November 25, 1997
THE DREYFUS/LAUREL FUNDS TRUST
DREYFUS CORE VALUE FUND
INVESTOR AND CLASS R SHARES
SUPPLEMENT TO PROSPECTUS
DATED MAY 1, 1997
At a meeting of the Board of Trustees held on November 20, 1997 (the
"Meeting"), the Board approved certain changes to the Fund's multiple class
distribution structure to become effective on or about January 16, 1998 (the
"Effective Date"). Accordingly, the Fund's Investor shares will be
redesignated as "Class A shares" and will be subject to a maximum front-end
sales load of 5.75%. HOLDERS OF THE FUND'S INVESTOR SHARES ON THE DAY PRIOR
TO THE EFFECTIVE DATE WILL CONTINUE TO BE ELIGIBLE TO PURCHASE CLASS A SHARES
OF THE FUND WITHOUT A FRONT-END SALES LOAD. Omnibus accounts will be eligible
to purchase Class A shares without a front-end sales load only on behalf of
their customers who held Investor shares of the Fund through such omnibus
account on the day prior to the Effective Date. The Fund's Restricted shares
will be redesignated as "Class R shares" and will not be subject to any load.
There are no changes to the Fund's Institutional shares, which are offered to
those customers of certain financial planners and investment advisers who
held shares of a predecessor class of the Fund on April 4, 1994.
In addition, the Dreyfus Step Program and the service allowing
full-time or part-time employees of Dreyfus or any of its affiliates or
subsidiaries to open an account with a minimum of $50 by having a portion of
their pay directly deposited into their Fund account will be terminated with
respect to the opening of new accounts as of the Effective Date.
At the Meeting, the Board also approved changing the Fund's name to
"Dreyfus Premier Core Value Fund" effective as of the Effective Date.
EFFECTIVE JANUARY 1, 1998, THE FOLLOWING INFORMATION SUPPLEMENTS AND
SUPERSEDES ANY CONTRARY INFORMATION CONTAINED IN THE PROSPECTUS UNDER THE
CAPTION "HOW TO BUY FUND SHARES."
The minimum initial investment if $750 for Dreyfus-sponsored Keogh
Plans, IRAs (including regular IRAs, spousal IRAs for a non-working spouse,
Roth IRAs, SEP-IRAs and rollover IRAs) and 403(b)(7) Plans with only one
participant and $500 for Dreyfus-sponsored Education IRAs, with no minimum on
subsequent purchases.
EFFECTIVE JANUARY 15, 1998, THE FOLLOWING POLICIES WILL BE IN EFFECT
FOR THE FUND:
ADDITIONAL INFORMATION ABOUT PURCHASES, EXCHANGES AND REDEMPTIONS.
The Fund is intended to be a long-term investment vehicle and is not designed
to provide investors with a means of speculation on short-term market
movements. A pattern of frequent purchases and exchanges can be disruptive to
efficient portfolio management and, consequently, can be detrimental to the
Fund's performance and its shareholders. Accordingly, if the Fund's
management determines that an investor is engaged in excessive trading, the
Fund, with or without prior notice, may temporarily or permanently terminate
the availability of Fund exchanges, or reject in whole or part any purchase
or exchange request, with respect to such investor's account. Such investors
also may be barred from purchasing other funds in
(CONTINUED ON REVERSE SIDE)
the Dreyfus Family of Funds. Generally, an investor who makes more than four
exchanges out of the Fund during any calendar year (for calendar year 1998,
beginning on January 15th) or who makes exchanges that appear to coincide
with an active market-timing strategy may be deemed to be engaged in
excessive trading. Accounts under common ownership or control will be
considered as one account for purposes of determining a pattern of excessive
trading. In addition, the Fund may refuse or restrict purchase or exchange
requests by any person or group if, in the judgment of the Fund's management,
the Fund would be unable to invest the money effectively in accordance with
its investment objective and policies or could otherwise be adversely
affected or if the Fund receives or anticipates receiving simultaneous orders
that may significantly affect the Fund (E.G., amounts equal to 1% or more of
the Fund's total assets). If an exchange request is refused, the Fund will
take no other action with respect to the shares until it receives further
instructions from the investor. The Fund may delay forwarding redemption
proceeds for up to seven days if the investor redeeming shares is engaged in
excessive trading or if the amount of the redemption request otherwise would
be disruptive to efficient portfolio management or would adversely affect the
Fund. The Fund's policy on excessive trading applies to investors who invest
in the Fund directly or through financial intermediaries, but does not apply
to the Dreyfus Auto-Exchange Privilege, to any automatic investment or
withdrawal privilege described herein, or to participants in
employer-sponsored retirement plans.
During times of drastic economic or market conditions, the Fund may
suspend the Exchange Privilege temporarily without notice and treat exchange
requests based on their separate components _ redemption orders with a
simultaneous request to purchase the other fund's shares. In such a case, the
redemption request would be processed at the Fund's next determined net asset
value but the purchase order would be effective only at the net asset value
next determined after the fund being purchased receives the proceeds of the
redemption, which may result in the purchase being delayed.
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE FUND'S PROSPECTUS.
