January 29, 1998
THE DREYFUS/LAUREL FUNDS, INC._
DREYFUS INTERNATIONAL EQUITY
ALLOCATION FUND
SUPPLEMENT TO PROSPECTUS
DATED MARCH 1, 1997
At a meeting of the Board of Directors of The Dreyfus/Laurel Funds,
Inc. (the "Company") held on January 28, 1998, the Board approved, subject to
shareholder approval, an Agreement and Plan of Reorganization (the "Plan")
between the Company, on behalf of Dreyfus International Equity Allocation
Fund (the "Acquired Fund"), and the Dreyfus Index Funds, Inc., on behalf of
Dreyfus International Stock Index Fund (the "Acquiring Fund"), a fund with an
investment objective similar to that of the Acquired Fund. The Plan provides
for the transfer of assets of the Acquired Fund to the Acquiring Fund, in a
tax free exchange for shares of common stock of the Acquiring Fund and the
assumption by the Acquiring Fund of liabilities of the Acquired Fund, the
distribution of shares of the Acquiring Fund to Acquired Fund shareholders
and the subsequent termination of the Acquired Fund (the "Reorganization").
It is currently contemplated that shareholders of the Acquired Fund
will be asked to approve the Plan at a special meeting of shareholders to be
held on or about June 9, 1998. If the Plan is approved, the Reorganization
will become effective on or about June 19, 1998. A Proxy Statement/
Prospectus with respect to the proposed Reorganization will be mailed to
Acquired Fund shareholders prior to the meeting. The Proxy
Statement/Prospectus will describe the Acquiring Fund and other matters.
323s0198
