February 20, 1996
PREMIER CALIFORNIA
MUNICIPAL BOND FUND
SUPPLEMENT TO PROSPECTUS
DATED JUNE 1, 1995
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE SECTIONS OF THE FUND'S PROSPECTUS ENTITLED
"MANAGEMENT OF THE FUND," "HOW TO BUY FUND SHARES," "SHAREHOLDER SERVICES"
AND "HOW TO REDEEM FUND SHARES":
Dreyfus Transfer, Inc., a wholly-owned subsidiary of The Dreyfus
Corporation, P.O. Box 9671, Providence, Rhode Island 02940-9671, is the
Fund's Transfer and Dividend Disbursing Agent (the "Transfer Agent").
In order to accomplish a transaction using the TELETRANSFER Privilege
or the Telephone Exchange Privilege, please contact your Financial
Representative. If you do not have a Financial Representative, you may
telephone 1-800-645-6561 or, if you are calling from overseas, 516-794-5452.
THE FOLLOWING INFORMATION SUPPLEMENTS AND SHOULD BE READ IN
CONJUNCTION WITH THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "HOW TO BUY
FUND SHARES -- CLASS A SHARES":
Class A shares also may be purchased at net asset value without a
sales load through certain broker-dealers and other financial institutions
which have entered into an agreement with the Distributor, which includes a
requirement that such shares be sold for the benefit of clients participating
in a "wrap account" or a similar program under which such clients pay a fee
to such broker-dealer or other financial institution.
Class A shares also may be purchased at net asset value, subject to
appropriate documentation, through a broker-dealer or other financial
institution with the proceeds from the redemption of shares of a registered
open-end management investment company not managed by The Dreyfus Corporation
or its affiliates. The purchase of Class A shares of the
(CONTINUED ON REVERSE SIDE)
Fund must be made within 60 days of such redemption and the shareholder must
have either (i) paid an initial sales charge or a contingent deferred sales
charge or (ii) been obligated to pay at any time during the holding period,
but did not actually pay on redemption, a deferred sales charge with respect
to such redeemed shares.
Class A shares also may be purchased at net asset value, subject to
appropriate documentation, by (i) qualified separate accounts maintained by an
insurance company pursuant to the laws of any State or territory of the United
States, (ii) a State, county or city or instrumentality thereof, (iii) a
charitable organization (as defined in Section 501(c)(3) of the Internal
Revenue Code of 1986, as amended (the "Code")) investing $50,000 or more in
Fund shares, and (iv) a charitable remainder trust (as defined in Section
501(c)(3) of the Code).
THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION
CONTAINED IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "MANAGEMENT OF THE
FUND":
Effective January 17, 1996, the Fund's primary portfolio manager is
Stephen C. Kris. Mr. Kris has been employed by The Dreyfus Corporation since
February 1988.
023/613s021996