The Fund's Class R shares are redesignated as "Restricted shares" and
the Fund's Investor shares are offered to any investor.
THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION
CONTAINED IN THE FUND'S PROSPECTUS.
The Telephone Redemption Privilege is granted automatically unless
you specifically refuse it by checking the applicable "No" box on the Account
Application. The Telephone Redemption Privilege may be established for an
existing account by a separate signed Shareholder Services Form or by oral
request from any of the authorized signatories on the account by calling
1-800-645-6561.
312/712s1197
November 25, 1997
THE DREYFUS/LAUREL FUNDS TRUST
DREYFUS CORE VALUE FUND
INSTITUTIONAL SHARES
SUPPLEMENT TO PROSPECTUS
DATED MAY 1, 1997
At a meeting of the Board of Trustees held on November 20, 1997 (the
"Meeting"), the Board approved certain changes to the Fund's multiple class
distribution structure to become effective on or about January 16, 1998 (the
"Effective Date"). THERE ARE NO CHANGES TO THE FUND'S INSTITUTIONAL SHARES,
WHICH ARE OFFERED TO THOSE CUSTOMERS OF CERTAIN FINANCIAL PLANNERS AND
INVESTMENT ADVISERS WHO HELD SHARES OF A PREDECESSOR CLASS OF THE FUND ON
APRIL 4, 1994. The Fund's Investor shares will be redesignated as "Class A
shares" and will be subject to a maximum front-end sales load of 5.75%.
Holders of the Fund's Investor shares on the day prior to the Effective Date
will continue to be eligible to purchase Class A shares of the Fund without a
front-end sales load. Omnibus accounts will be eligible to purchase Class A
shares without a front-end sales load only on behalf of their customers who
held Investor shares of the Fund through such omnibus account on the day
prior to the Effective Date. The Fund's Restricted shares will be
redesignated as "Class R shares" and will not be subject to any load.
At the Meeting, the Board also approved changing the Fund's name to
"Dreyfus Premier Core Value Fund" effective as of the Effective Date.
EFFECTIVE JANUARY 15, 1998, THE FOLLOWING POLICIES WILL BE IN EFFECT
FOR THE FUND:
ADDITIONAL INFORMATION ABOUT PURCHASES, EXCHANGES AND REDEMPTIONS.
The Fund is intended to be a long-term investment vehicle and is not designed
to provide investors with a means of speculation on short-term market
movements. A pattern of frequent purchases and exchanges can be disruptive to
efficient portfolio management and, consequently, can be detrimental to the
Fund's performance and its shareholders. Accordingly, if the Fund's
management determines that an investor is engaged in excessive trading, the
Fund, with or without prior notice, may temporarily or permanently terminate
the availability of Fund exchanges, or reject in whole or part any purchase
or exchange request, with respect to such investor's account. Such investors
also may be barred from purchasing other funds in the Dreyfus Family of
Funds. Generally, an investor who makes more than four exchanges out of the
Fund during any calendar year (for calendar year 1998, beginning on January
15th) or who makes exchanges that appear to coincide with an active
market-timing strategy may be deemed to be engaged in excessive trading.
Accounts under common ownership or control will be considered as one account
for purposes of determining a pattern of excessive trading. In addition, the
Fund may refuse or restrict purchase or exchange requests by any person or
group if, in the judgment of the Fund's management, the Fund would be unable
to invest the money effectively in accordance with its investment objective
and policies or could otherwise be adversely affected or if the Fund receives
or anticipates receiving simultaneous orders that may significantly affect
the Fund (E.G., amounts equal to 1% or more of the Fund's total assets). If
an exchange request is refused, the Fund will take no other action with
respect to the shares until it receives further instructions from the
investor. The Fund may delay forwarding redemption proceeds for up to seven
days if the investor redeeming shares is engaged in excessive trading or if
the amount of the redemption request otherwise would be disruptive to
efficient portfolio
(CONTINUED ON REVERSE SIDE)
management or would adversely affect the Fund. The Fund's policy on excessive
trading applies to investors who invest in the Fund directly or through
financial intermediaries, but does not apply to the Dreyfus Auto-Exchange
Privilege, to any automatic investment or withdrawal privilege described
herein, or to participants in employer-sponsored retirement plans.
During times of drastic economic or market conditions, the Fund may
suspend the Exchange Privilege temporarily without notice and treat exchange
requests based on their separate components _ redemption orders with a
simultaneous request to purchase the other fund's shares. In such a case, the
redemption request would be processed at the Fund's next determined net asset
value but the purchase order would be effective only at the net asset value
next determined after the fund being purchased receives the proceeds of the
redemption, which may result in the purchase being delayed.
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE FUND'S PROSPECTUS.
The Fund's Class R shares are redesignated as "Restricted shares" and
the Fund's Investor shares are offered to any investor.
THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION
CONTAINED IN THE FUND'S PROSPECTUS.
The Telephone Redemption Privilege is granted automatically unless
you specifically refuse it by checking the applicable "No" box on the Account
Application. The Telephone Redemption Privilege may be established for an
existing account by a separate signed Shareholder Services Form or by oral
request from any of the authorized signatories on the account by calling
1-800-645-6561.
392s1197
