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Prudential Municipal Series Fund
Supplement dated March 5, 1999
The following replaces the fifth paragraph under "How the Fund is
Managed--Manager"
The Subadviser's fixed income group is organized by teams that specialize by
sector. The Fixed Income Investment Policy Committee, which is comprised of
senior investment staff from each sector team, provides guidance to the teams
regarding duration risk, asset allocations and general risk parameters. The
portfolio manager contributes bottom-up securities selection within those
guidelines and is responsible for the day-to-day management of the Series.
The following is added after the foregoing paragraph for the respective
Series identified below:
Florida Series
James M. Murphy has been the portfolio manager for the Series since March
1999. Mr. Murphy has been employed by the Subadviser in various capacities since
1989.
New Jersey Series
Scott Diamond co-managed the Series from 1997 until March 1999, when he
became the Series' sole portfolio manager. Mr. Diamond has been employed by the
Subadviser in various capacities since 1993.
North Carolina Series
Scott Diamond has been the portfolio manager for the Series since March
1999. Mr. Diamond has been employed by the Subadviser in various capacities
since 1993.
Ohio Series
Scott Diamond has been the portfolio manager for the Series since March
1999. Mr. Diamond has been employed by the Subadviser in various capacities
since 1993.
Pennsylvania Series
James M. Murphy has been the portfolio manager for the Series since March
1999. Mr. Murphy has been employed by the Subadviser in various capacities since
1989.
* * *
Listed below are the names of the Series and the dates of the Prospectuses
to which this supplement relates.
Name of Series Prospectus Date
- ---------------------- ------------------
Florida Series November 2, 1998
New Jersey Series November 2, 1998
North Carolina Series November 2, 1998
Ohio Series November 2, 1998
Pennsylvania Series November 2, 1998
MF990C-2
