DREYFUS SHORT INTERMEDIATE MUNICIPAL BOND FUND
497, 2000-03-30
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                                                                 March 30, 2000

                DREYFUS SHORT INTERMEDIATE MUNICIPAL BOND FUND

                           SUPPLEMENT TO PROSPECTUS

                             DATED AUGUST 1, 1999

THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY INFORMATION
CONTAINED IN THE FUND'S PROSPECTUS:

      Shares  acquired  by purchase or exchange after May 30, 2000, and redeemed
or  exchanged  less  than  30 days after they are acquired, will be subject to a
redemption  fee  of  0.10% of the value of the shares redeemed or exchanged. The
redemption  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.  For  purposes  of calculating the 30-day holding period, the Fund
will  employ  the  "first  in,  first out" method, which assumed that the shares
redeemed or exchanged are the ones held the longest.

      No  redemption fee will be charged on the redemption or exchange of shares
(1)  through  the  Fund's  Automatic  Withdrawal  Plan or Dreyfus Auto-Exchange
Privilege,  (2)  through  accounts  that  are  reflected  on  the records of the
Transfer  Agent as omnibus accounts approved by Dreyfus Service Corporation, (3)
through  accounts  established  by  securities dealers, banks or other financial
institutions  approved  by Dreyfus Service Corporation that utilize the National
Securities Clearing Corporation's networking system, or (4) acquired through the
reinvestment of dividends or capital gains distributions. The redemption fee may
be waived, modified or terminated at any time.


                                                                      591s0300A



                                                                 March 30, 2000


                 DREYFUS SHORT INTERMEDIATE MUNICIPAL BOND FUND

             SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION

                              DATED AUGUST 1, 1999


     THE FOLLOWING INFORMATION  SUPPLEMENTS OR REPLACES ANY CONTRARY INFORMATION
CONTAINED IN THE FUND'S STATEMENT OF ADDITIONAL INFORMATION:

     Shares acquired by purchase or exchange after May 30, 2000, and redeemed or
exchanged  less than 30 days  after  they are  acquired,  will be  subject  to a
redemption  fee of 0.10% of the value of the shares  redeemed or exchanged.  The
redemption  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.  For purposes of calculating the 30-day holding  period,  the Fund
will employ the "first in,  first out"  method,  which  assumed  that the shares
redeemed or exchanged are the ones held the longest.

     No redemption  fee will be charged on the  redemption or exchange of shares
(1) through  the Fund's Automatic  Withdrawal  Plan or Dreyfus  Auto-  Exchange
Privilege,  (2)  through  accounts  that are  reflected  on the  records  of the
Transfer Agent as omnibus accounts approved by Dreyfus Service Corporation,  (3)
through  accounts  established by securities  dealers,  banks or other financial
institutions  approved by Dreyfus Service  Corporation that utilize the National
Securities Clearing Corporation's networking system, or (4) acquired through the
reinvestment of dividends or capital gains distributions. The redemption fee may
be waived, modified or terminated at any time.




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