of expected future cash flows
discounted at the loan's effective interest rate, or at the fair value of the
collateral if the loan is collateral dependent. Interest received on impaired
loans, including loans that were previously modified in a troubled debt
restructuring, is either applied against the principal or reported as revenue,
according to management's judgment as to the collectibility of principal.
Management discontinues accruing interest on impaired loans after the loans are
90 days delinquent as to principal or interest, or earlier when management has
serious doubts about collectibility. When a loan is recognized as impaired, any
accrued but uncollectible interest is reversed against interest income of the
current period. Generally, a loan is restored to accrual status only after all
delinquent interest and principal are brought current and, in the case of loans
where the payment of interest has been interrupted for a substantial period, a
regular payment performance has been established. The portfolio reserve for
incurred but not specifically identified losses considers the Company's past
loan loss experience, the current credit composition of the portfolio,
historical credit migration, property type diversification, default and loss
severity statistics and other relevant factors.

Policy loans are carried at unpaid principal balances.

Short-term investments, including highly liquid debt instruments purchased with
an original maturity of twelve months or less, are carried at amortized cost,
which approximates fair value.

Other long-term investments represent the Company's investments in joint
ventures and partnerships in which the Company does not have control. These
investments are recorded using the equity method of accounting, reduced for
other than temporary declines in value. The Company's investment in the Separate
Accounts are included on this line.

Realized investment gains, net are computed using the specific identification
method. Costs of fixed maturity and equity securities are adjusted for
impairments considered to be other than temporary.

Cash

Cash includes cash on hand, amounts due from banks, and money market
instruments.

Deferred Policy Acquisition Costs
The costs which vary with and that are related primarily to the production of
new insurance business are deferred to the extent that they are deemed
recoverable from future profits. Such costs include certain commissions, costs
of policy issuance and underwriting, and certain variable field office expenses.
Deferred policy acquisition costs are subject to recoverability testing at the
time of policy issue and loss recognition testing at the end of each accounting
period. Deferred policy acquisition costs are adjusted for the impact of
unrealized gains or losses on investments as if these gains or losses had been
realized, with corresponding credits or charges included in "Accumulated other
comprehensive income".

Policy acquisition costs related to interest-sensitive products and certain
investment-type products are deferred and amortized over the expected life of
the contracts (periods ranging from 15 to 30 years) in proportion to estimated
gross profits arising principally from investment results, mortality and expense
margins, and surrender charges based on historical and anticipated future
experience, which is updated periodically. The effect of changes to estimated
gross profits on unamortized deferred acquisition costs is reflected in "General
and administrative expenses" in the period such estimated gross profits are
revised.



                                       B6
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Securities loaned
Securities loaned are treated as financing arrangements and are recorded at the
amount of cash received as collateral. The Company obtains collateral in an
amount equal to 102% and 105% of the fair value of the domestic and foreign
securities, respectively. The Company monitors the market value of securities
loaned on a daily basis with additional collateral obtained as necessary.
Non-cash collateral received is not reflected in the consolidated statements of
financial position because the debtor typically has the right to redeem the
collateral on short notice. Substantially all of the Company's securities loaned
are with large brokerage firms.

Securities sold under agreements to repurchase
Securities sold under agreements to repurchase are treated as financing
arrangements and are carried at the amounts at which the securities will be
subsequently reacquired, including accrued interest, as specified in the
respective agreements. Assets to be repurchased are the same, or substantially
the same, as the assets transferred and the transferor, through right of
substitution, maintains the right and ability to redeem the collateral on short
notice. The market value of securities to be repurchased is monitored and
additional collateral is obtained, where appropriate, to protect against credit
exposure.

Securities lending and securities repurchase agreements are used to generate net
investment income and facilitate trading activity. These instruments are
short-term in nature (usually 30 days or less). Securities loaned are
collateralized principally by U.S. Government and mortgage-backed securities.
Securities sold under repurchase agreements are collateralized principally by
cash. The carrying amounts of these instruments approximate fair value because
of the relatively short period of time between the origination of the
instruments and their expected realization.

Separate Account Assets and Liabilities
Separate Account assets and liabilities are reported at estimated fair value and
represent segregated funds which are invested for certain policyholders and
other customers. Separate Account assets include common stocks, fixed
maturities, real estate related securities, and short-term investments. The
assets of each account are legally segregated and are not subject to claims that
arise out of any other business of the Company. Investment risks associated with
market value changes are borne by the customers, except to the extent of minimum
guarantees made by the Company with respect to certain accounts. The investment
income and gains or losses for Separate Accounts generally accrue to the
policyholders and are not included in the Consolidated Statements of Operations.
Mortality, policy administration and surrender charges on the accounts are
included in "Policy charges and fee income".

Separate Accounts represent funds for which investment income and investment
gains and losses accrue directly to, and investment risk is borne by, the
policyholders, with the exception of the Pruco Life Modified Guaranteed Annuity
Account. The Pruco Life Modified Guaranteed Annuity Account is a non-unitized
Separate Account, which funds the Modified Guaranteed Annuity Contract and the
Market Value Adjustment Annuity Contract. Owners of the Pruco Life Modified
Guaranteed Annuity and the Market Value Adjustment Annuity Contracts do not
participate in the investment gain or loss from assets relating to such
accounts. Such gain or loss is borne, in total, by the Company.

Insurance Revenue and Expense Recognition
Premiums from insurance policies are generally recognized when due. Benefits are
recorded as an expense when they are incurred. For traditional life insurance
contracts, a liability for future policy benefits is recorded using the net
level premium method. For individual annuities in payout status, a liability for
future policy benefits is recorded for the present value of expected future
payments based on historical experience.

Premiums from non-participating group annuities with life contingencies are
generally recognized when due. For single premium immediate annuities, premiums
are recognized when due with any excess profit deferred and recognized in a
constant relationship to insurance in-force or, for annuities, the amount of
expected future benefit payments.



                                       B7
<PAGE>


Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Amounts received as payment for interest-sensitive life, individual annuities
and guaranteed investment contracts are reported as deposits to "Policyholders'
account balances". Revenues from these contracts reflected as "Policy charges
and fee income" consist primarily of fees assessed during the period against the
policyholders' account balances for mortality charges, policy administration
charges and surrender charges. In addition, interest earned from the investment
of these account balances is reflected in "Net investment income". Benefits and
expenses for these products include claims in excess of related account
balances, expenses of contract administration, interest credited and
amortization of deferred policy acquisition costs.

Foreign Currency Translation Adjustments
Assets and liabilities of the Taiwan branch are translated to U.S. dollars at
the exchange rate in effect at the end of the period. Revenues, benefits and
other expenses are translated at the average rate prevailing during the period.
Cumulative translation adjustments arising from the use of differing exchange
rates from period to period are charged or credited directly to "Other
comprehensive income". The cumulative effect of changes in foreign exchange
rates are included in "Accumulated other comprehensive income".

Asset Management Fees
The Company receives asset management fee income from policyholder account
balances invested in The Prudential Series Fund ("PSF"), which are a portfolio
of mutual fund investments related to the Company's Separate Account products.

Derivative Financial Instruments
Derivatives are financial instruments whose values are derived from interest
rates, foreign exchange rates, various financial indices or the value of
securities or commodities. Derivative financial instruments used by the Company
include futures, currency swaps and options contracts and can be exchange-traded
or contracted in the over-the-counter market. The Company uses derivative
financial instruments to seek to reduce market risk from changes in interest
rates or foreign currency exchange rates, and to alter interest rate or currency
exposures arising from mismatches between assets and liabilities. All
derivatives used by the Company are for other than trading purposes.

To qualify as a hedge, derivatives must be designated as hedges for existing
assets, liabilities, firm commitments or anticipated transactions which are
identified and probable to occur, and effective in reducing the market risk to
which the Company is exposed. The effectiveness of the derivatives must be
evaluated at the inception of the hedge and throughout the hedge period.

When derivatives qualify as hedges, the changes in the fair value or cash flows
of the derivatives and the hedged items are recognized in earnings in the same
period. If the Company's use of derivatives does not meet the criteria to apply
hedge accounting, the derivatives are recorded at fair value in "Other
liabilities" in the Consolidated Statements of Financial Position, and changes
in their fair value are recognized in earnings in "Realized investment gains,
net" without considering changes in the hedged assets or liabilities. Cash flows
from derivative assets and liabilities are reported in the operating activities
section in the Consolidated Statements of Cash Flows.

