ADVANCED SERIES TRUST (Form: 485BPOS, Received: 04/19/2010 16:00:04)

The investment objective of the Portfolio is to seek long-term capital appreciation.

The table below shows the fees and expenses that you may pay if you invest in shares of the Portfolio. The table does not include Contract charges. Because Contract charges are not included, the total fees and expenses that you will incur will be higher than the fees and expenses set forth in the table. See your Contract prospectus for more information about Contract charges.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.72%
Distribution (12b-1) Fees		None
Other Expenses		.10%
- Dividend Expense on Short Sales	.02%
Acquired Fund Fees & Expenses		.75%
Total Annual Portfolio Operating Expenses		1.57%

Example . The following example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds. The table does not include Contract charges. Because Contract charges are not included, the total fees and expenses that you will incur will be higher than the fees and expenses set forth in the example. See your Contract prospectus for more information about Contract charges.

The example assumes that you invest $10,000 in the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Portfolio's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

	1 Year	3 Years	5 Years	10 Years
AST Academic Strategies Asset Allocation	$160	$496	$855	$1,867

Portfolio Turnover . The Portfolio pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual portfolio operating expenses or in the example, affect the Portfolio's performance. During the most recent fiscal year ended December 31, the Portfolio's turnover rate was 78% of the average value of its portfolio.

Principal Investment Strategies . The Portfolio is a fund-of funds. Under normal circumstances, approximately 60% of the Portfolio's assets are allocated to traditional asset classes and approximately 40% of the Portfolio's assets are allocated to non-traditional asset classes and investment strategies. The traditional asset classes include U.S. and foreign equity and fixed-income securities. The non-traditional asset classes include real estate, commodities, and global infrastructure. The non-traditional investment strategies include long/short market neutral, global macro, hedge fund replication, and global tactical asset allocation strategies.

The Portfolio gains exposure to these traditional and non-traditional asset classes and investment strategies by investing in varying combinations of: (i) other pooled investment vehicles, including, other portfolios of the Fund, other open-end or closed-end investment companies, exchange-traded funds (ETFs), unit investment trusts, and domestic or foreign private investment pools (collectively referred to as Underlying Portfolios); (ii) securities such as common stocks, preferred stocks, and bonds; and (iii) certain financial and derivative instruments. Under normal circumstances, the Portfolio invests approximately 65% of its assets in Underlying Portfolios.

Principal Risks of Investing in the Portfolio . The risks identified below are the principal risks of investing in the Portfolio. All investments have risks to some degree and it is possible that you could lose money by investing in the Portfolio. An investment in the Portfolio is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. While the Portfolio makes every effort to achieve its objective, it can't guarantee success.

Fund of funds risk . In addition to the risks associated with the indirect investment in the Underlying Portfolios, the Portfolio is subject to the following additional risks: to the extent the Portfolio concentrates its assets among Underlying Portfolios that invest principally in one or several asset classes, the Portfolio may from time to time underperform mutual funds exposed primarily to other asset classes; the ability of the Portfolio to achieve its investment objective depends on the ability of the selected Underlying Portfolios to achieve their investment objectives; and the performance of the Portfolio may be affected by large purchases and redemptions of Underlying Portfolio shares.

Asset Transfer Program Risk . The Portfolio is used in connection with certain benefit programs under Prudential variable annuity contracts, including, certain "guaranteed minimum accumulation benefit" programs and certain "guaranteed minimum withdrawal benefit" programs. In order for Prudential to manage the guarantees offered in connection with these benefit programs, Prudential will monitor each contract owner's account value from time to time and will systematically transfer amounts between the Portfolio and certain bond funds (or, for one guaranteed minimum withdrawal benefit program, the insurer's general account) as required by certain non-discretionary mathematical formulas. Such pre-determined mathematical formulas may, however, result in large-scale asset flows into and out of the Portfolio and subject the Portfolio to certain risks. Such pre-determined mathematical formulas could adversely affect a Portfolio's investment performance by requiring the subadviser to purchase and sell securities at inopportune times and by otherwise limiting the subadviser's ability to fully implement the Portfolio's investment strategies. In addition, these pre-determined mathematical formulas may result in relatively small asset bases and relatively high operating expense ratios for the Portfolios compared to other similar funds.

Foreign investment risk . Investment in foreign securities generally involve more risk than investing in securities of U.S. issuers. Foreign investment risk includes: Changes in currency exchange rates may affect the value of foreign securities held by a Portfolio; securities of issuers located in emerging markets tend to have volatile prices and may be less liquid than investments in more established markets; foreign markets generally are more volatile than U.S. markets, are not subject to regulatory requirements comparable to those in the U.S, and are subject to differing custody and settlement practices; foreign financial reporting standards usually differ from those in the U.S.; foreign exchanges are smaller and less liquid than the U.S. market; political developments may adversely affect the value of a Portfolio's foreign securities; and foreign holdings may be subject to special taxation and limitations on repatriating investment proceeds.

Fixed income securities risk . Investment in fixed income securities involves a variety of risks, including the risk that an issuer or guarantor of a security will be unable to pay some or all of the principal and interest when due (credit risk); the risk that the Portfolio may not be able to sell some or all of the securities its holds, either at the price it values the security or at any price (liquidity risk); and the risk that the rates of interest income generated by the fixed income investments of a Portfolio may decline due to a decrease in market interest rates and that the market prices of the fixed income investments of a Portfolio may decline due to an increase in market interest rates (interest rate risk).

High-yield risk . Investments in fixed-income securities rated below investment grade and unrated securities of similar credit quality (commonly known as "junk bonds") may be subject to greater levels of credit and liquidity risk than investments in investment grade securities. High-yield securities are considered predominantly speculative with respect to the issuer's continuing ability to make principal and interest payments.

Mortgage-backed securities risk . A mortgage-backed security is a specific type of asset-backed security - one backed by mortgage loans on residential and/or commercial real estate. Therefore, they have many of the risk characteristics of asset-backed securities, including prepayment and extension risks, as well as interest rate, credit and liquidity risk. Because they are backed by mortgage loans, mortgage-backed securities also have risks related to real estate, including significant sensitivity to changes in real estate prices and interest rates and, in the case of commercial mortgages, office and factory occupancy rates.

Market and management risk . Markets in which the Portfolio invests may experience volatility and go down in value, and possibly sharply and unpredictably. All decisions by an adviser require judgment and are based on imperfect information. Additionally, the investment techniques, risk analysis and investment strategies used by an adviser in making investment decisions for the Portfolio may not produce the desired results.

Real estate risk . Investments in real estate investment trusts (REITs) and real estate-linked derivative instruments will subject the Portfolio to risks similar to those associated with direct ownership of real estate, including losses from casualty or condemnation, changes in local and general economic conditions, supply and demand for real estate and office space, interest rates, zoning laws, regulatory limitations on rents, property taxes, and operating expenses. An investment in a derivative instrument that is linked to the value of a REIT is subject to additional risks, such as poor performance by the manager of the REIT, adverse changes to the tax laws, or failure by the REIT to qualify for favorable tax treatment under current tax laws. In addition, some REITs have limited diversification because they invest in a limited number of properties, a narrow geographic area, or a single type of property.

Liquidity and valuation risk . From time to time, the Portfolio may hold one or more securities for which there are no or few buyers and sellers or which are subject to limitations on transfer. A Portfolio also may have difficulty disposing of those securities at the values determined by the Portfolio for the purpose of determining the Portfolio's net asset value, especially during periods of significant net redemptions of Portfolio shares.

Leverage risk . Leverage is the investment of borrowed cash. The effect of using leverage is to amplify the Portfolio's gains and losses in comparison to the amount of the Portfolio's assets (that is, assets other than borrowed assets) at risk, thus causing the Portfolio to be more volatile.

Derivatives risk . A derivative is a financial contract, the value of which depends upon, or is derived from, the value of an underlying asset, reference rate, or index. The use of derivatives involves a variety of risks, including: the risk that the counterparty (the party on the other side of the transaction) on a derivative transaction will be unable to honor its financial obligation to the Portfolio; certain derivatives and related trading strategies create debt obligations similar to borrowings, and therefore create, leverage, which can result in losses to a Portfolio that exceed the amount the Portfolio originally invested; certain exchange-traded derivatives may be difficult or impossible to buy or sell at the time that the seller would like, or at the price that the seller believes the derivative is currently worth, and privately negotiated derivatives may be difficult to terminate or otherwise offset; derivatives used for hedging may reduce losses but also reduce or eliminate gains or cause losses if the market moves in a manner different from that anticipated by the Portfolio; and commodity-linked derivative instruments may be more volatile than the prices of investments in traditional equity and debt securities.

Short sale risk . The Portfolio's short sales are subject to special risks. A short sale involves the sale by the Portfolio of a security that it does not own with the hope of purchasing the same security at a later date at a lower price. If the price of the security or derivative has increased during this time, then the Portfolio will incur a loss equal to the increase in price from the time that the short sale was entered into plus any premiums and interest paid to the third party. Theoretically, the amount of these losses can be unlimited, although for fixed-income securities an interest rate of 0% forms an effective limit on how high a securities' price would be expected to rise. Although certain investment strategies pursued by the Portfolio may try to reduce risk by holding both long and short positions at the same time, it is possible that the Portfolio's securities held long will decline in value at the same time that the value of the Portfolio's securities sold short increases, thereby increasing the potential for loss. In addition, there is the risk that the third party to the short sale may fail to honor its contract terms, causing a loss to the Fund.

Expense risk . Your actual cost of investing in a Portfolio may be higher than the expenses shown in "Annual Portfolio Operating Expenses," above for a variety of reasons, including, for example, if a Portfolio's average net assets decreases significantly, such as significant redemptions by another Portfolio that may invest in your Portfolio.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provides some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performace from year to year and by showing how the Portfolio's average annual returns for 1 year and since inception of the Portfolio compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The annual returns and average annual returns shown in the chart and table are after deduction of expenses and do not include Contract charges. If Contract charges were included, the returns shown would have been lower than those shown. Consult your Contract prospectus for information about Contract charges.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes stocks of companies with similar investment objectives. The Portfolio's primary custom blended stock index consists of the Russell 3000 Index (20%), MSCI EAFE Index (20%), Barclays Capital Aggregate Bond Index (25%), Dow Jones Wilshire REIT Index (10%), Dow Jones - AIG Commodities Index (10%), and Merrill Lynch 90-Day U.S. Treasury Bill Index (15%). The Portfolio's secondary custom blended stock index consists of the Standard & Poor's 500 Index (60%), and Barclays Capital Aggregate Bond Index (40%). The manager determined the weight of each index comprising the blended indexes.

Note : Prior to July 21, 2008, the Portfolio was known as the AST Balanced Asset Allocation Portfolio. Effective July 21, 2008, the Portfolio added new subadvisers, changed its investment objective, policies, strategy, and expense structure. The performance figures furnished below prior to July 21, 2008 reflects the investment performance, investment operations, investment policies, investment strategies, and expense structure of the former AST Balanced Asset Allocation Portfolio and is not representative of the current subadvisers or investment objective, polices, strategy, and expense structure.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 14.94% Worst Quarter: 4th Quarter of 2008 -16.24%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (12/5/05)
Portfolio	24.36%	.92%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-.65
Primary Blended Index (reflects no deduction for fees, expenses or taxes)	19.22	2.81
Secondary Blended Index (reflects no deduction for fees, expenses or taxes)	18.40	2.21

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Ahrens	Senior VP - Strategic Investment Research Group	July 2008
AST Investment Services, Inc.	Quantitative Management Associates LLC (QMA)	Ted Lockwood	Portfolio Manager, Managing Director of QMA	July 2008
		Marcus M. Perl	VP, Portfolio Manager of QMA	July 2008
		Edward L. Campbell, CFA	VP, Portfolio Manager of QMA	July 2008
		Edward F. Keon, Jr.	Portfolio Manager, Managing Director of QMA	July 2008

Contract owners should consult their Contract prospectus for information on the federal tax consequences to them. In addition, Contract owners may wish to consult with their own tax advisors as to the tax consequences of investments in the Contracts and the Portfolio, including the application of state and local taxes. The Portfolio currently intends to be treated as a partnership for federal income tax purposes. As a result, the Portfolio's income, gains, losses, deductions, and credits are "passed through" pro rata directly to the participating insurance companies and retain the same character for federal income tax purposes.

If you purchase your Contract through a broker-dealer or other financial intermediary (such as a bank), the issuing insurance company, the Portfolio or their related companies may pay the intermediary for the sale of the Contract, the selection of the Portfolio and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Contract over another investment or insurance product, or to recommend the Portfolio over another investment option under the Contract. Ask your salesperson or visit your financial intermediary's website for more information.

SUMMARY: AST ADVANCED STRATEGIES PORTFOLIO

To seek a high level of absolute return by using traditional and non-traditional investment strategies and by investing equity and fixed-income securities, derivative instruments and exchange-traded funds.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.85%
Distribution (12b-1) Fees		None
Other Expenses		.18%
Acquired Fund Fees & Expenses		.02%
Total Annual Portfolio Operating Expenses		1.05%

	1 Year	3 Years	5 Years	10 Years
AST Advanced Strategies	$107	$334	$579	$1,283

Principal Investment Strategies . The Portfolio's asset allocation generally provides for an allotment of approximately 60% of Portfolio assets to a combination of domestic and international equity strategies and an allotment of approximately 40% of Portfolio assets to a combination of U.S. fixed-income, hedged international bond, real return and exchange-traded fund investment strategies. The Portfolio is subadvised by Quantitative Management Associates LLC (QMA), which allocates the Portfolio's net assets across different investment categories and different subadvisers. QMA also directly manages a portion of the Portfolio's assets. Certain investment categories will contain sub-categories. The subadviser for a category or sub-category will employ a specific investment strategy for that category or sub-category. QMA employs a two-tiered approach to allocating Portfolio assets across the various investment categories, sub-categories, and the Subadvisers. First, QMA will analyze the macro-economic landscape, the capital markets, and the related implications for investment strategy. Second, QMA draws on its understanding of the strategies used by the other subadvisers to determine which advisers are expected to perform best under the prevailing macro-economic landscape.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes cmopanies with similar investment objectives. The Portfolio's custom blended stock index consists of the Russell 3000 Index (40%), the MSCI EAFE Index (20%), the Barclays Capital Global Aggregate Bond Index (US$ Hedged) (30%) and the Custom Extended Markets Index (10%). The Custom Extended Markets Index is comprised of equal weightings of the Barclays Capital US TIPS Index, the Dow Jones AIG Commodity Total Return Index, and the Dow Jones Wilshire REIT Index. The manager determined the weight of each index comprising the blended indexes.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 15.41% Worst Quarter: 4th Quarter 2008 -16.47%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (03/20/06)
Portfolio	26.20%	1.24%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-1.80
Blended Index (reflects no deduction for fees, expenses or taxes)	21.73	1.22

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Quantitative Management Associates LLC (QMA)	Marcus Perl	Portfolio Manager, VP of QMA	July 2006
AST Investment Services, Inc.		Edward L. Campbell	Portfolio Manager, VP of QMA	July 2006

SUMMARY: AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to obtain the highest potential total return consistent with its specified level of risk tolerance.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.15%
Distribution (12b-1) Fees		None
Other Expenses		.06%
Acquired Fund Fees & Expenses		1.01%
Total Annual Portfolio Operating Expenses		1.22%

	1 Year	3 Years	5 Years	10 Years
AST Aggressive Asset Allocation	$124	$387	$670	$1,477

Principal Investment Strategies . The Portfolio is a "fund of funds." That means that the Portfolio invests primarily in one or more mutual funds in accordance with its own asset allocation strategy. Other mutual funds in which the Portfolio may invest are collectively referred to as the "Underlying Portfolios." Consistent with the investment objectives and policies of the Portfolio, other mutual funds may from time to time be added to, or removed from, the list of Underlying Portfolios that may be used in connection with the Portfolio. Currently, the only Underlying Portfolios in which the Portfolio invests are other Portfolios of the Fund and certain money market funds advised by an Investment Manager or one of its affiliates.

