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From: Registered Rep. and Prudential [[email protected]]

Sent: Monday, March 30, 2009 10:07 AM

Subject: Client-Approved Tool: Compelling Fixed Income Opportunities

This message has been sent by Registered Rep. on behalf of Prudential.

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Market Turmoil: Strategies to Help Ease Client Concerns

Help Clients Benefit
From Historically Wide Spreads

Download Client-Approved Research: Opportunities in Fixed income

The ongoing credit crisis has caused extremely wide spreads, leading to investment opportunities in corporate and municipal bonds. This client-approved piece from JennisonDryden can help you move clients off the sidelines by making the case for these key sectors.

Corporate Bonds:
Wide Spreads, Low Defaults

Spreads in the investment-grade corporate bond sector have reached all-time highs, yet defaults have remained low—resulting in attractive yields and prices, with the potential for total return.

Municipal Bonds:
Muni to Treasury Ratio at Historic Levels

The Muni to Treasury ratio is widely used to measure the value of municipal bonds. Due to recent volatility, today’s relatively high Muni to Treasury ratio may offer attractive opportunities for your clients.

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Contact us to order complimentary copies of this piece for your clients or to discuss how the Dryden Short-Term Corporate Bond Fund and the Dryden Municipal Bond Fund/High Income Series can complement your clients’ portfolios. Also, ask about our complete library of sales tools and business-building ideas.

Download Client-Approved Research: Opportunities in Fixed Income

Download Report

Order Copies

Call:

JennisonDryden Sales Desk at (800) 257-3893

Email:

[email protected]


The Power of Partnership:*

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Sign up to receive information about client business-building ideas, sales tools, and other timely advice

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Register for the JennisonDryden website

Save the Date: April 7, 2009 at 2 p.m. ET:
Conference Call: The Muni Opportunity*

Join us as Susan Courtney, head of Prudential Fixed Income Management's Municipal Bond team, discusses opportunities in today's municipal bond market. Call the Sales Desk at (800) 257-3893 for details.

* NOTE: Only Registered Reps may sign up, register or join the conference call

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Fixed Income Solutions from JennisonDryden

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Dryden Short-Term Corporate Bond Fund

Class Z shares
StarStarStarStarStar

Class A shares
StarStarStarStar

Morningstar Overall RatingTM out of 370 Short-Term Bond funds, as of 2/28/2009.*

Dryden Municipal Bond Fund/
High Income Series

Class Z shares
StarStarStarStarStar

Class A shares
StarStarStarStar

Morningstar Overall RatingTM out of 115 High Yield Muni funds, as of 2/28/2009.*

*Morningstar measures risk-adjusted returns. The overall rating is a weighted average based on the Fund's 3-, 5-, and 10-year star rating.¹

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80%+ of portfolio dedicated to short-term corporates—the most of any short-term bond fund

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14 consecutive years of positive returns;
18 out of 19 years since inception (9/89)†

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Attractive yield: 4.45%
(30-day SEC Yield as of 2/28/09)†

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Combines low duration with high quality bonds

† Class A shares

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Has ranked in top quartile for 1-, 3-, 5-, and 10-year periods²

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Recorded positive returns in 8 out of the last 11 years†

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Unique blended style combines high quality and low quality municipal bonds

Symbols:

A: PBSMX

B: PSMBX

C: PIFCX

R: JDTRX

Z: PIFZX

View:

Profile | Performance | Pricing

Symbols:

A: PRHAX

B: PMHYX

C: PHICX

Z: PHIZX

View:

Profile | Performance | Pricing

Quarterly SEC Standardized Performance (as of 12/31/08)

Class A

1 Yr.

3 Yrs.

5 Yrs.

10 Yrs.

Life

Incep
Date

Dryden Short-Term Corporate Bond Fund

Total Returns
(w/o Sales Charge)

0.77%

3.56%

2.70%

4.15%

5.72%

9/89

SEC Standardized Returns
(w/ Sales Charge)

-2.50%

2.43%

2.02%

3.81%

5.54%

9/89

Dryden Municipal Bond Fund/High Income Series

Total Returns
(w/o Sales Charge)

-15.27%

-3.41%

0.32%

1.97%

4.67%

1/90

SEC Standardized Returns
(w/ Sales Charge)

-18.66%

-4.72%

-0.49%

1.55%

4.45%

1/90


Past performance does not guarantee future results, and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. For the most recent month-end performance, visit our website at www.jennisondryden.com Dryden Short-Term Corporate bond Fund: Maximum sales charges: Class A,3.25%;Gross operating expenses: Class A, 0.90%; Net operating expenses apply to:Class A, 0.85% after contractual reduction through 4/30/2009. Dryden Municipal Bond Fund/High Income Series: Maximum sales charges: Class A,4.0% Gross operating expenses: Class A, 0.92%Net operating expenses apply to: Class A, 0.87%; after contractual reduction through 8/31/2009.