Income Taxes
The Company and its subsidiaries are members of the consolidated federal income
tax return of Prudential and files separate company state and local tax returns.
Pursuant to the tax allocation arrangement with Prudential, total federal income
tax expense is determined on a separate company basis. Members with losses
record tax benefits to the extent such losses are recognized in the consolidated
federal tax provision. Deferred income taxes are generally recognized, based on
enacted rates, when assets and liabilities have different values for financial
statement and tax reporting purposes. A valuation allowance is recorded to
reduce a deferred tax asset to that portion that is expected to be realized.


                                       B8
<PAGE>


Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

New Accounting Pronouncements

In June 1998, the Financial Accounting Standards Board ("FASB") issued Statement
of Financial Accounting Standards ("SFAS") No. 133, "Accounting for Derivative
Instruments and Hedging Activities" which requires that companies recognize all
derivatives as either assets or liabilities in the balance sheet and measure
those instruments at fair value. SFAS No. 133 does not apply to most traditional
insurance contracts. However, certain hybrid contracts that contain features
which may affect settlement amounts similarly to derivatives may require
separate accounting for the "host contract" and the underlying "embedded
derivative" provisions. The latter provisions would be accounted for as
derivatives as specified by the statement.

SFAS No. 133 provides, if certain conditions are met, that a derivative may be
specifically designated as (1) a hedge of the exposure to changes in the fair
value of a recognized asset or liability or an unrecognized firm commitment
(fair value hedge), (2) a hedge of the exposure to variable cash flows of a
forecasted transaction (cash flow hedge), or (3) a hedge of the foreign currency
exposure of a net investment in a foreign operation, an unrecognized firm
commitment, an available-for-sale security or a foreign-currency-denominated
forecasted transaction (foreign currency hedge).

Under SFAS No. 133, the accounting for changes in fair value of a derivative
depends on its intended use and designation. For a fair value hedge, the gain or
loss is recognized in earnings in the period of change together with the
offsetting loss or gain on the hedged item. For a cash flow hedge, the effective
portion of the derivative's gain or loss is initially reported as a component of
other comprehensive income and subsequently reclassified into earnings when the
forecasted transaction affects earnings. For a foreign currency hedge, the gain
or loss is reported in other comprehensive income as part of the foreign
currency translation adjustment. For all other derivatives not designated as
hedging instruments, the gain or loss is recognized in earnings in the period of
change. The Company is required to adopt this Statement, as amended, as of
January 1, 2001 and is currently assessing the effect of the new standard.

In October 1998, the American Institute of Certified Public Accountants
("AICPA") issued Statement of Position 98-7, "Deposit Accounting: Accounting for
Insurance and Reinsurance Contracts That Do Not Transfer Insurance Risk" ("SOP
98-7"). This statement provides guidance on how to account for insurance and
reinsurance contracts that do not transfer insurance risk. SOP 98-7 is effective
for fiscal years beginning after June 15, 1999. The adoption of this statement
is not expected to have a material effect on the Company's financial position or
results of operations.

Reclassifications

Certain amounts in the prior years have been reclassified to conform to current
year presentation.


                                       B9
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


3.  INVESTMENTS

Fixed Maturities and Equity Securities:

The following tables provide additional information relating to fixed maturities
and equity securities as of December 31,:

<TABLE>
<CAPTION>


                                                                              1999
                                                 --------------------------------------------------------------
                                                                        Gross         Gross
                                                  Amortized           Unrealized     Unrealized       Estimated
                                                     Cost                Gains         Losses        Fair Value
                                                  ----------          ----------      ----------     ----------
                                                                         (In Thousands)
<S>                                             <C>                 <C>             <C>            <C>
Fixed maturities available for sale
U.S. Treasury securities and obligations of
     U.S. government corporations and agencies    $  113,172          $        2      $    2,052     $  111,122

Foreign government bonds                              92,725               1,718           1,455         92,988

Corporate securities                               2,876,602               8,013          92,075      2,792,540

Mortgage-backed securities                             1,558                 157               3          1,712

                                                  ----------          ----------      ----------     ----------
Total fixed maturities available for sale         $3,084,057          $    9,890      $   95,585     $2,998,362
                                                  ==========          ==========      ==========     ==========

Fixed maturities held to maturity

Corporate securities                              $  388,990          $    1,832      $   13,000     $  377,822
                                                  ----------          ----------      ----------     ----------
Total fixed maturities held to maturity           $  388,990          $    1,832      $   13,000     $  377,822
                                                  ==========          ==========      ==========     ==========

Equity securities available for sale              $    3,238          $    1,373      $       79     $    4,532
                                                  ==========          ==========      ==========     ==========
</TABLE>

<TABLE>
<CAPTION>

                                                                                     1998
                                                      ----------------------------------------------------------------
                                                                        Gross            Gross
                                                      Amortized      Unrealized       Unrealized            Estimated
                                                         Cost           Gains            Losses            Fair Value
                                                      ----------      ----------       ----------          ----------
                                                                             (In Thousands)
<S>                                                 <C>             <C>              <C>                 <C>
  Fixed maturities available for sale
  U.S. Treasury securities and obligations of
    U.S government corporation and agencies           $  110,294      $      864       $      319          $  110,839

Foreign government bonds                                  87,112           2,003              696              88,419

Corporate securities                                   2,540,498          30,160            6,896           2,563,762

Mortgage-backed securities                                   750             156               --                 906

                                                      ----------      ----------       ----------          ----------
Total fixed maturities available for sale             $2,738,654      $   33,183       $    7,911          $2,763,926
                                                      ==========      ==========       ==========          ==========

Fixed maturities held to maturity

Corporate securities                                  $  410,558      $   11,287       $       --          $  421,845

                                                      ----------      ----------       ----------          ----------
Total fixed maturities held to maturity               $  410,558      $   11,287       $       --          $  421,845
                                                      ==========      ==========       ==========          ==========

Equity securities available for sale                  $    2,951      $      168       $      272          $    2,847
                                                      ==========      ==========       ==========          ==========
</TABLE>



                                      B10
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


3.  INVESTMENTS (continued)
The amortized cost and estimated fair value of fixed maturities, categorized by
contractual maturities at December 31, 1999 are shown below:

<TABLE>
<CAPTION>

                                            Available for Sale                     Held to Maturity
                                    ------------------------------------  ------------------------------------
                                       Amortized       Estimated Fair         Amortized       Estimated Fair
                                          Cost              Value               Cost               Value
                                    ----------------- ------------------   ---------------- -------------------
                                              (In Thousands)                         (In Thousands)

<S>                                   <C>                 <C>                 <C>                <C>
Due in one year or less                $  178,298          $  175,638          $  18,369          $  18,296

Due after one year through five         1,144,552           1,118,150            178,893            178,624
years

Due after five years through ten        1,326,637           1,283,515            175,549            165,341
years

Due after ten years                       433,012             419,347             16,179             15,561

Mortgage-backed securities                  1,558               1,712                  -                  -
                                    ---------------- -------------------  ----------------- ------------------
Total                                  $3,084,057          $2,998,362          $ 388,990          $ 377,822
                                    ================ ===================  ================= ==================
</TABLE>


Actual maturities will differ from contractual maturities because, in certain
circumstances, issuers have the right to call or prepay obligations.

Proceeds from the sale of fixed maturities available for sale during 1999, 1998,
and 1997 were $2,950.4 million, $5,327.3 million, and $2,796.3 million,
respectively. Gross gains of $13.1 million, $46.3 million, and $18.6 million and
gross losses of $31.1 million, $14.1 million, and $7.9 million were realized on
those sales during 1999, 1998, and 1997, respectively. During the years ended
December 31, 1999, 1998, and 1997, there were no securities classified as held
to maturity that were sold.

Proceeds from the maturity of fixed maturities available for sale during 1999,
1998, and 1997 were $126.5 million, $102.1 million, and $32.4 million,
respectively

Writedowns for impairments of fixed maturities which were deemed to be other
than temporary were $11.2 million, $2.8 million and $0.1 million for the years
1999, 1998 and 1997, respectively.

