June 20, 1994
PREMIER STATE MUNICIPAL BOND FUND
SUPPLEMENT TO PROSPECTUS
DATED FEBRUARY 18, 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 (the "Merger Agreement") providing
for the merger of Dreyfus with a subsidiary of Mellon Bank Corporation
("Mellon").
Following the merger, it is planned that Dreyfus will be a direct
subsidiary of 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 August 1994, but could occur
significantly later.
As a result of regulatory requirements and the terms of the Merger
Agreement, Dreyfus will seek various approvals from the Fund's
shareholders before completion of the merger. Proxy materials, approved
by the Fund's Board, recently have been mailed to Fund shareholders.
The following information modifies certain information in the sections
of the Prospectus entitled "Shareholder Services -- Exchange Privilege"
and "Shareholder Services -- Auto-Exchange Privilege."
Investors also may exchange their Fund shares subject to a CDSC for
shares of Dreyfus Worldwide Dollar Money Market Fund, Inc.
(CONTINUED ON REVERSE SIDE)
The shares so purchased will be held in a special account created solely
for this purpose (the "Exchange Account"). Exchanges of shares from an
Exchange Account only can be made into certain other funds managed or
administered by The Dreyfus Corporation. No CDSC is charged when an
investor exchanges into an Exchange Account; however, the applicable
CDSC will be imposed when shares are redeemed from an Exchange
Account or other applicable fund account. Upon redemption, the applicable
CDSC will be calculated without regard to the time such shares were held
in an Exchange Account. See "How to Redeem Fund Shares." In addition to
the limited Exchange and Auto-Exchange Privileges noted herein, Exchange
Account shares are eligible for the Dividend Sweep Privilege and the
Automatic Withdrawal Plan, and may receive redemption proceeds only by
Federal wire or by check.
The following information supplements and should be read in
conjunction with the section of the Fund's Prospectus entitled
"Performance Information."
From time to time, advertising materials for the Fund also may refer to
Value Line Mutual Fund Survey company ratings and related analyses
supporting the rating.
PSTEBFstkr062094
June 20, 1994
PREMIER STATE MUNICIPAL BOND FUND
Supplement to Statement of Additional Information
Dated February 18, 1994
The following information modifies certain information in the sections
of the Statement of Additional Information entitled "Shareholder Services --
Exchange Privilege" and "Shareholder Services -- Auto-Exchange Privilege."
Investors also may exchange their Fund shares subject to a CDSC for
shares of Dreyfus Worldwide Dollar Money Market Fund, Inc. The shares so
purchased will be held in a special account created solely for this purpose
(the "Exchange Account"). Exchanges of shares from an Exchange Account only
can be made into certain other funds managed or administered by The Dreyfus
Corporation. No CDSC is charged when an investor exchanges into an Exchange
Account; however, the applicable CDSC will be imposed when shares are
redeemed from an Exchange Account or other applicable fund account. Upon
redemption, the applicable CDSC will be calculated without regard to the time
such shares were held in an Exchange Account. See "How to Redeem Fund
Shares" in the Fund's Prospectus. In addition to the limited Exchange and
Auto-Exchange Privileges noted herein, Exchange Account shares are eligible
for the Dividend Sweep Privilege and the Automatic Withdrawal Plan, and may
receive redemption proceeds only by Federal wire or by check.
The following information supplements and should be read in conjunction
with the section of the Fund's Statement of Additional Information entitled
"Shareholder Services."
Dividend ACH. Dividend ACH permits a shareholder to transfer
electronically their dividends or dividends and capital gains, if any, from
the Fund to a designated bank account. Only an account maintained at a
domestic financial institution which is an Automated Clearing House member
may be so designated. Banks may charge a fee for this service. For more
information concerning Dividend ACH, or to request a Dividend Options form,
please call toll free 1-800-645-6561. You may cancel this privilege by
mailing written notification to Premier State Municipal Bond Fund, P.O. Box
6587, Providence, Rhode Island 02940-6587. Enrollment or cancellation is
effective three business days following receipt. This privilege is available
only for existing accounts. The Fund may modify or terminate this privilege
at any time or charge a service fee. No such fee is currently contemplated.
