Dryden High Yield Fund

Fund Share Prices as of market close, 11/20/2009

	NAV^#	CHANGE^##
Class A (Symbol: PBHAX)	5.12	0.00
Class B (Symbol: PBHYX)	5.11	0.00
Class C (Symbol: PRHCX)	5.11	0.00
Class R (Symbol: JDYRX)	5.12	0.00
Class Z (Symbol: PHYZX)	5.13	0.00

# "NAV" (Net Asset Value) is the $U.S. value of a single share of a fund, excluding any sales charges.

## "CHANGE" shows the change in $U.S. value over the previous day:

= Gain,

= Loss,

= No Change.

See Prices and Yields of other JennisonDryden mutual funds.

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. Maximum sales charges: Class A, 4.5%; Class B, 5.0%; and Class C, 1.0%.

Average Annual Total Returns

	Total Return (with sales charges) as of 10/31/2009					Total Return (without sales charges) as of 10/31/2009					Lipper Average as of 10/31/2009
Class	A	B	C	R	Z	A	B	C	R	Z
Year-to-Date	N/A	N/A	N/A	N/A	N/A	41.52	40.68	40.73	40.97	41.82	40.74
1-Year	30.85	31.41	35.47	36.42	37.39	37.01	36.41	36.47	36.42	37.39	35.59
3-Year	3.14	3.39	4.23	4.47	5.04	4.74	4.21	4.23	4.47	5.04	2.62
5-Year	4.52	4.81	4.96	N/A	5.77	5.49	4.96	4.96	N/A	5.77	4.08
10-Year	4.70	4.66	4.67	N/A	5.47	5.19	4.66	4.67	N/A	5.47	4.71
Since Incpt.	7.09	7.82	5.61	5.52	5.63	7.34	7.82	5.61	5.52	5.63	7.07

See Daily Returns,and Quarterly SEC Standardized Performance, and L, M, and X Performance.

See Calendar Year Performance for the Dryden High Yield Fund.

Total return describes the return to the investor before any sales charges are imposed. Lipper average is unmanaged, is based on the average return of all funds in this category, and does not take into consideration applicable sales charges. Unless noted otherwise, Lipper averages and index returns reflect performance beginning the closest month-end date to the Fund's inception. Benchmark since inception average is based on Class A inception date. SEC standardized return describes the return to the investor after maximum sales charges are imposed. All returns assume share price changes, as well as the compounding effect of reinvested dividends and capital gains. Returns may reflect fee waivers and/or expense reimbursements. Without such, returns would be lower. Inception: Class A, 1/22/1990; Class B, 3/29/1979; Class C, 8/1/1994; Class R, 6/3/2005; Class Z, 3/1/1996.

Morningstar Ratings as of 10/31/2009

Class	Overall	3-Year	5-Year	10-Year
A	out of 471 funds	out of 471 funds	out of 401 funds	out of 260 funds
B	out of 471 funds	out of 471 funds	out of 401 funds	out of 260 funds
C	out of 471 funds	out of 471 funds	out of 401 funds	out of 260 funds
R	out of 471 funds	out of 471 funds	out of 401 funds	out of 260 funds
Z	out of 471 funds	out of 471 funds	out of 401 funds	out of 260 funds

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. 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.
© 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.

Growth of $10,000

	Fund Return	$16,177
Class A	^*Benchmark Return	$16,007

^*Lipper High Current Yield Funds Average

This chart represents historical performance and does not assume the effects of sales charges. If shown with sales charges, performance would have been lower. Lipper High Current Yield Funds Average includes funds which aim at high (relative) current yield from fixed income securities, has no quality or maturity restrictions, and tends to invest in lower grade debt issues. An investment cannot be made directly in an index.

Fund Facts & Holdings

Objective: Maximum current income. Capital appreciation is a secondary objective. There can be no assurance that the Fund's objective will be achieved.

Dividends: Declared daily, paid monthly, if any. Dividends may be received in cash or reinvested free of charge.

Capital Gains: Paid annually, if any.

See Dividend and Capital Gains Distributions.

See most recent complete Portfolio Holdings list.

The following information is as of 10/31/2009 and is subject to change.

Total Net Assets: $1.327 Billion

Largest Holdings (% of Assets)
Ford Motor	2.3 %
HCA Healthcare	1.7
Biomet	1.6
Accellent	1.4
Apria Healthcare Group	1.4
MGM Mirage	1.4
Sungard Data Systems	1.4
Realogy	1.3
Sensata Tech	1.3
AES	1.2
Top Ten (of 497)	15.0 %

Credit Quality (% of Assets)
High Grade	5.5 %
BB	27.1
B	33.8
CCC or lower	32.9
Not Rated	1.1
Short-Term/Cash	-0.4

Fund Statistics
Average Credit Quality	B
Average Maturity (years)	4.8
Duration (years)	3.4
Standard Deviation (3 Year)	13.39

All data is unaudited and subject to change.

The Fund may invest in high yield ("junk") bonds, which are subject to greater credit and market risks; short sales, which involve costs and the risk of potentially umlimited losses; leveraging, which may magnify losses; 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 Fund's objective will be achieved.

Standard deviation depicts how widely returns vary around its average and is used to understand the range of returns most likely for a given fund. A higher standard deviation generally implies greater volatility. Due to data availability, statistics may not be as of the current reporting period.

