Dreyfus
New Jersey
Municipal
Money Market
Fund, Inc.
Annual Report
January 31, 1997
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- ------------------------------------------------------------------------------
Letter to Shareholders
Dear Shareholder:
We are pleased to report the performance for Dreyfus New Jersey Municipal
Money Market Fund, Inc. for its fiscal year ended January 31, 1997. Your Fund
produced an annualized yield of 2.71%, and after taking into account the effect
of compounding, the annualized effective yield was 2.74%.*
THE ECONOMY
In recent months, the U.S. economy appeared to be advancing more rapidly than
it had been previously, as incoming data reflected an accelerated pace.
December's strong gains in non-farm payrolls and the length of the workweek,
along with upward revisions of both for November, convinced many analysts that
fourth quarter Gross Domestic Product (GDP) growth would be strong--in the 4%
range. Their estimates were, in actuality, low, as the reported GDP rate was a
brisk 4.7%. While such strong economic growth has not yet produced higher
inflation, forthcoming data on wage and benefits growth, home sales, and
purchasing managers' outlays may rekindle inflation concerns. Some Federal
Reserve Board (the "Fed") officials have been voicing concern already, although
Fed Chairman Greenspan gave little sense of urgency in his commentary to the
Senate Budget Committee on January 21. Additionally, the Fed Beige Book survey
of national economic conditions contained few hints of price pressures.
Given these indications, the Fed seems likely to rely on anti-inflation
rhetoric rather than action until evidence of price pressures becomes more
persuasive. Nonetheless, words of caution from Fed Chairman Alan Greenspan
during December, and January's robust economic data, have pushed up market
interest rates on six-month to one-year money market securities, as investors
begin to see the possibility of higher rates ahead.
MARKET/PORTFOLIO OVERVIEW
The economic picture is always an important component of our overall
portfolio strategy. However, market expectations can also affect the short-term
municipal market--as was the case in this most recent period. The anticipation
of Federal Reserve activity prior to the Presidential election this past
November left the market jittery, while the lack of Fed action in the weeks
following the election helped settle the market into a trading range. However,
various other influences which affect our market (most specifically
supply/demand) can lead us to adjust our strategy, and result in a portfolio
structure and/or average maturity which may not appear to coincide exactly with
interest rate moves, economic conditions, or forecasts. For example, during this
period, one might have expected that your Fund's average maturity would be
relatively short in expectation of higher rates. However, we were comfortable
extending the average maturity beyond 50 days, and locking in attractive rates
as 1996 drew to a close, due to the expectation of limited availability of high
quality municipal note issues in early 1997. This strategy served us well when
rates dropped significantly (albeit temporarily) in January, and also leaves
flexibility to extend further should conditions warrant and opportunities arise.
However, in the New Jersey market specifically, our effort to extend was, at
times, hampered by the lack of high quality New Jersey-exempt issues. This
scarcity often necessitates paying a premium for New Jersey notes.
In the coming months, we expect additional technical market situations to
occur such as increased redemptions due to tax payments during April and the
maturation of significant note issues in June. As a result of these anticipated
market events, we expect to adjust the Portfolio's composition to respond to the
supply and cash flow changes in an effort to maximize your Fund's yield
performance. As we endeavor to accomplish this, we will continue to commit to
those issues
<PAGE>
which meet our high quality investment guidelines and which provide the
appropriate level of liquidity for your Fund's needs. Additionally, we will
monitor those conditions which affect our marketplace and adjust our investment
policy where necessary in seeking to enhance your Fund's performance.
Included in this report is a series of detailed statements about your Fund's
holdings and its financial condition. We hope they are informative. Please know
that we appreciate greatly your continued confidence in the Fund and in The
Dreyfus Corporation.
Very truly yours,
Richard J. Moynihan
Director, Municipal Portfolio Management
The Dreyfus Corporation
February 17, 1997
New York, N.Y.
*Annualized effective yield is based upon dividends declared daily and
reinvested monthly. Yield fluctuates and past performance is no guarantee of
future results.
