April 21, 1994
DREYFUS CAPITAL VALUE FUND (A PREMIER FUND)
Supplement to Statement of Additional Information
Dated January 28, 1994
The following information supplements and should be read in
conjunction with the section of the Fund's 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 or dividends
and capital gains, if any, from the 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. The Fund may modify or terminate this privilege at any time or
charge a service fee. No such fee is currently contemplated. Shares held
under Keogh plans, IRAs or other retirement plans are not eligible for
this privilege.
