DREYFUS INTERMEDIATE MUNICIPAL BOND FUND, INC.
1 Investment Objective
The Fund's goal is to provide you with the maximum amount of
current income exempt from Federal income tax that is consistent
with the preservation of capital.
2 Investment Strategy
The Fund ordinarily will invest at least 65% of its net assets in
debt securities, such as bonds, debentures and other debt
instruments. At least 80% of the value of the Fund's net assets
must consist of Municipal Obligations which, in the case of bonds,
are rated no lower than A by Moody's, S&P or Fitch. The Fund's
dollar-weighted average portfolio maturity ranges between three and
ten years. The Fund also may invest in securities which, while not
rated, are determined by The Dreyfus Corporation to be of comparable
quality to the rated securities in which the Fund may invest.
3 Investment Risks
n All mutual funds of this type involve certain investment risks,
including the possible loss of money.
n The prices of debt securities are inversely affected by changes
in interest rates and,
therefore, are subject to the risk of market price fluctuations.
These fluctuations will affect the value of a Fund share and thus
the Fund's total return to investors.
n Higher-yielding (and therefore, higher-risk) debt securities are
subject to greater volatility and less liquidity than certain lower-
yielding, higher rated debt securities.
4 Appropriate for Investors Who:
n Are seeking to maximize current income exempt from Federal
income tax.
n Are purchasing as a supplement to an overall investment program
and are willing to undertake the risks involved.
n Have an investment horizon of at least three years.
5 Fees and Expenses
Shareholder Transaction Expenses are paid by investors when purchasing or
redeeming Fund shares. The Fund has no shareholder transaction expenses.
Annual Fund Operating Expenses are fees paid by the Fund, and are
reflected in the Fund's share price. The following expenses are
expressed as a percentage of average daily net assets:
Management Fee .59%
Other Expenses .12%
Total Fund Operating Expenses .71%
Example:
You would pay the following expenses on a $1,000 investment,
assuming (1) a 5% annual return and (2) redemption at the end of
each time period:
1 Year 3 Years 5 Years 10 Years
$7 $23 $40 $88
The purpose of this section is to assist you in understanding the costs and
expenses borne by the Fund, the payment of which will reduce investors'
annual return. The example is an illustration only; actual expenses and
returns will vary.
6 Past Performance
[Exhibit A: Calendar Year Total Return]
Average Annual Total Return
for period ended 9/30/96
1 Year 5 Years 10 Years
Dreyfus
Intermediate
Municipal Bond Fund 4.26% 6.69% 7.00%
Lipper Intermediate
Municipal Debt
Funds 4.31% 6.23% 6.74%
Past performance is no guarantee of future results; net asset value, yield and
investment return fluctuate, so that when you sell your shares you may receive
more or less than the amount you paid for them. The Lipper Intermediate
Municipal Debt Funds is comprised of intermediate municipal bond funds.
7 Investment Adviser
The Dreyfus Corporation is the Fund's investment adviser. Monica Wieboldt
has been the Fund's primary portfolio manager since 1985. Ms. Wieboldt
joined Dreyfus in November 1983 as a Portfolio Manager Associate. Prior
to that, she worked for Bankers Trust Company for six years and held
posts of Assistant Treasurer and Municipal Bond Trader
for the Trust Department.
8 Purchases
The minimum initial investment is $2,500. The initial investment must be
accompanied by the Fund's Account Application. Subsequent investments
must be at least $100. You may purchase Fund shares by
check or wire, or through the Dreyfus TeleTransfer privilege.
9 Redemptions
You can sell Fund shares by written request, telephone, Dreyfus Tele
Transfer ($500 minimum, $150,000 maximum), wire redemption ($1,000
minimum, $250,000 maximum) or by writing a redemption check ($500
minimum).
When a redemption request is received in proper form, the Fund will
redeem the shares at the next determined net asset value.
10 Distributions
Dividends are declared daily and paid monthly; capital gains, if
any, are declared and paid annually. Dividends and capital gains can be
mailed to you, sent directly to your bank, swept into another Dreyfus
account or reinvested back into your Fund to purchase additional shares
at net asset value.
Distributions of net investment income are not subject to Federal
income tax. Distributions of any net realized short-term capital gains
will be taxable as ordinary income. Distributions from net realized
long-term capital gains will be taxable as long-term capital gains,
regardless of how long investors have held their shares.
11 Other Services
n Telephone Exchange Privilege
n Dreyfus-AUTOMATIC Asset BuilderRegistration Mark
n Dreyfus Dividend Options
n Dreyfus Payroll Savings Plan
n Dreyfus Step Program
This Profile contains key information about the Fund. If you would like more
information before you invest, please consult the Fund's Prospectus. For
details about the Fund's holdings or recent investment strategies, please
review the Fund's most recent annual or semi-annual report. The Prospectus
and reports may be obtained at no cost by calling:
1-800-782-6620
Copy Rights 1996, Dreyfus Service Corporation, Broker-Dealer
Premier Mutual Fund Services, Distributor 947retpro5-9610
Registration Mark
[Dreyfus lion/2hres logo]
DREYFUS
INTERMEDIATE
MUNICIPAL BOND FUND,
INC.
A tax exempt
bond fund
PROFILE PROSPECTUS
October 1, 1996
Dreyfus lion/2hres logo]
