September 29, 1998
DREYFUS INVESTMENT PORTFOLIOS
CORE VALUE PORTFOLIO
MIDCAP STOCK PORTFOLIO
SUPPLEMENT TO PROSPECTUS
DATED MAY 1, 1998
EFFECTIVE SEPTEMBER 30, 1998, THE FOLLOWING PROCEDURE SHOULD BE USED
BY PARTICIPATING INSURANCE COMPANIES AND ELIGIBLE PLANS FOR THE PURCHASE OF
SHARES OF BOTH CORE VALUE PORTFOLIO AND MIDCAP STOCK PORTFOLIO (EACH A
"PORTFOLIO") BY WIRE.
Wire payments may be made if the bank account of the Participating
Insurance Company or Eligible Plan is in a commercial bank that is a member
of the Federal Reserve System or any other bank having a correspondent bank
in New York City. Immediately available funds may be transmitted by wire to
The Bank of New York (DDA#8900375108/DREYFUS INVESTMENT PORTFOLIOS:CORE VALUE
PORTFOLIO or DDA#8900375108/DREYFUS INVESTMENT PORTFOLIOS:MIDCAP STOCK
PORTFOLIO), for purchase of Portfolio shares. The wire must include the
Portfolio account number (for new accounts, a taxpayer identification number
should be included instead), account registration and dealer number if
applicable of the Participating Insurance Company or Eligible Plan.
EFFECTIVE JULY 31, 1998, THE FOLLOWING INFORMATION SUPERSEDES AND
REPLACES THE INFORMATION IN THE SECOND SENTENCE OF THE FIRST PARAGRAPH
CONTAINED IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "DIVIDENDS,
DISTRIBUTIONS AND TAXES."
The Core Value Portfolio declares and pays dividends from net
investment income quarterly. The MidCap Stock Portfolio declares and pays
dividends from net investment income annually.
172/174s0998
