December 1,1996
THE DREYFUS/LAUREL TAX-FREE MUNICIPAL FUNDS --
PREMIER LIMITED TERM CALIFORNIA MUNICIPAL FUND
PREMIER LIMITED TERM MASSACHUSETTS MUNICIPAL FUND
PREMIER LIMITED TERM NEW YORK MUNICIPAL FUND
SUPPLEMENT TO PROSPECTUS
DATED NOVEMBER 1, 1996
THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE THIRD PARAGRPH
IN THE SECTION OF THE FUNDS' PROSPECTUS ENTITLED "SHAREHOLDER SERVICES --
AUTOMATIC WITHDRAWAL PLAN."
No CDSC with respect to Class B shares will be imposed on withdrawals
made under the Automatic Withdrawal Plan, provided that the amounts withdrawn
under the plan do not exceed on an annual basis 12% of the account value at
the time the shareholder elects to participate in the Automatic Withdrawal
Plan. Withdrawals with respect to Class B shares under the Automatic
Withdrawal Plan that exceed on an annual basis 12% of the value of the
shareholder's account will be subject to a CDSC on the amounts exceeding 12%
of the initial account value. Class C shares withdrawn pursuant to the
Automatic Withdrawal Plan will be subject to any applicable CDSC. Purchases
of additional Class A shares where the sales load is imposed concurrently
with withdrawals of Class A shares generally are undesirable.
THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE SECTION OF THE
FUNDS' PROSPECTUS ENTITLED "HOW TO REDEEM FUND SHARES -- REINVESTMENT
PRIVILEGE."
REINVESTMENT PRIVILEGE -- Upon written request, you may reinvest up to the
number of Class A or Class B shares you have redeemed, within 45 days of
redemption, at the then-prevailing net asset value without a sales load, or
reinstate your account for the purpose of exercising Fund Exchanges. Upon
reinstatement, a Class B shareholder's account will be credited with an
amount equal to the CDSC previously paid upon redemption of the Class B
shares reinvested. The Reinvestment Privilege may be exercised only once.
LTSTs120196
December 1, 1996
THE DREYFUS/LAUREL TAX-FREE MUNICIPAL FUNDS --
PREMIER LIMITED TERM
MUNICIPAL FUND
SUPPLEMENT TO PROSPECTUS
DATED NOVEMBER 1, 1996
THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE THIRD PARAGRAPH
IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "SHAREHOLDER SERVICES --
AUTOMATIC WITHDRAWAL PLAN."
No CDSC with respect to Class B shares will be imposed on withdrawals
made under the Automatic Withdrawal Plan, provided that the amounts withdrawn
under the plan do not exceed on an annual basis 12% of the account value at
the time the shareholder elects to participate in the Automatic Withdrawal
Plan. Withdrawals with respect to Class B shares under the Automatic
Withdrawal Plan that exceed on an annual basis 12% of the value of the
shareholder's account will be subject to a CDSC on the amounts exceeding 12%
of the initial account value. Class C shares withdrawn pursuant to the
Automatic Withdrawal Plan will be subject to any applicable CDSC. Purchases
of additional Class A shares where the sales load is imposed concurrently
with withdrawals of Class A shares generally are undesirable.
THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE SECTION OF THE
FUND'S PROSPECTUS ENTITLED "HOW TO REDEEM FUND SHARES -- REINVESTMENT
PRIVILEGE."
REINVESTMENT PRIVILEGE -- Upon written request, you may reinvest up to the
number of Class A or Class B shares you have redeemed, within 45 days of
redemption, at the then-prevailing net asset value without a sales load, or
reinstate your account for the purpose of exercising Fund Exchanges. Upon
reinstatement, a Class B shareholder's account will be credited with an
amount equal to the CDSC previously paid upon redemption of the Class B
shares reinvested. The Reinvestment Privilege may be exercised only once.
PLTs120196
