DREYFUS STRATEGIC INVESTING
497, 1996-05-10
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                                                   May 10, 1996

                      PREMIER STRATEGIC INVESTING
                       SUPPLEMENT TO PROSPECTUS
                         DATED MARCH 1, 1996
        THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION
CONTAINED IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "MANAGEMENT OF THE
FUND--TRANSFER AND DIVIDEND DISBURSING AGENT AND CUSTODIAN."

        Mellon Bank, N.A., One Mellon Bank Center, Pittsburgh, Pennsylvania
15258, is the Fund's Custodian.
037s051096




                                                       May 10, 1996


                  PREMIER STRATEGIC INVESTING
          Supplement to Statement of Additional Information
                       Dated March 1, 1996


The following information supersedes any contrary information contained in
the section of the Fund's Statement of Additional Information entitled
"Transfer and Dividend Disbursing Agent, Custodian, Counsel and Independent
Auditors."

Mellon Bank, N.A., One Mellon Bank Center, Pittsburgh, Pennsylvania 15258, is
the Fund's Custodian.




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