Source: Prudential Investment Management, Inc. (PIM) and Lipper Inc. PIM is a Prudential Financial company.

Fund Managers

Prudential Fixed Income Management is the largest public fixed income asset management unit of Prudential Investment Management, Inc. (PIM), a registered investment adviser, and is responsible for Fund management. It is one of the most experienced fixed income managers in the United States, with $213 billion in assets under management (as of June 30, 2009). Institutional assets include both external and proprietary portfolios. Asset class breakdown is based on company estimates. Prudential Fixed Income Management offers a disciplined investment and risk management process, in-depth sector expertise, and one of the most sophisticated research organizations in the industry. Prudential Fixed Income Management or one of its predecessors has been managing proprietary fixed income portfolios since 1875 and accounts for institutional clients since 1928.

Paul Appleby of Prudential Fixed Income Management manages the Dryden High Yield Fund along with portfolio managers Stephen Haeckel, Robert Spano, Michael J. Collins, and Terence Wheat.

	Paul Appleby, CFA, is managing director and head of Prudential Fixed Income Management's Leveraged Finance Team, which includes the High Yield Sector Team and the Bank Loan Sector Team. Previously, he was director of Credit Research and chief equity strategist for Prudential Financial's proprietary portfolios. Mr. Appleby also was a high yield credit analyst and worked in Prudential Financial's private placement group. Before joining Prudential Financial in 1987, he was a strategic planner for Amerada Hess. Mr. Appleby received a BS in Economics from The Wharton School of the University of Pennsylvania and an MBA from the Sloan School at the Massachusetts Institute of Technology (MIT). He holds the Chartered Financial Analyst (CFA) designation. His investment career began in 1987.
	Stephen Haeckel is principal and high yield portfolio manager for Prudential Fixed Income Management's High Yield Team. Before assuming this role in 1999, Mr. Haeckel was a credit analyst. He has also worked in Prudential Financial's Corporate Finance and Financial Restructuring groups, managing Prudential Financial's private investments. Mr. Haeckel served on the board of directors of three private companies in conjunction with the Financial Restructuring Group. Prior to joining Prudential Financial in 1990, he was an Investment Officer at MONY Capital Management. Mr. Haeckel received a BS in Psychology from Dartmouth College and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University. His investment career began in 1985. Robert Spano, CFA, CPA, (not pictured) is a principal and high yield portfolio manager for Prudential Fixed Income Management's High Yield Bond Team. Prior to assuming his current position in 2007, Mr. Spano was a high yield credit analyst for 10 years in Prudential Fixed Income's Credit Research Unit, covering the health, lodging, consumer, gaming, restaurants, and chemical industries. Earlier, he worked as an investment analyst in the Project Finance Unit of Prudential Financial's private placement group. Mr. Spano also held positions in the internal audit and risk management units of Prudential Securities. He received a BS in Accounting from the University of Delaware and an MBA from New York University. Mr. Spano holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations. His investment career began in 1997.
	Michael J. Collins, CFA, is principal for Prudential Fixed Income Management's High Yield Team, responsible for investment strategy and risk management. Prior to his current role, Mr. Collins was senior investment strategist, covering all fixed income sectors. Previously, Mr. Collins was a credit research analyst. He also developed proprietary quantitative international interest rate and currency valuation models for our global bond unit. Mr. Collins began his career at Prudential Financial in 1986 as a software applications designer. He received a BS in Mathematics and Computer Science from the State University of New York at Binghamton and an MBA in Finance from New York University. Mr. Collins holds the Chartered Financial Analyst (CFA) designation and is a Fellow of the Life Management Institute (FLMI). His investment career began in 1993.
	Terence Wheat, CFA, is principal and high yield portfolio manager for Prudential Fixed Income Management's High Yield Team. Prior to assuming his current position in 2005, Mr. Wheat spent 12 years as a credit analyst in Prudential Fixed Income Management�s Credit Research Group, where he was responsible for the consumer products, gaming and leisure, retail, supermarkets, and textile/apparel industries. Mr. Wheat covered high yield bonds from 1998 to 2003, and investment grade issues from 1993 to 1998. Earlier, he worked for Prudential's Financial Management Group and Individual Insurance Unit. Mr. Wheat joined Prudential Financial in 1988. He received a BS in Accounting and an MBA from Rider University. Mr. Wheat holds the Chartered Financial Analyst (CFA) designation. His investment career began in 1993.

Prospectus & Shareholder Reports

Dryden High Yield Fund:

Statement of Additional Information

See Sales Load Breakpoints.

See Prospectuses & Shareholder Reports of other JennisonDryden funds.

This Fund is available in the QP(k) and Lin(k) programs. As of August 1, 2002, establishing new qualified plans in these programs was discontinued. Current plan participants in qualified plans may continue to make contributions.

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. JennisonDryden, Jennison, Dryden, Target, Pru, Prudential Financial, and the Rock Prudential logo are registered service marks of The Prudential Insurance Company of America, Newark, NJ, and its affiliates.

Mutual funds are not insured by the FDIC or any federal government agency, are not a deposit of or guaranteed by any bank or any bank affiliate, and may lose value.

0156952-00002-00 Ed. 10/2009