Quantitative Management Associates LLC (QMA) begins by constructing a neutral allocation for the Portfolio. Each neutral allocation initially divides the assets for the Portfolio across three broad-based securities benchmark indexes: the Russell 3000 Index, the Barclays Capital U.S. Aggregate Bond Index, and the MSCI EAFE Index. The neutral allocation will emphasize investments in the equity asset class. The selection of specific combinations of Underlying Portfolios for each Portfolio generally will be determined by Prudential Investments LLC (PI). PI will employ various quantitative and qualitative research methods to establish weighted combinations of Underlying Portfolios that are consistent with the neutral allocation for each Portfolio. QMA will then perform its own forward-looking assessment of macroeconomic, market, financial, security valuation, and other factors. As a result of this assessment, QMA will further adjust the neutral allocation and the preliminary Underlying Portfolio weights for each Portfolio based upon its views on certain factors.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes companies with similar investment objectives. The Portfolio's custom blended stock index consists of the Russell 3000 Index (80%) and MSCI EAFE Index (GD) (20%). These returns do not include the effect of any investment management expenses. The manager determined the weight of each index comprising the blended indexes.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 17.30% Worst Quarter: 4th Quarter of 2008 -23.07%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (12/5/05)
Portfolio	28.43%	-1.51%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-.65
Blended Index (reflects no deduction for fees, expenses or taxes)	29.23	.20

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Ahrens	Senior VP, Strategic Investment Reserach Group	April 2005
AST Investment Services, Inc.	Quantitative Management Associates LLC (QMA)	Marcus Perl	Portfolio Manager, VP of QMA	July 2006
		Edward L. Campbell	Portfolio Manager, VP of QMA	July 2006

SUMMARY: AST ALLIANCEBERNSTEIN CORE VALUE PORTFOLIO

The Portfolio's investment objective is long-term capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.75%
Distribution (12b-1) Fees		None
Other Expenses		.20%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.95%

	1 Year	3 Years	5 Years	10 Years
AST AllianceBernstein Core Value	$97	$303	$525	$1,166

Principal Investment Strategies. The Portfolio will pursue its objective, under normal circumstances, by investing primarily in common stocks. The subadviser expects that the majority of the Portfolio's assets will be invested in the common stocks of large companies that appear to be undervalued. Among other things, the Portfolio seeks to identify compelling buying opportunities created when companies are undervalued on the basis of investor reactions to near-term problems or circumstances even though their long-term prospects remain sound. The subadviser's investment approach is value-based and price-driven, and and it relies on the intensive fundamental and quantitative research of its internal research staff to identify these buying opportunities in the marketplace.

Value style risk . There is a risk that the value investment style may be out of favor for a period of time, that the market will not recognize a security's intrinsic value for a long time or that a stock judged to be undervalued may actually be appropriately priced.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provides some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performace from year to year and by showing how the Portfolio's average annual returns for 1 year, 5 years and since inception of the Portfolio compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 19.27% Worst Quarter: 4th Quarter of 2008 -22.60%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	Since Inception (5/1/01)
Portfolio	23.80%	-2.34%	1.55%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	.59
Russell 1000 Value Index (reflects no deduction for fees, expenses or taxes)	19.69	-.25	2.20

Investment Manager	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	AllianceBernstein L.P.	Joseph G. Paul	Co-Chief Investment Officer	October 2009
AST Investment Services Inc.		David Yuen	Senior Vice President	February 2009
		Christopher W. Marx	Senior Vice President	September 2004
		John D. Phillips	Senior Vice President	May 2001

SUMMARY: AST ALLIANCEBERNSTEIN GROWTH AND INCOME PORTFOLIO

The Portfolio's investment objective is long-term growth of capital and income.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.75%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.88%

	1 Year	3 Years	5 Years	10 Years
AST AllianceBernstein Growth & Income	$90	$281	$488	$1,084

Principal Investment Strategies . The Portfolio normally will invest in common stocks (and securities convertible into common stocks). The subadviser will take a value-oriented approach, in that it will try to keep the Portfolio's assets invested in securities that are selling at reasonable valuations in relation to their fundamental business prospects. In doing so, the Portfolio may forgo some opportunities for gains when, in the judgment of the subadviser, they are too risky.

In seeking to achieve its objective, the Portfolio invests primarily in the equity securities of U.S. companies that the subadviser believes are undervalued. The subadviser believes that, over time, stock prices (of companies in which the Portfolio invests) will come to reflect the companies' intrinsic economic values. The subadviser uses a disciplined investment process to evaluate the companies in its extensive research universe. Through this process, the subadviser seeks to identify the stocks of companies that offer the best combination of value and potential for price appreciation.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provide some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performance from year to year and by showing how the Portfolio's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2003 17.89% Worst Quarter: 4th Quarter of 2008 -20.31%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	19.19%	-1.80%	.79%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Russell 1000® Value Index (reflects no deduction for fees, expenses or taxes)	19.69	-.25	2.47

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	AllianceBernstein L.P.	Frank Caruso	Senior Vice President	April 2000
AST Investment Services Inc.

SUMMARY: AST AMERICAN CENTURY INCOME & GROWTH PORTFOLIO

The investment objective of the Portfolio is to seek capital growth and, secondarily, current income.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.75%
Distribution (12b-1) Fees		None
Other Expenses		.19%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.94%

	1 Year	3 Years	5 Years	10 Years
AST American Century Income & Growth	$96	$300	$520	$1,155

Principal Investment Strategies. The Portfolio invests primarily in large capitalization, publicly traded U.S. companies. The Portfolio considers large capitalization companies to be those with a market capitalization greater than $2 billion. To select stocks for purchase, the subadviser utilizes quantitative management techniques in a two-step process. In the first step, the Subadviser ranks stocks from most attractive to least attractive. This is determined by using a quantitative model that combines measures of at stock's value as well as measures of its growth potential. To measure value, the subadviser uses ratios of stock price to book value and stock price to cash flow, among others. To measure growth, the subadviser uses the rate of growth in a company's earnings and changes in its earnings estimates, as well as other factors. In the second step, the subadviser uses a technique called portfolio optimization. In portfolio optimization, the subadviser uses a computer to build a portfolio of stocks from the ranking described above that it believes will provide the optimal balance between risk and expected return. The goal is to create a portfolio that provides better returns than its benchmark without taking on significant additional risk. In building the Portfolio, the subadviser also attempts to create a dividend yield that will be greater than that of the S&P 500 Index.

The portfolio managers generally sell a stock when they believe it has become less attractive relative to other opportunities, its risk characteristics outweigh its return opportunity or specific events alter its prospects.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2003 16.27% Worst Quarter: 4th Quarter 2008 -19.98%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	17.77%	-1.26%	-1.14%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Russell 1000® Index (reflects no deduction for fees, expenses or taxes)	28.43	.79	-.49

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	American Century Investment Management, Inc.	Kurt Borgwardt	Senior Vice President, Senior Portfolio Manager	August 1999
AST Investment Services Inc.		Zili Zhang	Senior Vice President, Portfolio Manager	February 2002
		Lynette Pang	Portfolio Manager	February 2006

SUMMARY: AST BALANCED ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to obtain the highest potential total return consistent with its specified level of risk tolerance.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.15%
Distribution (12b-1) Fees		None
Other Expenses		.02%
Acquired Fund Fees & Expenses		.91%
Total Annual Portfolio Operating Expenses		1.08%

	1 Year	3 Years	5 Years	10 Years
AST Balanced Asset Allocation	$110	$343	$595	$1,317

The asset allocation strategy is determined by Prudential Investments LLC (PI) and Quantitative Management Associates LLC (QMA). As a general matter, QMA begins by constructing a neutral allocation for the Portfolio. Each neutral allocation initially divides the assets for the Portfolio across three broad-based securities benchmark indexes. These three benchmark indexes are the Russell 3000 Index, the MSCI EAFE Index, and the Barclays Capital U.S. Aggregate Bond Index. The neutral allocation will emphasize investments in the equity asset class. The selection of specific combinations of Underlying Portfolios for the Portfolio generally will be determined by PI. PI will employ various quantitative and qualitative research methods to establish weighted combinations of Underlying Portfolios that are consistent with the neutral allocation for the Portfolio. QMA will then perform its own forward-looking assessment of macroeconomic, market, financial, security valuation, and other factors. As a result of this assessment, QMA will further adjust the neutral allocation and the preliminary Underlying Portfolio weights for the Portfolio based upon its views on certain factors.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes the stocks of companies with similar investment objectives. The Portfolio's primary custom blended stock index consists of the Russell 3000 Index (48%), Barclays Capital U.S. Aggregate Bond Index (40%) and MSCI EAFE (Morgan Stanley Capital International Europe, Australasia, Far East) Index (GD) (12%). The Portfolio's secondary custom blended stock index consists of the Standard & Poor's 500 Index (60%) and the Barclays Capital U.S. Aggregate Bond Index (40%). The manager determined the weight of each index comprising the blended indexes.

Note : Prior to July 21, 2008 the Portfolio was known as the AST Conservative Asset Allocation Porfolio. Effective July 21, 2008, the Portfolio added new subadvisers and changed its investment objective, policies, strategy, and expense structure. The performance history furnished below prior to July 21, 2008 reflects the investment performance, investment operations, investment policies and investment strategies of the former AST Conservative Asset Allocation Porfolio, and does not represent the acutal or predicted performance of the current Portfolio.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 13.21% Worst Quarter: 4th Quarter of 2008 -14.63%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (12/5/05)
Portfolio	23.30%	1.54%
Index
Standard & Poor's 500 Index (reflects no deduction for feex, expenses or taxes)	26.47	-.65
Primary Blended Index (reflects no deduction for fees, expenses or taxes)	19.99	2.78
Secondary Blended Index (reflects no deduction for fees, expenses or taxes)	18.40	2.21

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Ahrens	Senior VP, Strategic Investment Reserach Group	April 2005
AST Investment Services, Inc.	Quantitative Management Associates LLC (QMA)	Marcus Perl	Portfolio Manager, VP of QMA	July 2006
		Edward L. Campbell	Portfolio Manager, VP of QMA	July 2006

SUMMARY: AST BOND PORTFOLIO 2015

The investment objective of the Portfolio is to seek the highest total return for a specific period of time, consistent with the preservation of capital and liquidity needs. Total return is comprised of current income and capital appreciation.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.64%
Distribution (12b-1) Fees		None
Other Expenses		.17%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.81%
Fee waiver or expense reimbursement+		-
Net annual Portfolio operating expenses		.81%

	1 Year	3 Years	5 Years	10 Years
AST Bond Portfolio 2015	$83	$259	$450	$1,002

+ The Investment Managers (Prudential Investments LLC and AST Investment Services, Inc.) have contractually agreed to waive a portion of their investment management fees and/or reimburse certain expenses for the Portfolio so that the Portfolio's investment management fees plus other expenses (exclusive in all cases of taxes, interest, brokerage commissions, distribution fees, acquired fund fees and expenses and extraordinary expenses) do not exceed 1.00% of the Portfolio's average daily net assets through April 30, 2011. This arrangement may not be terminated or modified prior to April 30, 2011, and may be discontinued or modified thereafter. The decision on whether to renew, modify or discontinue the arrangement after April 30, 2011 will be subject to review by the Investment Managers and the Fund's Board of Trustees.

Principal Investment Strategies. Under normal market conditions, the Portfolio will invest at least 80% of its investable assets in bonds. For purposes of this 80% policy, bonds include: (i) all debt securities and all fixed-income securities, excluding preferred stock, issued by both government and non-government issuers, and (ii) all derivatives and synthetic instruments that have economic characteristics that are similar to such debt securities and such fixed-income securities. The Portfolio will provide 60 days' prior written notice to shareholders of any change in its 80% policy as described above. As used in this Prospectus, the term "investable assets" refers to the Portfolio's net assets plus any borrowings for investment purposes. The Portfolio's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.

The Portfolio will be managed to mature in the year identified in its name in order to match the related liability under certain living benefit programs. As a result, the Portfolio's duration and weighted average maturity will decline over time as the relevant maturity date approaches. On or about the Portfolio's maturity date, all of the securities held by the Portfolio will be sold and all of the outstanding shares of beneficial interest of the Portfolio will be redeemed. Proceeds from that redemption will be reallocated in accordance with the procedures applicable to the contact owner's variable contract.

The Portfolio's subadviser currently intends to maintain an overall weighted average credit quality rating of A- or better for the Portfolio. This target overall credit quality for the Portfolio will be based on ratings as of the date of purchase. In the event the overall credit quality drops below A- due to downgrades of individual portfolio securities, the Portfolio's subadviser will take appropriate action based upon the relevant facts and circumstances.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 3.88% Worst Quarter: 2nd Quarter of 2009 -3.17%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (1/28/2008)
AST Bond Portfolio 2015	-.38%	7.27%
Index
Barclays Capital U.S. Government/Credit Bond Index (reflects no deduction for fees, expenses or taxes)	4.52	4.31

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Investment Management, Inc.	Richard Piccirillo	Principal and Portfolio Manager	January 2008
AST Investment Services, Inc.		Malcolm Dalrymple	Principal and Portfolio Manager	January 2008

SUMMARY: AST BOND PORTFOLIO 2016

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.64%
Distribution (12b-1) Fees		None
Other Expenses		1.10%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.74%
Fee waiver or expense reimbursement+		(.74%)
Net annual Portfolio operating expenses		1.00%

	1 Year	3 Years	5 Years	10 Years
AST Bond Portfolio 2016	$102	$476	$874	$1,990

Past Performance. No performance history is presented for this Portfolio, because it does not yet have a full calendar year of performance.

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Investment Management, Inc.	Richard Piccirillo	Principal and Portfolio Manager	January 2009
AST Investment Services, Inc.		Malcolm Dalrymple	Principal and Portfolio Manager	January 2009

SUMMARY: AST BOND PORTFOLIO 2017

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.64%
Distribution (12b-1) Fees		None
Other Expenses		.32%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.96%
Fee waiver or expense reimbursement+		-
Net annual Portoflio operating expenses		.96%

	1 Year	3 Years	5 Years	10 Years
AST Bond Portfolio 2017	$98	$306	$531	$1,178

Past Performance. No performance history is presented for this Portfolio, because it does not yet have a full calendar year of performance.

