December 23, 1999
Dreyfus Premier GNMA Fund
Supplement to Prospectus
Dated May 1, 1999
Effective December 31, 1999, the following information supplements and
supersedes any contrary information contained in the sections of the Fund's
Prospectus entitled "Your Investment - Account Policies" and "Your Investment -
Services for Fund Investors."
Right of Accumulation: lets you add the value of any Class A, Class B or
Class C shares in this fund, any other Dreyfus Premier fund, or any other fund
that is advised by Founders Asset Management LLC ("Founders"), an affiliate of
Dreyfus, sold with a sales load (that you already own) to the amount of your
next Class A investment for purposes of calculating the sales charge.
Dreyfus Dividend Sweep: for automatically reinvesting the dividends and
distributions from one Dreyfus fund into another Dreyfus fund or certain
Founders-advised funds (not available for IRAs).
Dreyfus Auto-Exchange Privilege: for making regular exchanges from one
Dreyfus fund into another Dreyfus fund or certain Founders-advised funds.
Exchange Privilege: you can exchange shares worth $500 or more (no minimum
for retirement accounts) from one class of the fund into the same class of
another Dreyfus Premier fund or Founders-advised fund.
December 23, 1999
Dreyfus Premier GNMA Fund
Supplement to Statement of Additional Information
Dated May 1, 1999
Effective December 31, 1999, the following information supersedes and
replaces the first sentence of the first paragraph contained in the section of
the Fund's Statement of Additional Information entitled "How to Buy
Shares--Right of Accumulation - Class A Shares."
Reduced sales loads apply to any purchase of Class A shares, shares
of other funds in the Dreyfus Premier Family of Funds which are sold with a
sales load, shares of certain other funds advised by the Manager or Founders
Asset Management LLC ("Founders"), an affiliate of the Manager, which are sold
with a sales load and shares acquired by a previous exchange of such shares
(hereinafter referred to as "Eligible Funds"), by you and any related
"purchaser" as defined above, where the aggregate investment, including such
purchase, is $50,000 or more.
Effective December 31, 1999, the following information supersedes and
replaces the first sentence of the first paragraph contained in the section of
the Fund's Statement of Additional Information entitled "Shareholder Services --
Fund Exchanges."
Clients of certain Service Agents may purchase, in exchange for Class
A, Class B or Class C shares of the Fund, shares of the same Class of another
fund in the Dreyfus Premier Family of Funds, shares of the same Class of certain
funds advised by Founders, or shares of certain other funds in the Dreyfus
Family of Funds, to the extent such shares are offered for sale in your state of
residence.
Effective December 31, 1999, the following information supersedes and
replaces the first sentence of the first paragraph contained in the section of
the Fund's Statement of Additional Information entitled "Shareholder Services --
Dreyfus Auto-Exchange Privilege."
Dreyfus Auto-Exchange Privilege permits you to purchase (on a
semi-monthly, monthly, quarterly or annual basis), in exchange for Class A,
Class B or Class C shares of the Fund, shares of the same Class of another fund
in the Dreyfus Premier Family of Funds, shares of the same Class of certain
funds advised by Founders, or shares of certain other funds in the Dreyfus
Family of Funds, of which you are a shareholder.
Effective December 31, 1999, the following information supersedes and
replaces the first sentence of the first paragraph contained in the section of
the Fund's Statement of Additional Information entitled "Shareholder Services -
Dreyfus Dividend Options."
Dreyfus Dividend Sweep allows you to invest automatically your
dividends or dividends and capital gain distributions, if any, from the Fund in
shares of the same Class of another fund in the Dreyfus Premier Family of Funds,
shares of the same Class of certain funds advised by Founders, or shares of
certain other funds in the Dreyfus Family of Funds, of which you are a
shareholder.
