Exhibit 1.A.(1)(b)
On November 11, 1997 the Finance Committee of the Board of Directors of The
Prudential Insurance Company of America granted the following authority with
respect to The Prudential Variable Appreciable Account:
1. For the Variable Appreciable Account to invest, in addition to shares
of portfolios of The Prudential Series Fund, Inc., in the five mutual
funds from the fund companies listed on Exhibit A hereto.
2. For the proper officers of Prudential to do or cause to be done in the
name and on behalf of Prudential any and all acts and things,
including, but not limited to, requests to regulatory authorities for
approvals, exemptions and other actions and the execution and delivery
of documents, papers and instruments, all as any such officer or
officers may deem necessary, desirable or appropriate to execute the
purposes and intents of the forgoing actions.
II-7
EXHIBIT A
---------
LIST OF FUNDS
Mutual Fund Company Name of Fund Investment Objective
(Strategy)
- -------------------------------------------------------------------------------
AIM Distributors, Inc. Aim V.I. Value Fund A diversified portfolio which
seeks to achieve long-term
growth of capital by investing
primarily in equity securities
judged by AIM to be undervalued
relative to the current or
projected earnings of the
companies issuing the
securities, or relative to
current market values of assets
owned by the companies issuing
the securities, or relative to
the equity markets generally.
Income is a secondary objective.
- -------------------------------------------------------------------------------
Twentieth Century Group VP Value Seeks long-term capital
appreciation, income is
secondary. (The fund usually
invests at least 80% of assets
in equity securities issued by
well-established medium and
large-size companies).
- -------------------------------------------------------------------------------
MFS MFS Emerging Seeks long-term growth of
Growth capital. Dividend and interest
Series income from portfolio
securities, if any, is
incidental to the investment
objective of long-term growth of
capital. (The portfolios will
invest primarily in common
stocks of emerging growth
companies).
- -------------------------------------------------------------------------------
II-8
Mutual Fund Company Name of Fund Investment Objective
(Strategy)
- --------------------------------------------------------------------------------
T. Rowe Price T. Rowe Price Seeks long-term growth,
International principally by means of
Stock Portfolio investments in the common
stocks of established non-
U.S. companies. (The
Portfolio is diversified
with a focus upon those
areas and financial
instruments which appear
to offer good
opportunities for capital
appreciation.)
- --------------------------------------------------------------------------------
Janus Capital Janus Aspen Series Seeks long-term growth of
Corporation Growth Portfolio capital in a manner
consistent with
preservation of capital by
investing primarily in the
common stocks of companies
of any size. Generally,
the Portfolio emphasizes
larger, more established
issuers.
- --------------------------------------------------------------------------------
II-9