April 13, 1994
DREYFUS NEW YORK TAX EXEMPT FUNDS
Supplement to Combined Statement of Additional Information
Dated September 30, 1993
As Revised February 4, 1994
The following information supplements and supersedes any contrary
information contained in the section in the Funds' Statement of Additional
Information captioned "Redemption of Fund Shares--Redemption by Wire or
Telephone" and describes a new telephone redemption privilege:
Wire Redemption Privilege. An investor may request by wire or
telephone that redemption proceeds (minimum $1,000) be wired to the
investor's account at a bank which is a member of the Federal Reserve
System, or a correspondent bank if the investor's bank is not a member. An
investor may direct that redemption proceeds be paid by check (maximum
$150,000 per day) made out to the owners of record and mailed to the
investor's address. Redemption proceeds of less than $1,000 will be paid
automatically by check. Holders of jointly registered Fund or bank accounts
may have redemption proceeds of only up to $250,000 wired within any 30-day
period. Each Fund reserves the right to refuse any redemption request,
including requests made shortly after a change of address, and may limit the
amount involved or the number of such requests.
Telephone Redemption Privilege. An investor may redeem each Fund's
shares (maximum $150,000 per day) by telephone if the investor has checked
the appropriate box on the Fund's Account Application or has filed an
Optional Services Form with the Transfer Agent. The redemption proceeds
will be paid by check and mailed to the investor's address. An investor may
telephone redemption instructions by calling 1-800-221-4060 or, if the
investor is calling from overseas, 1-401-455-3306. Each Fund reserves the
right to refuse any request made by telephone, including requests made
shortly after a change of address, and may limit the amount involved or the
number of telephone redemption requests. This Privilege may be modified or
terminated at any time by the Transfer Agent or the Fund. Shares for which
certificates have been issued are not eligible for this Privilege.
The following information supplements and should be read in conjunction
with the section of the Funds' Statement of Additional Information entitled
"Shareholder Services":
Dreyfus Dividend ACH. Dreyfus Dividend ACH permits a shareholder to
transfer electronically on the payment date their dividends and capital
gains, if any, from each Fund to a designated bank account. Only an account
maintained at a domestic financial institution which is an Automated
Clearing House member may be so designated. Banks may charge a fee for this
service. For more information concerning Dreyfus Dividend ACH, or to
request a Dividend Options form, please call toll free 1-800-645-6561. You
may cancel this privilege by mailing written notification to The Dreyfus
Family of Funds, P.O. Box 9671, Providence, Rhode Island, 02940-9671.
Enrollment or cancellation is effective three business days following
receipt. This privilege is available only for existing accounts. Each Fund
may modify or terminate this privilege at any time or charge a service fee.
No such fee is currently contemplated.