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Investment Management, Inc.	Richard Piccirillo	Principal and Portfolio Manager	January 2010
AST Investment Services, Inc.		Malcolm Dalrymple	Principal and Portfolio Manager	January 2010

SUMMARY: AST BOND PORTFOLIO 2018

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.64%
Distribution (12b-1) Fees		None
Other Expenses		.19%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.83%
Fee waiver or expense reimbursement+		-
Net annual Portfolio operating expenses		.83%

	1 Year	3 Years	5 Years	10 Years
AST Bond Portfolio 2018	$85	$265	$460	$1,025

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 4.83% Worst Quarter: 2nd Quarter of 2009 -6.11%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception
Portfolio	-6.05%	7.52
Index
Barclays Capital U.S. Government/Credit Bond Index (reflects no deduction for fees, expenses or taxes)	4.52	4.31

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Investment Management, Inc.	Richard Piccirillo	Principal and Portfolio Manager	January 2008
AST Investment Services, Inc.		Malcolm Dalrymple	Principal and Portfolio Manager	January 2008

SUMMARY: AST BOND PORTFOLIO 2019

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.64%
Distribution (12b-1) Fees		None
Other Expenses		.22%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.86%
Fee waiver or expense reimbursement+		-
Net annual Portfolio operating expenses		.86%

	1 Year	3 Years	5 Years	10 Years
AST Bond Portfolio 2019	$88	$274	$477	$1,061

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 5.09% Worst Quarter: 2nd Quarter of 2009 -6.87%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (1/28/08)
Portfolio	-7.70%	6.85
Index
Barclays Capital U.S. Government/Credit Bond Index (reflects no deduction for fees, expenses or taxes)	4.52	4.31

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Investment Management, Inc.	Richard Piccirillo	Principal and Portfolio Manager	January 2008
AST Investment Services, Inc.		Malcolm Dalrymple	Principal and Portfolio Manager	January 2008

SUMMARY: AST BOND PORTFOLIO 2020

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.64%
Distribution (12b-1) Fees		None
Other Expenses		1.95%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		2.59%
Fee waiver or expense reimbursement+		(1.59%)
Net annual Portfolio operating expenses		1.00%

	1 Year	3 Years	5 Years	10 Years
AST Bond Portfolio 2020	$102	$654	$1,232	$2,806

Past Performance. No performance history is presented for this Portfolio, because it does not yet have a full calendar year of performance.

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Investment Management, Inc.	Richard Piccirillo	Principal and Portfolio Manager	January 2009
AST Investment Services, Inc.		Malcolm Dalrymple	Principal and Portfolio Manager	January 2009

SUMMARY: AST BOND PORTFOLIO 2021

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.64%
Distribution (12b-1) Fees		None
Other Expenses		.32%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.96%
Fee waiver or expense reimbursement+		-
Net annual Portfolio operating expenses		.96%

	1 Year	3 Years	5 Years	10 Years
AST Bond Portfolio 2021	$98	$306	$531	$1,178

Past Performance. No performance history is presented for this Portfolio, because it does not yet have a full calendar year of performance.

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Investment Management, Inc.	Richard Piccirillo	Principal and Portfolio Manager	January 2010
AST Investment Services, Inc.		Malcolm Dalrymple	Principal and Portfolio Manager	January 2010

SUMMARY: AST CAPITAL GROWTH ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to obtain the highest potential total return consistent with its specified level of risk tolerance.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.15%
Distribution (12b-1) Fees		None
Other Expenses		.02%
Acquired Fund Fees & Expenses		.94%
Total Annual Portfolio Operating Expenses		1.11%

	1 Year	3 Years	5 Years	10 Years
AST Capital Growth Asset Allocation	$113	$353	$612	$1,352

Quantitative Management Associates LLC (QMA) begins by constructing a neutral allocation for the Portfolio. Each neutral allocation initially divides the assets for the Portfolio across three broad-based securities benchmark indexes: the Russell 3000 Index, the MSCI EAFE Index, and the Barclays Capital U.S. Aggregate Bond Index. The neutral allocation will emphasize investments in the equity asset class. The selection of specific combinations of Underlying Portfolios for each Portfolio generally will be determined by Prudential Investments LLC (PI). PI will employ various quantitative and qualitative research methods to establish weighted combinations of Underlying Portfolios that are consistent with the neutral allocation for each Portfolio. QMA will then perform its own forward-looking assessment of macroeconomic, market, financial, security valuation, and other factors. As a result of this assessment, QMA will further adjust the neutral allocation and the preliminary Underlying Portfolio weights for each Portfolio based upon its views on certain factors.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes the stock of companies with similar investment objectives. The Portfolio's primary custom blended stock index consists of the Russell 3000 Index (60%), the MSCI EAFE Index (GD) (15%) and the Barclays Capital Aggregate Bond Index (25%). The Portfolio's secondary custom blended stock index consists of the Standard & Poor's 500 Index (75%) and the Barclays Capital Aggregate Bond Index (25%). The manager determined the weight of each index comprising the blended indexes.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 14.82% Worst Quarter: 4th Quarter of 2008 -18.12%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (12/5/05)
Portfolio	25.33%	.47%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-.65
Primary Blended Index (reflects no deduction for fees, expenses or taxes)	23.48	1.87
Secondary Blended Index (reflects no deduction for fees, expenses or taxes)	24.64	1.55

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Ahrens	Senior VP, Strategic Investment Reserach Group	April 2005
AST Investment Services, Inc.	Quantitative Management Associates LLC (QMA)	Marcus Perl	Portfolio Manager, VP of QMA	July 2006
		Edward L. Campbell	Portfolio Manager, VP of QMA	July 2006

SUMMARY: AST CLS GROWTH ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to obtain the highest potential total return consistent with its level of risk tolerance.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the vallue of your investment)
Management Fees		.30%
Distribution (12b-1) Fees		None
Other Expenses		.06%
Acquired Fund Fees & Expenses		.90%
Total Annual Portfolio Operating Expenses		1.26%

	1 Year	3 Years	5 Years	10 Years
AST CLS Growth Asset Allocation	$128	$400	$692	$1,523

Principal Investment Strategies . The Portfolio is a "fund of funds." That means that the Portfolio invests primarily or exclusively in one or more mutual funds in accordance with its own asset allocation strategy. The mutual funds that may be used in connection with the Portfolio includes: (i) the other investment portfolios of the Fund that are not operated as "funds-of-funds" (collectively, the Underlying Fund Portfolios); (ii) certain exchange-traded funds (i.e., investment companies that are registered under the Investment Company Act of 1940 (the 1940 Act) as open-end funds or unit investment trusts and that have shares that trade intra-day on stock exchanges at market-determined prices) (collectively, the Underlying ETFs); and (iii) registered or non-registered money market funds advised by the Investment Manager or one of their affiliates (collectively, the Underlying Money Market Portfolios). For the purposes of this section of the Prospectus, the Underlying Fund Portfolios, the Underlying Money Market Portfolios, and the Underlying ETFs are collectively referred to as the "Underlying Portfolios."

Fund of funds risk . In addition to the risks associated with the indirect investment in the Underlying Portfolios, the Portfolio is subject to the following additional risks: to the extent the Portfolio concentrates its assets among Underlying Portfolios that invest principally in one or several asset classes, the Portfolio may from time to time underperform mutual funds exposed primarily to other asset classes; the ability of the Portfolio to achieve its investment objective depends on the ability of the selected Underlying Portfolios to achieve their investment objectives; the performance of the Portfolio may be affected by large purchases and redemptions of Underlying Portfolio shares; and there is a potential conflict of interest between the Portfolio and its adviser, PI and the Subadviser, which could impact the Portfolio.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 15.85 % Worst Quarter: 4th Quarter of 2008 -18.22%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception(11/19/07)
Portfolio	26.85%	-2.51%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-10.62
Blended Index (reflects no deduction for fees, expenses or taxes)	22.15	-5.51

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Ahrens	Senior VP, Strategic Investment Reserach Group	November 2007
AST Investment Services, Inc.	CLS Investments, LLC	Robert Jergovic CFA	Chief Investment Officer	November 2007
		Scott Kubie CFA	Chief Strategist	November 2007
		J.J. Schenkelberg CFA	Senior Portfolio Manager	November 2007

SUMMARY: AST CLS MODERATE ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to obtain the highest potential total return consistent with its level of risk tolerance.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.30%
Distribution (12b-1) Fees		None
Other Expenses		.03%
Acquired Fund Fees & Expenses		.83%
Total Annual Portfolio Operating Expenses		1.16%

	1 Year	3 Years	5 Years	10 Years
AST CLS Moderate Asset Allocation	$118	$368	$638	$1,409

Fund of funds risk . In addition to the risks associated with the indirect investment in the Underlying Portfolios, the Portfolio is subject to the following additional risks: to the extent the Portfolio concentrates its assets among Underlying Portfolios that invest principally in one or several asset classes, the Portfolio may from time to time underperform mutual funds exposed primarily to other asset classes; the ability of the Portfolio to achieve its investment objective depends on the ability of the selected Underlying Portfolios to achieve their investment objectives; the performance of the Portfolio may be affected by large purchases and redemptions of Underlying Portfolio shares; and there is a potential conflict of interest between the Portfolio and its adviser, PI and the Subadviser, which could impact the Portfolio.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 13.83% Worst Quarter: 4th Quarter of 2008 -13.95%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception(11/19/07)
Portfolio	23.39%	-4.90%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-10.62
Blended Index (reflects no deduction for fees, expenses or taxes)	17.66	-2.31

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Ahrens	Senior VP, Strategic Investment Reserach Group	November 2007
AST Investment Services, Inc.	CLS Investments, LLC	Robert Jergovic CFA	Chief Investment Officer	November 2007
		Scott Kubie CFA	Chief Strategist	November 2007
		J.J. Schenkelberg CFA	Senior Portfolio Manager	November 2007

SUMMARY: AST COHEN & STEERS REALTY PORTFOLIO

The Investment Objective of the Portfolio is to maximize total return through investment in real estate securities.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.00%
Distribution (12b-1) Fees		None
Other Expenses		.16%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.16%

	1 Year	3 Years	5 Years	10 Years
AST Cohen & Steers Realty	$118	$368	$638	$1,409

Principal Investment Strategies . The Portfolio invests, under normal circumstances, at least 80% of the value of its net assets in securities of real estate related issuers. The Portfolio pursues its investment objective of maximizing total return by seeking, with approximately equal emphasis, capital growth and current income. Generally, the equity securities of real estate related issuers will consist of common stocks (including shares in real estate investment trusts), rights or warrants to purchase common stocks, securities convertible into common stocks where the conversion feature represents, in the subadviser's view, a significant element of the securities' value, and preferred stocks. Real estate related issuers include companies that derive at least 50% of revenues from the ownership, construction, financing, management or sale of real estate or that have at least 50% of assets in real estate.

Non-diversification risk . As a non-diversified portfolio, the Portfolio may hold larger positions in single issuers than a diversified fund. Because the Portfolio is not required to meet diversification requirements that are applicable to some funds, there is an increased risk that the Portfolio may be adversely affected by the performance of relatively few securities or the securities of a single issuer.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 36.62% Worst Quarter: 4th Quarter of2008 -35.78%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 Years
Portfolio	31.93%	1.50%	10.53%
Index
NAREIT Equity REIT Index (reflects no deduction for fees, expenses or taxes)	27.99	.36	10.63
Wilshire US REIT TR Index (reflects no deduction for fees, expenses or taxes)	28.60	-.05	10.68

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Cohen & Steers Capital Management, Inc.	Martin Cohen	Co-Chairman, Co-CEO, and Portfolio Manager	January 1998
AST Investment Services, Inc.		Robert H. Steers	Co-Chairman, Co-CEO, and Portfolio Manager	January 1998
		Joseph M. Harvey	President, Global CIO, and Senior Portfolio Manager	July 2005
		Jon Y. Cheigh, CPA	Senior Vice President, Portfolio Manager	July 2007

SUMMARY: AST FEDERATED AGGRESSIVE GROWTH PORTFOLIO

The Portfolio's Investment Objective is to seek capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.95%
Distribution (12b-1) Fees		None
Other Expenses		.19%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.14%

	1 Year	3 Years	5 Years	10 Years
AST Federated Aggressive Growth	$116	$362	$628	$1,386

Prinicpal Investment Strategies. In seeking to meet its investment objective, the Fund invests primarily in the stocks of small companies that are traded on national security exchanges, the NASDAQ stock market and on the over-the-counter market. Up to 30% of the Fund's net assets may be invested in foreign securities. Solely for purposes of complying with this policy an issuer's security will be considered to be a foreign security if the security is denominated in a foreign currency or purchased on a securities exchange outside the United States. Certain securities not included in this definition of foreign securities may still be subject to risks of foreign investing that are described in this Prospectus. For example, an issuer that is organized in an offshore jurisdiction but who has its principal place of business or whose securities are traded principally on a securities exchange in the United States will not be considered a foreign security for purposes of this policy but may still be subject to risks associated with foreign securities. When investing in foreign securities, the Fund's Adviser may emphasize investment in a particular country or group of countries which may subject the Fund to the risks of
investing in such country or group of countries and/or emerging market risks to a greater extent than if the Fund's foreign security exposure was diversified over a greater number of countries. The Adviser's process for selecting investments is bottom-up and growth-oriented.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provides some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performace from year to year and by showing how the Portfolio's average annual returns for 1 year, 5 years and since inception of the Portfolio compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2003 35.55% Worst Quarter: 3rd Quarter of 2001 -32.24%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	Since inception (10/23/00)
Portfolio	32.66%	.38%	.92%
Index
Russell 2000 Index (reflects no deduction for fees, expenses or taxes)	27.17	.51	3.89
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes)	34.47	.87	-.28

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Federated Equity Management Company of Pennsylvania/Federated Global Investment Management Corp.	Aash M. Shah	Vice President, Portfolio Manager	May 2002
AST Investment Services, Inc.		Lawrence Auriana	Portfolio Manager	May 2002
		Hans P. Utsch	Portfolio Manager	May 2002
		John Ettinger	Portfolio Manager	May 2004

SUMMARY: AST FI PYRAMIS® ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to maximize total return.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.85%
Distribution (12b-1) Fees		None
Other Expenses		.42%
-Dividend Expense on Short Sales	.15%
-Broker Fees and Expenses on Short Sales	-
Acquired Portfolio Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.27%

	1 Year	3 Years	5 Years	10 Years
AST FI Pyramis ® Asset Allocation	$129	$403	$697	$1,534

Principal Investment Strategies. In seeking to achieve the Portfolio's investment objective, the Portfolio's assets are allocated across six uniquely specialized investment strategies (collectively, the Investment Strategies). The Portfolio has four strategies that invest primarily in equity securities (i.e., the Equity Strategies), one fixed-income strategy (i.e., the Broad Market Duration Strategy), and one strategy designed to provide liquidity (i.e., the Liquidity Strategy). These investment strategies and the combined allocation of Portfiolo assets to these strategies are described in the table below:

Strategy	Description	Estimated Percentage of Portfolio Assets
Large Cap Core 130/30 Strategy	This strategy is one of the Equity Strategies. It involves selling short a portion of the securities or derivative instruments held by the Portfolio and using the proceeds from such short sales, or other borrowings, to purchase additional securities or derivative instruments on a long basis. "130" stands for 130% exposure to the long portfolio and "30" stands for 30% exposure to the short portfolio. The strategy is expected to be sector neutral as compared to the S&P 500 Index and broadly diversified.	26% (May range from 21%-31% under normal circumstances)
Small/Mid Cap Core Strategy	This strategy is one of the Equity Strategies. It will produce a broadly diversified portfolio of small and mid-cap securities. The strategy is expected to be sector neutral as compared to the Russell 2500 Index.	19% (May range from 14%-24% under normal circumstances)
International Value Strategy	This strategy is one of the Equity Strategies. It uses a value-oriented investment approach to produce a diversified international portfolio. The strategy will focus on stocks that are believed to be inexpensively priced in relation to their earnings power and cash generation capability.	10% (May range from 5%-15% under normal circumstances)
International Growth Strategy	This strategy is one of the Equity Strategies. It uses a growth-oriented investment approach to produce a diversified portfolio of large-, medium-, and small-cap companies in Europe, Japan, and the Pacific Basin. The strategy will concentrate on companies with above-average earnings growth combined with attractive relative valuations and companies that possess fundamental strength in technology or business strategy that provide a competitive advantage.	10% (May range from 5%-15% under normal circumstances)
Broad Market Duration Strategy	Ths strategy will primarily invest in a full spectrum of US dollar denominated investment-grade securities and related instruments. The strategy is intended for the assets attributable to this strategy to be well diversified across sectors and issuers. A typical portfolio for this strategy will hold approximately 125-150 issuers with an average weighting per issuer of 0.5% of relevant assets. The duration should be similar to that of the Barclays Capital Aggregate Bond Index. As of June 30, 2009, the average duration of the Barclays Capital Index was approximately 4.30 years.	30% (May range from 25%-35% under normal circumstances)
Liquidity Strategy	Up to approximately 5% of the Portfolio's net assets may be allocated to: (i) index futures, other futures contracts, and options thereon in an attempt to provide liquid exposure to their respective equity and fixed-income benchmark indices and (ii) cash, money market equivalents, short-term debt instruments, money market funds, and short-term debt funds to satisfy all applicable margin requirements for the futures contracts and to provide additional portfolio liquidity to satisfy large-scale redemptions and any variation margin calls with respect to the futures contracts. The Portfolio may also invest in ETFs for additional exposure to relevant markets.	5% (May range from 0%-10% under normal circumstances)

Note : The AST FI Pyramis® Asset Allocation Portfolio, formerly the AST Niemann Capital Growth Asset Allocation Portfolio, changed subadvisers and changed its investment objective, policies, and strategy effective March 15, 2010. The 1-year and Since-Inception performance figures as well as the annual returns prior to March 15, 20010 for the Portfolio reflect investment performance, investment operations, investment policies, and investment strategies of the former subadviser, and does not represent the actual or predicted performance of the Portfolio or its current subadviser.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 13.41% Worst Quarter: 4th Quarter of 2008 -13.83%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (11/19/07)
Portfolio	21.23%	-5.64%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-10.62
Blended Index (reflects no deduction for fees, expenses or taxes)	22.15	-5.51

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Pyramis Global Advisors, LLC, a unit of Fidelity Investments	Mark Friebel	Senior Vice President and Head of Asset Allocation	March 2010
AST Investment Services, Inc.

