July 18, 1997
DREYFUS VARIABLE INVESTMENT FUND
SUPPLEMENT TO PROSPECTUS
DATED MAY 1, 1997
INTERNATIONAL EQUITY PORTFOLIO ONLY
THE FOLLOWING INFORMATION SUPPLEMENTS THE INFORMATION IN THE FUND'S
PROSPECTUS UNDER THE CAPTION "INVESTMENT OBJECTIVES AND MANAGEMENT POLICIES
_ INTERNATIONAL EQUITY PORTFOLIO."
The Series may invest without restriction in companies in, or
governments of, developing countries.
GROWTH AND INCOME PORTFOLIO ONLY
THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION
CONTAINED IN THE FUND'S PROSPECTUS:
The Series' primary portfolio manager is Douglas D. Ramos. He has
held that position and has been employed by The Dreyfus Corporation, since
July 1997. Prior to joining The Dreyfus Corporation, Mr. Ramos was employed
by Loomis, Sayles & Company, L.P., most recently serving as a Senior Partner
and Investment Counselor.
VIFs071897
July 18, 1997
DREYFUS VARIABLE INVESTMENT FUND _
GROWTH AND INCOME PORTFOLIO
SUPPLEMENT TO PROSPECTUS
DATED MAY 1, 1997
THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION
CONTAINED IN THE FUND'S PROSPECTUS:
The Series' primary portfolio manager is Douglas D. Ramos. He has
held that position and has been employed by The Dreyfus Corporation, since
July 1997. Prior to joining The Dreyfus Corporation, Mr. Ramos was employed
by Loomis, Sayles & Company, L.P., most recently serving as a Senior Partner
and Investment Counselor.
108s071897