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- ------------------------------------------------------------------------------
Statement of Investments January 31, 1997
<TABLE>
<CAPTION>
Principal
Tax Exempt Investments--100.0% Amount Value
- ----------------------------------------------------------------------------- ---------------- ----------
<S> <C> <C>
New Jersey--90.1%
Atlantic County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program) 3.35% (LOC; Midland Bank) (a,b)..... $ 4,800,000 $ 4,800,000
Township of East Brunswick, BAN 3.75%, 1/2/98................................ 19,000,000 19,050,535
Essex County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program) 3.25% (LOC; Banco Santander) (a,b).. 18,800,000 18,800,000
Fort Lee, TAN 4.25%, 2/7/97.................................................. 7,000,000 7,000,580
Hudson County Improvement Authority, VRDN (Essential Purpose Pooled
Government Loan) 3.45% (LOC: Comerica Bank and Fuji Bank) (a,b)........... 16,240,000 16,240,000
Hunterdon County, BAN 3.75%, 5/23/97......................................... 13,850,000 13,854,055
Middlesex County, BAN 3.90%, 6/25/97......................................... 36,900,000 36,901,314
Monmouth County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program) 3.40% (LOC; Union Bank of
Switzerland) (a,b)...................................................... 25,000,000 25,000,000
Morristown, BAN 4.125%, 5/8/97............................................... 10,700,000 10,710,441
New Jersey Economic Development Authority, VRDN:
Docks Facilities Revenue, Refunding
(Bayonne/IMTT Project) 3.40%, Series A (LOC; ABN-Amro Bank) (a,b)....... 6,500,000 6,500,000
EDR:
(Black Horse Pike Limited Project)
3.95% (Corp. Guaranty; Household Finance Corp.) (a)................... 5,400,000 5,400,000
(Exit 8A Limited Partnership Project) 3.55% (LOC; Bank of
Tokyo-Mitsubishi) (a,b)............................................... 6,600,000 6,600,000
(Merck and Co. Inc.) 4.05%, Series A (a)................................ 1,000,000 1,000,000
Refunding (Hartz and Rex Associates) 3.675%, Series B (LOC; Bankers
Trust) (a,b).......................................................... 2,000,000 2,000,000
(White Horse Pike Limited Project)
3.80% (Corp. Guaranty; Household Finance Corp.) (a)................... 7,600,000 7,600,000
First Mortgage Gross Revenue
(Franciscan Oaks Project) 3.35%, Series B (LOC; Bank of Scotland) (a,b). 3,500,000 3,500,000
Mortgage Facilities Revenue
(Rennoc Corp. Project) 3.50% (LOC; Philadelphia National Bank) (a,b).... 4,505,000 4,505,000
PCR:
(Hoffman La Roche Project) 3.30% (LOC; Bankers Trust) (a,b)............. 20,000,000 20,000,000
Refunding (Public Service Electric and Gas Co.)
