EX-99.77Q1 OTHR EXHB

This page being
FINANCIAL INFORMATION (Cont. from Screen 33)           filed for series 3.


EXPENSES (Negative answers are allowed For the period covered by this form

            on this screen for 72Z only)                  ($000's omitted)

72.Y) Expense reimbursements ----------------------------- $      	0

   Z) Net investment income ------------------------------ $            0

	  AA) Realized capital gains ----------------------------- $      0

	  BB) Realized capital losses ---------------------------- $      0

  CC) 1. Net unrealized appreciation during the period --- $            0

      2. Net unrealized depreciation during the period --- $   		0

  DD) 1. Total income dividends for which record date
         passed during the period ------------------------ $            0

2. Dividends for a second class of open-end
         company shares -----------------------------------$            0

  EE) Total capital gains distributions for which
      record date passed during the period --------------- $            0
73. Distributions per share for which record date passed during the period:
       NOTE: Show in fractions of a cent if so declared.
"   A) 1. Dividends from net investment income ------$ 0.4665, 0.4388
"      2. Dividends for a second class of open-end---
          company shares ---------------------------------- $   0.4114, 0.4952
   B) Distribution of capital gains ---------------$   0.0748
   C) Other distributions --------------------------------- $   0.0000
                              SCREEN NUMBER: 34


This page being
(Continued from Screen 35)                                filed for series 3.
   Condensed balance sheet data:         As of the end of current reporting
                                        period (000's omitted except for per
                                        share amounts and number of accounts)
74.O) Payables for portfolio instruments purchased --------------- $        0
   P) Amounts owed to affiliated persons --------------------------$        0
   Q) Senior long-term debt ---------------------------------------$        0
   R) Other liabilities:1. Reverse repurchase agreements --------- $        0
                        2. Short sales --------------------------- $        0
                        3. Written options ----------------------- $        0
                        4. All other liabilities ----------------- $        0
   S) Senior equity -----------------------------------------------$        0
   T) Net assets of common shareholders ---------------------------$        0
   U) 1. Number of shares outstanding -----------------------------$	    0
      2. Number of shares outstanding of a second class of shares
         of open-end company ---------------------------------------        0
"   V) 1. Net asset value per share(to nearest cent)-- $10.94, 10.94

       2. Net asset value per share of a second class of open-end
"         company shares (to nearest cent) ----------- $10.94, 10.95
   W) Mark-to-market net asset value per share
      for money market funds only (to 4 decimals) -----------------$   0.0000
   X) Total number of shareholder accounts ------------------------$        0
   Y) Total value of assets in segregated accounts ----------------$        0
                              SCREEN NUMBER: 36


Because the electronic format for filing Form N-SAR does not provide
"adequate space for responding to Items 73A1&2 and 74V1&2 correctly, "
the correct answers are as above.
Dryden California Municipal Fund/
California Income Series

EX-99.77Q1 OTHR EXHB

DRYDEN CALIFORNIA MUNICIPAL FUND
Three Gateway Center
100 Mulberry Street
Newark, New Jersey 07102


			October 30, 2006


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549


	Re:	Dryden California Municipal Fund
		File No. 811-4024


Ladies and Gentlemen:

		Please find enclosed the Annual Report
on Form N-SAR for the Fund for the fiscal year ended
August 31, 2006. This Form was filed electronically
using the EDGAR System.

								Very truly yours,



/s/ Jonathan D. Shain
			Jonathan D. Shain
			Assistant Secretary

Enclosures




This report is signed on behalf of the Registrant in the City of
 Newark and State of New Jersey
on the 26th day of October 2006.


DRYDEN CALIFORNIA MUNICIPAL FUND



Witness  /s/ George Chen	By:  /s/ Jonathan D. Shain
	George Chen		Jonathan D. Shain
			Assistant Secretary









L:\MFApps\CLUSTER 3\N-SAR\CMF\2006\annual Cover-Sig.doc

EX-99.77D POLICIES

Dryden California Municipal Fund
For the annual period ended 8/31/06
File number 811-04024

