April 21, 1994
DREYFUS INSURED MUNICIPAL BOND FUND, INC.
Supplement to Statement of Additional Information
Dated August 27, 1993
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.
Wire Redemption Privilege. An investor may request by wire or telephone
that redemption proceeds (minimum $1,000) be wired to the investor's
account at a bank which is a member of the Federal Reserve System, or a
correspondent bank if the investor's bank is not a member. An investor
may direct that redemption proceeds by paid by check (maximum $150,000 per
day) made out to the owners of record and mailed to the investor's
address. Redemption proceeds of less than $1,000 will be paid
automatically by check. Holders of jointly registered Fund or bank
accounts may have redemption proceeds of only up to $250,000 wired within
any 30-day period. The Fund reserves the right to refuse any redemption
request, including requests made shortly after a change of address, and
may limit the amount involved or the number of such requests.
Telephone Redemption Privilege. An investor may redeem Fund shares
(maximum $150,000 per day) by telephone if the investor has checked the
appropriate box on the Fund's Account Application or has filed an Optional
Services Form with the Transfer Agent. The redemption proceeds will be
paid by check and mailed to the investor's address. An investor may
telephone redemption instructions by calling 1-800-221-4060 or, if the
investor is calling from overseas, 1-401-455-3306. The Fund reserves the
right to refuse any request made by telephone, including request made
shortly after a change of address, and may limit the amount involved or
the number of telephone redemption requests. This Privilege may be
modified or terminated at any time by the Transfer Agent or the Fund.
Shares for which certificates have been issued, are not eligible for this
Privilege.
The following information supplements and should be read in
conjunction with the section of the Fund's Statement of Additional
Information entitled "Investment Objective and Management Policies--
Insurance Feature."
Mutual Fund insurance and New Issue Insurance also have been obtained
from Capital Guaranty Insurance Company ("Capital Guaranty"). The
following information regarding Capital Guaranty has been derived from
information furnished by Capital Guaranty. The Fund has not independently
verified any of the information, but the Fund is not aware of facts which
would render such information inaccurate.
Capital Guaranty is a "Aaa/AAA" rated monoline stock insurance
company incorporated in the State of Maryland, and is a wholly owned
subsidiary of Capital Guaranty Corporation, a Maryland insurance holding
company. Capital Guaranty is authorized to provide insurance in 49
states, the District of Columbia, and three U.S. territories. Capital
Guaranty Corporation is owned by Constellation Investments, Inc., an
affiliate of Baltimore Gas and Electric; Fleet Financial Group, Inc.,
Safeco Corporation; Sibag Finance Corporation, an affiliate of Siemens
A.G.; and United States Fidelity and Guaranty Company. Capital Guaranty
Corporation intends to complete an initial public offering before the end
of 1993, after which the current stockholders of Capital Guaranty
Corporation expect to own no more than 50% of its outstanding stock. As
of June 30, 1993, the total statutory policyholders' surplus and
contingency reserve of Capital Guaranty was $173,660,432 (unaudited) and
the total admitted assets were $264,075,675 (unaudited).
