DREYFUS DISCIPLINED EQUITY INCOME FUND
497, 2000-05-30
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                                                                    May 30, 2000

      THE DREYFUS/LAUREL FUNDS, INC. DREYFUS PREMIER SMALL CAP VALUE FUND

                           SUPPLEMENT TO PROSPECTUS

                              DATED MARCH 1, 2000

      THE  FOLLOWING  INFORMATION  SUPPLEMENTS  THE INFORMATION CONTAINED IN THE
SECTION  OF THE FUND'S PROSPECTUS ENTITLED "YOUR INVESTMENT -- SERVICES FOR FUND
INVESTORS."

Class B Shares -- Dreyfus Automatic Withdrawal Plan

      For  any  Fund  account  opened on or after July 24, 2000, or any existing
Fund  account to which the Dreyfus Automatic Withdrawal Plan ("AWP") is added on
or  after  July  24,  2000,  there  will  be  no CDSC on Class B shares redeemed
pursuant  to an AWP withdrawal, as long as the amount of the withdrawal does not
exceed  an annual rate of 12% of the greater of the account value at the time of
the  first  withdrawal  under  the  AWP, or the account value at the time of the
subsequent withdrawal.

                                                                       148s0500


                                                                    May 30, 2000


                         THE DREYFUS/LAUREL FUNDS, INC.
                      DREYFUS PREMIER SMALL CAP VALUE FUND

                Supplement to Statement of Additional Information
                               Dated March 1, 2000


     The following information supplements the information contained in the
section of the Fund's Statement of Additional Information entitled "Shareholder
Services - Automatic Withdrawal Plan."

Class B Shares - Automatic Withdrawal Plan

     For any Fund account opened on or after July 24, 2000, or any existing Fund
account to which the Automatic Withdrawal Plan ("AWP") is added on or after July
24, 2000, there will be no CDSC on Class B shares redeemed pursuant to an AWP
withdrawal, as long as the amount of the withdrawal does not exceed an annual
rate of 12% of the greater of the account value at the time of the first
withdrawal under the AWP, or the account value at the time of the subsequent
withdrawal. Withdrawals with respect to Class B shares under the AWP that exceed
such amounts will be subject to a CDSC.




                                                                  May 30, 2000

    THE DREYFUS/LAUREL FUNDS, INC. DREYFUS PREMIER TAX MANAGED GROWTH FUND

                           SUPPLEMENT TO PROSPECTUS

                              DATED MARCH 1, 2000

      THE  FOLLOWING  INFORMATION  SUPPLEMENTS  THE INFORMATION CONTAINED IN THE
SECTION  OF THE FUND'S PROSPECTUS ENTITLED "YOUR INVESTMENT -- SERVICES FOR FUND
INVESTORS."

Class B Shares -- Dreyfus Automatic Withdrawal Plan

      For  any  Fund  account  opened on or after July 24, 2000, or any existing
Fund  account to which the Dreyfus Automatic Withdrawal Plan ("AWP") is added on
or  after  July  24,  2000,  there  will  be  no CDSC on Class B shares redeemed
pursuant  to an AWP withdrawal, as long as the amount of the withdrawal does not
exceed  an annual rate of 12% of the greater of the account value at the time of
the  first  withdrawal  under  the  AWP, or the account value at the time of the
subsequent withdrawal.

                                                                       149s0500


                                                                    May 30, 2000


                         THE DREYFUS/LAUREL FUNDS, INC.
                     DREYFUS PREMIER TAX MANAGED GROWTH FUND

                Supplement to Statement of Additional Information
                               Dated March 1, 2000


     The following information supplements the information contained in the
section of the Fund's Statement of Additional Information entitled "Shareholder
Services - Automatic Withdrawal Plan."

Class B Shares - Automatic Withdrawal Plan

     For any Fund account opened on or after July 24, 2000, or any existing Fund
account to which the Automatic Withdrawal Plan ("AWP") is added on or after July
24, 2000, there will be no CDSC on Class B shares redeemed pursuant to an AWP
withdrawal, as long as the amount of the withdrawal does not exceed an annual
rate of 12% of the greater of the account value at the time of the first
withdrawal under the AWP, or the account value at the time of the subsequent
withdrawal. Withdrawals with respect to Class B shares under the AWP that exceed
such amounts will be subject to a CDSC.





                                                                    May 30, 2000

    THE DREYFUS/LAUREL FUNDS, INC. DREYFUS PREMIER LARGE COMPANY STOCK FUND

                           SUPPLEMENT TO PROSPECTUS

                              DATED MARCH 1, 2000

      THE  FOLLOWING  INFORMATION  SUPPLEMENTS  THE INFORMATION CONTAINED IN THE
SECTION  OF THE FUND'S PROSPECTUS ENTITLED "YOUR INVESTMENT -- SERVICES FOR FUND
INVESTORS."

