PRUDENTIAL GLOBAL LIMITED MATURITY FUND INC, N-30D, 1999-07-07

PRUDENTIAL GLOBAL LIMITED MATURITY FUND INC
N-30D, 1999-07-07

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<PAGE>

(ICON)

Prudential
Global
Limited
Maturity
Fund, Inc.
- -------------------------------
Limited Maturity
Portfolio

SEMI
ANNUAL
REPORT
April 30, 1999

(LOGO)

<PAGE>
Prudential Global Limited Maturity Fund, Inc.
Limited Maturity Portfolio

Performance At A Glance
As a global financial crisis faded during the six months ended
April 30, 1999, many investors sold conservative securities,
such as U.S. Treasuries, and purchased emerging market bonds
and other higher-yielding assets. Although we adopted this
strategy in the Prudential Global Limited Maturity Fund--Limited
Maturity Portfolio, the Fund's still sizable exposure to
Treasuries hurt its performance. The Fund is also restricted
to owning short- and intermediate-term debt securities, while
the Lipper Average primarily includes funds that also invest
in longer-term bonds. Among European and emerging market bonds,
longer-term bonds rallied the most. Therefore, the Fund's
returns trailed the Lipper Average for the six months.

<TABLE>
Cumulative Total Returns1 As of 4/30/99
<CAPTION>
Six One Five Since
Months Year Years Inception2
<S> <C> <C> <C> <C>
Class A 1.12% -0.11% 27.31% 51.05%
Class B 0.84 -0.68 23.93 42.75
Class C 0.84 -0.68 N/A 27.13
Class Z 1.09 -0.05 N/A 8.10
Lipper Global Inc. Fund Avg.3 1.48 2.49 38.07 ***
</TABLE>

<TABLE>
Average Annual Total Returns1 As of 3/31/99
<CAPTION>
One Five Since
Year Years Inception2
<S> <C> <C> <C>
Class A -3.48% 4.29% 4.54%
Class B -3.95 4.36 4.22
Class C -2.94 N/A 4.88
Class Z -0.19 N/A 3.30
</TABLE>

<TABLE>
Distributions andYields As of 4/30/99
<CAPTION>
Total Distributions 30-Day
Paid for Six Mos. SEC Yield
<S> <C> <C>
Class A $0.27 4.76%
Class B $0.25 4.41
Class C $0.25 4.37
Class Z $0.28 5.17
</TABLE>

Past performance is not indicative of future results. Principal and
investment return will fluctuate so that an investor's shares, when
redeemed, may be worth more or less than their original cost.

1 Source: Prudential Investments Fund Management and Lipper, Inc.
The cumulative total returns do not take into account sales charges.
The average annual total returns do take into account applicable
sales charges. The Fund charges a maximum front-end sales charge
of 3% for Class A shares. Class B shares are subject to a declining
contingent deferred sales charge (CDSC) of 3%, 2%, 1% and 1% for
four years. Class B shares will automatically convert to Class A
shares, on a quarterly basis, approximately five years after
purchase. Class C shares are subject to a front-end sales charge
of 1% and a CDSC of 1% for 18 months. Class C shares bought before
November 2, 1998, have a 1% CDSC if sold within one year. Class Z
shares are not subject to a sales charge or distribution fee.

2 Inception dates: Class A and Class B, 11/1/90; Class C, 8/1/94; Class
Z, 1/27/97.

3 Lipper average returns are for all funds in each share class
for the six-month, one-, and five-year periods in the Global
Income Fund category.

***Lipper Since Inception returns are 76.98% for Class A and
Class B, 39.45% for Class C, and 10.10% for Class Z based on
all funds in each share class.

How Investments Compared
(As of 4/30/99)
(GRAPH)

Source: Lipper, Inc. Financial markets change, so a mutual
fund's past performance should never be used to predict future
results. The risks to each of the investments listed
above are different--we provide 12-month total returns for
several Lipper mutual fund categories to show you that reaching
for higher returns means tolerating more risk. The greater the
risk, the larger the potential reward or loss. In addition,
we've included historical 20-year average annual returns.
These returns assume the reinvestment of dividends.

U.S. Growth Funds will fluctuate a great deal. Investors
have received higher historical total returns from stocks
than from most other investments. Smaller capitalization
stocks offer greater potential for long-term growth, but
may be more volatile than larger capitalization stocks.

General Bond Funds provide more income than stock funds,
which can help smooth out their total returns year by year.
But their prices still fluctuate (sometimes significantly),
and their returns have been historically lower than those of
stock funds.

General Municipal Debt Funds invest in bonds issued by state
governments, state agencies and/or municipalities. This
investment provides income that is usually exempt from
federal and state income taxes.

U.S. Taxable Money Funds attempt to preserve a constant
share value; they don't fluctuate much in price but,
historically, their returns have been generally among
the lowest of the major investment categories.

<PAGE>

Portfolio Managers' Report

(PHOTO)
Simon Wells and Gabriel Irwin
Fund Managers

Investment Goals and Style
The Fund seeks total return by investing primarily
in debt securities denominated in the U.S. dollar and
a range of foreign currencies. The Fund's weighted
average maturity ranges from more than two to less
than five years, with each security generally maturing
in no more than 10 years. The Fund may
invest up to 20% of its total investments in securities
rated below investment grade, but with a minimum rating
of single-B by Moody's Investors Service, Standard & Poor's
Ratings Service, or another nationally recognized credit-rating
organization. The Fund is nondiversified, meaning it may invest
more than 5% of its total assets in the securities of one or
more issuers. This carries greater risk and greater share
price volatility than investments held in a more diversified
portfolio.

Performance Review
Market sentiment shifted in favor of higher-yielding bonds
When our reporting period began in November 1998, a dramatic
shift in market sentiment was under way. Many investors who
had previously purchased the safest government securities,
such as U.S. Treasuries, began to sell them and buy corporate
bonds, emerging market bonds, and other higher-yielding assets.
This change occurred largely because the Federal Reserve took
steps to prevent a global financial crisis from causing a
recession in the United States that could have harmed the
fragile world economy. The Federal Reserve cut the Federal
funds rate (the rate U.S. banks charge each other for
overnight loans) by a quarter percentage point on September
29, October 15, and November 17, leaving the key rate at 4.75%.
Reducing rates stimulates economic growth by lowering borrowing
costs. Reassured by the Federal Reserve's effort to protect the
U.S. economy, financial markets calmed down,
and many investors saw less need to own conservative assets
such as Treasuries.

Owning Treasuries hurt our performance
As 1998 drew to a close, concern about a potential recession
in the United States was replaced by fears that the economy
was growing rapidly enough to ignite higher inflation.
Investors dislike inflation because it erodes the value
of a bond's fixed interest payments. Investors therefore
typically push bond yields higher and prices lower in order
to compensate for an anticipated rise in inflation. Under
this scenario, we expected the sell-off in Treasuries to
continue--and it did. We cut Treasuries from 19.5% of the
Fund's total investments as of October 31, 1998 to 11.8%
as of April 30, 1999 primarily by selling
Treasury notes maturing in eight years. Trimming
Treasuries helped to lower the Fund's duration from 3.9
years to 3.3 years. Duration is a measure of the Fund's
sensitivity to changes in interest rates. The shorter
duration made the Fund less sensitive to the rise in
Treasury yields and the decline in their prices.
Nevertheless, the Fund's still considerable exposure
to Treasuries and the bonds of other dollar-bloc nations
(Canada, Australia, and New Zealand) hurt its performance.

