Real Property Partnership

INVESTMENT OBJECTIVE
Seeks to preserve and protect capital, provide for compounding of income as a result of reinvestment of cash flow from investments and provide for increases over time through appreciation in the value of assets. There can be no assurance that the investment objective will be achieved.
INVESTMENT DISCIPLINE
The Partnership invests in direct ownership interests in income-producing real estate, participating mortgage loans (mortgages providing for participation in the revenues generated by, or the appreciation of, the underlying properties, or both) originated for the Partnership, and real property sale-lease backs negotiated by Prudential on behalf of the Partnership. Investing in real estate poses certain risks related to overall and specific economic conditions, as well as, risks related to an individual property, credit risk, and interest rate fluctuations. The Portfolio is not diversified and may not be appropriate for all investors. Investment in a non-diversified portfolio involves greater risks than a diversified investment, because a loss resulting from a particular security will have a greater impact on the portfolio's overall return. The Portfolio may actively and frequently trade its portfolio securities. High portfolio turnover results in higher transaction costs and can affect the Portfolio's performance.

Performance (As of 12/31/2009)

Performance Chart

	YTD	1-YEAR	3-YEAR	5-YEAR	10-YEAR	SINCE INCEPTION
PORTFOLIO	-18.25	-18.25	-8.58	-0.21	2.18	4.15

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS. THE INVESTMENT RETURN AND PRINCIPAL VALUE OF AN INVESTMENT WILL FLUCTUATE SO THAT AN INVESTOR'S UNITS, WHEN REDEEMED, MAY BE WORTH MORE OR LESS THAN THEIR ORIGINAL COST. CURRENT PERFORMANCE MAY BE LOWER OR HIGHER THAN THE PAST PERFORMANCE DATA QUOTED. PERFORMANCE INFORMATION AS OF THE MOST RECENT MONTH-END IS AVAILABLE AT WWW.PRUDENTIAL.COM.

The rates of return reflect the reinvestment of all dividends and capital gains, and the deduction of investment management fees and expenses. They do not reflect charges specific to your contract such as cost of insurance, mortality and expense risk charges, riders and sales charges. If they did, the performance quoted would be significantly lower. For the specific charges and expenses associated with your product, please refer to the prospectus. Returns of less than one year are not annualized. For variable life insurance products, refer to the hypothetical illustrations in the prospectus, which show the effect on performance of various assumptions regarding the cost of insurance protection. You may also obtain a personalized illustration of historical performance, which reflects the cost of your policy's insurance protection.

Fund Facts & Holdings (As of 12/31/2009 unless noted otherwise)

Portfolio Data²

Inception Date : 11/21/1986
Number of Holdings : 14
Net Assets : $186.1 Million

Major Real Estate Holdings (% of Real Estate Holdings-Holdings are subject to change)²
Broadstone Crossing - TX	13.1%
Hampton Towne Center - VA	11.6
Dunhill Trace Apartments - NC	9.3
Brookwood Valley Apartments - GA	9.0
Westminster Crossing East LLC	8.6
Portland Crown Plaza- OR	8.0
CARS Preferred Equity	6.3
Financial Plaza Office - TN	6.0
The Reserve	5.7
White Marlin Mall - MD	5.5
Westpark Office - TN	5.4
Summit at Cornell - OR	5.3
Warrenville Office - IL	4.2
Harnett Crossing	2.1

PORTFOLIO MANAGEMENT

Terry McHugh is a principal with Prudential Real Estate Investors. In addition to serving as portfolio manager for the Partnership, he is active in managing another separate account portfolio. Terry joined Prudential in 1976 and has been involved in the acquisition, asset management and disposition of real estate properties.

FIRM OVERVIEW

One of the world's oldest and largest financial service companies.
Prudential Financial companies, with approximately $558 billion in total assets under management and administration as of December 31, 2008, serve individual and institutional customers worldwide.

Investors should consider the contract and the underlying portfolios' investment objectives, risks, and charges and expenses carefully before investing. The contract's prospectus and the underlying portfolios' prospectus contain this and other important information. Read them carefully before investing or sending money.

FOR USE WITH THE PUBLIC ONLY WHEN PRECEDED OR ACCOMPANIED BY A CURRENT VARIABLE PRODUCT PROSPECTUS, PRODUCT MATERIAL (product brochure or illustration) AND THE CURRENT MONTHLY PERFORMANCE REVIEW FOR THE SPECIFIC PRODUCT.

²Source: Prudential Investment Management. Holdings are unaudited and subject to change.

Variable life insurance and variable annuities are issued by The Prudential Insurance Company of America, Newark, NJ, Pruco Life Insurance Company, Pruco Life Insurance Company of New Jersey, both located in Newark, NJ, or Prudential Annuities Life Assurance Corporation, Shelton, CT. Variable life insurance is distributed by Pruco Securities LLC, Newark, NJ. Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT. Both are members SIPC. All are Prudential Financial companies. Each company is solely responsible for their own respective financial conditions and contractual obligations.

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Prudential is authorized to transact business in all U.S. states and the District of Columbia. Product availability varies by state. © Copyright 2002 Prudential Financial, Inc., Newark, NJ, USA. All rights reserved.

IFS-A149082
Ed. 6/2008