Class B Shares -- Dreyfus Automatic Withdrawal Plan

      For  any  Fund  account  opened on or after July 24, 2000, or any existing
Fund  account to which the Dreyfus Automatic Withdrawal Plan ("AWP") is added on
or  after  July  24,  2000,  there  will  be  no CDSC on Class B shares redeemed
pursuant  to an AWP withdrawal, as long as the amount of the withdrawal does not
exceed  an annual rate of 12% of the greater of the account value at the time of
the  first  withdrawal  under  the  AWP, or the account value at the time of the
subsequent withdrawal.

                                                                       318s0500



                                                                    May 30, 2000



                         THE DREYFUS/LAUREL FUNDS, INC.
                    DREYFUS PREMIER LARGE COMPANY STOCK FUND

                Supplement to Statement of Additional Information
                               Dated March 1, 2000


     The following information supplements the information contained in the
section of the Fund's Statement of Additional Information entitled "Shareholder
Services - Automatic Withdrawal Plan."

Class B Shares - Automatic Withdrawal Plan

     For any Fund account opened on or after July 24, 2000, or any existing Fund
account to which the Automatic Withdrawal Plan ("AWP") is added on or after July
24, 2000, there will be no CDSC on Class B shares redeemed pursuant to an AWP
withdrawal, as long as the amount of the withdrawal does not exceed an annual
rate of 12% of the greater of the account value at the time of the first
withdrawal under the AWP, or the account value at the time of the subsequent
withdrawal. Withdrawals with respect to Class B shares under the AWP that exceed
such amounts will be subject to a CDSC.


                                                                    May 30, 2000

       THE DREYFUS/LAUREL FUNDS, INC. DREYFUS PREMIER MIDCAP STOCK FUND

                           SUPPLEMENT TO PROSPECTUS

                              DATED MARCH 1, 2000

      THE  FOLLOWING  INFORMATION  SUPPLEMENTS  THE INFORMATION CONTAINED IN THE
SECTION  OF THE FUND'S PROSPECTUS ENTITLED "YOUR INVESTMENT -- SERVICES FOR FUND
INVESTORS."

Class B Shares -- Dreyfus Automatic Withdrawal Plan

      For  any  Fund  account  opened on or after July 24, 2000, or any existing
Fund  account to which the Dreyfus Automatic Withdrawal Plan ("AWP") is added on
or  after  July  24,  2000,  there  will  be  no CDSC on Class B shares redeemed
pursuant  to an AWP withdrawal, as long as the amount of the withdrawal does not
exceed  an annual rate of 12% of the greater of the account value at the time of
the  first  withdrawal  under  the  AWP, or the account value at the time of the
subsequent withdrawal.

                                                                       330s0500

                                                                    May 30, 2000

                         THE DREYFUS/LAUREL FUNDS, INC.
                        DREYFUS PREMIER MIDCAP STOCK FUND

                Supplement to Statement of Additional Information
                               Dated March 1, 2000


     The following information supplements the information contained in the
section of the Fund's Statement of Additional Information entitled "Shareholder
Services - Automatic Withdrawal Plan."

Class B Shares - Automatic Withdrawal Plan

     For any Fund account opened on or after July 24, 2000, or any existing Fund
account to which the Automatic Withdrawal Plan ("AWP") is added on or after July
24, 2000, there will be no CDSC on Class B shares redeemed pursuant to an AWP
withdrawal, as long as the amount of the withdrawal does not exceed an annual
rate of 12% of the greater of the account value at the time of the first
withdrawal under the AWP, or the account value at the time of the subsequent
withdrawal. Withdrawals with respect to Class B shares under the AWP that exceed
such amounts will be subject to a CDSC.



                                                                    May 30, 2000

         THE DREYFUS/LAUREL FUNDS, INC. DREYFUS PREMIER BALANACED FUND

                           SUPPLEMENT TO PROSPECTUS

                              DATED MARCH 1, 2000

      THE  FOLLOWING  INFORMATION  SUPPLEMENTS  THE INFORMATION CONTAINED IN THE
SECTION  OF THE FUND'S PROSPECTUS ENTITLED "YOUR INVESTMENT -- SERVICES FOR FUND
INVESTORS."

