We have shown previously that stimulus-induced modulation of noise correlation in rat somatosensory cortex conveys additional information about the delivery of tactile stimulation. Here we investigated whether noise correlation is also modulated by an external sensory stimulus in rat prefrontal cortex and, if so, whether such modulation conveys additional information on stimulus delivery. Noise correlation was significantly reduced after the onset of a conditional stimulus (auditory tone) that signaled an electric foot shock in the prefrontal cortex. However, noise correlation contributed little to the transmission of information on stimulus delivery. These results indicate that a meaningful sensory stimulus reduces noise correlation in rat prefrontal cortex, but such modulation does not play a significant role in conveying information on stimulus delivery.