February 9, 2000
DREYFUS DEBT AND EQUITY FUNDS -- DREYFUS CORE BOND FUND
SUPPLEMENT TO PROSPECTUS DATED MARCH 1, 1999
At a meeting of the Board of Trustees held on February 9, 2000, the Board
approved a multiple class distribution structure for the Fund, to become
effective on or about March 1, 2000 (the "Effective Date"). Outstanding shares
of the Fund prior to the Effective Date will be redesignated as "Class A shares"
as of the Effective Date. Class A shares will be subject to a maximum front-end
sales load of 4.50% of the offering price of such shares. HOWEVER, HOLDERS OF
FUND SHARES ON THE DAY PRIOR TO THE EFFECTIVE DATE WILL CONTINUE TO BE ELIGIBLE
TO PURCHASE CLASS A SHARES OF THE FUND FOR THEIR EXISTING FUND ACCOUNTS WITHOUT
A FRONT-END SALES LOAD.
At the meeting, the Board also approved changing the Fund's name to
"Dreyfus Premier Core Bond Fund" effective as of the Effective Date.
031s0200
February 9, 2000
DREYFUS DEBT AND EQUITY FUNDS -- DREYFUS HIGH YIELD SECURITIES FUND
SUPPLEMENT TO PROSPECTUS DATED MARCH 1, 1999
At a meeting of the Board of Trustees held on February 9, 2000, the Board
approved a multiple class distribution structure for the Fund, to become
effective on or about March 1, 2000 (the "Effective Date"). Outstanding shares
of the Fund prior to the Effective Date will be redesignated as "Class A shares"
as of the Effective Date. Class A shares will be subject to a maximum front-end
sales load of 5.75% of the offering price of such shares. HOWEVER, HOLDERS OF
FUND SHARES ON THE DAY PRIOR TO THE EFFECTIVE DATE WILL CONTINUE TO BE ELIGIBLE
TO PURCHASE CLASS A SHARES OF THE FUND FOR THEIR EXISTING FUND ACCOUNTS WITHOUT
A FRONT-END SALES LOAD.
At the meeting, the Board also approved changing the Fund's name to
"Dreyfus Premier High Yield Securities Fund" effective as of the Effective Date
043s0200
