Strategic Partners Asset Allocation Funds
Strategic Partners Conservative Growth Fund
Strategic Partners Moderate Growth Fund

Supplement dated March 9, 2005 to the
Prospectus and Statement of Additional Information
dated October 1, 2004

Effective as of March 2, 2005, each Fund listed above has changed
its investment policies concerning investments in mortgage-related
securities and derivatives as noted below.  The information in this
supplement supersedes any contrary information that may be contained
either in the Funds' prospectus or statement of additional information
(SAI).

1. On page 34 of the prospectus, the following disclosure replaces
the first column of the second row in the table that appears under
the section entitled "How the Funds Invest - Investment
Type - Mortgage-related securities."

Mortgage-related securities
Conservative Growth and
Moderate Growth Funds
Percentage varies, up to 35%

2. On page 37 of the prospectus, the following disclosure replaces the
first column in the table that appears under the section entitled
"How the Funds Invest - Investment Type -Derivatives."

Derivatives
All Funds
Percentage varies


MFSP504C4