June 20, 1994
DREYFUS CAPITAL VALUE FUND (A PREMIER FUND)
Supplement to Statement of Additional Information
Dated January 28, 1994
The following information modifies certain information in the section
of the Statement of Additional Information entitled "Shareholder Services -
- - Exchange Privilege" and "Shareholder Services -- Auto-Exchange
Privilege."
Investors also may exchange their Fund shares subject to a CDSC for
shares of Dreyfus Worldwide Dollar Money Market Fund, Inc. The shares so
purchased will be held in a special account created solely for this purpose
(the "Exchange Account"). Exchanges of shares from an Exchange Account
only can be made into certain other funds managed or administered by The
Dreyfus Corporation. No CDSC is charged when an investor exchanges into an
Exchange Account; however, the applicable CDSC will be imposed when shares
are redeemed from an Exchange Account or other applicable fund account.
Upon redemption, the applicable CDSC will be calculated without regard to
the time such shares were held in an Exchange Account. See "How to Redeem
Fund Shares." In addition to the limited Exchange and Auto-Exchange
Privileges noted herein, Exchange Account shares are eligible for the
Dividend Sweep Privilege and the Automatic Withdrawal Plan, and may receive
redemption proceeds only by Federal wire or by check.
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.