SUB-ITEM 77D
Policies With Respect to Security Investment


Jennison 20/20 Focus Fund
Jennison Blend Fund, Inc.
Jennison Natural Resources Fund, Inc.
Jennison Small Company Fund, Inc.
Jennison U.S. Emerging Growth Fund, Inc.
Jennison Value Fund
Dryden California Municipal Fund
Dryden Global Total Return Fund, Inc.
Dryden Government Income Fund, Inc.
Dryden Government Securities Trust
Dryden High Yield Fund, Inc.
Dryden Index Series Fund, Inc.
Dryden Municipal Bond Fund
Dryden Municipal Series Fund
Dryden National Municipals Fund, Inc.
Dryden Short-Term Bond Fund, Inc.
Dryden Small Cap Core Equity Fund, Inc.
Dryden Tax-Free Money Fund
Dryden Tax-Managed Funds
Dryden Total Return Bond Fund, Inc.
MoneyMart Assets, Inc.
Prudential Investment Portfolios, Inc.
Prudential World Fund, Inc.
Nicholas-Applegate Fund, Inc.
Strategic Partners Asset Allocation Funds, Inc.
Strategic Partners Mutual Funds, Inc.
Strategic Partners Opportunity Funds
Strategic Partners Real Estate Fund, and
Strategic Partners Style Specific Funds, Inc.

Supplement dated May 24, 2006 to the Prospectus

This supplement amends the Prospectus of each of the funds referenced
 below and is in addition to any existing supplement to a Fund's Prospectus.

JennisonDryden Mutual Funds
Jennison 20/20 Focus Fund
Jennison Blend Fund
Jennison Conservative Growth Fund
Jennison Equity Opportunity Fund
Jennison Financial Services Fund
Jennison Global Growth Fund
Jennison Growth Fund
Jennison Health Sciences Fund
Jennison Natural Resources Fund
Jennison Select Growth Portfolio
Jennison Small Company Fund
Jennison Technology Fund
Jennison U.S. Emerging Growth Fund
Jennison Utility Fund
Jennison Value Fund
JennisonDryden Conservative Allocation Fund
JennisonDryden Growth Allocation Fund
JennisonDryden Moderate Allocation Fund
Dryden Active Allocation Fund
Dryden Global Total Return Fund
Dryden Government Income Fund

Dryden High Yield Fund
Dryden International Equity Fund
Dryden Large Cap Core Equity Fund
Dryden National Municipals Fund
California Income Series
California Series
Florida Series
New Jersey Series
New York Series
Pennsylvania Series
Dryden Short-Term Corporate Bond Fund
Dryden Small Cap Core Equity Fund
Dryden Stock Index Fund
Dryden Strategic Value Fund
Dryden Tax-Free Money Fund
Dryden Total Return Bond Fund
Dryden Ultra Short Bond Fund
High Income Series
Insured Series
Money Market Series
MoneyMart Assets
Strategic Partners Mutual Funds
Strategic Partners Balanced Fund
Strategic Partners Capital Growth Fund
Strategic Partners Concentrated Growth Fund
Strategic Partners Conservative Allocation Fund
Strategic Partners Core Value Fund
Strategic Partners Equity Income Fund
Strategic Partners Growth Allocation Fund
Strategic Partners High Yield Bond Fund
Strategic Partners International Growth Fund
Strategic Partners International Value Fund
Strategic Partners Large Cap Value

Strategic Partners Managed OTC Fund
Strategic Partners Mid Cap Growth Fund
Strategic Partners Mid Cap Value Fund
Strategic Partners Moderate Allocation Fund
Strategic Partners Money Market Fund
Strategic Partners New Era Growth
Strategic Partners Real Estate Fund
Strategic Partners Small Cap Growth Fund
Strategic Partners Small Cap Value
Strategic Partners Technology Fund
Strategic Partners Total Return Bond

Nicholas-Applegate Growth Equity Fund



1. The table captioned "Shareholder Fees" under the caption
 "Fees and Expenses" is amended by adding the following as the
 final row in the table:

Shareholder Fees (paid directly from your investment)

Class A
Class B
Class C
Class R
Class Z
Class I
Class Y
Small balance account fee
beginning on or about November 17,  2006
$15
$15
$15
None
None


None


$15


2. A new second note is added to the "Notes to Fees and Expenses Table,"
 as follows:

   Beginning on or about November 17, 2006, if the value of your
 account is
 less than $2,500, the Fund will deduct a $15 annual small balance
 account fee from your account.  The small balance account fee will
 also be charged on accounts invested in Class L, M or X shares (these
share classes are currently not offered for sale).  Thereafter, beginning
 in 2007, the $15 annual small balance account fee will be assessed
 during the 4th calendar quarter of each year.  Any applicable CDSC on
 the shares redeemed to pay the $15 small balance account fee will be
 waived.  The $15 small balance account fee will not be charged on: (i)
 accounts during the first six months from inception of the account, (ii)
 omnibus accounts, (iii) institutional accounts,  (iv) group retirement
 plans, and (v) Automatic Investment Plan ("AIP") accounts or
employee savings plan accounts.   For more information, see
 "Purchase, Redemption and Pricing of Fund Shares - Small Balance
 Account Fee" in the Statement of Additional Information.