Mortgage Loans on Real Estate

The Company's mortgage loans were collateralized by the following property types
at December 31, 1999 and 1998.

<TABLE>
<CAPTION>


                                                       1999                             1998
                                             ----------------------------     ---------------------------
                                                                   (In Thousands)

<S>             <C>                             <C>            <C>              <C>            <C>
                 Retail stores                    $ 6,518        62.0%            $ 7,356        42.4%

                 Apartment complexes                    -            -              5,988        34.5%

                 Industrial buildings               3,991        38.0%              4,010        23.1%

                                             ----------------------------     ---------------------------
                       Net carrying value         $10,509       100.0%            $17,354       100.0%
                                             ============================     ===========================
</TABLE>

The largest concentration of mortgage loans are in the states of Washington
(51%), New Jersey (38%), and North Dakota (11%).

Special Deposits and Restricted Assets
Fixed maturities of $8.2 million and $8.6 million at December 31, 1999 and 1998,
respectively, were on deposit with governmental authorities or trustees as
required by certain insurance laws. Equity securities restricted as to sale were
$.3 million and $2.5 million at December 31, 1999 and 1998, respectively.




                                      B11
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------
3.  INVESTMENTS (continued)

Other Long-Term Investments

The Company's "Other long-term investments" of $77.8 million and $42.0 million
as of December 31, 1999 and 1998, respectively, are comprised of joint ventures,
limited partnerships, and the Company's investment in the Separate Accounts.
Joint ventures, limited partnerships and other totaled $32.8 million and $1.0
million at December 31, 1999 and 1998, respectively. The Company's share of net
income from the joint ventures was $0.3 million, $0.1 million and $2.2 million
for the years ended December 31, 1999, 1998 and 1997, respectively, and is
reported in "Net investment income." The Company's investment in the Separate
Accounts was $45.0 million and $41.0 million at December 31, 1999 and 1998,
respectively.

Investment Income and Investment Gains and Losses

Net investment income arose from the following sources for the years ended
December 31:


<TABLE>
<CAPTION>

                                                              1999                1998               1997
                                                          ----------------   -----------------  -----------------
                                                                             (In Thousands)

<S>                                                         <C>                 <C>               <C>
  Fixed maturities - available for sale                        $188,236            $179,184          $ 161,140
  Fixed maturities - held to maturity                            29,245              26,128             26,936
  Equity securities                                                   -                  14                 76
  Mortgage loans on real estate                                   2,825               1,818              2,585
  Policy loans                                                   42,422              40,928             37,398
  Short-term investments                                         19,208              23,110             22,011
  Other                                                           4,432               6,886             14,920
                                                          ----------------   -----------------  -----------------
  Gross investment income                                       286,368             278,068            265,066
       Less:  investment expenses                                (9,547)            (16,638)            (5,432)
                                                          ----------------   -----------------  -----------------
  Net investment income                                        $276,821            $261,430          $ 259,634
                                                          ================   =================  =================
</TABLE>


Realized investment gains (losses), net including charges for other than
temporary reductions in value, for the years ended December 31, were from the
following sources:

<TABLE>
<CAPTION>


                                                              1999                1998               1997
                                                          ----------------   -----------------  -----------------
                                                                             (In Thousands)

<S>                                                         <C>                   <C>                 <C>
  Fixed maturities - available for sale                       $ (29,192)            $29,330             $9,039
  Fixed maturities - held to maturity                               102                 487                821
  Equity securities                                                 392               3,489                  8
  Mortgage loans on real estate                                       -                   -                797
  Derivative instruments                                         (1,557)             12,414                  -
  Other                                                          (2,290)               (879)               309
                                                          ----------------   -----------------  -----------------
  Realized investment (losses) gains, net                     $ (32,545)            $44,841            $10,974
                                                          ================   =================  =================
</TABLE>






                                      B12
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


Net Unrealized Investment Gains (Losses)

Net unrealized investment gains (losses) on securities available for sale are
included in the Consolidated Statements of Financial Position as a component of
"Accumulated other comprehensive income". Changes in these amounts include
reclassification adjustments to avoid including in "Other Comprehensive income
(loss)", those items that are included as part of "Net income" for a period that
also had been part of "Other Comprehensive income (loss)" in earlier periods.
The amounts for the years ended December 31, net of tax, are as follows:

<TABLE>
<CAPTION>


                                                                                                                     Accumulated
                                                                                                                        other
                                                                                                                     comprehensive
                                                                                                                     income (loss)
                                                                        Deferred                        Deferred     related to net
                                                      Unrealized        policy        Policyholders'   income tax     unrealized
                                                     gains(losses)    acquisition       Account        (liability)    investment
                                                     investments        costs           Balances        benefit      gains(losses)
                                                      ---------        ---------        ---------       ---------      ---------
                                                                                   (In Thousands)
<S>                                                <C>              <C>              <C>              <C>              <C>
Balance,  January 1, 1997                             $  26,930        $  (7,893)       $   2,451        $  (7,384)       $  14,104

Net investment gains (losses) on
investments arising during the period                    21,338               --               --           (7,445)          13,893

Reclassifications adjustment for
gains included in net income                            (10,277)              --               --            3,585           (6,692)

Impact of net unrealized investment
gains on deferred policy acquisition
costs                                                        --           (8,412)              --            2,944           (5,468)

Impact of net unrealized investment
gains on policyholders' account
balances                                                     --               --            1,292               --            1,292
                                                      ---------        ---------        ---------        ---------        ---------

Balance,  December 31, 1997                              37,991          (16,305)           3,743           (8,300)          17,129

Net investment gains (losses) on
investments arising during the period                    22,801               --               --           (7,588)          15,213

Reclassifications adjustment for
gains included in net income                            (35,623)              --               --           11,855          (23,768)

Impact of net unrealized investment
gains on deferred policy acquisition
costs                                                        --            3,190               --           (1,048)           2,142

Impact of net unrealized investment
gains on policyholders' account
balances                                                     --               --           (1,063)             249             (814)
                                                      ---------        ---------        ---------        ---------        ---------

Balance,  December 31, 1998                              25,169          (13,115)           2,680           (4,832)           9,902

Net investment gains (losses) on
investments arising during the period                  (138,268)              --               --           47,785          (90,483)

Reclassifications adjustment for
gains included in net income                             28,698               --               --           (9,970)          18,728

Impact of net unrealized investment
gains on deferred policy acquisition                         --           53,407               --          (16,283)          37,124
costs

Impact of net unrealized investment
gains on policyholders' account                              --               --           (5,712)           2,077           (3,635)
balances
                                                      ---------        ---------        ---------        ---------        ---------

Balance,  December 31, 1999                           $ (84,401)       $  40,292        $  (3,032)       $  18,777        $ (28,364)
                                                      =========        =========        =========        =========        =========
</TABLE>




                                      B13
<PAGE>


Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


4.  DEFERRED POLICY ACQUISITION COSTS

The balances of and changes in deferred policy acquisition costs for the year
ended December 31, 1999, are as follows:

<TABLE>
<CAPTION>


                                                                                           1999
                                                                                     -----------------
                                                                                      (In Thousands)

<S>                                                                                       <C>
Balance, beginning of year                                                                $ 861,713
Capitalization on commissions, sales and issue expenses                                     242,373
Amortization                                                                               (96,451)
Change in unrealized investment gains                                                        53,407
Foreign currency translation                                                                  1,743
                                                                                     -----------------
Balance, end of year                                                                     $1,062,785
                                                                                     =================
</TABLE>


5.  POLICYHOLDERS' LIABILITIES

Future policy benefits and other policyholder liabilities at December 31 are as
follows:


<TABLE>
<CAPTION>

                                                          1999                     1998
                                                   -------------------      -------------------
                                                                 (In Thousands)

<S>                                                         <C>                      <C>
         Life insurance                                     $ 587,162                $ 500,429
         Annuities                                             48,816                   28,350
                                                   -------------------      -------------------
                                                            $ 635,978                $ 528,779
                                                   ===================      ===================
</TABLE>


Life insurance liabilities include reserves for death benefits. Annuity
liabilities include reserves for immediate annuities.

