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<PAGE> PAGE 2
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SIGNATURE GRACE TORRES
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK>
<NAME>THE PRUDENTIAL INSTITUTIONAL LIQUIDITY PORTFOLIO
<SERIES>
<NUMBER>001
<NAME>PRUDENTIAL INSTITUTIONAL LIQUIDITY PORTFOLIO CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> SEPT-30-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 1,964,566,229
<RECEIVABLES> 12,170,858
<ASSETS-OTHER> 17,508
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<TOTAL-ASSETS> 1,976,754,595
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<PAID-IN-CAPITAL-COMMON> 1,973,496,826
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<NET-INVESTMENT-INCOME> 106,497,171
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<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-REDEEMED> (17,260,023,101)
<SHARES-REINVESTED> 90,454,251
<NET-CHANGE-IN-ASSETS> (137,899,365)
<ACCUMULATED-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 4,020,175
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,272,521
<AVERAGE-NET-ASSETS> 366,127,000
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.053
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<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.05)
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<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.20
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE>6
<CIK>
<NAME>THE PRUDENTIAL INSTITUTIONAL LIQUIDITY PORTFOLIO
<SERIES>
<NUMBER>004
<NAME>PRUDENTIAL INSTITUTIONAL LIQUIDITY PORTFOLIO CLASS I
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<PERIOD-END> SEPT-30-2000
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<NET-CHANGE-IN-ASSETS> (137,899,365)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,272,521
<AVERAGE-NET-ASSETS> 1,643,981,000
<PER-SHARE-NAV-BEGIN> 1
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<PER-SHARE-GAIN-APPREC> 0
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</TABLE>
[ARTICLE]6
[CIK]
[NAME]THE PRUDENTIAL INSTITUTIONAL LIQUIDITY PORTFOLIO
[SERIES]
[NUMBER]004
[NAME]PRUDENTIAL INSTITUTIONAL LIQUIDITY PORTFOLIO CLASS I
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] MAR-31-2000
[PERIOD-END] SEPT-30-2000
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 1,964,566,229
[RECEIVABLES] 12,170,858
[ASSETS-OTHER] 17,508
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,976,754,595
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 3,257,769
[TOTAL-LIABILITIES] 3,257,769
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,973,496,826
[SHARES-COMMON-STOCK] 1,977,517,026
[SHARES-COMMON-PRIOR] 1,669,751,748
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 1,973,496,826
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 109,695,175
[OTHER-INCOME] 0
[EXPENSES-NET] 3,198,004
[NET-INVESTMENT-INCOME] 106,497,171
[REALIZED-GAINS-CURRENT] (2,643)
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 106,494,528
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] (106,494,795)
[NUMBER-OF-SHARES-SOLD] 17,031,669,752
[NUMBER-OF-SHARES-REDEEMED] (17,260,023,101)
[SHARES-REINVESTED] 90,454,251
[NET-CHANGE-IN-ASSETS] (137,899,365)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 4,020,175
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,272,521
[AVERAGE-NET-ASSETS] 1,643,981,000
[PER-SHARE-NAV-BEGIN] 1
[PER-SHARE-NII] 0.053
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] (0.053)
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1
[EXPENSE-RATIO] 0
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
Report of Independent Accountants
To the Shareholders and Board of Directors of
Prudential Institutional Liquidity Portfolio, Inc.
In planning and performing our audit of the financial statements of Prudential
Institutional Liquidity Portfolio, Inc. (the "Fund"), for the period ended March
31, 2000, we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on internal
control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments
by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's
objective of preparing financial statements for external purposes that are
fairly
presented in conformity with generally accepted accounting principles. Those
controls include the safeguarding of assets against unauthorized acquisition,
use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that controls may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that
would
be material in relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
March 31, 2000.
This report is intended solely for the information and use of the Board of
Directors, management and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone other than these specified
parties.
PricewaterhouseCoopers LLP
May 19, 2000
To the Shareholders and Board of Directors of
Prudential Institutional Liquidity Portfolio, Inc.
(2)