Merger Proposal
The Directors have approved a proposal to merge the Fund
into The Global Total Return Fund, Inc., which is also
managed by Gabriel Irwin and Simon Wells. The proposal
will have to be approved by a shareholder proxy
vote in July 1999. If approved, the merger is set to
occur in September 1999.

<PAGE>

Buying emerging market bonds helped the Fund
In contrast to the dismal performance of Treasuries, prices
of emerging market bonds climbed, helped by positive
developments in Brazil. After the Brazilian currency, the
real, was devalued in January 1999, the nation's government
acted quickly to regain the confidence of global investors.
It cut spending, raised taxes, and appointed a new central bank
president who lowered interest rates as the value of the
real stabilized. Encouraged by these moves, investor demand
increased for Brazilian debt securities and other emerging
market bonds. A portion of our proceeds from selling Treasuries was
invested in the government bonds of emerging market nations
such as Argentina, Panama, and Venezuela, some of which were
denominated in U.S. dollars. We also bought bonds of
Corporacion Andina de Formento, a supranational entity.
Increasing exposure to emerging market bonds from 17.25%
of the Fund's total investments as of October 31, 1998 to
22% at the end of April 1999 helped its performance.

Similarly, the Fund benefited from owning government bonds of
Germany and several other European nations (35.7% of its total
investments as of the end of April 1999). Their prices rose
amid lackluster economic growth and continued low inflation.
Among emerging market and European debt securities, long-term
bonds posted the sharpest price increases. Because the Fund
is generally limited to holding bonds maturing in 10 years
or less, it failed to reap the full benefit of this rally.

Looking Ahead
European bonds favored over Treasuries
In the first four months of 1999, the new European single
currency, the euro, lost more than 9% against the U.S. dollar.
This trend reflected concern about the Kosovo conflict and
the superior performance of the U.S. economy relative to
that of Europe. U.S. economic growth has remained
so strong that the Federal Reserve is considering
increasing short-term rates due to concern about the
potential buildup of inflation. By contrast, the
combination of sluggish economic growth and tame
inflation in the 11-nation euro currency zone
continues to bode well for its bonds. That is why
we will continue to favor European government bonds
over Treasuries in coming months. We believe European
economic growth will begin to rebound as the weak euro
has made the region's exports more competitive.

Five Largest Issuers
Expressed as a percentage of net assets as of 4/30/99

U.S. Treasury Bonds 11.8%
Danish Government Bonds 6.7
Queensland Treasury Corp. 5.1
German Government Bonds 4.1
Federal National Mortgage 3.2
Association (AUD)

1
<PAGE>

A Message to Our Shareholders June 18, 1999

(PHOTO)

Dear Shareholder:

In the last couple of years, the recurring possibility
of a global economic crisis caused investors to focus on
securities they perceived to be safe. In the equity market,
they focused on the stocks of a handful of very large
companies that were perceived to be well-buffeted from
an economic slowdown. These stocks became very expensive--out
of proportion to their earnings expectations. As a result,
there was a substantial disparity in value between large and
small companies, and between growth and value stocks.

Since earlier this year, however, that gap has narrowed
significantly amid news of strong U.S. economic growth
and faster-than-expected global stability. While the
long-term prospects of U.S. growth stocks are still
very good, many of the smaller and economically sensitive
companies favored by our value managers now are posting very
attractive returns.

In the bond market, U.S. Treasuries and select European
government bonds were the major beneficiaries of the flight
to quality that occurred in recent years. When this trend
reversed itself toward the end of 1998, other
sectors of the bond market rebounded. However, with a
strong U.S. economy comes the threat of higher inflation--
which erodes the value of bonds' fixed interest payments.
The recent inflation concerns jolted the bond market and
helped send long-term interest rates to a 19-month high.

The winds of change in the equity market and the recent
turbulence in the bond market not only highlight the value
of professional portfolio management, they illustrate why
investors should have a well-diversified asset allocation
strategy. It is also a good practice to rebalance your
holdings, when necessary, to keep your asset allocation
consistent with your long-term objectives and risk
tolerance. A properly diversified portfolio of value-
and growth-oriented equity funds, international bond
funds, and money market funds could help you weather
inevitable market turbulence and achieve more consistent
returns over time. Prudential offers a wide range of
mutual funds to help our shareholders diversify, as
well as several balanced and diversified funds to
allow one-decision diversification.

Thank you for your continued confidence in Prudential mutual funds.

Sincerely,

John R. Strangfeld
Chief Investment Officer
Prudential Investments

2
<PAGE>

Portfolio of Investments as PRUDENTIAL GLOBAL LIMITED
of April 30, 1999 MATURITY FUND, INC.
(Unaudited) LIMITED MATURITY PORTFOLIO
- ------------------------------------------------------------
- ------------------------------------------------------------
<TABLE>
<CAPTION>
Principal US$
Amount Value
(000) Description (Note 1)
<C> <S> <C>
- -----------------------------------------------------------
LONG-TERM INVESTMENTS--83.0%
- -----------------------------------------------------------
Australia--8.3%
A$ 2,675 Federal National Mortgage
Association,
6.375%, 8/15/07 $ 1,838,320
4,000 Queensland Treasury Corporation,
8.00%, 5/14/03 2,900,248
-----------
4,738,568
- ------------------------------------------------------------
Canada--5.8%
C$ 2,000 British Columbia Municipal Fin.
Auth.,
6.75%, 4/24/07 1,479,507
2,500 Province of Quebec,
6.50%, 10/1/07 1,827,810
-----------
3,307,317
- ------------------------------------------------------------
Denmark--6.7%
DKr 23,000 Danish Government Bonds,
7.00%, 12/15/04 3,818,166
- ------------------------------------------------------------
Euro--8.3%
EUR 1,134 Dutch Government Bonds,
6.50%, 4/15/03 1,349,870
German Government Bonds,
1,303 6.00%, 1/5/06 1,573,163
1,000 Zero Coupon, 7/4/07 773,903
800 Spanish Government Bonds,
8.00%, 5/30/04 1,029,368
-----------
4,726,304
Germany--6.1%
DM 3,000 Republic of Columbia,
7.25%, 12/21/00 $ 1,682,312
3,000 Tokyo Gas Co. Ltd.,
7.00%, 7/27/05 1,825,954
-----------
3,508,266
- ------------------------------------------------------------
Greece--1.9%
GRD 325,000 Hellenic Republic,
11.90%, 12/31/03, FRN 1,094,912
- ------------------------------------------------------------
Hungary--0.2%
HUF 30,000 Hungarian Government Bonds,
15.00%, 7/24/01 129,871
- ------------------------------------------------------------
New Zealand--5.6%
NZ$ 2,800 Federal National Mortgage
Association,
7.25%, 6/20/02 1,631,628
1,400 Int'l Bank Recon. & Dev.,
7.25%, 5/27/03 819,529
1,200 New Zealand Government Bonds,
8.00%, 4/15/04 744,189
-----------
3,195,346
- ------------------------------------------------------------
Russia--0.1%
European Bank Recon. & Dev.,
Rub 2,200 31.00%, 5/5/00 46,307
3,500 Zero Coupon, 5/28/02 14,167
-----------
60,474
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 3