The following table highlights the key assumptions generally utilized in
calculating these reserves:

<TABLE>
<CAPTION>


           Product                       Mortality               Interest Rate          Estimation Method
- -------------------------------   -------------------------   --------------------   -------------------------
<S>                              <C>                            <C>                 <C>
Life insurance - Domestic         Generally rates guaranteed     2.5% to 7.5%        Net level premium based
                                  in calculating cash                                on the non-forfeiture interest
                                  surrender values                                   rate

Life insurance - International    Generally rates guaranteed     2.5% to 7.5%        Net level premium based
                                  in calculating cash                                on the expected investment
                                  surrender values                                   return

Individual immediate annuities    1983 Individual Annuity        3.5% to 11.0%       Present value of
                                  Mortality Table with                               expected future payment
                                  certain modifications                              based on historical
                                                                                     experience
</TABLE>




                                      B14
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


5.  POLICYHOLDERS' LIABILITIES (continued)

Policyholders' account balances at December 31, are as follows:
<TABLE>
<CAPTION>



                                                          1999                     1998
                                                   -------------------      -------------------
                                                                 (In Thousands)

<S>                                                <C>                      <C>
         Interest-sensitive life contracts                 $1,383,795               $1,392,649
         Individual annuities                               1,147,722                1,077,996
         Guaranteed investment contracts                      584,744                  231,366
                                                   -------------------      -------------------
                                                           $3,116,261               $2,702,011
                                                   ===================      ===================
</TABLE>


Policyholders' account balances for interest-sensitive life, individual
annuities, and guaranteed investment contracts are equal to policy account
values plus unearned premiums. The policy account values represent an
accumulation of gross premium payments plus credited interest less withdrawals,
expenses and mortality charges.

Certain contract provisions that determine the policyholder account balances are
as follows:

<TABLE>
<CAPTION>


            Product                            Interest Rate                Withdrawal / Surrender Charges
- ---------------------------------   ------------------------------------  ------------------------------------
<S>                                 <C>                                   <C>
Interest sensitive life                         4.0% to 6.5 %             Various up to 10 years

Individual annuities                            3.0% to 5.6%              0% to 8% for up to 8 years

Guaranteed investment contracts                5.02% to 7.32%             Subject to market value withdrawal
                                                                          provisions for any funds withdrawn
                                                                          other than for benefit responsive
                                                                          and contractual payments
</TABLE>


6.  REINSURANCE

The Company participates in reinsurance, with Prudential and other companies, in
order to provide greater diversification of business, provide additional
capacity for future growth and limit the maximum net loss potential arising from
large risks. Reinsurance ceded arrangements do not discharge the Company or the
insurance subsidiaries as the primary insurer, except for cases involving a
novation. Ceded balances would represent a liability of the Company in the event
the reinsurers were unable to meet their obligations to the Company under the
terms of the reinsurance agreements. The likelihood of a material reinsurance
liability reassumed by the Company is considered to be remote.




                                      B15
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


6.  REINSURANCE (continued)

Reinsurance amounts included in the Consolidated Statements of Operations for
the year ended December 31 are below.
<TABLE>
<CAPTION>



                                                          1999               1998               1997
                                                    ----------------   ----------------   ----------------
                                                                       (In Thousands)

<S>                                                 <C>                <C>                <C>
        Reinsurance premiums assumed                        1,778              1,395              1,369
        Reinsurance premiums ceded - affiliated            (6,882)            (6,532)              (686)
        Reinsurance premiums ceded - unaffiliated          (1,744)            (2,819)            (3,038)
                                                    ================   ================   ================

        Policyholders' benefits ceded                      $4,228             $4,044             $3,912
                                                    ================   ================   ================
</TABLE>


Reinsurance recoverables, included in "Other assets" in the Company's
Consolidated Statements of Financial Position, at December 31 include amounts
recoverable on unpaid and paid losses and were as follows:

<TABLE>
<CAPTION>


                                                              1999                 1998
                                                       -------------------   -----------------
                                                                    (In Thousands)

<S>                                                    <C>                   <C>
         Life insurance - affiliated                            $ 6,653             $ 4,155
         Life insurance - unaffiliated                            2,625               2,326
         Other reinsurance - affiliated                          15,600              21,650
                                                       -------------------   -----------------
                                                                $24,878             $28,131
                                                       ===================   =================
</TABLE>


7.  EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Plans

The Company has a non-contributory defined benefit pension plan which covers
substantially all of its Taiwanese employees. This plan was established as of
September 30, 1998 and the projected benefit obligation and related expenses at
December 31, 1999 were not material to the Consolidated Statements of Financial
Position or results of operations for the years presented. All other employee
benefit costs are allocated to the Company by Prudential in accordance with the
service agreement described in Footnote 14.




                                      B16
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


8.  INCOME TAXES

The components of income taxes for the years ended December 31, are as follows:

<TABLE>
<CAPTION>


                                                             1999                1998               1997
                                                         ----------------   -----------------  -----------------
                                                                            (In Thousands)
<S>                                                      <C>                <C>                <C>
     Current tax expense (benefit):
        U.S.                                                $ (14,093)             $67,272            $71,989
        State and local                                            378               2,496              1,337
        Foreign                                                     15                   -                  -
                                                         ----------------   -----------------  -----------------
        Total                                                 (13,700)              69,768             73,326
                                                         ----------------   -----------------  -----------------


     Deferred tax expense (benefit):
        U.S.                                                    42,320              14,059           (11,458)
        State and local                                          1,316                 406                  -
                                                         ----------------   -----------------  -----------------
        Total                                                   43,636              14,465           (11,458)
                                                         ----------------   -----------------  -----------------

      Total income tax expense                                 $29,936             $84,233            $61,868
                                                         ================   =================  =================
</TABLE>


The income tax expense for the years ended December 31, differs from the amount
computed by applying the expected federal income tax rate of 35% to income from
operations before income taxes for the following reasons:

<TABLE>
<CAPTION>


                                                             1999                1998               1997
                                                         ----------------   -----------------  -----------------
                                                                           (In Thousands)

<S>                                                      <C>                <C>                <C>
     Expected federal income tax expense                       $29,936             $82,668            $58,885
     State and local income taxes                                1,101               1,886                869
     Dividends received deduction                              (1,010)               (199)                  -
     Other                                                        (91)               (122)              2,114
                                                         ----------------   -----------------  -----------------
     Total income tax expense                                  $29,936             $84,233            $61,868
                                                         ================   =================  =================
</TABLE>

Deferred tax assets and liabilities at December 31, resulted from the items
listed in the following table:

<TABLE>
<CAPTION>


                                                              1999                     1998
                                                         ------------------      -------------------
                                                                     (In Thousands)
<S>                                                      <C>                     <C>
              Deferred tax assets
                   Insurance reserves                           $ 93,949                 $ 93,564
                   Net unrealized (gains) losses on
                       securities                                 31,132                   (9,061)
                   Other                                           2,502                        -
                                                         ------------------      -------------------
                   Deferred tax assets                           127,583                   84,503
                                                         ------------------      -------------------

              Deferred tax liabilities
                   Deferred acquisition costs                    299,683                  224,179
                   Net investment gains                              110                    3,180
                   Other                                               -                    5,978
                                                         ------------------      -------------------
                   Deferred tax liabilities                      299,793                  233,337
                                                         ------------------      -------------------

              Net deferred tax liability                        $172,210                 $148,834
                                                         ==================      ===================
</TABLE>



                                      B17
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


8.  INCOME TAXES (continued)

Management believes that based on its historical pattern of taxable income, the
Company and its subsidiaries will produce sufficient income in the future to
realize its deferred tax assets after valuation allowance. Adjustments to the
valuation allowance will be made if there is a change in management's assessment
of the amount of the deferred tax asset that is realizable. At December 31, 1999
and 1998, respectively, the Company and its subsidiaries had no federal or state
operating loss carryforwards for tax purposes.

The Internal Revenue Service (the "Service") has completed all examinations of
the consolidated federal income tax returns through 1992. The Service has begun
their examination of the years 1993 through 1995.

9.  EQUITY

Reconciliation of Statutory Surplus and Net Income

Accounting practices used to prepare statutory financial statements for
regulatory purposes differ in certain instances from GAAP. The following table
reconciles the Company's statutory net income and surplus as of and for the
years ended December 31, determined in accordance with accounting practices
prescribed or permitted by the Arizona Department of Insurance and the New
Jersey Department of Banking and Insurance with net income and equity determined
using GAAP.

