July 1, 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 FUND'S PROSPECTUS.
Effective July 15, 1996, the Fund's Class R shares will be
redesignated as "Retail shares" and the Retail shares will be offered to any
investor. Also effective July 15, 1996, the Fund's Investor shares will be
redesignated as "Institutional shares" and the Institutional shares will be
offered only to clients of banks, securities brokers or dealers and other
financial institutions (collectively, "Agents") that have entered into a
Selling Agreement with the Fund's distributor and omnibus accounts held by
institutions that provide subaccounting or recordkeeping services to their
clients. You should consult your Agent to determine which class of shares
will be offered by the Agent. Unless the Fund is otherwise instructed, new
purchases or exchanges by existing shareholders will be in the same class of
shares that the shareholder then holds.
THE INFORMATION IN ITEMS I-IV BELOW WILL BECOME EFFECTIVE ON JULY 15,
1996. WITH REGARD TO ITEMS I-III BELOW, A SALES LOAD MAY BE CHARGED WITH
RESPECT TO EXCHANGES OF FUND SHARES INTO, OR INVESTMENTS IN, FUNDS SOLD WITH
A SALES LOAD. WITH REGARD TO ITEMS I AND II BELOW, WITH RESPECT TO RETAIL
SHARES OR INSTITUTIONAL SHARES HELD BY RETIREMENT PLANS, EXCHANGES MAY BE
MADE ONLY BETWEEN A SHAREHOLDER'S RETIREMENT PLAN ACCOUNT IN ONE FUND AND
SUCH SHAREHOLDER'S RETIREMENT PLAN ACCOUNT IN ANOTHER FUND.
I. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN
THE FIRST SENTENCE OF THE FIRST PARAGRAPH CONTAINED IN THE SECTION IN THE
FUND'S PROSPECTUS ENTITLED "SHAREHOLDER SERVICES -- FUND EXCHANGES."
You may purchase, in exchange for shares of a Class, shares of
certain other eligible funds managed or administered by Dreyfus, to the
extent such shares are offered for sale in your state of residence.
II. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "SHAREHOLDER
SERVICES -- DREYFUS AUTO-EXCHANGE PRIVILEGE."
Dreyfus Auto-Exchange Privilege enables you to invest regularly (on a
semi-monthly, monthly, quarterly or annual basis), in exchange for shares of
the Fund, in shares of certain other eligible funds in the Dreyfus Family of
Funds of which you are currently an investor.
III.THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE OF THE FIRST PARAGRAPH CONTAINED IN THE SECTION IN THE FUND'S
PROSPECTUS ENTITLED "SHAREHOLDER SERVICES -- DREYFUS DIVIDEND OPTIONS."
Dreyfus Dividend Sweep enables you to invest automatically dividends
or dividends and capital gain distributions, if any, paid by the Fund in
shares of certain other eligible funds in the Dreyfus Family of Funds of
which you are an investor.
(CONTINUED ON REVERSE SIDE)
IV. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "SHAREHOLDER
SERVICES -- DREYFUS STEP PROGRAM."
DreyfusStep Program enables you to purchase Retail shares without
regard to the Fund's minimum initial investment requirements through
Dreyfus-AUTOMATIC Asset Builder, Dreyfus Government Direct Deposit Privilege
or Dreyfus Payroll Savings Plan.
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.
323/723s070196
July 1, 1996
THE DREYFUS/LAUREL FUNDS, INC. --
DREYFUS DISCIPLINED EQUITY INCOME FUND
SUPPLEMENT TO PROSPECTUS
DATED MARCH 1, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE FUND'S PROSPECTUS.
Effective July 15, 1996, the Fund's Class R shares will be
redesignated as "Retail shares" and the Retail shares will be offered to any
investor. Also effective July 15, 1996, the Fund's Investor shares will be
redesignated as "Institutional shares" and the Institutional shares will be
offered only to clients of banks, securities brokers or dealers and other
financial institutions (collectively, "Agents") that have entered into a
Selling Agreement with the Fund's distributor and omnibus accounts held by
institutions that provide subaccounting or recordkeeping services to their
clients. You should consult your Agent to determine which class of shares
will be offered by the Agent. Unless the Fund is otherwise instructed, new
purchases or exchanges by existing shareholders will be in the same class of
shares that the shareholder then holds.
THE INFORMATION IN ITEMS I-IV BELOW WILL BECOME EFFECTIVE ON JULY 15,
1996. WITH REGARD TO ITEMS I-III BELOW, A SALES LOAD MAY BE CHARGED WITH
RESPECT TO EXCHANGES OF FUND SHARES INTO, OR INVESTMENTS IN, FUNDS SOLD WITH
A SALES LOAD. WITH REGARD TO ITEMS I AND II BELOW, WITH RESPECT TO RETAIL
SHARES OR INSTITUTIONAL SHARES HELD BY RETIREMENT PLANS, EXCHANGES MAY BE
MADE ONLY BETWEEN A SHAREHOLDER'S RETIREMENT PLAN ACCOUNT IN ONE FUND AND
SUCH SHAREHOLDER'S RETIREMENT PLAN ACCOUNT IN ANOTHER FUND.
