March 21, 1997
DREYFUS GNMA FUND, INC.
SUPPLEMENT TO PROSPECTUS
DATED SEPTEMBER 2, 1996
THE FOLLOWING INFORMATION SUPERSEDES THE INFORMATION CONTAINED IN THE
SECOND PARAGRAPH OF THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "MANAGEMENT
OF THE FUND -- INVESTMENT ADVISER."
The Fund's primary portfolio manager is Michael Hoeh. He has held
that position since March, 1997, and has been employed by The Dreyfus
Corporation since October, 1996. Prior to joining The Dreyfus Corporation, he
was Senior Vice President-Portfolio Management for ARM Capital Advisors,
Inc., and prior thereto Vice President-Risk Management of Blackrock Financial
Management.
THE FOLLOWING INFORMATION REPLACES THE SECOND SENTENCE OF THE SECOND
PARAGRAPH OF THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "HOW TO REDEEM
SHARES -- GENERAL:"
Service Agents may charge their clients a fee for effecting
redemptions of Fund shares.
265s032197