<TABLE>
<CAPTION>


                                                              1999               1998               1997
                                                          ----------------   ----------------   ----------------
                                                                            (In Thousands)
<S>                                                       <C>                <C>                <C>
Statutory net (loss) income                                  $ (82,291)         $ (33,097)           $ 12,778

Adjustments to reconcile to net income on a GAAP basis:

     Statutory income of subsidiaries                            20,221             18,953             18,553
     Amortization and capitalization of deferred
        acquisition costs                                       145,921            202,375             38,003
     Deferred premium                                               639              2,625              1,144
     Insurance revenue and expenses                              45,915            (24,942)            26,517
     Income taxes                                               (43,644)           (21,805)            11,956
     Valuation of investments                                   (24,908)            20,077                506
     Asset management fees                                      (13,503)                 -                  -
     Other, net                                                   7,245            (12,224)            (3,083)
                                                          ----------------   ----------------   ----------------
GAAP net income                                                $ 55,595           $151,962           $106,374
                                                          ================   ================   ================


                                                               1999               1998
                                                          -----------------  -----------------
                                                                    (In Thousands)
  Statutory surplus                                             $889,186           $931,164

  Adjustments to reconcile to equity on a GAAP basis:

       Valuation of investments                                  (38,258)           117,254
       Deferred acquisition costs                              1,062,785            861,713
       Deferred premium                                          (16,539)           (15,625)
       Insurance liabilities                                     (54,927)          (133,811)
       Income taxes                                             (150,957)          (123,343)
       Asset management fees                                     (13,503)                 -
       Other, net                                                 (7,968)            15,880
                                                          -----------------  -----------------
  GAAP stockholder's equity                                   $1,669,819         $1,653,232
                                                          =================  =================
</TABLE>





                                      B18
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


10.  FAIR VALUE OF FINANCIAL INSTRUMENTS

The estimated fair values presented below have been determined using available
information and valuation methodologies. Considerable judgment is applied in
interpreting data to develop the estimates of fair value. Accordingly, such
estimates presented may not be realized in a current market exchange. The use of
different market assumptions and/or estimation methodologies could have a
material effect on the estimated fair values. The following methods and
assumptions were used in calculating the estimated fair values (for all other
financial instruments presented in the table, the carrying value approximates
estimated fair value).

Fixed maturities and Equity securities

Estimated fair values for fixed maturities and equity securities, other than
private placement securities, are based on quoted market prices or estimates
from independent pricing services. Fair values for private placement securities
are estimated using a discounted cash flow model which considers the current
market spreads between the U.S. Treasury yield curve and corporate bond yield
curve, adjusted for the type of issue, its current credit quality and its
remaining average life. The estimated fair value of certain non-performing
private placement securities is based on amounts estimated by management.

Mortgage loans on real estate

The estimated fair value of the mortgage loan portfolio is primarily based upon
the present value of the scheduled future cash flows discounted at the
appropriate U.S. Treasury rate, adjusted for the current market spread for a
similar quality mortgage.

Policy loans

The estimated fair value of policy loans is calculated using a discounted cash
flow model based upon current U.S. Treasury rates and historical loan
repayments.

Investment contracts

For guaranteed investment contracts, estimated fair values are derived by using
discounted projected cash flows based on interest rates being offered for
similar contracts, with maturities consistent with those remaining for the
contracts being valued. Estimated fair values for individual deferred annuities
are derived using the policyholder's account balance.

Derivative financial instruments

The fair value of futures is estimated based on market quotes for transactions
with similar terms.

The following table discloses the carrying amounts and estimated fair values of
the Company's financial instruments at December 31:

<TABLE>
<CAPTION>


                                                      1999                                   1998
                                           ----------------------------------     --------------------------------
                                             Carrying          Estimated            Carrying        Estimated
                                              Value           Fair Value             Value         Fair Value

                                           ----------------  ----------------     --------------- ----------------
                                                                      (In Thousands)
<S>                                        <C>               <C>                  <C>              <C>
Financial Assets:
     Fixed maturities:  Available for sale    $2,998,362        $2,998,362          $2,763,926       $2,763,926
     Fixed maturities:  Held to maturity         388,990           377,822             410,558          421,845
     Equity securities                             4,532             4,532               2,847            2,847
     Mortgage loans on real estate                10,509            11,550              17,354           19,465
     Policy loans                                792,352           761,232             766,917          806,099
     Short-term investments                      207,219           207,219             240,727          240,727
     Cash                                         76,396            76,396              89,679           89,679
     Separate Account assets                  16,032,449        16,032,449          11,490,751       11,490,751
     Derivatives                                      38                38                   -                -

Financial Liabilities:
     Investment contracts                     $1,282,964        $1,277,317           $ 835,034        $ 839,105
     Cash collateral for loaned securities        87,336            87,336              73,336           73,336
     Securities sold under repurchase
        agreements                                21,151            21,151              49,708           49,708
     Separate Account liabilities             16,032,449        16,032,449          11,490,751       11,490,751
     Derivatives                                   5,012             5,243               1,723            2,374
</TABLE>


                                      B19
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


11.  DERIVATIVE AND OFF-BALANCE SHEET CREDIT-RELATED INSTRUMENTS

Futures & Options

The Company uses exchange-traded Treasury futures and options to reduce market
risk from changes in interest rates and to manage the duration of assets and the
duration of liabilities supported by those assets. The Company enters into
exchange-traded futures and options with regulated futures commissions merchants
who are members of a trading exchange. The fair value of futures and options is
estimated based on market quotes for a transaction with similar terms.

Under exchange-traded futures, the Company agrees to purchase a specified number
of contracts with other parties and to post variation margin on a daily basis in
an amount equal to the difference in the daily market values of those contracts.
Treasury futures move substantially in value as interest rates change and can be
used to either modify or hedge existing interest rate risk. This strategy
protects against the risk that cash flow requirements may necessitate
liquidation of investments at unfavorable prices resulting from increases in
interest rates. This strategy can be a more cost effective way of temporarily
reducing the Company's exposure to a market decline than selling fixed income
securities and purchasing a similar portfolio when such a decline is believed to
be over.

If futures meet hedge accounting criteria, changes in their fair value are
deferred and recognized as an adjustment to the carrying value of the hedged
item. Deferred gains or losses from the hedges for interest-bearing financial
instruments are amortized as a yield adjustment over the remaining lives of the
hedged item. Futures that do not qualify as hedges are carried at fair value
with changes in value reported in current period earnings. The notional value of
futures contracts was $122.1 million and $40.8 million at December 31, 1999 and
1998, respectively. The fair value of futures contracts was $(2.0) million at
December 31, 1999 and immaterial at December 31, 1998.

When the Company anticipates a significant decline in the stock market which
will correspondingly affect its diversified portfolio, it may purchase put index
options where the basket of securities in the index is appropriate to provide a
hedge against a decrease in the value of the equity portfolio or a portion
thereof. This strategy effects an orderly sale of hedged securities. When the
Company has large cash flows which it has allocated for investment in equity
securities, it may purchase call index options as a temporary hedge against an
increase in the price of the securities it intends to purchase. This hedge
permits such investment transactions to be executed with the least possible
adverse market impact.

Option premium paid or received is reported as an asset or liability and
amortized into income over the life of the option. If options meet the criteria
for hedge accounting, changes in their fair value are deferred and recognized as
an adjustment to the hedged item. Deferred gains or losses from the hedges for
interest-bearing financial instruments are recognized as an adjustment to
interest income or expense of the hedged item. If the options do not meet the
criteria for hedge accounting, they are fair valued, with changes in fair value
reported in current period earnings. The fair value of options was immaterial at
December 31, 1999 and 1998.

Currency Derivatives

The Company uses currency swaps to reduce market risk from changes in currency
values of investments denominated in foreign currencies that the Company either
holds or intends to acquire and to manage the currency exposures arising from
mismatches between such foreign currencies and the US Dollar.

