May 10, 1996
PREMIER CAPITAL GROWTH FUND
Supplement to Prospectus
Dated January 8, 1996
The following information supersedes any contrary information
contained in the section of the Fund's Prospectus entitled "Management of
the Fund-Custodian and Transfer and Dividend Disbursing Agent."
Mellon Bank, N.A., One Mellon Bank Center, Pittsburgh, Pennsylvania
15258, serves as the Fund's Custodian.
009/s051096
May 10, 1996
PREMIER GROWTH AND INCOME FUND
Supplement to Prospectus
Dated January 2, 1996
The following information supplements and supersedes any contrary
information contained in the sections of the Fund's Prospectus entitled
"How to Buy Shares" and "How to Redeem Shares."
Effective March 15, 1996 through June 30, 1996, or such later date as
the distributor in its discretion may determine, the dealer reallowance
will be the full amount of the sales load charged on the sale of Class A
shares. In addition, during such period, the distributor or its designee
may pay dealers a fee of up to 1% of the amount invested through such
dealers in Class A or Class B shares of the Fund.
The following information supersedes any contrary information
contained in the section of the Fund's Prospectus entitled "Management of
the Fund-Custodian and Transfer and Dividend Disbursing Agent."
Dreyfus Transfer, Inc., a wholly-owned subsidiary of The Dreyfus
Corporation, is located at One American Express Plaza, Providence, Rhode
Island 02903, and serves as the Fund's Transfer and Dividend Disbursing
Agent (the "Transfer Agent"). Mellon Bank, N.A., One Mellon Bank Center,
Pittsburgh, Pennsylvania 15258, serves as the Fund's Custodian.
320/s051096
PREMIER EQUITY FUNDS, INC.
Premier Capital Growth Fund
Premier Growth and Income Fund
Supplement to Statement of Additional Information
dated January 8, 1996
The following information supersedes any contrary information
contained in the section of the Funds' Statement of Additional Information
entitled "Transfer and Dividend Disbursing Agent, Custodian, Counsel and
Independent Auditors."
Mellon Bank, N.A., One Mellon Bank Center, Pittsburgh, Pennsylvania
15258, is the Company's Custodian.
