DREYFUS PREMIER INTERNATIONAL GROWTH FUND INC, 485APOS, 1998-10-07

DREYFUS PREMIER INTERNATIONAL GROWTH FUND INC
485APOS, 1998-10-07

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Securities Act File No. 33-44254
Investment Company Act File No. 811-6490
==========================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 /X/
--

Pre-Effective Amendment No. _

Post-Effective Amendment No. 18 /X/
--

and

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 /X/
--

Amendment No. 18 /X/
--
(Check appropriate box or boxes)

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.
(formerly, DREYFUS PREMIER INTERNATIONAL GROWTH FUND, INC.)
(Exact Name of Registrant as Specified in Charter)

c/o The Dreyfus Corporation
200 Park Avenue, New York, New York 10166
(Address of Principal Executive Offices) (Zip Code)

Registrant's Telephone Number, including Area Code: (212) 922-6130

Mark N. Jacobs, Esq.
200 Park Avenue
New York, New York 10166
(Name and Address of Agent for Service)

copy to:

Lewis G. Cole, Esq.
Stroock & Stroock & Lavan LLP
180 Maiden Lane
New York, New York 10038-4982

It is proposed that this filing will become effective (check
appropriate box)

____ immediately upon filing pursuant to paragraph (b)

____ on (date) pursuant to paragraph (b)

____ 60 days after filing pursuant to paragraph (a)(i)

____ on (date) pursuant to paragraph (a)(i)

__X__ 75 days after filing pursuant to paragraph (a)(ii)

____ on (date) pursuant to paragraph (a)(ii) of Rule 485.

If appropriate, check the following box:

___ this post-effective amendment designates a new
effective date for a previously filed post-effective
amendment.

<PAGE>
DREYFUS PREMIER INTERNATIONAL FUNDS, INC.
Cross-Reference Sheet Pursuant to Rule 495(a)

Items in
Part A of
FORM N-1A CAPTION PAGE

1 Front and Back Cover Pages Covers

2 Risk/Return Summary: Investments, Risks, 3
and Performance

3 Risk/Return Summary: Fee Table 5

4 Investment Objectives, Principal Investment 2
Strategies, and Related Risks

5 Management's Discussion of Fund Performance *

6 Management, Organization, and Capital Structure 6

7 Shareholder Information 8

8 Distribution Arrangements 11

9 Financial Highlights Information *

Items in
Part B of
Form N-1A
- ---------

10 Cover Page and Table of Contents Cover

11 Fund History B-2

12 Description of the Fund and its Investments
and Risks B-2

13 Management of the Fund B-8

14 Control Persons and Principal B-13
Holders of Securities

15 Investment Advisory and Other B-13
Services

16 Brokerage Allocation and Other Practices B-14

17 Capital Stock and Other Securities B-27

18 Purchase, Redemption and Pricing B-15
of Shares

19 Taxation of the Fund *

20 Underwriters B-26

21 Calculation of Performance Data B-27

22 Financial Statements B-28

Items in
Part C of
Form N-1A
- ---------

23 Exhibits C-1

24 Persons Controlled by or Under C-2
Common Control with the Fund

25 Indemnification C-2

26 Business and Other Connections of the C-2
Investment Adviser

27 Principal Underwriters C-8

28 Location of Accounts and Records C-11

29 Management Services C-11

30 Undertakings C-11

- ----------------
*Omitted since answer is negative or inapplicable.

<PAGE>

DREYFUS PREMIER
EUROPEAN EQUITY FUND

Investing in European companies for
long-term capital growth.

PROSPECTUS ___________, 1998

DREYFUS [LOGO]

As with all mutual funds, the Securities and Exchange Commission doesn't
guarantee that the information in this prospectus is accurate or complete, nor
has it approved or disapproved these securities. It is a criminal offense to
state otherwise.

<PAGE>

CONTENTS

THE FUND
- -------------------------------------------------------------------------------

What every investor should Goal/Approach
know about the fund
Main Risks

Past Performance

Expenses

Management

Financial Highlights

INVESTOR ACCOUNT INFORMATION
- -------------------------------------------------------------------------------

Information for managing Account Policies
a fund account
Distributions and Taxes

Services for Fund Investors

Instructions for Regular Accounts

Instructions for IRAs

FOR MORE INFORMATION
- -------------------------------------------------------------------------------

Where to learn more about Back Cover
this and other Dreyfus
funds

<PAGE>

DREYFUS PREMIER EUROPEAN EQUITY FUND
THE FUND

[ICON] GOAL/APPROACH
-------------

The fund seeks long-term capital growth. To achieve this goal, the fund intends
to invest at least 80% of its total assets in the equity securities of the 300
largest European companies. The fund employs a top-down approach which involves
identifying and forecasting: key trends in global economic variables, such as
gross domestic product, inflation and interest rates; investment themes, such as
the impact of new technologies and the globalization of industries and brands;
relative values of equity securities, bonds and cash; [and long-term trends in
currency movements]. Within markets and sectors determined to be relatively
attractive, the fund seeks what it believes to be attractively priced companies
that possess a sustainable competitive advantage in their market or sector. The
fund will sell securities when themes or strategies change or when the fund
determines that the company's prospects have changed or if the fund believes
that the company's stock is fully valued by the market. The fund also may invest
up to 10% of its total assets in securities traded on markets outside the
European market.

[LEFT SIDE BAR]

CONCEPTS TO UNDERSTAND
- ----------------------

EUROPEAN COMPANY: a company organized under the laws of a European country or
for which the principal securities trading market is in Europe; or a company,
wherever organized, with a majority of its assets or business in Europe.

EQUITY SECURITIES: represent ownership interests possessed by shareholders in a
corporation, such as common stock, preferred stock and convertible securities.

PREFERRED STOCK: stock that pays dividends at a specified rate and has
preference over common stock in the payment of dividends and the liquidation of
assets. Preferred stock ordinarily does not carry voting rights.

CONVERTIBLE SECURITIES: corporate securities, usually preferred stock or bonds,
that are exchangeable for a set amount of another form of security, usually
common stock, at a prestated price.

<PAGE>

[ICON] MAIN RISKS
----------

The fund's performance will be influenced by political, social and economic
factors affecting companies in European countries and throughout the world.
Unlike investing in U.S. companies, these risks include changes in currency
exchange rates, a lack of adequate company information, political instability,
and differing auditing and legal standards.

The fund expects to invest primarily in the stocks of companies located in
developed European countries. However, the fund may invest in the stocks of
companies located in certain European countries which are considered to be
emerging markets. These countries have economic structures that are generally
less diverse and mature, and political systems that are less stable, than those
of developed countries. Emerging markets may be more volatile than the markets
of more mature economies; however, such markets may provide higher rates of
return to investors.

Under adverse market conditions, the fund could invest some or all of its assets
in money market securities. Although the fund would do this only in seeking to
avoid losses, it could reduce the benefit from any upswing in the market.

----------------------------------

[LEFT SIDE BAR]

OTHER POTENTIAL RISKS
- ---------------------

The fund may invest some assets in derivative securities, such as options and
futures, and in foreign currencies. It may also sell short. These practices are
used primarily to hedge the fund's portfolio but may be used to increase
returns; however such practices sometimes may reduce returns or increase
volatility.

At times, the fund may engage in short-term trading, which could produce higher
brokerage costs and taxable distributions.

The fund can buy securities with borrowed money (a form of leverage), which
could have the effect of magnifying the fund's gains or losses.

<PAGE>
----------------------------------

[ICON] PAST PERFORMANCE
----------------

As a new fund, past performance information is not available for the fund as of
the date of this prospectus.

----------------------------------

[LEFT SIDE BAR]

WHAT THIS FUND IS AND ISN'T
- ---------------------------

This fund is a mutual fund: a pooled investment that is professionally managed
and gives you the opportunity to participate in financial markets. It strives to
reach its stated goal, although as with all mutual funds, it cannot offer
guaranteed results.

An investment in the fund is not a bank deposit. It is not insured or guaranteed
by the FDIC or any other government agency. It is not a complete investment
program. You could lose money in this fund, but you also have the potential to
make money.

----------------------------------

<PAGE>

[ICON] EXPENSES
--------

As an investor, you pay certain fees and expenses in connection with the fund,
which are described in the table below. Shareholder transaction fees are paid
from your account. Annual fund operating expenses are paid out of fund assets,
so their effect is included in the fund's share price.

- -------------

FEE TABLE

Shareholder transaction fees CLASS A Class B Class C Class R
------- ------- ------- -------

<S> <C> <C> <C> <C>
Maximum Sales Charge (Load) Imposed 5.75% None None None
on Purchases (as a percentage of
offering price)

Maximum Deferred Sales Charge (Load) None* 4.00% 1.00% None
Imposed on Redemptions (as a
percentage of the amount subject to
charge)

- -------------
* 1.00% charged on shares redeemed within one year on an investment of
$1 million or more.

Annual fund operating expenses
AS A % OF AVERAGE DAILY NET ASSETS
<S> <C> <C> <C> <C>
Management fees ----% ----% ----% ----%
12b-1 fees None 0.75% 0.75% None
Shareholder services fee 0.25% 0.25% 0.25% None
Other expenses ___% ____% ___% ___%
- ---------------------------------------------------------------------------------------------------------------
TOTAL, BEFORE REDUCTION ___% ____% ___% ___%
- -------------

EXPENSE EXAMPLE
<S> <C> <C> <C> <C>

ASSUMING REDEMPTION
AT THE END OF EACH PERIOD:
1 year.............................. $___ $___ $___ $___
3 year.............................. $___ $___ $___ $___
ASSUMING NO REDEMPTION
AT THE END OF EACH PERIOD:
1 year.............................. $___ $___ $___ $___
3 year.............................. $___ $___ $___ $___

</TABLE>

This example shows what an investor could pay in expenses over time. It uses
the same hypothetical conditions other funds use in their prospectuses:
$10,000 initial investment, 5% total return each year and no changes in
expenses. Because actual returns and expenses will be different, the example
is for comparison only.
- -------------------------------------------------------------------------------

[LEFT SIDE BAR]

CONCEPTS TO UNDERSTAND
- ----------------------

MANAGEMENT FEE: the fee paid to the investment advisers for managing the fund's
portfolio and assisting in all aspects of the fund's operations.

RULE 12B-1 FEES: the fee paid to the fund's distributor to finance the sale of
Class B and Class C shares.

SHAREHOLDER SERVICES FEE: the fee paid to the fund's distributor for shareholder
account service and maintenance provided to the holders of Class A, Class B and
Class C shares.

OTHER EXPENSES: estimated fees to be paid by the fund for the current fiscal
year for miscellaneous items such as transfer agency, custody, professional and
registration fees.

FEE WAIVERS AND EXPENSE REIMBURSEMENTS: Dreyfus has agreed with respect to each
Class that if certain fund expenses, including the management fee, exceed 2.00%
of the average daily net assets attributable to such class, Dreyfus will waive
its management fee or bear certain other fund expenses to the extent of the
excess. This undertaking is voluntary and may be terminated at any time.

<PAGE>
----------------------------------

[ICON] MANAGEMENT
----------

The fund's investment adviser is The Dreyfus Corporation, 200 Park Avenue, New
York, New York 10166. Founded in 1947, Dreyfus manages one of the nation's
leading mutual fund complexes, with more than $110 billion in over 160 mutual
fund portfolios. Dreyfus is the mutual fund business of Mellon Bank Corporation,
a broad-based financial services company with a bank at its core. With more than
$350 billion of assets under management and $1.7 trillion of assets under
administration and custody, Mellon provides a full range of banking, investment
and trust products and services to individuals, businesses and institutions. Its
mutual fund companies place Mellon as the leading bank manager of mutual funds.
Mellon is headquartered in Pittsburgh, Pennsylvania.

The Dreyfus asset management philosophy is based on the belief that discipline
and consistency are important to investment success. For each fund, Dreyfus
seeks to establish clear guidelines for portfolio management and to be
systematic in making decisions. This approach is designed to provide each fund
with a distinct, stable identity.

Dreyfus has engaged its affiliate, Newton Capital Management Limited, to act as
sub-investment adviser. Newton, located at ___________, was formed in _____ and,
as of _______, 1998, managed approximately $_____ billion in discretionary
separate accounts and provided investment advisory services for ___ other
investment companies having aggregate assets of approximately $___ billion.

The fund's primary portfolio managers are Joanna Bowen and Kiernan Gallagher.
Ms. Bowen is the ___________ and Mr. Gallagher is the _____________ of Newton
Capital Management Limited. [Five year history to be provided].

[LEFT SIDE BAR]

CONCEPT TO UNDERSTAND
- ---------------------

YEAR 2000 ISSUES: the fund could be adversely affected if the computer systems
used by Dreyfus and the fund's other service providers do not properly process
and calculate date-related information from and after January 1, 2000.

While year 2000-related computer problems could have a negative effect on the
fund, Dreyfus is working to avoid such problems and to obtain assurances from
service providers that they are taking similar steps.

<PAGE>
----------------------------------

[ICON] FINANCIAL HIGHLIGHTS
--------------------

As a new fund, financial highlights information is not available for the fund as
of the date of this prospectus.

----------------------------------

<PAGE>

YOUR INVESTMENT

[ICON] ACCOUNT POLICIES
----------------

ESTABLISHING AN ACCOUNT

The Dreyfus Premier funds are designed primarily for people who are investing
through a third party, such as a bank, broker-dealer or financial adviser, or in
a 401(k) or other retirement plan. Third parties with whom you open a fund
account may impose policies, limitations and fees which are different from those
described here. Consult your financial representative for more information.

Each class's share price is the fund's net asset value per share (NAV), except
for Class A, which is sold at NAV plus the applicable sales charge as described
below. The fund's NAV is generally calculated as of the close of trading on the
New York Stock Exchange (usually 4:00 p.m. Eastern time) every day the exchange
is open. Your order will be priced at the NAV next calculated after your order
is accepted. The fund's investments are valued based on market value, or, where
market quotations are not readily available or do not appear reliable, based on
fair value as determined in good faith by the fund's board.

You will need to choose a share class before making your initial investment. (If
only one share class is available through your program, you can refer just to
that information). In making your choice, you should weigh the impact of all
potential costs over the length of your investment, including sales charges and
annual fees. For example, in some cases, it may be more economical to pay an
initial sales charge than to choose a class with no initial sales charge but a
contingent deferred sales charge (CDSC) and higher annual fees, depending upon
the amount and expected time of your investment.

o Class A shares can be the most cost-effective choice for you if you are
investing for the long term, especially if you are investing more than
$100,000.

o Class B shares can make sense if you have a long time horizon but are
investing less than $50,000 in the fund.

o Class C shares may be appropriate for investors with shorter or less
certain time horizons.

o Class R shares are designed for eligible institutional investors.
Individuals may not purchase these shares.

<PAGE>

SHARE CLASS CHARGES

Each share class has its own fee structure. In some cases, you may not have to
pay a sales charge to buy or sell shares; contact your financial representative
to see if this may apply to you.

SALES CHARGES

CLASS A - charged when you buy Class A shares

% deducted Sales charge
as a sales as a % of
CHARGE WHEN YOUR NET
YOUR INVESTMENT YOU INVEST INVESTMENT
- --------------- ----------- ------------

Less than $50,000................ 5.75% 6.10%

$50,000 to less than 4.50% 4.70%
$100,000.........................

$100,000 to less than 3.50% 3.60%
$250,000.........................

$250,000 to less than 2.50% 2.60%
$500,000.........................

$500,000 to less than 2.00% 2.00%
$1,000,000.......................

$1,000,000 or more............... No initial sales charge, but there
is a 1.00% contingent deferred
sales charge on any such shares
sold within one year of purchase
(except shares bought through
reinvestment)
- ---------------------

CLASS B - charged when you sell Class B shares

Contingent deferred sales charge as a
Time since you bought % of your initial investment or your
the shares you are selling redemption proceeds (whichever is less)
- -------------------------- ---------------------------------------

up to 2 years..................... 4.00%
2 to 4 years...................... 3.00%
5 years........................... 2.00%
6 years........................... 1.00%
More than 6 years................. shares will automatically
convert to Class A

The method for calculating the CDSC is discussed below.

- ---------------------------------

CLASS C - charged when you sell Class C shares. A 1.00% CDSC is imposed when you
sell Class C shares within the first year of purchase. The basis for calculating
the payment of any such CDSC will be the method used in calculating the CDSC for
Class B shares.

- ---------------------------------

CLASS R - no sales charge

- ---------------------------------

The fund has adopted with respect to Class B and Class C a Distribution Plan
under Rule 12b-1 of the 1940 Act that enables the fund to pay distribution fees
for the sale and distribution of Class B and Class C shares. Pursuant to the
Plan, the fund pays the distributor a fee at the annual rate of 0.75% of the
average daily net assets attributable to Class B and Class C. Because these fees
are paid out of the fund's assets attributable to each such Class on an on-going
basis, over time these fees will increase the cost of a shareholder's investment
in such class and may cost the shareholder more than paying other types of sales
charges.

MINIMUM INVESTMENTS

Initial Additional
- -------------------------------------------------------------------------------

Regular accounts $1,000 $100
$500
FOR TELETRANSFER
INVESTMENTS
Traditional IRAs $750 no minimum
Spousal IRAs $500 no minimum
Roth IRAs $750 no minimum
Education IRAs $500 no minimum
AFTER THE FIRST YEAR
Dreyfus automatic $100 $100
investment plans

All investments must be in U.S. dollars. Third-party checks cannot be accepted.
You may be charged a fee for any check that does not clear. Maximum TeleTransfer
purchase is $150,000 per day.

----------------------------------

[LEFT SIDE BAR]

CONCEPTS TO UNDERSTAND
- ----------------------

TRADITIONAL IRA: an individual retirement account. Your contributions may or may
not be deductible depending on your circumstances. Assets can grow tax-deferred;
withdrawals and distributions are taxable in the year made.

SPOUSAL IRA: an IRA funded by a working spouse in the name of a nonworking
spouse.

ROTH IRA: an IRA with nondeductible contributions, and tax-free growth of assets
and distributions to pay retirement expenses, provided certain conditions are
met.

EDUCATION IRA: an IRA with nondeductible contributions, tax-free growth of
assets and distributions, if used to pay certain educational expenses.

FOR YOUR COMPLETE IRA INFORMATION, CONSULT DREYFUS OR YOUR TAX PROFESSIONAL.

<PAGE>
----------------------------------

SELLING SHARES

You may sell shares at any time through your financial representative, or you
can contact the fund directly. Your shares will be sold at the next NAV
calculated after your order is accepted by the fund's transfer agent. Any
certificates representing fund shares being sold must be returned with your
redemption request. Your order will be processed promptly and you will generally
receive the proceeds within a week.

TO KEEP YOUR CDSC AS LOW AS POSSIBLE, each time you sell shares we will first
sell shares that are not subject to a CDSC, and then those subject to the lowest
charge. The CDSC is based on the lesser of the original purchase cost or the
current market value of the shares being sold, and is not charged on shares you
acquired by reinvesting your dividends.

BEFORE SELLING RECENTLY PURCHASED SHARES, please note that if the fund has not
yet collected payment for the shares you are selling, it may delay sending the
proceeds until it has collected payment, which may take up to eight business
days.

[LEFT SIDE BAR]

WRITTEN SELL ORDERS
- -------------------

Some circumstances require that written sell orders be signature guaranteed.
These include:

o amounts of $100,000 or more

o amounts of $1,000 or more on accounts whose address has
been changed within the last 30 days

o requests to send the proceeds to a different payee
or address

A SIGNATURE GUARANTEE helps protect against fraud. You can obtain one from most
banks or securities dealers, but not from a notary public. For joint accounts,
each signature must be guaranteed. Please call us to ensure that your signature
guarantee will be processed correctly.

----------------------------------

<PAGE>

GENERAL POLICIES

IF YOUR ACCOUNT FALLS BELOW $500, the fund may ask the account holder to
increase the account balance. If it is still below $500 after 45 days, the fund
may close your account and send you the proceeds.

UNLESS YOU DECLINE TELEPHONE PRIVILEGES ON YOUR APPLICATION, you may be
responsible for any fraudulent telephone order as long as Dreyfus takes
reasonable measures to verify the order.

THE FUND RESERVES THE RIGHT TO:

o refuse any purchase or exchange request that could
adversely affect the fund or its operations, including
those from any investor who, in the fund's view, is likely
to engage in excessive trading (usually defined as more
than four exchanges out of the fund within a calendar
year)

o refuse any purchase or exchange request that could
adversely affect the fund or its operations (such as
requests in excess of 1% of the fund's total assets)

o change or discontinue its exchange privilege, or
temporarily suspend the privilege during unusual market
conditions

o change its minimum investment amounts

o delay sending out redemption proceeds for up to seven days
(generally applies only in cases of very large redemptions
or during unusual market conditions)

The fund also reserves the right to make a "redemption in kind" -- payment in
portfolio securities rather than cash -- if the amount you are redeeming is
large enough to affect fund operations (for example, if it represents more than
1% of the fund's assets).

<PAGE>
----------------------------------

[ICON] DISTRIBUTIONS AND TAXES
-----------------------

The fund usually pays its shareholders dividends from its net investment income,
and distributes any net capital gains it has realized once a year. Each share
class will generate a different dividend because each has different expenses.
Your distributions will be reinvested in the fund unless you instruct the fund
otherwise. There are no fees or sales charges on reinvestments.

Fund dividends and distributions are taxable to most investors (unless your
investment is in an IRA or other tax-advantaged account). The tax status of any
distribution is the same regardless of how long you have been in the fund and
whether you reinvest your distributions or take them in cash. In general,
distributions are taxable as follows:

TAXABILITY OF DISTRIBUTIONS

Type of distribution Tax rate for 15% Tax rate for 28%
bracket bracket or above
- -------------------------------------------------------------------------------

Income dividends Ordinary income rate Ordinary income rate

Short-term capital Ordinary income rate Ordinary income rate
gains

Long-Term capital 10% 20%
gains

- --------------------------------

The tax status of the distributions for each calendar year will be detailed in
your annual tax statement from the fund.

Because everyone's tax situation is unique, always consult your tax professional
about federal, state and local tax consequences.

[LEFT SIDE BAR]

TAXES ON TRANSACTIONS
- ---------------------

Except in tax-advantaged accounts, any sale or exchange of fund shares may
generate a tax liability.

The table at right can provide a guide for potential tax liability when selling
or exchanging fund shares. "Short-term capital gains" applies to fund shares
sold up to 12 months after buying them. "Long-term capital gains" applies to
shares sold after 12 months.

<PAGE>

[ICON] SERVICES FOR FUND INVESTORS
---------------------------

The third party from whom you purchased fund shares may impose restrictions on
these services and privileges offered by the fund, or may not make them
available at all. Consult your financial representative for more information on
the availability of these services and privileges.

AUTOMATIC SERVICES

Buying or selling shares automatically is easy with the services described
below. With each service, you select a schedule and amount, subject to certain
restrictions. You can set up most of these services with you application, or by
calling your financial representative or 1-800-554-4611.

FOR INVESTING
- -------------

DREYFUS AUTOMATIC ASSET For making automatic investments
BUILDER(R) from a designated bank account

DREYFUS PAYROLL SAVINGS For making automatic investments
PLAN through a payroll deduction

DREYFUS GOVERNMENT For making automatic investments
DIRECT DEPOSIT PRIVILEGE from your federal employment,
Social Security or other regular
federal government check.

DREYFUS DIVIDEND SWEEP For automatically
reinvesting the dividends and
distributions from one Dreyfus
fund into another (not available
for IRAs).

FOR EXCHANGING SHARES
- ---------------------

DREYFUS AUTO-EXCHANGE For making regular exchanges from
PRIVILEGE one Dreyfus fund into another

FOR SELLING SHARES
- ------------------

DREYFUS AUTOMATIC For making regular withdrawals
WITHDRAWAL PLAN from most Dreyfus funds

<PAGE>

EXCHANGE PRIVILEGE

You can exchange shares worth $500 or more from one Class of the fund into the
same Class of another Dreyfus [Premier] fund (no minimum for retirement
accounts). You can request your exchange by contacting your financial
representative. Be sure to read the current prospectus for any fund into which
you are exchanging before investing. Any new account established through an
exchange will have the same privileges as your original account (as long as they
are available). There is currently no fee for exchanges, although you may be
charged a sales load when exchanging into any fund that has one.

TELETRANSFER PRIVILEGE

To move money between your bank account and your Dreyfus fund account with a
phone call, use the TeleTransfer privilege. You can set up TeleTransfer on your
account by providing bank account information and following the instructions on
your application, or by contacting your financial representative.

REINVESTMENT PRIVILEGE

You can reinvest up to the number of Class A or Class B shares you sold within
45 days of selling them at the current share price without any sales charge. If
you paid a CDSC, it will be credited back to your account. This privilege may be
used only once.

ACCOUNT STATEMENTS

Every fund investor automatically receives regular account statements. You'll
also be sent a yearly statement detailing the tax characteristics of any
dividends and distributions you have received.

<PAGE>
----------------------------------

INSTRUCTIONS FOR REGULAR ACCOUNTS

TO OPEN AN ACCOUNT
- ------------------

[ICON] IN WRITING

Complete the application.
Mail your application and a check to:

The Dreyfus Family of Funds
P.O. Box 6587, Providence, RI 02940-6587
Attn: Institutional Processing

[ICON] BY TELEPHONE

WIRE Have your bank send your investment to The Bank of New York, with these
instructions:
o ABA#_______________
o DDA# ______________
o the fund name
o the share class
o your social security or tax ID number
o name(s) of investor(s)

Call us to obtain an account number.
Return your application with the account number on the application.

[ICON] AUTOMATICALLY

WITH AN INITIAL INVESTMENT indicate on your application which automatic
service(s) you want. Return your application with your investment.

TO ADD TO AN ACCOUNT
- --------------------

Fill out an investment slip, and write your account number on your check.

Mail the slip and the check to:

The Dreyfus Family of Funds
P.O. Box 6587, Providence, RI 02940-6587
Attn: Institutional Processing

WIRE Have your bank send your investment to The Bank of New York, with these
instructions:
o ABA #_________
o DDA #_________
o the fund name
o your account number
o name(s) of your investor(s)

ELECTRONIC CHECK Same as wire, but insert "1111" before your account number and
add ABA #______________

TELETRANSFER Request TeleTransfer on your application. Call us to request your
transaction.

ALL SERVICES Call us or your financial representative to request a form to add
any automatic investing service (see "Services for Fund Investors"). Complete
and return the form along with any other required materials.

<PAGE>

TO SELL SHARES
- --------------

Write a letter of instruction that includes:
o your name(s) and signature(s)
o your account number
o the fund name
o the dollar amount you want to sell
o the share class
o how and where to send the proceeds

Obtain a signature guarantee or other documentation, if required (see "Account
Policies--Selling Shares").

Mail your request to:

The Dreyfus Family of Funds
P.O. Box 6787, Providence, RI 02940-6587

WIRE Call your financial representative to request your transaction. Be sure the
fund has your bank account information on file. Proceeds will be wired to your
bank.

TELETRANSFER Call your financial representative to request your transaction. Be
sure the fund has your bank account information on file. Proceeds will be sent
to your bank by electronic check.

CHECK Call your financial representative to request your transaction. A check
will be sent to the address of record.

AUTOMATIC WITHDRAWAL PLAN Call us or your financial representative to request a
form to add the plan. Complete the form, specifying the amount and frequency of
withdrawals you would like.

[RIGHT SIDE BAR]

To open an account, make subsequent investments or to sell shares, please
contact your financial representative or call toll free in the U.S.

1-800-554-4611

Make checks payable to:

THE DREYFUS FAMILY OF FUNDS

CONCEPTS TO UNDERSTAND
- ----------------------

WIRE TRANSFER: for transferring money from one financial institution to another.
Wiring is the fastest way to move money, although your bank may charge a fee to
send or receive wire transfers. Wire redemptions from the fund are subject to a
$1,000 minimum.

ELECTRONIC CHECK: for transferring money out of a bank account. Your transaction
is entered electronically, but may take up to eight business days to clear.
Electronic checks usually are available without a fee at all Automated Clearing
House (ACH) banks.

----------------------------------

<PAGE>

INSTRUCTIONS FOR IRAS

TO OPEN AN ACCOUNT
- ------------------

[ICON] IN WRITING

Complete an IRA application, making sure to specify the fund name and to
indicate the year the contribution is for.
Mail your application and a check to:

The Dreyfus Trust Company, Custodian
P.O. Box 6427, Providence, RI 02940-6427

[ICON] BY TELEPHONE
------------

[ICON] AUTOMATICALLY
- ------- -------------------

TO ADD TO AN ACCOUNT
- --------------------

Fill out an investment slip, and write your account number on your check.
Indicate the year the contribution is for.

Mail the slip and the check to:

The Dreyfus Trust Company, Custodian
P.O. Box 6427, Providence, RI 02940-6427

WIRE Have your bank send your investment to The Bank of New York, with these
instructions:
o DDA #_____________
o the fund name
o the share class
o your account number
o name of investor
o the contribution year

ELECTRONIC CHECK Same as wire, but insert "1111" before your account number and
add ABA #________.

<PAGE>

TO SELL SHARES
- --------------

Write a letter of instruction that includes:
o your name and signature
o your account number
o the fund name
o the dollar amount you want to sell
o the share class
o how and where to send the proceeds
o whether the distribution is qualified or premature
o whether the 10% TEFRA should be withheld

Obtain a signature guarantee or other documentation, if required (see "Account
Policies--Selling Shares").

Mail your request to:

The Dreyfus Trust Company, Custodian
P.O. Box 6427, Providence, RI 02940-6427
- ------------ -------------

SYSTEMATIC WITHDRAWAL PLAN Call us to request instructions to establish the
plan.

[RIGHT SIDE BAR]

For information and assistance, contact your financial representative or call
toll free in the U.S.

1-800-554-4611

Make checks payable to:

DREYFUS TRUST CO., CUSTODIAN

CONCEPT TO UNDERSTAND
- ---------------------

----------------------------------

<PAGE>

FOR MORE INFORMATION

DREYFUS PREMIER EUROPEAN EQUITY FUND
A SERIES OF DREYFUS PREMIER INTERNATIONAL FUNDS, INC.
- -----------------------------------------------------
SEC file number: 811-6490

More information on this fund is available free upon request, including
the following:

STATEMENT OF ADDITIONAL INFORMATION (SAI)

The SAI provides more details about the fund and its policies. A
current SAI is on file with the Securities and Exchange Commission (SEC) and is
incorporated by reference (is legally considered part of this prospectus).

