December 22, 1999
DREYFUS PREMIER STATE MUNICIPAL BOND FUND
SUPPLEMENT TO PROSPECTUS
DATED SEPTEMBER 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 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 the fund into another Dreyfus fund or certain
Founders-advised funds (not available for IRAs).
Dreyfus Auto-Exchange Privilege: for making regular exchanges from the
fund into another Dreyfus fund or certain Founders-advised funds.
Exchange Privilege: you can exchange shares worth $500 or more from one
class of a series into the same class of another Dreyfus Premier fund or
Founders-advised fund.
PSTMBs1299
December 22, 1999
Dreyfus Premier State Municipal Bond Fund
Supplement to Statement of Additional Information
Dated September 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 a Series, 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 a Series, 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.
