February 19, 1997
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 May 12, 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.
591s021997
