<PAGE> 1
Strategic Partners Annuity One
Prospectus Supplement
December 4, 2000
This supplement modifies certain information in the Prospectus dated September
18, 2000 for the Strategic Partners Annuity One. Unless otherwise indicated,
all other information included in the Prospectus remains unchanged. The terms
we use in this Supplement have the same meaning as in the Prospectus.
EARNINGS APPRECIATOR -- SUPPLEMENTAL DEATH BENEFIT
Subject to approval by your state, we now offer the Earnings Appreciator, an
optional supplemental death benefit payable upon the death of the sole or last
surviving owner during the accumulation phase. The owner (or joint owner, if
older) must be younger than age 76 to apply for the benefit.
The Earnings Appreciator provides a supplemental death benefit equaling 45% (or
25%) of the earnings allocated to each purchase payment, limited to not more
than 45% (or 25%) of the purchase payment itself (adjusted for any
withdrawals). If the owner (or the joint owner, if older) is younger than age
66 on the date the application is signed, then the percentage is 45%. If not,
the percentage is 25%. The Earnings Appreciator benefit is in addition to any
other death benefit under your contract.
The charge for this benefit is based on an annual rate of 0.15% of your
contract value if you have also selected a guaranteed minimum death benefit
option (0.20% if you have not selected a guaranteed minimum death benefit
option).
The following changes to the Prospectus reflect the availability of the
Earnings Appreciator.
1. The following section is added under "What is The Death Benefit?" on pages
33 - 34:
EARNINGS APPRECIATOR SUPPLEMENTAL DEATH BENEFIT
Subject to approval by your state, we now offer the Earnings Appreciator,
an optional supplemental death benefit payable upon the death of the sole
or last surviving owner during the accumulation phase. This benefit is in
addition to any other death benefit under your contract.
- An Earnings Appreciator benefit is calculated for each purchase
payment you make. Your total Earnings Appreciator benefit is the sum
of the Earnings Appreciator benefits for all of your purchase
payments.
- If the owner (or older of owner and joint owner if there is a joint
owner) is younger than age 66 on the date the application is signed,
the Earnings Appreciator benefit for each purchase payment is 45% of
the lesser of:
- The adjusted purchase payment (which means the invested purchase
payment adjusted for partial withdrawals); or
- Earnings attributed to that adjusted purchase payment.
- If the owner (or older of owner and joint owner if there is a joint
owner) is age 66 or older (and younger than age 76) on the date the
application is signed, the Earnings Appreciator benefit for each
purchase payment is 25% of the lesser of:
- The adjusted purchase payment (which means the invested purchase
payment adjusted for partial withdrawals); or
- Earnings attributed to that adjusted purchase payment.
- The following rules apply to the calculation of the benefit:
- Each "adjusted purchase payment" is the invested purchase payment
reduced pro-rata by any subsequent withdrawals. Reduction on a
pro-rata basis means that we calculate the percentage of your
current contract value being withdrawn and reduce each adjusted
purchase payment made prior to the withdrawal by that percentage.
For example, if your contract value is
<PAGE> 2
$40,000 and you withdraw $10,000, you have withdrawn 25% of your
contract value. If you have two adjusted purchase payments prior
to the withdrawal ($10,000 and $20,000), each of those adjusted
purchase payments would be reduced by 25% (to $7,500 and
$15,000). The amount of earnings allocated to each adjusted
purchase payment is also reduced by the same percentage. These
calculations, therefore, do not depend on the actual investment
option from which the withdrawal is made, and they are different
calculations than those that apply for other reasons under the
contract, such as for the withdrawal charge or for tax purposes.