SUMMARY: AST FIRST TRUST BALANCED TARGET PORTFOLIO

The investment objective of the Portfolio is long-term capital growth balanced by current income.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.85%
Distribution (12b-1) Fees		None
Other Expenses		.14%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.99%

	1 Year	3 Years	5 Years	10 Years
AST First Trust Balanced Target	$101	$315	$547	$1,213

Principal Investment Strategies . The Portfolio normally invests approximately 65% of its net assets in equity securities and approximately 35% of its net assets in fixed-income securities as of the annual security selection date. Depending on market conditions, the equity portion may range between 60-70% of the Portfolio's net assets and the fixed-income portion may range between 30-40% of the Portfolio's net assets.

In seeking to achieve its investment objective, the Portfolio allocates its assets across six uniquely specialized investment strategies. On or about the annual selection date (currently March 1), the Portfolio establishes both the percentage allocations among the six investment strategies under normal circumstances and the percentage allocation of each security's position within each of the five investment strategies that invest primarily in equity securities.

License risk . The termination of a license used by the Portfolio or its adviser may have a significant effect on the operation of the Portfolio.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes the stocks of companies with similar investment objectives. The Portfolio's primary custom blended stock index consists of the Russell 3000 Index (45%), the MSCI EAFE Index (20%), and the Barclays Capital U.S. Corporate Investment Grade Bond Index (35%). The Portfolio's secondary custom blended stock index consists of the Standard & Poor's 500 Index (65%) and the Dow Jones Corporate Bond Index (35%). The manager determined the weight of each index comprising the blended indexes.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 16.80% Worst Quarter: 4th Quarter of 2008 -16.99%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (3/20/06)
Portfolio	23.85%	-1.50%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-1.80
Primary Blended Index (reflects no deduction for fees, expenses or taxes)	26.25	1.40
Secondary Blended Index (reflects no deduction for fees, expenses or taxes)	23.77	1.75

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	First Trust Advisors L.P.	Robert F. Carey	Chief Investment Officer and Senior Vice President	March 2006
AST Investment Services, Inc.		Roger F. Testin	Senior Vice President	March 2006
		Jon C. Erickson	Senior Vice President	March 2006
		David G. McGarel	Senior Vice President	March 2006
		Todd Larson	Vice President and Fixed Income Portfolio Manager	January 2008
		Daniel J. Lindquist	Senior Vice President	March 2006

SUMMARY: AST FIRST TRUST CAPITAL APPRECIATION TARGET PORTFOLIO

The investment objective of the Portfolio is long-term capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.85%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.98%

	1 Year	3 Years	5 Years	10 Years
AST First Trust Capital Appreciation Target	$100	$312	$542	$1,201

Principal Investment Strategies . The Portfolio normally invests approximately 80% of its net assets in equity securities and approximately 20% of its net assets in fixed-income securities as of the annual security selection date. Depending on market conditions, the equity portion may range between 75-85% of the Portfolio's net assets and the fixed-income portion may range between 15-25% of the Portfolio's net assets.

License risk . The termination of a license used by the Portfolio or its adviser may have a significant effect on the operation of the Portfolio.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes the stocks of companies with similar investment objectives. The Portfolio's primary custom blended stock index consists of the Russell 3000 Index (55%), the MSCI EAFE Index (25%) and the Barclays Capital U.S. Corporate Investment Grade Bond Index (20%). The Portfolio's secondary custom blended stock index consists of the Standard & Poor's 500 Index (80%) and the Dow Jones Corporate Bond Index (20%). The manager determined the weight of each index comprising the blended indexes.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 16.29% Worst Quarter: 4th Quarter 2008 -21.51%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (3/20/06)
Portfolio	25.98%	-3.21%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-1.80
Primary Blended Index (reflects no deduction for fees, expenses or taxes)	27.80	.21
Secondary Blended Index (reflects no deduction for fees, expenses or taxes)	24.99	.26

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	First Trust Advisors L.P.	Robert F. Carey	Chief Investment Officer and Senior Vice President	March 2006
AST Investment Services, Inc.		Roger F. Testin	Senior Vice President	March 2006
		Jon C. Erickson	Senior Vice President	March 2006
		David G. McGarel	Senior Vice President	March 2006
		Todd Larson	Vice President and Fixed Income Portfolio Manager	January 2008
		Daniel J. Lindquist	Senior Vice President	March 2006

SUMMARY: AST GLOBAL REAL ESTATE PORTFOLIO

The investment objective of the Portfolio is capital appreciation and income.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.00%
Distribution (12b-1) Fees		None
Other Expenses		.23%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.23%

	1 Year	3 Years	5 Years	10 Years
AST Global Real Estate	$125	$390	$676	$1,489

Principal Investment Strategies. In pursuing its investment objective, the Portfolio will normally invest at least 80% of its investable assets (net assets plus any borrowings made for investment purposes) in equity-related securities of real estate companies. This means that the Portfolio will concentrate its investments in companies that derive at least 50% of their revenues from the ownership, construction, financing, management or sale of commercial, industrial or residential real estate or companies that have at least 50% of their assets in these types of real estate-related areas. The Portfolio will invest in equity-related securities of real estate companies on a global basis, which means that the companies may be U.S. companies or foreign companies. The Portfolio may invest up to 15% of its net assets in ownership interests in commercial real estate through investments in private real estate.

Liquidity and valuation risk of private real estate-related investments . Private real estate-related investments are generally considered illiquid and generally cannot be readily sold. As a result, private real estate-related investments owned by the Portfolio will be valued at fair value pursuant to guidelines established by the Fund's Board of Trustees. The guidelines incorporate periodic independent appraised value of the properties, but an appraisal is only an estimate of market value. No assurance can be given that the fair value prices accurately reflect the price the Portfolio would receive upon the sale of the investment.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 32.06% Worst Quarter: 1st Quarter 2009 -20.27%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception
Portfolio	35.10%	-18.79
Index
S&P Developed Property TR Index (reflects no deduction for fees, expenses or taxes)	36.23	-18.26

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Real Estate Investors, a business unit of Prudential Investment Management, Inc.	Marc Halle	Managing Director and Senior Portfolio Manager	April 2008
AST Investment Services, Inc.		Richard J. Romano	Principal and Portfolio Manager	April 2008
		Joanna Mulford	Principal and Portfolio Manager	April 2008
		Gek Lang Lee	Principal and Portfolio Manager	April 2008

SUMMARY: AST GOLDMAN SACHS CONCENTRATED GROWTH PORTFOLIO

The investment objective of the Portfolio is long-term growth of capital.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.15%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.05%

	1 Year	3 Years	5 Years	10 Years
AST Goldman Sachs Concentrated Growth	$107	$334	$579	$1,283

Principal Investment Strategies. The Portfolio will pursue its objective, under normal circumstances, by investing primarily in equity securities. Equity securities include common stocks, preferred securities, warrants and securities convertible into or exchangeable for common or preferred stocks. Investments will be in companies that the Subadviser believes have potential to achieve capital appreciation over the long-term. The Portfolio seeks to achieve its investment objective by investing, under normal circumstances, in approximately 30-45 companies that are considered by the subadviser to be positioned for long-term growth.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 20.86% Worst Quarter: 4th Quarter of 2008 -27.39%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	49.40%	2.94%	-6.75%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)	37.21	1.63	-3.99

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Goldman Sachs Asset Management, L.P.	Steven M. Barry	Managing Director	May 2002
AST Investment Services, Inc.		David G. Shell	Managing Director	May 2002
		Timothy Leahy	Managing Director	May 2009

SUMMARY: AST GOLDMAN SACHS MID-CAP GROWTH PORTFOLIO

The investment objective of the Portfolio is to seek long-term growth of capital.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.00%
Distribution (12b-1) Fees		None
Other Expenses		.18%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.18%

	1 Year	3 Years	5 Years	10 Years
AST Goldman Sachs Mid-Cap Growth	$120	$375	$649	$1,432

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in medium capitalization companies. The 80% investment requirement applies at the time the Portfolio invests its assets. The Portfolio pursues its objective by investing primarily in equity securities selected for their growth potential. Equity securities include common stocks, preferred stocks, warrants and securities convertible into or exchangeable for common or preferred stocks. Medium capitalization companies are those whose market capitalizations (measured at the time of investment) fall within the range of companies in the Russell Midcap® Growth Index.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provides some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performace from year to year and by showing how the Portfolio's average annual returns for 1 year, 5 years and since inception of the Portfolio compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 22.49% Worst Quarter: 4th Quarter of 2008 -29.85%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	Since Inception (5/1/00)
Portfolio	57.09%	4.33%	-6.08%
Index
S&P MidCap 400 Index (reflects no deduction for fees, expenses or taxes)	37.38	3.27	5.67
Russell MidCap Growth Index (reflects no deduction for fees, expenses or taxes)	46.29	2.40	-1.46

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Goldman Sachs Asset Management, L.P.	Steven M. Barry	Managing Director	May 2002
AST Investment Services, Inc.		David G. Shell	Managing Director	May 2002
		Warren E. Fisher, CFA	Vice President, Portfolio Manager	May 2009

SUMMARY: AST GOLDMAN SACHS SMALL-CAP VALUE PORTFOLIO

The investment objective of the Portfolio is to seek long-term capital appreciation.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.95%
Distribution (12b-1) Fees		None
Other Expenses		.24%
Acquired Fund Fees & Expenses		.01%
Total Annual Portfolio Operating Expenses		1.20%

	1 Year	3 Years	5 Years	10 Years
AST Goldman Sachs Small-Cap Value	$122	$381	$660	$1,455

Principal Investment Strategies. The Portfolio will seek its objective, under normal circumstances, through investments primarily in equity securities of small capitalization companies that are believed to be undervalued in the marketplace. Typically, in choosing stocks, the subadviser looks for companies using the subadviser's value investment philosophy. The subadviser seeks to identify well-positioned businesses that have attractive returns on capital, sustainable earnings and cash flow, and strong company management focused on long-term returns to shareholders as well as attractive valuation opportunities where the intrinsic value is not reflected in the stock price. Small capitalization companies are defined as companies within the market capitalization range of the Russell 2000® Value Index (measured at the time of investment).

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 19.91% Worst Quarter: 4th Quarter of 2008 -25.03%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 Years
Portfolio	26.85%	1.68%	9.58%
Index
Russell 2000 Index (reflects no deduction for fees, expenses or taxes)	27.17	.51	3.51
Russell 2000 Value Index (reflects no deduction for fees, expenses or taxes)	20.58	-.01	8.27

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Goldman Sachs Asset Management, L.P.	Chip Otness	Managing Director and Portfolio Manager	May 2001
AST Investment Services, Inc.		J. Kelly Flynn	Managing Director and Portfolio Manager	January 2002
		Dolores Bamford	Managing Director and Portfolio Manager	April 2002
		Scott Carroll	Managing Director and Portfolio Manager	May 2002
		Robert Crystal	Vice President and Portfolio Manager	March 2006
		Sally Pope Davis	Vice President and Portfolio Manager	January 2006

FINANCIAL INTERMEDIARY

SUMMARY: AST HIGH YIELD PORTFOLIO

The investment objective of the Portfolio is to seek maximum total return, consistent with preservation of capital and prudent investment management.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.75%
Distribution (12b-1) Fees		None
Other Expenses		.16%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.91%

	1 Year	3 Years	5 Years	10 Years
AST High Yield	$93	$290	$504	$1,120

Principal Investment Strategies. The Portfolio will invest, under normal circumstances, at least 80% of the Portfolio's net assets plus any borrowings for investment purposes (measured at the time of purchase) in non-investment grade high-yield fixed-income investments, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. Non-investment grade securities are commonly known as "junk bonds" and securities rated Ba or lower by Moody's Investors Services, Inc. or equivalently rated by Standard & Poor's Corporation or Fitch, or, if unrated, determined by the subadviser to be of comparable quality.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 14.03% Worst Quarter: 4th Quarter of 2008 -15.87%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	35.55%	2.91%	3.50%
Index
BofA Merrill Lynch U.S. High Yield Master II Index (reflects no deduction for fees, expenses or taxes)	57.51	6.35	6.52
Barclays Capital High Yield 2% Issuer Capped Index (reflects no deduction for fees, expenses or taxes)	58.76	6.49	6.87

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Pacific Investment Management Company LLC	Andrew Jessop	Executive Vice President and Portfolio Manager	January 2010
AST Investment Services, Inc.

SUMMARY: AST HORIZON GROWTH ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to obtain the highest potential total return consistent with its level of risk tolerance.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.30%
Distribution (12b-1) Fees		None
Other Expenses		.06%
Acquired Fund Fees & Expenses		.87%
Total Annual Portfolio Operating Expenses		1.23%

	1 Year	3 Years	5 Years	10 Years
AST Horizon Growth Asset Allocation	$125	$390	$676	$1,489

Under normal circumstances, at least 90% of the Portfolio's assets will be allocated across as many as seven different "core" investment categories. The seven "core" investment categories include: (i) domestic large-cap and mid-cap value equity securities; (ii) domestic large-cap and mid-cap growth equity securities; (iii) domestic small-cap value equity securities; (iv) domestic small-cap growth equity securities; (v) international large-cap value equity securities; (vi) international large-cap growth equity securities; and (vii) domestic fixed-income securities, including U.S. Government securities, investment grade corporate, mortgage-backed, and asset-backed securities, and cash/money market instruments. Only Underlying Fund Portfolios selected by PI will be used to gain exposure to these "core" investment categories.

