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Prudential Mutual Funds
Supplement dated May 15, 1997
The following information supplements the Prospectus of each of the Funds
listed below:
HOW THE FUND IS MANAGED
MANAGER
Prudential Mutual Fund Management LLC, the Manager of the Fund, has changed
its name to Prudential Investments Fund Management LLC, effective May 1, 1997.
SHAREHOLDER GUIDE
ALTERNATIVE PURCHASE PLAN
Class A Shares
(Non-Municipal Funds Only)
The paragraph entitled 'PruArray and SmartPath Plans' is replaced in its
entirety by the following paragraph.
Prudential Retirement Programs. Class A shares may be purchased at NAV by
certain savings, retirement and deferred compensation plans, qualified or
non-qualified under the Internal Revenue Code, for which Prudential serves as
the plan administrator or recordkeeper, provided that (i) the plan has at least
$1 million in existing assets or 250 eligible employees and (ii) the Fund is an
available investment option. These plans include pension, profit-sharing,
stock-bonus or other employee benefit plans under Section 401 of the Internal
Revenue Code, deferred compensation and annuity plans under Sections 457 or
403(b)(7) of the Internal Revenue Code and plans that participate in the
Transfer Agent's PruArray and SmartPath Programs (benefit plan recordkeeping
services) (hereafter referred to as a PruArray or SmartPath Plan). All plans of
a company for which Prudential serves as plan administrator or recordkeeper are
aggregated in meeting the $1 million threshold. The term 'existing assets' as
used herein includes stock issued by a plan sponsor, shares of Prudential Mutual
Funds and shares of certain unaffiliated mutual funds that participate in the
PruArray or SmartPath Program (Participating Funds). 'Existing assets' also
include monies invested in The Guaranteed Interest Account (GIA), a group
annuity insurance product issued by Prudential, and units of The Stable Value
Fund (SVF), an unaffiliated bank collective fund. Class A shares may also be
purchased at NAV by plans that have monies invested in GIA and SVF, provided (i)
the purchase is made with the proceeds of a redemption from either GIA or SVF
and (ii) Class A shares are an investment option of the plan.
Reduction and Waiver of Initial Sales Charges. Class A shares may be
purchased at NAV, through Prudential Securities or the Transfer Agent, by
investors in Individual Retirement Accounts, provided the purchase is made with
the proceeds from a tax-free rollover of assets from a Benefit Plan for which
Prudential Investments serves as the recordkeeper or administrator.
You must notify the Transfer Agent either directly or through your dealer
that you are entitled to the waiver of the sales charge. The reduction or waiver
will be granted subject to confirmation of your entitlement.
HOW TO SELL YOUR SHARES
Contingent Deferred Sales Charges
Waiver of Contingent Deferred Sales Charges--Class B Shares
Systematic Withdrawal Plan. The contingent deferred sales charge (CDSC) will
be waived (or reduced) on certain redemptions from a Systematic Withdrawal Plan.
On an annual basis, up to 12% of the total dollar amount subject to the CDSC may
be redeemed without charge. The Transfer Agent will calculate the total amount
available for this waiver annually, on the earlier of March 1, 1997 or the
anniversary date of your purchase. The CDSC will be waived (or reduced) on
redemptions until this threshold 12% amount is reached.
Waiver of Contingent Deferred Sales Charges--Class C Shares
(Non-Municipal Funds Only)
PruArray or SmartPath Plans. The CDSC will be waived on redemptions from
qualified and non-qualified retirement and deferred compensation plans that
participate in the Transfer Agent's PruArray and SmartPath Programs.
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Listed below are the names of the Prudential Mutual Funds and the dates of
the Prospectuses to which this supplement relates.
Name of Fund Date of Prospectus
The BlackRock Government Income Trust August 29, 1996
The Global Government Plus Fund, Inc. February 28, 1997
The Global Total Return Fund, Inc. February 28, 1997
Global Utility Fund, Inc. November 29, 1996
Nicholas-Applegate Fund, Inc. March 4, 1997
Prudential Allocation Fund September 27, 1996
Prudential California Municipal Fund
California Series November 1, 1996
California Income Series November 1, 1996
Prudential Distressed Securities Fund, Inc. January 29, 1997
Prudential Diversified Bond Fund, Inc. March 25, 1997
Prudential Dryden Fund
Active Balanced Fund November 29, 1996
Prudential Emerging Growth Fund, Inc. November 18, 1996
Prudential Equity Fund, Inc. March 5, 1997
Prudential Equity Income Fund December 30, 1996
Prudential Europe Growth Fund, Inc. July 2, 1996
Prudential Global Genesis Fund, Inc. July 30, 1996
Prudential Global Limited Maturity Fund, Inc. December 30, 1996
Prudential Government Income Fund, Inc. April 30, 1996
Prudential High Yield Fund, Inc. March 6, 1997
Prudential Intermediate Global Income Fund, Inc. February 28, 1997
Prudential Jennison Series Fund, Inc. January 13, 1997
Prudential Mortgage Income Fund, Inc. March 5, 1997
Prudential Multi-Sector Fund, Inc. June 28, 1996
Prudential Municipal Bond Fund June 28, 1996
Prudential Municipal Series Fund
(Non-money market series) November 1, 1996
Prudential National Municipals Fund, Inc. March 6, 1997
Prudential Natural Resources Fund, Inc. July 30, 1996
Prudential Pacific Growth Fund, Inc. January 7, 1997
Prudential Small Companies Fund, Inc. January 24, 1997
Prudential Structured Maturity Fund, Inc. March 3, 1997
Prudential Utility Fund, Inc. March 5, 1997
Prudential World Fund, Inc. January 16, 1997
MF970C-7