[LEFT SIDE BAR]

TO OBTAIN INFORMATION:

BY TELEPHONE
Call 1-800-554-4611

BY MAIL Write to:
The Dreyfus Premier Family of Funds
Attn: Institutional Servicing
144 Glenn Curtiss Boulevard
Uniondale, NY 11556-0144

BY E-MAIL Send your request to [email protected]

ON THE INTERNET Text-only versions of fund documents can be viewed
online or downloaded from:

SEC
http://www.sec.gov

DREYFUS
http://www.dreyfus.com

You can also obtain copies by visiting the SEC's Public Reference Room
in Washington, DC (phone 1-800-SEC-0330) or by sending your request and
a duplicating fee to the SEC's Public Reference Section, Washington, DC
20549-6009.

<PAGE>

- --------------------------------------------------------------------------------

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.

DREYFUS PREMIER EUROPEAN EQUITY FUND
DREYFUS PREMIER GLOBAL ALLOCATION FUND
DREYFUS PREMIER GREATER CHINA FUND
DREYFUS PREMIER INTERNATIONAL GROWTH FUND

CLASS A, CLASS B, CLASS C AND CLASS R SHARES
STATEMENT OF ADDITIONAL INFORMATION
__________, 1998

- --------------------------------------------------------------------------------

This Statement of Additional Information, which is not a prospectus,
supplements and should be read in conjunction with the current Prospectus of
Dreyfus Premier International Growth Fund, dated March 2, 1998, Dreyfus Premier
Greater China Fund, dated May 8, 1998, Dreyfus Premier Global Allocation Fund,
dated June 29, 1998, and Dreyfus Premier European Equity Fund, dated __________,
1998, (each, a "Fund" and collectively, the "Funds") of Dreyfus Premier
International Funds, Inc. (the "Company"), as each may be revised from time to
time. To obtain a copy of the relevant Fund's Prospectus, please write to the
Fund at 144 Glenn Curtiss Boulevard, Uniondale, New York 11556-0144.

The most recent Annual Report and Semi-Annual Report to Shareholders for
Dreyfus Premier International Growth Fund are separate documents supplied with
this Statement of Additional Information, and the financial statements,
accompanying notes and report of independent auditors appearing in the Annual
Report are incorporated by reference into this Statement of Additional
Information. The other Funds have not completed their first fiscal year.

TABLE OF CONTENTS
PAGE

Description of the Fund.............................................
Management of the Company...........................................
Management Arrangements.............................................
How to Buy Shares...................................................
Distribution Plan and Shareholder Services Plan.....................
How to Redeem Shares................................................
Shareholder Services................................................
Determination of Net Asset Value....................................
Dividends, Distributions and Taxes..................................
Portfolio Transactions..............................................
Performance Information.............................................
Information About the Company and the Funds.........................
Counsel and Independent Auditors....................................
Financial Statements and Reports of Independent Auditors............
Appendix............................................................

<PAGE>

DESCRIPTION OF THE FUND

The Company is a Maryland corporation formed on November 21, 1991. The
Company and each series thereof is an open-end management investment company,
known as a mutual fund. Dreyfus Premier Global Allocation Fund and Dreyfus
Premier European Equity Fund are diversified funds, which means that, with
respect to 75% of each Fund's total assets, the Fund will not invest more than
5% of its assets in the securities of any single issuer.

The Dreyfus Corporation (the "Manager") serves as each Fund's investment
adviser. The Manager has engaged Hamon U.S. Investment Advisors Limited
("Hamon") to serve as Dreyfus Premier Greater China Fund's sub-investment
adviser and has engaged Newton Capital Management Limited ("Newton") to serve as
Dreyfus Premier European Equity Fund's sub-investment adviser. Hamon and Newton
provide day-to-day management of the respective Fund's investments, subject to
the supervision of the Manager.

Premier Mutual Fund Services, Inc. (the "Distributor") is the distributor
of each Fund's shares.

CERTAIN PORTFOLIO SECURITIES
- ----------------------------

The following information supplements and should be read in conjunction
with each Fund's Prospectus, except as noted.

DEPOSITARY RECEIPTS. (All Funds) A Fund may invest in the securities of
foreign issuers in the form of American Depositary Receipts and American
Depositary Shares (collectively, "ADRs") and Global Depositary Receipts and
Global Depositary Shares (collectively, "GDRs") and other forms of depositary
receipts. These securities may not necessarily be denominated in the same
currency as the securities into which they may be converted. ADRs are receipts
typically issued by a United States bank or trust company which evidence
ownership of underlying securities issued by a foreign corporation. GDRs are
receipts issued outside the United States typically by non-United States banks
and trust companies that evidence ownership of either foreign or domestic
securities. Generally, ADRs in registered form are designed for use in the
United States securities markets and GDRs in bearer form are designed for use
outside the United States.

These securities may be purchased through "sponsored" or "unsponsored"
facilities. A sponsored facility is established jointly by the issuer of the
underlying security and a depositary, whereas a depositary may establish an
unsponsored facility without participation by the issuer of the deposited
security. Holders of unsponsored depositary receipts generally bear all the
costs of such facilities and the depositary of an unsponsored facility
frequently is under no obligation to distribute shareholder communications
received from the issuer of the deposited security or to pass through voting
rights to the holders of such receipts in respect of the deposited securities.

FOREIGN GOVERNMENT OBLIGATIONS; SECURITIES OF SUPRANATIONAL ENTITIES.
(All Funds) A Fund may invest in obligations issued or guaranteed by one or more
foreign governments or any of their political subdivisions, agencies or
instrumentalities that are determined by the Manager (or, if applicable, the
Fund's sub-investment adviser) to be of comparable quality to the other
obligations in which the Fund may invest. Such securities also include debt
obligations of supranational entities. Supranational entities include
international organizations designated or supported by governmental entities to
promote economic reconstruction or development and international banking
institutions and related government agencies. Examples include the International
Bank for Reconstruction and Development (the World Bank), the European Coal and
Steel Community, the Asian Development Bank and the InterAmerican Development
Bank.

CONVERTIBLE SECURITIES. (All Funds) Convertible securities are
fixed-income securities that may be converted at either a stated price or stated
rate into underlying shares of common stock. Convertible securities have
characteristics similar to both fixed-income and equity securities. Convertible
securities generally are subordinated to other similar but non-convertible
securities of the same issuer, although convertible bonds, as corporate debt
obligations, enjoy seniority in right of payment to all equity securities, and
convertible preferred stock is senior to common stock, of the same issuer.
Because of the subordination feature, however, convertible securities typically
have lower ratings than similar non-convertible securities.

Although to a lesser extent than with fixed-income securities generally,
the market value of convertible securities tends to decline as interest rates
rise and, conversely, tends to increase as interest rates decline. In addition,
because of the conversion feature, the market value of convertible securities
tends to vary with fluctuations in the market value of the underlying common
stock. A unique feature of convertible securities is that as the market price of
the underlying common stock declines, convertible securities tend to trade
increasingly on a yield basis, and so may not experience market value declines
to the same extent as the underlying common stock. When the market price of the
underlying common stock increases, the prices of the convertible securities tend
to rise as a reflection of the value of the underlying common stock. While no
securities investments are without risk, investments in convertible securities
generally entail less risk than investments in common stock of the same issuer.

Convertible securities are investments that provide for a stable stream
of income with generally higher yields than common stocks. There can be no
assurance of current income because the issuers of the convertible securities
may default on their obligations. A convertible security, in addition to
providing fixed income, offers the potential for capital appreciation through
the conversion feature, which enables the holder to benefit from increases in
the market price of the underlying common stock. There can be no assurance of
capital appreciation, however, because securities prices fluctuate. Convertible
securities, however, generally offer lower interest or dividend yields than
non-convertible securities of similar quality because of the potential for
capital appreciation.

WARRANTS. (All Funds) A warrant is an instrument issued by a corporation
which gives the holder the right to subscribe to a specified amount of the
corporation's capital stock at a set price for a specified period of time. A
Fund may invest up to 5% (2% with respect to Dreyfus Premier International
Growth Fund) of its net assets in warrants, except that this limitation does not
apply to warrants purchased by the Fund that are sold in units with, or attached
to, other securities.

ILLIQUID SECURITIES. (All Funds) A Fund may invest up to 15% of the value
of its net assets in securities as to which a liquid trading market does not
exist, provided such investments are consistent with the Fund's investment
objectives. Such securities may include securities that are not readily
marketable, such as certain securities that are subject to legal or contractual
restrictions on resale, repurchase agreements providing for settlement in more
than seven days notice, and certain privately negotiated, non-exchange traded
options and securities used to cover such options. As to these securities, the
Fund is subject to a risk that should the Fund desire to sell them when a ready
buyer is not available at a price the Fund deems representative of their value,
the value of the Fund's net assets could be adversely affected.

INVESTMENT COMPANIES. (All Funds) A Fund may invest in securities issued
by investment companies. Under the Investment Company Act of 1940, as amended
(the "1940 Act"), the Fund's investment in such securities, subject to certain
exceptions, currently is limited to (i) 3% of the total voting stock of any one
investment company, (ii) 5% of the Fund's total assets with respect to any one
investment company and (iii) 10% of the Fund's total assets in the aggregate.
Investments in the securities of other investment companies may involve
duplication of advisory fees and certain other expenses.

MONEY MARKET INSTRUMENTS. (All Funds) When the Manager (or, if
applicable, the Fund's sub-investment adviser) determines that adverse market
conditions exist, a Fund may adopt a temporary defensive position and invest
some or all of its assets in money market instruments, including U.S. Government
securities, repurchase agreements, bank obligations and commercial paper.

MORTGAGE-RELATED SECURITIES. (Dreyfus Premier International Growth Fund
only) Mortgage-related securities are a form of derivative security
collateralized by pools of mortgages. The mortgage-related securities which may
be purchased include those with fixed, floating or variable interest rates,
those with interest rates that change based on multiples of changes in interest
rates and those with interest rates that change inversely to changes in interest
rates, as well as stripped mortgage-backed securities. Stripped mortgage-backed
securities usually are structured with two classes that receive different
proportions of interest and principal distributions on a pool of mortgage-backed
securities or whole loans. A common type of stripped mortgage-backed security
will have one class receiving some of the interest and most of the principal
from the mortgage collateral, while the other class will receive most of the
interest and the remainder of the principal. Although certain mortgage-related
securities are guaranteed by a third party or otherwise similarly secured, the
market value of the security, which may fluctuate, is not so secured. If a
mortgage-related security is purchased at a premium, all or part of the premium
may be lost if there is a decline in the market value of the security, whether
resulting from changes in interest rates or prepayments in the underlying
mortgage collateral.

As with other interest-bearing securities, the prices of certain of these
securities are inversely affected by changes in interest rates. However,
although the value of a mortgage-related security may decline when interest
rates rise, the converse is not necessarily true, since in periods of declining
interest rates the mortgages underlying the security are more likely to be
prepaid. For this and other reasons, a mortgage-related security's stated
maturity may be shortened by unscheduled prepayments on the underlying mortgages
and, therefore, it is not possible to predict accurately the security's return
to the Fund. Moreover, with respect to stripped mortgage-backed securities, if
the underlying mortgage securities experience greater than anticipated
prepayments of principal, the Fund may fail to fully recoup its initial
investment in these securities even if the securities are rated in the highest
rating category by a nationally recognized statistical rating organization.

During periods of rapidly rising interest rates, prepayments of
mortgage-related securities may occur at slower than expected rates. Slower
prepayments effectively may lengthen a mortgage-related security's expected
maturity which generally would cause the value of such security to fluctuate
more widely in response to changes in interest rates. Were the prepayments on
the Fund's mortgage-related securities to decrease broadly, the Fund's effective
duration, and thus sensitivity to interest rate fluctuations, would increase.

The U.S. Government securities that the Fund may purchase include
mortgage-related securities, such as those issued by the Government National
Mortgage Association, the Federal Mortgage Association and the Federal Home Loan
Mortgage Corporation. The Fund also may invest in collateralized mortgage
obligations structured on pools of mortgage pass-through certificates or
mortgage loans. The Fund intends to invest less than 5% of its assets in
mortgage-related securities.

MUNICIPAL OBLIGATIONS. (Dreyfus Premier International Growth Fund only)
Municipal obligations are debt obligations issued by states, territories and
possessions of the United States and the District of Columbia and their
political subdivisions, agencies and instrumentalities, or multistate agencies
or authorities. Municipal obligations generally include debt obligations issued
to obtain funds for various public purposes as well as certain industrial
development bonds issued by or on behalf of public authorities. Municipal
obligations are classified as general obligation bonds, revenue bonds and notes.
General obligation bonds are secured by the issuer's pledge of its faith, credit
and taxing power for the payment of principal and interest. Revenue bonds are
payable from the revenue derived from a particular facility or class of
facilities or, in some cases, from the proceeds of a special excise or other
specific revenue source, but not from the general taxing power. Industrial
development bonds, in most cases, are revenue bonds and generally do not carry
the pledge of the credit of the issuing municipality, but generally are
guaranteed by the corporate entity on whose behalf they are issued. Notes are
short-term instruments which are obligations of the issuing municipalities or
agencies and are sold in anticipation of a bond sale, collection of taxes or
receipt of other revenues. Municipal obligations include municipal
lease/purchase agreements which are similar to installment purchase contracts
for property or equipment issued by municipalities. Municipal obligations bear
fixed, floating or variable rates of interest. Certain municipal obligations are
subject to redemption at a date earlier than their stated maturity pursuant to
call options, which may be separated from the related municipal obligations and
purchased and sold separately. The Fund also may acquire call options on
specific municipal obligations. The Fund generally would purchase these call
options to protect the Fund from the issuer of the related municipal obligation
redeeming, or other holder of the call option from calling away, the municipal
obligation before maturity.

While, in general, municipal obligations are tax exempt securities having
relatively low yields as compared to taxable, non-municipal obligations of
similar quality, certain issues of municipal obligations, both taxable and
non-taxable, offer yields comparable and in some cases greater than the yields
available on other permissible Fund investments. Dividends received by
shareholders on Fund shares which are attributable to interest income received
by the Fund from municipal obligations generally will be subject to Federal
income tax. The Fund will invest in municipal obligations, the ratings of which
correspond with the ratings of other permissible Fund investments. The Fund may
invest up to 25% of its assets in municipal obligations; however, it currently
intends to limit such investments to 5% of its assets. These percentages may be
varied from time to time without shareholder approval.

ZERO COUPON SECURITIES. (Dreyfus Premier International Growth Fund and
Dreyfus Premier Global Allocation Fund) Each of these Funds may invest in zero
coupon U.S. Treasury securities, which are Treasury Notes and Bonds that have
been stripped of their unmatured interest coupons, the coupons themselves and
receipts or certificates representing interests in such stripped debt
obligations and coupons. Each of these Funds also may invest in zero coupon
securities issued by corporations and financial institutions which constitute a
proportionate ownership of the issuer's pool of underlying U.S. Treasury
securities. A zero coupon security pays no interest to its holder during its
life and is sold at a discount to its face value at maturity. The amount of the
discount fluctuates with the market price of the security. The market prices of
zero coupon securities generally are more volatile than the market prices of
securities that pay interest periodically and are likely to respond to a greater
degree to changes in interest rates than non-zero coupon securities having
similar maturities and credit qualities. Each Fund currently intends to invest
less than 5% of its assets in zero coupon securities.

INVESTMENT TECHNIQUES
- ---------------------

The following information supplements and should be read in conjunction
with each Fund's Prospectus, except as noted.

FOREIGN CURRENCY TRANSACTIONS. (All Funds) Foreign currency transactions
may be entered into for a variety of purposes, including: to fix in U.S.
dollars, between trade and settlement date, the value of a security the Fund has
agreed to buy or sell; to hedge the U.S. dollar value of securities the Fund
already owns, particularly if it expects a decrease in the value of the currency
in which the foreign security is denominated; or to gain exposure to the foreign
currency in an attempt to realize gains.

Foreign currency transactions may involve, for example, a Fund's purchase
of foreign currencies for U.S. dollars or the maintenance of short positions in
foreign currencies, which would involve the Fund agreeing to exchange an amount
of a currency it did not currently own for another currency at a future date in
anticipation of a decline in the value of the currency sold relative to the
currency the Fund contracted to receive in the exchange. A Fund's success in
these transactions will depend principally on the ability of the Manager (or, if
applicable, the Fund's sub-investment adviser) to predict accurately the future
exchange rates between foreign currencies and the U.S. dollar.

Currency exchange rates may fluctuate significantly over short periods of
time. They generally are determined by the forces of supply and demand in the
foreign exchange markets and the relative merits of investments in different
countries, actual or perceived changes in interest rates and other complex
factors, as seen from an international perspective. Currency exchange rates also
can be affected unpredictably by intervention by U.S. or foreign governments or
central banks, or the failure to intervene, or by currency controls or political
developments in the United States or abroad.

LEVERAGE. (All Funds) Leveraging (that is, buying securities using
borrowed money) exaggerates the effect on net asset value of any increase or
decrease in the market value of a Fund's portfolio. These borrowings will be
subject to interest costs which may or may not be recovered by appreciation of
the securities purchased; in certain cases, interest costs may exceed the return
received on the securities purchased. For borrowings for investment purposes,
the 1940 Act requires a Fund to maintain continuous asset coverage (that is,
total assets including borrowings, less liabilities exclusive of borrowings) of
300% of the amount borrowed. If the required coverage should decline as a result
of market fluctuations or other reasons, the Fund may be required to sell some
of its portfolio holdings within three days to reduce the amount of its
borrowings and restore the 300% asset coverage, even though it may be
disadvantageous from an investment standpoint to sell securities at that time.
The Fund also may be required to maintain minimum average balances in connection
with such borrowing or pay a commitment or other fee to maintain a line of
credit; either of these requirements would increase the cost of borrowing over
the stated interest rate.

A Fund may enter into reverse repurchase agreements with banks, brokers
or dealers. This form of borrowing involves the transfer by the Fund of an
underlying debt instrument in return for cash proceeds based on a percentage of
the value of the security. The Fund retains the right to receive interest and
principal payments on the security. At an agreed upon future date, the Fund
repurchases the security at principal plus accrued interest. Except for these
transactions, a Fund's borrowings generally will be unsecured.

SHORT-SELLING. (All Funds) In these transactions, a Fund sells a security
it does not own in anticipation of a decline in the market value of the
security. To complete the transaction, the Fund must borrow the security to make
delivery to the buyer. The Fund is obligated to replace the security borrowed by
purchasing it subsequently at the market price at the time of replacement. The
price at such time may be more or less than the price at which the security was
sold by the Fund, which would result in a loss or gain, respectively.

Securities will not be sold short if, after effect is given to any such
short sale, the total market value of all securities sold short would exceed 25%
of the value of the relevant Fund's net assets.

A Fund also may make short sales "against the box," in which the Fund
enters into a short sale of a security it owns. At no time will more than 15% of
the value of a Fund's net assets be in deposits on short sales against the box.

Until the Fund closes its short position or replaces the borrowed
security, the Fund will: (a) maintain a segregated account, containing
permissible liquid assets, at such a level that the amount deposited in the
account plus the amount deposited with the broker as collateral always equals
the current value of the security sold short; or (b) otherwise cover its short
position.

DERIVATIVES. (All Funds) Each Fund may invest in, or enter into,
derivatives, such as options and futures and, with respect to Dreyfus Premier
International Growth Fund, mortgage-related securities.

Derivatives can be volatile and involve various types and degrees of
risk, depending upon the characteristics of the particular derivative and the
portfolio as a whole. Derivatives permit a Fund to increase or decrease the
level of risk, or change the character of the risk, to which its portfolio is
exposed in much the same way as the Fund can increase or decrease the level of
risk, or change the character of the risk, of its portfolio by making
investments in specific securities.

Derivatives may entail investment exposures that are greater than their
cost would suggest, meaning that a small investment in derivatives could have a
large potential impact on the Fund's performance.

If a Fund invests in derivatives at inopportune times or judges market
conditions incorrectly, such investments may lower the Fund's return or result
in a loss. The Fund also could experience losses if its derivatives were poorly
correlated with its other investments, or if the Fund were unable to liquidate
its position because of an illiquid secondary market. The market for many
derivatives is, or suddenly can become, illiquid. Changes in liquidity may
result in significant, rapid and unpredictable changes in the prices for
derivatives.

Although neither the Company nor any Fund will be a commodity pool,
certain derivatives subject the Funds to the rules of the Commodity Futures
Trading Commission which limit the extent to which a Fund can invest in such
derivatives. Each Fund may invest in futures contracts and options with respect
thereto for hedging purposes without limit. However, no Fund may invest in such
contracts and options for other purposes if the sum of the amount of initial
margin deposits and premiums paid for unexpired options with respect to such
contracts, other than for bona fide hedging purposes, exceeds 5% of the
liquidation value of the Fund's assets, after taking into account unrealized
profits and unrealized losses on such contracts and options; provided, however,
that in the case of an option that is in-the-money at the time of purchase, the
in-the-money amount may be excluded in calculating the 5% limitation.

Each Fund may purchase call and put options and write (i.e., sell)
covered call and put option contracts. When required by the Securities and
Exchange Commission, the Fund will set aside permissible liquid assets in a
segregated account to cover its obligations relating to its purchase of
derivatives. To maintain this required cover, the Fund may have to sell
portfolio securities at disadvantageous prices or times since it may not be
possible to liquidate a derivative position at a reasonable price.

Derivatives may be purchased on established exchanges or through
privately negotiated transactions referred to as over-the-counter derivatives.
Exchange-traded derivatives generally are guaranteed by the clearing agency
which is the issuer or counterparty to such derivatives. This guarantee usually
is supported by a daily payment system (i.e., variation margin requirements)
operated by the clearing agency in order to reduce overall credit risk. As a
result, unless the clearing agency defaults, there is relatively little
counterparty credit risk associated with derivatives purchased on an exchange.
By contrast, no clearing agency guarantees over-the-counter derivatives.
Therefore, each party to an over-the-counter derivative bears the risk that the
counterparty will default. Accordingly, the Manager (or, if applicable, the
Fund's sub-investment adviser) will consider the creditworthiness of
counterparties to over-the-counter derivatives in the same manner as it would
review the credit quality of a security to be purchased by the Fund.
Over-the-counter derivatives are less liquid than exchange-traded derivatives
since the other party to the transaction may be the only investor with
sufficient understanding of the derivative to be interested in bidding for it.

FUTURES TRANSACTIONS--IN GENERAL. Each Fund may enter into futures contracts in
U.S. domestic markets, such as the Chicago Board of Trade and the International
Monetary Market of the Chicago Mercantile Exchange, or on exchanges located
outside the United States, such as the London International Financial Futures
Exchange and the Sydney Futures Exchange Limited. Foreign markets may offer
advantages such as trading opportunities or arbitrage possibilities not
available in the United States. Foreign markets, however, may have greater risk
potential than domestic markets. For example, some foreign exchanges are
principal markets so that no common clearing facility exists and an investor may
look only to the broker for performance of the contract. In addition, any
profits that a Fund might realize in trading could be eliminated by adverse
changes in the exchange rate, or the Fund could incur losses as a result of
those changes. Transactions on foreign exchanges may include both commodities
which are traded on domestic exchanges and those which are not. Unlike trading
on domestic commodity exchanges, trading on foreign commodity exchanges is not
regulated by the Commodity Futures Trading Commission.

Engaging in these transactions involves risk of loss to the Fund which
could adversely affect the value of the Fund's net assets. Although each Fund
intends to purchase or sell futures contracts only if there is an active market
for such contracts, no assurance can be given that a liquid market will exist
for any particular contract at any particular time. Many futures exchanges and
boards of trade limit the amount of fluctuation permitted in futures contract
prices during a single trading day. Once the daily limit has been reached in a
particular contract, no trades may be made that day at a price beyond that limit
or trading may be suspended for specified periods during the trading day.
Futures contract prices could move to the limit for several consecutive trading
days with little or no trading, thereby preventing prompt liquidation of futures
positions and potentially subjecting the Fund to substantial losses.

Successful use of futures by a Fund also is subject to the ability of the
Manager (or, if applicable, the Fund's sub-investment adviser) to predict
correctly movements in the direction of the relevant market, and, to the extent
the transaction is entered into for hedging purposes, to ascertain the
appropriate correlation between the transaction being hedged and the price
movements of the futures contract. For example, if a Fund uses futures to hedge
against the possibility of a decline in the market value of securities held in
its portfolio and the prices of such securities instead increase, the Fund will
lose part or all of the benefit of the increased value of securities which it
has hedged because it will have offsetting losses in its futures positions.
Furthermore, if in such circumstances the Fund has insufficient cash, it may
have to sell securities to meet daily variation margin requirements. The Fund
may have to sell such securities at a time when it may be disadvantageous to do
so.

Pursuant to regulations and/or published positions of the Securities and
Exchange Commission, a Fund may be required to segregate permissible liquid
assets in connection with its commodities transactions in an amount generally
equal to the value of the underlying commodity. The segregation of such assets
will have the effect of limiting the Fund's ability otherwise to invest those
assets.

SPECIFIC FUTURES TRANSACTIONS. Each Fund may purchase and sell stock index
futures contracts. A stock index future obligates the Fund to pay or receive an
amount of cash equal to a fixed dollar amount specified in the futures contract
multiplied by the difference between the settlement price of the contract on the
contract's last trading day and the value of the index based on the stock prices
of the securities that comprise it at the opening of trading in such securities
on the next business day.

Each Fund may purchase and sell interest rate futures contracts. An
interest rate future obligates the Fund to purchase or sell an amount of a
specific debt security at a future date at a specific price.

Each Fund may purchase and sell currency futures. A foreign currency
future obligates the Fund to purchase or sell an amount of a specific currency
at a future date at a specific price.

OPTIONS--IN GENERAL. Each Fund may purchase and write (i.e., sell) call or put
options with respect to specific securities. A call option gives the purchaser
of the option the right to buy, and obligates the writer to sell, the underlying
security or securities at the exercise price at any time during the option
period, or at a specific date. Conversely, a put option gives the purchaser of
the option the right to sell, and obligates the writer to buy, the underlying
security or securities at the exercise price at any time during the option
period, or at a specific date.

A covered call option written by a Fund is a call option with respect to
which the Fund owns the underlying security or otherwise covers the transaction
by segregating cash or other securities. A put option written by a Fund is
covered when, among other things, cash or liquid securities having a value equal
to or greater than the exercise price of the option are placed in a segregated
account to fulfill the obligation undertaken. The principal reason for writing
covered call and put options is to realize, through the receipt of premiums, a
greater return than would be realized on the underlying securities alone. The
Fund receives a premium from writing covered call or put options which it
retains whether or not the option is exercised.

There is no assurance that sufficient trading interest to create a liquid
secondary market on a securities exchange will exist for any particular option
or at any particular time, and for some options no such secondary market may
exist. A liquid secondary market in an option may cease to exist for a variety
of reasons. In the past, for example, higher than anticipated trading activity
or order flow, or other unforeseen events, at times have rendered certain of the
clearing facilities inadequate and resulted in the institution of special
procedures, such as trading rotations, restrictions on certain types of orders
or trading halts or suspensions in one or more options. There can be no
assurance that similar events, or events that may otherwise interfere with the
timely execution of customers' orders, will not recur. In such event, it might
not be possible to effect closing transactions in particular options. If, as a
covered call option writer, a Fund is unable to effect a closing purchase
transaction in a secondary market, it will not be able to sell the underlying
security until the option expires or it delivers the underlying security upon
exercise or it otherwise covers its position.

SPECIFIC OPTIONS TRANSACTIONS. Each Fund may purchase and sell call and put
options in respect of specific securities (or groups or "baskets" of specific
securities) or stock indices listed on national securities exchanges or traded
in the over-the-counter market. An option on a stock index is similar to an
option in respect of specific securities, except that settlement does not occur
by delivery of the securities comprising the index. Instead, the option holder
receives an amount of cash if the closing level of the stock index upon which
the option is based is greater than, in the case of a call, or less than, in the
case of a put, the exercise price of the option. Thus, the effectiveness of
purchasing or writing stock index options will depend upon price movements in
the level of the index rather than the price of a particular stock.

Each Fund may purchase and sell call and put options on foreign currency.
These options convey the right to buy or sell the underlying currency at a price
which is expected to be lower or higher than the spot price of the currency at
the time the option is exercised or expires.

Each Fund may purchase cash-settlement options on interest rate swaps,
interest rate swaps denominated in foreign currency and equity index swaps in
pursuit of its investment objective. Interest rate swaps involve the exchange by
a Fund with another party of their respective commitments to pay or receive
interest (for example, an exchange of floating-rate payments for fixed-rate
payments) denominated in U.S. dollars or foreign currency. Equity index swaps
involve the exchange by a Fund with another party of cash flows based upon the
performance of an index or a portion of an index of securities which usually
includes dividends. A cash-settled option on a swap gives the purchaser the
right, but not the obligation, in return for the premium paid, to receive an
amount of cash equal to the value of the underlying swap as of the exercise
date. These options typically are purchased in privately negotiated transactions
from financial institutions, including securities brokerage firms.

Successful use by a Fund of options will be subject to the ability of the
Manager (or, if applicable, the Fund's sub-investment adviser) to predict
correctly movements in the prices of individual stocks, the stock market
generally, foreign currencies or interest rates. To the extent such predictions
are incorrect, a Fund may incur losses.

FUTURE DEVELOPMENTS. (All Funds) A Fund may take advantage of
opportunities in the area of options and futures contracts and options on
futures contracts and any other Derivatives which are not presently contemplated
for use by the Fund or which are not currently available but which may be
developed, to the extent such opportunities are both consistent with the Fund's
investment objective and legally permissible for the Fund. Before entering into
such transactions or making any such investment, the Fund will provide
appropriate disclosure in its Prospectus or Statement of Additional Information.

FORWARD COMMITMENTS. (All Funds) A Fund may purchase securities on a
forward commitment or when-issued basis, which means that delivery and payment
take place a number of days after the date of the commitment to purchase. The
payment obligation and the interest rate receivable on a forward commitment or
when-issued security are fixed when the Fund enters into the commitment, but the
Fund does not make payment until it receives delivery from the counterparty. The
Fund will commit to purchase such securities only with the intention of actually
acquiring the securities, but the Fund may sell these securities before the
settlement date if it is deemed advisable. The Fund will set aside in a
segregated account permissible liquid assets at least equal at all times to the
amount of the Fund's commitments.

