December 16, 1996
DREYFUS MUNICIPAL BOND FUND, INC.
Supplement to Prospectus
Dated December 28, 1995
The following information supplements or replaces any contrary information
contained in the Fund's prospectus:
Shares acquired by purchase or exchange after May 9, 1997, and redeemed or
exchanged less than 15 days after they are acquired, will be subject to a
redemption fee of 0.10% of the value of the shares redeemed or exchanged. The
redemption fee will be retained by the Fund and used primarily to offset the
transaction costs that short-term trading imposes on the Fund and its
shareholders. For purposes of calculating the 15-day holding period, the Fund
will employ the "first in, first out" method, which assumes that the shares
redeemed or exchanged are the ones held the longest.
No redemption fee will be charged on the redemption or exchange of shares (1)
through the Fund's Check Redemption Privilege, Automatic Withdrawal Plan or
Dreyfus Auto-Exchange Privilege, (2) through accounts that are reflected on the
records of the Transfer Agent as omnibus accounts approved by Dreyfus Service
Corporation, (3) through accounts established by securities dealers, banks or
other financial institutions approved by Dreyfus Service Corporation that
utilize the National Securities Clearing Corporation's networking system, or (4)
acquired through the reinvestment of dividends or capital gains distributions.
The redemption fee may be waived, modified or terminated at any time.
