For Ohio Residents Only
Prudential Municipal Series Fund
(Hawaii Income Series)
Supplement dated September 19, 1994
Prospectus dated September 19, 1994
The Series is non-diversified and can invest a greater percentage of its
assets in the securities of a single issuer than a diversified Series.
Investment in the Series may therefore include a greater risk to the investor
in that the loss from the default of a single issuer may represent a greater
portion of the total assets of the Series' portfolio. This investment policy
does not comply with subparagraph (7) of Rule 1301:6-3-09(E) of the Ohio
Administrative Code.
Illiquid Securities
As described on page 10, the Series is permitted to invest up to 15% of
its net assets in illiquid securities including securities with legal or
contractual restrictions on resale (restricted securities). Restricted
securities eligible for resale under Rule 144A of the Securities Act of 1933
are excluded from this 15% limitation provided they have a readily available
market. The State of Ohio generally prohibits an investment company from
investing more than 15% in securities which are restricted as to disposition
(including Rule 144A securities), unless special notice is provided to
investors. In accordance with Ohio regulations, the Series is permitted to
invest in securities which are restricted as to disposition including
restricted securities eligible for resale under Rule 144A of the Securities
Act of 1933 in an amount not more than 50% of the total assets of the Series.
MF 165C-1