3. The table under the caption  "Share Class Comparison" is
amended by deleting the columns headed Class A, Class B and
Class C, and replacing them with the following:


Class A
Class B
Class C
Minimum purchase amount
         $1,000
$1,000
$2,500
Minimum purchase amount
beginning on or about November 17, 2006
$2,500
$2,500
$2,500
Minimum amount for subsequent purchases
$100
$100
$100
Maximum initial sales charge
5.5% of the public offering price
None
None
Contingent Deferred Sales Charge (CDSC)
(as a percentage of the lower of original purchase
price or sale proceeds)
1% (on investments of $1 million or more redeemed within 1 year)
5% (Year 1)
4% (Year 2)
3% (Year 3)
2% (Year 4)
1% (Year 5/6)
0% (Year 7)
1% (year 1)
Annual distribution and service (12b-1) fees
(shown as a percentage of average daily net assets)
..30 of 1%
(.25 of 1% currently)
1%
1%


4. The first note under the caption  "Notes to Share
 Class Comparison Table" is deleted and replaced with the following:

  The minimum initial and subsequent investment requirements do not
 apply to employee savings plan accounts or payroll deduction plan
 accounts.   The minimum initial and subsequent investment for
 purchases made through the Automatic Investment Plan ("AIP") is
 $50.   Effective on or about November 17, 2006: (i) the minimum
 initial investment for retirement accounts and custodial accounts for
 minors is $1,000, and (ii) subsequent investments through newly-
established AIP accounts must be at least $1,200 annually.   Prior
 thereto, the minimum investment requirements do not apply to certain
 retirement and custodial accounts for minors.  For more information,
 see "Additional Shareholder Services."

5. The second and third notes under the caption
"Notes to Share Class Comparison Table"
 are deleted and replaced with the following:

  Beginning on or about November 17, 2006, if the value of your
 Class A, Class B, Class C or Class Y account is less than
 $2,500, the Fund will deduct a $15 annual small balance
 account fee from your account.  Thereafter, beginning in 2007,
 the $15 annual small balance account fee will be assessed
 during the 4th calendar quarter of each year.   Any applicable
 CDSC on the shares redeemed to pay the $15 small balance
account fee will be waived. The $15 small balance account fee
 will not be charged on: (i) accounts during the first six months
from inception of the account, (ii) omnibus accounts, (iii
) institutional accounts,  (iv) group retirement plans, and (v)
 Automatic Investment Plan ("AIP") accounts or employee
savings plan accounts.    For more information, see "Fees and
Expenses" and the table captioned "Shareholder Fees" in this
Prospectus, and "Purchase, Redemption and Pricing of Fund
 Shares - Small Balance Account Fee" in the Statement of
Additional Information.

 For more information about the CDSC and how it is calculated,
 see "How to Sell Your Shares -- Contingent Deferred Sales
 Charge (CDSC)."

 Investors who purchase $1 million or more of Class A
 shares and sell these shares within 12 months of purchase
 are subject to a 1% CDSC, although they are not subject
 to an initial sales charge.  The CDSC is waived for
 purchases by certain retirement or benefit plans.


6.  The following is added immediately following
 the caption "Qualifying for Class Z Shares"

Institutional Investors.   Various institutional
 investors may purchase Class Z shares, including
 corporations, banks, governmental entities
, municipalities, and IRS section 501 entities, such
 as foundations and endowments.  The minimum
initial investment for such investors is $10 million.
  Institutional investors are responsible for indicating
 their eligibility to purchase Class Z Shares at the
time of purchase.