Under currency swaps, the Company agrees with other parties to exchange, at
specified intervals, the difference between one currency and another at a
forward exchange rate and calculated by reference to an agreed principal amount.
Generally, the principal amount of each currency is exchanged at the beginning
and termination of the currency swap by each party. These transactions are
entered into pursuant to master agreements that provide for a single net payment
to be made by one counterparty for payments made in the same currency at each
due date.

If currency swaps are effective as hedges of foreign currency translation and
transaction exposures, gains or losses are recorded in "Accumulated Other
Comprehensive Income". If currency swaps do not meet hedge accounting criteria,
gains or losses from those derivatives are recognized in current period
earnings.

The notional value and fair value of the currency swaps $31.0 million and $(3.2)
million and $40.5 million and $(2.3) million, respectively, at December 31, 1999
and 1998.



                                      B20
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


11.  DERIVATIVE AND OFF-BALANCE SHEET CREDIT-RELATED INSTRUMENTS (continued)

Credit Risk

The current credit exposure of the Company's derivative contracts is limited to
the fair value at the reporting date. Credit risk is managed by entering into
transactions with creditworthy counterparties and obtaining collateral where
appropriate and customary. The Company also attempts to minimize its exposure to
credit risk through the use of various credit monitoring techniques. All of the
net credit exposure for the Company from derivative contracts are with
investment grade counterparties. As of December 31, 1999, 80% of notional
consisted of interest rate derivatives, and 20% of notional consisted of foreign
currency derivatives.

12.  CONTINGENCIES

Various lawsuits against the Company have arisen in the course of the Company's
business. In certain of these matters, large and/or indeterminate amounts are
sought.

On October 28, 1996, the Company entered into a Stipulation of Settlement with
attorneys for the plaintiffs in a consolidated class action lawsuit pending in a
Multi-District Litigation proceeding in the U.S. District Court for the District
of New Jersey. The class action suit involved alleged improprieties in
connection with the sale, servicing and operation of permanent life insurance
policies from 1982 through 1995. Pursuant to the settlement, the Company has
participated in a remediation program pursuant to which relief was offered to
policyowners who were misled when they purchased permanent life insurance
policies in the United States from 1982 to 1995. Prudential has agreed to
indemnify the Company for any liability incurred in connection with that
litigation.

The balance of the Company's litigation is subject to many uncertainties, and
given the complexity and scope, the outcomes cannot be predicted with precision.
Management believes that any ultimate liability which could result from such
litigation would not have a material adverse effect on the Company's financial
position.

13.  DIVIDENDS

The Company is subject to Arizona law which limits the amount of dividends that
insurance companies can pay to stockholders. The maximum dividend which may be
paid in any twelve month period without notification or approval is limited to
the lesser of 10% of statutory surplus as of December 31 of the preceding year
or the net gain from operations of the preceding calendar year. Cash dividends
may only be paid out of surplus derived from realized net profits. Based on
these limitations and the Company's surplus position at December 31, 1999, the
Company would not be permitted a non-extraordinary dividend distribution in
2000.

14.  RELATED PARTY TRANSACTIONS

Service Agreements
Prudential and the Company operate under service and lease agreements whereby
services of officers and employees (except for those agents employed directly by
the Company in Taiwan), supplies, use of equipment and office space are provided
by Prudential. Prudential periodically reviews its methods for determining the
level of administrative expenses charged to the Company. Late in 1998,
Prudential revised its allocation methodology to more closely align allocations
based on business processes, resulting in increased allocations from 1998
levels. Management believes that the updated methodology is reasonable and
better reflects actual costs incurred by Prudential to process transactions on
behalf of the Company. The net cost of these services allocated to the Company
were $317.4 million, $269.9 million and $139.5 million for the years ended
December 31, 1999, 1998, and 1997, respectively.

In addition, the Company received allocated distribution expenses from
Prudential's retail agency network. Beginning in 1999, market based distribution
transfer pricing was the basis for allocating costs to each product line that
distributes products through Prudential's retail agency channels. A majority of
these distribution expenses have been capitalized by the Company as deferred
policy acquisition costs ("DAC").

The Company receives asset management fee income from policyholder account
balances invested in the Prudential Series Fund ("PSF"). These amounts are shown
as asset management fees on the statement of operations. The Company also
collects these fees on behalf of Prudential. The amounts due to Prudential
related to PSF fees were $0.1 million and $22.6 million at December 31, 1999 and
December 31, 1998, respectively.


                                      B21
<PAGE>
Pruco Life Insurance Company and Subsidiaries

Notes to Consolidated Financial Statements
- --------------------------------------------------------------------------------


14.  RELATED PARTY TRANSACTIONS (continued)

The Company pays an asset management fee to Prudential Global Asset Management
("PGAM") for managing the Separate Account investment portfolio. The expense for
the year was $25.9 million, which is shown in general, administrative and other
expenses.

The Company has sold three Corporate Owned Life Insurance ("COLI") policies to
Prudential. The cash surrender value included in Separate Accounts was $725.3
million and $362.3 million at December 31, 1999, and 1998, respectively. The
fees received in 1999 related to the COLI policies were $4.0 million.

Reinsurance

The Company currently has three reinsurance agreements in place with Prudential
(the reinsurer). Specifically a reinsurance Group Annuity Contract, whereby the
reinsurer, in consideration for a single premium payment by the Company,
provides reinsurance equal to 100% of all payments due under the contract, and
two yearly renewable term agreements in which the Company may offer and the
reinsurer may accept reinsurance on any life in excess of the Company's maximum
limit of retention. The Company is not relieved of its primary obligation to the
policyholder as a result of these reinsurance transactions. These agreements had
no material effect on net income for the years ended December 31, 1999, 1998,
and 1997.

Debt Agreements

In July 1998, the Company established a revolving line of credit facility of up
to $500 million with Prudential Funding Corporation, a wholly owned subsidiary
of Prudential. There is no outstanding debt relating to this credit facility as
of December 31, 1999.


                                      B22
<PAGE>




                        Report of Independent Accountants

   To the Board of Directors and Stockholder of
   Pruco Life Insurance Company

   In our opinion, the accompanying consolidated statements of financial
   position and the related consolidated statements of operations, of changes in
   stockholder's equity and of cash flows present fairly, in all material
   respects, the financial position of Pruco Life Insurance Company (a
   wholly-owned subsidiary of the Prudential Insurance Company of America) and
   its subsidiaries at December 31, 1999 and 1998, and the results of their
   operations and their cash flows for each of the three years in the period
   ended December 31, 1999, in conformity with accounting principles generally
   accepted in the United States. These financial statements are the
   responsibility of the Company's management; our responsibility is to express
   an opinion on these financial statements based on our audits. We conducted
   our audits of these statements in accordance with auditing standards
   generally accepted in the United States which require that we plan and
   perform the audit to obtain reasonable assurance about whether the financial
   statements are free of material misstatement. An audit includes examining, on
   a test basis, evidence supporting the amounts and disclosures in the
   financial statements, assessing the accounting principles used and
   significant estimates made by management, and evaluating the overall
   financial statement presentation. We believe that our audits provide a
   reasonable basis for the opinion expressed above.

   PricewaterhouseCoopers LLP
   New York, New York
   March 21, 2000


                                      B23




<PAGE>


                                                         DISCOVERY |
                                                             LIFE  |LOGO
                                                            PLUS   |



                      SINGLE PREMIUM VARIABLE LIFE ACCOUNT
                        VARIABLE LIFE INSURANCE CONTRACTS


- --------------------------------------------------------------------------------
                                         =======================================



A Subsidiary of


Prudential LOGO

PRUCO LIFE INSURANCE COMPANY
213 Washington Street
Newark, New Jersey 07102-2992
Telephone: (888) PRU-2888



<PAGE>




                                     PART II

                                OTHER INFORMATION




<PAGE>


                           UNDERTAKING TO FILE REPORTS

Subject to the terms and conditions of Section 15(d) of the Securities Exchange
Act of 1934, the undersigned Registrant hereby undertakes to file with the
Securities and Exchange Commission such supplementary and periodic information,
documents, and reports as may be prescribed by any rule or regulation of the
Commission heretofore or hereafter duly adopted pursuant to authority conferred
in that section.

                     REPRESENTATION WITH RESPECT TO CHARGES

Pruco Life Insurance Company represents that the fees and charges deducted under
the variable life insurance contracts registered by this registration statement,
in the aggregate, are reasonable in relation to the services rendered, the
expenses expected to be incurred, and the risks assumed by Pruco Life Insurance
Company.