<PAGE>

Portfolio of Investments as PRUDENTIAL GLOBAL LIMITED
of April 30, 1999 MATURITY FUND, INC.
(Unaudited) LIMITED MATURITY PORTFOLIO
- ------------------------------------------------------------
<TABLE>
<CAPTION>
Principal US$
Amount Value
(000) Description (Note 1)
<C> <S> <C>
- ------------------------------------------------------------
Sweden--3.0%
SEK 13,000 Swedish Government Bonds,
6.00%, 2/9/05 $ 1,729,114
- ------------------------------------------------------------
United Kingdom--5.7%
BP 421 Banco Central del Uruguay,
6.00%, 2/19/07, FRN 620,369
500 United Kingdom Treasury Notes,
9.00%, 10/13/08 1,064,777
900 Powergen PLC,
8.875%, 3/26/03 1,584,002
-----------
3,269,148
- ------------------------------------------------------------
United States--31.3%
Central Banks--3.0%
US$ 750 Banco del Estado Chile,
8.39%, 8/1/01 771,218
1,000 Central Bank of Tunisia,
7.50%, 9/19/07 970,000
-----------
1,741,218
- ------------------------------------------------------------
Sovereign Bonds--12.2%
500 Jamaican Government Bonds,
9.625%, 7/2/02 460,000
1,000 Ministry of Finance (Russia),
10.00%, 6/26/07 401,250
500 National Republic of Bulgaria,
2.50%, 7/28/12 303,150
465 Republic of Argentina, FRB,
5.9375%, 3/31/05 413,292
246 Republic of Brazil, IDU,
6.0625%, 1/1/01 233,405
US$ 1,434 Republic of Croatia, FRN,
5.8125%, 7/31/06 $ 1,182,947
1,000 Republic of Italy,
7.00%, 9/18/01 1,029,500
400 Republic of Lithuania,
7.125%, 7/22/02 372,000
400 Republic of Panama,
7.875%, 2/13/02 389,000
214 Republic of Venezuela,
5.9375%, 12/18/07 171,963
500 Sultan of Oman,
7.125%, 3/20/02 504,375
1,015 Trinidad & Tobago Republic,
9.75%, 11/3/00 1,025,150
500 United Mexican States,
9.75%, 2/6/01 521,375
-----------
7,007,407
- ------------------------------------------------------------
Supranational Bonds--4.3%
500 Corporacion Andina de Formento,
5.9261%, 4/3/01 490,000
2,000 General Motors Acceptance Corp.,
Global Note,
5.75%, 11/10/03 1,975,800
-----------
2,465,800
- ------------------------------------------------------------
U.S. Government Obligations--11.8%
United States Treasury Bonds,
3,500 6.125%, 9/30/00 3,549,770
1,000 7.875%, 11/15/04 1,120,620
2,000 6.25%, 2/15/07 2,105,320
-----------
6,775,710
-----------
17,990,135
-----------
Total long-term investments
(cost US$50,014,433) 47,567,621
-----------
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 4

<PAGE>
PRUDENTIAL GLOBAL LIMITED
MATURITY FUND, INC.
LIMITED MATURITY PORTFOLIO
Portfolio of Investments as of April 30, 1999
(Unaudited)
- ------------------------------------------------------------
<TABLE>
<CAPTION>
Principal US$
Amount Value
(000) Description (Note 1)
<C> <S> <C>
- ------------------------------------------------------------
SHORT-TERM INVESTMENTS--13.4%
- ------------------------------------------------------------
Hungary--1.3%
Hungarian Government Bonds,
HUF 130,000 16.50%, 7/24/99 $ 550,624
50,000 16.00%, 4/12/00 213,921
-----------
764,545
- ------------------------------------------------------------
Netherlands--1.7%
NLG 2,000 Republic of Argentina,
7.625%, 7/5/99 957,262
- ------------------------------------------------------------
United States--1.8%
US$ 1,000 Cadbury Schweppes PLC,
6.25%, 10/4/99 1,002,500
- ------------------------------------------------------------
Repurchase Agreement--8.6%
4,958 Joint Repurchase Agreement
Account,
4.90%, 5/3/99, (Note 5) 4,958,000
-----------
Total short-term investments
(cost US$7,941,623) 7,682,307
-----------
- ------------------------------------------------------------
Total Investments--96.4%
(cost US$57,956,056; Note 4) 55,249,928
Other assets in excess of
liabilities--3.6% 2,080,909
-----------
Net Assets--100% $57,330,837
-----------
-----------
</TABLE>
- ---------------
Portfolio securities are classified by country according to the security's
currency denomination.
FRB--Floating Rate Bond.
FRN--Floating Rate Note.
IDU--Interest Due and Unpaid Bonds.
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 5

<PAGE>
PRUDENTIAL GLOBAL LIMITED
Statement of Assets and Liabilities MATURITY FUND, INC.
(Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Assets April 30, 1999
<S> <C>
Investments, at value (cost $57,956,056).................................................................... $ 55,249,928
Foreign currency, at value (cost $766,895).................................................................. 764,479
Interest receivable......................................................................................... 1,129,372
Receivable for investments sold............................................................................. 728,499
Forward currency contracts - net amount receivable from counterparties...................................... 64,705
Receivable for Fund shares sold............................................................................. 3,997
Other assets................................................................................................ 1,708
--------------
Total assets............................................................................................. 57,942,688
--------------
Liabilities
Bank overdraft.............................................................................................. 7,704
Forward currency contracts - net amount payable to counterparties........................................... 161,375
Payable for Fund shares reacquired.......................................................................... 141,078
Accrued expenses............................................................................................ 135,713
Dividends payable........................................................................................... 127,352
Due to Manager.............................................................................................. 26,276
Due to Distributor.......................................................................................... 12,353
--------------
Total liabilities........................................................................................ 611,851
--------------
Net Assets.................................................................................................. $ 57,330,837
--------------
--------------
Net assets were comprised of:
Common stock, at par..................................................................................... $ 7,530
Paid-in capital in excess of par......................................................................... 113,506,668
--------------
113,514,198
Distributions in excess of net investment income......................................................... (834,963)
Accumulated net realized loss on investments............................................................. (52,493,525)
Net unrealized depreciation on investments and foreign currencies........................................ (2,854,873)
--------------
Net assets, April 30, 1999.................................................................................. $ 57,330,837
--------------
--------------
Class A:
Net asset value and redemption price per share
($56,249,371 / 7,388,612 shares of common stock issued and outstanding)............................... $7.61
Maximum sales charge (3.00% of offering price)........................................................... .24
--------------
Maximum offering price to public......................................................................... $7.85
--------------
--------------
Class B:
Net asset value, offering price and redemption price per share
($996,379 / 130,014 shares of common stock issued and outstanding).................................... $7.66
--------------
--------------
Class C:
Net asset value and redemption price per share
($33,842 / 4,416 shares of common stock issued and outstanding)....................................... $7.66
Sales charge (1.00% of offering price)................................................................... .08
--------------
Offering price to public................................................................................. $7.74
--------------
--------------
Class Z:
Net asset value, offering price and redemption price per share
($51,245 / 6,697 shares of common stock issued and outstanding)....................................... $7.65
--------------
--------------
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 6

