September 13, 1996
THE DREYFUS/LAUREL FUNDS, INC.--
PREMIER SMALL COMPANY STOCK FUND
SUPPLEMENT TO PROSPECTUS
DATED MARCH 1, 1996
THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES ANY CONTRARY
INFORMATION CONTAINED IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "HOW
TO BUY FUND SHARES -- CLASS A SHARES."
Effective immediately, a CDSC of 1% will be assessed at the time of
redemption of Class A shares purchased without an initial sales charge as
part of an investment of at least $1,000,000 and redeemed within one year of
purchase.
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.
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