DRYDEN NATIONAL MUNICIPALS FUND, INC.


PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION DATED
FEBRUARY 27, 2004
SUPPLEMENT DATED NOVEMBER 23, 2004


Effective immediately, Robert Tipp and Dennis Hepworth have assumed
full portfolio management responsibility for the Dryden National
Municipals Fund, Inc.

To reflect these changes, the following replaces the fifth paragraph
in the section of the prospectus entitled "How the Fund is Managed -
Investment Adviser" with respect to the above-named Fund:

The Dryden National Municipals Fund, Inc. is managed by Portfolio
Managers: Robert Tipp and Dennis Hepworth using an institutional,
team-based approach.

The Portfolio Managers develop and coordinate the Fund's investment
strategies utilizing the following approach:

	"Top-down" investment decisions such as duration, yield curve,
	and sector positioning are made consistent with a PIM Fixed
	Income-wide Market Outlook, while "bottom-up" security selection
	is implemented by the Portfolio Managers.

	The Market Outlook is developed quarterly by a senior management
	team led by the Head of Fixed Income. The Market Outlook assesses
	the likely ranges of economic and interest rate scenarios to provide
	a Prudential Fixed Income-wide view on the economy, interest rates,
	yield curve, and risk levels in each major bond market, both U.S.
	and globally.

	The Portfolio Managers develop each Series' investment strategy
	within the framework of the Market Outlook and each Series'
	investment objective, restrictions, policies, and benchmark.

	The Portfolio Managers implement each Series' strategy through
	security selection and trading. All municipal bond security
	selection is based on fundamental credit research. A large credit
	research staff and extensive quantitative resources support the
	Portfolio Managers. Other sector teams may contribute to securities
	selection when appropriate.
	Each Series' risk exposure is monitored daily and actively managed
	to ensure consistency with the intended risk/return objectives.

Municipal Bonds - Portfolio Management Team

Robert Tipp CFA, is Chief Investment Strategist of PIM's Fixed Income Group.
He is co-portfolio manager of Municipal Bond, Core Plus, U.S. Government,
and Global Bond strategies, portfolio manager for asset-liability strategies
and TIPs portfolios, and has supervisory responsibility for money market
strategies.  Previously, Mr. Tipp served as co-head of Prudential Financial's
institutional fixed income business. Before joining Prudential Financial in
1991, Mr. Tipp was a Director in the Portfolio Strategies Group at the First
Boston Corporation, where he developed, marketed, and implemented strategic
portfolio products for money managers. Prior to that, Mr. Tipp was a senior
staff analyst at the Allstate Research & Planning Center, and managed a number
of fixed income and equity derivative strategies at Wells Fargo Investment
Advisors. He received a Bachelor of Science (BS) in Business Administration
with highest honors and a Master in Business Administration (MBA) in Finance
with honors from the University of California, Berkeley. Mr. Tipp holds the
Chartered Financial Analyst (CFA) designation.


Dennis Hepworth is a Principal and municipal bond portfolio manager for PIM's
Fixed Income Group. Mr. Hepworth is also Head of the Municipal Bond Research
unit at the PIM Fixed Income Group, where he covers real estate, housing
(multi-family & single family), public power, cogeneration and unrated
corporate backed bonds. Prior to joining the PIM Fixed Income Group in 1997,
Mr. Hepworth was a sell side municipal research analyst at Prudential
Securities, and a senior analyst in the Capital Markets Credit and Private
Client areas of Merrill Lynch. He received a Bachelor of Science (BS) in
Finance from the University of Tulsa.  Mr. Hepworth is a member of the
Municipal Analysts Group of New York and the National Federation of
Municipal Analysts.


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