DREYFUS VARIABLE INVESTMENT FUND
497, 1995-03-03
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                                                               March 1, 1995


                          DREYFUS VARIABLE INVESTMENT FUND
                Supplement to the Statement of Additional Information
                               Dated November 15, 1994


      The following information supplements and should be read in
conjunction with the section in the Fund's Statement of Additional
Information captioned "Yield and Performance Information."

      From time to time, the Fund may advertise that Thomas A. Frank was
awarded "1994 Variable Fund Manager of the Year" by Morningstar, Inc. for
managing the Fund's Small Cap Portfolio.














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