7. The section captioned "How to Sell Shares - Small Accounts"
 is deleted and replaced with the following:

Involuntary Redemption of Small Accounts.   Beginning on or
 about November 10, 2006, if the value of your account is less
 than $500 for any reason, we may sell the rest of your shares
 (without charging any CDSC) and close your account.   We
 would do this to minimize the Fund's expenses paid by other
 shareholders. The involuntary sale provisions do not apply to
 Automatic Investment Plan ("AIP") accounts, employee savings
 plan accounts, payroll deduction plan accounts, or retirement
 accounts (such as a 401(k) plan, an IRA or other qualified or
 tax-deferred plan or account).   Prior thereto, if you make a sale
 that reduces your account value to less than $500, we may sell
 the rest of your shares (without charging any CDSC) and close
 your account; this involuntary sale does not apply to
 shareholders who own their shares as part of a retirement
 account.   For more information, see "Purchase, Redemption
 and Pricing of Fund Shares - Involuntary Redemption" in the
 Statement of Additional Information.   Note that beginning
 November 17, 2006, if the value of your account is less than
$2,500 (with certain exclusions), a $15 annual small balance
 account fee will be deducted from your account; any applicable
 CDSC on the shares redeemed to pay the $15 small balance
 account fee will be waived.  For more information, see "Fees
 and Expenses" and the table captioned "Shareholder Fees" in
this Prospectus, and "Purchase, Redemption and Pricing of Fund
 Shares - Small Balance Account Fee" in the Statement of
Additional Information.

LR0044
??

??

??

??

EX-99.77D POLICIES

Dryden California Municipal Fund
For the annual period ended 8/31/06
File number 811-04024

SUB-ITEM 77D
Policies With Respect to Security Investment

California Income Series and California Series
of Dryden California Municipal Fund

Dryden National Municipals Fund, Inc.

Florida Series, New Jersey Series, New York Series, and Pennsylvania Series
of Dryden Municipal Series Fund

Dryden International Equity Fund and Jennison Global Growth Fund
of Prudential World Fund, Inc.

Supplement dated June 9, 2006

Proposed Reorganizations

The Boards of Trustees of Dryden California Municipal Fund and
Dryden Municipal Series Fund and the Boards of Directors of Dryden
National Municipals Fund, Inc. and Prudential World Fund, Inc. recently
approved: (i) the California Reorganization (as described below); (ii)
each of the National Reorganizations (as described below); and (iii) the
International Reorganization (as described below).

California Reorganization
Target Fund
Acquiring Fund
California Series of
Dryden California Municipal Fund
California Income Series of
Dryden California Municipal Fund

National ReorganizationS
Target Funds
Acquiring Fund
Florida Series of Dryden Municipal Series Fund
New Jersey Series of Dryden Municipal Series Fund
New York Series of Dryden Municipal Series Fund
Pennsylvania Series of Dryden Municipal Series Fund
Dryden National Fund Municipals Fund, Inc.


INTERNational Reorganization
Target Fund
Acquiring Fund
Jennison Global Growth Fund of
Prudential World Fund, Inc.
Dryden International Equity Fund of
Prudential World Fund, Inc.




Pursuant to these proposals, the assets and liabilities of each Target
Fund would be exchanged for shares of the corresponding Acquiring
Fund. The Acquiring Fund shares to be received by Target Fund
shareholders in a reorganization will be equal in value, will be of the
same class, and will be subject to the same distribution fees, account
maintenance fees, and sales charges, including contingent deferred
sales charges, if any, as the Target Fund shares held by such
shareholders immediately prior to the reorganization.

Each reorganization transaction is subject to approval by the
shareholders of the relevant Target Fund. It is anticipated that proxy
statements/prospectuses relating to the transactions will be mailed to
Acquired Fund shareholders on or about August 2006 and that the
special meetings of Target Fund shareholders will be held on or about
October 2006. Shareholder approval of any one reorganization is not
contingent upon shareholder approval of any other reorganization.

Under the terms of the proposals, shareholders of a Target Fund would
become shareholders of the corresponding Acquiring Fund. No sales
charges would be imposed in connection with the proposed transfer.
The Acquiring Funds and the Target Funds anticipate obtaining
opinions of special tax counsel that the transactions will not result in
any adverse federal income tax consequences to any Acquiring Fund,
any Target Fund, or their respective shareholders.

LR0052

EX-99.77Q1 OTHR EXHB

This page being
FINANCIAL INFORMATION (Cont. from Screen 33)           filed for series 1.