Securities purchased on a forward commitment or when-issued basis are
subject to changes in value (generally changing in the same way, i.e.,
appreciating when interest rates decline and depreciating when interest rates
rise) based upon the public's perception of the creditworthiness of the issuer
and changes, real or anticipated, in the level of interest rates. Securities
purchased on a forward commitment or when-issued basis may expose a Fund to
risks because they may experience such fluctuations prior to their actual
delivery. Purchasing securities on a when-issued basis can involve the
additional risk that the yield available in the market when the delivery takes
place actually may be higher than that obtained in the transaction itself.
Purchasing securities on a forward commitment or when-issued basis when a Fund
is fully or almost fully invested may result in greater potential fluctuation in
the value of the Fund's net assets and its net asset value per share.

LENDING PORTFOLIO SECURITIES. (All Funds, except Dreyfus Premier Greater
China Fund) Each of these Funds may lend securities from its portfolio to
brokers, dealers and other financial institutions needing to borrow securities
to complete certain transactions. In connection with such loans, the Fund
continues to be entitled to payments in amounts equal to the dividends, interest
or other distributions payable on the loaned securities which affords the Fund
an opportunity to earn interest on the amount of the loan and at the same time
to earn income on the loaned securities' collateral. Loans of portfolio
securities may not exceed 33-1/3% of the value of the Fund's total assets, and
the Fund will receive collateral consisting of cash, U.S. Government securities
or irrevocable letters of credit which will be maintained at all times in an
amount equal to at least 100% of the current market value of the loaned
securities. Such loans are terminable by the Fund at any time upon specified
notice. The Fund might experience risk of loss if the institution with which it
has engaged in a portfolio loan transaction breaches its agreement with the
Fund. In connection with its securities lending transactions, the Fund may
return to the borrower or a third party which is unaffiliated with the Fund, and
which is acting as a "placing broker," a part of the interest earned from the
investment of collateral received for securities loaned.

INVESTMENT CONSIDERATIONS AND RISKS
- -----------------------------------

FOREIGN SECURITIES. (All Funds) Foreign securities markets generally are
not as developed or efficient as those in the United States. Securities of some
foreign issuers are less liquid and more volatile than securities of comparable
U.S. issuers. Similarly, volume and liquidity in most foreign securities markets
are less than in the United States and, at times, volatility of price can be
greater than in the United States.

Because evidences of ownership of foreign securities usually are held
outside the United States, a Fund investing in such securities will be subject
to additional risks which include possible adverse political and economic
developments, seizure or nationalization of foreign deposits and adoption of
governmental restrictions which might adversely affect or restrict the payment
of principal and interest on the foreign securities to investors located outside
the country of the issuer, whether from currency blockage or otherwise.
Moreover, foreign securities held by a Fund may trade on days when the Fund does
not calculate its net asset value and thus affect the Fund's net asset value on
days when investors have no access to the Fund.

Developing countries have economic structures that are generally less
diverse and mature, and political systems that are less stable, than those of
developed countries. The markets of developing countries may be more volatile
than the markets of more mature economies; however, such markets may provide
higher rates of return to investors. Many developing countries providing
investment opportunities for the Funds have experienced substantial, and in some
periods extremely high, rates of inflation for many years. Inflation and rapid
fluctuations in inflation rates have had and may continue to have adverse
effects on the economies and securities markets of certain of these countries.

Since foreign securities often are purchased with and payable in
currencies of foreign countries, the value of these assets as measured in U.S.
dollars may be affected favorably or unfavorably by changes in currency rates
and exchange control regulations.

LOWER RATED SECURITIES. (Dreyfus Premier International Growth Fund and
Dreyfus Premier Greater China Fund) Each of these Funds is permitted to invest
in higher yielding (and, therefore, higher risk) debt securities. These
securities include those rated below Baa by Moody's Investors Service, Inc.
("Moody's") and below BBB by Standard & Poor's Ratings Group ("S&P"), Fitch
IBCA, Inc. ("Fitch") and Duff & Phelps Credit Rating Co. ("Duff," and with the
other rating agencies, the "Rating Agencies") and, with respect to Dreyfus
Premier International Growth Fund, as low as Caa by Moody's or CCC by S&P, Fitch
or Duff, and, with respect to Dreyfus Premier Greater China Fund, as low as the
lowest rating assigned by the Rating Agencies. These securities are commonly
known as junk bonds and may be subject to certain risks and to greater market
fluctuations than lower yielding investment grade securities. These securities
are considered by the Rating Agencies to be, on balance, predominantly
speculative as to the payment of principal and interest and generally involve
more credit risk than investment grade securities. The retail market for these
securities may be less liquid than that of investment grade securities. Adverse
market conditions could make it difficult for the Fund to sell these securities
or could result in the Fund obtaining lower prices for these securities which
would adversely affect the Fund's net asset value. See "Appendix" for a general
description of the Rating Agencies' ratings. Although ratings may be useful in
evaluating the safety of interest and principal payments, they do not evaluate
the market value risk of these securities. A Fund will rely on the Manager's
(or, if applicable, the Fund's sub-investment adviser's) judgment, analysis and
experience in evaluating the creditworthiness of an issuer.

Companies that issue certain of these securities often are highly
leveraged and may not have available to them more traditional methods of
financing. Therefore, the risk associated with acquiring the securities of such
issuers generally is greater than is the case with the higher rated securities.
For example, during an economic downturn or a sustained period of rising
interest rates, highly leveraged issuers of these securities may not have
sufficient revenues to meet their interest payment obligations. The issuer's
ability to service its debt obligations also may be affected adversely by
specific corporate developments, forecasts, or the unavailability of additional
financing. The risk of loss because of default by the issuer is significantly
greater for the holders of these securities because such securities generally
are unsecured and often are subordinated to other creditors of the issuer.

Because there is no established retail secondary market for many of these
securities, a Fund may be able to sell such securities only to a limited number
of dealers or institutional investors. To the extent a secondary trading market
for these securities does exist, it generally is not as liquid as the secondary
market for higher rated securities. The lack of a liquid secondary market may
have an adverse impact on market price and yield and a Fund's ability to dispose
of particular issues when necessary to meet the Fund's liquidity needs or in
response to a specific economic event such as a deterioration in the
creditworthiness of the issuer. The lack of a liquid secondary market for
certain securities also may make it more difficult for a Fund to obtain accurate
market quotations for purposes of valuing the Fund's portfolio and calculating
its net asset value. Adverse publicity and investor perceptions, whether or not
based on fundamental analysis, may decrease the values and liquidity of these
securities. In such cases, judgment may play a greater role in valuation because
less reliable, objective data may be available.

These securities may be particularly susceptible to economic downturns.
It is likely that an economic recession could disrupt severely the market for
such securities and may have an adverse impact on the value of such securities.
In addition, it is likely that any such economic downturn could adversely affect
the ability of the issuers of such securities to repay principal and pay
interest thereon and increase the incidence of default for such securities.

A Fund may acquire these securities during an initial offering. Such
securities may involve special risks because they are new issues. No Fund has
any arrangement with any persons concerning the acquisition of such securities,
and the Manager (or, if applicable, the Fund's sub-investment adviser) will
review carefully the credit and other characteristics pertinent to such new
issues.

The credit risk factors pertaining to lower rated securities also apply
to lower rated zero coupon securities in which Dreyfus Premier International
Growth Fund may invest up to 5% of its net assets. Zero coupon securities carry
an additional risk in that, unlike securities which pay interest throughout the
period to maturity, the Fund will realize no cash until the cash payment date
unless a portion of such securities are sold and, if the issuer defaults, the
Fund may obtain no return at all on its investment. See "Dividends,
Distributions and Taxes."

INVESTMENT RESTRICTIONS
- -----------------------

Each Fund's investment objective is a fundamental policy, which cannot be
changed without approval by the holders of a majority (as defined in the 1940
Act) of the Fund's outstanding voting shares. In addition, the Funds have
adopted certain investment restrictions as fundamental policies and certain
other investment restrictions as non-fundamental policies, as described below.

DREYFUS PREMIER INTERNATIONAL GROWTH FUND ONLY. The Fund has adopted
investment restrictions numbered 1 through 12 as fundamental policies, which
cannot be changed without approval by the holders of a majority (as defined in
the 1940 Act) of the Fund's outstanding voting shares. Investment restriction
number 13 is not a fundamental policy and may be changed by vote of a majority
of the Company's Board members at any time. Dreyfus Premier International Growth
Fund may not:

1. Purchase securities of any company having less than three years'
continuous operations (including operations of any predecessors) if such
purchase would cause the value of the Fund's investments in all such companies
to exceed 5% of the value of its total assets.

2. Invest in commodities, except that the Fund may invest in futures
contracts and options on futures contracts as described in the Fund's Prospectus
and this Statement of Additional Information.

3. Purchase, hold or deal in real estate, real estate investment trust
securities, real estate limited partnership interests, or oil, gas or other
mineral leases or exploration or development programs, but the Fund may purchase
and sell securities that are secured by real estate and may purchase and sell
securities issued by companies that invest or deal in real estate.

4. Borrow money, except as described in the Fund's Prospectus and this
Statement of Additional Information. For purposes of this investment
restriction, the entry into options, futures contracts, including those relating
to indices, and options on futures contracts or indices shall not constitute
borrowing.

5. Pledge, mortgage or hypothecate its assets, except to the extent
necessary to secure permitted borrowings and to the extent related to the
deposit of assets in escrow in connection with writing covered put and call
options and the purchase of securities on a when-issued or delayed-delivery
basis and collateral and initial or variation margin arrangements with respect
to options, futures contracts, including those relating to indices, and options
on futures contracts or indices.

6. Lend any funds or other assets except through the purchase of a
portion of an issue of publicly distributed bonds, debentures or other debt
securities, or the purchase of bankers' acceptances and commercial paper of
corporations. However, the Fund may lend its portfolio securities in an amount
not to exceed 33-1/3% of the value of its total assets. Any loans of portfolio
securities will be made according to guidelines established by the Securities
and Exchange Commission and the Company's Board.

7. Act as an underwriter of securities of other issuers.

8. Purchase, sell or write puts, calls or combinations thereof, except as
described in the Fund's Prospectus and this Statement of Additional Information.

9. Purchase warrants in excess of 2% of its net assets. For purposes of
this restriction, such warrants shall be valued at the lower of cost or market,
except that warrants acquired by the Fund in units or attached to securities
shall not be included within this 2% restriction.

10. Issue any senior security (as such term is defined in Section 18(f)
of the 1940 Act), except as permitted in Investment Restriction Nos. 2, 4, 5 and
8.

11. Invest more than 25% of its assets in the securities of issuers in
any particular industry, provided that there shall be no limitation on the
purchase of obligations issued or guaranteed by the U.S. Government, its
agencies or instrumentalities.

12. Invest in the securities of a company for the purpose of exercising
management or control.

13. Enter into repurchase agreements providing for settlement in more
than seven days after notice or purchase securities which are illiquid, if, in
the aggregate, more than 15% of the value of the Fund's net assets would be so
invested.

* * *

DREYFUS PREMIER GREATER CHINA FUND ONLY. The Fund has adopted investment
restrictions numbered 1 through 8 as fundamental policies, which cannot be
changed without approval by the holders of a majority (as defined in the 1940
Act) of the Fund's outstanding voting shares. Investment restrictions numbered 9
and 10 are not fundamental policies and may be changed by vote of a majority of
the Company's Board members at any time. Dreyfus Premier Greater China Fund may
not:

1. Invest more than 25% of the value of its total assets in the
securities of issuers in any single industry, provided that there shall be no
limitation on the purchase of obligations issued or guaranteed by the U.S.
Government, its agencies or instrumentalities.

2. Invest in commodities, except that the Fund may purchase and sell
options, forward contracts, futures contracts, including those related to
indices, and options on futures contracts or indices.

3. Purchase, hold or deal in real estate, or oil, gas or other mineral
leases or exploration or development programs, but the Fund may purchase and
sell securities that are secured by real estate or issued by companies that
invest or deal in real estate or real estate investment trusts.

4. Borrow money, except to the extent permitted under the 1940 Act (which
currently limits borrowing to no more than 33-1/3% of the value of the Fund's
total assets). For purposes of this Investment Restriction, the entry into
options, forward contracts, futures contracts, including those relating to
indices, and options on futures contracts or indices shall not constitute
borrowing.

5. Make loans to others, except through the purchase of debt obligations
and the entry into repurchase agreements. However, the Fund may lend its
portfolio securities in an amount not to exceed 33-1/3% of the value of its
total assets. Any loans of portfolio securities will be made according to
guidelines established by the Securities and Exchange Commission and the
Company's Board.

6. Act as an underwriter of securities of other issuers, except to the
extent the Fund may be deemed an underwriter under the Securities Act of 1933,
as amended, by virtue of disposing of portfolio securities.

7. Issue any senior security (as such term is defined in Section 18(f) of
the 1940 Act), except to the extent the activities permitted in Investment
Restriction Nos. 2, 4, 8 and 9 may be deemed to give rise to a senior security.

8. Purchase securities on margin, but the Fund may make margin deposits
in connection with transactions in options, forward contracts, futures
contracts, including those related to indices, and options on futures contracts
or indices.

9. Pledge, mortgage or hypothecate its assets, except to the extent
necessary to secure permitted borrowings and to the extent related to the
purchase of securities on a when-issued or forward commitment basis and the
deposit of assets in escrow in connection with writing covered put and call
options and collateral and initial or variation margin arrangements with respect
to options, forward contracts, futures contracts, including those related to
indices, and options on futures contracts or indices.

10. Enter into repurchase agreements providing for settlement in more
than seven days after notice or purchase securities which are illiquid, if, in
the aggregate, more than 15% of the value of the Fund's net assets would be so
invested.

* * *

DREYFUS PREMIER GLOBAL ALLOCATION FUND AND DREYFUS PREMIER EUROPEAN
EQUITY FUND. Each of these Funds has adopted investment restrictions numbered 1
through 10 as fundamental policies, which cannot be changed, as to a Fund,
without approval by the holders of a majority (as defined in the 1940 Act) of
the Fund's outstanding voting shares. Investment restrictions numbered 11
through 13 are not fundamental policies and may be changed by vote of a majority
of the Company's Board members at any time. Neither of these Funds may:

2. Invest more than 5% of its assets in the obligations of any one
issuer, except that up to 25% of the value of the Fund's total assets may be
invested, and securities issued or guaranteed by the U.S. Government or its
agencies or instrumentalities may be purchased, without regard to any such
limitations.

3. Purchase the securities of any issuer if such purchase would cause the
Fund to hold more than 10% of the voting securities of such issuer. This
restriction applies only with respect to 75% of the Fund's total assets.

4. Invest in commodities, except that the Fund may purchase and sell
options, forward contracts, futures contracts, including those related to
indices, and options on futures contracts or indices.

5. Purchase, hold or deal in real estate, or oil, gas or other mineral
leases or exploration or development programs, but the Fund may purchase and
sell securities that are secured by real estate or issued by companies that
invest or deal in real estate or real estate investment trusts.

6. Borrow money, except to the extent permitted under the 1940 Act (which
currently limits borrowing to no more than 33-1/3% of the value of the Fund's
total assets). For purposes of this Investment Restriction, the entry into
options, forward contracts, futures contracts, including those relating to
indices, and options on futures contracts or indices shall not constitute
borrowing.

7. Make loans to others, except through the purchase of debt obligations
and the entry into repurchase agreements. However, the Fund may lend its
portfolio securities in an amount not to exceed 33-1/3% of the value of its
total assets. Any loans of portfolio securities will be made according to
guidelines established by the Securities and Exchange Commission and the
Company's Board.

8. Act as an underwriter of securities of other issuers, except to the
extent the Fund may be deemed an underwriter under the Securities Act of 1933,
as amended, by virtue of disposing of portfolio securities.

9. Issue any senior security (as such term is defined in Section 18(f) of
the 1940 Act), except to the extent the activities permitted in Investment
Restriction Nos. 4, 6, 10 and 11 may be deemed to give rise to a senior
security.

10. Purchase securities on margin, but the Fund may make margin deposits
in connection with transactions in options, forward contracts, futures
contracts, including those related to indices, and options on futures contracts
or indices.

11. Pledge, mortgage or hypothecate its assets, except to the extent
necessary to secure permitted borrowings and to the extent related to the
purchase of securities on a when-issued or forward commitment basis and the
deposit of assets in escrow in connection with writing covered put and call
options and collateral and initial or variation margin arrangements with respect
to options, forward contracts, futures contracts, including those related to
indices, and options on futures contracts or indices.

12. Invest in the securities of a company for the purpose of exercising
management or control, but the Fund will vote the securities it owns as a
shareholder in accordance with its views.

* * *

If a percentage restriction is adhered to at the time of investment, a
later increase or decrease in percentage resulting from a change in values or
assets will not constitute a violation of such restriction.

MANAGEMENT OF THE COMPANY

The Company's Board is responsible for the management and supervision of
each Fund. The Board approves all significant agreements with those companies
that furnish services to the Fund. These companies are as follows:

The Dreyfus Corporation.................... Investment Adviser
Hamon U.S. Investment Advisors
Limited.................................. Sub-Investment Adviser to Dreyfus
Premier Greater China Fund
Newton Capital Management
Limited.................................. Sub-Investment Adviser to Dreyfus
Premier European Equity Fund
Premier Mutual Fund Services, Inc.......... Distributor
Dreyfus Transfer, Inc...................... Transfer Agent
The Bank of New York....................... Custodian

Board members and officers of the Company, together with information as
to their principal business occupations during at least the last five years, are
shown below. Each Board member who is deemed to be an "interested person" of the
Company (as defined in the 1940 Act) is indicated by an asterisk.

BOARD MEMBERS OF THE COMPANY

JOSEPH S. DiMARTINO, CHAIRMAN OF THE BOARD. Since January 1995, Chairman of
the Board of various funds in the Dreyfus Family of Funds. He is a
director of Noel Group, Inc., a venture capital company (for which,
from February 1995 until November 1997, he was Chairman of the Board),
The Muscular Dystrophy Association, HealthPlan Services Corporation, a
provider of marketing, administrative and risk management services to
health and other benefit programs, Carlyle Industries, Inc. (formerly,
Belding Heminway Company, Inc.), a button packager and distributor,
Century Business Services, Inc. (formerly, International Alliance
Services, Inc.), a provider of various outsourcing functions for small
and medium sized companies, and Career Blazers Inc. (formerly, Staffing
Resources, Inc.), a temporary placement agency. For more than five
years prior to January 1995, he was President, a director and, until
August 1994, Chief Operating Officer of the Manager and Executive Vice
President and a director of Dreyfus Service Corporation, a wholly-owned
subsidiary of the Manager and, until August 24, 1994, the Company's
distributor. From August 1994 until December 31, 1994, he was a
director of Mellon Bank Corporation. He is 55 years old and his address
is 200 Park Avenue, New York, New York 10166.

GORDON J. DAVIS, BOARD MEMBER. Since October 1994, senior partner with the law
firm of LeBoeuf, Lamb, Greene & MacRae. From 1983 to September 1994,
Mr. Davis was a senior partner with the law firm of Lord Day & Lord,
Barrett Smith. From 1978 to 1983, he was Commissioner of Parks and
Recreation for the City of New York. He also is a Director of
Consolidated Edison, a utility company, and Phoenix Home Life Insurance
Company and a member of various other corporate and not-for-profit
boards. He is 56 years old and his address is 241 Central Park West,
New York, New York 10024.

DAVID P. FELDMAN, BOARD MEMBER. Trustee of Corporate Property Investors, a
real estate investment company, and a director of several mutual funds
in the 59 Wall Street Mutual Funds Group, and of the Jeffrey Company, a
private investment company. He was employed by AT&T from July 1961 to
his retirement in April 1997, most recently serving as Chairman and
Chief Executive Officer of AT&T Investment Management Corporation. He
is 59 years old and his address is c/o AT&T, One Oak Way, Berkeley
Heights, New Jersey 07922.

LYNN MARTIN, BOARD MEMBER. Professor, J.L. Kellogg Graduate School of
Management, Northwestern University. During the Spring Semester 1993,
she was a Visiting Fellow at the Institute of Politics, Kennedy School
of Government, Harvard University. She also is an advisor to the
international accounting firm of Deloitte & Touche, LLP and chair of
its Council for the Advancement of Women. From January 1991 through
January 1993, Ms. Martin served as Secretary of the United States
Department of Labor. From 1981 to 1991, she served in the United States
House of Representatives as a Congresswoman from the State of Illinois.
She also is a Director of Harcourt General, Inc., Ameritech, Ryder
System, Inc., The Proctor & Gamble Co., a consumer company, and TRW,
Inc., an aerospace and automotive equipment company. She is 57 years
old and her address is c/o Deloitte & Touche, LLP, Two Prudential
Plaza, 180 N. Stetson Avenue, Chicago, Illinois 60601.

DANIEL ROSE, BOARD MEMBER. President and Chief Executive Officer of Rose
Associates, Inc., a New York based real estate development and
management firm. In July 1994, Mr. Rose received a Presidential
appointment to serve as a Director of the Baltic-American Enterprise
Fund, which will make equity investments and loans, and provide
technical business assistance to new business concerns in the Baltic
states. He also is Chairman of the Housing Committee of the Real Estate
Board of New York, Inc., and a trustee of Corporate Property Investors,
a real estate company. He is 67 years old and his address is c/o Rose
Associates, Inc., 200 Madison Avenue, New York, New York 10016.

*PHILIP L. TOIA, BOARD MEMBER. Retired. Mr. Toia was employed by the Manager
from August 1986 through January 1997, most recently serving as Vice
Chairman, Administration and Operations. He is 64 years old and his
address is 9022 Michael Circle, Apt. 1, Naples, Florida 34113.

SANDER VANOCUR, BOARD MEMBER. Since January 1992, President of Old Owl
Communications, a full-service communications firm. From May 1995 to
June 1996, Mr. Vanocur was a Professional in Residence at the Freedom
Forum in Arlington, VA, from January 1994 to May 1995, he served as
Visiting Professional Scholar at the Freedom Forum Amendment Center at
Vanderbilt University, and from November 1989 to November 1995, he was
a director of the Damon Runyon-Walter Winchell Cancer Research Fund.
From June 1977 to December 1991, he was a Senior Correspondent of ABC
News and, from October 1986 to December 1991, he was Anchor of the ABC
News program "Business World," a weekly business program on the ABC
television network. He is 69 years old and his address is 2928 P
Street, N.W., Washington, DC 20007.

ANNE WEXLER, BOARD MEMBER. Chairman of the Wexler Group, consultants
specializing in government relations and public affairs. She also is a
director of Alumax, Comcast Corporation, The New England Electric
System, NOVA Corporation and a member of the board of the Carter Center
of Emory University, the Council of Foreign Relations, the National
Park Foundation, Visiting Committee of the John F. Kennedy School of
Government at Harvard University and is a Board member of the Economic
Club of Washington. She is 67 years old and her address is c/o The
Wexler Group, 1317 F Street, Suite 600, N.W., Washington, DC 20004.

REX WILDER, BOARD MEMBER. Financial Consultant. He is 77 years old and his
address is 290 Riverside Drive, New York, New York 10025.

For so long as the Company's plans described in the section captioned
"Distribution Plan and Shareholder Services Plan" remain in effect, the Board
members who are not "interested persons" of the Company, as defined in the 1940
Act, will be selected and nominated by the Board members who are not "interested
persons" of the Company.

The Company typically pays its Board members an annual retainer and a per
meeting fee and reimburses them for their expenses. The Chairman of the Board
receives an additional 25% of such compensation. Emeritus Board members are
entitled to receive an annual retainer and a per meeting fee of one-half the
amount paid to them as Board members. The aggregate amount of compensation paid
to each Board member by the Company for the fiscal year ended October 31, 1997,
and by all other funds in the Dreyfus Family of Funds for which such person is a
Board member (the number of which is set forth in parenthesis next to each Board
member's total compensation) for the year ended December 31, 1997, was as
follows:

Total Compensation from
Aggregate Compensation Company and Fund Complex
Name of Board Member From Company* Paid to Board Member
- -------------------- ---------------------- ------------------------

Gordon J. Davis $2,000 $8,536 (26)

Joseph S. DiMartino $2,813 $597,124 (94)

David P. Feldman $2,500 $129,375 (37)

Lynn Martin $2,000 $41,666 (12)

Daniel Rose $2,500 $84,593 (22)

Philip L. Toia** $277 $30,444(11)

Sander Vanocur $2,250 $77,093 (22)

Anne Wexler $2,500 $62,034 (17)

Rex Wilder $2,500 $42,666 (12)

- ---------------------------
* Amount does not include reimbursed expenses for attending Board
meetings, which amounted to $927 for all Board members as a group.
** Board member since October 22, 1997.

OFFICERS OF THE COMPANY

MARIE E. CONNOLLY, PRESIDENT AND TREASURER. President, Chief Executive
Officer, Chief Compliance Officer and a director of the Distributor and
Funds Distributor, Inc., the ultimate parent of which is Boston
Institutional Group, Inc., and an officer of other investment companies
advised or administered by the Manager. She is 40 years old.

MARGARET W. CHAMBERS, VICE PRESIDENT AND SECRETARY. Senior Vice President and
General Counsel of Funds Distributor, Inc., and an officer of other
investment companies advised or administered by the Manager. From
August 1996 to March 1998, she was Vice President and Assistant General
Counsel for Loomis, Sayles & Company, L.P. From January 1986 to July
1996, she was an associate with the law firm of Ropes & Gray. She is 38
years old.

MICHAEL S. PETRUCELLI, VICE PRESIDENT, ASSISTANT SECRETARY AND ASSISTANT
TREASURER. Senior Vice President of Funds Distributor, Inc., and an
officer of other investment companies advised or administered by the
Manager. From December 1989 through November 1996, he was employed by
GE Investments where he held various financial, business development
and compliance positions. He also served as Treasurer of the GE Funds
and as a Director of GE Investment Services. He is 36 years old.

STEPHANIE D. PIERCE, VICE PRESIDENT, ASSISTANT SECRETARY AND ASSISTANT
TREASURER. Vice President and Client Development Manager of Funds
Distributor, Inc., and an officer of other investment companies advised
or administered by the Manager. From April 1997 to March 1998, she was
employed as a Relationship Manager with Citibank, N.A. From August 1995
to April 1997, she was an Assistant Vice President with Hudson Valley
Bank, and from September 1990 to August 1995, she was Second Vice
President with Chase Manhattan Bank. She is 30 years old.

MARY A. NELSON, VICE PRESIDENT AND ASSISTANT TREASURER. Vice President of
the Distributor and Funds Distributor, Inc., and an officer of other
investment companies advised or administered by the Manager. From
September 1989 to July 1994, she was an Assistant Vice President and
Client Manager for The Boston Company, Inc. She is 33 years old.

GEORGE A. RIO, VICE PRESIDENT AND ASSISTANT TREASURER. Executive Vice
President and Client Service Director of Funds Distributor, Inc., and
an officer of other investment companies advised or administered by the
Manager. From June 1995 to March 1998, he was Senior Vice President and
Senior Key Account Manager for Putnam Mutual Funds. From May 1994 to
June 1995, he was Director of Business Development for First Data
Corporation. From September 1983 to May 1994, he was Senior Vice
President and Manager of Client Services and Director of Internal Audit
at The Boston Company, Inc. He is 43 years old.

JOSEPH F. TOWER, III, VICE PRESIDENT AND ASSISTANT TREASURER. Senior Vice
President, Treasurer, Chief Financial Officer and a director of the
Distributor and Funds Distributor, Inc., and an officer of other
investment companies advised or administered by the Manager. From July
1988 to August 1994, he was employed by The Boston Company, Inc. where
he held various management positions in the Corporate Finance and
Treasury areas. He is 35 years old.

DOUGLAS C. CONROY, VICE PRESIDENT AND ASSISTANT SECRETARY. Assistant Vice
President of Funds Distributor, Inc., and an officer of other
investment companies advised or administered by the Manager. From April
1993 to January 1995, he was a Senior Fund Accountant for Investors
Bank & Trust Company. From December 1991 to March 1993, he was employed
as a Fund Accountant at The Boston Company, Inc. He is 28 years old.

CHRISTOPHER J. KELLEY, VICE PRESIDENT AND ASSISTANT SECRETARY. Vice President
and Senior Associate General Counsel of the Distributor and Funds
Distributor, Inc., and an officer of other investment companies advised
or administered by the Manager. From April 1994 to July 1996, he was
Assistant Counsel at Forum Financial Group. From October 1992 to March
1994, he was employed by Putnam Investments in legal and compliance
capacities. He is 33 years old.

KATHLEEN K. MORRISEY, VICE PRESIDENT AND ASSISTANT SECRETARY. Manager of
Treasury Services Administration of Funds Distributor, Inc., and an
officer of other investment companies advised or administered by the
Manager. From July 1994 to November 1995, she was a Fund Accountant for
Investors Bank & Trust Company. She is 25 years old.

ELBA VASQUEZ, VICE PRESIDENT AND ASSISTANT SECRETARY. Assistant Vice
President of Funds Distributor, Inc., and an officer of other
investment companies advised or administered by the Manager. From March
1990 to May 1996, she was employed by U.S. Trust Company of New York,
where she held various sales and marketing positions. She is 36 years
old.

The address of each officer of the Company is 200 Park Avenue, New York,
New York 10166.

The Company's Board members and officers, as a group, owned less than 1%
of each Fund's shares outstanding on October __, 1998.

The following shareholders owned of record 5% or more of the indicated
Fund's shares outstanding on October __, 1998: [To be provided].

MANAGEMENT ARRANGEMENTS

MANAGEMENT AGREEMENT. The Manager is a wholly-owned subsidiary of Mellon
Bank, N.A., which is a wholly-owned subsidiary of Mellon Bank Corporation
("Mellon"). Mellon is a publicly owned multibank holding company incorporated
under Pennsylvania law in 1971 and registered under the Federal Bank Holding
Company Act of 1956, as amended. Mellon provides a comprehensive range of
financial products and services in domestic and selected international markets.
Mellon is among the twenty-five largest bank holding companies in the United
States based on total assets.

