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The Prudential Series Fund

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FEES AND EXPENSES OF THE PORTFOLIOS<br />

Class I shares. Investors incur certain fees and expenses in connection with an investment in the <strong>Fund</strong>’s Portfolios. <strong>The</strong> following table<br />

shows the fees and expenses that you may incur if you invest in Class I shares of the Portfolios through a variable Contract. <strong>The</strong> fees<br />

and expenses shown below are based on the fees and expenses incurred in the year ended December 31, 2008 (except as explained<br />

in the footnotes) and are expressed as a percentage of the average daily net assets of each Portfolio.<br />

<strong>The</strong> table does not include Contract charges. Because Contract charges are not included, the total fees and expenses that you will<br />

incur will be higher than the fees and expenses set forth in the following table. See the accompanying Contract prospectus for more<br />

information about Contract charges.<br />

Class I Shares: Annual Portfolio Operating Expenses (expenses that are deducted from Portfolio assets)<br />

Shareholder<br />

Fees (fees<br />

paid directly<br />

from your<br />

investment)<br />

Management<br />

Fees 4<br />

Distribution<br />

(12b-1) Fees<br />

Other<br />

Expenses<br />

Acquired<br />

Portfolio<br />

Fees and<br />

Expenses 1<br />

Total Annual<br />

Portfolio<br />

Operating<br />

Expenses 2<br />

Conservative Balanced Portfolio None 0.55% None 0.04% - 0.59%<br />

Diversified Bond Portfolio None 0.40 None 0.05 - 0.45<br />

Equity Portfolio None 0.45 None 0.03 - 0.48<br />

Flexible Managed Portfolio None 0.60 None 0.04 - 0.64<br />

Global Portfolio None 0.75 None 0.09 - 0.84<br />

Government Income Portfolio None 0.40 None 0.13 - 0.53<br />

High Yield Bond Portfolio None 0.55 None 0.03 - 0.58<br />

Jennison Portfolio None 0.60 None 0.03 - 0.63<br />

Money Market Portfolio None 0.40 None 0.03 - 0.43<br />

Natural Resources Portfolio None 0.45 None 0.05 - 0.50<br />

Small Capitalization Stock Portfolio None 0.40 None 0.07 - 0.47<br />

Stock Index Portfolio None 0.35 3 None 0.02 - 0.37<br />

Value Portfolio None 0.40 None 0.03 - 0.43<br />

1<br />

Some of the Portfolios invest in other investment companies (the Acquired Portfolios). For example, some Portfolios invest in other funds, including the Dryden Core Investment <strong>Fund</strong>. Investors in a<br />

Portfolio indirectly bear the fees and expenses of the Acquired Portfolios. <strong>The</strong> expenses shown in the column "Acquired Portfolio Fees and Expenses" represent a weighted average of the expense<br />

ratios of the Acquired Portfolios in which each Portfolio invested during the year ended December 31, 2008. <strong>The</strong> SP Asset Allocation Portfolios do not pay any transaction fees when purchasing or<br />

redeeming shares of the Acquired Portfolios.<br />

When a Portfolio's "Acquired Portfolio Fees and Expenses" are less than 0.01%, such expenses are included in the column titled "Other Expenses." This may cause the Total Annual Portfolio<br />

Operating Expenses to differ from those set forth in the Financial Highlights tables of the respective Portfolios.<br />

2<br />

<strong>Prudential</strong> Investments LLC has voluntarily agreed to waive a portion of its management fee and/or limit total expenses (expressed as an annual percentage of average daily net assets) for certain<br />

Portfolios of the <strong>Fund</strong>. <strong>The</strong>se arrangements, which are set forth as follows for Class I shares, may be discontinued or otherwise modified at any time. Government Income Portfolio: 0.75%; Stock<br />

Index Portfolio: 0.75%.<br />

3<br />

<strong>The</strong> Portfolio's contractual management fee rate is as follows: 0.35% for average net assets up to $4 billion, and 0.30% for average net assets in excess of $4 billion.<br />

4<br />

<strong>The</strong> management fee rate shown in the "management fees" column represents the actual fee rate paid by the indicated Portfolio for the fiscal year ended December 31, 2008, except that the fee<br />

rate shown does not reflect the impact of any voluntary management fee waivers that may be applicable and which would result in a reduction in the fee rate paid by the Portfolio. <strong>The</strong> management<br />

fee rate for certain Portfolios may include "breakpoints" which are reduced fee rates that are applicable at specified levels of Portfolio assets; the effective fee rates shown in the table reflect and<br />

incorporate any fee "breakpoints" which may be applicable.<br />

33

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