Calendar Year Performance
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. The current maximum sales charges that may be applied to the fund listed below are Class A, 4.0%; Class B, 5.0%; Class C, 1.0%. Gross operating expenses: Class A, 0.94%; Class B, 1.14%; Class C, 1.64%; Class Z, 0.64%. Net operating expenses apply to: Class A, 0.89%; Class C, 1.39%, after contractual reduction through 12/31/2010.
Dryden California Municipal Fund/California Income Series
Total Return (without sales charges)
as of 12/311
Distribution as of 12/312 Net Asset Value as of 12/31
Year A B C Z A B C Z A B C Z
2008 -6.47 -6.70 -6.92 -6.12 0.5095 0.4844 0.4603 0.5375 9.41 9.41 9.41 9.42
2007 2.12 1.86 1.62 2.38 0.5237 0.4964 0.4707 0.5509 10.58 10.58 10.58 10.58
2006 4.93 4.67 4.42 5.11 0.5558 0.5283 0.5018 0.5840 10.88 10.88 10.88 10.88
2005 4.15 3.89 3.63 4.41 0.5385 0.5108 0.4835 0.5662 10.91 10.91 10.91 10.92
2004 3.94 3.68 3.42 4.30 0.4428 0.4154 0.3880 0.4703 11.00 11.00 11.00 11.01
2003 4.76 4.50 4.24 5.02 0.6269 0.5992 0.5715 0.6547 11.02 11.02 11.02 11.02
2002 8.66 8.39 8.11 8.93 0.4873 0.4601 0.4316 0.5148 11.13 11.13 11.13 11.13
2001 3.37 3.03 2.78 3.62 0.5219 0.4955 0.4691 0.5484 10.71 10.71 10.71 10.71
2000 12.89 12.72 12.44 13.18 0.5282 0.5024 0.4765 0.5540 10.87 10.88 10.88 10.87
1999 -4.13 -4.46 -4.70 -3.89 0.5565 0.5291 0.5020 0.5830 10.13 10.13 10.13 10.13
1998 6.45 6.12 5.85 6.55 0.5831 0.5389 0.5111 0.5939 11.13 11.14 11.14 11.13
1997 10.28 9.84 9.57 10.49 0.5997 0.5574 0.5306 0.6101 11.02 11.02 11.02 11.02
1996 4.36 3.95 3.69 N/A 0.6135 0.5721 0.5462 0.1606 10.57 10.57 10.57 10.56
1995 18.53 18.07 17.77 N/A 0.6470 0.6064 0.5809 N/A 10.74 10.74 10.74 N/A
1994 -3.70 -4.08 N/A N/A 0.6435 0.6034 0.2330 N/A 9.65 9.65 9.65 N/A
1993 14.21 N/A N/A N/A 0.7700 0.0408 N/A N/A 10.68 10.68 N/A N/A
1992 10.09 N/A N/A N/A 0.7384 N/A N/A N/A 10.06 N/A N/A N/A
1991 11.02 N/A N/A N/A 0.7264 N/A N/A N/A 9.84 N/A N/A N/A
1990 N/A N/A N/A N/A 0.0370 N/A N/A N/A 9.55 N/A N/A N/A
Source: Prudential Investment Management, Inc. (PIM). PIM is a Prudential Financial company.

All returns are unaudited and subject to change without notice.

1Total Return describes the return to investors before any sales charges are imposed as of 12/31. For fund returns for all time periods and returns with sales charges, please visit our daily performance page.

2Distributions consist of all dividends and capital gains paid by the fund as of 12/31.

This material must be accompanied or preceded by a current prospectus. 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. For more information about a fund, click on the prospectus link above.

Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and member SIPC. Jennison, Dryden, JennisonDryden, Target, Pru, Prudential, Prudential Financial, and the Rock Prudential logo are registered service marks of The Prudential Insurance Company of America, Newark, NJ, and its affiliates.
IFS-A118134 Ed. 4/2009