EXPENSES (Negative answers are allowed For the period covered by this form

            on this screen for 72Z only)                  ($000's omitted)

72.Y) Expense reimbursements ----------------------------- $      	0

   Z) Net investment income ------------------------------ $            0

	  AA) Realized capital gains ----------------------------- $      0

	  BB) Realized capital losses ---------------------------- $      0

  CC) 1. Net unrealized appreciation during the period --- $            0

      2. Net unrealized depreciation during the period --- $   		0

  DD) 1. Total income dividends for which record date
         passed during the period ------------------------ $            0

2. Dividends for a second class of open-end
         company shares -----------------------------------$            0

  EE) Total capital gains distributions for which
      record date passed during the period --------------- $            0
73. Distributions per share for which record date passed during the period:
       NOTE: Show in fractions of a cent if so declared.
"   A) 1. Dividends from net investment income ------$ 0.4505, 0.4213
"      2. Dividends for a second class of open-end---
          company shares ---------------------------------- $   0.3909, 0.4790
   B) Distribution of capital gains ---------------$   0.1000
   C) Other distributions --------------------------------- $   0.0000
                              SCREEN NUMBER: 34


This page being
(Continued from Screen 35)                                filed for series 1.
   Condensed balance sheet data:         As of the end of current reporting
                                        period (000's omitted except for per
                                        share amounts and number of accounts)
74.O) Payables for portfolio instruments purchased --------------- $        0
   P) Amounts owed to affiliated persons --------------------------$        0
   Q) Senior long-term debt ---------------------------------------$        0
   R) Other liabilities:1. Reverse repurchase agreements --------- $        0
                        2. Short sales --------------------------- $        0
                        3. Written options ----------------------- $        0
                        4. All other liabilities ----------------- $        0
   S) Senior equity -----------------------------------------------$        0
   T) Net assets of common shareholders ---------------------------$        0
   U) 1. Number of shares outstanding -----------------------------$	    0
      2. Number of shares outstanding of a second class of shares
         of open-end company ---------------------------------------        0
"   V) 1. Net asset value per share(to nearest cent)-- $11.48, 11.48

       2. Net asset value per share of a second class of open-end
"         company shares (to nearest cent) ----------- $11.48, 11.48
   W) Mark-to-market net asset value per share
      for money market funds only (to 4 decimals) -----------------$   0.0000
   X) Total number of shareholder accounts ------------------------$        0
   Y) Total value of assets in segregated accounts ----------------$        0
                              SCREEN NUMBER: 36


Because the electronic format for filing Form N-SAR does not provide
"adequate space for responding to Items 73A1&2 and 74V1&2 correctly, "
the correct answers are as above.
Dryden California Municipal Fund/
California Series

EX-99.77B ACCT LTTR

Report of Independent Registered Public Accounting Firm


The Board of Trustees and Shareholders of
Dryden California Municipal Fund -California Income Series

In planning and performing our audit of the financial statements of
 Dryden California Municipal Fund -California Income Series (hereafter
 referred to as the "Fund") as of and for the year ended August 31,
 2006,in accordance with the standards of the Public Company
 Accounting Oversight Board (United States), we considered its internal
 control over financial reporting, including control activities for
 safeguarding securities, as a basis for designing our auditing procedures
 for the purpose of expressing our opinion on the financial statements
 and to comply with the requirements of Form N-SAR, but not for the
 purpose of expressing an opinion on the effectiveness of the Fund's
 internal control over financial reporting.   Accordingly, we express no
 such opinion.

The management of the Fund is responsible for establishing and
 maintaining effective internal control over financial reporting.  In
 fulfilling this responsibility, estimates and judgments by management
 are required to assess the expected benefits and related costs of controls.
  A company's internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of
 financial reporting and the preparation of financial statements for
 external purposes in accordance with U.S. generally accepted
 accounting principles.  Such internal control includes policies and
 procedures that provide reasonable assurance regarding prevention or
 timely detection of unauthorized acquisition, use or disposition of a
 company's assets that could have a material effect on the financial
 statements.

Because of its inherent limitations, internal control over financial
 reporting may not prevent or detect misstatements. Also, projections of
 any evaluation of effectiveness to future periods are subject to the risk
 that controls may become inadequate because of changes in conditions,
 or that the degree of compliance with the policies or procedures may
 deteriorate.

A control deficiency exists when the design or operation of a control
 does not allow management or employees, in the normal course of
 performing their assigned functions, to prevent or detect misstatements
on a timely basis. A significant deficiency is a control deficiency, or
 combination of control deficiencies, that adversely affects the
 company's ability to initiate, authorize, record, process or report
 external financial data reliably in accordance with U.S. generally
 accepted accounting principles such that there is more than a remote
 likelihood that a misstatement of the company's annual or interim
 financial statements that is more than inconsequential will not be prevented
 or detected. A material weakness is a significant deficiency, or
 combination of significant deficiencies, that results in more than a
 remote likelihood that a material misstatement of the annual or interim
 financial statements will not be prevented or detected.

