November 9, 1995
DREYFUS SHORT-INTERMEDIATE MUNICIPAL BOND FUND
SUPPLEMENT TO PROSPECTUS
DATED AUGUST 1, 1995
THE FOLLOWING INFORMATION SUPERCEDES ANY CONTRARY INFORMATION
CONTAINED IN, AND SHOULD BE READ IN CONJUNCTION WITH, THE SECTION IN THE
FUND'S PROSPECTUS ENTITLED "DESCRIPTION OF THE FUND _ MANAGEMENT POLICIES."
The Fund may purchase investment grade Municipal Obligations.
Municipal Obligations are considered investment grade if they are rated at
least Baa by Moody's or BBB by S&P or Fitch. Municipal Obligations rated BBB
by S&P and Fitch lack outstanding investment characteristics and have
speculative characteristics.
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES THE 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":
Effective December 1, 1995, Dreyfus Transfer, Inc., a wholly-owned
subsidiary of The Dreyfus Corporation, which is located at One American
Express Plaza, Providence, Rhode Island 02903, will serve as the Fund's
Transfer and Dividend Disbursing Agent (the "Transfer Agent").
Effective January 1, 1996, the telephone number for the following
transactions is 1-800-645-6561 or, if you are calling from overseas,
516-794-5452:
* Dreyfus TELETRANSFER Privilege
* Telephone Exchange Privilege
* Wire Redemption Privilege
* Telephone Redemption Privilege
591s111095
