September 11, 1996
THE DREYFUS/LAUREL TAX-FREE MUNICIPAL FUNDS--
DREYFUS BASIC CALIFORNIA MUNICIPAL MONEY MARKET FUND
SUPPLEMENT TO PROSPECTUS
DATED FEBRUARY 29, 1996
AS REVISED AUGUST 26, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS AND SHOULD BE READ IN
CONJUNCTION WITH THE FUND'S PROSPECTUS.
DREYFUS DIVIDEND SWEEP PRIVILEGE -- The Dreyfus Dividend Sweep Privilege
enables you to automatically invest dividends, or dividends and capital gain
distributions, if any, paid by the Fund in shares of another fund in the
Dreyfus Family of Funds of which you are a shareholder. Shares of the other
fund will be purchased at the then-current net asset value; however, a sales
load may be charged with respect to investments in shares of a fund sold with
a sales load. If you are investing in a fund that charges a sales load, you
may qualify for share prices which do not include the sales load or which
reflect a reduced sales load. If you are investing in a fund that charges a
contingent deferred sales charge, the shares purchased will be subject to the
contingent deferred sales charge, if any, applicable to the purchased shares.
For more information concerning this privilege and the funds in the
Dreyfus Family of Funds eligible to participate in this privilege, or to
request a Dividend Options Form, please call toll free 1-800-645-6561. You
may cancel your participation in this privilege by mailing written
notification to The Dreyfus Family of Funds, P.O. Box 9671, Providence, Rhode
Island 02940-9671. To select a new fund after cancellation, you must submit a
new Dividend Options Form. Enrollment in or cancellation of this privilege is
effective three business days following receipt. This privilege is available
only for existing accounts and may not be used to open new accounts. Minimum
subsequent investments do not apply. The Fund may modify or terminate this
privilege at any time or charge a service fee. No such fee currently is
contemplated.
(CONTINUED ON REVERSE SIDE)
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE SECTIONS OF THE FUND'S PROSPECTUS ENTITLED
"FUND EXCHANGES" AND "HOW TO REDEEM FUND SHARES."
At a meeting of the Board of Trustees held on April 25, 1996, the
Board of Trustees approved limiting the number of exchanges a shareholder can
make out of the Fund to four per calendar year and increasing the minimum
amount required for an exchange from $500 to $1,000, increasing the minimum
amount for writing a redemption check pursuant to the Check Redemption
Privilege from $500 to $1,000 and increasing the minimum amount for any wire
redemption from $1,000 to $5,000. It is anticipated that these changes will
become effective on or about July 1, 1996.
307/707s091196
September 11, 1996
THE DREYFUS/LAUREL TAX-FREE MUNICIPAL FUNDS--
DREYFUS BASIC NEW YORK MUNICIPAL MONEY MARKET FUND
SUPPLEMENT TO PROSPECTUS
DATED FEBRUARY 29, 1996
AS REVISED AUGUST 26, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS AND SHOULD BE READ IN
CONJUNCTION WITH THE FUND'S PROSPECTUS.
DREYFUS DIVIDEND SWEEP PRIVILEGE -- The Dreyfus Dividend Sweep Privilege
enables you to automatically invest dividends, or dividends and capital gain
distributions, if any, paid by the Fund in shares of another fund in the
Dreyfus Family of Funds of which you are a shareholder. Shares of the other
fund will be purchased at the then-current net asset value; however, a sales
load may be charged with respect to investments in shares of a fund sold with
a sales load. If you are investing in a fund that charges a sales load, you
may qualify for share prices which do not include the sales load or which
reflect a reduced sales load. If you are investing in a fund that charges a
contingent deferred sales charge, the shares purchased will be subject to the
contingent deferred sales charge, if any, applicable to the purchased shares.
For more information concerning this privilege and the funds in the
Dreyfus Family of Funds eligible to participate in this privilege, or to
request a Dividend Options Form, please call toll free 1-800-645-6561. You
may cancel your participation in this privilege by mailing written
notification to The Dreyfus Family of Funds, P.O. Box 9671, Providence, Rhode
Island 02940-9671. To select a new fund after cancellation, you must submit a
new Dividend Options Form. Enrollment in or cancellation of this privilege
is effective three business days following receipt. This privilege is
available only for existing accounts and may not be used to open new
accounts. Minimum subsequent investments do not apply. The Fund may modify or
terminate this privilege at any time or charge a service fee. No such fee
currently is contemplated.
(CONTINUED ON REVERSE SIDE)
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE SECTIONS OF THE FUND'S PROSPECTUS ENTITLED
"FUND EXCHANGES" AND "HOW TO REDEEM FUND SHARES."
At a meeting of the Board of Trustees held on April 25, 1996, the
Board of Trustees approved limiting the number of exchanges a shareholder can
make out of the Fund to four per calendar year and increasing the minimum
amount required for an exchange from $500 to $1,000, increasing the minimum
amount for writing a redemption check pursuant to the Check Redemption
Privilege from $500 to $1,000 and increasing the minimum amount for any wire
redemption from $1,000 to $5,000. It is anticipated that these changes will
become effective on or about July 1, 1996.
316/716s091196
