Rule 497(e)
File Nos.
33-40771
and
811-5502
December 15, 1995
COMSTOCK PARTNERS STRATEGY FUND
(a Dreyfus-associated fund)
Supplement to Statement of Additional Information
Dated August 1, 1995
The following information supplements or replaces the relevant
information contained in the following indicated sections of the Fund's
Statement of Additional Information:
PURCHASE OF FUND SHARES
Dreyfus TeleTransfer Privilege: Dreyfus TeleTransfer purchase orders
may be made at any time. Purchase orders received by 4:00 P.M., New York time,
on any business day that Dreyfus Transfer, Inc., the Fund's transfer and
dividend disbursing agent (the "Transfer Agent"), and the New York Stock
Exchange are open for business will be credited to the shareholder's Fund
account on the next bank business day following such purchase order. Purchase
orders made after 4:00 P.M., New York time, on any business day the Transfer
Agent and the New York Stock Exchange are open for business, or orders made on
Saturday, Sunday or any Fund holiday (e.g., when the New York Stock Exchange is
not open for business), will be credited to the shareholder's Fund account on
the second bank business day following such purchase order. To qualify to use
the Dreyfus TeleTransfer Privilege, payments for purchase of Fund shares must
be drawn on, and redemption proceeds paid to, the same bank and account as is
designated on the Account Application and Shareholder Services Form on file.
If the proceeds of a particular redemption are to be wired to an account at any
other bank, the request must be in writing and signature-guaranteed. See
"Redemption of Fund Shares--Stock Certificates; Signatures."
TRANSFER AGENT AND DIVIDEND DISBURSING AGENT
Dreyfus Transfer, Inc., a wholly owned subsidiary of the Sub-
Investment Advisor, is located at One American Express Plaza, Providence, Rhode
Island 02903, and serves as the Fund's transfer and dividend disbursing agent.
Under a transfer agency agreement with the Fund, the Transfer Agent arranges
for the maintenance of shareholders account records for the Fund, the handling
of certain communications between shareholders and the Fund and the payment of
dividends and distributions payable by the Fund. For these services, the
Transfer Agent receives a monthly fee computed on the basis of the number of
shareholder accounts it maintains for the Fund during the month, and is
reimbursed for certain out-of-pocket expenses. The Transfer Agent has no part
in determining the investment policies of the Fund or which securities are to
be purchased or sold by the Fund.
<PAGE>
Rule 497(e)
File Nos.
33-40771
and
811-5502
December 15, 1995
COMSTOCK PARTNERS STRATEGY FUND
(a Dreyfus-associated fund)
Supplement to Prospectus
Dated August 1, 1995
The following information supplements or replaces the relevant
information contained in the sections of the Fund's Prospectus entitled
"Prospectus Summary--Purchase of Shares," "Purchase of Fund Shares,"
"Additional Shareholder Services," "Redemption of Shares," "Net Asset Value,"
and "Transfer Agent and Dividend Disbursing Agent":
Dreyfus Transfer, Inc., a wholly-owned subsidiary of The Dreyfus
Corporation, is located at One American Express Plaza, Providence, Rhode Island
02903, and serves as the Fund's Transfer and Dividend Disbursing Agent (the
"Transfer Agent").
Effective January 1, 1996, the telephone number for the following
transactions is 1-800-645-6561 or, if you are calling from overseas, 516-794-
5452:
- Dreyfus TeleTransfer Privilege
- Telephone Exchange Privilege
- Wire Redemption Privilege
- Telephone Redemption Privilege
