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Prudential Mutual Funds
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Prudential Structured Maturity Fund, Inc.
Income Portfolio (the Fund)
SUPPLEMENT DATED FEBRUARY 18, 2000
TO PROSPECTUS DATED MARCH 1, 1999
As described in the Fund's current prospectus, the Fund currently structures
its holdings using a 'laddered' maturity approach. The Fund holds six annual
maturity categories of debt obligations with maturities ranging from one year or
less to between five and six years. Each maturity category makes up
approximately one-sixth of the Fund's assets. At a meeting on February 7, 2000,
the Fund's Board of Directors approved the elimination of the 'laddered'
approach, effective as of May 2000. The Prudential Investment Corporation, doing
business as Prudential Investments (the Investment Adviser), has indicated that
to implement this change it will no longer adhere to the six annual maturities
categories in structuring the Fund's holdings, and will instead determine the
Fund's portfolio holdings based on prevailing market conditions. The Investment
Adviser has indicated that the Fund will continue to limit its holdings to
securities with maturities of no more than six years, and that the Fund's
dollar-weighted average portfolio maturity will generally remain between 2 1/2
and 3 1/3 years. The Board also approved a change in the name of the Fund to
'Prudential Short-Term Corporate Bond Fund, Inc.', effective as of May 2000.
The Fund's other material investment strategies and policies will not be
affected by the changes described above.
MF140C2
