May 1, 1996
The Dreyfus/Laurel Tax-Free Municipal Funds -
Dreyfus BASIC California Municipal Money Market Fund
Supplement to Prospectus
Dated February 29, 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.
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.
May 1, 1996
The Dreyfus/Laurel Tax-Free Municipal Funds -
Dreyfus BASIC New York Municipal Money Market Fund
Supplement to Prospectus
Dated February 29, 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.
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.