Our consideration of the Fund's internal control over financial reporting
 was for the limited purpose described in the first paragraph and would
 not necessarily disclose all deficiencies in internal control that might be
 significant deficiencies or material weaknesses under standards
 established by the Public Company Accounting Oversight Board
 (United States).  However, we noted no deficiencies in the Fund's
 internal control over financial reporting and its operation, including
 controls for safeguarding securities, that we consider to be a material
 weakness as defined above as of August 31, 2006.

This report is intended solely for the information and use of management
 and the Board of Trustees of the Fund and the Securities and Exchange
 Commission and is not intended to be and should not be used by anyone
 other than these specified parties.




KPMG LLP

New York, New York
October 27, 2006

EX-99.77D POLICIES

Dryden California Municipal Fund
For the annual period ended 8/31/06
File number 811-04024

SUB-ITEM 77D
Policies With Respect to Security Investment

Jennison 20/20 Focus Fund
Jennison Blend Fund, Inc.
Jennison Natural Resources Fund, Inc.
Jennison Small Company Fund, Inc.
Jennison U.S. Emerging Growth Fund, Inc.
Jennison Value Fund
Dryden California Municipal Fund
Dryden Global Total Return Fund, Inc.
Dryden Government Income Fund, Inc.
Dryden Government Securities Trust
Dryden High Yield Fund, Inc.
Dryden Index Series Fund, Inc.
Dryden Municipal Bond Fund
Dryden Municipal Series Fund
Dryden National Municipals Fund, Inc.
Dryden Short-Term Bond Fund, Inc.
Dryden Small Cap Core Equity Fund, Inc.
Dryden Tax-Free Money Fund
Dryden Tax-Managed Funds
Dryden Total Return Bond Fund, Inc.
MoneyMart Assets, Inc.
Prudential Investment Portfolios, Inc.
Prudential World Fund, Inc.
Nicholas-Applegate Fund, Inc.
Strategic Partners Asset Allocation Funds, Inc.
Strategic Partners Mutual Funds, Inc.
Strategic Partners Opportunity Funds
Strategic Partners Real Estate Fund, and
Strategic Partners Style Specific Funds, Inc.

Supplement dated May 24, 2006 to the Statement of Additional
 Information

This supplement amends the Statement of Additional Information
 ("SAI"
) of each of the funds referenced below and is in addition to
any existing
 supplement to a Fund's SAI.

JennisonDryden Mutual Funds
Jennison 20/20 Focus Fund
Jennison Blend Fund
Jennison Conservative Growth Fund
Jennison Equity Opportunity Fund
Jennison Financial Services Fund
Jennison Global Growth Fund
Jennison Growth Fund
Jennison Health Sciences Fund
Jennison Natural Resources Fund
Jennison Select Growth Portfolio
Jennison Small Company Fund
Jennison Technology Fund
Jennison U.S. Emerging Growth Fund
Jennison Utility Fund
Jennison Value Fund
JennisonDryden Conservative Allocation Fund
JennisonDryden Growth Allocation Fund
JennisonDryden Moderate Allocation Fund
Dryden Active Allocation Fund
Dryden Global Total Return Fund
Dryden Government Income Fund
Dryden High Yield Fund
Dryden International Equity Fund
Dryden Large Cap Core Equity Fund
Dryden National Municipals Fund
California Income Series
California Series
Florida Series
New Jersey Series
New York Series
Pennsylvania Series
Dryden Short-Term Corporate Bond Fund
Dryden Small Cap Core Equity Fund
Dryden Stock Index Fund
Dryden Strategic Value Fund
Dryden Tax-Free Money Fund
Dryden Total Return Bond Fund
Dryden Ultra Short Bond Fund
High Income Series
Insured Series
Money Market Series
MoneyMart Assets
Strategic Partners Mutual Funds
Strategic Partners Balanced Fund
Strategic Partners Capital Growth Fund
Strategic Partners Concentrated Growth Fund
Strategic Partners Conservative Allocation Fund
Strategic Partners Core Value Fund
Strategic Partners Equity Income Fund
Strategic Partners Growth Allocation Fund
Strategic Partners High Yield Bond Fund
Strategic Partners International Growth Fund
Strategic Partners International Value Fund
Strategic Partners Large Cap Value
Strategic Partners Managed OTC Fund
Strategic Partners Mid Cap Growth Fund
Strategic Partners Mid Cap Value Fund
Strategic Partners Moderate Allocation Fund
Strategic Partners Money Market Fund
Strategic Partners New Era Growth
Strategic Partners Real Estate Fund
Strategic Partners Small Cap Growth Fund
Strategic Partners Small Cap Value
Strategic Partners Technology Fund
Strategic Partners Total Return Bond


