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The Prudential Series Fund

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Small Capitalization Stock Portfolio<br />

Annual Returns (Class I Shares)<br />

60%<br />

45%<br />

38.27<br />

30%<br />

15%<br />

0<br />

-15%<br />

-30%<br />

-45%<br />

12.68<br />

1999<br />

12.81<br />

2000<br />

5.53<br />

2001<br />

-14.92<br />

2002<br />

2003<br />

22.04<br />

2004<br />

7.26<br />

2005<br />

14.67<br />

2006<br />

-0.53<br />

2007<br />

-31.04<br />

2008<br />

Best Quarter<br />

Worst Quarter<br />

20.50% (4th quarter of 2001) -25.12% (4th quarter of 2008)<br />

Average Annual Returns (as of 12/31/08)<br />

1 Year 5 Years 10 Years<br />

Class I Shares -31.04% 0.59% 4.98%<br />

S&P SmallCap 600 Index* -31.07% 0.88% 5.18%<br />

Lipper Variable Insurance Products (VIP) Small Cap Core <strong>Fund</strong>s Average** -35.54% -1.67% 4.20%<br />

*<strong>The</strong> Standard & Poor's SmallCap 600 Index (S&P SmallCap 600 Index) is a capital-weighted index representing the aggregate market value of the common equity of 600 small company stocks.<br />

<strong>The</strong> S&P SmallCap 600 Index is an unmanaged index that includes the reinvestment of all dividends but does not reflect the payment of transaction costs and advisory fees associated with an<br />

investment in the Portfolio. <strong>The</strong>se returns do not include the effect of any investment management expenses. <strong>The</strong>se returns would have been lower if they included the effect of these expenses.<br />

**<strong>The</strong> Lipper Average is calculated by Lipper Analytical Services, Inc. and reflects the return of certain portfolios underlying variable life and annuity products. <strong>The</strong> returns are net of investment fees<br />

and fund expenses but not product charges. <strong>The</strong>se returns would have been lower if they included the effect of product charges.<br />

30

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