- Earnings are periodically allocated to each adjusted purchase
payment on a pro-rata basis. We calculate the amount of earnings
since the last earnings allocation and we allocate those earnings
proportionately among the adjusted purchase payments (based on
the amount of each adjusted purchase payment plus the earnings
previously allocated to that adjusted purchase payment). For
example, if you have two adjusted purchase payments - one with an
adjusted purchase payment and allocated earnings of $30,000 and
the other with an adjusted purchase payment and allocated
earnings of $20,000 (therefore 60% and 40% of the total
respectively) -- and your contract has earned $5,000 since the
last calculation, 60% of the earnings ($3,000) will be allocated
to the first adjusted purchase payment and 40% of the earnings
($2,000) will be allocated to the second adjusted purchase
payment. This calculation, therefore, does not apply different
rates of return to different purchase payments based the
investment options in which the particular purchase payment was
invested. When allocating earnings at the time of a death
benefit payment, we will first deduct from earnings the amount of
any charges deducted and credit recaptured from your contract
value at that time.
- See the Appendix for examples of the benefit calculations.
2. The following section is added under "What are the expenses associated
with the Strategic Partners Annuity One Contract?" on pages 37 - 39:
EARNINGS APPRECIATOR CHARGE
We will impose an additional charge if you choose the Earnings Appreciator
supplemental death benefit. The charge for this benefit is based on an
annual rate of 0.15% of your contract value if you have also selected a
guaranteed minimum death benefit option (0.20% if you have not selected a
guaranteed minimum death benefit option).
We calculate the charge on each of the following events:
- each contract anniversary;
- when you begin the income phase of the contract;
- upon death of the sole or last surviving owner prior to the income
phase;
- upon a withdrawal; and
- upon a subsequent purchase payment.
The fee is based on the contract value at time of calculation and is
pro-rated for the portion of the year since the last time the fee was
calculated.
The charge is not deducted every time it is calculated. Instead, the
charge is deducted, along with any previously calculated but not deducted
charge, on each of the following events:
- each contract anniversary;
- when you begin the income phase of the contract;
- upon death of the sole or last surviving owner prior to the income
phase;
- upon a full withdrawal; and
- upon a partial withdrawal if the contract value remaining after
the partial withdrawal is not enough to cover the then applicable
charge.
We withdraw this charge from each investment option in the same proportion
that your contract value is allocated to that option. Upon a full
withdrawal or if the contract value remaining after a partial
2
<PAGE> 3
withdrawal is not enough to cover the applicable charge, we will deduct
the charge from the amount we pay you.
The payment of the Earnings Appreciator charge will not reduce the
adjusted purchase payments for purposes of calculating subsequent Earnings
Appreciator charges. The payment of the Earnings Appreciator charge will
be deemed to be made from earnings for purposes of calculating other
charges.
As noted above, the charge is calculated and deducted at least once a year
on the contract anniversary. In the future, we may calculate and deduct
this fee more frequently, such as quarterly.
3. The following is added to the Glossary on pages 6-7:
ADJUSTED PURCHASE PAYMENT
Your invested purchase payment adjusted for any subsequent withdrawals.
The adjusted purchase payment is used only for calculations of the
Earnings Appreciator benefit.
EARNINGS APPRECIATOR
An optional feature that may be available for an additional charge that
provides a supplemental death benefit based on earnings under the
contract.
4. The following is added to the summary of section 4 on pages 10 - 11:
For an additional fee, you may also choose, if it is available under your
contact, the Earnings Appreciator supplemental death benefit.
5. The following is added to the summary of section 6 on page 11:
- We will make an additional charge if you choose the Earnings
Appreciator supplemental death benefit. We deduct this charge from
your contract value on the contract anniversary and upon certain other
events. The charge for this benefit is based on an annual rate of
0.15% of your contract value if you have also selected a guaranteed
minimum death benefit option (0.20% if you have not selected a
guaranteed minimum death benefit option).
