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Prudential Municipal Series Fund
(Arizona Series)
(Georgia Series)
(Minnesota Series)
Supplement dated August 3, 1995
to Prospectuses dated December 30, 1994
The Trustees of Prudential Municipal Series Fund (the Fund) have recently
approved a proposal to exchange the assets and liabilities of the Arizona
Series, Georgia Series and Minnesota Series (each, a Series, and collectively,
the Series) of the Fund for shares of Prudential National Municipals Fund, Inc.
(National Municipals Fund). Class A, Class B and Class C shares of the Fund
would be exchanged at relative net asset value for Class A, Class B and Class C
shares, respectively, of National Municipals Fund.
The transfer has been approved by the Trustees of the Fund and by the Board
of Directors of National Municipals Fund and is subject to approval by the
shareholders of each of the Series. It is anticipated that a proxy
statement/prospectus relating to the transaction will be mailed to each Series'
shareholders in or about early September 1995.
Under the terms of the proposal, shareholders of each Series of the Fund
would become shareholders of National Municipals Fund. No sales charges would
be imposed on the proposed transfer. The Fund anticipates obtaining an
opinion of its counsel that no gain or loss for federal income tax purposes
would be recognized by shareholders of the Series as a result of the proposed
transaction.
Effective immediately, the Fund will no longer accept orders to purchase or
exchange into shares of the Series. Existing shareholders may continue to
acquire shares through dividend reinvestment. The current exchange privilege of
obtaining shares of other Prudential Mutual Funds and the current redemption
privilege will remain in effect until the transaction is consummated.
National Municipals Fund's investment objective is to seek a high level of
current income exempt from federal income taxes.
MF 950C-8