The Manager provides management services pursuant to the Management
Agreement (the "Agreement") with the Company dated August 24, 1994, as amended
January 12, 1998. As to each Fund, the Agreement is subject to annual approval
by (i) the Company's Board or (ii) vote of a majority (as defined in the 1940
Act) of the outstanding voting securities of the Fund, provided that in either
event the continuance also is approved by a majority of the Board members who
are not "interested persons" (as defined in the 1940 Act) of the Fund or the
Manager, by vote cast in person at a meeting called for the purpose of voting on
such approval. With respect to Dreyfus Premier International Growth Fund, the
Agreement was approved by the Fund's shareholders on August 3, 1994, and was
last approved by the Company's Board, including a majority of the Board members
who are not "interested persons" of any party to the Agreement, at a meeting
held on July 14, 1997. With respect to Dreyfus Premier Greater China Fund,
Dreyfus Premier Global Allocation Fund and Dreyfus Premier European Equity Fund,
the Agreement was approved by the respective Fund's initial shareholder on May
8, 1998, June 26, 1998 and October __, 1998, respectively, and by the Company's
Board, including a majority of the Board members who are not "interested
persons" of any party to the Agreement, at a meeting held on January 12, 1998,
June 29, 1998 and October __, 1998, respectively. As to each Fund, the Agreement
is terminable without penalty, on 60 days' notice, by the Company's Board or by
vote of the holders of a majority of the Fund's shares, or, on not less than 90
days' notice, by the Manager. The Agreement will terminate automatically, as to
the relevant Fund, in the event of its assignment (as defined in the 1940 Act).

The following persons are officers and/or directors of the Manager: W.
Keith Smith, Chairman of the Board; Christopher M. Condron, President, Chief
Executive Officer, Chief Operating Officer and a director; Stephen E. Canter,
Vice Chairman, Chief Investment Officer and a director; Lawrence S. Kash, Vice
Chairman--Distribution and a director; Ronald P. O'Hanley III, Vice Chairman; J.
David Officer, Vice Chairman and a director; William T. Sandalls, Jr., Executive
Vice President; Mark N. Jacobs, Vice President, General Counsel and Secretary;
Patrice M. Kozlowski, Vice President--Corporate Communications; Mary Beth
Leibig, Vice President--Human Resources; Andrew S. Wasser, Vice
President--Information Systems; Wendy Strutt, Vice President; Richard Terres,
Vice President; William H. Maresca, Controller; James Bitetto, Assistant
Secretary; Steven F. Newman, Assistant Secretary; and Mandell L. Berman, Burton
C. Borgelt, Frank V. Cahouet and Richard F. Syron, directors.

SUB-INVESTMENT ADVISORY AGREEMENTS. With respect to Dreyfus Premier
Greater China Fund, the Manager has entered into a Sub-Investment Advisory
Agreement (the "Hamon Sub-Advisory Agreement") with Hamon dated January 12,
1998. As to such Fund, the Hamon Sub-Advisory Agreement is subject to annual
approval by (i) the Company's Board or (ii) vote of a majority (as defined in
the 1940 Act) of the Fund's outstanding voting securities, provided that in
either event the continuance also is approved by a majority of the Board members
who are not "interested persons" (as defined in the 1940 Act) of the Fund or
Hamon, by vote cast in person at a meeting called for the purpose of voting on
such approval. The Hamon Sub- Advisory Agreement is terminable without penalty,
(i) by the Hamon on 60 days' notice, (ii) by the Company's Board or by vote of
the holders of a majority of the Fund's outstanding voting securities on 60
days' notice, or (iii) upon not less than 90 days' notice, by Hamon. The Hamon
Sub-Advisory Agreement will terminate automatically in the event of its
assignment (as defined in the 1940 Act).

The following persons are officers and/or directors of Hamon: Hugh A.
Simon, James R. F. Donald and Alfredo P. Lobo.

With respect to Dreyfus Premier European Equity Fund, the Manager has
entered into a Sub-Investment Advisory Agreement (the "Newton Sub-Advisory
Agreement") with Newton dated October __, 1998. As to such Fund, the Newton
Sub-Advisory Agreement is subject to annual approval by (i) the Company's Board
or (ii) vote of a majority (as defined in the 1940 Act) of the Fund's
outstanding voting securities, provided that in either event the continuance
also is approved by a majority of the Board members who are not "interested
persons" (as defined in the 1940 Act) of the Fund or Newton, by vote cast in
person at a meeting called for the purpose of voting on such approval. The
Newton Sub-Advisory Agreement is terminable without penalty, (i) by the Manager
on 60 days' notice, (ii) by the Company's Board or by vote of the holders of a
majority of the Fund's outstanding voting securities on 60 days' notice, or
(iii) upon not less than 90 days' notice, by Newton. The Newton Sub-Advisory
Agreement will terminate automatically in the event of its assignment (as
defined in the 1940 Act).

The following persons are officers and/or directors of Newton: [To be
provided].

The Manager manages each Fund's portfolio of investments in accordance
with the stated policies of the Fund, subject to the approval of the Company's
Board. Hamon, with respect to Dreyfus Premier Greater China Fund, and Newton,
with respect to Dreyfus Premier European Equity Fund, provides day-to-day
management of the Fund's investments, subject to the supervision of the Manager
and the Company's Board. Each Fund's adviser is responsible for investment
decisions, and provides the Fund with portfolio managers who are authorized by
the Board to execute purchases and sales of securities. Dreyfus Premier
International Growth Fund's portfolio manager is Ronald Chapman, Dreyfus Premier
Greater China Fund's portfolio manager is Mandy Tong, Dreyfus Premier Global
Allocation Fund's portfolio manager is Charlie Jacklin, and Dreyfus Premier
European Equity Fund's portfolio managers are Joanna Bowen and Kiernan
Gallagher.

The Manager, Hamon and Newton maintain research departments with
professional portfolio managers and securities analysts who provide research
services for the Funds and for other funds advised by the Manager, Hamon or
Newton.

EXPENSES. All expenses incurred in the operation of the Company are borne
by the Company, except to the extent specifically assumed by the Manager (or, if
applicable, the Fund's sub-investment adviser). The expenses borne by the
Company include: organizational costs, taxes, interest, loan commitment fees,
distributions and interest paid on securities sold short, brokerage fees and
commissions, if any, fees of Board members who are not officers, directors,
employees or holders of 5% or more of the outstanding voting securities of the
Manager or any sub-investment adviser or any affiliates thereof, Securities and
Exchange Commission fees, state Blue Sky qualification fees, advisory fees,
charges of custodians, transfer and dividend disbursing agents' fees, certain
insurance premiums, industry association fees, outside auditing and legal
expenses, costs of maintaining the Company's existence, costs of independent
pricing services, costs attributable to investor services (including, without
limitation, telephone and personnel expenses), costs of preparing and printing
prospectuses and statements of additional information for regulatory purposes
and for distribution to existing shareholders, costs of shareholders' reports
and corporate meetings, and any extraordinary expenses. In addition, each Fund's
Class B and Class C shares are subject to an annual distribution fee and Class
A, Class B and Class C shares are subject to an annual service fee. See
"Distribution Plan and Shareholder Services Plan." Expenses attributable to a
particular Fund are charged against the assets of that Fund; other expenses of
the Company are allocated among the Funds on the basis determined by the Board,
including, but not limited to, proportionately in relation to the net assets of
each Fund.

The Manager maintains office facilities on behalf of the Company, and
furnishes statistical and research data, clerical help, data processing,
bookkeeping and internal auditing and certain other required services to the
Company. The Manager also may make such advertising and promotional
expenditures, using its own resources, as it from time to time deems
appropriate.

As compensation for the Manager's services to the Company, the Company has
agreed to pay the Manager a monthly management fee at the annual rate of .75 of
1% of the value of Dreyfus Premier International Growth Fund's average daily net
assets, 1.00% of the value of Dreyfus Premier Global Allocation Fund's average
daily net assets, 1.25% of the value of each of Dreyfus Premier Greater China
Fund's and ___% Dreyfus Premier European Equity Fund's average daily net assets.
All fees and expenses are accrued daily and deducted before declaration of
distributions to shareholders. With respect to Dreyfus Premier International
Growth Fund, the management fees paid for the fiscal years ended October 31,
1995, 1996 and 1997 amounted to $1,095,386, $1,093,156 and $1,035,613,
respectively.

As compensation for Hamon's services, the Manager has agreed to pay Hamon
a monthly sub-advisory fee at the annual rate of .625 of 1% of the value of
Dreyfus Premier Greater China Fund's average daily net assets.

As compensation for Newton's services, the Manager has agreed to pay
Newton a monthly sub-advisory fee at the annual rate set forth below as a
percentage of Dreyfus Premier European Equity Fund's average daily net assets:

Dreyfus Premier Greater China Fund, Dreyfus Premier Global Allocation
Fund and Dreyfus Premier European Equity Fund have not completed their first
fiscal year.

As to each Fund, the Manager has agreed that if in any fiscal year the
aggregate expenses of the Fund, exclusive of taxes, brokerage, interest on
borrowings and (with the prior written consent of the necessary state securities
commissions) extraordinary expenses, but including the management fee, exceed
the expense limitation of any state having jurisdiction over the Fund, the Fund
may deduct from the payment to be made to the Manager under the Agreement, or
the Manager will bear, such excess expense to the extent required by state law.
Such deduction or payment, if any, will be estimated daily, and reconciled and
effected or paid, as the case may be, on a monthly basis.

The aggregate of the fees payable to the Manager is not subject to
reduction as the value of a Fund's net assets increases.

THE DISTRIBUTOR. Premier Mutual Fund Services, Inc. (the "Distributor"),
located at 60 State Street, Boston, Massachusetts 02109, serves as each Fund's
distributor on a best efforts basis pursuant to an agreement with the Company
which is renewable annually.

With respect to Dreyfus Premier International Growth Fund, for the fiscal
years ended October 31, 1995, 1996 and 1997, the Distributor retained $2,923,
$2,169 and $3,150, respectively, from sales loads on Class A shares of such
Fund. For the same periods, the Distributor retained $302,230, $145,620 and
$216,611 from contingent deferred sale charges ("CDSC") on Class B shares and
$0, $0 and $30 from the CDSC on Class C shares of Dreyfus Premier International
Growth Fund.

Dreyfus Premier Greater China Fund, Dreyfus Premier Global Allocation
Fund and Dreyfus Premier European Equity Fund have not completed their first
fiscal year.

The Distributor may pay dealers a fee of up to .5% of the amount invested
through such dealers in Fund shares by employees participating in qualified or
non-qualified employee benefit plans or other programs where (i) the employers
or affiliated employers maintaining such plans or programs have a minimum of 250
employees eligible for participation in such plans or programs or (ii) such
plan's or program's aggregate investment in the Dreyfus Family of Funds or
certain other products made available by the Distributor to such plans or
programs exceeds $1,000,000 ("Eligible Benefit Plans"). Shares of funds in the
Dreyfus Family of Funds then held by Eligible Benefit Plans will be aggregated
to determine the fee payable. The Distributor reserves the right to cease paying
these fees at any time. The Distributor will pay such fees from its own funds,
other than amounts received from a Fund, including past profits or any other
source available to it.

The Distributor, at its expense, may provide promotional incentives to
dealers that sell shares of funds advised by the Manager which are sold with a
sales load. In some instances, those incentives may be offered only to certain
dealers who have sold or may sell significant amounts of shares.

TRANSFER AND DIVIDEND DISBURSING AGENT AND CUSTODIAN. Dreyfus Transfer,
Inc. (the "Transfer Agent"), a wholly-owned subsidiary of the Manager, P.O. Box
9671, Providence, Rhode Island 02940-9671, is the Company's transfer and
dividend disbursing agent. Under a transfer agency agreement with the Company,
the Transfer Agent arranges for the maintenance of shareholder account records
for each 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 each Fund during the
month, and is reimbursed for certain out-of-pocket expenses.

The Bank of New York (the "Custodian"), 90 Washington Street, New York,
New York 10286, acts as custodian of each Fund's investments. Under a custody
agreement with the Company, the Custodian holds each Fund's securities and keeps
all necessary accounts and records. For its custody services, the Custodian
receives a monthly fee based on the market value of each Fund's assets held in
custody and receives certain securities transactions charges.

HOW TO BUY SHARES

GENERAL. Class A shares, Class B shares and Class C shares may be
purchased only by clients of certain financial institutions (which may include
banks), securities dealers ("Selected Dealers") and other industry professionals
(collectively, "Service Agents"), except that full-time or part-time employees
the Manager or any of its affiliates or subsidiaries, directors of the Manager,
Board members of a fund advised by the Manager, including members of the
Company's Board, or the spouse or minor child of any of the foregoing may
purchase Class A shares directly through the Distributor. Subsequent purchases
may be sent directly to the Transfer Agent or your Service Agent.

Class R shares are offered only to institutional investors acting for
themselves or in a fiduciary, advisory, agency, custodial or similar capacity
for qualified or non-qualified employee benefit plans, including pension,
profit-sharing, IRAs set up under a Simplified Employee Pension Plan
("SEP-IRAs") and other deferred compensation plans, whether established by
corporations, partnerships, non-profit entities or state and local governments
("Retirement Plans"). The term "Retirement Plans" does not include IRAs or IRA
"Rollover Accounts." Class R shares may be purchased for a Retirement Plan only
by a custodian, trustee, investment manager or other entity authorized to act on
behalf of such Retirement Plan. Institutions effecting transactions in Class R
shares for the accounts of their clients may charge their clients direct fees in
connection with such transactions.

When purchasing Fund shares, you must specify which Class is being
purchased. Stock certificates are issued only upon your written request. No
certificates are issued for fractional shares. The Company reserves the right to
reject any purchase order. See "Information About the Company and the Funds."

Service Agents may receive different levels of compensation for selling
different Classes of shares. Management understands that some Service Agents may
impose certain conditions on their clients which are different from those
described herein, and, to the extent permitted by applicable regulatory
authority, may charge their clients direct fees. You should consult your Service
Agent in this regard.

The minimum initial investment is $1,000. Subsequent investments must be
at least $100. However, the minimum initial investment is $750 for
Dreyfus-sponsored Keogh Plans, IRAs (including regular IRAs, spousal IRAs for a
non-working spouse, Roth IRAs, SEP-IRAs and rollover IRAs) and 403(b)(7) Plans
with only one participant and $500 for Dreyfus-sponsored Education IRAs, with
no minimum for subsequent purchases. The initial investment must be accompanied
by the Account Application. The Company reserves the right to offer Fund shares
without regard to minimum purchase requirements to employees participating in
certain qualified or non-qualified employee benefit plans or other programs
where contributions or account information can be transmitted in a manner and
form acceptable to the Company. The Company reserves the right to vary further
the initial and subsequent investment minimum requirements at any time.

The Internal Revenue Code of 1986, as amended (the "Code"), imposes
various limitations on the amount that may be contributed to certain Retirement
Plans. These limitations apply with respect to participants at the plan level
and, therefore, do not directly affect the amount that may be invested in a Fund
by a Retirement Plan. Participants and plan sponsors should consult their tax
advisers for details.

Fund shares also may be purchased through Dreyfus-AUTOMATIC Asset
Builder(R), the Government Direct Deposit Privilege and thE Payroll Savings Plan
described under "Shareholder Services." These services enable you to make
regularly scheduled investments and may provide you with a convenient way to
invest for long-term financial goals. You should be aware, however, that
periodic investment plans do not guarantee a profit and will not protect an
investor against loss in a declining market.

Fund shares are sold on a continuous basis. Net asset value per share is
determined as of the close of trading on the floor of the New York Stock
Exchange (currently 4:00 p.m., New York time), on each day the New York Stock
Exchange is open for business. For purposes of determining net asset value,
options and futures contracts will be valued 15 minutes after the close of
trading on the floor of the New York Stock Exchange. Net asset value per share
of each Class is computed by dividing the value of the Fund's net assets
represented by such Class (i.e., the value of its assets less liabilities) by
the total number of shares of such Class outstanding. Each Fund's investments
are valued based on market value or, where market quotations are not readily
available, based on fair value as determined in good faith by the Company's
Board. For further information regarding the methods employed in valuing the
Funds' investments, see "Determination of Net Asset Value."

If an order is received in proper form by the Transfer Agent or other
entity authorized to receive orders on behalf of the Fund by the close of
trading on the floor of the New York Stock Exchange (currently 4:00 p.m., New
York time) on a business day, Fund shares will be purchased at the public
offering price determined as of the close of trading on the floor of the New
York Stock Exchange on that day. Otherwise, Fund shares will be purchased at the
public offering price determined as of the close of trading on the floor of the
New York Stock Exchange on the next business day, except where shares are
purchased through a dealer as provided below.

Orders for the purchase of Fund shares received by dealers by the close
of trading on the floor of the New York Stock Exchange on any business day and
transmitted to the Distributor or its designee by the close of its business day
(normally 5:15 p.m., New York time) will be based on the public offering price
per share determined as of the close of trading on the floor of the New York
Stock Exchange on that day. Otherwise, the orders will be based on the next
determined public offering price. It is the dealer's responsibility to transmit
orders so that they will be received by the Distributor or its designee before
the close of its business day. 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.

CLASS A SHARES. The public offering price for Class A shares is the net
asset value per share of that Class plus a sales load as shown in the relevant
Fund's Prospectus.

The scale of sales loads applies to purchases of Class A shares made by
any "purchaser," which term includes an individual and/or spouse purchasing
securities for his, her or their own account or for the account of any minor
children, or a trustee or other fiduciary purchasing securities for a single
trust estate or a single fiduciary account (including a pension, profit-sharing
or other employee benefit trust created pursuant to a plan qualified under
Section 401 of the Code) although more than one beneficiary is involved; or a
group of accounts established by or on behalf of the employees of an employer or
affiliated employers pursuant to an employee benefit plan or other program
(including accounts established pursuant to Sections 403(b), 408(k), and 457 of
the Code); or an organized group which has been in existence for more than six
months, provided that it is not organized for the purpose of buying redeemable
securities of a registered investment company and provided that the purchases
are made through a central administration or a single dealer, or by other means
which result in economy of sales effort or expense.

Set forth below is an example of the method of computing the offering
price of Dreyfus Premier International Growth Fund's Class A shares. The example
assumes a purchase of Class A shares of Dreyfus Premier International Growth
Fund aggregating less than $50,000 subject to the schedule of sales charges set
forth in the Fund's Prospectus at a price based upon the net asset value of the
Fund's Class A shares on October 31, 1997:

NET ASSET VALUE per Share..............................$16.45
______
Per Share Sales Charge - 5.75%*
of offering price (6.10% of
net asset value per share)..........................$ 1.00
_______
Per Share Offering Price to
the Public.....................................$17.45
======

- -------------------

*Class A shares of Dreyfus Premier International Growth Fund purchased by
shareholders beneficially owning Class A shares of such Fund on November 30,
1996 are subject to a different sales load schedule as described under "How to
Buy Shares--Class A Shares" in the Fund's Prospectus.

Full-time employees of NASD member firms and full-time employees of other
financial institutions which have entered into an agreement with the Distributor
pertaining to the sale of Fund shares (or which otherwise have a brokerage
related or clearing arrangement with an NASD member firm or financial
institution with respect to the sale of such shares) may purchase Class A shares
for themselves directly or pursuant to an employee benefit plan or other
program, or for their spouses or minor children, at net asset value, provided
they have furnished the Distributor with such information as it may request from
time to time in order to verify eligibility for this privilege. This privilege
also applies to full-time employees of financial institutions affiliated with
NASD member firms whose full-time employees are eligible to purchase Class A
shares at net asset value. In addition, Class A shares are offered at net asset
value to full-time or part-time employees of the Manager or any of its
affiliates or subsidiaries, directors of the Manager, Board members of a fund
advised by the Manager, including members of the Company's Board, or the spouse
or minor child of any of the foregoing.

Class A shares are offered at net asset value without a sales load to
employees participating in Eligible Benefit Plans. Class A shares also may be
purchased (including by exchange) at net asset value without a sales load for
Dreyfus-sponsored IRA "Rollover Accounts" with the distribution proceeds from a
qualified retirement plan or a Dreyfus-sponsored 403(b)(7) plan, provided, at
the time of such distribution, such qualified retirement plan or
Dreyfus-sponsored 403(b)(7) plan (a) met the requirements of an Eligible Benefit
Plan and all or a portion of such plan's assets were invested in funds in the
Dreyfus Premier Family of Funds or the Dreyfus Family of Funds or certain other
products made available by the Distributor to such plans, or (b) invested all of
its assets in certain funds in the Dreyfus Premier Family of Funds or the
Dreyfus Family of Funds or certain other products made available by the
Distributor to such plans.

Class A shares may be purchased at net asset value through certain
broker-dealers and other financial institutions which have entered into an
agreement with the Distributor, which includes a requirement that such shares be
sold for the benefit of clients participating in a "wrap account" or a similar
program under which such clients pay a fee to such broker-dealer or other
financial institution.

Class A shares also may be purchased at net asset value, subject to
appropriate documentation, through a broker-dealer or other financial
institution with the proceeds from the redemption of shares of a registered
open-end management investment company not managed by the Manager or its
affiliates. The purchase of Class A shares of a Fund must be made within 60 days
of such redemption and the shareholder must have either (i) paid an initial
sales charge or a contingent deferred sales charge or (ii) been obligated to pay
at any time during the holding period, but did not actually pay on redemption, a
deferred sales charge with respect to such redeemed shares.

Class A shares also may be purchased at net asset value, subject to
appropriate documentation, by (i) qualified separate accounts maintained by an
insurance company pursuant to the laws of any State or territory of the United
States, (ii) a State, county or city or instrumentality thereof, (iii) a
charitable organization (as defined in Section 501(c)(3) of the Code) investing
$50,000 or more in Fund shares, and (iv) a charitable remainder trust (as
defined in Section 501(c)(3) of the Code).

CLASS B SHARES. The public offering price for Class B shares is the net
asset value per share of that Class. No initial sales charge is imposed at the
time of purchase. A CDSC is imposed, however, on certain redemptions of Class B
shares as described in the relevant Fund's Prospectus and under "How to Redeem
Shares." The Distributor compensates certain Service Agents for selling Class B
shares at the time of purchase from the Distributor's own assets. The proceeds
of the CDSC and the distribution fee, in part, are used to defray these
expenses.

Approximately six years after the date of purchase, Class B shares
automatically will convert to Class A shares, based on the relative net asset
values for shares of each such Class. Class B shares that have been acquired
through the reinvestment of dividends and distributions will be converted on a
pro rata basis together with other Class B shares, in the proportion that a
shareholder's Class B shares converting to Class A shares bears to the total
Class B shares not acquired through the reinvestment of dividends and
distributions.

CLASS C SHARES. The public offering price for Class C shares is the net
asset value per share of that Class. No initial sales charge is imposed at the
time of purchase. A CDSC is imposed, however, on redemptions of Class C shares
made within the first year of purchase. See "Class B shares" above and "How to
Redeem Shares."

CLASS R SHARES. The public offering for Class R shares is the net asset
value per share of that Class.

RIGHT OF ACCUMULATION -- CLASS A SHARES. Reduced sales loads apply to any
purchase of Class A shares, shares of other funds in the Dreyfus Premier Family
of Funds, shares of certain other funds advised by the Manager which are sold
with a sales load and shares acquired by a previous exchange of such shares
(hereinafter referred to as "Eligible Funds"), by you and any related
"purchaser" as defined above, where the aggregate investment, including such
purchase, is $50,000 or more. If, for example, you previously purchased and
still hold Class A shares, or shares of any other Eligible Fund or combination
thereof, with an aggregate current market value of $40,000 and subsequently
purchase Class A shares or shares of an Eligible Fund having a current value of
$20,000, the sales load applicable to the subsequent purchase would be reduced
to 4.5% of the offering price. All present holdings of Eligible Funds may be
combined to determine the current offering price of the aggregate investment in
ascertaining the sales load applicable to each subsequent purchase.

To qualify for reduced sales loads, at the time of purchase you or your
Service Agent must notify the Distributor if orders are made by wire, or the
Transfer Agent if orders are made by mail. The reduced sales load is subject to
confirmation of your holdings through a check of appropriate records.

TELETRANSFER PRIVILEGE. You may purchase shares by telephone if you have
checked the appropriate box and supplied the necessary information on the
Account Application or have filed a Shareholder Services Form with the Transfer
Agent. The proceeds will be transferred between the bank account designated in
one of these documents and your Fund account. Only a bank account maintained in
a domestic financial institution which is an Automated Clearing House member may
be so designated.

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 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 TELETRANSFER Privilege, the initial
payment for purchase of shares must be drawn on, and redemption proceeds paid
to, the same bank and account as are designated on the Account Application or
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 "How to Redeem Shares--TELETRANSFER Privilege."

REOPENING AN ACCOUNT. You may reopen your account with a minimum
investment of $100 without filing a new Account Application during the calendar
year the account is closed or during the following calendar year, provided the
information on the old Account Application is still applicable.

DISTRIBUTION PLAN AND SHAREHOLDER SERVICES PLAN

Class B and Class C shares of each Fund are subject to a Distribution
Plan and Class A, Class B and Class C shares are subject to a Shareholder
Services Plan.

DISTRIBUTION PLAN. Rule 12b-1 (the "Rule") adopted by the Securities and
Exchange Commission under the 1940 Act provides, among other things, that an
investment company may bear expenses of distributing its shares only pursuant to
a plan adopted in accordance with the Rule. The Company's Board has adopted such
a plan (the "Distribution Plan") with respect to each Fund's Class B and Class C
shares, pursuant to which the Fund pays the Distributor for distributing the
relevant Class of shares. The Company's Board believes that there is a
reasonable likelihood that the Distribution Plan will benefit each Fund and
holders of its Class B and Class C shares.

A quarterly report of the amounts expended under the Distribution Plan,
and the purposes for which such expenditures were incurred, must be made to the
Board for its review. In addition, the Distribution Plan provides that it may
not be amended to increase materially the costs which holders of a Fund's Class
B or Class C shares may bear pursuant to the Distribution Plan without the
approval of the holders of such shares and that other material amendments of the
Distribution Plan must be approved by the Company's Board, and by the Board
members who are not "interested persons" (as defined in the 1940 Act) of the
Company and have no direct or indirect financial interest in the operation of
the Distribution Plan or in any agreements entered into in connection with the
Distribution Plan, by vote cast in person at a meeting called for the purpose of
considering such amendments. As to each Fund, the Distribution Plan is subject
to annual approval by such vote of the Board cast in person at a meeting called
for the purpose of voting on the Distribution Plan. The Distribution Plan was
last so approved by the Board at a meeting held on October __, 1998. As to the
relevant Class of shares of a Fund, the Distribution Plan may be terminated at
any time by vote of a majority of the Board members who are not "interested
persons" and have no direct or indirect financial interest in the operation of
the Distribution Plan or in any agreements entered into in connection with the
Distribution Plan or by vote of the holders of a majority of such Class of
shares.

With respect to Dreyfus Premier International Growth Fund, for the fiscal
year ended October 31, 1997, the Fund was charged $536,675 and $1,534, with
respect to Class B shares and Class C shares, respectively, pursuant to the
Distribution Plan.

Dreyfus Premier Greater China Fund, Dreyfus Premier Global Allocation
Fund and Dreyfus Premier European Equity Fund have not completed their first
fiscal year.

SHAREHOLDER SERVICES PLAN. The Company has adopted a Shareholder Services
Plan, pursuant to which each Fund pays the Distributor for the provision of
certain services to the holders of the Fund's Class A, Class B and Class C
shares. 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 such shareholder accounts. Under the Shareholder Services Plan,
the Distributor may make payments to Service Agents in respect of these
services.

A quarterly report of the amounts expended under the Shareholder Services
Plan, and the purposes for which such expenditures were incurred, must be made
to the Board for its review. In addition, the Shareholder Services Plan provides
that material amendments must be approved by the Company's Board, and by the
Board members who are not "interested persons" (as defined in the 1940 Act) of
the Company and have no direct or indirect financial interest in the operation
of the Shareholder Services Plan or in any agreements entered into in connection
with the Shareholder Services Plan, by vote cast in person at a meeting called
for the purpose of considering such amendments. As to each Fund, the Shareholder
Services Plan is subject to annual approval by such vote of the Board cast in
person at a meeting called for the purpose of voting on the Shareholder Services
Plan. The Shareholder Services Plan was last so approved by the Board at a
meeting held on October __, 1998. As to the relevant Class of shares of a Fund,
the Shareholder Services Plan is terminable at any time by vote of a majority of
the Board members who are not "interested persons" and who have no direct or
indirect financial interest in the operation of the Shareholder Services Plan or
in any agreements entered into in connection with the Shareholder Services Plan.

With respect to Dreyfus Premier International Growth Fund, for the fiscal
year ended October 31, 1997, the Fund was charged $165,653, $178,892 and $511
with respect to Class A shares, Class B shares and Class C shares, respectively,
pursuant to the Shareholder Services Plan.

Dreyfus Premier Greater China Fund, Dreyfus Premier Global Allocation
Fund and Dreyfus Premier European Equity Fund have not completed their first
fiscal year.

HOW TO REDEEM SHARES

CONTINGENT DEFERRED SALES CHARGE--CLASS B SHARES. A CDSC payable to the
Distributor is imposed on any redemption of Class B shares which reduces the
current net asset value of your Class B shares to an amount which is lower than
the dollar amount of all payments by you for the purchase of Class B shares of
the Fund held by you at the time of redemption. No CDSC will be imposed to the
extent that the net asset value of the Class B shares redeemed does not exceed
(i) the current net asset value of Class B shares acquired through reinvestment
of dividends or capital gain distributions, plus (ii) increases in the net asset
value of your Class B shares above the dollar amount of all your payments for
the purchase of Class B shares held by you at the time of redemption.

If the aggregate value of Class B shares redeemed has declined below
their original cost as a result of the Fund's performance, a CDSC may be applied
to the then-current net asset value rather than the purchase price.

In circumstances where the CDSC is imposed, the amount of the charge will
depend on the number of years for the time you purchased the Class B shares
until the time of redemption of such shares. Solely for purposes of determining
the number of years from the time of any payment for the purchase of Class B
shares, all payments during a month will be aggregated and deemed to have been
made on the first day of the month.

In determining whether a CDSC is applicable to a redemption, the
calculation will be made in a manner that results in the lowest possible rate.
It will be assumed that the redemption is made first of amounts representing
shares acquired pursuant to the reinvestment of dividends and distributions;
then of amounts representing the increase in net asset value of Class B shares
above the total amount of payments for the purchase of Class B shares made
during the preceding six years; then of amounts representing the cost of shares
purchased six years prior to the redemption; and finally, of amounts
representing the cost of shares held for the longest period of time within the
applicable six-year period.

For example, assume an investor purchased 100 shares at $10 per share for
a cost of $1,000. Subsequently, the shareholder acquired five additional shares
through dividend reinvestment. During the second year after the purchase the
investor decided to redeem $500 of the investment. Assuming at the time of the
redemption the net asset value had appreciated to $12 per share, the value of
the investor's shares would be $1,260 (105 shares at $12 per share). The CDSC
would not be applied to the value of the reinvested dividend shares and the
amount which represents appreciation ($260). Therefore, $240 of the $500
redemption proceeds ($500 minus $260) would be charged at a rate of 4% (the
applicable rate in the second year after purchase) for a total CDSC of $9.60.

