January 28, 1994
DREYFUS STRATEGIC INCOME
Supplement to Prospectus Dated January 28, 1994
The following information supplements and should be read in
conjunction with the section of the Fund's Prospectus entitled "Management
of the Fund."
The Fund's manager, The Dreyfus Corporation ("Dreyfus"), has entered
into an Agreement and Plan of Merger providing for the merger of Dreyfus
with a subsidiary of Mellon Bank Corporation ("Mellon").
Upon closing of the merger, it is planned that Dreyfus will retain its
New York headquarters and will be a separate subsidiary within the Mellon
organization. It is expected that the Dreyfus management team and the
Dreyfus mutual fund managers will remain in place, and the Dreyfus mutual
funds will be operated in the same manner as they are currently.
Following the merger, Dreyfus will be either a direct or indirect
subsidiary of Mellon, whose principal banking subsidiary is Mellon Bank,
N.A. Closing of this merger is subject to a number of contingencies,
including the receipt of certain regulatory approvals and the approvals of
the stockholders of Dreyfus and of Mellon. The merger is expected to occur
in mid-1994, but could occur significantly later.
Because the merger will constitute an "assignment" of the Fund's
Management Agreement with Dreyfus under the Investment Company Act of 1940
and thus, a termination of such Agreement, Dreyfus will seek prior approval
from the Fund's Board and shareholders.