1 The Morningstar Rating may not be customarily calculated based on adjusted historical returns. If so, this investment’s independent Morningstar Rating metric is compared against the retail mutual fund universe breakpoints to determine its hypothetical rating for certain time periods. The Dryden Municipal Bond Fund/High Income Series’s Class A 3-, 5-, and 10-year ratings are 4 stars out of 115 funds, 4 stars out of 107 funds, and 4 stars out of 77 funds, respectively. The DrydenMunicipal Bond Fund/High Income Series’s Class Z 3-, 5-, and 10-year ratings are 5 stars out of 115 funds, 5 stars out of 107 funds, and 5 stars out of 77 funds, respectively. The Dryden Short-Term Corporate Bond Fund’s Class A 3-, 5-, and 10-year ratings are 3 stars out of 370 funds, 3 stars out of 317 funds, and 4 stars out of 167 funds, respectively. The Dryden Short-Term Corporate Bond Fund’s Class Z 3-, 5-, and 10-year ratings are 5 stars out of 370 funds, 4 stars out of 317 funds, and 5 stars out of 167 funds, respectively. Other share classes may have different performance characteristics. Past performance does not guarantee future results. For each fund with at least a 3-year history, Morningstar calculates a Morningstar rating (based on a Morningstar risk-adjusted return measure that accounts for variation in a fund’s monthly performance, including the effects of sales charges), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, and the next 35% receive 3 stars (each share class is rated separately, which may cause slight variations in the distribution percentages). The overall Morningstar rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar rating metrics. The Fund was rated against U.S.-domiciled funds.

2 Source: Morningstar, Prudential Investments. Ranking represents the fund's standing across all funds in the Municipal High Yield Bond category, 1%=highest; 100=lowest. The fund's A shares ranked 12, 10 , 10, and 10 out of 145, 115, 107, and 77 funds over the 1-, 3-, 5-, and 10-year time periods, respectively as of 2/28/09. Morningstar rankings measure total return and do not include the effect of sales charges.

(c) 2009 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

For more information, visit our website JennisonDryden.com or call our Sales Desk at (800) 257-3893, between 8 a.m. and 6 p.m. Eastern time, Monday through Friday.

Fixed Income investments are subject to interest rate risk whereby their value will decline as interest rates rise.

Dryden Municipal Bond Fund/High Income Series may invest in high yield (“junk”) bonds, which are subject to greater credit and market risks. Dryden Short-Term Corporate Bond Fund may invest in high yield (“junk”) bonds, which are subject to greater credit and market risks; mortgage-backed securities, which are subject to prepayment and extension risks; and derivative securities, which may carry market, credit, and liquidity risks. These risks may result in greater share price volatility. There is no assurance the Funds’ objectives will be achieved.

Consider a fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the fund. Read it carefully before investing. Contact the JennisonDryden Sales Desk at (800) 257-3893 to obtain a copy of the prospectus.

Securities products and services are distributed by Prudential Investment Management Services LLC, a Prudential Financial company, and member SIPC. JennisonDryden, Prudential Financial, and the Rock Prudential logo are registered service marks of The Prudential Insurance Company of America, Newark, NJ, and its affiliates.

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IFS-A162533 Ed. 3/2009

Mutual Funds:

ARE NOT INSURED BY THE FDIC OR
ANY FEDERAL GOVERNMENT AGENCY

MAY LOSE
VALUE

ARE NOT A DEPOSIT OF OR GUARANTEED
BY ANY BANK OR ANY BANK AFFILIATE

FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH THE PUBLIC.

(c) 2009 The Prudential Insurance Company of America,
751 Broad Street, Newark, NJ 07102-3777. All rights reserved. | PRIVACY

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