6. The following is added to the chart summarizing maximum charges in the
"Summary of Contract Expenses" section on page 14:
<TABLE>
<CAPTION>
All Contracts
-------------
<S> <C>
Annual Earnings Appreciator Benefit Charge 0.20% of contract value (0.15%
And Charge Upon Certain Transactions (see if guaranteed minimum death
Note 5 below) benefit option also selected)
</TABLE>
NOTE 5: We impose this charge only if you choose the Earnings Appreciator
supplemental death benefit. The charge for this benefit is based on an
annual rate of 0.15% of your contract value if you have also selected a
guaranteed minimum death benefit option (0.20% if you have not selected a
guaranteed minimum death benefit option). We deduct this charge annually.
We also deduct this charge if you make a full withdrawal or enter the
income phase of your contract, or if a death benefit is payable, but
prorate the fee to reflect a partial rather than full year. If you make a
partial withdrawal, we will deduct the prorated fee if the remaining
contract value after the withdrawal would be less than the amount of the
prorated fee; otherwise we will not deduct the fee at that time. The fee
is also calculated when you make any purchase payment or withdrawal but we
do not deduct it until the next deduction date.
3
<PAGE> 4
7. Expense example tables 2a, 2b, 4a and 4b on pages 20 and 22 are revised as
follows to reflect the fee for the Earnings Appreciator. The fee of 0.15%
is used in these tables because the examples assume the election of a
guaranteed minimum death benefit option.
CONTRACT WITHOUT CREDIT: GREATER OF ROLL-UP OR STEP-UP GUARANTEED MINIMUM
DEATH BENEFIT OPTION; GUARANTEED MINIMUM INCOME BENEFIT; EARNINGS APPRECIATOR
<TABLE>
<CAPTION>
EXAMPLE 2a: IF YOU WITHDRAW EXAMPLE 2b: IF YOU DO NOT
YOUR ASSETS WITHDRAW YOUR ASSETS
--------------------------------- ------------------------------
1 YR 3 YRS 5 YRS 10 YRS 1 YR 3 YRS 5 YRS 10 YRS
THE PRUDENTIAL SERIES FUND
----------------------------------------------------------- ------- ------- -------- -------- ------ ------ ------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Prudential Global Portfolio $882 $1226 $1596 $2826 $252 $776 $1326 $2826
Prudential Jennison Portfolio $861 $1162 $1490 $2615 $231 $712 $1220 $2615
Prudential Money Market Portfolio $840 $1099 $1384 $2400 $210 $649 $1114 $2400
Prudential Stock Index Portfolio $837 $1090 $1368 $2369 $207 $640 $1098 $2369
SP Aggressive Growth Asset Allocation Portfolio $902 $1285 $1695 $3022 $272 $835 $1425 $3022
SP AIM Aggressive Growth Portfolio $905 $1294 $1710 $3051 $275 $844 $1440 $3051
SP AIM Growth and Income Portfolio $898 $1273 $1675 $2983 $268 $823 $1405 $2983
SP Alliance Large Cap Growth Portfolio $908 $1303 $1724 $3080 $278 $853 $1454 $3080
SP Alliance Technology Portfolio $928 $1363 $1822 $3271 $298 $913 $1552 $3271
SP Balanced Asset Allocation Portfolio $890 $1249 $1635 $2905 $260 $799 $1365 $2905
SP Conservative Asset Allocation Portfolio $890 $1250 $1637 $2912 $260 $800 $1367 $2912
SP Davis Value Portfolio $881 $1223 $1591 $2816 $251 $773 $1321 $2816
SP Deutsche International Equity Portfolio $908 $1303 $1724 $3080 $278 $853 $1454 $3080
SP Growth Asset Allocation Portfolio $895 $1264 $1660 $2954 $265 $814 $1390 $2954
SP INVESCO Small Company Growth Portfolio $913 $1318 $1749 $3128 $283 $868 $1479 $3128
SP Jennison International Growth Portfolio $922 $1345 $1793 $3214 $292 $895 $1523 $3214
SP Large Cap Value Portfolio $888 $1243 $1625 $2885 $258 $793 $1355 $2885
SP MFS Capital Opportunities Portfolio $898 $1273 $1675 $2983 $268 $823 $1405 $2983
SP MFS Mid Cap Growth Portfolio $898 $1273 $1675 $2983 $268 $823 $1405 $2983
SP PIMCO High Yield Portfolio $880 $1220 $1586 $2806 $250 $770 $1316 $2806
SP PIMCO Total Return Portfolio $874 $1201 $1555 $2746 $244 $751 $1285 $2746
SP Prudential U.S. Emerging Growth Portfolio $888 $1243 $1625 $2885 $258 $793 $1355 $2885
SP Small/Mid Cap Value Portfolio $903 $1288 $1700 $3032 $273 $838 $1430 $3032
SP Strategic Partners Focused Growth Portfolio $899 $1276 $1680 $2993 $269 $826 $1410 $2993
JANUS ASPEN SERIES
----------------------------------------------------------- ------- ------- -------- -------- ------ ------ ------- --------
Growth Portfolio - Service Shares $890 $1249 $1635 $2905 $260 $799 $1365 $2905
</TABLE>
These examples do not show past or future expenses. Actual expenses may be
higher or lower.