3.10%, Series A (Insured; MBIA and Liquidity Facility; Swiss Bank
Corp.) (a).......................................................... 7,300,000 7,300,000
Water Facilities Revenue, Refunding:
3.35%, Series A (Insured; AMBAC and Liquidity Facility; The Bank of New
York) (a)............................................................. 5,000,000 5,000,000
3.50%, Series C (Insured; AMBAC and Liquidity Facility; The Bank of New
York) (a)............................................................. 4,100,000 4,100,000
New Jersey Health Care Facilities Financing Authority, VRDN
(Hospital Capital Asset Financing):
3.35%, Series A (LOC; Chase Manhattan Bank) (a,b)....................... 13,200,000 13,200,000
3.35%, Series D (LOC; Chase Manhattan Bank) (a,b)....................... 12,000,000 12,000,000
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- -----------------------------------------------------------------------------
Statement of Investments (continued) January 31, 1997
</TABLE>
<TABLE>
<CAPTION>
Principal
Tax Exempt Investments (continued) Amount Value
- ----------------------------------------------------------------------------- ---------------- ----------
<S> <C> <C>
New Jersey Sports and Exposition Authority, State Contract, VRDN
3.35%, Series C (Insured; MBIA and Liquidity Facility; Barclay de
Zotte) (a).............................................................. $ 18,900,000 $ 18,900,000
New Jersey Turnpike Authority, Turnpike Revenue, Refunding, VRDN
3.35%, Series D (Insured; FGIC and Liquidity Facility; Societe Generale) (a) 72,100,000 72,100,000
Passaic County, BAN:
4%, 4/4/97................................................................ 5,000,000 5,003,066
4.25%, Series B, 6/25/97.................................................. 15,000,000 15,019,884
4.50%, 9/26/97............................................................ 23,000,000 23,076,015
Port Authority of New York and New Jersey:
CP 3.45%, 3/18/97 (Liquidity Facility; Bank of Nova Scotia)............... 6,725,000 6,725,000
VRDN:
Certificates Partnership 3.20% (a)...................................... 5,688,000 5,688,000
Special Obligation Revenue, Versatile Structure Obligation:
3.60%, Series 2 (LOC; Morgan Guaranty Trust Co.) (a,b)................ 20,000,000 20,000,000
3.65%, Series 3 (SPBA; Morgan Guaranty Trust Co.) (a)................. 8,800,000 8,800,000
3.65%, Series 5 (Liquidity Facility; Bayerische Landesbank) (a)....... 31,000,000 31,000,000
3.70%, Series 4 (LOC; Landesbank Hessen) (a,b)........................ 11,900,000 11,900,000
State of New Jersey, CP, TRAN
3.50%, Series 96, 2/7/97 (Liquidity Facility; Union Bank of Switzerland).. 11,000,000 11,000,000
U.S. Related--9.9%
Commonwealth of Puerto Rico, TRAN 4%, Series A, 7/30/97...................... 21,000,000 21,057,638
Commonwealth of Puerto Rico Government Development Bank:
CP:
3.25%, 3/7/97........................................................... 5,000,000 5,000,000
3.45%, 3/14/97.......................................................... 12,000,000 12,000,000
Refunding, VRDN 3.20%, (LOC; Credit Suisse) (a,b)......................... 4,100,000 4,100,000
Commonwealth of Puerto Rico Highway and Transportation Authority,
Highway Revenue, VRDN 3.20%, Series X (LOC: Landesbank Hessen, Swiss Bank Corp.
and Union Bank of Switzerland) (a,b).................................... 10,775,000 10,775,000
------------
TOTAL INVESTMENTS (cost $533,206,528)........................................ $533,206,528
============
</TABLE>
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
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Summary of Abbreviations
- ---------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
AMBAC American Municipal Bond Assurance Corporation MBIA Municipal Bond Investors Assurance
BAN Bond Anticipation Notes Insurance Corporation
CP Commercial Paper PCR Pollution Control Revenue
EDR Economic Development Revenue SBPA Standby Bond Purchase Agreement
FGIC Financial Guaranty Insurance Company TAN Tax Anticipation Notes
LOC Letter of Credit TRAN Tax and Revenue Anticipation Notes
VRDN Variable Rate Demand Notes
</TABLE>
Summary of Combined Ratings (Unaudited)
- ----------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Fitch (c) or Moody's or Standard & Poor's Percentage of Value
- ------ -------- ---------------- ------------------
F1+/F1 VMIG1/MIG1, P1(d) SP1+/SP1, A1+/A1(d) 68.5%
AAA/AA (e) Aaa/Aa (e) AAA/AA (e) 8.2
Not Rated (f) Not Rated (f) Not Rated (f) 23.3
-------
100.0%
=======
<FN>
Notes to Statement of Investments:
- --------------------------------------------------------------------------------
(a) Securities payable on demand. The interest rate, which is subject to change,
is based upon bank prime rates or an index of market interest rates.
(b) Secured by letters of credit. At January 31, 1997, 32.1% of the Fund's net
assets are backed by letters of credit issued by domestic banks and foreign
banks.
(c) Fitch currently provides creditworthiness information for a limited number
of investments.