CONTINGENT DEFERRED SALES CHARGE--CLASS C SHARES. A CDSC of 1% payable to
the Distributor is imposed on any redemption of Class C shares within one year
of the date of purchase. The basis for calculating the payment of any such CDSC
will be the method used in calculating the CDSC for Class B shares. See
"Contingent Deferred Sales Charge--Class B Shares" above.

WAIVER OF CDSC. The CDSC applicable to Class B and Class C shares may be
waived in connection with (a) redemptions made within one year after the death
or disability, as defined in Section 72(m)(7) of the Code, of the shareholder,
(b) redemptions by employees participating in Eligible Benefit Plans, (c)
redemptions as a result of a combination of any investment company with the Fund
by merger, acquisition of assets or otherwise, (d) a distribution following
retirement under a tax-deferred retirement plan or upon attaining age 70 1/2 in
the case of an IRA or Keogh plan or custodial account pursuant to Section 403(b)
of the Code, and (e) redemptions pursuant to the Automatic Withdrawal Plan, as
described below. If the Company's Board determines to discontinue the waiver of
the CDSC, the disclosure herein will be revised appropriately. Any Fund shares
subject to a CDSC which were purchased prior to the termination of such waiver
will have the CDSC waived as provided in the Fund's Prospectus or Statement of
Additional Information at the time of the purchase of such shares.

To qualify for a waiver of the CDSC, at the time of redemption you must
notify the Transfer Agent or your Service Agent must notify the Distributor. Any
such qualification is subject to confirmation of your entitlement.

REDEMPTION THROUGH A SELECTED DEALER. If you are a customer of a Selected
Dealer, you may make redemption requests to your Selected Dealer. If the
Selected Dealer transmits the redemption request so that it is received by the
Transfer Agent prior to the close of trading on the floor of the New York Stock
Exchange (currently 4:00 p.m., New York time), the redemption request will be
effective on that day. If a redemption request is received by the Transfer Agent
after the close of trading on the floor of the New York Stock Exchange, the
redemption request will be effective on the next business day. It is the
responsibility of the Selected Dealer to transmit a request so that it is
received in a timely manner. The proceeds of the redemption are credited to your
account with the Selected Dealer. See "How to Buy Shares" for a discussion of
additional conditions or fees that may be imposed upon redemption.

In addition, the Distributor or its designee will accept orders from
Selected Dealers with which the Distributor has sales agreements for the
repurchase of shares held by shareholders. Repurchase orders received by dealers
by the close of trading on the floor of the New York Stock Exchange on any
business day and transmitted to the Distributor or its designee prior to the
close of its business day (normally 5:15 p.m., New York time) are effected at
the price determined as of the close of trading on the floor of the New York
Stock Exchange on that day. Otherwise, the shares will be redeemed at the next
determined net asset value. It is the responsibility of the Selected Dealer to
transmit orders on a timely basis. The Selected Dealer may charge the
shareholder a fee for executing the order. This repurchase arrangement is
discretionary and may be withdrawn at any time.

REINVESTMENT PRIVILEGE. Upon written request, you may reinvest up to the
number of Class A or Class B shares you have redeemed, within 45 days of
redemption, at the then-prevailing net asset value without a sales load, or
reinstate your account for the purpose of exercising Fund Exchanges. Upon
reinstatement, with respect to Class B shares, or Class A shares if such shares
were subject to a CDSC, your account will be credited with an amount equal to
the CDSC previously paid upon redemption of the Class A or Class B shares
reinvested. The Reinvestment Privilege may be exercised only once.

WIRE REDEMPTION PRIVILEGE. By using this Privilege, you authorize the
Transfer Agent to act on wire, telephone or letter redemption instructions from
any person representing himself or herself to be you, or a representative of
your Service Agent, and reasonably believed by the Transfer Agent to be genuine.
Ordinarily, the Company will initiate payment for shares redeemed pursuant to
this Privilege on the next business day after receipt by the Transfer Agent of
the redemption request in proper form. Redemption proceeds ($1,000 minimum) will
be transferred by Federal Reserve wire only to the commercial bank account you
have specified on the Account Application or Shareholder Services Form, or to a
correspondent bank if your bank is not a member of the Federal Reserve System.
Fees ordinarily are imposed by such bank and borne by you. Immediate
notification by the correspondent bank to your bank is necessary to avoid a
delay in crediting the funds to your bank account.

If you have access to telegraphic equipment you may wire redemption
requests to the Transfer Agent by employing the following transmittal code which
may be used for domestic or overseas transmissions:

TRANSFER AGENT'S
TRANSMITTAL CODE ANSWER BACK SIGN
---------------- -----------------

144295 144295 TSSG PREP

If you do not have direct access to telegraphic equipment you may have
the wire transmitted by contacting a TRT Cables operator at 1-800-654-7171, toll
free. You should advise the operator that the above transmittal code must be
used and you should also inform the operator of the Transfer Agent's answer back
sign.

To change the commercial bank or account designated to receive redemption
proceeds, a written request must be sent to the Transfer Agent. This request
must be signed by each shareholder, with each signature guaranteed as described
below under "Stock Certificates; Signatures."

TELETRANSFER PRIVILEGE. You may request by telephone that redemption
proceeds be transferred between your Fund account and your bank account. Only a
bank account maintained in a domestic financial institution which is an
Automated Clearing House member may be designated. Redemption proceeds will be
on deposit in your account at an Automated Clearing House member bank ordinarily
two days after receipt of the redemption request. Holders of jointly registered
Fund or bank accounts may redeem through the TELETRANSFER Privilege for transfer
to their bank account not more than $250,000 within any 30-day period.
Redemption proceeds will be on deposit in the your account at an ACH member bank
ordinarily two business days after receipt of the redemption request. You should
be aware that if you have selected the TELETRANSFER Privilege, any request for a
wire redemption will be effected as a TELETRANSFER transaction through the
Automated Clearing House ("ACH") system unless more prompt transmittal
specifically is requested. See "How to Buy Shares--TELETRANSFER Privilege."

STOCK CERTIFICATES; SIGNATURES. Any certificates representing Fund shares
to be redeemed must be submitted with the redemption request. Written redemption
requests must be signed by each shareholder, including each holder of a joint
account, and each signature must be guaranteed. Signatures on endorsed
certificates submitted for redemption also must be guaranteed. The Transfer
Agent has adopted standards and procedures pursuant to which
signature-guarantees in proper form generally will be accepted from domestic
banks, brokers, dealers, credit unions, national securities exchanges,
registered securities associations, clearing agencies, and savings associations,
as well as from participants in the New York Stock Exchange Medallion Signature
Program, the Securities Transfer Agents Medallion Program ("STAMP") and the
Stock Exchanges Medallion Program. Guarantees must be signed by an authorized
signatory of the guarantor and "Signature-Guaranteed" must appear with the
signature. The Transfer Agent may request additional documentation from
corporations, executors, administrators, trustees or guardians, and may accept
other suitable verification arrangements from foreign investors, such as
consular verification.

REDEMPTION COMMITMENT. The Company has committed itself to pay in cash
all redemption requests by any shareholder of record of a Fund, limited in
amount during any 90-day period to the lesser of $250,000 or 1% of such value
of such Fund's net assets at the beginning of such period. Such commitment is
irrevocable without the prior approval of the Securities and Exchange
Commission. In the case of requests for redemption in excess of such amount, the
Board reserves the right to make payments in whole or in part in securities or
other assets in case of an emergency or any time a cash distribution would
impair the liquidity of the Fund to the detriment of the existing shareholders.
In such event, the securities would be valued in the same manner as the Fund's
securities are valued. If the recipient sold such securities, brokerage charges
would be incurred.

SUSPENSION OF REDEMPTIONS. The right of redemption may be suspended or
the date of payment postponed (a) during any period when the New York Stock
Exchange is closed (other than customary weekend and holiday closings), (b) when
trading in the markets the relevant Fund ordinarily utilizes is restricted, or
when an emergency exists as determined by the Securities and Exchange Commission
so that disposal of the Fund's investments or determination of its net asset
value is not reasonably practicable, or (c) for such other periods as the
Securities and Exchange Commission by order may permit to protect the Fund's
shareholders.

SHAREHOLDER SERVICES

FUND EXCHANGES. Shares of any Class of a Fund may be exchanged for shares
of the respective Class of other funds in the Dreyfus [Premier] Family of Funds,
to the extent such shares are offered for sale in your state of residence.
Shares of the same Class of such funds purchased by exchange will be purchased
on the basis of relative net asset value per share as follows:

A. Exchanges for shares of funds that are offered without a sales load
will be made without a sales load.

B. Shares of funds purchased without a sales load may be exchanged for
shares of other funds sold with a sales load, and the applicable sales
load will be deducted.

C. Shares of funds purchased with a sales load may be exchanged without a
sales load for shares of other funds sold without a sales load.

D. Shares of funds purchased with a sales load, shares of funds acquired
by a previous exchange from shares purchased with a sales load and
additional shares acquired through reinvestment of dividends or
distributions of any such funds (collectively referred to herein as
"Purchased Shares") may be exchanged for shares of other funds sold
with a sales load (referred to herein as "Offered Shares"), provided
that, if the sales load applicable to the Offered Shares exceeds the
maximum sales load that could have been imposed in connection with the
Purchased Shares (at the time the Purchased Shares were acquired),
without giving effect to any reduced loads, the difference will be
deducted.

E. Shares of funds subject to a contingent deferred sales charge ("CDSC")
that are exchanged for shares of another fund will be subject to the
higher applicable CDSC of the two funds, and for purposes of
calculating CDSC rates and conversion periods, if any, will be deemed
to have been held since the date the shares being exchanged were
initially purchased.

To accomplish an exchange under item D above, you must notify the
Transfer Agent of your prior ownership of fund shares and your account number.

To request an exchange, your Service Agent acting on your behalf must
give exchange instructions to the Transfer Agent in writing or by telephone. The
ability to issue exchange instructions by telephone is given to all Fund
shareholders automatically, unless you check the applicable "No" box on the
Account Application, indicating that you specifically refuses this Privilege. By
using the Telephone Exchange Privilege, you authorize the Transfer Agent to act
on telephonic instructions (including over The Dreyfus Touch(R) automated
telephone system) from any person representing himself or herself to be you, or
a representative of your Service Agent, and reasonably believed by the Transfer
Agent to be genuine. Telephone exchanges may be subject to limitations as to the
amount involved or the number of telephone exchanges permitted. Shares issued in
certificate form are not eligible for telephone exchange. No fees currently are
charged shareholders directly in connection with exchanges, although the Company
reserves the right, upon not less than 60 days' written notice, to charge
shareholders a nominal administrative fee in accordance with rules promulgated
by the Securities and Exchange Commission.

To establish a personal retirement plan by exchange, shares of the fund
being exchanged must have a value of at least the minimum initial investment
required for the fund into which the exchange is being made.

Exchanges of Class R shares held by a Retirement Plan may be made only
between the investor's Retirement Plan account in one fund and such investor's
Retirement Plan account in another fund.

To establish a personal retirement plan by exchange, shares of the fund
being exchanged must have a value of at least the minimum initial investment
required for shares of the fund into which the exchange is being made.

AUTO-EXCHANGE PRIVILEGE. The Auto-Exchange Privilege permits you to
purchase, in exchange for shares of a Fund, shares of the same Class of another
fund in the Dreyfus Premier Family of Funds or certain funds in the Dreyfus
Family of Funds. This Privilege is available only for existing accounts. With
respect to Class R shares held by a Retirement Plan, exchanges may be made only
between the investor's Retirement Plan account in one fund and such investor's
Retirement Plan account in another fund. Shares will be exchanged on the basis
of relative net asset value as described above under "Fund Exchanges."
Enrollment in or modification or cancellation of this Privilege is effective
three business days following notification by the investor. You will be notified
if your account falls below the amount designated to be exchanged under this
Privilege. In this case, your account will fall to zero unless additional
investments are made in excess of the designated amount prior to the next
Auto-Exchange transaction. Shares held under IRA and other retirement plans are
eligible for this Privilege. Exchanges of IRA shares may be made between IRA
accounts and from regular accounts to IRA accounts, but not from IRA accounts to
regular accounts. With respect to all other retirement accounts, exchanges may
be made only among those accounts.

Fund Exchanges and the Auto-Exchange Privilege are available to
shareholders resident in any state in which shares of the fund being acquired
may legally be sold. Shares may be exchanged only between accounts having
identical names and other identifying designations.

Shareholder Services Forms and prospectuses of the other funds may be
obtained by calling 1-800-554-4611. The Company reserves the right to reject any
exchange request in whole or in part. The Fund Exchanges service or the
Auto-Exchange Privilege may be modified or terminated at any time upon notice to
shareholders.

DREYFUS-AUTOMATIC ASSET BUILDER(R). Dreyfus-AUTOMATIC Asset Builder
permits you to purchases Fund shares (minimum of $100 and maximum of $150,000
per transaction) at regular intervals selected by you. Fund shares are purchased
by transferring funds from the bank account designated by you.

GOVERNMENT DIRECT DEPOSIT PRIVILEGE. The Government Direct Deposit
Privilege enables you to purchase Fund shares (minimum of $100 and maximum of
$50,000 per transaction) by having Federal salary, Social Security, or certain
veterans', military or other payments from the U.S. Government automatically
deposited into your fund account. You may deposit as much of such payments as
you elect.

PAYROLL SAVINGS PLAN. The Payroll Savings Plan permits you to purchase
Fund shares (minimum of $100 per transaction) automatically on a regular basis.
Depending upon your employer's direct deposit program, you may have part or all
of your paycheck transferred to your existing Dreyfus account electronically
through the Automated Clearing House system at each pay period. To establish a
Payroll Savings Plan account, you must file an authorization form with your
employer's payroll department. It is the sole responsibility of your employer,
not the Distributor, the Manager, the Company, the Transfer Agent or any other
person, to arrange for transactions under the Payroll Savings Plan.

DIVIDEND OPTIONS. Dividend Sweep allows you to invest automatically your
dividends or dividends and capital gain distributions, if any, from a Fund in
shares of the same Class of another fund in the Dreyfus Premier Family of Funds
or certain funds in the Dreyfus Family of Funds of which you are a shareholder.
Shares of the same Class of other funds purchased pursuant to this privilege
will be purchased on the basis of relative net asset value per share as follows:

(a) Dividends and distributions paid by a fund may be invested
without imposition of a sales load in shares of other funds
that are offered without a sales load.

(b) Dividends and distributions paid by a fund which does not
charge a sales load may be invested in shares of other funds
sold with a sales load, and the applicable sales load will be
deducted.

(c) Dividends and distributions paid by a fund which charges a
sales load may be invested in shares of other funds sold with
a sales load (referred to herein as "Offered Shares"),
provided that, if the sales load applicable to the Offered
Shares exceeds the maximum sales load charged by the fund
from which dividends or distributions are being swept,
without giving effect to any reduced loads, the difference
will be deducted.

(d) Dividends and distributions paid by a fund may be invested in
the shares of other funds that impose a CDSC and the
applicable CDSC, if any, will be imposed upon redemption of
such shares.

Dividend ACH permits you to transfer electronically dividends or
dividends and capital gain distributions, if any, from a Fund to a designated
bank account. Only an account maintained at a domestic financial institution
which is an Automated Clearing House member may be so designated. Banks may
charge a fee for this service.

AUTOMATIC WITHDRAWAL PLAN. The Automatic Withdrawal Plan permits you to
request withdrawal of a specified dollar amount (minimum of $50) on either a
monthly or quarterly basis if you have a $5,000 minimum account. Withdrawal
payments are the proceeds from sales of Fund shares, not the yield on the
shares. If withdrawal payments exceed reinvested dividends and distributions,
your shares will be reduced and eventually may be depleted. Automatic Withdrawal
may be terminated at any time by you, the Company or the Transfer Agent. Shares
for which certificates have been issued may not be redeemed through the
Automatic Withdrawal Plan.

Particular Retirement Plans, including Dreyfus-sponsored retirement
plans, may permit certain participants to establish an automatic withdrawal plan
from such Retirement Plans. Participants should consult their Retirement Plan
sponsor and tax adviser for details. Such a withdrawal plan is different than
the Automatic Withdrawal Plan.

No CDSC with respect to Class B shares will be imposed on withdrawals
made under the Automatic Withdrawal Plan, provided that the amounts withdrawn
under the plan do not exceed on an annual basis 12% of the account value at the
time the shareholder elects to participate in the Automatic Withdrawal Plan.
Withdrawals with respect to Class B shares under the Automatic Withdrawal Plan
that exceed on an annual basis 12% of the value of the shareholders account will
be subject to a CDSC on the amounts exceeding 12% of the initial account value.
Withdrawals of Class A shares subject to a CDSC and Class C shares under the
Automatic Withdrawal Plan will be subject to any applicable CDSC. Purchases of
additional Class A shares where the sales load is imposed concurrently with
withdrawals of Class A shares generally are undesirable.

LETTER OF INTENT--CLASS A SHARES. By signing a Letter of Intent form,
which can be obtained by calling 1-800-554-4611, you become eligible for the
reduced sales load applicable to the total number of Eligible Fund shares
purchased in a 13-month period pursuant to the terms and conditions set forth in
the Letter of Intent. A minimum initial purchase of $5,000 is required. To
compute the applicable sales load, the offering price of shares you hold (on the
date of submission of the Letter of Intent) in any Eligible Fund that may be
used toward "Right of Accumulation" benefits described above may be used as a
credit toward completion of the Letter of Intent. However, the reduced sales
load will be applied only to new purchases.

The Transfer Agent will hold in escrow 5% of the amount indicated in the
Letter of Intent for payment of a higher sales load if you do not purchase the
full amount indicated in the Letter of Intent. The escrow will be released when
you fulfill the terms of the Letter of Intent by purchasing the specified
amount. If your purchases qualify for a further sales load reduction, the sales
load will be adjusted to reflect your total purchase at the end of 13 months. If
total purchases are less than the amount specified, you will be requested to
remit an amount equal to the difference between the sales load actually paid and
the sales load applicable to the aggregate purchases actually made. If such
remittance is not received within 20 days, the Transfer Agent, as
attorney-in-fact pursuant to the terms of the Letter of Intent, will redeem an
appropriate number of Class A shares of the Fund held in escrow to realize the
difference. Signing a Letter of Intent does not bind you to purchase, or the
Fund to sell, the full amount indicated at the sales load in effect at the time
of signing, but you must complete the intended purchase to obtain the reduced
sales load. At the time you purchase Class A shares, you must indicate your
intention to do so under a Letter of Intent. Purchases pursuant to a Letter of
Intent will be made at the then-current net asset value plus the applicable
sales load in effect at the time such Letter of Intent was executed.

CORPORATE PENSION/PROFIT-SHARING AND PERSONAL RETIREMENT PLANS. The
Company makes available to corporations a variety of prototype pension and
profit-sharing plans including a 401(k) Salary Reduction Plan. In addition, the
Company makes available Keogh Plans, IRAs (including regular IRAs, spousal IRAs
for a non-working spouse, Roth IRAs, Education IRAs, SEP-IRAs, and IRA "Rollover
Accounts"), and 403(b)(7) Plans. Plan support services also are available.

If you wish to purchase Fund shares in conjunction with a Keogh Plan, a
403(b)(7) Plan or an IRA, including a SEP-IRA, you may request from the
Distributor forms for adoption of such plans.

The entity acting as custodian for Keogh Plans, 403(b)(7) Plans or IRAs
may charge a fee, payment of which could require the liquidation of shares. All
fees charged are described in the appropriate form.

SHARES MAY BE PURCHASED IN CONNECTION WITH THESE PLANS ONLY BY DIRECT
REMITTANCE TO THE ENTITY ACTING AS CUSTODIAN. PURCHASES FOR THESE PLANS MAY NOT
BE MADE IN ADVANCE OF RECEIPT OF FUNDS.

The minimum initial investment for corporate plans, Salary Reduction
Plans, 403(b)(7) Plans and SEP-IRAs with more than one participant, is $1,000
with no minimum for subsequent purchases. The minimum initial investment is $750
for Dreyfus-sponsored Keogh Plans, IRAs (including regular IRAs, spousal IRAs
for a non-working spouse, Roth IRAs, SEP-IRAs, and rollover IRAs) and 403(b)(7)
Plans with only one participant and $500 for Dreyfus-sponsored Education IRAs,
with no minimum for subsequent purchases.

You should read the prototype retirement plan and the appropriate form of
custodial agreement for further details on eligibility, service fees and tax
implications, and you should consult a tax adviser.

DETERMINATION OF NET ASSET VALUE

VALUATION OF PORTFOLIO SECURITIES. Portfolio securities, including
covered call options written by a Fund, are valued at the last sale price on the
securities exchange or national securities market on which such securities
primarily are traded. Securities not listed on an exchange or national
securities market, or securities in which there were no transactions, are valued
at the average of the most recent bid and asked prices, except in the case of
open short positions where the asked price is used for valuation purposes. Bid
price is used when no asked price is available. Any assets or liabilities
initially expressed in terms of foreign currency will be translated into U.S.
dollars at the midpoint of the New York interbank market spot exchange rate as
quoted on the day of such translation by the Federal Reserve Bank of New York or
if no such rate is quoted on such date, at the exchange rate previously quoted
by the Federal Reserve Bank of New York, or at such other quoted market exchange
rate as may be determined to be appropriate by the Manager (or, if applicable,
the Fund's sub-investment adviser). Forward currency contracts will be valued at
the current cost of offsetting the contract. Because of the need to obtain
prices as of the close of trading on various exchanges throughout the world, the
calculation of net asset value does not take place contemporaneously with the
determination of prices of a majority of each Fund's portfolio securities.
Short-term investments are carried at amortized cost, which approximates value.
Expenses and fees, including the management fee and fees pursuant to the
Distribution Plan and Shareholder Services Plan, are accrued daily and taken
into account for the purpose of determining the net asset value of the relevant
Class's shares. Because of the difference in operating expenses incurred by each
Class, the per share net asset value of each Class will differ.

Restricted securities, as well as securities or other assets for which
market quotations are not readily available, or are not valued by a pricing
service approved by the Board, are valued at fair value as determined in good
faith by the Board members. The Board will review the method of valuation on a
current basis. In making their good faith valuation of restricted securities,
the Board members generally will take the following factors into consideration:
restricted securities which are, or are convertible into, securities of the same
class of securities for which a public market exists usually will be valued at
market value less the same percentage discount at which purchased. This discount
will be revised periodically by the Board if the Board members believe that it
no longer reflects the value of the restricted securities. Restricted securities
not of the same class as securities for which a public market exists usually
will be valued initially at cost. Any subsequent adjustment from cost will be
based upon considerations deemed relevant by the Board.

NEW YORK STOCK EXCHANGE CLOSINGS. The holidays (as observed) on which the
New York Stock Exchange is closed currently are: New Year's Day, Martin Luther
King Jr. Day, Presidents' Day, Good Friday, Memorial Day, Independence Day,
Labor Day, Thanksgiving and Christmas.

DIVIDENDS, DISTRIBUTIONS AND TAXES

Management believes that Dreyfus Premier International Growth Fund has
qualified as a "regulated investment company" under the Code for the fiscal year
ended October 31, 1997. It is expected that each of Dreyfus Premier Greater
China Fund, Dreyfus Premier Global Allocation Fund and Dreyfus Premier European
Equity Fund will qualify as a regulated investment company under the Code. Each
Fund intends to continue to so qualify as long as such qualification is in the
best interests of its shareholders. As a regulated investment company, each Fund
will pay no Federal income tax on net investment income and net realized
securities gains to the extent that such income and gains are distributed to
shareholders in accordance with applicable provisions of the Code. To qualify as
a regulated investment company, the Fund must distribute at least 90% of its net
income (consisting of net investment income and net short-term capital gain) to
its shareholders, and meet certain asset diversification and other requirements.
If a Fund did not qualify as a regulated investment company, it would be treated
for tax purposes as an ordinary corporation subject to Federal income tax. The
term "regulated investment company" does not imply the supervision of management
or investment practices or policies by any government agency.

Any dividend or distribution paid shortly after an investor's purchase
may have the effect of reducing the aggregate net asset value of the shares
below the cost of the investment. Such a dividend or distribution would be a
return on investment in an economic sense, although taxable as stated in the
Fund's Prospectus. In addition, the Code provides that if a shareholder holds
shares of a Fund for six months or less and has received a capital gain
distribution with respect to such shares, any loss incurred on the sale of such
shares will be treated as a long-term capital loss to the extent of the capital
gain distribution received.

A Fund may qualify for and may make an election permitted under Section
853 of the Code so that shareholders may be eligible to claim a credit or
deduction on their Federal income tax returns for, and will be required to treat
as part of the amounts distributed to them, their pro rata portion of qualified
taxes paid or incurred by the Fund to foreign countries (which taxes relate
primarily to investment income). The Fund may make an election under Section 853
of the Code, provided that more than 50% of the value of the Fund's total assets
at the close of the taxable year consists of securities in foreign corporations,
and the Fund satisfies the applicable distribution provisions of the Code. The
foreign tax credit available to shareholders is subject to certain limitations
imposed by the Code.

Ordinarily, gains and losses realized from portfolio transactions will be
treated as capital gains and losses. However, a portion of the gain or loss
realized from the disposition of foreign currencies (including foreign currency
denominated bank deposits) and non-U.S. dollar denominated securities (including
debt instruments, certain financial futures or forward contracts and options)
may be treated as ordinary income or loss under Section 988 of the Code. In
addition, all or a portion of any gain realized from the sale or other
disposition of certain market discount bonds will be treated as ordinary income
under Section 1276 of the Code. Finally, all or a portion of the gain realized
from engaging in "conversion transactions" may be treated as ordinary income
under Section 1258 of the Code. "Conversion transactions" are defined to include
certain forward, futures, option and straddle transactions, transactions
marketed or sold to produce capital gains, or transactions described in Treasury
regulations to be issued in the future.

Under Section 1256 of the Code, any gain or loss realized by a Fund from
certain financial futures or forward contracts and options transactions (other
than those taxed under Section 988 of the Code) will be treated as 60% long-term
capital gain or loss and 40% short-term capital gain or loss. Gain or loss will
arise upon the exercise or lapse of such futures and options as well as from
closing transactions. In addition, any such contract or option remaining
unexercised at the end of the Fund's taxable year will be treated as sold for
their then fair market value, resulting in additional gain or loss to the Fund
characterized in the manner described above.

Offsetting positions held by a Fund involving certain futures or forward
contracts or options transactions may be considered, for tax purposes, to
constitute "straddles." Straddles are defined to include "offsetting positions"
in actively traded personal property. The tax treatment of straddles is governed
by Sections 1092 and 1258 of the Code, which, in certain circumstances, override
or modify the provisions of Sections 988 and 1256 of the Code. As such, all or a
portion of any short- or long-term capital gain from certain straddle
transactions may be recharacterized as ordinary income.

If a Fund were treated as entering into straddles by reason of its
engaging in certain futures or forward contracts or options transactions, such
straddles could be characterized as "mixed straddles" if the futures or forward
contracts or options transactions comprising such straddles were governed by
Section 1256 of the Code. The Fund may make one or more elections with respect
to "mixed straddles." Depending upon which election is made, if any, the results
to the Fund may differ. If no election is made, to the extent the straddle rules
apply to positions established by the Fund, losses realized by the Fund will be
deferred to the extent of unrealized gain in any offsetting positions. Moreover,
as a result of the straddle and conversion transaction rules, short-term capital
loss on straddle positions may be recharacterized as long-term capital loss,
and long-term capital gain on straddle positions may be treated as short-term
capital gain or ordinary income.

The Taxpayer Relief Act of 1997 included constructive sale provisions
that generally apply if a Fund either (1) holds an appreciated financial
position with respect to stock, certain debt obligations, or partnership
interests ("appreciated financial position") and then enters into a short sale,
futures or forward contract or offsetting notional principal contract
(collectively, a "Contract") with respect to the same or substantially identical
property or (2) holds an appreciated financial position that is a Contract and
then acquires property that is the same as, or substantially identical to, the
underlying property. In each instance, with certain exceptions, the Fund
generally will be taxed as if the appreciated financial position were sold at
its fair market value on the date the Fund enters into the financial position or
acquires the property, respectively. Transactions that are identified as hedging
or straddle transactions under other provisions of the Code can be subject to
the constructive sale provisions.

If a Fund invests in an entity that is classified as a "passive foreign
investment company" ("PFIC") for Federal income tax purposes, the operation of
certain provisions of the Code applying to PFICs could result in the imposition
of certain Federal income taxes on the Fund. In addition, gain realized from the
sale or other disposition of PFIC securities may be treated as ordinary income
under Section 1291 of the Code and, for tax years beginning after December 31,
1997, gain realized with respect to PFIC securities that are marked to market
will be treated as ordinary income under Section 1296 of the Code.

Investment by a Fund in securities issued or acquired at a discount, or
providing for deferred interest or for payment of interest in the form of
additional obligations could under special tax rules, affect the amount, timing
and character of distributions to shareholders by causing the Fund to recognize
income prior to the receipt of cash payments. For example, the Fund could be
required to accrue a portion of the discount (or deemed discount) at which the
securities were issued each year and to distribute such income in order to
maintain its qualification as a regulated investment company. In such case, the
Fund may have to dispose of securities which it might otherwise have continued
to hold in order to generate cash to satisfy these distribution requirements.

PORTFOLIO TRANSACTIONS

The Manager supervises the placement of orders on behalf of each Fund for
the purchase or sale of portfolio securities. Allocation of brokerage
transactions, including their frequency, is made in the best judgment of the
Manager (or, if applicable, the Fund's sub-investment adviser) and in a manner
deemed fair and reasonable to shareholders. The primary consideration is prompt
execution of orders at the most favorable net price. Subject to this
consideration, the brokers selected include those that supplement the Manager's
(and, if applicable, the Fund's sub-investment adviser's) research facilities
with statistical data, investment information, economic facts and opinions.
Information so received is in addition to and not in lieu of services required
to be performed by the Manager (and, if applicable, the Fund's sub-investment
adviser). Such information may be useful to the Manager in serving both the
Funds and other clients which it advises and, conversely, supplemental
information obtained by the placement of business of other clients may be useful
to the Manager (and, if applicable, the Fund's sub-investment adviser) in
carrying out its obligation to the Funds.

