March 30, 2000
THE DREYFUS/LAUREL FUNDS, INC.
DREYFUS PREMIER BALANCED FUND
DREYFUS PREMIER LIMITED TERM INCOME FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
March 1, 2000
THE FOLLOWING INFORMATION REPLACES ALL CONTRARY INFORMATION CONTAINED IN
THE SECTIONS OF THE STATEMENT OF ADDITIONAL INFORMATION ("SAI") ENTITLED
"DESCRIPTION OF THE FUND/COMPANY," "MANAGEMENT OF THE FUNDS" AND "MANAGEMENT
ARRANGEMENTS:"
Effective March 22, 2000, Dreyfus Service Corporation ("DSC") became the
distributor to the Funds. DSC is located at 200 Park Avenue, New York, NY 10166.
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THE FOLLOWING INFORMATION REPLACES THE INFORMATION CONTAINED IN THE SECTION
OF THE SAI ENTITLED "MANAGEMENT OF THE FUNDS - OFFICERS OF THE COMPANY:"
Stephen E. Canter, President. President, Chief Operating Officer, and Chief
Investment Officer of Dreyfus, and an officer of other investment companies
advised and administered by Dreyfus. Mr. Canter also is a Director or an
Executive Committee Member of the other investment management subsidiaries
of Mellon Financial Corporation, each of which is an affiliate of Dreyfus.
He is 54 years old.
Mark N. Jacobs, Vice President. Vice President, Secretary, and General Counsel
to Dreyfus, and an officer of other investment companies advised and
administered by Dreyfus. He is 53 years old.
Joseph Connolly, Vice President and Treasurer. Director - Mutual Fund Accounting
of Dreyfus, and an officer of other investment companies advised and
administered by Dreyfus. He is 42 years old.
Steven F. Newman, Secretary. Associate General Counsel and Assistant Secretary
of Dreyfus, and an officer of other investment companies advised and
administered by Dreyfus. He is 50 years old.
Jeff Prusnofsky, Assistant Secretary. Assistant General Counsel of Dreyfus, and
an officer of other investment companies advised and administered by
Dreyfus. He is 34 years old.
Michael A. Rosenberg, Assistant Secretary. Associate General Counsel of Dreyfus,
and an officer of other investment companies advised and administered by
Dreyfus. He is 40 years old.
Michael Condon, Assistant Treasurer. Senior Treasury Manager of Dreyfus, and an
officer of other investment companies advised and administered by Dreyfus.
He is 38 years old.
William McDowell, Assistant Treasurer. Senior Accounting Manager - Taxable Fixed
Income of Dreyfus, and an officer of other investment companies advised and
administered by Dreyfus. He is 41 years old.
James Windels, Assistant Treasurer. Senior Treasury Manager of Dreyfus, and an
officer of other investment companies advised and administered by Dreyfus.
He is 41 years old.
The address of each Fund officer is 200 Park Avenue, New York, NY 10166.
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THE FOLLOWING INFORMATION SUPPLEMENTS THE INFORMATION CONTAINED IN THE
SECTION OF THE SAI ENTITLED "MANAGEMENT ARRANGEMENTS - THE DISTRIBUTOR:"
Disclosure of the amounts retained by "the Distributor" on the sale of
shares of the Funds refers to amounts retained by Premier Mutual Fund Services,
Inc. ("Premier"), each Fund's distributor prior to March 22, 2000. No
information is provided for DSC, as it was not the Funds' distributor as of the
Funds' last fiscal year end.
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The clause "Pursuant to an agreement with the Distributor" hereby is
deleted in the following sections of the SAI: (i) the third sentence of the
sixth paragraph of the section of the SAI entitled "Purchase of Shares- Class A
Shares;" (ii) the third sentence of the second paragraph of the section entitled
"Purchase of Shares- Class T Shares (Balanced Fund only)"; and (iii) the first
sentence of the section entitled "Purchase of Shares - Class B and C Shares."
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THE FOLLOWING INFORMATION SUPPLEMENTS AND REPLACES ALL CONTRARY INFORMATION
CONTAINED IN THE SECTION OF THE SAI ENTITLED "DISTRIBUTION AND SERVICE PLANS":
Coincident with the transfer of distribution responsibilities from Premier
to DSC, the Company's Board adopted amendments to each Fund's Distribution Plan,
with respect to Class A shares (the "Class A Plan"), and Service Plan, with
respect to Class B, Class C and, with respect to the Dreyfus Premier Balanced
Fund, Class T shares (the "Service Plan") (together with the Class A Plan, the
"Plans"), to remove the inconsistency of the Plans' reference to both DSC and
the "Distributor" in the alternative, and to make other non-material changes to
update the Plans. The Class A Plan also was amended to expressly provide that
Mellon Bank N.A. and other affiliates may be paid directly under the Class A
Plan for shareholder services they provide. There was no change to the amount
payable under the Plans or to any other material terms of the Plans. The amended
Class A Plan provides that Mellon Bank, N.A and/or any of its affiliates are
entitled to payment with respect to shareholder servicing services and the
Distributor (DSC) is entitled to payment with respect to distribution and
shareholder servicing services. The amended Service Plan provides that DSC,
and/or any of its affiliates, are entitled to payment for providing certain
services to shareholders of the Funds. There were no changes made to the Funds'
Distribution Plan, with respect to their Class B and Class C Shares, or to the
Dreyfus Premier Balanced Fund's Distribution Plan, with respect to its Class T
Shares.