(d) P1 and A1 are the highest ratings assigned tax exempt commercial paper by
Moody's and Standard & Poor's, respectively.
(e) Notes which are not F, MIG or SP rated are represented by bond ratings of
the issuers.
(f) Securities which, while not rated by Fitch, Moody's and Standard and Poor's
have been determined by the Manager to be of comparable quality to those
rated securities in which the Fund may invest.
</TABLE>
See notes to financial statements.
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- --------------------------------------------------------------------------------
Statement of Assets and Liabilities January 31, 1997
<TABLE>
<CAPTION>
Cost Value
------------ ------------
<S> <C> <C> <C>
ASSETS: Investments in securities--See Statement of Investments $533,206,528 $533,206,528
Cash............................................. 1,085,213
Receivable for investment securities sold........ 23,004,033
Interest receivable.............................. 4,376,914
Prepaid expenses................................. 32,367
------------
561,705,055
------------
LIABILITIES: Due to The Dreyfus Corporation and affiliates.... 298,342
Accrued expenses and other liabilities........... 146,977
------------
445,319
------------
NET ASSETS..................................................................... $561,259,736
============
REPRESENTED BY: Paid-in capital.................................. $561,422,354
Accumulated net realized gain (loss) on investments (162,618)
------------
NET ASSETS..................................................................... $561,259,736
============
SHARES OUTSTANDING
(2 billion shares of $.001 par value Common Stock authorized).................. 561,422,354
NET ASSET VALUE, offering and redemption price per share....................... $1.00
=====
</TABLE>
See notes to financial statements.
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- -------------------------------------------------------------------------------
Statement of Operations Year Ended January 31, 1997
<TABLE>
INVESTMENT INCOME
<S> <C> <C> <C>
INCOME Interest Income................................. $20,160,113
EXPENSES: Management fee--Note 2(a)....................... $2,992,557
Shareholder servicing costs--Note 2(b).......... 747,697
Custodian fees.................................. 55,894
Professional fees............................... 44,533
Directors' fees and expenses--Note 2(c)......... 40,489
Prospectus and shareholders' reports............ 15,025
Registration fees............................... 10,081
Miscellaneous................................... 18,872
----------
Net Expenses............................... 3,925,148
-----------
INVESTMENT INCOME--NET........................................................ 16,234,965
NET REALIZED GAIN (LOSS) ON INVESTMENTS--Note 1(b)............................ (4,210)
-----------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS.......................... $16,230,755
===========
</TABLE>
See notes to financial statements.
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- ------------------------------------------------------------------------------
Statement of Changes in Net Assets
<TABLE>
<CAPTION>
Year Ended Year Ended
January 31, 1997 January 31, 1996
---------------- ----------------
OPERATIONS:
<S> <C> <C>
Investment income--net................................................ $ 16,234,965 $ 22,702,856
Net realized gain (loss) on investments............................... (4,210) (105,913)
-------------- --------------
Net Increase (Decrease) in Net Assets Resulting from Operations... 16,230,755 22,596,943
-------------- --------------
DIVIDENDS TO SHAREHOLDERS FROM:
Investment income--net................................................ (16,234,965) (22,702,856)
-------------- --------------
CAPITAL STOCK TRANSACTIONS($1.00 per share):
Net proceeds from shares sold........................................ 653,656,150 1,018,590,073
Dividends reinvested................................................. 14,796,841 20,668,702
Cost of shares redeemed.............................................. (754,746,193) (1,164,508,518)
-------------- --------------
Increase (Decrease) in Net Assets from Capital Stock Transactions (86,293,202) (125,249,743)
-------------- --------------
Total Increase (Decrease) in Net Assets........................ (86,297,412) (125,355,656)
NET ASSETS:
Beginning of Period.................................................. 647,557,148 772,912,804
-------------- --------------
End of Period........................................................ $ 561,259,736 $ 647,557,148
-------------- --------------
-------------- --------------
</TABLE>
See notes to financial statements.
