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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
RULE 24f-2 NOTICE
THE DREYFUS/LAUREL INVESTMENT SERIES
(formerly The Laurel Investment Series)
(Name of Registrant)
One Exchange Place
Boston, MA 02109
(Address of principal executive offices)
Asset Allocation Fund
Contrarian Fund
Equity-Income Fund
International Fund
Short-Term Bond Fund
All Shares of Beneficial Interest, $0.001 Par Value
(Title of securities with respect to which Notice is filed)
File No. 33-43847
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1. Fiscal year for which Rule 24f-2 Notice ("Notice") is filed:
September 1, 1993 through August 31, 1994+
2. Number of securities of the same class or series, if any, which
had been registered under the Securities Act of 1933 other than
pursuant to Rule 24f-2, but which remained unsold at the
beginning of such fiscal year:
Asset Allocation Fund Shares: -0-
Contrarian Fund Shares: -0-
Equity-Income Fund Shares: 92,022
International Fund Shares: 1,648,307
Short-Term Bond Fund Shares: -0-
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+ Effective April 4, 1994, the Institutional and Retail Classes of shares
were reclassified as a single class of shares known as the Investor
Shares.
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3. Number of securities, if any, registered during such fiscal year
other than pursuant to Rule 24f-2:
Asset Allocation Fund Shares: -0-
Contrarian Fund Shares: -0-
Equity-Income Fund Shares: -0-
International Fund Shares: 773,207
Short-Term Bond Fund Shares: 185,135
4. Number and amount of securities sold during such fiscal year*:
Number Amount
Asset Allocation Fund Shares: 287,355 $ 4,425,670
Contrarian Fund Shares: 136,619 2,337,972
Equity-Income Fund Shares: -0- -0-
International Fund Shares: 910,492 11,309,382
Short-Term Bond Fund Shares: 125,473 1,547,869
5. Number and amount of securities sold during such fiscal year in
reliance upon registration pursuant to Rule 24f-2*:
Number Amount
Asset Allocation Fund Shares: 287,355 $ 4,425,670
Contrarian Fund Shares: 136,619 2,337,972
Equity-Income Fund Shares: -0- -0-
International Fund Shares: 793,030 9,812,814
Short-Term Bond Fund Shares: 125,473 1,547,869
This Notice is accompanied by an opinion of counsel, Kirkpatrick
& Lockhart, indicating that the securities the registration of which this
Notice makes definite in number were legally issued, fully paid and non-
assessable.
6. Pursuant to paragraph (c) of Rule 24f-2, no registration fees
accompany this Notice, based on the following calculations:
(a) Actual aggregate sales price of securities registered
pursuant to indefinite registration:
Asset Allocation Fund Shares: $ 4,425,670
Contrarian Fund Shares: 2,337,972
Equity-Income Fund Shares: -0-
International Fund Shares: 9,812,814
Short-Term Bond Fund Shares: 1,547,869
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* Excludes shares issued upon reinvestment of dividends.
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(b) Actual aggregate redemption or repurchase price of
securities redeemed or repurchased during the fiscal
year:
Asset Allocation Fund Shares: $37,172,169
Contrarian Fund Shares: 2,825,474
Equity-Income Fund Shares: 23,430
International Fund Shares: 9,812,814
Short-Term Bond Fund Shares: 2,762,840
(c) Net of (a) - (b):
Asset Allocation Fund Shares: $(32,746,499)
Contrarian Fund Shares: (487,502)
Equity-Income Fund Shares: (23,430)
International Fund Shares: -0-
Short-Term Bond Fund Shares: (1,214,971)
(d) Registration Fees:
Asset Allocation Fund Shares: $ -0-
Contrarian Fund Shares: $ -0-
Equity-Income Fund Shares: $ -0-
International Fund Shares: $ -0-
Short-Term Bond Fund Shares: $ -0-
This is the final Rule 24f-2 Notice for the Asset Allocation Fund
and the Equity-Income Fund, both of which series were closed effective
August 3, 1994.
Dated: October 31, 1994
THE DREYFUS/LAUREL INVESTMENT SERIES
By: /s/ MARIE E. CONNOLLY
Name: Marie E. Connolly
Title: President and Treasurer
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October 31, 1994
The Dreyfus/Laurel Investment Series
One Exchange Place
Boston, Massachusetts 02109
Re: Rule 24f-2 Notice
Dear Sir or Madam:
The Dreyfus/Laurel Investment Series (the "Trust") is an
unincorporated voluntary association organized under the laws of The
Commonwealth of Massachusetts under a Master Trust Agreement, as amended
and restated December 9, 1992. During the Trust's fiscal year ended
August 31, 1994, the Trust had five series of shares of beneficial
interest: Asset Allocation Fund, Contrarian Fund, Equity-Income Fund,
International Fund and Short-Term Bond Fund. We understand that the Trust
is about to file a Notice pursuant to Rule 24f-2 under the Investment
Company Act of 1940, as amended, making definite the registration of the
following numbers of shares of beneficial interest ($0.001 par value per
share) of the series (the "Shares") sold during the fiscal year ended
August 31, 1994 in reliance upon Rule 24f-2:
Asset Allocation Fund: 287,355
Contrarian Fund: 136,619
Equity-Income Fund: -0-
International Fund: 793,030
Short-Term Bond Fund: 125,473
We have examined copies, either certified or otherwise proved to
be genuine, of the Amended and Restated Master Trust Agreement and By-Laws
of the Trust, the minutes of the meetings of the Trustees and such other
documents relating to the organization and operation of the Trust as we
deemed necessary for purposes of this opinion. Based on the foregoing, we
are of the opinion that the Shares of the series sold during the fiscal
year ended August 31, 1994, the registration of which Shares will be made
definite by the filing of the Rule 24f-2 Notice, were legally issued,
fully paid and nonassessable. In rendering our opinion, we rely on
certification by the Trust that the Trust received consideration for such
Shares in accordance with the provisions of the Amended and Restated
Master Trust Agreement, and we assume that the sales of such Shares were
effected in compliance with the Securities Act of 1933, as amended, the
DC-165492.2
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The Dreyfus/Laurel Investment Series
October 31, 1994
Page 2
Investment Company Act of 1940, as amended, and applicable state "blue
sky" laws regulating the sale of securities.
The Trust is an entity commonly known as a "Massachusetts
business trust." Under Massachusetts law, the shareholders could, under
certain circumstances, be held personally liable for the obligations of
the Trust. However, the Trust's Amended and Restated Declaration of Trust
provides that creditors of, contractors with and claimants against the
Trust shall look only to the assets of the appropriate series of the Trust
for payment. It also requires that notice of such disclaimer be given in
every note, bond, contract, instrument, certificate or undertaking made or
issued by the Trustees or any officer(s) of the Trust on behalf of the
Trust. The Amended and Restated Master Trust Agreement further provides
that if any shareholder of any series of the Trust is charged or held to
be personally liable for any obligation or liability of the Trust solely
by reason of being or having been such a shareholder, the shareholder
shall be entitled out of the assets of the appropriate series of the Trust
to be held harmless from and indemnified against all loss and expense
arising from such liability. Thus, the risk of a shareholder's incurring
financial loss on account of shareholder liability is limited to
circumstances in which the Trust or appropriate series of the Trust would
be unable to meet its obligations.
We hereby consent to the Trust's filing this opinion with the
Securities and Exchange Commission together with the Trust's Rule 24f-2
Notice referred to above.
Very truly yours,
/s/ KIRKPATRICK & LOCKHART
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