May 28, 1996
THE DREYFUS/LAUREL FUNDS, INC. -
PREMIER SMALL COMPANY STOCK FUND
Supplement to Prospectus Dated
March 1, 1996
The following information supersedes and replaces the third
paragraph in the section in the Fund's Prospectus entitled "Management of
the Fund - Investment Manager":
The Fund is managed by two portfolio managers, James
Wadsworth and Anthony Galise. Each individual is employed by Dreyfus as a
portfolio manager for the Fund.
Mr. Wadsworth has managed the Fund since its commencement
of operations and has been Chief Investment Officer for Laurel Capital
Advisors since October 1990. Mr. Wadsworth also is a First Vice President
for Mellon Bank, where he has been employed since 1977.
Anthony Galise is a Vice President and Senior Equity
Analyst at Mellon Bank. He also is a member of the Boston and Pittsburgh
Societies of Financial Analysts. Mr. Galise joined Mellon Bank in 1993.
Prior thereto, he was a Vice President for Alta Energy Corporation. Mr.
Galise is a CFA and holds a B.A. in history and an M.B.A. in finance from
Suffolk University.
