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The Target Portfolio TrustSM
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SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 2000
Investment Advisory and Other Services
The section entitled 'Investment Advisory and Other Services--Manager and
Advisers' is amended as follows.
The first paragraph under 'Large Capitalization Value Portfolio' is amended
to read in its entirety as follows:
J.P. Morgan Investment Management Inc. (J.P. Morgan), 522 Fifth Avenue,
New York, New York 10036, serves as one of two Advisers to the Large
Capitalization Value Portfolio. J.P. Morgan is a wholly-owned subsidiary
of J.P. Morgan & Co. Incorporated, a bank holding company. As of March 31,
2000, J.P. Morgan managed assets totaling approximately $376 billion.
The paragraph under 'Intermediate-Term Bond Portfolio and Total Return Bond
Portfolio' is amended to read in its entirety as follows:
Pacific Investment Management Company (PIMCO), 840 Newport Center
Drive, Suite 300, Newport Beach, CA 92660, serves as the Adviser to the
Intermediate-Term Bond and Total Return Bond Portfolios. PIMCO is a
subsidiary of PIMCO Advisors L.P. (PIMCO Advisors). The general partner of
PIMCO Advisors is Pacific-Allianz Partners LLC (PacPartners LLC). Allianz
of America, Inc. (Allianz of America) indirectly controls PacPartners LLC,
while Pacific Life Insurance Company owns a non-controlling interest in
PacPartners LLC. Allianz of America is a subsidiary of Allianz AG, a
large, publicly-traded insurance company based in Germany. As of
April 30, 2000, PIMCO had approximately $195 billion in assets under
management.
The date of this Supplement is May 25, 2000.
TMF158C2