4
<PAGE> 5
CONTRACT WITH CREDIT: GREATER OF ROLL-UP OR STEP-UP GUARANTEED MINIMUM DEATH
BENEFIT OPTION; GUARANTEED MINIMUM INCOME BENEFIT; EARNINGS APPRECIATOR
<TABLE>
<CAPTION>
EXAMPLE 4a: IF YOU WITHDRAW EXAMPLE 4b: IF YOU DO NOT
YOUR ASSETS WITHDRAW YOUR ASSETS
--------------------------------- ---------------------------
1 YR. 3 YRS 5 YRS 10 YRS 1 YR 3 YRS 5 YRS 10 YRS
THE PRUDENTIAL SERIES FUND
------------------------------------------------------------- ------ --------- ------- -------- ----- ------ ------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Prudential Global Portfolio $922 $1345 $1793 $3214 $292 $895 $1523 $3214
Prudential Jennison Portfolio $901 $1282 $1690 $3012 $271 $832 $1420 $3012
Prudential Money Market Portfolio $880 $1220 $1586 $2806 $250 $770 $1316 $2806
Prudential Stock Index Portfolio $877 $1211 $1571 $2776 $247 $761 $1301 $2776
SP Aggressive Growth Asset Allocation Portfolio $942 $1404 $1890 $3402 $312 $954 $1620 $3402
SP AIM Aggressive Growth Portfolio $945 $1413 $1905 $3430 $315 $963 $1635 $3430
SP AIM Growth and Income Portfolio $938 $1392 $1871 $3365 $308 $942 $1601 $3365
SP Alliance Large Cap Growth Portfolio $948 $1421 $1919 $3457 $318 $971 $1649 $3457
SP Alliance Technology Portfolio $968 $1480 $2015 $3640 $338 $1030 $1745 $3640
SP Balanced Asset Allocation Portfolio $930 $1368 $1832 $3290 $300 $918 $1562 $3290
SP Conservative Asset Allocation Portfolio $930 $1369 $1834 $3298 $300 $919 $1564 $3298
SP Davis Value Portfolio $921 $1342 $1788 $3204 $291 $892 $1518 $3204
SP Deutsche International Equity Portfolio $948 $1421 $1919 $3457 $318 $971 $1649 $3457
SP Growth Asset Allocation Portfolio $935 $1383 $1857 $3337 $305 $933 $1587 $3337
SP INVESCO Small Company Growth Portfolio $953 $1436 $1944 $3503 $323 $986 $1674 $3503
SP Jennison International Growth Portfolio $962 $1463 $1987 $3585 $332 $1013 $1717 $3585
SP Large Cap Value Portfolio $928 $1363 $1822 $3271 $298 $913 $1552 $3271
SP MFS Capital Opportunities Portfolio $938 $1392 $1871 $3365 $308 $942 $1601 $3365
SP MFS Mid Cap Growth Portfolio $938 $1392 $1871 $3365 $308 $942 $1601 $3365
SP PIMCO High Yield Portfolio $920 $1339 $1783 $3195 $290 $889 $1513 $3195
SP PIMCO Total Return Portfolio $914 $1321 $1754 $3138 $284 $871 $1484 $3138
SP Prudential U.S. Emerging Growth Portfolio $928 $1363 $1822 $3271 $298 $913 $1552 $3271
SP Small/Mid Cap Value Portfolio $943 $1407 $1895 $3411 $313 $957 $1625 $3411
SP Strategic Partners Focused Growth Portfolio $939 $1395 $1876 $3374 $309 $945 $1606 $3374
JANUS ASPEN SERIES
------------------------------------------------------------- ------ --------- ------- -------- ----- ------ ------- ------
Growth Portfolio - Service Shares $930 $1368 $1832 $3290 $300 $918 $1562 $3290
</TABLE>
These examples do not show past or future expenses. Actual expenses may be
higher or lower.
