April 26, 1996
THE DREYFUS/LAUREL FUNDS, INC. -
DREYFUS EUROPEAN FUND
Supplement to Prospectus
Dated March 1, 1996
At a meeting of the Board of Directors held on April 25,
1996, the Board approved a proposal to liquidate the Fund, distribute Fund
assets to Fund shareholders and close out shareholder accounts (the
"Proposal"). Shareholders of the Fund will consider approving the
Proposal at a Special Meeting of Shareholders to be held on or about June
5, 1996. If Fund shareholders approve the Proposal, the liquidation and
distribution of Fund assets would occur on or about June 14, 1996. In
anticipation of such events, effective May 2, 1996, the Fund will be
closed to any new or subsequent investments.
April 26, 1996
THE DREYFUS/LAUREL FUNDS, INC. -
DREYFUS INTERNATIONAL EQUITY ALLOCATION FUND
Supplement to Prospectus
Dated March 1, 1996
The following information supplements and supersedes any contrary
information contained in the Prospectus.
At a meeting of the Board of Directors held on April 25, 1996, the
Board approved the termination of the Investment Sub-Advisory Agreement
among S.A.M. Finance, S.A., The Dreyfus/Laurel Funds, Inc. (the
"Company"), on behalf of Dreyfus International Equity Allocation Fund (the
"Fund"), and The Dreyfus Corporation ("Dreyfus"), which will result in
Dreyfus taking over day-to-day portfolio management responsibility for the
Fund pursuant to the Investment Management Agreement between the Company,
on behalf of the Fund, and Dreyfus (the "Management Agreement"). The
Board also approved a change from an "active" stock selection process to a
"passive" stock selection process for the Fund. The same country and
currency allocation models will continue to be used for the Fund.
Finally, as a result of the change from an "active" to "passive" stock
selection process, the Board approved amending the Management Agreement to
provide for a reduction in the management fee payable by the Fund to
Dreyfus from 1.50 of 1% to 1.25 of 1% of the Fund's average daily net
assets. Each of these changes will become effective on or about July 15,
1996.
