DREYFUS VARIABLE INVESTMENT FUND
NSAR-B, 1997-02-28
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<PAGE>      PAGE  1
000 B000000 12/31/96
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000 D000000 N
000 E000000 NF
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001 A000000 DREYFUS VARIABLE INVESTMENT FUND
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  14
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<PAGE>      PAGE  17
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<PAGE>      PAGE  19
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015 A000501 MELLON BANK, N.A.
015 B000501 C
015 C010501 PITTSBURGH
015 C020501 PA
015 C030501 15258
015 E030501 X
024  000500 N
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056  000500 N
057  000500 N
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<PAGE>      PAGE  20
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070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 Y
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 Y
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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015 A000601 MELLON BANK, N.A.
015 B000601 C
015 C010601 PITTSBURGH
015 C020601 PA
015 C030601 15258
015 E030601 X
024  000600 Y
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025 B000602 13-2650272
025 C000602 E
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<PAGE>      PAGE  23
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056  000600 N
057  000600 N
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070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
<PAGE>      PAGE  24
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 N
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070 L020600 Y
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070 O010600 Y
070 O020600 N
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070 Q020600 N
070 R010600 N
070 R020600 N
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<PAGE>      PAGE  25
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015 A000701 MELLON BANK, N.A.
015 B000701 C
015 C010701 PITTSBURGH
015 C020701 PA
015 C030701 15258
015 E030701 X
<PAGE>      PAGE  26
024  000700 N
025 A000701 DELETE
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<PAGE>      PAGE  27
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070 O020700 N
<PAGE>      PAGE  28
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<PAGE>      PAGE  29
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015 A000801 THE BANK OF NEW YORK
015 B000801 C
015 C010801 NEW YORK
015 C020801 NY
015 C030801 10286
015 E010801 X
024  000800 N
025 A000801 DELETE
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<PAGE>      PAGE  30
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070 A010800 Y
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070 C020800 N
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070 D020800 N
070 E010800 Y
070 E020800 N
<PAGE>      PAGE  31
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
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070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 N
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070 L020800 Y
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070 M020800 Y
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070 N020800 N
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070 O020800 Y
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070 Q020800 N
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070 R020800 N
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<PAGE>      PAGE  32
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015 A000901 MELLON BANK, N.A.
015 B000901 C
<PAGE>      PAGE  33
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015 C020901 PA
015 C030901 15258
015 E030901 X
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<PAGE>      PAGE  34
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066 D000900 N
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068 A000900 N
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069  000900 N
070 A010900 Y
070 A020900 N
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070 B020900 N
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070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 N
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070 F010900 Y
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
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070 I020900 N
070 J010900 Y
070 J020900 N
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070 K020900 N
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070 L020900 N
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070 M020900 N
070 N010900 Y
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070 O010900 Y
070 O020900 Y
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070 Q020900 N
070 R010900 N
<PAGE>      PAGE  35
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<PAGE>      PAGE  36
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015 A001001 THE BANK OF NEW YORK
015 B001001 C
015 C011001 NEW YORK
015 C021001 NY
015 C031001 10286
015 E011001 X
024  001000 Y
025 A001001 HBSC SECURITIES, INC.
025 B001001 13-2650272
025 C001001 E
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<PAGE>      PAGE  37
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066 A001000 Y
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066 E001000 N
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066 G001000 N
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<PAGE>      PAGE  38
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070 D021000 N
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070 F011000 Y
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070 G011000 N
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070 H021000 N
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<PAGE>      PAGE  39
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<PAGE>      PAGE  40
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015 A001101 MELLON BANK, N.A.
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<PAGE>      PAGE  41
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<PAGE>      PAGE  42
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<PAGE>      PAGE  43
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<PAGE>      PAGE  44
076  001100     0.00
SIGNATURE   DOUGLAS C. CONROY                            
TITLE       ASSISTANT TREASURER 
 


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<CIK> 0000813383
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</TABLE>

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</TABLE>

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<CIK> 0000813383
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</TABLE>

<TABLE> <S> <C>

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   <NAME> ZERO COUPON 2000 PORTFOLIO
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</TABLE>

