December 1, 1995
DREYFUS CAPITAL VALUE FUND
(A PREMIER FUND)
SUPPLEMENT TO PROSPECTUS
DATED AUGUST 21, 1995
THE FOLLOWING INFORMATION SUPPLEMENTS AND REPLACES ANY CONTRARY
INFORMATION CONTAINED IN THE SECTIONS OF THE FUND'S PROSPECTUS ENTITLED
"MANAGEMENT OF THE FUND," "HOW TO BUY FUND SHARES," "SHAREHOLDER SERVICES"
AND "HOW TO REDEEM FUND SHARES":
Dreyfus Transfer, Inc., a wholly-owned subsidiary of Dreyfus, is
located at One American Express Plaza, Providence, Rhode Island 02903, and
serves as the Fund's Transfer and Dividend Disbursing Agent (the "Transfer
Agent").
In order to accomplish a transaction using the TELETRANSFER Privilege
or the Telephone Exchange Privilege, please contact your financial
representative. If you do not have a financial representative, you may
telephone 1-800-645-6561 or, if you are calling from overseas, 516-794-5452.
The numbers will be effective January 1, 1996.
107s120195
December 1, 1995
DREYFUS CAPITAL VALUE FUND (A PREMIER FUND)
CLASS A, CLASS B, CLASS C AND CLASS R SHARES
Supplement to Statement of Additional Information
Dated August 21, 1995
The following information supplements or replaces the information
contained in the following indicated sections of the Fund's Statement of
Additional Information:
PURCHASE OF FUND SHARES
Dreyfus TeleTransfer Privilege. Dreyfus TeleTransfer purchase orders
may be made at any time. Purchase orders received by 4:00 P.M., New York
time, on any business day that Dreyfus Transfer, Inc., the Fund's transfer
and dividend disbursing agent (the "Transfer Agent"), and the New York
Stock Exchange are open for business will be credited to the shareholder's
Fund account on the next bank business day following such purchase order.
Purchase orders made after 4:00 P.M., New York time, on any business day
the Transfer Agent and the New York Stock Exchange are open for business,
or orders made on Saturday, Sunday or any Fund holiday (e.g., when the New
York Stock Exchange is not open for business), will be credited to the
shareholder's Fund account on the second bank business day following such
purchase order.
CUSTODIAN, TRANSFER AND DIVIDEND DISBURSING AGENT,
COUNSEL AND INDEPENDENT AUDITORS
Dreyfus Transfer, Inc., a wholly owned subsidiary of Dreyfus, is
located at One American Express Plaza, Providence, Rhode Island 02903,
and serves as the Fund's transfer and dividend disbursing agent. Under a
transfer agency agreement with the Fund, the Transfer Agent arranges for
the maintenance of shareholder account records for the Fund, the handling
of certain communications between shareholders and the Fund and the
payment of dividends and distributions payable by the Fund. For these
services, the Transfer Agent receives a monthly fee computed on the basis
of the number of shareholder accounts it maintains for the Fund during the
month, and is reimbursed for certain out-of-pocket expenses. The Transfer
Agent has no part in determining the investment policies of the Fund or
which securities are to be purchased or sold by the Fund.
