March 16, 2000
DREYFUS PREMIER VALUE EQUITY FUNDS
Dreyfus Premier Value Fund
Dreyfus Premier International Value Fund
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED
MARCH 1, 2000
The following information replaces all contrary information contained in
the sections of the Statement of Additional Informationentitled "Description of
the Company and the Funds", "Management of the Company," and "Management
Arrangements":
Effective March 16, 2000, Dreyfus Service Corporation ("DSC") became the
distributor to the Fund. DSC is located at 200 Park Avenue, New York, NY 10166.
The following information replaces the information contained in the
section of the Statement of Additional Information entitled "Management of the
Company - Officers of the Company":
Stephen E. Canter, President. President, Chief Operating Officer, and Chief
Investment Officer of the Manager, and an officer of other investment
companies advised and administered by the Manager. Mr. Canter also is a
Director or an Executive Committee Member of the other investment
management subsidiaries of Mellon Financial Corporation, each of which is
an affiliate of the Manager. He is 54 years old.
Joseph Connolly, Vice President and Treasurer. Director - Mutual Fund Accounting
of the Manager, and an officer of other investment companies advised and
administered by the Manager. He is 42 years old.
Mark N. Jacobs, Vice President. Vice President, Secretary, and General Counsel
to the Manager, and an officer of other investment companies advised and
administered by the Manager. He is 53 years old.
John B. Hammalian, Secretary. Associate General Counsel of the Manager, and an
officer to other investment companies advised and administered by the
Manager. He is 36 years old.
Steven F. Newman, Assistant Secretary. Associate General Counsel and Assistant
Secretary of the Manager, and an officer of other investment companies
advised and administered by the Manager. He is 50 years old.
Michael A. Rosenberg, Assistant Secretary. Associate General Counsel of the
Manager, and an officer of other investment companies advised and
administered by the Manager. He is 40 years old.
The address of each Fund officer is 200 Park Avenue, New York, NY 10166.
The following information supplements the information contained in the
section of the Statement of Additional Information entitled "Management
Arrangements - Distributor":
Disclosure of the amounts retained by "the distributor" on the sale of
shares of the Fund refers to amounts retained by Premier Mutual Fund Services,
Inc. ("Premier"), the Fund's distributor prior to March 16, 2000. No information
is provided for Dreyfus Service Corporation, as it was not the Fund's
distributor as of the Fund's last fiscal year end.
Also, the fifth paragraph of this section hereby is deleted in its
entirety and replaced with the following:
"DSC makes commission payments to Service Agents in connection with
the sale of Fund shares, and receives CDSC amounts and Distribution
Plan fees to defray these expenses."
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The clause "Pursuant to an agreement with the Distributor" hereby is
deleted in the following sections of the SAI; (i) the last sentence of the
fourth paragraph of the section of the SAI entitled "How to Buy Shares- Class A
Shares"; (ii) the fourth sentence of the first paragraph of the section entitled
"How to Buy Shares - Class B Shares"; (iii) the third sentence of the second
paragraph of the section entitled "How to Buy Shares- Class T Shares"; (iv) the
last sentence of the third paragraph of the section entitled "How to Redeem
Shares - Contingent Deferred Sales Charge--Class B Shares", and (v) the last
sentence of the section entitled "How to Redeem Shares - Contingent Deferred
Sales Charge--Class C Shares."