<TABLE> <S> <C>

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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000813383
<NAME> DREYFUS VARIABLE INVESTMENT FUND
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<PAID-IN-CAPITAL-COMMON>                        794615
<SHARES-COMMON-STOCK>                            18441
<SHARES-COMMON-PRIOR>                            11778
<ACCUMULATED-NII-CURRENT>                            2
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (1325)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        167073
<NET-ASSETS>                                    960365
<DIVIDEND-INCOME>                                 4471
<INTEREST-INCOME>                                 3434
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    6082
<NET-INVESTMENT-INCOME>                           1823
<REALIZED-GAINS-CURRENT>                         23021
<APPREC-INCREASE-CURRENT>                        90570
<NET-CHANGE-FROM-OPS>                           115414
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (1788)
<DISTRIBUTIONS-OF-GAINS>                       (28039)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           6865
<NUMBER-OF-SHARES-REDEEMED>                      (780)
<SHARES-REINVESTED>                                579
<NET-CHANGE-IN-ASSETS>                          417084
<ACCUMULATED-NII-PRIOR>                           (33)
<ACCUMULATED-GAINS-PRIOR>                         3694
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             5767
<INTEREST-EXPENSE>                                   1
<GROSS-EXPENSE>                                   6082
<AVERAGE-NET-ASSETS>                            768921
<PER-SHARE-NAV-BEGIN>                            46.13
<PER-SHARE-NII>                                    .10
<PER-SHARE-GAIN-APPREC>                           7.53
<PER-SHARE-DIVIDEND>                             (.10)
<PER-SHARE-DISTRIBUTIONS>                       (1.58)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              52.08
<EXPENSE-RATIO>                                   .008
<AVG-DEBT-OUTSTANDING>                              12
<AVG-DEBT-PER-SHARE>                              .001
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000813383
<NAME> DREYFUS VARIABLE INVESTMENT FUND
<SERIES>
   <NUMBER> 06
   <NAME> CAPITAL APPRECIATION PORTFOLIO
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                            81747
<INVESTMENTS-AT-VALUE>                          104889
<RECEIVABLES>                                      150
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  105039
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1294
<TOTAL-LIABILITIES>                               1294
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         80572
<SHARES-COMMON-STOCK>                             4720
<SHARES-COMMON-PRIOR>                             2650
<ACCUMULATED-NII-CURRENT>                            8
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             22
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         23143
<NET-ASSETS>                                    103745
<DIVIDEND-INCOME>                                 1512
<INTEREST-INCOME>                                  157
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     609
<NET-INVESTMENT-INCOME>                           1060
<REALIZED-GAINS-CURRENT>                           161
<APPREC-INCREASE-CURRENT>                        15413
<NET-CHANGE-FROM-OPS>                            16634
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (1035)
<DISTRIBUTIONS-OF-GAINS>                         (129)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           2451
<NUMBER-OF-SHARES-REDEEMED>                      (434)
<SHARES-REINVESTED>                                 53
<NET-CHANGE-IN-ASSETS>                           56815
<ACCUMULATED-NII-PRIOR>                              2
<ACCUMULATED-GAINS-PRIOR>                         (11)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              399
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    609
<AVERAGE-NET-ASSETS>                             72500
<PER-SHARE-NAV-BEGIN>                            17.71
<PER-SHARE-NII>                                    .23
<PER-SHARE-GAIN-APPREC>                           4.30
<PER-SHARE-DIVIDEND>                             (.23)
<PER-SHARE-DISTRIBUTIONS>                        (.03)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              21.98
<EXPENSE-RATIO>                                   .008
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000813383
<NAME> DREYFUS VARIABLE INVESTMENT FUND
<SERIES>
   <NUMBER> 07
   <NAME> GROWTH AND INCOME PORTFOLIO
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           223973
<INVESTMENTS-AT-VALUE>                          226380
<RECEIVABLES>                                    10640
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  237020
<PAYABLE-FOR-SECURITIES>                          9824
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1261
<TOTAL-LIABILITIES>                              11085
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        221552
<SHARES-COMMON-STOCK>                            11556
<SHARES-COMMON-PRIOR>                             3883
<ACCUMULATED-NII-CURRENT>                          181
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           1794
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          2408
<NET-ASSETS>                                    225935
<DIVIDEND-INCOME>                                 2439
<INTEREST-INCOME>                                 1796
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    1261
<NET-INVESTMENT-INCOME>                           2974
<REALIZED-GAINS-CURRENT>                         22640
<APPREC-INCREASE-CURRENT>                       (2606)
<NET-CHANGE-FROM-OPS>                            23008
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (2817)
<DISTRIBUTIONS-OF-GAINS>                       (22301)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           6920
<NUMBER-OF-SHARES-REDEEMED>                      (518)
<SHARES-REINVESTED>                               1271
<NET-CHANGE-IN-ASSETS>                          154774
<ACCUMULATED-NII-PRIOR>                             25
<ACCUMULATED-GAINS-PRIOR>                         1456
<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-ADVISORY-FEES>                             1136
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   1261
<AVERAGE-NET-ASSETS>                            151466
<PER-SHARE-NAV-BEGIN>                            18.33
<PER-SHARE-NII>                                    .36
<PER-SHARE-GAIN-APPREC>                           3.43
<PER-SHARE-DIVIDEND>                             (.35)