8. The following sections are added under "What Are the Tax Considerations
Associated With The Strategic Partners Annuity One Contract?" on pages 41
- 45:
Subject to approval by your state, we offer an optional supplemental death
benefit called the Earnings Appreciator. Although we believe this benefit
is an investment protection feature that should have no adverse tax
consequences, it is possible that the Internal Revenue Service could take
a contrary position and assert that some or all of the Earnings
Appreciator charges should be treated for federal income tax purposes as a
partial withdrawal from the contract. If this were the case, the charge
for this benefit could be deemed a withdrawal and treated as taxable to
the extent there are earnings in the contract. Additionally, for owners
under age 59 1/2, the taxable income attributable to the charge for the
benefit could be subject to a tax penalty.
If the Internal Revenue Service determines that the deductions for one or
more benefits under the contract, including without limitation the GMDB
and GMIB features and the Earnings Appreciator supplemental death benefit,
are taxable withdrawals, then the owner may revoke the affected benefit(s)
within 90 days after notice from us.
9. The appendix on the following page is added to the end of the Prospectus.
5
<PAGE> 6
APPENDIX
Calculation of Earnings Appreciator Benefit
EXAMPLE 1:
Assume that a purchase payment of $70,000 is made on the contract date. Assume
that no withdrawals or subsequent purchase payments are made and that the
contract value used in the death benefit calculation is $120,000. Also assume
that the owner (or joint owner, if older) is younger than age 66 on the date the
application is signed.
<TABLE>
<S> <C>
45% of lesser of:
Adjusted Purchase Payment $ 70,000
Allocated Earnings $ 50,000 (contract value minus purchase payment)
Benefit (45% of $50,000) $ 22,500
</TABLE>
EXAMPLE 2:
Assume that a 60 year old purchases a contract on 1/1/2001 with a $50,000
purchase payment.
The owner's initial purchase payment (purchase payment #1) grows to $90,000 on
1/1/2005, giving the contract $40,000 IN EARNINGS*, all allocated to the initial
purchase payment. On this date, the owner makes an additional purchase payment
of $60,000. The $60,000 purchase payment increases the contract value to
$150,000 ($90,000+$60,000). At this time, there are no earnings allocated to the
additional purchase payment (purchase payment #2). However, future earnings will
now be allocated to the two purchase payments in the following proportions:
<TABLE>
<S> <C>
(purchase payment#1 + earnings)/total contract value = ($50,000 + $40,000*)/ $150,000 = 60%
(purchase payment#2 + earnings)/total contract value = ($60,000 + $0)/ $150,000 = 40%
</TABLE>
On 1/1/2009 the owner makes a withdrawal of $38,000. The contract value has
grown an additional $40,000 from $150,000 on 1/1/2005 to $190,000 on 1/1/2009
prior to the withdrawal. The $40,000 IN NEW EARNINGS** will be allocated among
the two purchase payments prior to the withdrawal using the percentages
determined above.
