Dreyfus New York Insured Tax Exempt Bond Fund
Supplement dated May 12, 1999
to the Prospectus dated May 1, 1999
At a meeting of the Board of Trustees of Dreyfus New York Insured Tax Exempt
Bond Fund (the "Acquired Fund"), held on April 12, 1999, the Board approved,
subject to shareholder approval, an Agreement and Plan of Reorganization
(the "Agreement") between the Acquired Fund and General New York Municipal
Bond Fund, Inc. (the "Acquiring Fund"). The Agreement provides for the
transfer of all of the assets of the Acquired Fund, attributable to such
Fund's shares, in exchange solely for shares of Common Stock, par value $.01
per share, of the Acquiring Fund, and the assumption by the Acquiring Fund
of certain liabilities of the Acquired Fund and the distribution of the
Acquiring Fund Shares to the shareholders of the Acquired Fund in
liquidation of the Acquired Fund.
It is currently contemplated that shareholders of the Acquired Fund will be
asked to approve the Agreement at a special meeting of shareholders to be
held on or about August 4, 1999. If the Agreement is approved, the
Reorganization will become effective on or about August 31, 1999. A
Prospectus/Proxy Statement with respect to the proposed Reorganization will
be mailed to Acquired Fund shareholders prior to the meeting. The
Prospectus/Proxy Statement will describe the Acquiring Fund and other
matters.