Sale of Fund shares by a broker may be taken into consideration, and
brokers also are selected because of their ability to handle special executions
such as are involved in large block trades or broad distributions, provided the
primary consideration is met. Large block trades, in certain cases, may result
from two or more clients the Manager might advise being engaged simultaneously
in the purchase or sale of the same security. Certain of a Fund's transactions
in securities of foreign issuers may not benefit from the negotiated commission
rates available to the Fund for transactions in securities of domestic issuers.
Foreign exchange transactions are made with banks or institutions in the
interbank market at prices reflecting a mark-up or mark-down and/or commission.
When transactions are executed in the over-the-counter market, a Fund will deal
with the primary market makers unless a more favorable price or execution
otherwise is obtainable.

Portfolio turnover may vary from year to year as well as within the year.
Dreyfus Premier International Growth Fund's portfolio turnover rate for the
fiscal years ended October 31, 1996 and 1997 was 176.17% and 161.62%,
respectively. Portfolio turnover may vary from year to year, as well as within a
year. High turnover rates are likely to result in comparatively greater
brokerage expenses. The overall reasonableness of brokerage commissions paid is
evaluated by the Manager based upon its knowledge of available information as to
the general level of commissions paid by other institutional investors for
comparable services.

For the fiscal years ended October 31, 1995, 1996 and 1997, Dreyfus
Premier International Growth Fund paid total brokerage commissions of
$1,272,683, $1,399,545 and $1,180,114, respectively, none of which was paid to
the Distributor. The above figures for brokerage commissions do not include
gross spreads and concessions on principal transactions, which, where
determinable, amounted to $252,390, $302,022 and $196,734, respectively, none of
which was paid to the Distributor.

Dreyfus Premier Greater China Fund, Dreyfus Premier Global Allocation
Fund and Dreyfus Premier European Equity Fund have not completed their first
fiscal year.

PERFORMANCE INFORMATION

Dreyfus Premier Greater China Fund, Dreyfus Premier Global Allocation
Fund and Dreyfus Premier European Equity Fund have not completed their first
fiscal year and, therefore, no performance data have been provided for such
Funds.

With respect to Dreyfus Premier International Growth Fund, the average
annual total return for Class A for the 1, 5 and 5.75 year periods ended October
31, 1997 was 8.41%, 8.86% and 9.36%, respectively. The average annual total
return for Class B for the 1 and 4.79 year periods ended October 31, 1997 was
10.18% and 9.43%, respectively. The average annual total return for Class C for
the 1 and 2.16 year periods ended October 31, 1997 was 13.19% and 10.98%,
respectively. The average annual total return for Class R for the 1 and 2.16
year periods ended October 31, 1997 was 15.21% and 12.03%, respectively. Average
annual total return is calculated by determining the ending redeemable value of
an investment purchased at net asset value (maximum offering price in the case
of Class A) per share with a hypothetical $1,000 payment made at the beginning
of the period (assuming the reinvestment of dividends and distributions),
dividing by the amount of the initial investment, taking the "n"th root of the
quotient (where "n" is the number of years in the period) and subtracting 1 from
the result. A Class' average annual total return figures calculated in
accordance with such formula assume that in the case of Class A the maximum
sales load has been deducted from the hypothetical initial investment at the
time of purchase or, in the case of Class B or Class C, the maximum applicable
CDSC has been paid upon redemption at the end of the period.

Total return is calculated by subtracting the amount of the Fund's net
asset value (maximum offering price in the case of Class A) per share at the
beginning of a stated period from the net asset value (maximum offering price in
the case of Class A) per share at the end of the period (after giving effect to
the reinvestment of dividends and distributions during the period and any
applicable CDSC), and dividing the result by the net asset value (maximum
offering price in the case of Class A) per share at the beginning of the period.
Total return also may be calculated based on the net asset value per share at
the beginning of the period instead of the maximum offering price per share at
the beginning of the period for Class A shares or without giving effect to any
applicable CDSC at the end of the period for Class B or Class C shares. In such
cases, the calculation would not reflect the deduction of the sales load with
respect to Class A shares or any applicable CDSC with respect to Class B or
Class C shares, which, if reflected, would reduce the performance quoted. With
respect to Dreyfus Premier International Growth Fund, the total return for Class
A for the period January 31, 1992 (commencement of operations) through October
31, 1997, based on maximum offering price per share, was 67.28%. Based on net
asset value per share, the total return for Class A was 77.45% for this period.
The total return for Class B of such Fund for the period January 15, 1993
(commencement of initial offering of Class B shares) through October 31, 1997,
without giving effect to the maximum applicable CDSC per share, was 55.95%. The
total return for Class B, after giving effect to the maximum applicable CDSC,
was 53.95% for this period. The total return for Class C of such Fund for the
period September 5, 1995 (commencement of initial offering of Class C shares)
through October 31, 1997 was 25.24%. The total return for Class R of such Fund
for the period September 5, 1995 (commencement of initial offering Class R
shares) through October 31, 1997 was 27.80%.

Comparative performance may be used from time to time in advertising a
Fund's shares, including data from Hang Seng Index, Hong Kong All Ordinaries
Index, China Affiliated Corporate Index, Taiwan Weighted Index, Shanghai and
Shenzhen B Share Indices, Morgan Stanley Capital International (MSCI) Europe
Index, MSCI Pacific Index, MSCI World Index, MSCI Emerging Markets Index, Lipper
Analytical Services, Inc., Standard & Poor's 500 Composite Stock Price Index,
the Dow Jones Industrial Average, Money Magazine, Morningstar ratings and
related analyses supporting the ratings and other industry publications. From
time to time, a Fund may compare its performance against inflation with the
performance of other instruments against inflation, such as short-term Treasury
Bills (which are direct obligations of the U.S. Government) and FDIC-insured
bank money market accounts. In addition, advertising for a Fund may indicate
that investors may consider diversifying their investment portfolios in order to
seek protection of the value of their assets against inflation. From time to
time, advertising materials for a Fund may refer to or discuss then-current or
past economic or financial conditions, developments and/or events. A Fund's
advertising materials also may refer to the integration of the world's
securities markets, discuss the investment opportunities available worldwide and
mention the increasing importance of an investment strategy including foreign
investments. From time to time, advertising material for a Fund may include
biographical information relating to its portfolio manager and may refer to, or
include commentary by, the portfolio manager relating to investment strategy,
asset growth, current or past business, political, economic or financial
conditions and other matters of general interest to investors.

INFORMATION ABOUT THE COMPANY AND THE FUNDS

Each Fund share has one vote and, when issued and paid for in accordance
with the terms of the offering, is fully paid and non-assessable. Fund shares
have no preemptive or subscription rights and are freely transferable.

Unless otherwise required by the 1940 Act, ordinarily it will not be
necessary for the Fund to hold annual meetings of shareholders. As a result,
Fund shareholders may not consider each year the election of Board members or
the appointment of auditors. However, the holders of at least 10% of the shares
outstanding and entitled to vote may require the Company to hold a special
meeting of shareholders for purposes of removing a Board member from office.
Shareholders may remove a Board member by the affirmative vote of a majority of
the Company's outstanding voting shares. In addition, the Board will call a
meeting of shareholders for the purpose of electing Board members if, at any
time, less than a majority of the Board members then holding office have been
elected by shareholders.

The Company is a "series fund," which is a mutual fund divided into
separate portfolios, each of which is treated as a separate entity for certain
matters under the 1940 Act and for other purposes. A shareholders of one
portfolio is not deemed to be a shareholder of any other portfolio. For certain
matters shareholders vote together as a group; as to others they vote separately
by portfolio.

To date, the Board has authorized the creation of four series of shares.
All consideration received by the Company for shares of one of the series and
all assets in which such consideration is invested will belong to that series
(subject only to the rights of creditors of the Company) and will be subject to
the liabilities related thereto. The income attributable to, and the expenses
of, one series are treated separately from those of the other series. The
Company has the ability to create, from time to time, new series without
shareholder approval.

Rule 18f-2 under the 1940 Act provides that any matter required to be
submitted under the provisions of the 1940 Act or applicable state law or
otherwise to the holders of the outstanding voting securities of an investment
company, such as the Company, will not be deemed to have been effectively acted
upon unless approved by the holders of a majority of the outstanding shares of
each series affected by such matter. Rule 18f-2 further provides that a series
shall be deemed to be affected by a matter unless it is clear that the interests
of each series in the matter are identical or that the matter does not affect
any interest of such series. However, the Rule exempts the selection of
independent accountants and the election of Board members from the separate
voting requirements of the Rule.

Each Fund is intended to be a long-term investment vehicle and is not
designed to provide investors with a means of speculating on short-term market
movements. A pattern of frequent purchases and exchanges can be disruptive to
efficient portfolio management and, consequently, can be detrimental to the
Fund's performance and its shareholders. Accordingly, if the Company's
management determines that an investor is following a market-timing strategy or
is otherwise engaging in excessive trading, the Company, with or without prior
notice, may temporarily or permanently terminate the availability of Fund
Exchanges, or reject in whole or part any purchase or exchange request, with
respect to such investor's account. Such investors also may be barred from
purchasing other funds in the Dreyfus Family of Funds. Generally, an investor
who makes more than four exchanges out of a Fund during any calendar year (for
calendar year 1998, beginning on January 15th) or who makes exchanges that
appear to coincide with a market-timing strategy may be deemed to be engaged in
excessive trading. Accounts under common ownership or control will be considered
as one account for purposes of determining a pattern of excessive trading. In
addition, the Company may refuse or restrict purchase or exchange requests for
Fund shares by any person or group if, in the judgment of the Company's
management, the Fund would be unable to invest the money effectively in
accordance with its investment objective and policies or could otherwise be
adversely affected or if the Fund receives or anticipates receiving simultaneous
orders that may significantly affect the Fund (e.g., amounts equal to 1% or more
of the Fund's total assets). If an exchange request is refused, the Company will
take no other action with respect to the Fund shares until it receives further
instructions from the investor. A Fund may delay forwarding redemption proceeds
for up to seven days if the investor redeeming shares is engaged in excessive
trading or if the amount of the redemption request otherwise would be disruptive
to efficient portfolio management or would adversely affect the Fund. The
Company's policy on excessive trading applies to investors who invest in a Fund
directly or through financial intermediaries, but does not apply to the Auto-
Exchange Privilege, to any automatic investment or withdrawal privilege
described herein, or to participants in employer-sponsored retirement plans.

During times of drastic economic or market conditions, the Company may
suspend Fund Exchanges temporarily without notice and treat exchange requests
based on their separate components -- redemption orders with a simultaneous
request to purchase the other fund's shares. In such a case, the redemption
request would be processed at the Fund's next determined net asset value but the
purchase order would be effective only at the net asset value next determined
after the fund being purchased receives the proceeds of the redemption, which
may result in the purchase being delayed.

Each Fund will send annual and semi-annual financial statements to all
its shareholders.

COUNSEL AND INDEPENDENT AUDITORS

Stroock & Stroock & Lavan LLP, 180 Maiden Lane, New York, New York
10038-4982, as counsel for the Company, has rendered its opinion as to certain
legal matters regarding the due authorization and valid issuance of the shares
being sold pursuant to each Fund's Prospectus.

________________________________________________________, independent
auditors, have been selected as auditors of the Company.

FINANCIAL STATEMENTS AND REPORTS OF INDEPENDENT AUDITORS

The Annual Report and to Shareholders for the fiscal year ended October
31, 1997 for Dreyfus Premier International Growth Fund is a separate document
supplied with this Statement of Additional Information, and the financial
statements, accompanying notes and report of independent auditors appearing
therein are incorporated by reference into this Statement of Additional
Information. Dreyfus Premier Greater China Fund, Dreyfus Premier Global
Allocation Fund and Dreyfus Premier European Equity Fund have not completed
their first fiscal year.

<PAGE>

APPENDIX

Description of certain ratings assigned by Standard & Poor's Ratings
Group ("S&P"), Moody's Investors Service, Inc. ("Moody's"), Fitch IBCA, Inc.
("Fitch") and Duff & Phelps Credit Rating Co. ("Duff"):

S&P

BOND RATINGS
- ------------

AAA

Bonds rated AAA have the highest rating assigned by S&P. Capacity
to pay interest and repay principal is extremely strong.

Bonds rated AA have a very strong capacity to pay interest and
repay principal and differ from the highest rated issues only in small degree.

Bonds rated A have a strong capacity to pay interest and repay
principal although they are somewhat more susceptible to the adverse effects of
changes in circumstances and economic conditions than obligations in higher
rated categories.

BBB

Bonds rated BBB are regarded as having an adequate capacity to pay
interest and repay principal. Whereas they normally exhibit adequate protection
parameters, adverse economic conditions or changing circumstances are more
likely to lead to a weakened capacity to pay interest and repay principal for
bonds in this category than for bonds in higher rated categories.

Debt rated BB has less near-term vulnerability to default than
other speculative grade debt. However, it faces major ongoing uncertainties or
exposure to adverse business, financial or economic conditions which could lead
to inadequate capacity to meet timely interest and principal payment.

Debt rated B has a greater vulnerability to default but presently
has the capacity to meet interest payments and principal repayments. Adverse
business, financial or economic conditions would likely impair capacity or
willingness to pay interest and repay principal.

CCC

Debt rated CCC has a current identifiable vulnerability to
default, and is dependent upon favorable business, financial and economic
conditions to meet timely payments of principal. In the event of adverse
business, financial or economic conditions, it is not likely to have the
capacity to pay interest and repay principal.

S&P's letter ratings may be modified by the addition of a plus (+)
or minus (-) sign designation, which is used to show relative standing within
the major rating categories, except in the AAA (Prime Grade) category.

COMMERCIAL PAPER RATING
- -----------------------

The designation A-1 by S&P indicates that the degree of safety
regarding timely payment is either overwhelming or very strong. Those issues
determined to possess overwhelming safety characteristics are denoted with a
plus sign (+) designation.

Moody's

BOND RATINGS
- ------------

Aaa

Bonds which are rated Aaa are judged to be of the best quality.
They carry the smallest degree of investment risk and are generally referred to
as "gilt edge." Interest payments are protected by a large or by an
exceptionally stable margin and principal is secure. While the various
protective elements are likely to change, such changes as can be visualized are
most unlikely to impair the fundamentally strong position of such issues.

Bonds which are rated Aa are judged to be of high quality by all
standards. Together with the Aaa group they comprise what generally are known as
high grade bonds. They are rated lower than the best bonds because margins of
protection may not be as large as in Aaa securities or fluctuation of protective
elements may be of greater amplitude or there may be other elements present
which make the long-term risks appear somewhat larger than in Aaa securities.

Bonds which are rated A possess many favorable investment
attributes and are to be considered as upper medium grade obligations. Factors
giving security to principal and interest are considered adequate, but elements
may be present which suggest a susceptibility to impairment sometime in the
future.

Baa

Bonds which are rated Baa are considered as medium grade
obligations, i.e., they are neither highly protected nor poorly secured.
Interest payments and principal security appear adequate for the present but
certain protective elements may be lacking or may be characteristically
unreliable over any great length of time. Such bonds lack outstanding investment
characteristics and in fact have speculative characteristics as well.

Bonds which are rated Ba are judged to have speculative elements;
their future cannot be considered as well assured. Often the protection of
interest and principal payments may be very moderate, and therefore not well
safeguarded during both good and bad times over the future. Uncertainty of
position characterizes bonds in this class.

Bonds which are rated B generally lack characteristics of the
desirable investment. Assurance of interest and principal payments or of
maintenance of other terms of the contract over any long period of time may be
small.

Caa

Bonds which are rated Caa are of poor standing. Such issues may be
in default or there may be present elements of danger with respect to principal
or interest.

Moody's applies the numerical modifiers 1, 2 and 3 to show
relative standing within the major rating categories, except in the Aaa category
and in the categories below B. The modifier 1 indicates a ranking for the
security in the higher end of a rating category; the modifier 2 indicates a
mid-range ranking, and the modifier 3 indicates a ranking in the lower end of a
rating category.

COMMERCIAL PAPER RATING
- -----------------------

The rating Prime-1 (P-1) is the highest commercial paper rating
assigned by Moody's. Issuers of P-1 paper must have a superior capacity for
repayment of short-term promissory obligations, and ordinarily will be evidenced
by leading market positions in well established industries, high rates of return
on funds employed, conservative capitalization structures with moderate reliance
on debt and ample asset protection, broad margins in earnings coverage of fixed
financial charges and high internal cash generation, and well established access
to a range of financial markets and assured sources of alternate liquidity.

BOND RATINGS
- ------------

The ratings represent Fitch's assessment of the issuer's ability
to meet the obligations of a specific debt issue or class of debt. The ratings
take into consideration special features of the issue, its relationship to other
obligations of the issuer, the current financial condition and operative
performance of the issuer and of any guarantor, as well as the political and
economic environment that might affect the issuer's future financial strength
and credit quality.

AAA

Bonds rated AAA are considered to be investment grade and of the
highest credit quality. The obligor has an exceptionally strong ability to pay
interest and repay principal, which is unlikely to be affected by reasonably
foreseeable events.

Bonds rated AA are considered to be investment grade and of very
high credit quality. The obligor's ability to pay interest and repay principal
is very strong, although not quite as strong as bonds rated AAA. Because bonds
rated in the AAA and AA categories are not significantly vulnerable to
foreseeable future developments, short-term debt of these issuers is generally
rated F-1+.

Bonds rated A are considered to be investment grade and of high
credit quality. The obligor's ability to pay interest and repay principal is
considered to be strong, but may be more vulnerable to adverse changes in
economic conditions and circumstances than bonds with higher ratings.

BBB

Bonds rated BBB are considered to be investment grade and of
satisfactory credit quality. The obligor's ability to pay interest and repay
principal is considered to be adequate. Adverse changes in economic conditions
and circumstances, however, are more likely to have an adverse impact on these
bonds and, therefore, impair timely payment. The likelihood that the ratings of
these bonds will fall below investment grade is higher than for bonds with
higher ratings.

Bonds rated BB are considered speculative. The obligor's ability
to pay interest and repay principal may be affected over time by adverse
economic changes. However, business and financial alternatives can be identified
which could assist the obligor in satisfying its debt service requirements.

Bonds rated B are considered highly speculative. While bonds in
this class are currently meeting debt service requirements, the probability of
continued timely payment of principal and interest reflects the obligor's
limited margin of safety and the need for reasonable business and economic
activity throughout the life of the issue.

CCC

Bonds rated CCC have certain identifiable characteristics, which,
if not remedied, may lead to default. The ability to meet obligations requires
an advantageous business and economic environment.

Plus (+) and minus (-) signs are used with a rating symbol to
indicate the relative position of a credit within the rating category.

SHORT-TERM RATINGS
- ------------------

Fitch's short-term ratings apply to debt obligations that are
payable on demand or have original maturities of up to three years, including
commercial paper, certificates of deposit, medium-term notes, and municipal and
investment notes.

Although the credit analysis is similar to Fitch's bond rating
analysis, the short-term rating places greater emphasis than bond ratings on
the existence of liquidity necessary to meet the issuer's obligations in a
timely manner.

F-1+

EXCEPTIONALLY STRONG CREDIT QUALITY. Issues assigned this rating
are regarded as having the strongest degree of assurance for timely payment.

F-1

VERY STRONG CREDIT QUALITY. Issues assigned this rating reflect an
assurance of timely payment only slightly less in degree than issues rated F-1+.

Duff

BOND RATINGS
- ------------

AAA

Bonds rated AAA are considered highest credit quality. The risk
factors are negligible, being only slightly more than for risk-free U.S.
Treasury debt.

Bonds rated AA are considered high credit quality. Protection
factors are strong. Risk is modest but may vary slightly from time to time
because of economic conditions.

Bonds rated A have protection factors which are average but
adequate. However, risk factors are more variable and greater in periods of
economic stress.

BBB

Bonds rated BBB are considered to have below average protection
factors but still considered sufficient for prudent investment. Considerable
variability in risk exists during economic cycles.

Bonds rated BB are below investment grade but are deemed by Duff
as likely to meet obligations when due. Present or prospective financial
protection factors fluctuate according to industry conditions or company
fortunes. Overall quality may move up or down frequently within the category.

Bonds rated B are below investment grade and possess the risk that
obligations will not be met when due. Financial protection factors will
fluctuate widely according to economic cycles, industry conditions and/or
company fortunes. Potential exists for frequent changes in quality rating within
this category or into a higher or lower quality rating grade.

CCC

Bonds rated CCC are well below investment grade securities. Such
bonds may be in default or have considerable uncertainty as to timely payment of
interest, preferred dividends and/or principal. Protection factors are narrow
and risk can be substantial with unfavorable economic or industry conditions
and/or with unfavorable company developments.

Plus (+) and minus (-) signs are used with a rating symbol (except
AAA) to indicate the relative position of a credit within the rating category.

COMMERCIAL PAPER RATING
- -----------------------

The rating Duff-1 is the highest commercial paper rating assigned
by Duff. Paper rated Duff-1 is regarded as having very high certainty of timely
payment with excellent liquidity factors which are supported by ample asset
protection. Risk factors are minor.

<PAGE>

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.

PART C. OTHER INFORMATION

Item 23. Exhibits. - List
- ------- ------------------

Exhibits:

(1) Registrant's Articles of Incorporation and Articles of Amendment are
incorporated by reference to Exhibit(1)(a) of Post-Effective
Amendment No. 6 to the Registration Statement on Form N-1A, filed on
December 28, 1994.

(2) Registrant's By-Laws, as amended, are incorporated by reference to
Exhibit (2) of Post-Effective Amendment No. 6 to the Registration
Statement on Form N-1A, filed December 28, 1994.

(4)(a) Management Agreement, as revised.

(4)(b) Sub-Investment Advisory Agreement between The Dreyfus Corporation and
Hamon U.S. Investment Advisors Limited is incorporated by reference
to Exhibit 5(b) of Post-Effective Amendment No. 17 to the Registration
Statement on Form N-1A, filed on May 5, 1998.

(4)(c) Sub-Investment Advisory Agreement between The Dreyfus Corporation and
Newton Capital Management Limited.

(5)(a) Distribution Agreement, as revised.

(5)(b) Forms of Shareholder Services Agreement and Distribution Plan
Agreement are incorporated by reference to Exhibit 6(b) of
Post-Effective Amendment No. 6 to the Registration Statement on Form
N-1A, filed on December 28, 1994.

(7) Amended and Restated Custody Agreement is incorporated by reference to
Exhibit 8(a) of Post-Effective Amendment No. 6 to the Registration
Statement on Form N-1A, filed on December 28, 1994.

(8) Shareholder Services Plan, as revised.

(9) Opinion and consent of Registrant's counsel is incorporated by
reference to Exhibit (10) of Post-Effective Amendment No. 6 to the
Registration Statement on Form N-1A, filed on December 28, 1994.

(10) Consent of Independent Auditors, to be filed by amendment.

(13) Distribution Plan, as revised.

(14) Financial Data Schedule is incorporated by reference to Exhibit (17)
of Post-Effective Amendment No. 11 to the Registration Statement
on Form N-1A, filed on February 26, 1997.

(15) Rule 18f-3 Plan, as revised.

OTHER EXHIBITS
- ----------------

(a) Power of Attorney of the Chairman of the
Board is incorporated by reference to Other
Exhibits (a) of Post-Effective Amendment No.
8 to the Registration Statement on Form
N-1A, filed on February 29, 1996. Powers of
Attorney of the Directors and Officers.

(b) Certificate of Secretary is incorporated by
reference to Other Exhibits (b) of Post-
Effective Amendment No. 11 to the
Registration Statement on Form N-1A filed on
February 26, 1997.

Item 24. Persons Controlled by or Under Common Control with Registrant.
- ------- --------------------------------------------------------------

Not Applicable

Item 25. Indemnification
- ------- ---------------

The Statement as to the general effect of any contract, arrangements
or statute under which a director, officer, underwriter or affiliated
person of the Registrant is insured or indemnified in any manner
against any liability which may be incurred in such capacity, other
than insurance provided by any director, officer, affiliated person or
underwriter for their own protection, is incorporated by reference to
Item 27 of Part C of Post-Effective Amendment No. 17 to the
Registration Statement on Form N-1A, filed on May 5, 1998.

Reference is also made to the Distribution Agreement attached as
Exhibit (6)(a).

Item 26. Business and Other Connections of Investment Adviser.
- ------- ----------------------------------------------------

The Dreyfus Corporation ("Dreyfus") and subsidiary companies comprise
a financial service organization whose business consists primarily of
providing investment management services as the investment adviser,
manager and distributor for sponsored investment companies registered
under the Investment Company Act of 1940 and as an investment adviser
to institutional and individual accounts. Dreyfus also serves as
sub-investment adviser to and/or administrator of other investment
companies. Dreyfus Service Corporation, a wholly-owned subsidiary of
Dreyfus, serves primarily as a registered broker-dealer of shares of
investment companies sponsored by Dreyfus and of other investment
companies for which Dreyfus acts as investment adviser, sub-
investment adviser or administrator. Dreyfus Investment Advisors,
Inc., another wholly-owned subsidiary, provides investment management
services to various pension plans, institutions and individuals.

Officers and Directors of Investment Adviser
--------------------------------------------

Name and Position
with Dreyfus Other Businesses
- ----------------- ----------------

W. KEITH SMITH Senior Vice Chairman:
Chairman of the Mellon Bank, N.A.*;
Board President and Director:
The Bridgewater Land Co., Inc.**;
Mellon Preferred Capital Corporation**;
TBC Securities Co., Inc.**;
Wellington-Medford II Properties, Inc.**;
Chairman, President and Chief Executive Officer:
Shearson Summit Euromanagement, Inc.*;
Shearson Summit EuroPartners, Inc.*;
Shearson Summit Management, Inc.*;
Shearson Summit Partners, Inc.*;
Shearson Venture Capital, Inc.*;
Chairman and Chief Executive Officer:
The Boston Company, Inc.**;
Boston Safe Deposit and Trust Company**;
Boston Group Holdings, Inc.**;
Director:
Dentsply International, Inc.
570 West College Avenue
York, Pennsylvania 17405;
The Boston Company Asset Management, Inc.**;
Mellon Europe Limited
London, England;
Mellon Global Investing Corp.*;
Mellon Accounting Services, Inc.*;
MGIC-UK Ltd.;
Mellon Capital Management Corporation***;
Chairman:
Mellon Financial Company*;
Buck Consultants, Inc.
1 Pennsylvania Plaza, 29th Floor
New York, New York 10019;
Director and Vice Chairman:
Mellon Financial Services Corporation*;
Mellon Bank Corporation*;
Trustee:
Laurel Capital Advisors, LLP*;
Mellon Equity Associates, LLP*;
Mellon Bond Associates, LLP*;
Past Director:
Access Capital Strategies Corp.
124 Mount Auburn Street
Suite 200 North
Cambridge, MA 02138
Past Trustee:
Franklin Portfolio Associates Trust
2 International Place, 22nd Floor
Boston, MA 02110

MANDELL L. BERMAN Real estate consultant and private investor:
Director 29100 Northwestern Highway, Suite 370
Southfield, Michigan 48034

BURTON C. BORGELT Director:
Director Dentsply International, Inc.
570 West College Avenue
York, Pennsylvania 17405;
DeVlieg-Bullard, Inc.
1 Gorham Island
Westport, Connecticut 06880;
Mellon Bank Corporation*;
Mellon Bank, N.A.*

FRANK V. CAHOUET Chairman of the Board, President and
Director Chief Executive Officer:
Mellon Bank Corporation*;
Director:
Avery Dennison Corporation
150 North Orange Grove Boulevard
Pasadena, California 91103;
Saint-Gobain Corporation
750 East Swedesford Road
Valley Forge, Pennsylvania 19482;
Alleghany Teledyne, Inc.
1901 Avenue of the Stars
Los Angeles, California 90067;
Past Chairman, President and Chief Executive Officer:
Mellon Bank, N.A.*

STEPHEN E. CANTER Chairman and President:
Vice Chairman, Dreyfus Investment Advisors, Inc.****;
Chief Investment Director:
Officer, and a The Dreyfus Trust Company+;
Director Acting Chief Executive Officer:
Founders Asset Management, Inc.
2930 E. 3rd Avenue
Denver, CO 80206

CHRISTOPHER M. CONDRON President and Chief Operating Officer:
President, Chief Mellon Bank, N.A.*;
Executive Officer, President and Director:
Chief Operating Boston Safe Advisors, Inc.**;
Officer and a Vice-Chairman and Director:
Director Mellon Bank Corporation*;
The Boston Company, Inc.**;
Director:
Certus Asset Advisors Corporation++;
Mellon Capital Management Corporation***;
Boston Safe Deposit and Trust Company**;
Past President and Director:
The Boston Company Financial Services,
Inc.**;
Boston Safe Deposit and Trust Company**;
Past President:
The Boston Company Financial Strategies,
Inc.**;
Acting Chief Executive Officer:
Founders Asset Management, Inc.
Denver, CO
Past Director:
Mellon Preferred Capital Corporation**;
Access Capital Strategies Corp.
124 Mount Auburn Street
Suite 200 North
Cambridge, MA 02138;
Past Chairman, President, and Chief Executive
Officer:
The Boston Company Asset Management, Inc.**;
Past Partner Representative:
Pareto Partners
271 Regent Street
London, England W1R 8PP;
Past Trustee:
Franklin Portfolio Associates Trust
2 International Place, 22nd Floor
Boston, MA 02710;
Mellon Bond Associates, LLP*;
Mellon Equity Associates, LLP*;

LAWRENCE S. KASH Executive Vice President:
Vice Chairman- Mellon Bank, N.A.*;
Distribution and a Chairman, President and Director:
Director The Dreyfus Consumer Credit Corporation****;
Trustee, President and Chief Executive Officer:
Laurel Capital Advisors, LLP*;
Director:
Dreyfus Investment Advisors, Inc.****;
Seven Six Seven Agency, Inc.****;
President and Director:
Dreyfus Service Corporation+;
Dreyfus Precious Metals, Inc.+;
Dreyfus Service Organization, Inc.****;
The Boston Company, Inc.**;
Boston Group Holdings, Inc.**;
Chairman and Chief Executive Officer:
Dreyfus Brokerage Services, Inc.
401 North Maple Avenue
Beverly Hills, CA 90210;
Chairman, President and Chief Executive Officer:
The Dreyfus Trust Company+;
The Boston Company Advisors, Inc.
Wilmington, DE.