<TABLE>
<S> <C>
$40,000 IN NEW EARNINGS**
Earnings Allocated to Adjusted Purchase Payment #1 (60% of $40,000**) = $24,000
Earnings Allocated to Adjusted Purchase Payment #2 (40% of $40,000**) = $16,000
</TABLE>
The earnings allocated to each purchase payment now are as follows:
<TABLE>
<CAPTION>
Before
New
Earnings + $40,000 New Earnings = Total
-------- -------------------- -----
<S> <C> <C> <C>
Purchase Payment #1 $50,000 $ 0 $50,000
Earnings Allocated to #1 $40,000 $24,000 $64,000
Purchase Payment #2 $60,000 $ 0 $60,000
Earnings Allocated to #2 $ 0 $16,000 $16,000
------- ------- -------
$150,000 + $40,000 = $190,000
</TABLE>
The withdrawal of $38,000 reduces the contract value by 20% ($38,000/$190,000).
The withdrawal will reduce both purchase payments and the earnings allocated to
each of them by 20% as shown below.
<TABLE>
<CAPTION>
Before
Withdrawal Reduced by 20%
---------- --------------
<S> <C> <C>
Adjusted Purchase Payment #1 $50,000 $40,000
Earnings Allocated to #1 $64,000 $51,200
Adjusted Purchase Payment #2 $60,000 $48,000
Earnings Allocated to #2 $16,000 $12,800
------- -------
$190,000 $152,000
</TABLE>
The contract value grows $20,000 from $152,000 on 1/1/2009 to $172,000 on
1/1/2011. THE $20,000 IN NEW EARNINGS*** will be allocated among the two
purchase payments using the percentages determined above.
<TABLE>
<S> <C>
$20,000 IN NEW EARNINGS***
Earnings Allocated to Adjusted Purchase Payment #1 (60% of $20,000***) = $12,000
Earnings Allocated to Adjusted Purchase Payment #2 (40% of $20,000***) = $ 8,000
</TABLE>
The earnings allocated to each purchase payment now are as follows:
<TABLE>
<CAPTION>
Before
New
Earnings + $20,000 New Earnings = Total
-------- -------------------- -----
<S> <C> <C> <C>
Adjusted Purchase Payment #1 $40,000 $ 0 $40,000
Earnings Allocated to #1 $51,200 $12,000 $63,200
Adjusted Purchase Payment #2 $48,000 $ 0 $48,000
Earnings Allocated to #2 $12,800 $ 8,000 $20,800
------- ------- -------
$152,000 + $20,000 = $172,000
</TABLE>
Now let's calculate the total Earnings Appreciator Benefit as of 1/1/2011:
<TABLE>
<S> <C>
Benefit on Purchase Payment #1 Benefit on Purchase Payment #2
45% of lesser of: 45% of lesser of:
Adjusted Purchase Payment $ 40,000 Adjusted Purchase Payment $ 48,000
Allocated Earnings $ 63,200 Allocated Earnings $ 20,800
45% of $40,000 $ 18,000 45% of $20,800 $ 9,360
TOTAL EARNINGS APPRECIATOR BENEFIT: $ 18,000 + $ 9,360 = $ 27,360
--------
</TABLE>
<PAGE> 7
Strategic Partners Annuity One
Supplement to the Statement of Additional Information ("SAI")
December 4, 2000
This supplement modifies certain information in the SAI dated September 18,
2000 for the Strategic Partners Annuity One. Unless otherwise indicated, all
other information included in the SAI remains unchanged. The terms we use in
this Supplement have the same meaning as in the SAI.
The following is added under "Non-Standard Total Return" on pages 4-10:
The tables below provide performance information for specified periods
ending June 30, 2000 for each subaccount that invests in a Fund that had a
performance history as of June 30, 2000. For the periods prior to the date
the subaccounts commenced operations, non-standard performance information
for the Contracts will be calculated based on the performance of the Funds
and the assumption that the subaccounts were in existence for the same
periods as those indicated for the Funds, with the level of Contract
charges that were in effect at the inception of the subaccounts (this is
referred to as "hypothetical performance data"). Standard and non-standard
average annual return calculations include all of the fees under the
contract (i.e., the mortality and expense risk charge and the
administrative fee). This information does not indicate or represent
future performance.