                   UNDERTAKING WITH RESPECT TO INDEMNIFICATION

The Registrant, in conjunction with certain affiliates, maintains insurance on
behalf of any person who is or was a trustee, director, officer, employee, or
agent of the Registrant, or who is or was serving at the request of the
Registrant as a trustee, director, officer, employee or agent of such other
affiliated trust or corporation, against any liability asserted against and
incurred by him or her arising out of his or her position with such trust or
corporation.


Arizona, being the state of organization of Pruco Life Insurance Company
("Pruco"), permits entities organized under its jurisdiction to indemnify
directors and officers with certain limitations. The relevant provisions of
Arizona law permitting indemnification can be found in Section 10-850 et seq. of
the Arizona Statues Annotated. The text of Pruco's By-law, Article VIII, which
relates to indemnification of officers and directors, is incorporated by
reference to Exhibit 3(ii) to its Form 10-Q filed August 15, 1997. Insofar as
indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to director, officers and controlling persons of the Registrant
pursuant to the foregoing provisions or otherwise, the Registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.



<PAGE>


                       CONTENTS OF REGISTRATION STATEMENT

This Registration Statement comprises the following papers and documents:

The facing sheet.
Cross-reference to items required by Form N-8B-2.


The prospectus consisting of 75 pages.


The undertaking to file reports.
The representation with respect to charges.
The undertaking with respect to indemnification.
The signatures.
Written consents of the following persons:

    1.  PricewaterhouseCoopers, LLP, independent accountants.
    2.  Clifford E. Kirsch, Esq.
    3   Ikwhan Oh, FSA, MAAA, actuarial expert.


The following exhibits:

    1.  The following exhibits correspond to those required by paragraph A of
        the instructions as to exhibits in Form N-8B-2:


        A.  (1) Resolution of Board of Directors of Pruco Life Insurance Company
            establishing the Pruco Life Single Premium Variable Life Account.
            (Note 7)


            (2) Not Applicable

            (3) Distribution Contracts:


                (a) Distribution Agreement between Pruco Securities Corporation
                    and Pruco Life Insurance Company. (Note 7)

                (b) Proposed form of Agreement between Pruco Securities
                    Corporation and independent brokers with respect to the Sale
                    of the Contracts. (Note 7)


                (c) Revised Schedule of Sales Commissions. (Note 1)

            (4) Not Applicable


            (5) (a)  Flexible Premium Variable Life Insurance Contract.
                (b)  Contract jacket for use in Georgia and Maryland. (Note 2)
                (c)  Contract data page for use in South Dakota. (Note 2)
                (d)  Contract data page for use in Minnesota. (Note 2)
                (e)  Contract page 5 for use in Colorado and North Dakota.
                     (Note 2)
                (f)  Contract page 6 for use in Colorado and North Dakota.
                     (Note 2)
                (g)  Contract page 7 for use in Missouri. (Note 2)
                (h)  Contract page 8 for use in Missouri. (Note 2)
                (i)  Contract page 7 for use in South Carolina. (Note 2)
                (j)  Contract page 7 for use in Oklahoma. (Note 2)
                (k)  Unisex Endorsement for use in Montana. (Note 2)
                (l)  Contract jacket for use in Pennsylvania. (Note 2)
                (m)  Contract jacket for use in Minnesota. (Note 2)
                (n)  Contract jacket for use in Texas. (Note 2)
                (o)  Contract jacket for use in Virginia. (Note 2)
                (p)  Contract page 5 for use in Massachusetts. (Note 2)
                (q)  Contract page 5 for use in Texas. (Note 2)
                (r)  Contract page 5 for use in Pennsylvania. (Note 2)
                (s)  Contract page 6 for use in Pennsylvania. (Note 2)
                (t)  Contract page 7 for use in Kentucky. (Note 2)
                (u)  Contract page 7 for use in Texas. (Note 2)
                (v)  Contract page 7 for use in Connecticut. (Note 2)
                (w)  Contract page 7 for use in Pennsylvania. (Note 2)
                (x)  Contract page 9 for use in Connecticut and Kentucky.
                     (Note 2)
                (y)  Contract page 9 for use in Texas. (Note 2)
                (z)  Contract page 11 for use in Massachusetts. (Note 2)
                (aa) Contract page 11 for use in Kentucky. (Note 2)
                (bb) Contract page 11 for use in Pennsylvania. (Note 2)
                (cc) Contract page 13 for use in Kentucky. (Note 2)



<PAGE>




                (dd) Contract page 19 for use in Pennsylvania. (Note 2)
                (ee) Contract jacket for use in Massachusetts. (Note 2)
                (ff) Contract Endorsement for use in California. (Note 2)
                (gg) Contract page 8 for use in Texas. (Note 2)
                (hh) Contract page 9 for use in Connecticut. (Note 2)
                (ii) Contract page 10 for use in Texas. (Note 2)
                (ji) Contract page 11 for use in Texas. (Note 2)
                (kk) Contract page 13 for use in Texas. (Note 2)
                (ll) Contract page 19 for use in Texas. (Note 2)
                (mm) Contract page 12 for use in Texas. (Note 2)
                (nn) Contract page 17 for use in Texas (Note 2)



            (6)

                (a) Articles of Incorporation of Pruco Life Insurance Company,
                    as amended October 19, 1993. (Note 9)


                (b) By-laws of Pruco Life Insurance Company, as amended May 6,
                    1997. (Note 4)


            (7) Not Applicable

            (8) Not Applicable

            (9) Not Applicable

            (10)


                (a) Application Form for Flexible Premium Variable Life
                    Insurance Contract. (Note 2)

                (b) Supplement to the Application for Flexible Premium Variable
                    Life Insurance Contract. (Note 2)

                (c) Supplement to the Application for Flexible Premium Variable
                    Life Insurance Contract. (Note 2)

            (11)  Revised Form of Notice of Withdrawal Right. (Note 2)

            (12)  Memorandum describing Pruco Life Insurance Company's issuance,
                  transfer, and redemption procedures for the Contracts pursuant
                  to Rule 6e-3(T)(b)(12)(ii) and method of computing cash
                  adjustment upon exercise of right to exchange for
                  fixed-benefit insurance pursuant to Rule 6e-3(T)
                  (b)(13)(v)(B). (Note 2)

            (13)
                (a) Living Needs Benefit Rider for use in Florida. (Note 2)

                (b) Living Needs Benefit Rider for use in all other approved
                    jurisdictions. (Note 2)


    2.  See Exhibit 1.A.(5).


    3.  Opinion and Consent of Clifford E. Kirsch, Esq., as to the legality of
        the securities being registered. (Note 1)


    4.  None.

    5.  Not Applicable.

    6.  Opinion and Consent of Ikwhan Oh, FSA, MAAA, as to actuarial matters
        pertaining to the securities being registered. (Note 1)

    7.  Powers of Attorney:


        (a) Esther H. Milnes, I. Edward Price, Ira J.
            Kleinman  (Note 3)

        (b) Kiyofumi Sakaguchi (Note 5)

        (c) James J. Avery, Jr. (Note 6)

        (d) Dennis G. Sullivan (Note 8)

        (e) David R. Odenath, Jr. (Note 10)




<PAGE>



(Note 1)  Filed herewith.


(Note 2)  Incorporated by reference to Post-Effective Amendment No. 23 to Form
          S-6, Registration No. 2-99260, filed April 29, 1999, on behalf of the
          Pruco Life Single Premium Variable Life Account.




(Note 3)  Incorporated by reference to Form 10-K, Registration No. 33-08698,
          filed March 31, 1997 on behalf of the Pruco Life Variable Contract
          Real Property Account.




(Note 4)  Incorporated by reference to Form 10-Q, Registration No. 33-37587,
          filed August 15, 1997, on behalf of the Pruco Life Insurance Company.

(Note 5)  Incorporated by reference to Post-Effective Amendment No. 8 to Form
          S-6, Registration No. 33-49994, filed April 28, 1997 on behalf of the
          Pruco Life PRUvider Variable Appreciable Account.