Under normal circumstances, no more than 10% of the Portfolio's assets will be allocated to "off-benchmark" investments. "Off-benchmark" investments may result in exposure to asset classes or investment styles that are not covered by, or are sub-sets of, the above-referenced "core" investment categories. Examples of "off-benchmark" investments include, but are not limited to, investments in: (i) equity sectors such as real estate, technology, utilities, financials, or healthcare; (ii) inflation-indexed debt securities; (iii) international debt securities; and (iv) commodities. Only Underlying ETFs will be used to gain exposure to "off-benchmark" investments; provided, however, that leveraged Underlying ETFs and inverse Underlying ETFs (i.e., Underlying ETFs that seek investment results corresponding to the inverse (opposite) of the performance of an assigned index) may not be used in connection with the Portfolio.

It is expected that the Portfolio's subadviser will employ various tactical asset allocation strategies in connection with their establishment of target asset allocations. In general terms, tactical asset allocation involves occasional, short-term, tactical deviations from the base asset class mix in order to capitalize on unusual or exceptional investment opportunities. Redemptions of Underlying Fund Portfolio shares, however, are subject to certain limits established by the Investment Managers from time to time. These limits may adversely affect the Portfolio's investment performance by hindering the subadviser's ability to utilize its tactical asset allocation strategy to capitalize on unusual or exceptional investment opportunities.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 15.34% Worst Quarter: 4th Quarter of 2008 -15.73%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception(11/19/07)
Portfolio	26.67%	-5.05%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-10.62
Blended Index (reflects no deduction for fees, expenses or taxes)	22.15	-5.51

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Ahrens	Senior VP, Strategic Investment Reserach Group	November 2007
AST Investment Services, Inc.	Horizon Investments, LLC	Robert J. Cannon	President, CEO, and Managing Member	November 2007
		Jeffrey J. Roach, PhD	Chief Economist	November 2007

SUMMARY: AST HORIZON MODERATE ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to obtain the highest potential total return consistent with its level of risk tolerance.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.30%
Distribution (12b-1) Fees		None
Other Expenses		.04%
Acquired Fund Fees & Expenses		.82%
Total Annual Portfolio Operating Expenses		1.16%

	1 Year	3 Years	5 Years	10 Years
AST Horizon Moderate Asset Allocation	$118	$368	$638	$1,409

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes the stocks of companies with similar investment objectives. The Portfolio's custom blended stock index consists of the Russell 3000 Index (40%), Barclays Capital U.S. Aggregate Bond Index (50%) and MSCI EAFE (Morgan Stanley Capital International Europe, Australasia, Far East) Index (GD)
(10%). The manager determined the weight of each index comprising the blended indexes.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 12.83% Worst Quarter: 4th Quarter of 2008 -12.17%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (11/19/07)
Portfolio	23.38%	-2.25%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-10.62
Blended Index (reflects no deduction for fees, expenses or taxes)	17.66	-2.31

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Ahrens	Senior VP, Strategic Investment Reserach Group	November 2007
AST Investment Services, Inc.	Horizon Investments, LLC	Robert J. Cannon	President, CEO, and Managing Member	November 2007
		Jeffrey J. Roach, PhD	Chief Economist	November 2007

SUMMARY: AST INTERNATIONAL GROWTH PORTFOLIO

The investment objective of the Portfolio is long-term growth of capital.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.00%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.13%

	1 Year	3 Years	5 Years	10 Years
AST International Growth	$115	$359	$622	$1,375

Principal Investment Strategies. The Portfolio will invest, under normal circumstances, at least 80% of the value of its assets in securities of issuers that are economically tied to countries other than the United States. Equity securities include common stocks, preferred stocks, warrants, securities convertible into or exchangeable for common or preferred stocks, American Depositary Receipts (ADRs) and other similar depositary receipts and shares. The Portfolio has the flexibility to invest on a worldwide basis in companies and organizations of any size, regardless of country of organization or place of principal business activity. The Portfolio normally invests primarily in securities of issuers from at least five different countries, which may include countries with emerging markets, excluding the United States. Although the Portfolio intends to invest at least 80% of its assets in the securities of issuers located outside the United States, it may at times invest in U.S. issuers and it may at times invest all of its assets in fewer than five countries or even a single country.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 23.46% Worst Quarter: 3rd Quarter of 2008 -25.19%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	35.29%	2.48%	-2.36%
Index
Morgan Stanley Capital International (MSCI) EAFE Index (GD) (reflects no deduction for fees, expenses or taxes)	32.46	4.02	1.58

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	William Blair & Company LLC	W. George Greig	Principal and Portfolio Manager	November 2002
AST Investment Services, Inc.		David Merjan, CFA	Co-Portfolio Manager	November 2008
	Marsico Capital Management, LLC	James G. Gendelman	Portfolio Manager	November 2006

SUMMARY: AST INTERNATIONAL VALUE PORTFOLIO

The investment objective of the Portfolio is to seek capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.00%
Distribution (12b-1) Fees		None
Other Expenses		.14%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.14%

	1 Year	3 Years	5 Years	10 Years
AST International Value	$116	$362	$628	$1,386

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its investable assets in equity securities. The 80% requirement applies at the time the Portfolio invests its assets. Equity securities include common stocks, securities convertible into common stocks and securities having common characteristics or other derivative instruments whose value is based on common stocks such as rights, warrants or options to purchase common stock, preferred stock, convertible preferred stock, convertible bonds, convertible debentures, convertible notes, depository receipts, futures contracts and swaps.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 24.55% Worst Quarter: 2nd Quarter of 2000 -22.77%

Average Annual Total Returns (For the periods ended Decemb er 31, 2009)
	1 year	5 years	10 years
Portfolio	30.50%	4.52%	-2.29%
Index
Morgan Stanley Capital International (MSCI) EAFE Index (GD) (reflects no deduction for fees, expenses or taxes)	32.46	4.02	1.58

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	LSV Asset Management	Josef Lakonishok	CEO, CIO, Partner and Portfolio Manager	November 2004
AST Investment Services, Inc.		Menno Vermeulen, CFA	Partner, Portfolio Manager and Senior Quantitative Analyst	November 2004
		Puneet Mansharamani, CFA	Partner, Portfolio Manager, and Senior Quantitative Analyst	November 2004
	Thornburg Investment Management, Inc.	William V. Fries, CFA	Co-Managing Director	November 2006
		Wendy Trevisani	Co-Managing Director	November 2006
		Lei Wang, CFA	Co-Managing Director	November 2006

SUMMARY: AST INVESTMENT GRADE BOND PORTFOLIO

The investment objective of the Portfolio is to seek to maximize total return, consistent with the preservation of capital and liquidity needs. As set forth above, total return is comprised of current income and capital appreciation.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.64%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.77%
Fee waiver or expense reimbursement+		-
Net annual Portfolio operating expenses		.77%

	1 Year	3 Years	5 Years	10 Years
AST Investment Grade Bond	$79	$246	$428	$954

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 7.42% Worst Quarter: 1st Quarter of 2009 .64%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (1/28/08)
Portfolio	11.30%	10.55
Index
Barclays Capital U.S. 5-10 Year Government/Credit Bond Index (reflects no deduction for fees, expenses or taxes)	6.50	4.74

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Prudential Investment Management, Inc.	Richard Piccirillo	Principal and Portfolio Manager	January 2008
AST Investment Services, Inc.		Malcolm Dalrymple	Principal and Portfolio Manager	January 2008

SUMMARY: AST JENNISON LARGE CAP GROWTH PORTFOLIO

The investment objective of the Portfolio is to seek long-term growth of capital.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.18%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.08%

	1 Year	3 Years	5 Years	10 Years
AST Jennison Large Cap Growth	$110	$343	$595	$1,317

Principal Investment Strategies. The Portfolio will invest at least 80% of its investable assets in the equity and equity-related securities of large-capitalization companies under normal market conditions. Large capitalization companies are defined as those companies with market capitalizations (measured at the time of purchase) within the market capitalization of the Russell 1000 ® Index. The Russell 1000 ® Index had an average market capitalization of approximately $71 billion as of February 28, 2010, and the largest company by market capitalization was approximately $317 billion as of that date. The size of the companies in the Russell 1000 ® Index will change with market conditions. In deciding which equity securities to buy for the Portfolio, the subadviser will use what is known as a growth investment style. This means that the subadviser focuses on common stocks that it believes could experience superior sales or earnings growth, or high returns on equity and assets. The companies in which the subadviser will invest generally tend to have a unique market niche, a strong new product profile or superior management.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

Past Perfomance No performance history is presented for this Portfolio, because it is new, and therefore does not yet have a full calendar year of performance.

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Jennison Associates LLC	Michael A. Del Balso	Managing Director	September 2009
AST Investment Services, Inc.		Mark D. Shattan, CFA	Managing Director	September 2009

SUMMARY: AST JENNISON LARGE-CAP VALUE PORTFOLIO

The investment objective of the Portfolio is to seek capital appreciation.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.75%
Distribution (12b-1) Fees		None
Other Expenses		.19%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.94%

	1 Year	3 Years	5 Years	10 Years
AST Jennison Large Cap Value	$96	$300	$520	$1,155

Principal Investment Strategies. The Portfolio will invest at least 80% of its investable assets in the equity and equity-related securities of large-capitalization companies under normal market conditions. Large capitalization companies are defined as those companies with market capitalizations (measured at the time of purchase) within the market capitalization of the Russell 1000 ® Index. The Russell 1000 ® Index had an average market capitalization of approximately $71 billion as of February 28, 2010, and the largest company by market capitalization was approximately $317 billion as of that date. The size of the companies in the Russell 1000 ® Index will change with market conditions. In deciding which equity securities to buy for the Portfolio, the subadviser will use what is known as a value investment style. That is, the subadviser will invest in common stocks of companies that it believes are being valued at a discount to their true worth, as defined by the value of their earnings, free cash flow, the value of their assets, their private market value, or some combination of these factors.

Past Perfomance No performance history is presented for this Portfolio, because it is new, and therefore does not yet have a full calendar year of performance.

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Jennison Associates LLC	David A. Kiefer, CFA	Managing Director	September 2009
AST Investment Services, Inc.		Avi Z. Berg	Managing Director	September 2009

SUMMARY: AST JPMORGAN INTERNATIONAL EQUITY PORTFOLIO

The investment objective of the Portfolio is to seek capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.18%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.08%

	1 Year	3 Years	5 Years	10 Years
AST JPMorgan International Equity	$110	$343	$595	$1,317

Principal Investment Strategies. The Portfolio will invest, under normal circumstances, at least 80% of the value of its assets in equity securities. The 80% investment requirement applies at the time the Portfolio invests its assets. Equity securities include common stocks, securities convertible into common stocks and securities having common stock characteristics or other derivative instruments whose value is based on common stocks, such as rights, warrants or options to purchase common stock, preferred stock, convertible preferred stock, convertible bonds, convertible debentures, convertible notes, depository receipts, futures contracts and swaps investments. The Portfolio seeks to meet its investment objective by normally investing primarily in a diversified portfolio of equity securities of companies located or operating in developed non-U.S. countries and emerging markets of the world. The equity securities will ordinarily be traded on a recognized foreign securities exchange or traded in a foreign over-the-counter market in the country where the issuer is principally based, but may also be traded in other countries including the United States.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 24.58% Worst Quarter: 4th Quarter of 2008 -20.65%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	35.88%	3.51%	-1.70%
Index
Morgan Stanley Capital International (MSCI) EAFE Index (GD) (reflects no deduction for fees, expenses or taxes)	32.46	4.02	1.58

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	J.P. Morgan Investment Management Inc.	James WT Fisher	Managing Director and Portfolio Manager	March 2004
AST Investment Services, Inc.

SUMMARY: AST JPMORGAN STRATEGIC OPPORTUNITIES PORTFOLIO

The investment objective of the Portfolio is To seek to maximize return compared to the benchmark through security selection and tactical asset allocation.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.00%
Distribution (12b-1) Fees		None
Other Expenses		.31%
-Dividend Expense on Short Sales	.17%
-Broker Fees and Expenses on Short Sales	-
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.31%

	1 Year	3 Years	5 Years	10 Years
AST JPMorgan Strategic Opportunity	$133	$415	$718	$1,579

Principal Investment Strategies. Within its equity allocations, the Portfolio primarily invests in the common stock and convertible securities of U.S. and foreign companies, including companies that are located or domiciled in, or that derive significant revenues or profits from, emerging market countries. Equity securities in which the Portfolio can invest may include common stocks, preferred stocks, convertible securities, depositary receipts, warrants and rights to buy common stocks, and master limited partnerships. The Portfolio may invest in securities denominated in U.S. dollars, major reserve currencies and currencies of other countries in which it can invest.

With its fixed income allocation, the Portfolio may invest in a wide range of debt securities of issuers from the U.S. and other markets, both developed and emerging. Investments may be issued or guaranteed by a wide variety of entities including governments and their agencies, corporations, financial institutions and supranational organizations that the Portfolio believes have the potential to provide a high total return over time. The Portfolio may invest in inflation-linked debt securities, including fixed and floating rate debt securities of varying maturities issued by the U.S. government, its agencies and instrumentalities, such as Treasury Inflation Protected Securities (TIPS). The Portfolio may invest in mortgage-related securities issued by governmental entities and private issuers. The Portfolio may invest assets in securities that are rated below investment grade (junk bonds) by Moody's Investor Services, Inc. (Moody's), Standard & Poor's Corporation (S&P), Fitch Ratings (Fitch) or the equivalent by another national rating organization, or securities that are unrated but are deemed by the Portfolio's subadviser to be of comparable quality. Securities rated below investment grade may include so called "distressed debt" (i.e., securities of issuers experiencing financial or operating difficulties or operating in troubled industries that present attractive risk-reward characteristics). The Portfolio also may invest in floating rate securities, whose interest rates adjust automatically whenever a specified interest rate changes, and in variable rate securities, whose interest rates are changed periodically.

The Portfolio may enter into short sales. In short selling transactions, the Portfolio sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, the Portfolio must borrow the security to make delivery to the buyer. The Portfolio is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement.

The Portfolio may invest in shares of exchange-traded funds (ETFs), REITs, affiliated money market funds and other investment companies. An ETF is a registered investment company that seeks to track the performance of a particular market index. These indexes include not only broad-based market indexes but more specific indexes as well, including those relating to particular sectors, markets, regions and industries. REITs are pooled investment vehicles that invest primarily in income-producing real estate or loans related to real estate. The Portfolio may invest in common shares or preferred shares of unaffiliated closed-end funds.

Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Portfolio can invest. The Portfolio may use futures contracts, options, swaps and other derivatives as tools in the management of the Portfolio assets. The Portfolio may use derivatives for hedging or investment purposes, including to obtain significant amounts of long or short exposure.

Up to approximately 5% of the Portfolio's net assets may be allocated to: (i) index futures, other futures contracts, and options thereon to provide liquid exposure to their respective equity and fixed-income benchmark indices and (ii) cash, money market equivalents, short-term debt instruments, money market funds, and short-term debt funds to satisfy all applicable margin requirements for the futures contracts and to provide additional portfolio liquidity to satisfy large-scale redemptions and any variation margin calls with respect to the futures contracts. The Portfolio may also invest in ETFs for additional exposure to relevant markets. It is also expected that 30% of the Portfolio's net assets will be invested in alternative asset classes and alternative investment strategies. All allocations and ranges are subject to change.