<PAGE>
PRUDENTIAL GLOBAL LIMITED
MATURITY FUND, INC.
LIMITED MATURITY PORTFOLIO
Statement of Operations (Unaudited)
- ------------------------------------------------------------
<TABLE>
<CAPTION>
Six Months
Ended
Net Investment Income April 30, 1999
<S> <C>
Income
Interest (net of foreign withholding tax
of $378)............................... $ 2,391,622
--------------
Expenses
Management fee............................ 170,136
Distribution fee--Class A................. 64,993
Distribution fee--Class B................. 4,641
Distribution fee--Class C................. 178
Custodian's fees and expenses............. 89,000
Transfer agent's fees and expenses........ 60,000
Reports to shareholders................... 19,000
Audit fees and expenses................... 16,000
Legal fees and expenses................... 12,000
Directors' fees and expenses.............. 10,000
Registration fees......................... 7,000
Miscellaneous............................. 1,780
--------------
Total expenses......................... 454,728
--------------
Net investment income........................ 1,936,894
--------------
Realized and Unrealized
Loss on Investments and
Foreign Currency Transactions
Net realized loss on:
Investment transactions................... (211,654)
Foreign currency transactions............. (77,266)
--------------
(288,920)
--------------
Net change in unrealized appreciation
(depreciation) of:
Investments............................... (838,828)
Foreign currencies........................ (165,485)
--------------
(1,004,313)
--------------
Net loss on investments and foreign
currencies................................ (1,293,233)
--------------
Net Increase in Net Assets
Resulting from Operations.................... $ 643,661
--------------
--------------
</TABLE>

PRUDENTIAL GLOBAL LIMITED
MATURITY FUND, INC.
LIMITED MATURITY PORTFOLIO
Statement of Changes in Net Assets (Unaudited)
- ------------------------------------------------------------
<TABLE>
<CAPTION>
Six Months
Ended Year Ended
Increase (Decrease) April 30, October 31,
in Net Assets 1999 1998
<S> <C> <C>
Operations
Net investment income........... $ 1,936,894 $ 5,065,455
Net realized loss on investment
and foreign currency
transactions................. (288,920) (3,744,181)
Net change in unrealized
appreciation (depreciation)
of investments and foreign
currencies................... (1,004,313) 1,210,478
----------- ------------
Net increase in net assets
resulting from operations....... 643,661 2,531,752
----------- ------------
Dividends and distributions (Note 1):
Dividends from net investment
income
Class A...................... (1,898,543) (4,900,891)
Class B...................... (35,445) (157,098)
Class C...................... (1,356) (4,724)
Class Z...................... (1,550) (2,742)
----------- ------------
(1,936,894) (5,065,455)
----------- ------------
Distributions in excess of net
investment income
Class A...................... (225,653) (2,132,264)
Class B...................... (4,213) (68,349)
Class C...................... (161) (2,055)
Class Z...................... (184) (1,193)
----------- ------------
(230,211) (2,203,861)
----------- ------------
Tax return of capital distributions
Class A...................... -- (964,282)
Class B...................... -- (30,910)
Class C...................... -- (929)
Class Z...................... -- (539)
----------- ------------
-- (996,660)
----------- ------------
Fund share transactions (net of
share conversions) (Note 6):
Net proceeds from shares sold... 288,399 910,000
Net asset value of shares issued
in reinvestment of dividends
and distributions............ 1,307,551 4,998,800
Cost of shares reacquired....... (8,940,815) (23,133,758)
----------- ------------
Net decrease in net assets from
Fund share transactions......... (7,344,865) (17,224,958)
----------- ------------
Total decrease..................... (8,868,309) (22,959,182)
Net Assets
Beginning of period................ 66,199,146 89,158,328
----------- ------------
End of period...................... $57,330,837 $ 66,199,146
----------- ------------
----------- ------------
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 7

<PAGE>
PRUDENTIAL GLOBAL LIMITED
Notes to Financial Statements MATURITY FUND, INC.
(Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
Prudential Global Limited Maturity Fund, Inc. (the 'Fund') is registered under
the Investment Company Act of 1940 as a nondiversified, open-end, management
investment company. The Fund was incorporated in Maryland on February 21, 1990.
The Limited Maturity Portfolio (the 'Portfolio') commenced investment operations
on November 1, 1990. The investment objective of the Portfolio is to maximize
total return, the components of which are current income and capital
appreciation, by investing primarily in a portfolio of investment grade debt
securities. The ability of the issuers of the debt securities held by the Fund
to meet their obligations may be affected by economic developments in a specific
country or industry.
- ------------------------------------------------------------
Note 1. Accounting Policies
The following is a summary of significant accounting policies followed by the
Fund in the preparation of its financial statements.
Securities Valuation: In valuing the Fund's assets, quotations of foreign
securities in a foreign currency are converted to U.S. dollar equivalents at the
then current currency value. Government securities for which quotations are
available will be based on prices provided by an independent pricing service or
broker-dealer. Other portfolio securities that are actively traded in the
over-the-counter market, including listed securities for which the primary
market is believed to be over-the-counter, will be valued at the average of the
quoted bid and asked prices provided by an independent pricing service or by
principal market makers. Any security for which the primary market is on an
exchange is valued at the last sale price on such exchange on the day of
valuation or, if there was no sale on such day, at the mean between the last bid
and asked prices on such day or at the bid price on such day in the absence of
an asked price. Securities for which market quotations are not readily available
are valued at fair value as determined in good faith by or under the direction
of the Board of Directors.
Short-term securities which mature in more than 60 days are valued at current
market quotations. Short-term securities which mature in 60 days or less are
valued at amortized cost which approximates market value.
In connection with transactions in repurchase agreements with U.S. financial
institutions, it is the Fund's policy that its custodian or designated
subcustodians, as the case may be under triparty repurchase agreements, take
possession of the underlying collateral securities, the value of which exceeds
the principal amount of the repurchase transaction including accrued interest.
If the seller defaults and the value of the collateral declines or if bankruptcy
proceedings are commenced with respect to the seller of the security,
realization of the collateral by the Fund may be delayed or limited.
Foreign Currency Translation: The books and records of the Fund are maintained
in U.S. dollars. Foreign currency amounts are translated into U.S. dollars on
the following basis:
(i) market value of investment securities, other assets and liabilities--at the
closing daily rate of exchange;
(ii) purchases and sales of investment securities, income and expenses--at the
rate of exchange prevailing on the respective dates of such transactions.
Although the net assets of the Fund are presented at the foreign exchange rates
and market values at the close of the fiscal period, the Fund does not isolate
that portion of the results of operations arising as a result of changes in the
foreign exchange rates from the fluctuations arising from changes in the market
prices of securities held at the end of the fiscal period. Similarly, the Fund
does not isolate the effect of changes in foreign exchange rates from the
fluctuations arising from changes in the market prices of long-term debt
securities sold during the fiscal period. Accordingly, such realized foreign
currency gains and losses are included in the reported net realized gains
(losses) on investment transactions.
Net realized gain on foreign currency transactions represents net foreign
exchange gains or losses from sales and maturities of short-term securities,
holding of foreign currencies, currency gains or losses realized between the
trade and settlement dates on security transactions, and the difference between
the amounts of interest and foreign taxes recorded on the Fund's books and the
U.S. dollar equivalent amounts actually received or paid. Net unrealized
currency gains and losses from valuing foreign currency denominated assets and
liabilities at fiscal period end exchange rates are reflected as a component of
net unrealized appreciation/depreciation on investments and foreign currencies.
Foreign security and currency transactions may involve certain considerations
and risks not typically associated with those of U.S. companies as a result of,
among other factors, the possibility of political and economic instability and
the level of governmental supervision and regulation of foreign securities
markets.
Forward Currency Contracts: A forward currency contract is a commitment to
purchase or sell a foreign currency at a future date at a negotiated forward
rate. The Fund enters into forward currency contracts in order to hedge its
exposure to changes in foreign currency exchange rates on its
- --------------------------------------------------------------------------------
8