(Note 6)  Incorporated by reference to Post-Effective Amendment No. 2 to Form
          S-6, Registration No. 333-07451, filed June 25, 1997 on behalf of the
          Pruco Life Variable Appreciable Account.

(Note 7)  Incorporated by reference to Post-Effective Amendment No. 22 to this
          Registration Statement, filed April 27, 1998.

(Note 8)  Incorporated by reference to Post-Effective Amendment No. 6
          to Form S-1, Registration No. 33-86780, filed April 12, 1999 on behalf
          of the Pruco Life Variable Contract Real Property Account.

(Note 9)  Incorporated by reference to Form S-6, Registration No. 333-07451,
          filed July 2, 1996 on behalf of the Pruco Life Variable Appreciable
          Account.

(Note 10) Incorporated by reference to Post-Effective Amendment No. 7 to Form
          S-1, Registration No. 33-86780, filed April 12, 2000 on behalf of the
          Pruco Life Variable Contract Real Property Account.




<PAGE>

                                   SIGNATURES


     Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that this Amendment is filed solely for one or more of the purposes
specified in Rule 485(b)(1) under the Securities Act of 1933 and that no
material event requiring disclosure in the prospectus, other than one listed in
Rule 485(b)(1), has occurred since the effective date of the most recent
Post-Effective Amendment to the Registration Statement which included a
prospectus, and has caused this Registration Statement to be signed on its
behalf by the undersigned thereunto duly authorized, and its seal hereto affixed
and attested, all in the City of Newark and the State of New Jersey, on this
25th day of April, 2000.



(SEAL)           PRUCO LIFE SINGLE PREMIUM VARIABLE LIFE ACCOUNT

                                  (Registrant)

                        BY: PRUCO LIFE INSURANCE COMPANY

                                   (Depositor)

Attest: /s/ CLIFFORD E. KIRSCH                     By: /s/ ESTHER H. MILNES
        ---------------------------------              -----------------------
        CLIFFORD E. KIRSCH                             ESTHER H. MILNES
        CHIEF LEGAL OFFICER AND SECRETARY              PRESIDENT


       Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment No. 24 to the Registration Statement has been signed
below by the following persons in the capacities indicated on this 25th day of
April, 2000.



SIGNATURES                         TITLE
- ----------                         -----

 /s/  *                            President and Director         April 25,2000
- ----------------------------
      ESTHER H. MILNES


 /s/  *                            Vice President and Chief Accounting Officer
- ----------------------------       (Principal Financial and Chief Accounting
      DENNIS G. SULLIVAN           Officer)


 /s/  *                            Director
- ----------------------------
      JAMES J. AVERY, JR.



 /s/  *                            Director
- ----------------------------
      IRA J. KLEINMAN


 /s/  *                            Director
- ----------------------------
      DAVID R. ODENATH, JR.


 /s/  *                            Director          By: /s/ CLIFFORD E. KIRSCH
- ---------------------------                              -----------------------
      I. EDWARD PRICE                                      CLIFFORD E. KIRSCH
                                                           (Attorney-in-Fact)

 /s/  *                            Director
- ----------------------------
      KIYOFUMI SAKAGUCHI



<PAGE>


                                  EXHIBIT INDEX




3. Opinion and Consent of Clifford E. Kirsch, Esq., as to the legality of the
securities being registered.

6. Opinion and Consent of Ikwhan Oh, FSA, MAAA, as to actuarial matters
pertaining to the securities being registered.


24. Consent of PricewaterhouseCoopers LLP, independent accountants.






                                    CLIFFORD E. KIRSCH
                                    Chief Legal Officer


                                    PRUCO LIFE INSURANCE COMPANY
 [LOGO]                             213 Washington Street, Newark, NJ 07102-2992
                                    201 802-7333 Fax: 201 802-8357


                                                                  April 24, 2000


Pruco Life Insurance Company
213 Washington Street
Newark, New Jersey 07102-2992

Gentlemen:

In my capacity as Chief Legal Officer and Secretary of Pruco Life Insurance
Company ("Pruco Life"), I have reviewed the establishment of Pruco Life Single
Premium Variable Life Account (the "Account") on April 15, 1985 by the Executive
Committee of the Board of Directors of Pruco Life as a separate account for
assets applicable to certain single premium variable life insurance contracts,
pursuant to the provisions of Section 20-651 of the Arizona Insurance Code. I
was responsible for oversight of the preparation and review of the Registration
Statement on Form S-6, as amended, filed by Pruco Life with the Securities and
Exchange Commission (Registration Number 2-99260) under the Securities Act of
1933 for the registration of certain single premium variable life insurance
contracts issued with respect to the Account.

I am of the following opinion:

     (1)  Pruco Life was duly organized under the laws of Arizona and is a
          validly existing corporation.

     (2)  The  Account  has been  duly  created  and is  validly  existing  as a
          separate  account  pursuant to the aforesaid  provisions of New Jersey
          law.

     (3)  The portion of the assets held in the Account equal to the reserve and
          other  liabilities  for  variable  benefits  under the single  premium
          variable life insurance  contracts is not chargeable with  liabilities
          arising out of any other business Pruco Life may conduct.

     (4)  The single  premium  variable life  insurance  contracts are legal and
          binding obligations of Pruco Life, in accordance with their terms.

In arriving at the foregoing opinion, I have made such examination of law and
examined such records and other documents as I judged to be necessary or
appropriate.

I hereby consent to the filing of this opinion as an exhibit to the Registration
Statement.


Very truly yours,


/s/ CLIFFORD E. KIRSCH
- ----------------------------
    Clifford E. Kirsch, Esq.


                                      II-




[LOGO]


                                       IKWAHN OH, FSA, MAAA
                                       Vice President & Actuary


                                       Pruco Life Insurance Company
                                       71 Hanover Road
                                       Florham Park, NJ 07932-1597
                                       Tel (973) 966-3243


                                       EXHIBIT 6

                                       April 24, 2000


Pruco Life Insurance Company
213 Washington Street
Newark, NJ 07102-2992


To Pruco Life Insurance Company:

This opinion is furnished in connection with the registration by Pruco Life
Insurance Company of single premium variable life insurance contracts
("Contracts") under the Securities Act of 1933. The prospectus included in
Post-Effective Amendment No. 24 to Registration Statement No. 2-99260 on form
S-6 describes the Contract. I have reviewed the Contract form and I have
participated in the preparation and review of the Registration Statement and
Exhibits thereto. In my opinion:

     (1)  The illustrations of face amounts of insurance included in the section
          entitled "Some typical face amounts" ("Amount of Life Insurance"),
          based on the assumptions stated in the illustrations, are consistent
          with the provisions of the Contract.

     (2)  The illustrations of death benefits included in the section entitled
          "Increase in death benefit due to favorable investment experience"
          ("Amount of Life Insurance"), based on the assumptions stated in the
          illustrations, are consistent with the provisions of the contract.

     (3)  The illustrations of cash surrender values and death benefits included
          in the section entitled "Illustrations", based on the assumptions
          stated in the illustrations, are consistent with the provisions of the
          Contract. The rate structure of the Contract has not been designed so
          as to make the relationship between the premium and benefits, as shown
          in the illustrations, appear more favorable to a prospective purchaser
          of a Contract for male age 35 or female age 55, than to prospective
          purchasers of Contracts on insureds of other ages.

I hereby consent to the use of this opinion as an exhibit to the Registration
Statement and to the reference to my name under the heading "Experts" in the
prospectus.


Very truly yours,


/s/ IKWAHN OH
- ---------------------------------
    Ikwahn OH, FSA, MAAA
    Vice President & Actuary
    Pruco Life Insurance Company


                                      II-




                       CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the use in the Prospectus constituting part of this
Post-Effective Amendment No. 24 to the registration statement on Form S-6 (the
"Registration Statement") of our report dated March 17, 2000, relating to the
financial statements of the Pruco Life Single Premium Variable Life Account,
which appears in such Prospectus.

We also consent to the use in the Prospectus constituting part of this
Registration Statement of our report dated March 21, 2000, relating to the
consolidated financial statements of Pruco Life Insurance Company and its
subsidiaries, which appears in such Prospectus.

We also consent to the reference to us under the heading "Experts" in the
Prospectus.


/s/ PricewaterhouseCoopers LLP
- -----------------------------------


New York, New York
April 24, 2000




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