Note : The AST JPMorgan Strategic Opportunities Portfolio, formerly the AST UBS Dynamic Alpha Portfolio, added a new Subadviser and changed its investment objective, policies, and strategy effective March 15, 2009. The 1-year, 5-year and 10-year performance figures as well as the annual returns prior to March 15, 2009 for the Portfolio reflect investment performance, investment operations, investment policies, and investment strategies of the former AST UBS Dynamic Alpha Portfolio, and does not represent the actual or predicted performance of the AST JPMorgan Strategic Opportunities Portfolio.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 15.24% Worst Quarter: 4th Quarter of 2008 -14.96%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	22.02%	4.02%	1.45%
Index
BofA Merrill Lynch 1-5 Years US Treasury Index (reflects no deduction for fees, expenses or taxes)	.23	4.41	4.98

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	J.P. Morgan Investment Management Inc.	Michael Fredericks	Portfolio Manager	March 2010
AST Investment Services, Inc.

SUMMARY: AST LARGE-CAP VALUE PORTFOLIO

The investment objective of the Portfolio is to seek current income and long-term growth of income, as well as capital appreciation.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.75%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.88%

	1 Year	3 Years	5 Years	10 Years
AST Large-Cap Value	$90	$281	$488	$1,084

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its net assets in securities of large capitalization companies. Large capitalization companies are generally those that have market capitalizations, at the time of purchase, within the market capitalization range of the Russell 1000® Value Index. The 80% requirement applies at the time the Portfolio invests its assets. The Subadviser invests primarily in stock and other equity securities.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 16.24% Worst Quarter: 4th Quarter of 2008 -22.39%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	19.44%	-3.09%	-.67%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Russell 1000 Value Index (reflects no deduction for fees, expenses or taxes)	19.69	-.25	2.47

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Hotchkis and Wiley Capital Management, LLC	George Davis	Principal, Portfolio Manager and Chief Executive Officer	April 2004
AST Investment Services, Inc.		Judd Peters	Portfolio Manager	April 2004
		Scott McBride	Portfolio Manager	April 2004
		Patricia McKenna	Principal and Portfolio Manager	April 2004
		Sheldon Lieberman	Principal and Portfolio Manager	April 2004
	Eaton Vance Management	Michael R. Mach, CFA	Vice President	January 2009
		Matthew F. Beaudry	Vice President	December 2009
		John D. Crowley	Vice President	December 2009
		Stephen J. Kaszynski, CFA	Vice President	December 2009

SUMMARY: AST LORD ABBETT BOND-DEBENTURE PORTFOLIO

The investment objective of the Portfolio is to seek high current income and the opportunity for capital appreciation to produce a high total return.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.80%
Distribution (12b-1) Fees		None
Other Expenses		.16%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.96%

	1 Year	3 Years	5 Years	10 Years
AST Lord Abbett Bond-Debenture Portfolio	$98	$306	$531	$1,178

Principal Investment Strategies. To pursue its investment objective under normal market conditions, the Portfolio will invest at least 80% of its net assets in bonds, debentures and other fixed income securities. The Portfolio's investments primarily include the following types of securities and other financial instruments:

- U.S. investment grade fixed income securities;
- U.S. high yield securities ("non-investment grade" or "junk" bonds);
- foreign securities (including emerging market securities);
- convertible securities;
- mortgage-related and other asset-backed securities; and
- equity securities.

The duration of all the Portfolio's debt securities will normally be between three and seven years, with an average effective portfolio maturity of five to twelve years. The Portfolio will generally sell a security when the Portfolio believes the security seems less likely to benefit from the current market and economic environment, shows signs of deteriorating fundamentals, or when selling the security would help manage the Portfolio's duration.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provides some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performace from year to year and by showing how the Portfolio's average annual returns for 1 year, 5 years and since inception of the Portfolio compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes issues with similar investment objectives. The Portfolio's custom blended stock index consists of the Barclays Capital High Yield 2% Issuer Capped Index (60%), the Barclays Capital U.S. Aggregate Bond Index (20%) and the Bank of America All Convertible Index (20%). The manager determined the weight of each index comprising the blended indexes.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 12.39% Worst Quarter: 4th Quarter of 2008 -14.82%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	Since Inception (10/23/00)
Portfolio	34.60%	4.01%	5.46%
Index
BofA Merrill Lynch U.S. High Yield Master II Index (reflects no deduction for fees, expenses or taxes)	57.51	6.35	7.55
BofA Merrill Lynch U.S. High Yield Master II Constrained Index (reflects no deduction for fees, expenses or taxes)	58.10	6.40	7.72
Blended Index (reflects no deduction for fees, expenses or taxes)	44.96	5.60	6.67

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Lord, Abbett & Co. LLC	Christopher J. Towle	Partner and Director	November 2000
AST Investment Services, Inc.

SUMMARY: AST MARSICO CAPITAL GROWTH PORTFOLIO

The investment objective of the Portfolio is to seek capital growth. Income is not an investment objective and any income realized on the Portfolio's investments, therefore, will be incidental to the Portfolio's objective.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.12%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.02%

	1 Year	3 Years	5 Years	10 Years
AST Marsico Capital Growth	$104	$325	$563	$1,248

Principal Investment Strategies. The Portfolio invests primarily in the common stocks of large companies that are selected for their growth potential. Large companies are defined as those companies within the market capitalization range of the Russell 1000® Growth Index. The Portfolio will normally hold a core position of between 35 and 50 common stocks. The Portfolio may hold a limited number of additional common stocks at times when the portfolio manager is accumulating new positions, phasing out and replacing existing positions, or responding to exceptional market conditions.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 16.06% Worst Quarter: 4th Quarter of 2008 -25.02%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 Years
Portfolio	29.76%	-.75%	-1.83%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)	37.21	1.63	-3.99

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Marsico Capital Management	Thomas F. Marsico	Chief Executive Officer, and Chief Investment Officer	December 1997
AST Investment Services, Inc.		A. Douglas Rao	Co-portfolio manager	May 2010

SUMMARY: AST MFS GLOBAL EQUITY PORTFOLIO

The investment objective of the Portfolio is to seek capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.00%
Distribution (12b-1) Fees		None
Other Expenses		.32%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.32%

	1 Year	3 Years	5 Years	10 Years
AST MFS Global Equity	$134	$418	$723	$1,590

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of its net assets in equity securities. The 80% investment requirement applies at the time the Portfolio invests its assets. Equity securities include common stocks, preferred stocks, securities convertible into stocks, and depositary receipts for those securities. The Portfolio may invest its assets in securities of issuers in U.S. and foreign securities, including emerging market securities. The Portfolio may invest a relatively large percentage of its assets in a single country, a small number of countries, or a particular geographic region. While the Portfolio may invest its assets in companies of any size, it generally focuses on companies with large capitalizations. In selecting investments, the Portfolio is not constrained to any particular investment style. The Portfolio may invest its assets in the stocks of companies the subadviser believes to have above average earnings growth potential compared to other companies (growth companies), in the stocks of companies it believes are undervalued compared to their perceived worth (value companies), or in a combination of growth and value companies. The Portfolio uses a bottom-up approach to buying and selling its investments. Investments are selected primarily based on fundamental analysis of issuers. Quantitative models that systematically evaluate issuers may also be considered.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 18.43% Worst Quarter: 4th Quarter of 2008 -18.10%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	31.51%	4.89%	3.43%
Index
Morgan Stanley Capital International (MSCI) World Index (GD) (reflects no deduction for fees, expenses or taxes)	30.79	2.57	.23

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Massachusetts Financial Services Company	David R. Mannheim	Investment Officer	October 1999
AST Investment Services, Inc.		Roger Morley	Investment Officer	October 2009

SUMMARY: AST MFS GROWTH PORTFOLIO

The investment objective of the Portfolio is to seek long-term growth of capital and future, rather than current, income.

Annual Portfolio Operating Expenses (expenses that you pay each year as a pecentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.03%

	1 Year	3 Years	5 Years	10 Years
AST MFS Growth	$105	$328	$569	$1,259

Principal Investment Strategies. The Portfolio invests, under normal market conditions, at least 80% of its net assets in common stocks and related securities, such as preferred stocks, convertible securities and depositary receipts. The Portfolio focuses on investing its assets in the stocks of companies it believes to have above average earnings growth potential compared to other companies (growth companies). While the Portfolio may invest its assets in companies of any size, it generally focuses on companies with large capitalizations. The Portfolio uses a bottom-up approach to buying and selling its investments. Investments are selected primarily based on fundamental analysis of issuers. Quantitative models that systematically evaluate issuers may also be considered.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provides some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performace from year to year and by showing how the Portfolio's average annual returns for 1 year, 5 years and since inception of the Portfolio compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 4th Quarter of 2001 15.50% Worst Quarter: 4th Quarter of 2008 -23.45%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	Since Inception (10/28/99)
Portfolio	24.30%	1.22%	-2.71%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)	37.21	1.63	-3.99

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Massachusetts Financial Services Company	Stephen Pesek, CFA	Investment Officer	October 1999
AST Investment Services, Inc.

SUMMARY: AST MID-CAP VALUE PORTFOLIO

The investment objective of the Portfolio is to seek capital growth by investing primarily in mid-capitalization stocks that appear to be undervalued.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.95%
Distribution (12b-1) Fees		None
Other Expenses		.19%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.14%

	1 Year	3 Years	5 Years	10 Years
AST Mid-Cap Value	$116	$362	$628	$1,386

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its net assets in mid-capitalization companies. The 80% requirement applies at the time the Portfolio invests its assets. Mid-capitalization companies are generally those that have market capitalizations, at the time of purchase, within the range of companies included in the Russell Midcap® Value Index during the previous 12 months based on month-end data.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provides some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performace from year to year and by showing how the Portfolio's average annual returns for 1 year, 5 years and since inception of the Portfolio compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2th Quarter of 2009 23.70% Worst Quarter: 4th Quarter of 2008 -28.37%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	Since Inception (10/23/00)
Portfolio	38.89%	1.24%	2.93%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.84
Russell Midcap Value Index (reflects no deduction for fees, expenses or taxes)	34.21	1.98	7.07

Investment Manager	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	WEDGE Capital Management, LLP	Paul M. VeZolles, CFA	General Partner	November 2005
AST Investment Services, Inc.		John G. Norman	General Partner	November 2005
		Caldwell Calame, CFA	Executive Vice President	January 2009
	EARNEST Partners LLC	Paul Viera	Portfolio Manager	November 2005

SUMMARY: AST MONEY MARKET PORTFOLIO

The investment objective of the Portfolio is to seek high current income and maintain high levels of liquidity.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.50%
Distribution (12b-1) Fees		None
Other Expenses		.12%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.62%
Fee waiver or expense reimbursement*		(.01%)
Net annual Portfolio operating expenses		.61%

	1 Year	3 Years	5 Years	10 Years
AST Money Market	$62	$198	$345	$773

*The Investment Managers (Prudential Investments LLC and AST Investment Services, Inc.) have contractually agreed to waive .01% of their investment management fees for the Portfolio through May 31, 2011. This arrangement may not be terminated or modified prior to May 31, 2011, and may be discontinued or modified thereafter. The decision on whether to renew, modify or discontinue the arrangement after May 31, 2011 will be subject to review by the Investment Managers and the Fund's Board of Trustees.

Principal Investment Strategies. As a money market fund, the Portfolio invests in high-quality money market instruments and seeks to maintain a stable net asset value of $1.00 per share. In other words, the Portfolio attempts to operate so that shareholders do not lose any of the principal amount they invest in the Portfolio. Of course, there can be no assurance that the Portfolio will achieve its goal of a stable net asset value, and shares of the Portfolio are neither insured nor guaranteed by the U.S. government or any other entity. For instance, the issuer or guarantor of a portfolio security or the other party to a contract could default on its obligation, and this could cause the Portfolio's net asset value per share to fall below $1.00. In addition, the income earned by the Portfolio will fluctuate based on market conditions, interest rates and other factors. In a low interest rate environment, the yield for the Portfolio, after deduction of operating expenses, may be negative even though the yield before deducting such expenses is positive. A negative yield may also cause the Portfolio's net asset value per share to fall below $1.00. The Investment Managers may decide to reimburse certain of these expenses to the Portfolio in order to maintain a positive yield, however they are under no obligation to do so and may cease doing so at any time without prior notice.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2000 1.77% Worst Quarter: 4th Quarter of 2009 .01%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	.25%	2.98%	2.74%
Index
Lipper Variable Insurance Products (VIP) Money Market Funds Average* (reflects no deduction for fees, expenses or taxes)	.19	2.87	2.70

7-Day Yield (as of 12/31/09)
AST Money Market Portfolio	.05%
Average Money Market Fund	.02

SUMMARY: AST NEUBERGER BERMAN MID-CAP GROWTH PORTFOLIO

The investment objective of the Portfolio is to seek capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.15%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.05%

	1 Year	3 Years	5 Years	10 Years
AST Neuberger Berman Mid-Cap Growth	$107	$334	$579	$1,283

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in common stocks of mid-capitalization companies. The 80% investment requirement applies at the time the Portfolio invests its assets. For purposes of the Portfolio, a mid-capitalization company is defined as a company whose market capitalization is within the range of market capitalizations of companies in the Russell Midcap ® Index. As of February 28, 2010, the weighted average market capitalization of the companies in the Russell Midcap ® Index was $6.378 billion and the median market capitalization was $3.441 billion. The Portfolio seeks to reduce risk by diversifying among many companies, industries and sectors. The subadviser employs a disciplined investment strategy when selecting growth stocks. Using fundamental research and quantitative analysis, the subadviser looks for fast-growing companies with above average sales and competitive returns on equity relative to their peers. In doing so, the subadviser analyzes such factors as: financial condition (such as debt to equity ratio); market share and competitive leadership of the company's products; earnings growth relative to competitors; and market valuation in comparison to a stock's own historical norms and the stocks of other mid-cap companies.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 1st Quarter of 2000 24.35% Worst Quarter: 3rd Quarter of 2001 -29.71%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	29.79%	3.13%	-1.85%
Index
Standard & Poor's MidCap 400 Index (reflects no deduction for fees, expenses or taxes)	37.38	3.27	6.36
Russell Midcap Growth Index (reflects no deduction for fees, expenses or taxes)	46.29	2.40	-.52

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Neuberger Berman Management LLC	Kenneth J. Turek	Managing Director	January 2003
AST Investment Services, Inc.

