CONSENT OF INDEPENDENT AUDITORS
We consent to the reference to our firm under the caption
"Counsel and Independent Auditors" and to the use of our reports
dated February 7, 2000 for Core Value Portfolio, Emerging Leaders
Portfolio, Emerging Markets Portfolio, European Equity Portfolio,
Founders Discovery Portfolio, Founders Growth Portfolio, Founders
International Equity Portfolio, Founders Passport Portfolio,
Japan Portfolio, MidCap Stock Portfolio and Technology Growth
Portfolio, each a Portfolio of Dreyfus Investment Portfolios,
which are incorporated by reference in this Registration
Statement (Form N-1A 333-47011) of Dreyfus Investment Portfolios.
ERNST & YOUNG LLP
New York, New York
December 27, 2000
