DREYFUS FOUNDERS FUNDS, INC.
CLASS F SHARES
SUPPLEMENT DATED OCTOBER 4, 2000 TO PROSPECTUS DATED MAY 1, 2000
DREYFUS FOUNDERS DISCOVERY FUND
Effective the close of business on October 20, 2000, Dreyfus Founders Discovery
Fund will be closed to new investors. Shareholders of the Fund on that date may
continue to make additional purchases and to reinvest dividends and capital
gains into accounts existing on that date. Investors who do not own shares of
the Fund on October 20, 2000 generally will not be allowed to buy shares of the
Fund, except that new accounts may be established by:
o Shareholders who have an account in any Dreyfus Founders Fund, provided that
their application to invest in the Discovery Fund is postmarked no later than
October 20, 2000;
o Participants in qualified defined contribution retirement plans (for example,
401(k) plans, profit sharing plans and money purchase plans), 403(b) plans
and 457 plans, so long as the Fund is established as an investment option
under the plan by October 20, 2000;
o Participants in qualified defined contribution retirement plans, 403(b) plans
and 457 plans if the plan is sponsored by a financial institution approved by
Founders Asset Management LLC or Dreyfus Service Corporation by October 20,
2000, as long as the plan's Discovery Fund account is funded by March 31,
2001; and
o Employees of Founders Asset Management LLC and directors of Dreyfus Founders
Funds, Inc., if they open accounts directly with Founders.
Discovery Fund shareholders who close their accounts after October 20, 2000 may
be prohibited from reactivating their account or opening a new Discovery Fund
account.
These restrictions generally will apply to investments made directly with
Founders or Dreyfus as well as investments made through financial
intermediaries, such as brokers, banks or financial advisers. Investors may be
required to demonstrate eligibility to purchase Fund shares before an investment
is accepted. The Fund reserves the right to resume sales of shares to new
investors at some future date, but there is no present intention to do so.
<PAGE>
DREYFUS FOUNDERS PASSPORT FUND
The first sentence of the section of the Funds' prospectus entitled "Fund by
Fund Summaries - Dreyfus Founders Passport Fund - Principal Investment Strategy"
is amended on page 22 to read as follows:
Passport Fund, an international fund, seeks aggressive growth through
investments in equity securities of foreign small-cap companies.
In addition, the following new definitional paragraph is added to page 23 of the
Funds' prospectus:
Foreign small-cap companies: generally, those foreign companies with
market capitalizations of less than $1.5 billion. This range may fluctuate
depending on changes in the value of the stock market as a whole.
<PAGE>
OCTOBER 4, 2000
DREYFUS FOUNDERS DISCOVERY FUND
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 2000
Effective the close of business on October 20, 2000, Dreyfus Founders Discovery
Fund will be closed to new investors. Shareholders of the Fund on that date may
continue to make additional purchases and to reinvest dividends and capital
gains into accounts existing on that date. Investors who do not own shares of
the Fund on October 20, 2000 generally will not be allowed to buy shares of the
Fund, except that new accounts may be established by:
o Shareholders who have an account in any Dreyfus Founders Fund, provided that
their application to invest in the Discovery Fund is postmarked no later than
October 20, 2000;
o Participants in qualified defined contribution retirement plans (for example,
401(k) plans, profit sharing plans and money purchase plans), 403(b) plans
and 457 plans, so long as the Fund is established as an investment option
under the plan by October 20, 2000;
o Participants in qualified defined contribution retirement plans, 403(b) plans
and 457 plans if the plan is sponsored by a financial institution approved by
Founders Asset Management LLC or Dreyfus Service Corporation by October 20,
2000, as long as the plan's Discovery Fund account is funded by March 31,
2001; and
o Employees of Founders Asset Management LLC and directors of Dreyfus Founders
Funds, Inc., if they open accounts directly with Founders.
Discovery Fund shareholders who close their accounts after October 20, 2000 may
be prohibited from reactivating their account or opening a new Discovery Fund
account.
These restrictions generally will apply to investments made directly with
Founders or Dreyfus as well as investments made through financial
intermediaries, such as brokers, banks or financial advisers. Investors may be
required to demonstrate eligibility to purchase Fund shares before an investment
is accepted. The Fund reserves the right to resume sales of shares to new
investors at some future date, but there is no present intention to do so.
<PAGE>
OCTOBER 4, 2000
DREYFUS FOUNDERS PASSPORT FUND
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 2000
The second sentence of first paragraph of the section of the fund's prospectus
entitled "The Fund - Investment Approach" is amended on the inside cover to read
as follows:
To pursue this goal, the fund seeks aggressive growth through investments
in equity securities of foreign small-cap companies.
In addition, the following new definitional paragraph is added to page 1 of the
fund's prospectus under the heading "Key concepts":
Foreign small-cap companies: generally, those foreign companies with
market capitalizations of less than $1.5 billion. This range may fluctuate
depending on changes in the value of the stock market as a whole.