Nicholas-Applegate Growth Equity Fund



 1.             The section captioned "Purchase, Redemption
 and Pricing of Fund Shares - Involuntary Redemption" is
 deleted and replaced with the following:

Involuntary Redemption . Beginning on or about November 10,
 2006, if the value of your account is less than $500 for any
reason, we may sell the rest of your shares (without charging
 any CDSC) and close your account. The involuntary sale
 provisions do not apply to: (i) an IRA or other qualified or
 tax-deferred retirement plan or account, (ii) Automatic
 Investment Plan ("AIP") accounts, employee savings plan
 accounts or payroll deduction plan accounts, (iii) accounts
 with the same registration associated with multiple share
 classes within the Fund, or (iv) clients with assets more
 than $50,000 across the Strategic Partners and JennisonDryden
 families of mutual funds. "Client" for this purpose has the
 same definition as for purposes of Rights of Accumulation,
 i.e., an investor and an eligible group of related investors.
 For more information, see "Reducing or Waiving Class A's
 Initial Sales Charge" in the Prospectus.

2. A new section captioned "Small Balance
 Account Fee" is added immediately following "Purchase,
 Redemption and Pricing of Fund Shares - Involuntary
 Redemption":

Small Balance Account Fee. In order to offset the
 disproportionate effect (in basis points) of expenses
 associated with servicing small balance accounts,
 beginning on or about November 17, 2006, if the value of
 your account is less than $2,500, a $15 annual small
 balance account fee will be deducted from your account.
 Thereafter, beginning in 2007, the $15 annual small
 balance account
 fee will be assessed during the 4 th calendar quarter of
 each year. Any applicable CDSC on the shares redeemed to
 pay the $15 small balance account fee will be waived. The
 $15 small balance account fee will not be charged on: (i)
 accounts during the first six months from inception of the
 account, (ii) omnibus accounts, (iii) institutional
 accounts, (iv) group retirement plans (including SIMPLE
 IRA plans, profit-sharing plans, money purchase pension
 plans, Keogh plans, defined compensation plans, defined
 benefit plans and 401(k) plans), (v) Automatic Investment
 Plan ("AIP") accounts or employee savings plan accounts,
 (vi) accounts with the same registration associated with
 multiple share classes within the Fund, or (vii) clients
 with assets more than $50,000 across the Strategic
Partners and JennisonDryden families of mutual funds.

"Client" for this purpose has the same definition as for
 purposes of Rights of Accumulation, i.e., an investor and
an eligible group of related investors. For more
 information, see "Reducing or Waiving Class A's Initial
 Sales Charge" in the Prospectus.

3. The first and second sentences of the first paragraph
 under "Purchase, Redemption and Pricing of Fund Shares
- -Contingent Deferred Sales Charge (CDSC)" is deleted and
replaced with the following:

Contingent Deferred Sales Charge (CDSC). Investors who
 purchase $1 million or more of Class A shares and sell
 these shares within 12 months of purchase are subject to a
 1% CDSC. The Class A CDSC is waived (i) for certain
retirement and/or benefit plans, or (ii) if you purchase
Class Z shares (see "Qualifying for Class Z Shares" in the
Prospectus) within 5 days of redemption of your Class A
shares that you had purchased directly through the Fund's
transfer agent, we will credit your account with the
appropriate number of shares to reflect any CDSC you paid
on the reinvested portion of your redemption proceeds.


4. The paragraph captioned "Purchase,
Redemption and
Pricing of Fund Shares -Waiver of CDSC - Class A Shares"
deleted and replaced with the following:

Waiver of CDSC - Class A Shares . Investors who purchase $1
 million or more of Class A shares and sell these shares
within 12 months of purchase are subject to a CDSC of 1%.
The Class A CDSC is waived (i) for certain retirement
and/or benefit plans, or (ii) if you purchase Class Z
shares (see "Qualifying for Class Z Shares" in the
Prospectus) within 5 days of redemption of your Class A
shares that you had purchased directly through the Fund's
transfer agent, we will credit your account with the
appropriate number of shares to reflect any CDSC you paid
on the reinvested portion of your redemption proceeds.