<PAGE>
PRUDENTIAL GLOBAL LIMITED
Notes to Financial Statements MATURITY FUND, INC.
(Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
foreign portfolio holdings or on specific receivables and payables denominated
in a foreign currency. The contracts are valued daily at current exchange rates
and any unrealized gain or loss is included in net unrealized appreciation or
depreciation on investments and foreign currencies. Gain or loss is realized on
the settlement date of the contract equal to the difference between the
settlement value of the original and renegotiated forward contracts. This gain
or loss, if any, is included in net realized gain (loss) on foreign currency
transactions. Risks may arise upon entering into these contracts from the
potential inability of the counterparties to meet the terms of their contracts.
Securities Transactions and Net Investment Income: Securities transactions are
recorded on the trade date. Realized gains and losses from security and currency
transactions are calculated on the identified cost basis. Interest income is
recorded on the accrual basis. The Fund amortizes discounts on purchases of debt
securities as adjustments to income. Expenses are recorded on the accrual basis
which may require the use of certain estimates by management.
Net investment income (other than distribution fees) and unrealized and realized
gains or losses are allocated daily to each class of shares based upon the
relative proportion of net assets of each class at the beginning of the day.
Dividends and Distributions: The Fund declares daily and pays dividends from
book basis net investment income monthly and makes distributions at least
annually of any net capital gains. Dividends and distributions are recorded on
the ex-dividend date.
Income distributions and capital gain distributions are determined in accordance
with income tax regulations which may differ from generally accepted accounting
principles. These differences are primarily due to differing treatments for
foreign currency transactions.
Reclassification of Capital Accounts: The Portfolio accounts and reports for
distributions to shareholders in accordance with American Institute of Certified
Public Accountants (AICPA) Statement of Position 93-2: Determination,
Disclosure, and Financial Statement Presentation of Income, Capital Gain, and
Return of Capital Distributions by Investment Companies. The effect of applying
this Statement of Position was to reclassify $511,535 of foreign currency losses
from accumulated net realized losses on investments to distributions in excess
of net investment income. Net investment income, net realized gains and net
assets were not affected by this change.
Taxes: It is the intent of the Fund to continue to meet the requirements of the
Internal Revenue Code applicable to regulated investment companies and to
distribute all of its taxable income to shareholders. Therefore, no federal
income tax provision is required.
Withholding taxes on foreign interest have been provided for in accordance with
the Fund's understanding of the applicable country's tax rules and rates.
- ------------------------------------------------------------
Note 2. Agreements
The Fund has a management agreement with Prudential Investments Fund Management
LLC ('PIFM'). Pursuant to this agreement, PIFM has responsibility for all
investment advisory services and supervises the subadviser's performance of such
services. PIFM has entered into a subadvisory agreement with The Prudential
Investment Corporation ('PIC'); PIC, through an agreement with PRICOA Asset
Management Ltd. ('PRICOA'), furnishes investment advisory services in connection
with the management of the Fund. PIFM pays for the services of PIC (which in
turn pays PRICOA), the cost of compensation of officers of the Fund, occupancy
and certain clerical and bookkeeping costs of the Fund. The Fund bears all other
costs and expenses.
The management fee paid PIFM is computed daily and payable monthly at an annual
rate of .55 of 1% of the average daily net assets of the Portfolio.
The Fund has a distribution agreement with Prudential Investment Management
Services LLC ('PIMS'), which acts as the distributor of the Class A, B, C and Z
shares of the Fund. The Fund compensates PIMS for distributing and servicing the
Fund's Class A, Class B and Class C shares, pursuant to plans of distribution
(the 'Class A, B and C Plans'), regardless of expenses actually incurred by
PIMS. The distribution fees are accrued daily and payable monthly. No
distribution or service fees are paid to PIMS as distributor of the Class Z
shares of the Fund.
Pursuant to the Class A, B and C Plans, the Fund compensates PIMS for
distribution-related activities at an annual rate of up to .30 of 1%, 1% and 1%,
of the average daily net assets of the Class A, B and C shares, respectively.
Such expenses under the Plans were .15 of 1%, .75 of 1% and .75 of 1% of the
average daily net assets of the Class A, B and C shares, respectively, for the
period November 1, 1998 through December 31, 1998. Effective January 1, 1999,
such expenses under the Plans were .25 of 1%, .75 of 1% and .75 of 1% of the
average daily net assets of the Class A, B and C shares, respectively.
- --------------------------------------------------------------------------------
9
<PAGE>
PRUDENTIAL GLOBAL LIMITED
Notes to Financial Statements MATURITY FUND, INC.
(Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
PIMS has advised the Fund that it has received approximately $300 in front-end
sales charges resulting from sales of Class A and Class C shares during the six
months ended April 30, 1999. From these fees, PIMS paid such sales charges to
affiliated broker-dealers, which in turn paid commissions to salespersons and
incurred other distribution costs.
PIMS has advised the Fund that for the six months ended April 30, 1999, it
received approximately $2,400 and $200 in contingent deferred sales charges
imposed upon certain redemptions by Class B and C shareholders, respectively.
As of March 11, 1999, the Fund, along with other affiliated registered
investment companies (the 'Funds'), entered into a syndicated credit agreement
('SCA') with an unaffiliated lender. The maximum commitment under the SCA is $1
billion. The Funds pay a commitment fee at an annual rate of .065 of 1% on the
unused portion of the credit facility, which is accrued and paid quarterly on a
pro rata basis by the Funds. The SCA expires on March 9, 2000. Prior to March
11, 1999, the Funds had a credit agreement with a maximum commitment of
$200,000,000. The commitment fee was .055 of 1% on the unused portion of the
credit facility. The Fund did not borrow any amounts pursuant to either
agreement during the six months ended March 31, 1999. The purpose of the
agreements is to serve as an alternative source of funding for capital share
redemptions.
PIMS, PIFM, PIC and PRICOA are indirect, wholly owned subsidiaries of The
Prudential Insurance Company of America.
- ------------------------------------------------------------
Note 3. Other Transactions With Affiliates
Prudential Mutual Fund Services LLC ('PMFS'), a wholly owned subsidiary of PIFM,
serves as the Fund's transfer agent and during the six months ended April 30,
1999, the Portfolio incurred fees of approximately $50,800 for the services of
PMFS. As of April 30, 1999, approximately $9,100 of such fees were due to PMFS.
Transfer agent fees and expenses in the Statement of Operations include certain
out-of-pocket expenses paid to nonaffiliates.
- ------------------------------------------------------------
Note 4. Portfolio Securities
Purchases and sales of investment securities, other than short-term investments
and options, for the six months ended April 30, 1999 aggregated $14,015,745 and
$23,224,785, respectively.
The United States federal income tax basis of the Portfolio's investments at
April 30, 1999 was substantially the same as for financial reporting purposes
and, accordingly, net unrealized depreciation of investments was $2,706,128
(gross unrealized appreciation--$766,622; gross unrealized
depreciation--$3,472,750).
For federal income tax purposes, the Portfolio had a capital loss carryforward
as of October 31, 1998, of approximately $52,716,100 of which $4,207,200 expires
in 2000, $32,949,600 expires in 2001, $12,011,000 expires in 2002, $1,565,600
expires in 2003, $326,200 expires in 2004 and $1,656,500 expires in 2006.
Accordingly, no capital gains distributions are expected to be paid to
shareholders until future net gains have been realized in excess of such
carryforward.
At April 30, 1999, the Portfolio had outstanding forward currency contracts both
to purchase and sell foreign currencies as follows:
<TABLE>
<CAPTION>
Value at
Forward Currency Settlement Date Current
Purchase Contracts Payable Value Depreciation
- -------------------------- --------------- ----------- --------------
<S> <C> <C> <C>
Euros,
expiring 5/25/99........ $ 2,058,109 $ 2,056,442 $ (1,667)
Swedish Krona,
expiring 5/6/99......... 882,620 867,506 (15,114)
--------------- ----------- --------------
$ 2,940,729 $ 2,923,948 $(16,781)
--------------- ----------- --------------
--------------- ----------- --------------
</TABLE>