SUMMARY: AST NEUBERGER BERMAN/LSV MID-CAP VALUE PORTFOLIO

The investment objective of the Portfolio is to seek capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.15%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.05%

	1 Year	3 Years	5 Years	10 Years
AST Neuberger Berman / LSV Mid-Cap Value	$107	$334	$579	$1,283

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in medium capitalization companies. The 80% investment requirement applies at the time the Portfolio invests its assets. Generally, companies with equity market capitalizations that fall within the market capitalization range of the Russell Midcap ® Value Index at the time of investment are considered mid-cap companies. The Portfolio seeks to reduce risk by diversifying among many companies and industries.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 24.49% Worst Quarter: 4th Quarter of 2008 -27.32%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	40.65%	.78%	6.77%
Index
Standard & Poor's MidCap 400 Index (reflects no deduction for fees, expenses or taxes)	37.38	3.27	6.36
Russell Midcap Value Index (reflects no deduction for fees, expenses or taxes)	34.21	1.98	7.58

Investment Managers	Subadvisers	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Neuberger Berman Management LLC	S. Basu Mullick	Vice President	January 2005
AST Investment Services, Inc.	LSV Asset Management	Josef Lakonishok	CEO, CIO, Partner and Portfolio Manager	July 2008
		Menno Vermeulen, CFA	Partner, Portfolio Manager and Senior Quantitative Analyst	July 2008
		Puneet Mansharamani, CFA	Partner, Portfolio Manager, and Senior Quantitative Analyst	July 2008

SUMMARY: AST NEUBERGER BERMAN SMALL-CAP GROWTH PORTFOLIO

The investment objective of the Portfolio is to seek maximum growth of investors' capital from a portfolio primarily of growth stocks of smaller companies.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.95%
Distribution (12b-1) Fees		None
Other Expenses		.25%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.20%

	1 Year	3 Years	5 Years	10 Years
AST Neuberger Berman Small-Cap Growth	$122	$381	$660	$1,455

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in small capitalization companies. The 80% investment requirement applies at the time the Portfolio invests its assets.The Portfolio pursues its investment objective, under normal market conditions, by investing primarily in the equity securities of small sized companies with a total market capitalization within the market capitalization range of the Russell 2000® index at time of purchase. Equity securities include common stocks and securities convertible into or exchangeable for common stocks, including warrants and rights.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2003 23.08% Worst Quarter: 3rd Quarter of 2001 -28.92%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	22.57%	-1.99%	-4.86%
Index
Russell 2000 Index (reflects no deduction for fees, expenses or taxes)	27.17	.51	3.51
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes)	34.47	.87	-1.37

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Neuberger Berman Management LLC	David Burshtan	Managing Director	May 2007
AST Investment Services, Inc.

SUMMARY: AST PARAMETRIC EMERGING MARKETS EQUITY PORTFOLIO

The investment objective of the Portfolio is long-term capital appreciation.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.10%
Distribution (12b-1) Fees		None
Other Expenses		.36%
Acquired Fund Fees & Expenses		.01%
Total Annual Portfolio Operating Expenses		1.47%

	1 Year	3 Years	5 Years	10 Years
AST Parametric Emerging Markets Equity	$150	$465	$803	$1,757

Principal Investment Strategies. Under normal market conditions, the Portfolio invests at least 80% of its net assets in equity securities of issuers: (i) located in emerging market countries or (ii) included (or considered for inclusion) as emerging market issuers in one or more broad-based market indices. The Portfolio will provide 60 day's prior written notice to shareholders or a change in this 80% policy. A company will be considered to be located in an emerging market country if it is domiciled in, or derives more than 50% of its revenues or profits from, emerging market countries. Emerging market countries are generally countries not considered to be developed market countries, and therefore not included in the Morgan Stanley Capital International (MSCI) World Index. Emerging market countries include countries in Asia, Latin America, the Middle East, Southern Europe, Eastern Europe, Africa and the region comprising the former Soviet Union. The Portfolio may invest without limit in foreign securities. The Portfolio may engage in derivative transactions as a substitute for the purchase or sale of securities or currencies or to attempt to mitigate the adverse effects of foreign currency fluctuations. Such transactions may include foreign currency exchange contracts, options and equity-linked securities (such as participation notes, equity swaps and zero strike calls and warrants).

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 37.33% Worst Quarter: 1st Quarter of 2009 -5.08%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception
Portfolio	66.51%	-11.26%
Index
MSCI Emerging Markets Index (GD) (reflects no deduction for fees, expenses or taxes)	79.02	-8.00

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Parametric Portfolio Associates LLC ("Parametric")	Thomas Seto	Vice President and Director of Portfolio Management of Parametric	April 2008
AST Investment Services, Inc.		David Stein	Managing Director and Chief Investment Officer of Parametric	April 2008

SUMMARY: AST PIMCO LIMITED MATURITY BOND PORTFOLIO

The investment objective of the Portfolio is to seek to maximize total return, consistent with preservation of capital and prudent investment management.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.65%
Distribution (12b-1) Fees		None
Other Expenses		.14%
-Interest Expense on Short Sales	-
-Broker Fees and Expenses on Short Sales	-
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.79%

	1 Year	3 Years	5 Years	10 Years
AST PIMCO Limited Maturity Bond	$81	$252	$439	$978

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its net assets in fixed income investments which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The 80% investment requirement applies at the time the Portfolio invests its net assets. Portfolio holdings will be concentrated in areas of the bond market (based on quality, sector, interest rate or maturity) that the subadviser believes to be relatively undervalued. In selecting fixed income securities, the subadviser uses economic forecasting, interest rate anticipation, credit and call risk analysis, foreign currency exchange rate forecasting, and other securities selection techniques. The proportion of the Portfolio's assets committed to investment in securities with particular characteristics (such as maturity, type and coupon rate) will vary based on the Subadviser's outlook for the U.S. and foreign economies, the financial markets, and other factors. The management of duration (a measure of a fixed income security's expected life that incorporates its yield, coupon interest payments, final maturity and call features into one measure) is one of the fundamental tools used by the subadviser.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 3.54% Worst Quarter: 4th Quarter of 2008 -1.36%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	10.23%	4.66%	5.11%
Index
BofA Merrill Lynch 1-3 Year Treasury Index (reflects no deduction for fees, expenses or taxes)	.78	4.04	4.48

Investment Manager	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Pacific Investment Management Company LLC	Paul A. McCulley	Managing Director	May 1995
AST Investment Services, Inc.

SUMMARY: AST PIMCO TOTAL RETURN BOND PORTFOLIO

The investment objective of the Portfolio is to seek to maximize total return, consistent with preservation of capital and prudent investment management.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.65%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.78%

	1 Year	3 Years	5 Years	10 Years
AST PIMCO Total Return Bond	$80	$249	$433	$966

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its net assets in fixed income investments which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The 80% investment requirement applies at the time the Portfolio invests its net assets. Portfolio holdings will be concentrated in areas of the bond market (based on quality, sector, interest rate or maturity) that the subadviser believes to be relatively undervalued. In selecting fixed income securities, the Subadviser uses economic forecasting, interest rate anticipation, credit and call risk analysis, foreign currency exchange rate forecasting, and other securities selection techniques. The proportion of the Portfolio's assets committed to investment in securities with particular characteristics (such as maturity, type and coupon rate) will vary based on the subadviser's outlook for the U.S. and foreign economies, the financial markets, and other factors. The management of duration (a measure of a fixed income security's expected life that incorporates its yield, coupon interest payments, final maturity and call features into one measure) is one of the fundamental tools used by the subadviser.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 8.30% Worst Quarter: 3rd Quarter of 2008 -3.58%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	16.53%	5.58%	6.76%
Index
Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)	5.93	4.97	6.33

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	Pacific Investment Management Company LLC	William H. Gross, CFA	Managing Director, Portfolio Manager, and Chief Investment Officer	December 1993
AST Investment Services, Inc.

SUMMARY: AST PRESERVATION ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to obtain the highest potential total return consistent with its specified level of risk tolerance.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.15%
Distribution (12b-1) Fees		None
Other Expenses		.02%
Acquired Fund Fees & Expenses		.85%
Total Annual Portfolio Operating Expenses		1.02%

	1 Year	3 Years	5 Years	10 Years
AST Preservation Asset Allocation	$104	$325	$563	$1,248

The asset allocation strategy is determined by Prudential Investments LLC (PI) and Quantitative Management Associates LLC (QMA). As a general matter, QMA begins by constructing a neutral allocation for the Portfolio. Each neutral allocation initially divides the assets for the Portfolio across three broad-based securities benchmark indexes. These three benchmark indexes are the Russell 3000 Index, the MSCI EAFE Index, and the Barclays Capital U.S. Aggregate Bond Index. Generally, the neutral allocation will emphasize investments in the debt/money market asset class. The selection of specific combinations of Underlying Portfolios for the Portfolio generally will be determined by PI. PI will employ various quantitative and qualitative research methods to establish weighted combinations of Underlying Portfolios that are consistent with the neutral allocation for the Portfolio. QMA will then perform its own forward-looking assessment of macroeconomic, market, financial, security valuation, and other factors. As a result of this assessment, QMA will further adjust the neutral allocation and the preliminary Underlying Portfolio weights for the Portfolio based upon its views on certain factors.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a custom blended stock index which includes the stocks of companies with similar investment objectives. The Portfolio's primary custom blended stock index consists of the Russell 3000 Index (28%), MSCI EAFE Index (GD) (7%), and Barclays Capital Aggregate Bond Index (65%). The Portfolio's secondary custom blended stock index consists of the Standard & Poor's 500 Index (35%) and the Barclays Capital Aggregate Bond Index (65%). The manager determined the weight of each index comprising the blended indexes.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 10.75% Worst Quarter: 4th Quarter of 2008 -9.00%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (12/5/05)
Portfolio	20.04%	3.27%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	-.65
Blended Index (reflects no deduction for fees, expenses or taxes)	14.14	4.15
Secondary Blended Index (reflects no deduction for fees, expenses or taxes)	13.23	3.80

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC		Brian Aherns	Senior VP, Strategic Investment Reserach Group	April 2005
AST Investment Services, Inc.	Quantitative Management Associates LLC (QMA)	Marcus Perl	Portfolio Manager, VP of QMA	July 2006
		Edward L. Campbell	Portfolio Manager, VP of QMA	July 2006

SUMMARY: AST QMA US EQUITY ALPHA PORTFOLIO

The investment objective of the Portfolio is long-term capital appreciation.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.00%
Distribution (12b-1) Fees		None
Other Expenses		.80%
-Dividend Expense on Short Sales	.30%
-Broker Fees and Expenses on Short Sales	.30%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.80%

	1 Year	3 Years	5 Years	10 Years
AST QMA US Equity Alpha	$183	$566	$975	$2,116

Principal Investment Strategies. The Portfolio uses a long/short investment strategy in seeking to achieve its investment objective. This means the Portfolio shorts a portion of the Portfolio and use the proceeds of the shorts, or other borrowings, to purchase additional stocks long. The Portfolio will normally invest (take long positions) at least 80% of its net assets plus borrowings, if any, for investment purposes in equity and equity-related securities of U.S. issuers. For purposes of this non-fundamental investment policy, U.S. issuers are issuers whose primary listing is on a securities exchange or market inside the United States. The Portfolio will provide 60 days' prior written notice to shareholders of a change in its non-fundamental policy of investing at least 80% of its net assets plus borrowings for investment purposes in equity and equity-related securities of U.S. issuers.

In general, for its long positions, the Portfolio may overweight issuers that it believes may outperform the Russell 1000® Index and may underweight those issuers it believes may underperform the Russell 1000® Index, while managing the Portfolio's active risk. The Portfolio will generally sell securities short that it believes may underperform the Russell 1000® Index or may not perform as well as comparable securities. The Portfolio may also sell securities short to manage the Portfolio's active risk.

In rising markets, the Portfolio expects that its long positions generally will appreciate more rapidly than the short positions, and in declining markets, that its short positions generally will decline faster than the long positions. Short sales allow the Portfolio to seek to earn returns on securities that the Portfolio believes may underperform, and also allows the Portfolio to maintain additional long positions. The Portfolio will target approximately 100% net market exposure, similar to a "long-only" strategy, to U.S. equities.

Note : Prior to May 1, 2008, the Portfolio was known as the AST AllianceBernstein Managed Index 500 Portfolio. Effective May 1, 2008, the Portfolio changed its investment strategy, investment objective, investment policies, and expense structure. The performance history furnished below prior to May 1, 2008 reflects the investment performance, investment operations, investment policies, investment strategies, and expense structure of the former AST AllianceBernstein Managed Index 500 Portfolio, and does not represent the actual or predicted performance of the AST QMA US Equity Alpha Portfolio.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 18.22% Worst Quarter: 4th Quarter of 2008 -21.92%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 Years
Portfolio	21.82%	-2.34%	-2.08%
Index
Russell 1000® Index (reflects no deduction for fees, expenses or taxes)	28.43	.79	-.49

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Quantitative Management Associates LLC	Margaret S. Stumpp, PhD	Chief Investment Officer	May 2008
AST Investment Services, Inc.		Ted Lockwood	Managing Director	May 2008
		Devang Gambhirwala	Principal and Portfolio Manager	May 2008

SUMMARY: AST SCHRODERS MULTI-ASSET WORLD STRATEGIES PORTFOLIO

The investment objective of the Portfolio is to seek long-term capital appreciation. This investment objective is a non-fundamental investment policy of the Portfolio and may be changed by the Board without shareholder approval.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		1.10%
Distribution (12b-1) Fees		None
Other Expenses		.25%
Acquired Fund Fees & Expenses		.20%
Total Annual Portfolio Operating Expenses		1.55%

	1 Year	3 Years	5 Years	10 Years
AST Schroders Multi-Asset World Strategies	$158	$490	$845	$1,845

Principal Investment Strategies . The Portfolio seeks long-term capital appreciation through a flexible global asset allocation approach. This asset allocation approach entails investing in traditional asset classes, such as equity and fixed-income investments, and alternative asset classes, such as investments in real estate, commodities, currencies, private equity, and absolute return strategies. Absolute return measures the return that an asset achieves over a certain period of time. Absolute return strategies differ from relative return strategies because they are concerned with the rate of return of a particular asset and do not compare returns with other measures or benchmarks as with relative return strategies. The Portfolio's Subadvisers are Schroder Investment Management North America Inc. (Schroders) and Schroder Investment Management North America Limited (SIMNA Ltd.). The Subadvisers will seek exposure to the relevant traditional and alternative asset classes by investing the Portfolio's assets in varying combinations of (i) securities, including, without limitation, common stocks, preferred stocks, and bonds; (ii) other pooled investment vehicles, including, without limitation, open-end or closed-end investment companies, exchange-traded funds, unit investment trusts, domestic or foreign private investment pools (including investment companies not registered under the 1940 Act, such as "hedge funds") (collectively referred to herein as Underlying Funds); and (iii) certain structured notes and financial and derivative instruments.

Fund of funds risk . In addition to the risks associated with the indirect investment in the Underlying Portfolios, the Portfolio is subject to the following additional risks: to the extent the Portfolio concentrates its assets among Underlying Portfolios that invest principally in one or several asset classes, the Portfolio may from time to time underperform mutual funds exposed primarily to other asset classes; the ability of the Portfolio to achieve its investment objective depends on the ability of the selected Underlying Portfolios to achieve their investment objectives; the performance of the Portfolio may be affected by large purchases and redemptions of Underlying Portfolio shares; and there is a potential conflict of interest between the Portfolio and its adviser, PI and the Subadviser, which could impact the Portfolio.