5. The last paragraph under "Purchase,
Redemption and Pricing of Fund Shares - Waiver of CDSC -
Class B Shares" is deleted and replaced with the
following:

Finally, the CDSC will be waived to the extent you exchange
shares your shares for shares of other JennisonDryden or
Strategic Partners mutual funds, The Guaranteed Investment
Account, the Guaranteed Insulated Separate Account or units
of The Stable Value Fund. See "Shareholder Services -
Exchange Privilege," below, for more information regarding
 the Exchange Privilege.

6. The first paragraph under "Shareholder
Services" is deleted
 and replaced with the following:

Upon the initial purchase of Fund shares, a Shareholder
Investment Account is established for each investor under
which a record of the shares is maintained by the Transfer
Agent. Effective on or about November 17, 2006, share
certificates will no longer be issued for shares of the
Fund. Prior to that date: (i) if a stock certificate is
desired it must be requested in writing for each
transaction, (ii) there is no charge to the investor for
issuance of a certificate, and (iii) certificates are
issued only for full shares and may be re-deposited in the
Shareholder Investment Account at any time. The Fund makes
available to its shareholders the following privileges and
plans.


LR0045

EX-99.77B ACCT LTTR

Report of Independent Registered Public Accounting Firm


The Board of Trustees and Shareholders of
Dryden California Municipal Fund -California Series

In planning and performing our audit of the financial statements
 of Dryden
 California Municipal Fund California Series (hereafter referred
 to as the
 "Fund") as of and for the year ended August 31, 2006, in
 accordance with the standards of the Public Company Accounting
 Oversight Board (United States), we considered its internal
 control over financial reporting, including control activities
 for safeguarding securities, as a basis for designing our
 auditing procedures for the purpose of expressing our opinion on
 the financial
statements and to comply with the requirements of Form N-SAR, but
 not for the purpose of expressing an opinion on the
 effectiveness of the Fund's internal control over financial
 reporting.   Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and
 maintaining effective internal control over financial reporting.
  In fulfilling this responsibility, estimates and judgments by
 management are required to assess
the expected benefits and related costs of controls.  A company's
 internal control over financial reporting is a process designed
 to provide reasonable assurance regarding the reliability of
 financial reporting and the preparation of financial statements
 for external purposes in accordance with U.S. generally accepted
 accounting principles.  Such internal control includes policies
 and procedures that provide reasonable assurance regarding
 prevention or timely detection of unauthorized acquisition, use
 or disposition of a company's assets that could have a material
 effect on the financial statements.

Because of its inherent limitations, internal control over
 financial reporting may not prevent or detect misstatements.
 Also, projections of any evaluation of effectiveness to future
 periods are subject to the risk that controls may become
 inadequate because of changes in conditions, or that the degree
 of compliance with the policies or procedures may deteriorate.

A control deficiency exists when the design or operation of a
 control does not allow management or employees, in the normal
 course of performing their assigned functions, to prevent or
 detect misstatements on a timely basis. A significant deficiency
 is a control deficiency, or combination of control deficiencies,
 that adversely affects the company's ability to initiate,
 authorize, record, process or report external financial data
 reliably in accordance with U.S. generally accepted accounting
 principles such that there is more than a remote likelihood that
 a misstatement of the company's annual or interim financial
 statements that is more than inconsequential will not be
 prevented or detected. A material weakness is a significant
 deficiency, or combination of significant deficiencies, that
 results in more than a remote likelihood that a material
 misstatement of the annual or interim financial statements will
 not be prevented or detected.

Our consideration of the Fund's internal control over financial
 reporting was for the limited purpose described in the first
 paragraph and would not necessarily disclose all deficiencies in
 internal control that might be significant deficiencies or
 material weaknesses under standards established by the Public
 Company Accounting Oversight Board (United States).  However, we
 noted no deficiencies in the Fund's internal control over
 financial reporting and its operation, including controls for
 safeguarding securities, that we consider to be a material
 weakness as defined above as of August 31, 2006.

This report is intended solely for the information and use of
 management and the Board of Trustees of the Fund and the
 Securities and Exchange Commission and is not intended to be and
 should not be used by anyone other than these specified parties.




KPMG LLP

New York, New York
October 27, 2006