<PER-SHARE-DISTRIBUTIONS>                       (2.22)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.55
<EXPENSE-RATIO>                                   .008
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000813383
<NAME> DREYFUS VARIABLE INVESTMENT FUND
<SERIES>
   <NUMBER> 08
   <NAME> INTERNATIONAL EQUITY PORTFOLIO
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                            23618
<INVESTMENTS-AT-VALUE>                           24666
<RECEIVABLES>                                       57
<ASSETS-OTHER>                                     177
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         23466
<SHARES-COMMON-STOCK>                             1770
<SHARES-COMMON-PRIOR>                              598
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            100
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           988
<NET-ASSETS>                                     24355
<DIVIDEND-INCOME>                                  302
<INTEREST-INCOME>                                   81
<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                            160
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<APPREC-INCREASE-CURRENT>                          666
<NET-CHANGE-FROM-OPS>                             1250
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (155)
<DISTRIBUTIONS-OF-GAINS>                         (775)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           1298
<NUMBER-OF-SHARES-REDEEMED>                      (195)
<SHARES-REINVESTED>                                 68
<NET-CHANGE-IN-ASSETS>                           16682
<ACCUMULATED-NII-PRIOR>                            (5)
<ACCUMULATED-GAINS-PRIOR>                            8
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              131
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    223
<AVERAGE-NET-ASSETS>                             17416
<PER-SHARE-NAV-BEGIN>                            12.82
<PER-SHARE-NII>                                    .10
<PER-SHARE-GAIN-APPREC>                           1.38
<PER-SHARE-DIVIDEND>                             (.09)
<PER-SHARE-DISTRIBUTIONS>                        (.45)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.76
<EXPENSE-RATIO>                                   .013
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000813383
<NAME> DREYFUS VARIABLE INVESTMENT FUND
<SERIES>
   <NUMBER> 09
   <NAME> SMALL COMPANY STOCK PORTFOLIO
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                             7115
<INVESTMENTS-AT-VALUE>                            7674
<RECEIVABLES>                                        6
<ASSETS-OTHER>                                     493
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    8173
<PAYABLE-FOR-SECURITIES>                             7
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           18
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                              602
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              9
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           559
<NET-ASSETS>                                      8148
<DIVIDEND-INCOME>                                   47
<INTEREST-INCOME>                                   35
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<EXPENSES-NET>                                      54
<NET-INVESTMENT-INCOME>                             28
<REALIZED-GAINS-CURRENT>                            15
<APPREC-INCREASE-CURRENT>                          559
<NET-CHANGE-FROM-OPS>                              602
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         (29)
<DISTRIBUTIONS-OF-GAINS>                           (4)
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<NUMBER-OF-SHARES-SOLD>                           1107
<NUMBER-OF-SHARES-REDEEMED>                      (508)
<SHARES-REINVESTED>                                  3
<NET-CHANGE-IN-ASSETS>                            8148
<ACCUMULATED-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     68
<AVERAGE-NET-ASSETS>                              7239
<PER-SHARE-NAV-BEGIN>                            12.50
<PER-SHARE-NII>                                    .05
<PER-SHARE-GAIN-APPREC>                           1.03
<PER-SHARE-DIVIDEND>                             (.05)
<PER-SHARE-DISTRIBUTIONS>                        (.01)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.52
<EXPENSE-RATIO>                                   .008
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000813383
<NAME> DREYFUS VARIABLE INVESTMENT FUND
<SERIES>
   <NUMBER> 10
   <NAME> INTERNATIONAL VALUE PORTFOLIO
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                             7561
<INVESTMENTS-AT-VALUE>                            7754
<RECEIVABLES>                                        8
<ASSETS-OTHER>                                     477
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    8239
<PAYABLE-FOR-SECURITIES>                           194
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           18
<TOTAL-LIABILITIES>                                212
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          7816
<SHARES-COMMON-STOCK>                              627
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             18
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           193
<NET-ASSETS>                                      8027
<DIVIDEND-INCOME>                                   92
<INTEREST-INCOME>                                   21
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      65
<NET-INVESTMENT-INCOME>                             48
<REALIZED-GAINS-CURRENT>                            45
<APPREC-INCREASE-CURRENT>                          193
<NET-CHANGE-FROM-OPS>                              286
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         (48)
<DISTRIBUTIONS-OF-GAINS>                          (27)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            646
<NUMBER-OF-SHARES-REDEEMED>                       (25)
<SHARES-REINVESTED>                                  6
<NET-CHANGE-IN-ASSETS>                            8027
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     86
<AVERAGE-NET-ASSETS>                              6408
<PER-SHARE-NAV-BEGIN>                            12.50
<PER-SHARE-NII>                                    .08
<PER-SHARE-GAIN-APPREC>                            .34
<PER-SHARE-DIVIDEND>                             (.08)
<PER-SHARE-DISTRIBUTIONS>                        (.04)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.80
<EXPENSE-RATIO>                                   .010
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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