(CONTINUED ON REVERSE SIDE)
I. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN
THE FIRST SENTENCE OF THE FIRST PARAGRAPH CONTAINED IN THE SECTION IN THE
FUND'S PROSPECTUS ENTITLED "SHAREHOLDER SERVICES -- FUND EXCHANGES."
You may purchase, in exchange for shares of a Class, shares of
certain other eligible funds managed or administered by Dreyfus, to the
extent such shares offered for sale in your state of residence.
II. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "SHAREHOLDER
SERVICES -- DREYFUS AUTO-EXCHANGE PRIVILEGE."
Dreyfus Auto-Exchange Privilege enables you to invest regularly (on a
semi-monthly, monthly, quarterly or annual basis), in exchange for shares of
the Fund, in shares of certain other eligible funds in the Dreyfus Family of
Funds of which you are currently an investor.
III.THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE OF THE FIRST PARAGRAPH CONTAINED IN THE SECTION IN THE FUND'S
PROSPECTUS ENTITLED "SHAREHOLDER SERVICES -- DREYFUS DIVIDEND OPTIONS."
Dreyfus Dividend Sweep enables you to invest automatically dividends
or dividends and capital gain distributions, if any, paid by the Fund in
shares of certain other eligible funds in the Dreyfus Family of Funds of
which you are an investor.
IV. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "SHAREHOLDER
SERVICES -- DREYFUS STEP PROGRAM."
DreyfusStep Program enables you to purchase Retail shares without
regard to the Fund's minimum initial investment requirements through
Dreyfus-A UTOMATIC Asset Builder, Dreyfus Government Direct Deposit Privilege
or Dreyfus Payroll Savings Plan.
318/718s070196
July 1, 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.
Effective July 15, 1996, the Fund's Class R shares will be
redesignated as "Retail shares" and the Retail shares will be offered to any
investor. Also effective July 15, 1996, the Fund's Investor shares will be
redesignated as "Institutional shares" and the Institutional shares will be
offered only to clients of banks, securities brokers or dealers and other
financial institutions (collectively, "Agents") that have entered into a
Selling Agreement with the Fund's distributor and omnibus accounts held by
institutions that provide subaccounting or recordkeeping services to their
clients. You should consult your Agent to determine which class of shares
will be offered by the Agent. Unless the Fund is otherwise instructed, new
purchases or exchanges by existing shareholders will be in the same class of
shares that the shareholder then holds.
THE INFORMATION IN ITEMS I-IV BELOW WILL BECOME EFFECTIVE ON JULY 15,
1996. WITH REGARD TO ITEMS I-III BELOW, A SALES LOAD MAY BE CHARGED WITH
RESPECT TO EXCHANGES OF FUND SHARES INTO, OR INVESTMENTS IN, FUNDS SOLD WITH
A SALES LOAD. WITH REGARD TO ITEMS I AND II BELOW, WITH RESPECT TO RETAIL
SHARES OR INSTITUTIONAL SHARES HELD BY RETIREMENT PLANS, EXCHANGES MAY BE
MADE ONLY BETWEEN A SHAREHOLDER'S RETIREMENT PLAN ACCOUNT IN ONE FUND AND
SUCH SHAREHOLDER'S RETIREMENT PLAN ACCOUNT IN ANOTHER FUND.
(CONTINUED ON REVERSE SIDE)
I. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN
THE FIRST SENTENCE OF THE FIRST PARAGRAPH CONTAINED IN THE SECTION IN THE
FUND'S PROSPECTUS ENTITLED "SHAREHOLDER SERVICES -- FUND EXCHANGES."
You may purchase, in exchange for shares of a Class, shares of
certain other eligible funds managed or administered by Dreyfus, to the
extent such shares offered for sale in your state of residence.
II. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "SHAREHOLDER
SERVICES -- DREYFUS AUTO-EXCHANGE PRIVILEGE."
Dreyfus Auto-Exchange Privilege enables you to invest regularly (on a
semi-monthly, monthly, quarterly or annual basis), in exchange for shares of
the Fund, in shares of certain other eligible funds in the Dreyfus Family of
Funds of which you are currently an investor.
III.THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE OF THE FIRST PARAGRAPH CONTAINED IN THE SECTION IN THE FUND'S
PROSPECTUS ENTITLED "SHAREHOLDER SERVICES -- DREYFUS DIVIDEND OPTIONS."
Dreyfus Dividend Sweep enables you to invest automatically dividends
or dividends and capital gain distributions, if any, paid by the Fund in
shares of certain other eligible funds in the Dreyfus Family of Funds of
which you are an investor.
IV. THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES THE INFORMATION IN THE
FIRST SENTENCE IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "SHAREHOLDER
SERVICES -- DREYFUS STEP PROGRAM."
DreyfusStep Program enables you to purchase Retail shares without
regard to the Fund's minimum initial investment requirements through
Dreyfus-AUTOMATIC Asset Builder, Dreyfus Government Direct Deposit Privilege
or Dreyfus Payroll Savings Plan.
330/730s070196