The following three tables assume a daily insurance and administrative
charge equal to 1.70% on an annual basis, a charge for the guaranteed
minimum income benefit equal to 0.25% on an annual basis of the "roll-up
value" as defined in the prospectus, and a charge for the Earnings
Appreciator equal to 0.15% on an annual basis of the contract value.
Table 1 below shows the average annual rates of total return on
hypothetical investments of $1,000 for periods ended June 30, 2000 in each
subaccount other than the Money Market Subaccount. These figures assume
withdrawal of the investments at the end of the period other than to
effect an annuity under the Contract. This table assumes deferred sales
charges.
<PAGE> 8
TABLE 1
AVERAGE ANNUAL TOTAL RETURN
<TABLE>
<CAPTION>
FUND PORTFOLIO DATE ONE YEAR FIVE YEARS TEN YEARS FROM DATE
ESTABLISHED ENDED ENDED ENDED ESTABLISHED
06/30/2000 06/30/2000 06/30/2000 THROUGH
06/30/2000
<S> <C> <C> <C> <C> <C>
PRUDENTIAL GLOBAL PORTFOLIO 09/88 25.40% 17.36% 11.33% 11.22%
PRUDENTIAL JENNISON PORTFOLIO 05/95 20.03% 24.89% N/A 26.78%
PRUDENTIAL STOCK INDEX PORTFOLIO 09/87 -0.87% 20.59% 14.90% 13.55%
SP AGGRESSIVE GROWTH ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP AIM AGGRESSIVE GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP AIM GROWTH AND INCOME PORTFOLIO 08/00 N/A N/A N/A N/A
SP ALLIANCE LARGE CAP GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP ALLIANCE TECHNOLOGY PORTFOLIO 08/00 N/A N/A N/A N/A
SP BALANCED ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP CONSERVATIVE ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP DAVIS VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP DEUTSCHE INTERNATIONAL EQUITY PORTFOLIO 08/00 N/A N/A N/A N/A
SP GROWTH ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP INVESCO SMALL COMPANY GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP JENNISON INTERNATIONAL GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP LARGE CAP VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP MFS CAPITAL OPPORTUNITIES PORTFOLIO 08/00 N/A N/A N/A N/A
SP MFS MID CAP GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP PIMCO HIGH YIELD PORTFOLIO 08/00 N/A N/A N/A N/A
SP PIMCO TOTAL RETURN PORTFOLIO 08/00 N/A N/A N/A N/A
SP PRUDENTIAL U.S. EMERGING GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP SMALL/MID CAP VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP STRATEGIC PARTNERS FOCUSED GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
JANUS ASPEN SERIES-GROWTH PORTFOLIO SERVICE SHARES 09/93 17.34% 24.21% N/A 20.05%
</TABLE>
Table 2 shows the average annual rates of return as in Table 1, but assumes that
the investments are not withdrawn at the end of the period. This table assumes
no deferred sales charges.
