July 12, 1996
THE DREYFUS/LAUREL FUNDS, INC. -
DREYFUS DISCIPLINED MIDCAP STOCK FUND
Supplement to Prospectus
Dated March 1, 1996
The following information supplements and supersedes any
contrary information contained in the Fund's Prospectus.
As a result of the modifications to the Fund's share class
eligibility, which will become effective as of July 15, 1996, as described
in the supplement to the Fund's Prospectus dated July 1, 1996, and because
there currently is no other distinction between the Fund's share classes
except that Investor/Institutional shares, but not Class R/Retail shares,
are subject to a .25% 12b-1 fee, Institutional class shareholders will be
eligible to exchange their Institutional shares for Retail shares on a
one-time basis on or about August 23, 1996, in accordance with the terms
provided to such shareholders by the Fund. Institutional class
shareholders should consult their tax advisors as to whether they would
incur a recognizable gain or loss for purposes of computing their federal,
state or local income tax in connection with such an exchange. The Fund
does not intend to treat the exchange as a transaction resulting in
recognizable gain or loss for federal income tax purposes. Institutional
class shareholders should contact their Agent, as applicable, to determine
what services, if any, will be provided to them following an exchange to
Retail shares. The Fund makes no recommendation about whether a
particular holder of Institutional shares should make an exchange, but
urges each holder to make his or her own decision taking the foregoing
facts into account.
