December 21, 1994
THE DREYFUS/LAUREL INVESTMENT SERIES-
DREYFUS/LAUREL INTERNATIONAL FUND
Supplement to Prospectus
Dated April 4, 1994
At a meeting held on December 20, 1994, the Board of Trustees
approved, subject to shareholder approval, an Agreement and Plan of
Reorganization providing for the transfer of assets of the Dreyfus/Laurel
International Fund (the "Fund") of The Dreyfus/Laurel Investment Series to
the Dreyfus International Equity Allocation Fund of The Dreyfus/Laurel
Funds, Inc., in a tax free exchange for shares of common stock of the
Dreyfus International Equity Allocation Fund and the assumption by the
Dreyfus International Equity Allocation Fund of stated liabilities of the
Fund, the distribution of shares of the Dreyfus International Equity
Allocation Fund to Fund shareholders and the subsequent termination of the
Fund (the "Reorganization").
It is currently contemplated that a special meeting of the Fund's
shareholders to consider the Reorganization will be held early in the
second quarter of 1995. A Proxy Statement/Prospectus with respect to the
proposed Reorganization is expected to be mailed to Fund shareholders
prior thereto. The Proxy Statement/Prospectus will describe the Dreyfus
International Equity Allocation Fund and other matters. There can be no
assurance that the Fund's shareholders will approve the Reorganization.
Effective December 31, 1994, Fund shares will no longer be offered for
purchase or exchange, except by persons who already held shares of the
Fund. Redemption of Fund shares and exchanges of Fund shares for shares
of certain other funds advised by The Dreyfus Corporation may be effected
prior to the Reorganization.