<TABLE>
<CAPTION>
Value at
Forward Currency Settlement Date Current Appreciation/
Sale Contracts Receivable Value Depreciation
- ------------------------- --------------- ----------- ------------
<S> <C> <C> <C>
Canadian Dollars,
expiring 5/25/99....... $ 2,303,523 $ 2,330,497 $(26,974)
Euros,
expiring 5/6/99........ 882,620 862,750 19,870
Greek Drachma,
expiring 5/25/99....... 1,109,380 1,110,955 (1,575)
Japanese Yen,
expiring 5/25/99....... 847,249 842,478 4,771
New Zealand Dollars,
expiring 5/25/99....... 6,884,717 7,000,182 (115,465)
Pound Sterling,
expiring 5/25/99....... 948,729 949,309 (580)
Swiss Francs,
expiring 5/25/99....... 4,714,475 4,674,411 40,064
--------------- ----------- ------------
$17,690,693 $17,770,582 $(79,889)
--------------- ----------- ------------
--------------- ----------- ------------
</TABLE>
- --------------------------------------------------------------------------------
10

<PAGE>
PRUDENTIAL GLOBAL LIMITED
Notes to Financial Statements MATURITY FUND, INC.
(Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
Note 5. Joint Repurchase Agreement Account
The Portfolio, along with other affiliated registered investment companies,
transfers uninvested cash balances into a single joint account, the daily
aggregate balance of which is invested in one or more repurchase agreements
collateralized by U.S. Treasury or Federal agency obligations. As of April 30,
1999, the Portfolio has a 0.9% undivided interest in the repurchase agreements
in the joint account. The undivided interest for the Portfolio represents
$4,958,000 in principal amount. As of such date, each repurchase agreement in
the joint account and the value of the collateral therefor were as follows:
Bear, Stearns & Co., Inc., 4.90%, in the principal amount of $150,000,000,
repurchase price $150,061,250, due 5/3/99. The value of the collateral including
accrued interest was $153,641,618.
Merrill Lynch, Pierce, Fenner & Smith, Inc., 4.90%, in the principal amount of
$121,448,000, repurchase price $121,497,591, due 5/3/99. The value of the
collateral including accrued interest was $123,877,485.
Salomon Smith Barney, Inc., 4.90%, in the principal amount of $150,000,000,
repurchase price $150,061,250, due 5/3/99. The value of the collateral including
accrued interest was $153,037,359.
Warburg Dillon Read LLC, 4.90%, in the principal amount of $150,000,000,
repurchase price $150,061,250, due 5/3/99. The value of the collateral including
accrued interest was $153,001,025.
- ------------------------------------------------------------
Note 6. Capital
The Portfolio offers Class A, Class B, Class C and Class Z shares. Class A
shares are sold with a front-end sales charge of up to 3.0%. Class B shares are
sold with a contingent deferred sales charge which declines from 3% to zero
depending on the period of time the shares are held. Class C shares are sold
with a front-end sales charge of 1% and a contingent deferred sales charge of 1%
during the first 18 months. Prior to November 2, 1998, Class C shares were sold
with a contingent deferred sales charge of 1% during the first year. Class B
shares will automatically convert to Class A shares on a quarterly basis
approximately five years after purchase. A special exchange privilege is also
available for shareholders who qualify to purchase Class A shares at net asset
value. Class Z shares are not subject to any sales or redemption charge and are
offered exclusively for sale to a limited group of investors. The Portfolio has
authorized 2 billion shares of common stock at $.001 par value per share equally
divided into Class A, B, C and Z shares.
Transactions in shares of common stock for the six months ended April 30, 1999
and the year ended October 31, 1998 were as follows:

<TABLE>
<CAPTION>
Class A Shares Amount
- ------------------------------------ ---------- ------------
<S> <C> <C>
Six months ended April 30, 1999:
Shares sold......................... 29,104 $ 226,905
Shares issued in reinvestment of
dividends and distributions....... 165,599 1,281,405
Shares reacquired................... (1,114,134) (8,599,958)
---------- ------------
Net decrease in shares outstanding
before conversion................. (919,431) (7,091,648)
Shares issued upon conversion from
Class B........................... 38,263 297,545
---------- ------------
Net decrease in shares
outstanding....................... (881,168) $ (6,794,103)
---------- ------------
---------- ------------
Year ended October 31, 1998:
Shares sold......................... 60,910 $ 492,071
Shares issued in reinvestment of
dividends and distributions....... 595,087 4,814,179
Shares reacquired................... (2,675,177) (21,698,873)
---------- ------------
Net decrease in shares outstanding
before conversion................. (2,019,180) (16,392,623)
Shares issued upon conversion from
Class B........................... 165,902 1,366,795
---------- ------------
Net decrease in shares
outstanding....................... (1,853,278) $(15,025,828)
---------- ------------
---------- ------------
<CAPTION>
Class B
- ------------------------------------
<S> <C> <C>
Six months ended April 30, 1999:
Shares sold......................... 5,623 $ 43,747
Shares issued in reinvestment of
dividends and distributions....... 3,013 23,486
Shares reacquired................... (39,519) (308,390)
---------- ------------
Net decrease in shares outstanding
before conversion................. (30,883) (241,157)
Shares reacquired upon conversion
into Class A...................... (38,019) (297,545)
---------- ------------
Net decrease in shares
outstanding....................... (68,902) $ (538,702)
---------- ------------
---------- ------------
Year ended October 31, 1998:
Shares sold......................... 42,084 $ 342,479
Shares issued in reinvestment of
dividends and distributions....... 21,298 173,540
Shares reacquired................... (165,425) (1,347,329)
---------- ------------
Net decrease in shares outstanding
before conversion................. (102,043) (831,310)
Shares reacquired upon conversion
into Class A...................... (165,049) (1,366,795)
---------- ------------
Net decrease in shares
outstanding....................... (267,092) $ (2,198,105)
---------- ------------
---------- ------------
</TABLE>
- --------------------------------------------------------------------------------
11
<PAGE>
PRUDENTIAL GLOBAL LIMITED
Notes to Financial Statements MATURITY FUND, INC.
(Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Class C Shares Amount
- ------------------------------------ ---------- ------------
<S> <C> <C>
Six months ended April 30, 1999:
Shares sold......................... 2,015 $ 15,747
Shares issued in reinvestment of
dividends and distributions....... 115 897
Shares reacquired................... (4,200) (32,467)
---------- ------------
Net decrease in shares
outstanding....................... (2,070) $ (15,823)
---------- ------------
---------- ------------
Year ended October 31, 1998:
Shares sold......................... 3,889 $ 32,000
Shares issued in reinvestment of
dividends and distributions....... 820 6,683
Shares reacquired................... (10,850) (87,472)
---------- ------------
Net decrease in shares
outstanding....................... (6,141) $ (48,789)
---------- ------------
---------- ------------
<CAPTION>
Class Z
- ------------------------------------
<S> <C> <C>
Six months ended April 30, 1999:
Shares sold......................... 258 $ 2,000
Shares issued in reinvestment of
dividends and distributions....... 227 1,763
---------- ------------
Net increase in shares
outstanding....................... 485 $ 3,763
---------- ------------
---------- ------------
Year ended October 31, 1998:
Shares sold......................... 5,175 $ 43,450
Shares issued in reinvestment of
dividends and distributions....... 543 4,398
Shares reacquired................... (11) (84)
---------- ------------
Net increase in shares
outstanding....................... 5,707 $ 47,764
---------- ------------
---------- ------------
</TABLE>