J. DAVID OFFICER Director:
Vice Chairman Dreyfus Financial Services Corporation*****;
and a Director Dreyfus Investment Services
Corporation*****;
Mellon Trust of Florida
2875 Northeast 191st Street
North Miami Beach, Florida
33180; Mellon Preferred
Capital Corporation**;
Boston Group Holdings,
Inc.**; Mellon Trust of New
York 1301 Avenue of the
Americas - 41st Floor New
York, New York 10019;
Mellon Trust of California
400 South Hope Street Los
Angeles, California
90071-2806; Dreyfus
Insurance Agency of
Massachusetts, Inc. 53
State Street Boston,
Massachusetts 02109;
Executive Vice President:
Dreyfus Service Corporation****;
Mellon Bank, N.A.*;
Vice Chairman and Director:
The Boston Company, Inc.**;
President and Director:
RECO, Inc.**;
The Boston Company Financial Services,
Inc.**;
Boston Safe Deposit and Trust Company**;

RICHARD F. SYRON Chairman of the Board and Chief Executive Officer:
Director American Stock Exchange
86 Trinity Place
New York, New York 10006;
Director:
John Hancock Mutual Life Insurance Company
John Hancock Place, Box 111
Boston, Massachusetts
02117; Thermo Electron
Corporation 81 Wyman
Street, Box 9046 Waltham,
Massachusetts 02254-9046;
American Business
Conference 1730 K Street,
NW, Suite 120 Washington,
D.C. 20006;
Trustee:
Boston College - Board of Trustees
140 Commonwealth Ave.
Chestnut Hill, Massachusetts 02167-3934

RONALD P. O'HANLEY III Director:
Vice Chairman The Boston Company Asset Management, LLC**;
TBCAM Holding, Inc.**;
Franklin Portfolio Holdings, Inc.
Two International Place - 22nd Floor
Boston, Massachusetts 02110;
Mellon Capital Management Corporation***;
Certus Asset Advisors Corporation++;
Mellon-France Corporation***;
Chairman and Director:
Boston Safe Advisors, Inc.**;
Partner Representative:
Pareto Partners
271 Regent Street
London, England W1R 8PP;
Chairman and Trustee:
Mellon Bond Associates, LLP*;
Mellon Equity Associates, LLP*;
Trustee:
Laurel Capital Advisors, LLP*;
Chairman, President and Chief Executive Officer:
Mellon Global Investing Corp.*;
Partner:
McKinsey & Company, Inc.
Boston, Massachusetts

WILLIAM T. SANDALLS, JR. Chairman and Director:
Executive Vice President Dreyfus Transfer, Inc.
One American Express Plaza
Providence, Rhode Island 02903;
President and Director:
Dreyfus-Lincoln, Inc.
4500 New Linden Hill Rd.
Wilmington, DE 19808;
Executive Vice President and Chief Financial Officer:
Dreyfus Service Corporation****;
Executive Vice President, Treasurer and Director:
Dreyfus Service Organization, Inc.****;
Director and Treasurer:
Dreyfus Investment Advisors, Inc.****;
Seven Six Seven Agency, Inc.****;
Dreyfus Precious Metals, Inc.+;
Director, Vice President and Treasurer:
The Dreyfus Consumer Credit Corporation****;
The TruePenny Corporation****
Director, Treasurer and Chief Financial Officer:
The Dreyfus Trust Company+;
Past Director and President:
Lion Management, Inc.****;
Dreyfus Partnership Management, Inc.****;
Past Director and Executive Vice President:
Dreyfus Service Organization, Inc.****;
Past Director and Treasurer:
Dreyfus Personal Management, Inc.****

MARK N. JACOBS Director:
Vice President, Dreyfus Service Organization, Inc.****;
General Counsel The Dreyfus Trust Company+;
and Secretary Dreyfus Investment Advisors, Inc.****;
Director and President:
The TruePenny Corporation****;
Past Director, Vice President and Secretary:
Lion Management, Inc.****
Past Secretary:
The TruePenny Corporation****;
Dreyfus Investment Advisers****

PATRICE M. KOZLOWSKI None
Vice President-
Corporate Communications

MARY BETH LEIBIG None
Vice President-
Human Resources

ANDREW S. WASSER Vice President:
Vice President- Mellon Bank Corporation*
Information Services

JAMES BITETTO Secretary:
Assistant Secretary The TruePenny Corporation****;
Assistant Secretary:
Dreyfus Service Corporation****;
Dreyfus Investment Advisers, Inc.****;
Dreyfus Service Organization, Inc.****

STEVEN F. NEWMAN Vice President, Secretary and Director:
Assistant Secretary Dreyfus Transfer, Inc.
One American Express Plaza
Providence, Rhode Island 02903;
Secretary:
Dreyfus Service Organization, Inc.****

Wendy Strutt None
Vice President

Richard Terres None
Vice President

William H. Maresca Director:
Controller The Dreyfus Trust Company+;
Chief Financial Officer:
Dreyfus Transfer, Inc.
One American Express Plaza
Providence, Rhode Island 02903;
Assistant Treasurer:
Dreyfus Service Organization, Inc.****

- ---------------------------
* The address of the business so indicated is One Mellon Bank Center,
Pittsburgh, Pennsylvania 15258.
** The address of the business so indicated is One Mellon Bank Place,
Boston, Massachusetts, 02108.
*** The address of the business so indicated is 595 Market Street, Suite
3000, San Francisco, CA 94105.
**** The address of the business so indicated is 200 Park Avenue, New York,
New York 10166.
***** The address of the business so indicated is Union Trust Building, 501
Grant Street, Pittsburgh, PA 15259.
+ The address of the business so indicated is 144 Glenn Curtiss Boulevard,
Uniondale, New York 11556-0144.
++ The address of the business so indicated is One Bush Street, Suite 450,
San Francisco, CA 94104.

Item 27. Principal Underwriters
- -------- ----------------------

(a) Other investment companies for which Registrant's principal underwriter
(exclusive distributor) acts as principal underwriter or exclusive distributor:

1) Comstock Partners Funds, Inc.
2) Dreyfus A Bonds Plus, Inc.
3) Dreyfus Appreciation Fund, Inc.
4) Dreyfus Asset Allocation Fund, Inc.
5) Dreyfus Balanced Fund, Inc.
6) Dreyfus BASIC GNMA Fund
7) Dreyfus BASIC Money Market Fund, Inc.
8) Dreyfus BASIC Municipal Fund, Inc.
9) Dreyfus BASIC U.S. Government Money Market Fund
10) Dreyfus California Intermediate Municipal Bond Fund
11) Dreyfus California Tax Exempt Bond Fund, Inc.
12) Dreyfus California Tax Exempt Money Market Fund
13) Dreyfus Cash Management
14) Dreyfus Cash Management Plus, Inc.
15) Dreyfus Connecticut Intermediate Municipal Bond Fund
16) Dreyfus Connecticut Municipal Money Market Fund, Inc.
17) Dreyfus Florida Intermediate Municipal Bond Fund
18) Dreyfus Florida Municipal Money Market Fund
19) The Dreyfus Fund Incorporated
20) Dreyfus Global Bond Fund, Inc.
21) Dreyfus Global Growth Fund
22) Dreyfus GNMA Fund, Inc.
23) Dreyfus Government Cash Management Funds
24) Dreyfus Growth and Income Fund, Inc.
25) Dreyfus Growth and Value Funds, Inc.
26) Dreyfus Growth Opportunity Fund, Inc.
27) Dreyfus Income Funds
28) Dreyfus Index Funds, Inc.
29) Dreyfus Institutional Money Market Fund
30) Dreyfus Institutional Preferred Money Market Fund
31) Dreyfus Institutional Short Term Treasury Fund
32) Dreyfus Insured Municipal Bond Fund, Inc.
33) Dreyfus Intermediate Municipal Bond Fund, Inc.
34) Dreyfus International Funds, Inc.
35) Dreyfus Investment Grade Bond Funds, Inc.
36) The Dreyfus/Laurel Funds, Inc.
37) The Dreyfus/Laurel Funds Trust
38) The Dreyfus/Laurel Tax-Free Municipal Funds
39) Dreyfus LifeTime Portfolios, Inc.
40) Dreyfus Liquid Assets, Inc.
41) Dreyfus Massachusetts Intermediate Municipal Bond Fund
42) Dreyfus Massachusetts Municipal Money Market Fund
43) Dreyfus Massachusetts Tax Exempt Bond Fund
44) Dreyfus MidCap Index Fund
45) Dreyfus Money Market Instruments, Inc.
46) Dreyfus Municipal Bond Fund, Inc.
47) Dreyfus Municipal Cash Management Plus
48) Dreyfus Municipal Money Market Fund, Inc.
49) Dreyfus New Jersey Intermediate Municipal Bond Fund
50) Dreyfus New Jersey Municipal Bond Fund, Inc.
51) Dreyfus New Jersey Municipal Money Market Fund, Inc.
52) Dreyfus New Leaders Fund, Inc.
53) Dreyfus New York Insured Tax Exempt Bond Fund
54) Dreyfus New York Municipal Cash Management
55) Dreyfus New York Tax Exempt Bond Fund, Inc.
56) Dreyfus New York Tax Exempt Intermediate Bond Fund
57) Dreyfus New York Tax Exempt Money Market Fund
58) Dreyfus 100% U.S. Treasury Money Market Fund
59) Dreyfus Pennsylvania Intermediate Municipal Bond Fund
60) Dreyfus Pennsylvania Municipal Money Market Fund
61) Dreyfus Premier California Municipal Bond Fund
62) Dreyfus Premier Equity Funds, Inc.
63) Dreyfus Premier International Funds, Inc.
64) Dreyfus Premier GNMA Fund
65) Dreyfus Premier Worldwide Growth Fund, Inc.
66) Dreyfus Premier Insured Municipal Bond Fund
67) Dreyfus Premier Municipal Bond Fund
68) Dreyfus Premier New York Municipal Bond Fund
69) Dreyfus Premier State Municipal Bond Fund
70) Dreyfus Premier Value Fund
71) Dreyfus Short-Intermediate Government Fund
72) Dreyfus Short-Intermediate Municipal Bond Fund
73) The Dreyfus Socially Responsible Growth Fund, Inc.
74) Dreyfus Stock Index Fund, Inc.
75) Dreyfus Tax Exempt Cash Management
76) The Dreyfus Third Century Fund, Inc.
77) Dreyfus Treasury Cash Management
78) Dreyfus Treasury Prime Cash Management
79) Dreyfus U.S. Treasury Intermediate Term Fund
80) Dreyfus U.S. Treasury Long Term Fund
81) Dreyfus U.S. Treasury Short Term Fund
82) Dreyfus Variable Investment Fund
83) Dreyfus Worldwide Dollar Money Market Fund, Inc.
84) General California Municipal Bond Fund, Inc.
85) General California Municipal Money Market Fund
86) General Government Securities Money Market Fund, Inc.
87) General Money Market Fund, Inc.
88) General Municipal Bond Fund, Inc.
89) General Municipal Money Market Funds, Inc.
90) General New York Municipal Bond Fund, Inc.
91) General New York Municipal Money Market Fund
<PAGE>
(b)
Positions and
Name and principal Positions and offices with offices with
business address Premier Mutual Fund Services, Inc. Registrant
- ------------------ ---------------------------------- -------------

Marie E. Connolly+ Director, President, Chief President and
Executive Officer and Compliance Treasurer
Officer

Joseph F. Tower, III+ Director, Senior Vice President, Vice President
Treasurer and Chief Financial Officer and Assistant
Treasurer

Mary A. Nelson+ Vice President Vice President
and Assistant
Treasurer

Paul Prescott+ Vice President None

Jean M. O'Leary+ Assistant Secretary and None
Assistant Clerk

John W. Gomez+ Director None

William J. Nutt+ Director None

- --------------------------------
+ Principal business address is 60 State Street, Boston, Massachusetts 02109.

Item 28. Location of Accounts and Records
--------------------------------

1. First Data Investor Services Group, Inc.,
a subsidiary of First Data Corporation
P.O. Box 9671
Providence, Rhode Island 02940-9671

2. The Bank of New York
90 Washington Street
New York, New York 10286

3. Dreyfus Transfer, Inc.
P.O. Box 9671
Providence, Rhode Island 02940-9671

4. The Dreyfus Corporation
200 Park Avenue
New York, New York 10166

Item 29. Management Services
- ------- -------------------

Not Applicable

Item 30. Undertakings
- -------- ------------

Not Applicable
<PAGE>
SIGNATURES
----------

Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant has duly caused this Amendment to
the Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of New York, and State of New York on the
5th day of October, 1998

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.
(Registrant)

BY: /s/Marie E. Connolly*
MARIE E. CONNOLLY, PRESIDENT

Pursuant to the requirements of the Securities Act of 1933, this Amendment to
the Registration Statement has been signed below by the following persons in the
capacities and on the date indicated.

Signatures Title Date
- -------------------------- ------------------------------ ----------

/s/ Marie E. Connolly* President and Treasurer 10/5/98
- ------------------------- (Principal Executive Officer)
Marie E. Connolly

/s/ Joseph F. Tower, III* Assistant Treasurer (Principal 10/5/98
- -------------------------- Financial and Accounting Officer)
Joseph F. Tower, III

/s/ Joseph S. DiMartino* Chairman of the Board 10/5/98
- --------------------------
Joseph S. DiMartino

/s/ Gordon J. Davis* Director 10/5/98
- --------------------------
Gordon J. Davis

/s/ David P. Feldman* Director 10/5/98
- --------------------------
David P. Feldman

/s/ Lynn Martin* Director 10/5/98
- --------------------------
Lynn Martin

/s/ Daniel Rose* Director 10/5/98
- --------------------------
Daniel Rose

/s/ Philip L. Toia* Director 10/5/98
- --------------------------
Philip L. Toia

/s/ Sander Vanocur* Director 10/5/98
- --------------------------
Sander Vanocur

/s/ Anne Wexler* Director 10/5/98
- --------------------------
Anne Wexler

/s/ Rex Wilder* Director 10/5/98
- --------------------------
Rex Wilder

*BY: /s/ Michael S. Petrucelli
---------------------
Michael S. Petrucelli
Attorney-in-Fact

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.

Post-Effective Amendment No. 18 to

Registration Statement on Form N-1A under

the Securities Act of 1933 and

the Investment Company Act of 1940

Index of Exhibits
-----------------

INDEX TO EXHIBITS

PAGE

(4)(a) Management Agreement, as revised.............................

(4)(c) Sub-Investment Advisory Agreement between The Dreyfus
Corporation and Newton Capital Management Limited.......

(5)(a) Distribution Agreement, as revised...........................

(8) Shareholder Services Plan, as revised........................

(13) Distribution Plan, as revised................................

(15) Rule 18f-3 Plan, as revised..................................

EXHIBIT 4(a)

MANAGEMENT AGREEMENT

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.
200 Park Avenue
New York, New York 10166

August 24, 1994
As Amended, January 12, 1998

The Dreyfus Corporation
200 Park Avenue
New York, New York 10166

Dear Sirs:

The above-named investment company (the "Fund") consisting of the
series named on Schedule 1 hereto, as such Schedule may be revised from time to
time (each, a "Series"), herewith confirms its agreement with you as follows:

The Fund desires to employ its capital by investing and reinvesting
the same in investments of the type and in accordance with the limitations
specified in its charter documents and in its Prospectus and Statement of
Additional Information as from time to time in effect, copies of which have been
or will be submitted to you, and in such manner and to such extent as from time
to time may be approved by the Fund's Board. The Fund desires to employ you to
act as the Fund's investment adviser.

In this connection it is understood that from time to time you will
employ or associate with yourself such person or persons as you may believe to
be particularly fitted to assist you in the performance of this Agreement. Such
person or persons may be officers or employees who are employed by both you and
the Fund. The compensation of such person or persons shall be paid by you and no
obligation may be incurred on the Fund's behalf in any such respect. We have
discussed and concur in your employing on this basis the indicated sub-advisers
(the "Sub-Investment Advisers") named on Schedule 1 hereto to act as the Fund's
sub- investment adviser with respect to the Series indicated on Schedule 1
hereto (the "Sub-Advised Series") to provide day-to- day management of the
Sub-Advised Series' investments.

Subject to the supervision and approval of the Fund's Board, you will
provide investment management of each Series' portfolio in accordance with such
Series' investment objectives and policies as stated in its Prospectus and
Statement of Additional Information as from time to time in effect. In
connection therewith, you will obtain and provide investment research and will
supervise each Series' investments and conduct, or with respect to the
Sub-Advised Series, supervise, a continuous program of investment, evaluation
and, if appropriate, sale and reinvestment of such Series' assets. You will
furnish to the Fund such statistical information, with respect to the
investments which a Series may hold or contemplate purchasing, as the Fund may
reasonably request. The Fund wishes to be informed of important developments
materially affecting any Series' portfolio and shall expect you, on your own
initiative, to furnish to the Fund from time to time such information as you may
believe appropriate for this purpose.

In addition, you will supply office facilities (which may be in your
own offices), data processing services, clerical, accounting and bookkeeping
services, internal auditing and legal services, internal executive and
administrative services, and stationery and office supplies; prepare reports to
each Series' stockholders, tax returns, reports to and filings with the
Securities and Exchange Commission and state Blue Sky authorities; calculate the
net asset value of each Series' shares; and generally assist in all aspects of
the Fund's operations. You shall have the right, at your expense, to engage
other entities to assist you in performing some or all of the obligations set
forth in this paragraph, provided each such entity enters into an agreement with
you in form and substance reasonably satisfactory to the Fund. You agree to be
liable for the acts or omissions of each such entity to the same extent as if
you had acted or failed to act under the circumstances.

You shall exercise your best judgment in rendering the services to be
provided to the Fund hereunder and the Fund agrees as an inducement to your
undertaking the same that neither you nor a Sub-Investment Adviser shall be
liable hereunder for any error of judgment or mistake of law or for any loss
suffered by one or more Series, provided that nothing herein shall be deemed to
protect or purport to protect you or the Sub-Investment Adviser against any
liability to the Fund or a Series or to its security holders to which you would
otherwise be subject by reason of willful misfeasance, bad faith or gross
negligence in the performance of your duties hereunder, or by reason of your
reckless disregard of your obligations and duties hereunder, or to which the
Sub-Investment Adviser would otherwise be subject by reason of willful
misfeasance, bad faith or gross negligence in the performance of its duties
under its Sub-Investment Advisory Agreement with you or by reason of its
reckless disregard of its obligations and duties under said Agreement.

In consideration of services rendered pursuant to this Agreement, the
Fund will pay you on the first business day of each month a fee at the rate set
forth opposite each Series' name on Schedule 1 hereto. Net asset value shall be
computed on such days and at such time or times as described in the Fund's then-
current Prospectus and Statement of Additional Information. The fee for the
period from the date of the commencement of the public sale of a Series' shares
to the end of the month during which such sale shall have been commenced shall
be pro-rated according to the proportion which such period bears to the full
monthly period, and upon any termination of this Agreement before the end of any
month, the fee for such part of a month shall be pro-rated according to the
proportion which such period bears to the full monthly period and shall be
payable upon the date of termination of this Agreement.

For the purpose of determining fees payable to you, the value of each
Series' net assets shall be computed in the manner specified in the Fund's
charter documents for the computation of the value of each Series' net assets.

You will bear all expenses in connection with the performance of your
services under this Agreement and will pay all fees of each Sub-Investment
Adviser in connection with its duties in respect of the Fund. All other expenses
to be incurred in the operation of the Fund (other than those borne by any Sub-
Investment Adviser) will be borne by the Fund, except to the extent specifically
assumed by you. The expenses to be borne by the Fund include, without
limitation, the following: organizational costs, taxes, interest, loan
commitment fees, interest and distributions paid on securities sold short,
brokerage fees and commissions, if any, fees of Board members who are not your
officers, directors or employees or holders of 5% or more of your outstanding
voting securities or those of any Sub- Investment Adviser or any affiliate of
you or any Sub-Investment Adviser, Securities and Exchange Commission fees and
state Blue Sky qualification fees, advisory fees, charges of custodians,
transfer and dividend disbursing agents' fees, certain insurance premiums,
industry association fees, outside auditing and legal expenses, costs of
independent pricing services, costs of maintaining the Fund's existence, costs
attributable to investor services (including, without limitation, telephone and
personnel expenses), costs of preparing and printing prospectuses and statements
of additional information for regulatory purposes and for distribution to
existing stockholders, costs of stockholders' reports and meetings, and any
extraordinary expenses.

As to each Series, if in any fiscal year the aggregate expenses of
such Series (including fees pursuant to this Agree ment, but excluding interest,
taxes, brokerage and, with the prior written consent of the necessary state
securities commissions, extraordinary expenses) exceed the expense limitation of
any state having jurisdiction over such Series, the Fund may deduct from the
fees to be paid hereunder, or you will bear, such excess expense to the extent
required by state law. Your obligation pursuant hereto will be limited to the
amount of your fees hereunder. Such deduction or payment, if any, will be
estimated daily, and reconciled and effected or paid, as the case may be, on a
monthly basis.

The Fund understands that you and each Sub-Investment Adviser now act,
and that from time to time hereafter you or a Sub-Investment Adviser may act, as
investment adviser to one or more other investment companies and fiduciary or
other managed accounts, and the Fund has no objection to your and the Sub-
Investment Adviser's so acting, provided that when the purchase or sale of
securities of the same issuer is suitable for the investment objectives of two
or more companies or accounts managed by you which have available funds for
investment, the available securities will be allocated in a manner believed by
you to be equitable to each company or account. It is recognized that in some
cases this procedure may adversely affect the price paid or received by one or
more Series or the size of the position obtainable for or disposed of by one or
more Series.

In addition, it is understood that the persons employed by you to
assist in the performance of your duties hereunder will not devote their full
time to such service and nothing contained herein shall be deemed to limit or
restrict your right or the right of any of your affiliates to engage in and
devote time and attention to other businesses or to render services of whatever
kind or nature.

Neither you nor a Sub-Investment Adviser shall be liable for any error
of judgment or mistake of law or for any loss suffered by the Fund in connection
with the matters to which this Agreement relates, except, in the case of you,
for a loss resulting from willful misfeasance, bad faith or gross negligence on
your part in the performance of your duties or from reckless disregard by you of
your obligations and duties under this Agreement and, in the case of a
Sub-Investment Adviser, for a loss resulting from willful misfeasance, bad faith
or gross negligence on its part in the performance of its duties or from
reckless disregard by it of its obligations and duties under its Sub-Investment
Advisory Agreement with you. Any person, even though also your officer,
director, partner, employee or agent, who may be or become an officer, Board
member, employee or agent of the Fund, shall be deemed, when rendering services
to the Fund or acting on any business of the Fund, to be rendering such services
to or acting solely for the Fund and not as your officer, director, partner,
employee or agent or one under your control or direction even though paid by
you.

As to each Series, this Agreement shall continue until the date set
forth opposite such Series' name on Schedule 1 hereto (the "Reapproval Date")
and thereafter shall continue automatically for successive annual periods ending
on the day of each year set forth opposite the Series' name on Schedule 1 hereto
(the "Reapproval Day"), provided such continuance is specifically approved at
least annually by (i) the Fund's Board or (ii) vote of a majority (as defined in
the Investment Company Act of 1940) of such Series' outstanding voting
securities, provided that in either event its continuance also is approved by a
majority of the Fund's Board members who are not "interested persons" (as
defined in said Act) of any party to this Agreement, by vote cast in person at a
meeting called for the purpose of voting on such approval. As to each Series,
this Agreement is terminable without penalty, on 60 days' notice, by the Fund's
Board or by vote of holders of a majority of such Series' shares or, upon not
less than 90 days' notice, by you. This Agreement also will terminate
automatically, as to the relevant Series, in the event of its assignment (as
defined in said Act).

The Fund recognizes that from time to time your directors, officers
and employees may serve as directors, trustees, partners, officers and employees
of other corporations, business trusts, partnerships or other entities
(including other investment companies) and that such other entities may include
the name "Dreyfus" as part of their name, and that your corporation or its
affiliates may enter into investment advisory or other agreements with such
other entities. If you cease to act as the Fund's investment adviser, the Fund
agrees that, at your request, the Fund will take all necessary action to change
the name of the Fund to a name not including "Dreyfus" in any form or
combination of words.

The Fund is agreeing to the provisions of this Agreement that limit a
Sub-Investment Adviser's liability and other provisions relating to a
Sub-Investment Adviser so as to induce the Sub-Investment Adviser to enter into
its Sub- Investment Advisory Agreement with you and to perform its obligations.
Each Sub-Investment Adviser is expressly made a third party beneficiary of this
Agreement with rights as respects the Sub-Advised Series to the same extent as
if it had been a party hereto.

If the foregoing is in accordance with your understanding, will you
kindly so indicate by signing and returning to us the enclosed copy hereof.

Very truly yours,

DREYFUS PREMIER INTERNATIONAL
FUNDS, INC.

By:______________________________

Accepted:

THE DREYFUS CORPORATION

By:_______________________________
<PAGE>
SCHEDULE 1

ANNUAL FEE AS
A PERCENTAGE
OF AVERAGE
NAME OF SERIES DAILY NET ASSETS REAPPROVAL DATE REAPPROVAL DAY

Dreyfus Premier ----% September 11, 2000 September 11th
European Equity
Fund1

Dreyfus Premier 1.00% September 11, 1999 September 11th
Global Allocation
Fund

Dreyfus Premier 1.25% September 11, 1999 September 11th
Greater China
Fund2

Dreyfus Premier 0.75% September 11, 1999 September 11th
International
Growth Fund

Revised: October 20, 1998

- --------
1 The Dreyfus Corporation has employed Newton Capital Management Limited to
act as sub-investment adviser to this Series.
2 The Dreyfus Corporation has employed Hamon U.S. Investment Advisors Limited
to act as sub-investment adviser to this Series.

EXHIBIT 4(c)

SUB-INVESTMENT ADVISORY AGREEMENT

THE DREYFUS CORPORATION
200 Park Avenue
New York, New York 10166

October 20, 1998

Newton Capital Management Limited
71 Queen Victoria Street
London, ECV 4DR.

Dear Sirs:

As you are aware, Dreyfus Premier International Funds, Inc. (the
"Fund") desires to employ the capital of its Dreyfus Premier European Equity
Fund (the "Series") by investing and reinvesting the same in investments of the
type and in accordance with the limitations specified in the Fund's charter
documents and in the Series' Prospectus and Statement of Additional Information
as from time to time in effect, copies of which have been or will be submitted
to you, and in such manner and to such extent as from time to time may be
approved by the Fund's Board. The Fund intends to employ The Dreyfus Corporation
(the "Adviser") to act as its investment adviser pursuant to a written agreement
(the "Management Agreement"), a copy of which has been furnished to you. The
Adviser desires to employ you to act as the Series' sub-investment adviser.

In connection with your serving as sub-investment adviser to the
Series, it is understood that from time to time you will employ or associate
with yourself such person or persons as you may believe to be particularly
fitted to assist you in the performance of this Agreement. Such person or
persons may be officers or employees who are employed by both you and the Fund.
The compensation of such person or persons shall be paid by you and no
obligation may be incurred on the Fund's behalf in any such respect.

Subject to the supervision and approval of the Adviser, you will
provide investment management of the Series' portfolio in accordance with the
Series' investment objectives and policies as stated in its Prospectus and
Statement of Additional Information as from time to time in effect. In
connection therewith, you will supervise the Series' investments and conduct a
continuous program of investment, evaluation and, if appropriate, sale and
reinvestment of the Series' assets. You will furnish to the Adviser or the Fund
such statistical information, with respect to the investments which the Series
may hold or contemplate purchasing, as the Adviser or the Fund may reasonably
request. The Fund and the Adviser wish to be informed of important developments
materially affecting the Series' portfolio and shall expect you, on your own
initiative, to furnish to the Fund or the Adviser from time to time such
information as you may believe appropriate for this purpose.

You shall exercise your best judgment in rendering the services to be
provided hereunder, and the Adviser agrees as an inducement to your undertaking
the same that you shall not be liable hereunder for any error of judgment or
mistake of law or for any loss suffered by the Series or the Adviser, provided
that nothing herein shall be deemed to protect or purport to protect you against
any liability to the Adviser, the Fund or the Series' security holders to which
you would otherwise be subject by reason of willful misfeasance, bad faith or
gross negligence in the performance of your duties hereunder, or by reason of
your reckless disregard of your obligations and duties hereunder.

In consideration of services rendered pursuant to this Agreement, the
Adviser will pay you, on the first business day of each month, out of the
management fee it receives and only to the extent thereof, a fee calculated
daily and paid monthly based on the Series' average daily net assets, for the
preceding month as follows:

Net asset value shall be computed on such days and at such time or
times as described in the Series' then-current Prospectus and Statement of
Additional Information. The fee for the period from the date following the
commencement of sales of the Series' shares (after any sales are made to the
Fund's sponsor) to the end of the month during which such sales shall have been
commenced shall be pro-rated according to the proportion which such period bears
to the full monthly period, and upon any termination of this Agreement before
the end of any month, the fee for such part of a month shall be pro-rated
according to the proportion which such period bears to the full monthly period
and shall be payable within 10 business days of date of termination of this
Agreement.

For the purpose of determining fees payable to you, the value of the
Series' net assets shall be computed in the manner specified in the Fund's
charter documents for the computation of the value of the the Series' net
assets.

You will bear all expenses in connection with the performance of your
services under this Agreement. All other expenses to be incurred in the
operation of the Series (other than those borne by the Adviser) will be borne by
the Fund, except to the extent specifically assumed by you. The expenses to be
borne by the Fund include, without limitation, the following: organizational
costs, taxes, interest, loan commitment fees, interest and distributions paid on
securities sold short, brokerage fees and commissions, if any, fees of Board
members who are not officers, directors, employees or holders of 5% or more of
the outstanding voting securities of you or the Adviser or any affiliate of you
or the Adviser, Securities and Exchange Commission fees and state Blue Sky
qualification fees, advisory fees, charges of custodians, transfer and dividend
disbursing agents' fees, certain insurance premiums, industry association fees,
outside auditing and legal expenses, costs of independent pricing services,
costs of maintaining the Fund's existence, costs attributable to investor
services (including, without limitation, telephone and personnel expenses),
costs of preparing and printing prospectuses and statements of additional
information for regulatory purposes and for distribution to existing
stockholders, costs of stockholders' reports and meetings, and any extraordinary
expenses.

The Adviser understands that you now act, and that from time to time
hereafter you may act, as investment adviser to one or more investment companies
and fiduciary or other managed accounts, and the Adviser has no objection to
your so acting, provided that when purchase or sale of securities of the same
issuer is suitable for the investment objectives of two or more companies or
accounts managed by you which have available funds for investment, the available
securities will be allocated in a manner believed by you to be equitable to each
company or account. It is recognized that in some cases this procedure may
adversely affect the price paid or received by the Series or the size of the
position obtainable for or disposed of by the Series.

