December 24, 1996
DREYFUS SHORT-INTERMEDIATE
MUNICIPAL BOND FUND
SUPPLEMENT TO PROSPECTUS
DATED AUGUST 1, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES THE INFORMATION
CONTAINED IN THE FOLLOWING INDICATED SECTIONS OF THE FUND'S PROSPECTUS:
ANNUAL FUND OPERATING EXPENSES
SHAREHOLDER TRANSACTION EXPENSES
Redemption Fee
(as a percentage of amount redeemed).... .10%
The information contained in the Fund's Annual Operating Expenses and
the Example do not reflect any redemption fee retained by the Fund.
HOW TO REDEEM SHARES
Effective February 28, 1997, the Fund will deduct a redemption fee
equal to .10% of the net asset value of Fund shares redeemed (including
redemptions through the use of the Fund Exchanges service) less than fifteen
days following the issuance of such shares. The fee will be retained by the
Fund and used primarily to offset the transaction costs that short-term
trading imposes on the Fund and its shareholders. No redemption fee will be
charged upon the redemption of shares through the Fund's Check Redemption
Privilege, Automatic Withdrawal Plan or Dreyfus Auto-Exchange Privilege, or
shares redeemed from omnibus accounts. Furthermore, no redemption fee will be
charged upon the redemption of Fund shares acquired through reinvestment of
dividends or distributions, nor will the redemption fee be used to pay fees
imposed for various Fund services or shares. The redemption fee may be
waived, modified or discontinued at any time, or from time to time.
591s122496