- ------------------------------------------------------------
Note 7. Proposed Merger
On May 26, 1999, the Directors approved an Agreement and Plan of Reorganization
and Liquidation of the Fund (the 'Plan of Reorganization') which provides for
the transfer of substantially all of the assets and liabilities of the Fund to
The Global Total Return Fund, Inc. Class A, B, C, and Z shares of the Fund will
be exchanged at net asset value for Class A, B, C, and Z shares of the
equivalent value of The Global Total Return Fund, Inc. The Fund will then cease
operations.
- --------------------------------------------------------------------------------
12
<PAGE>
PRUDENTIAL GLOBAL LIMITED
MATURITY FUND, INC.
Financial Highlights (Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Class A
----------------------------------------------------------------------
Six Months
Ended Year Ended October 31,
April 30, -------------------------------------------------------
1999(b) 1998(b) 1997(b) 1996 1995 1994
---------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period.......... $ 7.80 $ 8.41 $ 8.82 $ 8.39 $ 8.56 $ 9.29
---------- ------- ------- ------- ------- -------
Income from investment operations
Net investment income......................... .24 .54 .60 .60 .61 .70
Net realized and unrealized gain (loss) on
investment and foreign currency
transactions............................... (.16) (.29) (.16) .40 (.21) (.86)
---------- ------- ------- ------- ------- -------
Total from investment operations........... .08 .25 .44 1.00 .40 (.16)
---------- ------- ------- ------- ------- -------
Less distributions
Dividends from net investment income.......... (.24) (.54) (.60) (.57) (.48) --
Distributions in excess of net investment
income..................................... (.03) (.22) (.25) -- -- --
Tax return of capital distributions........... -- (.10) -- -- (.09) (.57)
---------- ------- ------- ------- ------- -------
Total distributions........................ (.27) (.86) (.85) (.57) (.57) (.57)
---------- ------- ------- ------- ------- -------
Net asset value, end of period................ $ 7.61 $ 7.80 $ 8.41 $ 8.82 $ 8.39 $ 8.56
---------- ------- ------- ------- ------- -------
---------- ------- ------- ------- ------- -------
TOTAL RETURN(a):.............................. 1.12% 3.01% 5.14% 12.35% 4.92% (1.89)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000)............... $ 56,249 $64,538 $85,109 $69,051 $18,216 $28,841
Average net assets (000)...................... $ 61,035 $73,853 $83,590 $53,284 $20,153 $38,000
Ratios to average net assets:
Expenses, including distribution fees...... 1.46%(c) 1.36% 1.35% 1.32% 1.21% 1.17%
Expenses, excluding distribution fees...... 1.24%(c) 1.21% 1.20% 1.17% 1.06% 1.02%
Net investment income...................... 6.27%(c) 6.65% 6.94% 7.12% 7.25% 7.67%
For Class A, B, C and Z shares:
Portfolio turnover rate.................... 25% 40% 53% 101% 199% 232%
</TABLE>

- ---------------
(a) Total return does not consider the effects of sales loads. Total return is
calculated assuming a purchase of shares on the first day and a sale on the
last day of each period reported and includes reinvestment of dividends and
distributions. Total returns for periods less than a full year are not
annualized.
(b) Calculated based upon average shares outstanding during the period.
(c) Annualized.
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 13

<PAGE>
PRUDENTIAL GLOBAL LIMITED
MATURITY FUND, INC.
Financial Highlights (Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Class B
--------------------------------------------------------------------------
Six Months
Ended Year Ended October 31,
April 30, -----------------------------------------------------------
1999(b) 1998(b) 1997(b) 1996 1995 1994
----- ------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period.......... $ 7.85 $ 8.45 $ 8.85 $ 8.42 $ 8.56 $ 9.29
----- ------- -------- -------- -------- --------
Income from investment operations
Net investment income......................... .22 .51 .55 .55 .56 .62
Net realized and unrealized gain (loss) on
investment and foreign currency
transactions............................... (.16) (.31) (.16) .40 (.19) (.86)
----- ------- -------- -------- -------- --------
Total from investment operations........... .06 .20 .39 .95 .37 (.24)
----- ------- -------- -------- -------- --------
Less distributions
Dividends from net investment income.......... (.22) (.51) (.55) (.52) (.43) --
Distributions in excess of net investment
income..................................... (.03) (.19) (.24) -- -- --
Tax return of capital distributions........... -- (.10) -- -- (.08) (.49)
----- ------- -------- -------- -------- --------
Total distributions........................ (.25) (.80) (.79) (.52) (.51) (.49)
----- ------- -------- -------- -------- --------
Net asset value, end of period................ $ 7.66 $ 7.85 $ 8.45 $ 8.85 $ 8.42 $ 8.56
----- ------- -------- -------- -------- --------
----- ------- -------- -------- -------- --------
TOTAL RETURN(a):.............................. 0.84% 2.48% 4.59% 11.61% 4.60% (2.62)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000)............... $ 996 $ 1,562 $ 2,397 $ 44,804 $108,454 $188,966
Average net assets (000)...................... $1,248 $ 2,397 $ 17,941 $ 70,794 $139,248 $281,143
Ratios to average net assets:
Expenses, including distribution fees...... 1.99%(c) 1.96% 1.95% 1.92% 1.83% 1.97%
Expenses, excluding distribution fees...... 1.24%(c) 1.21% 1.20% 1.17% 1.08% 1.02%
Net investment income...................... 5.73%(c) 6.03% 6.34% 6.51% 6.61% 6.82%
</TABLE>