Class B Shares -- Dreyfus Automatic Withdrawal Plan

      For  any  Fund  account  opened on or after July 24, 2000, or any existing
Fund  account to which the Dreyfus Automatic Withdrawal Plan ("AWP") is added on
or  after  July  24,  2000,  there  will  be  no CDSC on Class B shares redeemed
pursuant  to an AWP withdrawal, as long as the amount of the withdrawal does not
exceed  an annual rate of 12% of the greater of the account value at the time of
the  first  withdrawal  under  the  AWP, or the account value at the time of the
subsequent withdrawal.

                                                                       342s0500

                                                                    May 30, 2000

    THE DREYFUS/LAUREL FUNDS, INC. DREYFUS PREMIER LIMITED TERM INCOME FUND

                            SUPPLEMENT TO PROSPECTUS

                               DATED MARCH 1, 2000

      THE  FOLLOWING  INFORMATION  SUPPLEMENTS  THE INFORMATION CONTAINED IN THE
SECTION  OF THE FUND'S PROSPECTUS ENTITLED "YOUR INVESTMENT -- SERVICES FOR FUND
INVESTORS."

Class B Shares -- Dreyfus Automatic Withdrawal Plan

      For  any  Fund  account  opened on or after July 24, 2000, or any existing
Fund  account to which the Dreyfus Automatic Withdrawal Plan ("AWP") is added on
or  after  July  24,  2000,  there  will  be  no CDSC on Class B shares redeemed
pursuant  to an AWP withdrawal, as long as the amount of the withdrawal does not
exceed  an annual rate of 12% of the greater of the account value at the time of
the  first  withdrawal  under  the  AWP, or the account value at the time of the
subsequent withdrawal.

                                                                       345s0500




                                                                    May 30, 2000



                         THE DREYFUS/LAUREL FUNDS, INC.
                    DREYFUS PREMIER LIMITED TERM INCOME FUND
                          DREYFUS PREMIER BALANCED FUND


                Supplement to Statement of Additional Information
                               Dated March 1, 2000


     The following information supplements the information contained in the
section of the Fund's Statement of Additional Information entitled "Shareholder
Services - Automatic Withdrawal Plan."

Class B Shares - Automatic Withdrawal Plan

     For any Fund account opened on or after July 24, 2000, or any existing Fund
account to which the Automatic Withdrawal Plan ("AWP") is added on or after July
24, 2000, there will be no CDSC on Class B shares redeemed pursuant to an AWP
withdrawal, as long as the amount of the withdrawal does not exceed an annual
rate of 12% of the greater of the account value at the time of the first
withdrawal under the AWP, or the account value at the time of the subsequent
withdrawal. Withdrawals with respect to Class B shares under the AWP that exceed
such amounts will be subject to a CDSC.





                                                                    May 30, 2000

    THE DREYFUS/LAUREL FUNDS, INC. DREYFUS PREMIER SMALL COMPANY STOCK FUND

                           SUPPLEMENT TO PROSPECTUS

                              DATED MARCH 1, 2000

      THE  FOLLOWING  INFORMATION  SUPPLEMENTS  THE INFORMATION CONTAINED IN THE
SECTION  OF THE FUND'S PROSPECTUS ENTITLED "YOUR INVESTMENT -- SERVICES FOR FUND
INVESTORS."

Class B Shares -- Dreyfus Automatic Withdrawal Plan

      For  any  Fund  account  opened on or after July 24, 2000, or any existing
Fund  account to which the Dreyfus Automatic Withdrawal Plan ("AWP") is added on
or  after  July  24,  2000,  there  will  be  no CDSC on Class B shares redeemed
pursuant  to an AWP withdrawal, as long as the amount of the withdrawal does not
exceed  an annual rate of 12% of the greater of the account value at the time of
the  first  withdrawal  under  the  AWP, or the account value at the time of the
subsequent withdrawal.

                                                                       385s0500


                                                                    May 30, 2000



                         THE DREYFUS/LAUREL FUNDS, INC.
                    DREYFUS PREMIER SMALL COMPANY STOCK FUND

                Supplement to Statement of Additional Information
                               Dated March 1, 2000


     The following information supplements the information contained in the
section of the Fund's Statement of Additional Information entitled "Shareholder
Services - Automatic Withdrawal Plan."

Class B Shares - Automatic Withdrawal Plan

     For any Fund account opened on or after July 24, 2000, or any existing Fund
account to which the Automatic Withdrawal Plan ("AWP") is added on or after July
24, 2000, there will be no CDSC on Class B shares redeemed pursuant to an AWP
withdrawal, as long as the amount of the withdrawal does not exceed an annual
rate of 12% of the greater of the account value at the time of the first
withdrawal under the AWP, or the account value at the time of the subsequent
withdrawal. Withdrawals with respect to Class B shares under the AWP that exceed
such amounts will be subject to a CDSC.




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