March 16, 2000
DREYFUS APPRECIATION FUND, INC.
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 1999
The following information replaces all contrary information contained in
the sections of the Statement of Additional Information ("SAI") entitled
"Description of the Fund", "Management of the Fund" and "Management
Arrangements":
Effective March 16, 2000, Dreyfus Service Corporation ("DSC") became the
distributor to the Fund. DSC is located at 200 Park Avenue, New York, NY 10166.
The following information replaces the information contained in the
section of the Statement of Additional Information ("SAI") entitled "Management
of the Fund - Officers of the Fund":
Stephen E. Canter, President. President, Chief Operating Officer, and Chief
Investment Officer of the Manager, and an officer of other investment
companies advised and administered by the Manager. Mr. Canter also is a
Director or an Executive Committee Member of the other investment
management subsidiaries of Mellon Financial Corporation, each of which is
an affiliate of the Manager. He is 54 years old.
Mark N. Jacobs, Vice President. Vice President, General Counsel and Secretary to
the Manager, and an officer of other investment companies advised and
administered by the Manager. He is 53 years old.
Joseph Connolly, Vice President and Treasurer. Director - Mutual Fund Accounting
of the Manager, and an officer of other investment companies advised and
administered by the Manager. He is 42 years old.
Steven F. Newman, Secretary. Associate General Counsel and Assistant Secretary
of the Manager, and an officer of other investment companies advised and
administered by the Manager. He is 50 years old.
Michael A. Rosenberg, Assistant Secretary. Associate General Counsel of the
Manager, and an officer of other investment companies advised and
administered by the Manager. He is 40 years old.
Janette E. Farragher, Assistant Secretary. Assistant General Counsel of the
Manager, and an officer of other investment companies advised and
administered by the Manager. She is 37 years old.
James Windels, Assistant Treasurer. Senior treasury Manager of the Manager, and
an officer of other investment companies advised and administered by the
Manager. He is 41 years old.
The address of each Fund officer is 200 Park Avenue, New York, NY 10166.