<PAGE>
PRUDENTIAL GLOBAL LIMITED
MATURITY FUND, INC.
Financial Highlights (Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Class C
--------------------------------------------------------------------------
August 1,
Six Months 1994(b)
Ended Year Ended October 31, Through
April 30, ------------------------------------------- October 31,
1999(e) 1998(e) 1997(e) 1996 1995 1994
<S> <C> <C> <C> <C> <C> <C>
----- ------- ------- ------- ------- ---
PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period.......... $ 7.85 $ 8.45 $ 8.85 $ 8.42 $ 8.56 $8.61
----- ------- ------- ------- ------- ---
Income from investment operations
Net investment income......................... .22 .50 .55 .55 .54 .14
Net realized and unrealized gain (loss) on
investment and foreign currency
transactions............................... (.16) (.30 ) (.16) .40 (.17) (.06)
----- ------- ------- ------- ------- ---
Total from investment operations........... .06 .20 .39 .95 .37 .08
----- ------- ------- ------- ------- ---
Less distributions
Dividends from net investment income.......... (.22) (.50 ) (.55) (.52) (.43) --
Distributions in excess of net investment
income..................................... (.03) (.20 ) (.24) -- -- --
Tax return of capital distributions........... -- (.10 ) -- -- (.08) (.13)
----- ------- ------- ------- ------- ---
Total distributions........................ (.25) (.80 ) (.79) (.52) (.51) (.13)
----- ------- ------- ------- ------- ---
Net asset value, end of period................ $ 7.66 $ 7.85 $ 8.45 $ 8.85 $ 8.42 $8.56
----- ------- ------- ------- ------- ---
----- ------- ------- ------- ------- ---
TOTAL RETURN(a):.............................. 0.84% 2.48 % 4.59% 11.61% 4.60% 0.75%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000)............... $ 34 $ 51 $ 107 $ 54 $ 755(d) $ 200(d)
Average net assets (000)...................... $ 48 $ 64 $ 116 $ 4 $ 1,461(d) $ 199(d)
Ratios to average net assets:
Expenses, including distribution fees...... 1.99%(c) 1.96 % 1.95% 1.92% 1.70% .93%(c)
Expenses, excluding distribution fees...... 1.24%(c) 1.21 % 1.20% 1.17% .95% .18%(c)
Net investment income...................... 5.70%(c) 6.07 % 6.36% 6.35% 6.43% 7.02%(c)
</TABLE>

- ---------------
(a) Total return does not consider the effects of sales loads. Total return is
calculated assuming a purchase of shares on the first day and a sale on the
last day of each period reported and includes reinvestment of dividends and
distributions. Total returns for periods of less than a full year are not
annualized.
(b) Commencement of offering of Class C shares.
(c) Annualized.
(d) Figures are actual and not rounded to the nearest thousand.
(e) Calculated based upon average shares outstanding during the period.
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 15

<PAGE>
PRUDENTIAL GLOBAL LIMITED
MATURITY FUND, INC.
Financial Highlights (Unaudited) LIMITED MATURITY PORTFOLIO
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Class Z
------------------------------------------
January 27,
Six Months Year 1997(c)
Ended Ended Through
April 30, October 31, October 31,
1999(e) 1998(e) 1997(e)
<S> <C> <C> <C>
----- ----- -----
PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period.......... $ 7.84 $ 8.44 $ 8.57
----- ----- -----
Income from investment operations
Net investment income......................... .25 .55 .43
Net realized and unrealized gain (loss) on
investment and foreign currency
transactions............................... (.16) (.28) (.11)
----- ----- -----
Total from investment operations........... .09 .27 .32
----- ----- -----
Less distributions
Dividends from net investment income.......... (.25) (.55) (.43)
Distributions in excess of net investment
income..................................... (.03) (.22) (.02)
Tax return of capital distributions........... -- (.10) --
----- ----- -----
Total distributions........................ (.28) (.87) (.45)
----- ----- -----
Net asset value, end of period................ $ 7.65 $ 7.84 $ 8.44
----- ----- -----
----- ----- -----
TOTAL RETURN(a):.............................. 1.09% 3.28% 3.53%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000)............... $ 51 $ 49 $ 4
Average net assets (000)...................... $ 50 $ 43 $ 308(d)
Ratios to average net assets:
Expenses, including distribution fees...... 1.24%(b) 1.21% 1.20%(b)
Expenses, excluding distribution fees...... 1.24%(b) 1.21% 1.20%(b)
Net investment income...................... 6.50%(b) 6.83% 14.07%(b)
</TABLE>

- ---------------
(a) Total return does not consider the effects of sales loads. Total return is
calculated assuming a purchase of shares on the first day and a sale on the
last day of each period reported and includes reinvestment of dividends and
distributions. Total returns for periods of less than a full year are not
annualized.
(b) Annualized.
(c) Commencement of offering of Class Z shares.
(d) Figures are actual and not rounded to the nearest thousand.
(e) Calculated based upon average shares outstanding during the period.
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 16

<PAGE>
Prudential Mutual Funds
Gateway Center Three
100 Mulberry Street
Newark, NJ 07102-4077

(800) 225-1852
http://www.prudential.com

Directors
Edward D. Beach
Delayne Dedrick Gold
Robert F. Gunia
Douglas H. McCorkindale
Thomas T. Mooney
Stephen P. Munn
Richard A. Redeker
Robin B. Smith
John R. Strangfeld
Louis A. Weil, III
Clay T. Whitehead

Officers
John R. Strangfeld, President
Robert F. Gunia, Vice President
Grace C. Torres, Treasurer
Stephen M. Ungerman, Assistant Treasurer
Marguerite Morrison, Secretary

Manager
Prudential Investments Fund Management LLC
Gateway Center Three
100 Mulberry Street
Newark, NJ 07102-4077

Investment Adviser
The Prudential Investment Corporation
Prudential Plaza
Newark, NJ 07102-3777

PRICOA Asset Management Ltd.
115 Houndsditch
London EC3A7BU

Distributor
Prudential Investment Management Services LLC
Gateway Center Three
100 Mulberry Street
Newark, NJ 07102-4077

Custodian
State Street Bank and Trust Company
One Heritage Drive
North Quincy, MA 02171

Transfer Agent
Prudential Mutual Fund Services LLC
P.O. Box 15005
New Brunswick, NJ 08906

Independent Accountants
PricewaterhouseCoopers LLP
1177 Avenue of the Americas
New York, NY 10036

Legal Counsel
Gardner, Carton & Douglas
Quaker Tower
321 North Clark Street
Chicago, IL 60610-4795

The views expressed in this report and information about
the Fund's portfolio holdings are for the period covered
by this report, and are subject to change thereafter.

The accompanying financial statements as of April 30, 1999,
were not audited and, accordingly, no opinion is expressed
on them.

This report is not authorized for distribution to prospective
investors unless preceded or accompanied by a current prospectus.

<PAGE>

(LOGO)

Prudential Mutual Funds BULK RATE
Gateway Center Three U.S. POSTAGE
100 Mulberry Street PAID
Newark, NJ 07102-4077 Permit 6807
(800) 225-1852 New York, NY

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