TABLE 2
AVERAGE ANNUAL TOTAL RETURN
ASSUMING NO WITHDRAWAL
<TABLE>
<CAPTION>
FUND PORTFOLIO DATE ONE YEAR FIVE YEARS TEN YEARS FROM DATE
ESTABLISHED ENDED ENDED ENDED ESTABLISHED
06/30/2000 06/30/2000 06/30/2000 THROUGH
06/30/2000
<S> <C> <C> <C> <C> <C>
PRUDENTIAL GLOBAL PORTFOLIO 09/88 31.00% 17.53% 11.33% 11.22%
PRUDENTIAL JENNISON PORTFOLIO 05/95 25.63% 25.02% N/A 26.95%
PRUDENTIAL STOCK INDEX PORTFOLIO 09/87 4.73% 20.75% 14.90% 13.55%
SP AGGRESSIVE GROWTH ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP AIM AGGRESSIVE GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP AIM GROWTH AND INCOME PORTFOLIO 08/00 N/A N/A N/A N/A
SP ALLIANCE LARGE CAP GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP ALLIANCE TECHNOLOGY PORTFOLIO 08/00 N/A N/A N/A N/A
SP BALANCED ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP CONSERVATIVE ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP DAVIS VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP DEUTSCHE INTERNATIONAL EQUITY PORTFOLIO 08/00 N/A N/A N/A N/A
SP GROWTH ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP INVESCO SMALL COMPANY GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP JENNISON INTERNATIONAL GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP LARGE CAP VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP MFS CAPITAL OPPORTUNITIES PORTFOLIO 08/00 N/A N/A N/A N/A
SP MFS MID CAP GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP PIMCO HIGH YIELD PORTFOLIO 08/00 N/A N/A N/A N/A
SP PIMCO TOTAL RETURN PORTFOLIO 08/00 N/A N/A N/A N/A
SP PRUDENTIAL U.S. EMERGING GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP SMALL/MID CAP VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP STRATEGIC PARTNERS FOCUSED GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
JANUS ASPEN SERIES-GROWTH PORTFOLIO SERVICE SHARES 09/93 22.94% 24.35% N/A 20.08%
</TABLE>
2
<PAGE> 9
Table 3 shows the cumulative total return for the portfolios, assuming no
withdrawal. This table assumes no deferred sales charges.
TABLE 3
CUMULATIVE TOTAL RETURN ASSUMING NO WITHDRAWAL
<TABLE>
<CAPTION>
FUND PORTFOLIO DATE ONE YEAR FIVE YEARS TEN YEARS FROM DATE
ESTABLISHED ENDED ENDED ENDED ESTABLISHED
06/30/2000 06/30/2000 06/30/2000 THROUGH
06/30/2000
<S> <C> <C> <C> <C> <C>
PRUDENTIAL GLOBAL PORTFOLIO 09/88 31.00% 124.28% 192.62% 250.36%
PRUDENTIAL JENNISON PORTFOLIO 05/95 25.62% 205.41% N/A 243.05%
PRUDENTIAL STOCK INDEX PORTFOLIO 09/87 4.73% 156.65% 301.04% 409.01%
SP AGGRESSIVE GROWTH ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP AIM AGGRESSIVE GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP AIM GROWTH AND INCOME PORTFOLIO 08/00 N/A N/A N/A N/A
SP ALLIANCE LARGE CAP GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP ALLIANCE TECHNOLOGY PORTFOLIO 08/00 N/A N/A N/A N/A
SP BALANCED ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP CONSERVATIVE ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP DAVIS VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP DEUTSCHE INTERNATIONAL EQUITY PORTFOLIO 08/00 N/A N/A N/A N/A
SP GROWTH ASSET ALLOCATION PORTFOLIO 08/00 N/A N/A N/A N/A
SP INVESCO SMALL COMPANY GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP JENNISON INTERNATIONAL GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP LARGE CAP VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP MFS CAPITAL OPPORTUNITIES PORTFOLIO 08/00 N/A N/A N/A N/A
SP MFS MID CAP GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP PIMCO HIGH YIELD PORTFOLIO 08/00 N/A N/A N/A N/A
SP PIMCO TOTAL RETURN PORTFOLIO 08/00 N/A N/A N/A N/A
SP PRUDENTIAL U.S. EMERGING GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
SP SMALL/MID CAP VALUE PORTFOLIO 08/00 N/A N/A N/A N/A
SP STRATEGIC PARTNERS FOCUSED GROWTH PORTFOLIO 08/00 N/A N/A N/A N/A
JANUS ASPEN SERIES-GROWTH PORTFOLIO SERVICE SHARES 09/93 22.94% 197.27% N/A 246.84%
</TABLE>
3