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- --------------------------------------------------------------------------------
Financial Highlights
Contained below is per share operating performance data for a share of Common
Stock outstanding, total investment return, ratios to average net assets and
other supplemental data for each period indicated. This information has been
derived from the Fund's financial statements.
<TABLE>
<CAPTION>
Year Ended January 31,
-----------------------------------------------------
PER SHARE DATA: 1997 1996 1995 1994 1993
------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of period........ $1.00 $1.00 $1.00 $1.00 $1.00
----- ----- ----- ----- -----
Investment Operations:
Investment income--net....................... .027 .032 .025 .021 .027
----- ----- ----- ----- -----
Distributions:
Dividends from investment income--net........ (.027) (.032) (.025) (.021) (.027)
----- ----- ----- ----- -----
Net asset value, end of period.............. $1.00 $1.00 $1.00 $1.00 $1.00
----- ----- ----- ----- -----
----- ----- ----- ----- -----
TOTAL INVESTMENT RETURN........................ 2.75% 3.25% 2.55% 2.12% 2.68%
RATIOS/SUPPLEMENTAL DATA:
Ratio of expenses to average net assets..... .65% .59% .42% .35% .32%
Ratio of net investment income
to average net assets.................... 2.71% 3.21% 2.52% 2.10% 2.65%
Decrease reflected in above expense ratios
due to undertakings by the Manager....... -- .06% .22% .30% .32%
Net Assets, end of period (000's Omitted)... $561,260 $647,557 $772,913 $778,236 $781,600
</TABLE>
See notes to financial statements.
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- ------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
NOTE 1--Significant Accounting Policies:
Dreyfus New Jersey Municipal Money Market Fund, Inc. (the "Fund") is
registered under the Investment Company Act of 1940 ("Act") as a non-diversified
open-end management investment company. The Fund's investment objective is to
provide investors with as high a level of current income exempt from Federal and
State of New Jersey income taxes as is consistent with the preservation of
capital and the maintenance of liquidity. The Dreyfus Corporation ("Manager")
serves as the Fund's investment adviser. The Manager is a direct subsidiary of
Mellon Bank, N.A. Premier Mutual Fund Services, Inc. acts as the distributor of
the Fund's shares, which are sold to the public without a sales charge.
It is the Fund's policy to maintain a continuous net asset value per share of
$1.00; the Fund has adopted certain investment, portfolio valuation and dividend
and distribution policies to enable it to do so. There is no assurance, however,
that the Fund will be able to maintain a stable net asset value per share of
$1.00.
The Fund's financial statements are prepared in accordance with generally
accepted accounting principles which may require the use of management estimates
and assumptions. Actual results could differ from those estimates.
(A) PORTFOLIO VALUATION: Investments are valued at amortized cost, which has
been determined by the Fund's Board of Directors to represent the fair value of
the Fund's investments.
(B) SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities transactions
are recorded on a trade date basis. Interest income, adjusted for amortization
of premiums and original issue discounts on investments, is earned from
settlement date and recognized on the accrual basis. Realized gain and loss from
securities transactions are recorded on the identified cost basis.
The Fund follows an investment policy of investing primarily in municipal
obligations of one state. Economic changes affecting the state and certain of
its public bodies and municipalities may affect the ability of issuers within
the state to pay interest on, or repay principal of, municipal obligations held
by the Fund.
(C) DIVIDENDS TO SHAREHOLDERS: It is the policy of the Fund to declare
dividends daily from investment income-net. Such dividends are paid monthly.
Dividends from net realized capital gain, if any, are normally declared and paid
annually, but the Fund may make distributions on a more frequent basis to comply
with the distribution requirements of the Internal Revenue Code. To the extent
that net realized capital gain can be offset by capital loss carryovers, it is
the policy of the Fund not to distribute such gain.
(D) FEDERAL INCOME TAXES: It is the policy of the Fund to continue to qualify
as a regulated investment company, which can distribute tax exempt dividends, by
complying with the applicable provisions of the Internal Revenue Code, and to
make distributions of income and net realized capital gain sufficient to relieve
it from substantially all Federal income and excise taxes.
