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Press release from Business Wire

Prudential Short Duration High Yield Income Fund Launches

Monday, October 29, 2012

Prudential Short Duration High Yield Income Fund Launches10:05 EDT Monday, October 29, 2012 NEWARK, N.J. (Business Wire) -- Prudential Investments has launched the Prudential Short Duration High Yield Income Fund (A: HYSAX), a mutual fund that seeks to respond to the growing investor demand for income in a historically low yielding market. The Fund, managed by Prudential Fixed Income's Global Leveraged Finance Team, offers investors the potential for high income and the ability to potentially benefit from attractive risk-adjusted returns in the short duration, high yield market. “We believe the Fund will help investors address the challenge of finding yield in today's low interest rate environment, but with potentially less risk than lower-rated high yield bonds,” said Stuart Parker, president of Prudential Investments. Prudential Fixed Income's 12-member Global Leveraged Finance portfolio management team averages 20 years of experience and includes seven high yield managers and five bank loan mangers, supported by 28 experienced credit analysts. Prudential Fixed Income, with $348 billion in assets under management as of June 30, 2012 is part of Prudential Financial and manages Prudential Investments' fixed income funds. Since 1875, Prudential Fixed Income has been a credit-research-driven fixed income manager keenly focused on managing risk. Prudential Investments, the mutual fund and wealth management business of Prudential Financial, Inc. (NYSE: PRU), oversees Prudential Mutual Funds, which focuses on traditional mutual funds, separately managed accounts, and Investment Only Defined Contribution businesses. Prudential Investments also maintains two other business units, Wealth Management Solutions and Strategic Investment Research Group. Prudential Financial, Inc., a financial services leader with approximately $961 billion of assets under management as of June 30, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/. The Fund invests in high yield (“junk”) bonds, which are subject to greater credit, liquidity and market risks; derivative securities, which may carry market, credit, and liquidity risks; foreign securities, which are subject to currency fluctuation and political uncertainty; emerging markets, which are subject to greater volatility and price declines; liquidity risk, which exists when particular investments are difficult to sell; and small- and mid-cap issuers, which may be subject to more erratic price and market movements than large-cap issuers. Fixed income investments are subject to interest rate risk, where their value will decline as interest rates rise; credit risk, which is the inability to make timely principal and interest payments; market risk, which is the risk that the values of the Fund's investments may move up or down, sometimes rapidly or unpredictably; and for issuer related reasons. Actively managed funds are subject to management risk, where the investment techniques used by the Fund may not have the desired results. The Fund's net asset value may decline over time to the extent that the Fund buys fixed income securities at a premium. The risks associated with the Fund are more fully explained in the prospectus. There is no guarantee the Fund's objective will be achieved. Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and the summary prospectus contain this and other information about the fund. Contact your financial professional to obtain the prospectus and the summary prospectus. Read them carefully before investing. Mutual funds are distributed by Prudential Investment Management Services LLC (PIMS). Prudential Fixed Income is a unit of Prudential Investment Management, Inc. (PIM), a registered investment advisor. PIMS and PIM are Prudential Financial companies. Prudential Investments, Prudential, the Prudential logo, Bring Your Challenges, and the Rock symbol are service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide. Control # 0233821-00001-00 Prudential Financial, Inc.Darrell Oliver,973-802-9627darrell.oliver@prudential.com