July 3, 1996
DREYFUS S&P 500 INDEX FUND
Supplement to Statement of Additional Information
Dated March 1,1996
The following information supplements and supersedes any contrary
information contained in the Statement of Additional Information:
For certain institutions that have entered into agreements with the
Distributor, payment for the purchase of Fund shares may be transmitted,
and must be received by the Transfer Agent, within three business days
after the order is placed. If such payment is not received within three
business days after the order is placed, the order may be canceled and the
institution could be held liable for resulting fees and/or losses.