The Fund has an unused capital loss carryover of approximately $163,000
available for Federal income tax purposes to be applied against future net
securities profits, if any, realized subsequent to January 31, 1997. If not
applied, $900 of the carryover expires in fiscal 2000, $2,300 expires in fiscal
2002, $39,800 expires in fiscal 2003, $115,000 expires in fiscal 2004 and $5,000
expires in fiscal 2005.
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- ------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (continued)
At January 31, 1997, the cost of investments for Federal income tax purposes
was substantially the same as the cost for financial reporting purposes (see the
Statement of Investments).
NOTE 2--Management Fee and Other Transactions With Affiliates:
(A) Pursuant to a management agreement with the Manager, the management fee
is computed at the annual rate of .50 of 1% of the value of the Fund's average
daily net assets and is payable monthly.
(B) Pursuant to the Fund's Shareholder Services Plan, the Fund reimburses
Dreyfus Service Corporation, a wholly-owned subsidiary of the Manager, an amount
not to exceed an annual rate of .25 of 1% of the value of the Fund's average
daily net assets for certain allocated expenses of providing personal services
and/or maintaining shareholder accounts. The services provided may include
personal services relating to shareholder accounts, such as answering
shareholder inquiries regarding the Fund and providing reports and other
information, and services related to the maintenance of shareholder accounts.
During the period ended January 31, 1997, the Fund was charged an aggregate of
$344,117 pursuant to the Shareholder Services Plan.
The Fund compensates Dreyfus Transfer, Inc., a wholly owned subsidiary of the
Manager, under a transfer agency agreement, for providing personnel and
facilities to perform transfer agency services for the Fund. Such compensation
amounted to $264,358 during the period ended January 31, 1997.
(C) Each director who is not an "affiliated person" as defined in the Act
receives from the Fund an annual fee of $2,500 and an attendance fee of $500 per
meeting. The Chairman of the Board receives an additional 25% of such
compensation.
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- -----------------------------------------------------------------------------
Report of Ernst & Young LLP, Independent Auditors
Shareholders and Board of Directors
Dreyfus New Jersey Municipal Money Market Fund, Inc.
We have audited the accompanying statement of assets and liabilities of
Dreyfus New Jersey Municipal Money Market Fund, Inc., including the statement of
investments, as of January 31, 1997, and the related statement of operations for
the year then ended, the statement of changes in net assets for each of the two
years in the period then ended, and financial highlights for each of the years
indicated therein. These financial statements and financial highlights are the
responsibility of the Fund's management. Our responsibility is to express an
opinion on these financial statements and financial highlights based on our
audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements and financial
highlights are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements and financial highlights. Our procedures included confirmation of
securities owned as of January 31, 1997 by correspondence with the custodian. An
audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of
Dreyfus New Jersey Municipal Money Market Fund, Inc. at January 31, 1997, the
results of its operations for the year then ended, the changes in its net assets
for each of the two years in the period then ended, and the financial highlights
for each of the indicated years, in conformity with generally accepted
accounting principles.
Ernst & Young LLP
New York, New York
March 7, 1997
<PAGE>
Dreyfus New Jersey Municipal Money Market Fund, Inc.
- ------------------------------------------------------------------------------
Tax Information (Unaudited)
In accordance with Federal tax law, the Fund hereby designates all the
dividends paid from investment income-net during the fiscal year ended January
31, 1997 as "exempt-interest dividends" (not subject to regular Federal and, for
individuals who are New Jersey residents, New Jersey personal income taxes).
<PAGE>
Dreyfus New Jersey
Municipal Money Market Fund, Inc.
200 Park Avenue
New York, NY 10166
Manager
The Dreyfus Corporation
200 Park Avenue
New York, NY 10166
Custodian
The Bank of New York
90 Washington Street
New York, NY 10286
Transfer Agent &
Dividend Disbursing Agent
Dreyfus Transfer, Inc.
P.O. Box 9671
Providence, RI 02940
Printed in U.S.A. 758AR971