Note : Prior to July 21, 2008 the Portfolio was known as the AST American Century Strategic Allocation Porfolio. Effective July 21, 2008, the Portfolio added new Subadvisers and changed its investment objective, policies, strategy, and expense structure. The performance history furnished below prior to July 21, 2008 reflects the investment performance, investment operations, investment policies and investment strategies of the former AST American Century Strategic Allocation Porfolio, and does not represent the acutal or predicted performance of the current Portfolio.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 17.90% Worst Quarter: 4th Quarter of 2008 -15.81%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	27.41%	2.14%	1.94%
Index
MSCI World Index (GD) (reflects no deduction for fees, expenses or taxes)	30.79	2.57	.23
Blended Index (reflects no deduction for fees, expenses or taxes)	21.74	3.34	1.54

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Schroder Investment Management North America Inc. Schroder Investment Management North America Limited.	Johanna Kyrklund, CFA	Portfolio Manager	December 2008
AST Investment Services, Inc.		Michael Spinks, CFA	Portfolio Manager	December 2008

SUMMARY: AST SMALL CAP GROWTH PORTFOLIO

The investment objective of the Portfolio is long-term capital growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.17%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.07%

	1 Year	3 Years	5 Years	10 Years
AST Small-Cap Growth	$109	$340	$590	$1,306

Principal Investment Strategies. The Portfolio will have a non-fundamental policy to invest, under normal circumstances, at least 80% of the value of its assets in small capitalization companies. The 80% investment requirement applies at the time the Portfolio invests its assets. The Portfolio normally pursues its objective by investing primarily in the common stocks of small-capitalization companies. For purposes of the Portfolio, small-capitalization companies are generally those that have market capitalizations no larger than the largest capitalized company included in the Russell 2000 ® Growth Index at the time of the Portfolio's investment. The size of the companies in the Russell 2000 ® Growth Index and those on which the Subadviser intends to focus the Portfolio's investments will change with market conditions.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2001 25.61% Worst Quarter: 4th Quarter of 2000 -31.21%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	33.91%	1.28%	-7.51%
Index
Russell 2000 Index (reflects no deduction for fees, expenses or taxes)	27.17	.51	3.51
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes)	34.47	.87	-1.37

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Eagle Asset Management, Inc.	Bert L. Boksen, CFA	Senior Vice President and Managing Director	April 2005
AST Investment Services, Inc.		Eric Mintz, CFA	Assistant Portfolio Manager	April 2005

SUMMARY: AST SMALL CAP VALUE PORTFOLIO

The investment objective of the Portfolio is to provide long-term capital growth by investing primarily in small-capitalization stocks that appear to be undervalued.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.16%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.06%

	1 Year	3 Years	5 Years	10 Years
AST Small-Cap Value	$108	$337	$585	$1,294

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in small capitalization companies. Small capitalization companies are generally defined as stocks of companies with market capitalizations that are within the market capitalization range of the Russell 2000 ® Value Index. Securities of companies whose market capitalizations no longer meet the definition of small capitalization companies after purchase by the Portfolio will still be considered to be small capitalization companies for purposes of the Portfolio's policy of investing, under normal circumstances, at least 80% of the value of its assets in small capitalization companies.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 21.99% Worst Quarter: 4th Quarter of 2008 -23.68%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	27.00%	1.53%	7.26%
Index
Russell 2000 Index (reflects no deduction for fees, expenses or taxes)	27.17	.51	3.51
Russell 2000 Value Index (reflects no deduction for fees, expenses or taxes)	20.58	-.01	8.27

Investment Managers	Subadvisers	Portfolio Managers	Title	Service Date
Prudential Investments LLC	J.P. Morgan Investment Management, Inc.	Christopher T. Blum	Managing Director	December 2004
AST Investment Services, Inc.		Dennis S. Ruhl	Vice President	December 2004
	Lee Munder Capital Group, LLC (LMCG)	R. Todd Vingers, CFA	Portfolio Manager	December 2004
	ClearBridge Advisors, LLC	Peter Hable	Managing Director	December 2005
		Mark Bourguignon	Director	February 2009
		Mark Feasey, CFA,	Director	February 2009
		Marina Chinn, CFA	Director	February 2009
		Michael Kang	Director	February 2009

SUMMARY: AST T. ROWE PRICE ASSET ALLOCATION PORTFOLIO

The investment objective of the Portfolio is to seek a high level of total return by investing primarily in a diversified portfolio of equity and fixed-income securities.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.85%
Distribution (12b-1) Fees		None
Other Expenses		.16%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.01%

	1 Year	3 Years	5 Years	10 Years
AST T. Rowe Price Asset Allocation	$103	$322	$558	$1,236

Principal Investment Strategies. The Portfolio invests, under normal circumstances, approximately 60% of its total assets in equity securities and 40% in fixed income securities. This mix may vary over shorter time periods; the equity portion may range between 50-70% and the fixed income portion between 30-50%. The subadviser concentrates common stock investments in larger, more established companies, but the Portfolio may include small and medium-sized companies with good growth prospects. Up to 35% of the equity portion may be invested in foreign (non-U.S. dollar denominated) equity securities. The fixed income portion of the Portfolio will be allocated among investment grade securities (50-100% of the fixed income portion); high yield or "junk" bonds (up to 30% of the fixed-income portion); foreign (non-U.S. dollar denominated) high quality debt securities and emerging market securities (up to 30% of the fixed-income portion); and cash reserves (up to 40% of the fixed-income portion). Cash reserves may consist of U.S.-dollar and non U.S.-dollar currencies.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 13.54% Worst Quarter: 4th Quarter of 2008 -14.26%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	24.14%	2.85%	3.09%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Blended Index (reflects no deduction for fees, expenses or taxes)	17.74	2.43	2.27

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	T. Rowe Price Associates, Inc.	Edmund M. Notzon, III, Ph.D.	Vice President and Portfolio Manager	January 1994
AST Investment Services, Inc.		Ken D. Uematsu, CFA	Vice President and Portfolio Manager	January 2009
		Raymond A. Mills, Ph.D., CFA	Vice President and Portfolio Manager	January 2000
		Daniel O. Shackelford, CFA	Vice President and Portfolio Manager	March 1999
		Anna Dopkin, CFA	Vice President and Portfolio Manager	April 2007
		Paul A. Karpers, CFA	Vice President and Portfolio Manager	August 2007
		Charles M. Shriver, CFA	Vice President and Portfolio Manager	May 2010

SUMMARY: AST T. ROWE PRICE GLOBAL BOND PORTFOLIO

The investment objective of the Portfolio is to provide high current income and capital growth by investing in high-quality, foreign and U.S. dollar-denominated bonds.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.80%
Distribution (12b-1) Fees		None
Other Expenses		.19%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.99%

	1 Year	3 Years	5 Years	10 Years
AST T. Rowe Price Global Bond	$101	$315	$547	$1,213

Prinicpal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in fixed income securities. The 80% investment requirement applies at the time the Portfolio invests its assets. To achieve its objectives, the Portfolio intends to invest primarily in all types of bonds including those issued or guaranteed by the U.S. or foreign governments or their agencies and by foreign authorities, provinces and municipalities as well as investment grade corporate bonds and mortgage-related and asset-backed securities and high yield bonds of U.S. and foreign issuers. The Portfolio may also invest in convertible securities and corporate commercial paper; inflation-indexed bonds issued by both governments and corporations; structured notes, including hybrid or "indexed" securities, event-linked bonds and bank debt and loan participations; delayed portfolio loans and revolving credit securities; bank certificates of deposit, fixed time deposits and bankers' acceptances; repurchase agreements and reverse repurchase agreements; debt securities issued by federal, state or local governments and their agencies and government-sponsored enterprises; obligations of foreign governments or their subdivisions, agencies and government-sponsored enterprises; and obligations of international agencies or supranational entities.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 7.87% Worst Quarter: 3rd Quarter of 2008 -5.27%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	12.12%	4.01%	5.78%
Index
Barclays Capital Global Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)	6.93	4.56	6.49

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	T. Rowe Price International, Inc.	Ian Kelson	Portfolio Manager	November 2000
AST Investment Services, Inc.		Christopher Rothery	Portfolio Manager	May 1996
		Daniel O. Shackelford	Portfolio Manager	March 1999
		Brian Brennan	Portfolio Manager	October 2000
		Michael Conelius	Portfolio Manager	May 1996

SUMMARY: AST T. ROWE PRICE LARGE CAP GROWTH PORTFOLIO

The investment objective of the Portfolio is to seek long-term growth of capital by investing predominantly in the equity securities of a limited number of large, carefully selected, high-quality U.S. companies that are judged likely to achieve superior earnings growth.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.03%

	1 Year	3 Years	5 Years	10 Years
AST T. Rowe Price Large-Cap Growth	$105	$328	$569	$1,259

Principal Investment Strategies. The Portfolio takes a growth approach to investing and will normally invest at least 80% of its net assets in the common stocks of large companies. A large company is defined as one whose market capitalization is larger than the median market cap of companies in the Russell 1000 ® Growth Index. The Portfolio will not automatically sell or cease to purchase stock of a company it already owns just because the company's market capitalization falls below this level. The subadviser generally looks for companies with an above-average rate of earnings growth and cash flow growth and a lucrative niche in the economy that gives them the ability to sustain earnings momentum even during times of slow economic growth.

Growth style risk . There is a risk that the growth investment style may be out of favor for a period of time. Investors often expect growth companies to increase their earnings at a certain rate.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 1st Quarter of 2000 20.14% Worst Quarter: 4th Quarter of 2008 -22.64%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	53.37%	3.95%	-2.13%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)	37.21	1.63	-3.99

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	T. Rowe Price Associates, Inc.	Robert Sharps	Vice President and Portfolio Manager	December 2005
AST Investment Services, Inc.

SUMMARY: AST T. ROWE PRICE NATURAL RESOURCES PORTFOLIO

The investment objective of the Portfolio is to seek long-term capital growth primarily through the investment in common stocks of companies that own or develop natural resources (such as energy products, precious metals, and forest products) and other basic commodities.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.90%
Distribution (12b-1) Fees		None
Other Expenses		.15%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		1.05%

	1 Year	3 Years	5 Years	10 Years
AST T. Rowe Price Natural Resources	$107	$334	$579	$1,283

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in the securities of natural resource companies. The 80% investment requirement applies at the time the Portfolio invests its assets. The Portfolio invests primarily in the common stocks of natural resource companies whose earnings and tangible assets could benefit from accelerating inflation. The Portfolio also may invest in non-resource companies with the potential for growth. The relative percentages invested in natural resource and non-resource companies can vary depending on economic and monetary conditions and the subadviser's outlook for inflation. When selecting stocks, the subadviser looks for companies that have the ability to expand production, to maintain superior exploration programs and production facilities, and the potential to accumulate new resources. Natural resource companies in which the Portfolio invests generally own, develop, refine, service or transport resources, including energy sources, precious metals, nonferrous metals, forest products, real estate, diversified resources and other basic commodities that can be produced and marketed profitably when both labor costs and prices are rising.

Industry/sector risk . A Portfolio that invests in a single market sector or industry can accumulate larger positions in a single issuer or an industry sector. As a result, the Portfolio's performance may be tied more directly to the success or failure of a smaller group of portfolio holdings.

Annual Total Returns
		Best Quarter: 2nd Quarter of 2009 23.08% Worst Quarter: 3rd Quarter of 2008 -34.03%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	10 years
Portfolio	49.35%	9.83%	12.94%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.95
Lipper Variable Underlying Funds Natural Resources Fund Index (reflects no deduction for fees, expenses or taxes)	53.38	11.84	N/A

Investment Managers	Subadviser	Portfolio Manager	Title	Service Date
Prudential Investments LLC	T. Rowe Price Associates, Inc.	Charles M. Ober	Vice President and Portfolio Manager	March 1997
AST Investment Services, Inc.		Timothy E. Parker	Vice President and Portfolio Manager	June 2010

SUMMARY: AST VALUE PORTFOLIO

The Investment Objective of the Portfolio is to seek maximum growth of capital by investing primarily in the value stocks of larger companies.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.85%
Distribution (12b-1) Fees		None
Other Expenses		.13%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.98%

	1 Year	3 Years	5 Years	10 Years
AST Value	$100	$312	$542	$1,201

Principal Investment Strategies . The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in securities issued by large capitalization companies. The 80% investment requirement applies at the time the Portfolio invests its assets. Large capitalization companies are those included in the Russell 1000® Value Index. The Portfolio invests primarily in the equity securities of large capitalization companies. Equity securities include common stocks and securities convertible into or exchangeable for common stocks, including warrants and rights. The subadviser employs an investment strategy that seeks to maintain a portfolio of equity securities which approximates the market risk of those stocks included in the Russell 1000® Value Index, but which outperforms the Russell 1000® Value Index through active stock selection. The size of the companies in the Russell 1000® Value Index will change with market conditions. The targeted tracking error of this Portfolio is 4% with a normal deviation of + 1%. It is possible that the deviation may be higher. For purposes of this Portfolio, the strategy of attempting to correlate a stock portfolio's market risk with that of a particular index, in this case the Russell 1000® Value Index, while improving upon the return of the same index through active stock selection, is called a "managed alpha" strategy.

Past Performance . A number of factors, including risk, can affect how the Portfolio performs. The bar chart and table provides some indication of the risks of investing in the Portfolio by showing changes in the Portfolio's performace from year to year and by showing how the Portfolio's average annual returns for 1 year, 5 years and since inception of the Portfolio compare with those of a broad measure of market performance. Past performance does not mean that the Portfolio will achieve similar results in the future.

The table also demonstrates how the Portfolio's average annual returns compare to the returns of a secondary index which includes the stocks of companies with similar investment objectives.

Annual Total Returns
		Best Quarter: 3rd Quarter 2009 18.37% Worst Quarter: 4th Quarter 2008 -20.48%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	5 years	Since Inception (10/23/00)
Portfolio	18.26%	-.03%	1.79%
Index
Standard & Poor's 500 Index (reflects no deduction for fees, expenses or taxes)	26.47	.42	-.84
Russell 1000 Value Index (reflects no deduction for fees, expenses or taxes)	19.69	-.25	2.07

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Deutsche Investment Management Americas Inc.	Robert Wang	Managing Director	April 2005
AST Investment Services, Inc.		James Francis, CFA	Portfolio Manager	July 2006

SUMMARY: AST WESTERN ASSET CORE PLUS BOND PORTFOLIO

The investment objective of the Portfolio is to maximize total return, consistent with prudent investment management and liquidity needs, by investing to obtain the average duration specified for the Western Asset Core Plus Bond Portfolio.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees		.70%
Distribution (12b-1) Fees		None
Other Expenses		.14%
Acquired Fund Fees & Expenses		-
Total Annual Portfolio Operating Expenses		.84%

	1 Year	3 Years	5 Years	10 Years
AST Western Asset Core Plus Bond	$86	$268	$466	$1,037

Principal Investment Strategies. The Portfolio invests, under normal circumstances, at least 80% of the value of its assets in debt and fixed-income securities. The 80% investment requirement applies at the time the Portfolio invests its assets.

The target average modified duration of the Portfolio is expected to range within 30% of the duration of the domestic bond market as a whole (normally three to six years, although this may vary). Therefore, the range within which the average modified duration of the Portfolio is expected to fluctuate is generally 2.5 to 7 years. The Portfolio's average modified duration may fall outside of its expected average modified duration range due to market movements. If this happens, the Portfolio's subadvisers will take action to bring the Portfolio's average modified duration back within its expected average modified duration range within a reasonable period of time. Duration refers to the range within which the average modified duration of a Portfolio is expected to fluctuate. Modified duration measures the expected sensitivity of market price to changes in interest rates, taking into account the effects of structural complexities (for example, some bonds can be prepaid by the issuer).

Annual Total Returns
		Best Quarter: 3rd Quarter of 2009 5.55% Worst Quarter: 3rd Quarter of 2008 -3.74%

Average Annual Total Returns (For the periods ended December 31, 2009)
	1 year	Since Inception (11/19/07)
Portfolio	11.63%	2.71%
Index
Barclays Capital U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)	5.93	5.50

Investment Managers	Subadviser	Portfolio Managers	Title	Service Date
Prudential Investments LLC	Western Asset Management Company Western Asset Management Company Limited	Stephen A. Walsh	Chief Investment Officer	November 2007
AST Investment Services, Inc.		S. Kenneth Leech	CIO Emeritus	November 2007
		Edward A. Moody	Portfolio Manager	November 2007
		Carl L. Eichstaedt	Portfolio Manager	November 2007
		Mark S. Lindbloom	Portfolio Manager	November 2007