In addition, it is understood that the persons employed by you to
assist in the performance of your duties hereunder will not devote their full
time to such services and nothing contained herein shall be deemed to limit or
restrict your right or the right of any of your affiliates to engage in and
devote time and attention to other businesses or to render services of whatever
kind or nature.

You shall not be liable for any error of judgment or mistake of law or
for any loss suffered by the Series or the Adviser in connection with the
matters to which this Agreement relates, except for a loss resulting from
willful misfeasance, bad faith or gross negligence on your part in the
performance of your duties or from reckless disregard by you of your obligations
and duties under this Agreement. Any person, even though also your officer,
director, partner, employee or agent, who may be or become an officer, Board
member, employee or agent of the Fund, shall be deemed, when rendering services
to the Fund or acting on any business of the Fund, to be rendering such services
to or acting solely for the Fund and not as your officer, director, partner,
employee, or agent or one under your control or direction even though paid by
you.

This Agreement shall continue until September 11, 2000, and thereafter
shall continue automatically for successive annual periods ending on September
11th of each year, provided such continuance is specifically approved at least
annually by (i) the Fund's Board or (ii) vote of a majority (as defined in the
Investment Company Act of 1940, as amended) of the Series' outstanding voting
securities, provided that in either event its continuance also is approved by a
majority of the Fund's Board members who are not "interested persons" (as
defined in said Act) of any party to this Agreement, by vote cast in person at a
meeting called for the purpose of voting on such approval. This Agreement is
terminable without penalty (i) by the Adviser upon 60 days' notice to you, (ii)
by the Fund's Board or by vote of the holders of a majority of the Series'
shares upon 60 days' notice to you, or (iii) by you upon not less than 90 days'
notice to the Fund and the Adviser. This Agreement also will terminate
automatically in the event of its assignment (as defined in said Act). In
addition, notwithstanding anything herein to the contrary, if the Management
Agreement terminates for any reason, this Agreement shall terminate effective
upon the date the Management Agreement terminates.

If the foregoing is in accordance with your understanding, will you
kindly so indicate by signing and returning to us the enclosed copy hereof.

Very truly yours,

THE DREYFUS CORPORATION

By:_________________________

Accepted:

NEWTON CAPITAL MANAGEMENT LIMITED

By:______________________________

EXHIBIT 5(a)

DISTRIBUTION AGREEMENT

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.
200 Park Avenue
New York, New York 10166

August 24, 1994
As Revised, January 12, 1998

Premier Mutual Fund Services, Inc.
60 State Street
Boston, Massachusetts 02109

Dear Sirs:

This is to confirm that, in consideration of the agreements
hereinafter contained, the above-named investment company (the "Fund") has
agreed that you shall be, for the period of this agreement, the distributor of
(a) shares of each Series of the Fund set forth on Exhibit A hereto, as such
Exhibit may be revised from time to time (each, a "Series") or (b) if no Series
are set forth on such Exhibit, shares of the Fund. For purposes of this
agreement the term "Shares" shall mean the authorized shares of the relevant
Series, if any, and otherwise shall mean the Fund's authorized shares.

1. Services as Distributor

1.1 You will act as agent for the distribution of Shares covered by,
and in accordance with, the registration statement and prospectus then in effect
under the Securities Act of 1933, as amended, and will transmit promptly any
orders received by you for purchase or redemption of Shares to the Transfer and
Dividend Disbursing Agent for the Fund of which the Fund has notified you in
writing.

1.2 You agree to use your best efforts to solicit orders for the sale
of Shares. It is contemplated that you will enter into sales or servicing
agreements with securities dealers, financial institutions and other industry
professionals, such as investment advisers, accountants and estate planning
firms, and in so doing you will act only on your own behalf as principal.

1.3 You shall act as distributor of Shares in compliance with all
applicable laws, rules and regulations, including, without limitation, all rules
and regulations made or adopted pursuant to the Investment Company Act of 1940,
as amended, by the Securities and Exchange Commission or any securities
association registered under the Securities Exchange Act of 1934, as amended.

1.4 Whenever in their judgment such action is warranted by market,
economic or political conditions, or by abnormal circumstances of any kind, the
Fund's officers may decline to accept any orders for, or make any sales of, any
Shares until such time as they deem it advisable to accept such orders and to
make such sales and the Fund shall advise you promptly of such determination.

1.5 The Fund agrees to pay all costs and expenses in connection with
the registration of Shares under the Securities Act of 1933, as amended, and all
expenses in connection with maintaining facilities for the issue and transfer of
Shares and for supplying information, prices and other data to be furnished by
the Fund hereunder, and all expenses in connection with the preparation and
printing of the Fund's prospectuses and statements of additional information for
regulatory purposes and for distribution to shareholders; provided, however,
that nothing contained herein shall be deemed to require the Fund to pay any of
the costs of advertising the sale of Shares.

1.6 The Fund agrees to execute any and all documents and to furnish
any and all information and otherwise to take all actions which may be
reasonably necessary in the discretion of the Fund's officers in connection with
the qualification of Shares for sale in such states as you may designate to the
Fund and the Fund may approve, and the Fund agrees to pay all expenses which may
be incurred in connection with such qualification. You shall pay all expenses
connected with your own qualification as a dealer under state or Federal laws
and, except as otherwise specifically provided in this agreement, all other
expenses incurred by you in connection with the sale of Shares as contemplated
in this agreement.

1.7 The Fund shall furnish you from time to time, for use in
connection with the sale of Shares, such information with respect to the Fund or
any relevant Series and the Shares as you may reasonably request, all of which
shall be signed by one or more of the Fund's duly authorized officers; and the
Fund warrants that the statements contained in any such information, when so
signed by the Fund's officers, shall be true and correct. The Fund also shall
furnish you upon request with: (a) semi-annual reports and annual audited
reports of the Fund's books and accounts made by independent public accountants
regularly retained by the Fund, (b) quarterly earnings statements prepared by
the Fund, (c) a monthly itemized list of the securities in the Fund's or, if
applicable, each Series' portfolio, (d) monthly balance sheets as soon as
practicable after the end of each month, and (e) from time to time such
additional information regarding the Fund's financial condition as you may
reasonably request.

1.8 The Fund represents to you that all registration statements and
prospectuses filed by the Fund with the Securities and Exchange Commission under
the Securities Act of 1933, as amended, and under the Investment Company Act of
1940, as amended, with respect to the Shares have been carefully prepared in
conformity with the requirements of said Acts and rules and regulations of the
Securities and Exchange Commission thereunder. As used in this agreement the
terms "registration statement" and "prospectus" shall mean any registration
statement and prospectus, including the statement of additional information
incorporated by reference therein, filed with the Securities and Exchange
Commission and any amendments and supplements thereto which at any time shall
have been filed with said Commission. The Fund represents and warrants to you
that any registration statement and prospectus, when such registration statement
becomes effective, will contain all statements required to be stated therein in
conformity with said Acts and the rules and regulations of said Commission; that
all statements of fact contained in any such registration statement and
prospectus will be true and correct when such registration statement becomes
effective; and that neither any registration statement nor any prospectus when
such registration statement becomes effective will include an untrue statement
of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading. The Fund may
but shall not be obligated to propose from time to time such amendment or
amendments to any registration statement and such supplement or supplements to
any prospectus as, in the light of future developments, may, in the opinion of
the Fund's counsel, be necessary or advisable. If the Fund shall not propose
such amendment or amendments and/or supplement or supplements within fifteen
days after receipt by the Fund of a written request from you to do so, you may,
at your option, terminate this agreement or decline to make offers of the Fund's
securities until such amendments are made. The Fund shall not file any amendment
to any registration statement or supplement to any prospectus without giving you
reasonable notice thereof in advance; provided, however, that nothing contained
in this agreement shall in any way limit the Fund's right to file at any time
such amendments to any registration statement and/or supplements to any
prospectus, of whatever character, as the Fund may deem advisable, such right
being in all respects absolute and unconditional.

1.9 The Fund authorizes you to use any prospectus in the form
furnished to you from time to time, in connection with the sale of Shares. The
Fund agrees to indemnify, defend and hold you, your several officers and
directors, and any person who controls you within the meaning of Section 15 of
the Securities Act of 1933, as amended, free and harmless from and against any
and all claims, demands, liabilities and expenses (including the cost of
investigating or defending such claims, demands or liabilities and any counsel
fees incurred in connection therewith) which you, your officers and directors,
or any such controlling person, may incur under the Securities Act of 1933, as
amended, or under common law or otherwise, arising out of or based upon any
untrue statement, or alleged untrue statement, of a material fact contained in
any registration statement or any prospectus or arising out of or based upon any
omission, or alleged omission, to state a material fact required to be stated in
either any registration statement or any prospectus or necessary to make the
statements in either thereof not misleading; provided, however, that the Fund's
agreement to indemnify you, your officers or directors, and any such controlling
person shall not be deemed to cover any claims, demands, liabilities or expenses
arising out of any untrue statement or alleged untrue statement or omission or
alleged omission made in any registration statement or prospectus in reliance
upon and in conformity with written information furnished to the Fund by you
specifically for use in the preparation thereof. The Fund's agreement to
indemnify you, your officers and directors, and any such controlling person, as
aforesaid, is expressly conditioned upon the Fund's being notified of any action
brought against you, your officers or directors, or any such controlling person,
such notification to be given by letter or by telegram addressed to the Fund at
its address set forth above within ten days after the summons or other first
legal process shall have been served. The failure so to notify the Fund of any
such action shall not relieve the Fund from any liability which the Fund may
have to the person against whom such action is brought by reason of any such
untrue, or alleged untrue, statement or omission, or alleged omission, otherwise
than on account of the Fund's indemnity agreement contained in this paragraph
1.9. The Fund will be entitled to assume the defense of any suit brought to
enforce any such claim, demand or liability, but, in such case, such defense
shall be conducted by counsel of good standing chosen by the Fund and approved
by you. In the event the Fund elects to assume the defense of any such suit and
retain counsel of good standing approved by you, the defendant or defendants in
such suit shall bear the fees and expenses of any additional counsel retained by
any of them; but in case the Fund does not elect to assume the defense of any
such suit, or in case you do not approve of counsel chosen by the Fund, the Fund
will reimburse you, your officers and directors, or the controlling person or
persons named as defendant or defendants in such suit, for the fees and expenses
of any counsel retained by you or them. The Fund's indemnification agreement
contained in this paragraph 1.9 and the Fund's representations and warranties in
this agreement shall remain operative and in full force and effect regardless of
any investigation made by or on behalf of you, your officers and directors, or
any controlling person, and shall survive the delivery of any Shares. This
agreement of indemnity will inure exclusively to your benefit, to the benefit of
your several officers and directors, and their respective estates, and to the
benefit of any controlling persons and their successors. The Fund agrees
promptly to notify you of the commencement of any litigation or proceedings
against the Fund or any of its officers or Board members in connection with the
issue and sale of Shares.

1.10 You agree to indemnify, defend and hold the Fund, its several
officers and Board members, and any person who controls the Fund within the
meaning of Section 15 of the Securities Act of 1933, as amended, free and
harmless from and against any and all claims, demands, liabilities and expenses
(including the cost of investigating or defending such claims, demands or
liabilities and any counsel fees incurred in connection therewith) which the
Fund, its officers or Board members, or any such controlling person, may incur
under the Securities Act of 1933, as amended, or under common law or otherwise,
but only to the extent that such liability or expense incurred by the Fund, its
officers or Board members, or such controlling person resulting from such claims
or demands, shall arise out of or be based upon any untrue, or alleged untrue,
statement of a material fact contained in information furnished in writing by
you to the Fund specifically for use in the Fund's registration statement and
used in the answers to any of the items of the registration statement or in the
corresponding statements made in the prospectus, or shall arise out of or be
based upon any omission, or alleged omission, to state a material fact in
connection with such information furnished in writing by you to the Fund and
required to be stated in such answers or necessary to make such information not
misleading. Your agreement to indemnify the Fund, its officers and Board
members, and any such controlling person, as aforesaid, is expressly conditioned
upon your being notified of any action brought against the Fund, its officers or
Board members, or any such controlling person, such notification to be given by
letter or telegram addressed to you at your address set forth above within ten
days after the summons or other first legal process shall have been served. You
shall have the right to control the defense of such action, with counsel of your
own choosing, satisfactory to the Fund, if such action is based solely upon such
alleged misstatement or omission on your part, and in any other event the Fund,
its officers or Board members, or such controlling person shall each have the
right to participate in the defense or preparation of the defense of any such
action. The failure so to notify you of any such action shall not relieve you
from any liability which you may have to the Fund, its officers or Board
members, or to such controlling person by reason of any such untrue, or alleged
untrue, statement or omission, or alleged omission, otherwise than on account of
your indemnity agreement contained in this paragraph 1.10. This agreement of
indemnity will inure exclusively to the Fund's benefit, to the benefit of the
Fund's officers and Board members, and their respective estates, and to the
benefit of any controlling persons and their successors. You agree promptly to
notify the Fund of the commencement of any litigation or proceedings against you
or any of your officers or directors in connection with the issue and sale of
Shares.

1.11 No Shares shall be offered by either you or the Fund under any of
the provisions of this agreement and no orders for the purchase or sale of such
Shares hereunder shall be accepted by the Fund if and so long as the
effectiveness of the registration statement then in effect or any necessary
amendments thereto shall be suspended under any of the provisions of the
Securities Act of 1933, as amended, or if and so long as a current prospectus as
required by Section 10 of said Act, as amended, is not on file with the
Securities and Exchange Commission; provided, however, that nothing contained in
this paragraph 1.11 shall in any way restrict or have an application to or
bearing upon the Fund's obligation to repurchase any Shares from any shareholder
in accordance with the provisions of the Fund's prospectus or charter documents.

1.12 The Fund agrees to advise you immediately in writing:

(a) of any request by the Securities and Exchange Commission for
amendments to the registration statement or prospectus then in effect
or for additional information;

(b) in the event of the issuance by the Securities and Exchange
Commission of any stop order suspending the effectiveness of the
registration statement or prospectus then in effect or the initiation
of any proceeding for that purpose;

(c) of the happening of any event which makes untrue any
statement of a material fact made in the registration statement or
prospectus then in effect or which requires the making of a change in
such registration statement or prospectus in order to make the
statements therein not misleading; and

(d) of all actions of the Securities and Exchange Commission with
respect to any amendments to any registration statement or prospectus
which may from time to time be filed with the Securities and Exchange
Commission.

2. Offering Price

Shares of any class of the Fund offered for sale by you shall be
offered for sale at a price per share (the "offering price") approximately equal
to (a) their net asset value (determined in the manner set forth in the Fund's
charter documents) plus (b) a sales charge, if any and except to those persons
set forth in the then-current prospectus, which shall be the percentage of the
offering price of such Shares as set forth in the Fund's then-current
prospectus. The offering price, if not an exact multiple of one cent, shall be
adjusted to the nearest cent. In addition, Shares of any class of the Fund
offered for sale by you may be subject to a contingent deferred sales charge as
set forth in the Fund's then-current prospectus. You shall be entitled to
receive any sales charge or contingent deferred sales charge in respect of the
Shares. Any payments to dealers shall be governed by a separate agreement
between you and such dealer and the Fund's then-current prospectus.

3. Term

This agreement shall continue until the date (the "Reapproval Date")
set forth on Exhibit A hereto (and, if the Fund has Series, a separate
Reapproval Date shall be specified on Exhibit A for each Series), and thereafter
shall continue automatically for successive annual periods ending on the day
(the "Reapproval Day") of each year set forth on Exhibit A hereto, provided such
continuance is specifically approved at least annually by (i) the Fund's Board
or (ii) vote of a majority (as defined in the Investment Company Act of 1940) of
the Shares of the Fund or the relevant Series, as the case may be, provided that
in either event its continuance also is approved by a majority of the Board
members who are not "interested persons" (as defined in said Act) of any party
to this agreement, by vote cast in person at a meeting called for the purpose of
voting on such approval. This agreement is terminable without penalty, on 60
days' notice, by vote of holders of a majority of the Fund's or, as to any
relevant Series, such Series' outstanding voting securities or by the Fund's
Board as to the Fund or the relevant Series, as the case may be. This agreement
is terminable by you, upon 270 days' notice, effective on or after the fifth
anniversary of the date hereof. This agreement also will terminate
automatically, as to the Fund or relevant Series, as the case may be, in the
event of its assignment (as defined in said Act).

4. Exclusivity

So long as you act as the distributor of Shares, you shall not perform
any services for any entity other than investment companies advised or
administered by The Dreyfus Corporation. The Fund acknowledges that the persons
employed by you to assist in the performance of your duties under this agreement
may not devote their full time to such service and nothing contained in this
agreement shall be deemed to limit or restrict your or any of your affiliates
right to engage in and devote time and attention to other businesses or to
render services of whatever kind or nature.

Please confirm that the foregoing is in accordance with your
understanding and indicate your acceptance hereof by signing below, whereupon it
shall become a binding agreement between us.

Very truly yours,

DREYFUS PREMIER INTERNATIONAL
FUNDS, INC.

By:________________________

Accepted:

PREMIER MUTUAL FUND SERVICES, INC.

By:_______________________________
<PAGE>
EXHIBIT A

NAME OF SERIES REAPPROVAL DATE REAPPROVAL DAY

Dreyfus Premier September 11, 2000 September 11th
European Equity Fund

Dreyfus Premier September 11, 1999 September 11th
Global Allocation Fund

Dreyfus Premier September 11, 1999 September 11th
Greater China Fund

Dreyfus Premier September 11, 1999 September 11th
International Growth Fund

Revised: October 20, 1998

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.

SHAREHOLDER SERVICES PLAN

INTRODUCTION: It has been proposed that the above-captioned investment
company (the "Fund") adopt a Shareholder Services Plan under which the Fund
would pay the Fund's distributor (the "Distributor") for providing services to
shareholders of each series of the Fund and class of Fund shares set forth on
Exhibit A hereto, as such Exhibit may be revised from time to time (each, a
"Class"). The Distributor would be permitted to pay certain financial
institutions, securities dealers and other industry professionals (collectively,
"Service Agents") in respect of these services. The Plan is not to be adopted
pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended (the
"Act"), and the fee under the Plan is intended to be a "service fee" as defined
under the Conduct Rules of the National Association of Securities Dealers, Inc.

The Fund's Board, in considering whether the Fund should implement a
written plan, has requested and evaluated such information as it deemed
necessary to an informed determination as to whether a written plan should be
implemented and has considered such pertinent factors as it deemed necessary to
form the basis for a decision to use Fund assets attributable to each Class for
such purposes.

In voting to approve the implementation of such a plan, the Board has
concluded, in the exercise of its reasonable business judgment and in light of
applicable fiduciary duties, that there is a reasonable likelihood that the plan
set forth below will benefit the Fund and shareholders of each Class.

THE PLAN: The material aspects of this Plan are as follows:

1. The Fund shall pay to the Distributor a fee at the annual rate set
forth on Exhibit A in respect of the provision of personal services to
shareholders and/or the maintenance of shareholder accounts. The Distributor
shall determine the amounts to be paid to Service Agents and the basis on which
such payments will be made. Payments to a Service Agent are subject to
compliance by the Service Agent with the terms of any related Plan agreement
between the Service Agent and the Distributor.

2. For the purpose of determining the fees payable under this Plan,
the value of the Fund's net assets attributable to each Class shall be computed
in the manner specified in the Fund's charter documents for the computation of
net asset value.

3. The Board shall be provided, at least quarterly, with a written
report of all amounts expended pursuant to this Plan. The report shall state the
purpose for which the amounts were expended.

4. As to each Class, this Plan will become effective immediately upon
approval by a majority of the Board members, including a majority of the Board
members who are not "interested persons" (as defined in the Act) of the Fund and
have no direct or indirect financial interest in the operation of this Plan or
in any agreements entered into in connection with this Plan, pursuant to a vote
cast in person at a meeting called for the purpose of voting on the approval of
this Plan.

5. As to each Class, this Plan shall continue for a period of one year
from its effective date, unless earlier terminated in accordance with its terms,
and thereafter shall continue automatically for successive annual periods,
provided such continuance is approved at least annually in the manner provided
in paragraph 4 hereof.

6. As to each Class, this Plan may be amended at any time by the
Board, provided that any material amendments of the terms of this Plan shall
become effective only upon approval as provided in paragraph 4 hereof.

7. As to each Class, this Plan is terminable without penalty at any
time by vote of a majority of the Board members who are not "interested persons"
(as defined in the Act) of the Fund and have no direct or indirect financial
interest in the operation of this Plan or in any agreements entered into in
connection with this Plan.

Dated: November 9, 1992
<PAGE>
EXHIBIT A

FEE AS A PERCENTAGE OF
NAME OF SERIES OR CLASS AVERAGE DAILY NET ASSETS

Dreyfus Premier European Equity Fund
Class A .25 of 1%
Class B .25 of 1%
Class C .25 of 1%

Dreyfus Premier Global Allocation Fund
Class A .25 of 1%
Class B .25 of 1%
Class C .25 of 1%
Class T .25 of 1%

Dreyfus Premier Greater China Fund
Class A .25 of 1%
Class B .25 of 1%
Class C .25 of 1%

Dreyfus Premier International Growth Fund
Class A .25 of 1%
Class B .25 of 1%
Class C .25 of 1%

Revised: October 20, 1998

Exhibit 13

DREYFUS PREMIER INTERNATIONAL FUNDS, INC.

DISTRIBUTION PLAN

INTRODUCTION: It has been proposed that the above-captioned investment
company (the "Fund") adopt a Distribution Plan (the "Plan") in accordance with
Rule 12b-1, promulgated under the Investment Company Act of 1940, as amended
(the "Act"). The Plan would pertain to each series of the Fund and class of Fund
shares set forth on Exhibit A hereto, as such Exhibit may be revised from time
to time (each, a "Class"). Under the Plan, the Fund would pay the Fund's
distributor (the "Distributor") for distributing shares of each Class. If this
proposal is to be implemented, the Act and said Rule 12b-1 require that a
written plan describing all material aspects of the proposed financing be
adopted by the Fund.

The Fund's Board, in considering whether the Fund should implement a
written plan, has requested and evaluated such information as it deemed
necessary to an informed determination as to whether a written plan should be
implemented and has considered such pertinent factors as it deemed necessary to
form the basis for a decision to use assets attributable to each Class for such
purposes.

In voting to approve the implementation of such a plan, the Board
members have concluded, in the exercise of their reasonable business judgment
and in light of their respective fiduciary duties, that there is a reasonable
likelihood that the plan set forth below will benefit the Fund and shareholders
of each Class.

THE PLAN: The material aspects of this Plan are as follows:

1. The Fund shall pay to the Distributor for distribution a fee in
respect of each Class at the annual rate set forth on Exhibit A.

2. For the purposes of determining the fees payable under this Plan,
the value of the Fund's net assets attributable to each Class shall be computed
in the manner specified in the Fund's charter documents as then in effect for
the computation of the value of the Fund's net assets attributable to such
Class.

3. The Fund's Board shall be provided, at least quarterly, with a
written report of all amounts expended pursuant to this Plan. The report shall
state the purpose for which the amounts were expended.

4. As to each Class, this Plan will become effective upon approval by
(a) holders of a majority of the outstanding shares of such Class, and (b) a
majority of the Board members, including a majority of the Board members who are
not "interested persons" (as defined in the Act) of the Fund and have no direct
or indirect financial interest in the operation of this Plan or in any
agreements entered into in connection with this Plan, pursuant to a vote cast in
person at a meeting called for the purpose of voting on the approval of this
Plan.

6. As to each Class, this Plan may be amended at any time by the
Fund's Board, provided that (a) any amendment to increase materially the costs
which such Class may bear pursuant to this Plan shall be effective only upon
approval by a vote of the holders of a majority of the outstanding shares of
such Class, and (b) any material amendments of the terms of this Plan shall
become effective only upon approval as provided in paragraph 4(b) hereof.

7. As to each Class, this Plan is terminable without penalty at any
time by (a) vote of a majority of the Board members who are not "interested
persons" (as defined in the Act) of the Fund and have no direct or indirect
financial interest in the operation of this Plan or in any agreements entered
into in connection with this Plan, or (b) vote of the holders of a majority of
the outstanding shares of such Class.

Dated: May 31, 1994
<PAGE>
EXHIBIT A

FEE AS A PERCENTAGE OF
NAME OF SERIES AND CLASS AVERAGE DAILY NET ASSETS

Dreyfus Premier European Equity Fund
Class B .75 of 1%
Class C .75 of 1%

Dreyfus Premier Global Allocation Fund
Class B .75 of 1%
Class C .75 of 1%
Class T .25 of 1%

Dreyfus Premier Greater China Fund
Class B .75 of 1%
Class C .75 of 1%

Dreyfus Premier International Growth Fund
Class B .75 of 1%
Class C .75 of 1%

Revised: October 20, 1998

Exhibit 15
THE DREYFUS FAMILY OF FUNDS
(DREYFUS PREMIER FAMILY OF EQUITY FUNDS)

RULE 18F-3 PLAN

Rule 18f-3 under the Investment Company Act of 1940, as amended (the
"1940 Act"), requires that the Board of an investment company desiring to offer
multiple classes pursuant to said Rule adopt a plan setting forth the separate
arrangement and expense allocation of each class, and any related conversion
features or exchange privileges.

The Board, including a majority of the non-interested Board members,
of each of the investment companies, or series thereof, listed on Schedule A
attached hereto (each, a "Fund") which desires to offer multiple classes has
determined that the following plan is in the best interests of each class
individually and each Fund as a whole:

1. CLASS DESIGNATION: Fund shares shall be divided into Class A, Class
B, Class C, Class R and, with respect to Dreyfus Premier Global Allocation Fund
only, Class T.

2. DIFFERENCES IN SERVICES: The services offered to shareholders of
each Class shall be substantially the same, except that Right of Accumulation
and Letter of Intent shall be available only to holders of Class A shares and,
with respect to Dreyfus Premier Global Allocation Fund only, Class T shares.

3. DIFFERENCES IN DISTRIBUTION ARRANGEMENTS: Class A shares shall be
offered with a front-end sales charge, as such term is defined under the Conduct
Rules of the National Association of Securities Dealers, Inc., and a deferred
sales charge (a "CDSC"), as such term is defined under said Conduct Rules may be
assessed on certain redemptions of Class A shares purchased without an initial
sales charge as part of an investment of $1 million or more. The amount of the
sales charge and the amount of and provisions relating to the CDSC pertaining to
the Class A shares are set forth on Schedule B hereto.

Class B shares shall not be subject to a front-end sales charge, but
shall be subject to a CDSC and shall be charged an annual distribution fee under
a Distribution Plan adopted pursuant to Rule 12b-1 under the 1940 Act. The
amount of and provisions relating to the CDSC, and the amount of the fees under
the Distribution Plan pertaining to the Class B shares, are set forth on
Schedule C hereto.

Class C shares shall not be subject to a front-end sales charge, but
shall be subject to a CDSC and shall be charged an annual distribution fee under
a Distribution Plan adopted pursuant to Rule 12b-1 under the 1940 Act. The
amount of and provisions relating to the CDSC, and the amount of the fees under
the Distribution Plan pertaining to the Class C shares, are set forth on
Schedule D hereto.

Class R shares shall be offered at net asset value only to
institutional investors acting for themselves or in a fiduciary, advisory,
agency, custodial or similar capacity for qualified or non-qualified employee
benefit plans, including pension, profit-sharing, SEP-IRAs and other deferred
compensation plans, whether established by corporations, partnerships, non-
profit entities or state and local governments, but not including IRAs or IRA
"Rollover Accounts."

With respect to Dreyfus Premier Global Allocation Fund only, Class T
shares shall be offered with a front-end sales charge, and a CDSC may be
assessed on certain redemptions of Class T shares purchased without an initial
sales charge as part of an investment of $1 million or more. Class T shares also
shall be charged an annual distribution fee under a Distribution Plan adopted
pursuant to Rule 12b-1 under the 1940 Act. The amount of the sales charge, the
amount of and provisions relating to the CDSC, and the amount of fees under the
Distribution Plan pertaining to the Class T shares are set forth on Schedule E
hereto.

Class A, Class B, Class C and, with respect to Dreyfus Premier Global
Allocation Fund only, Class T shares shall be subject to an annual service fee
at the rate of .25% of the value of the average daily net assets of such Class
pursuant to a Shareholder Services Plan.

4. EXPENSE ALLOCATION: The following expenses shall be allocated, to
the extent practicable, on a Class-by-Class basis: (a) fees under the
Distribution Plan and Shareholder Services Plan; (b) printing and postage
expenses related to preparing and distributing materials, such as shareholder
reports, prospectuses and proxies, to current shareholders of a specific Class;
(c) Securities and Exchange Commission and Blue Sky registration fees incurred
by a specific Class; (d) the expense of administrative personnel and services as
required to support the shareholders of a specific Class; (e) litigation or
other legal expenses relating solely to a specific Class; (f) transfer agent
fees identified by the Fund's transfer agent as being attributable to a specific
Class; and (g) Board members' fees incurred as a result of issues relating to a
specific Class.

5. CONVERSION FEATURES: Class B shares shall automatically convert to
Class A shares after a specified period of time after the date of purchase,
based on the relative net asset value of each such Class without the imposition
of any sales charge, fee or other charge, as set forth on Schedule F hereto. No
other Class shall be subject to any automatic conversion feature.

6. EXCHANGE PRIVILEGES: Shares of a Class shall be exchangeable only
for (a) shares of the same Class (or Class A in the case of Class T) of other
investment companies managed or administered by The Dreyfus Corporation and (b)
shares of certain other investment companies specified from time to time.
<PAGE>
SCHEDULE A

NAME OF FUND DATE PLAN ADOPTED

Dreyfus Premier Equity Funds, Inc. September 11, 1995
(Revised as of June 8, 1998)
- --Dreyfus Premier Aggressive Growth Fund
- --Dreyfus Premier Growth and Income Fund
- --Dreyfus Premier Emerging Markets Fund
- --Dreyfus Premier Market Neutral Fund

Dreyfus Premier International Funds, Inc. April 24, 1995
(Revised as of October 20, 1998)
- --Dreyfus Premier European Equity Fund
- --Dreyfus Premier Global Allocation Fund
- --Dreyfus Premier Greater China Fund
- --Dreyfus Premier International Growth Fund

Dreyfus Premier Worldwide Growth April 12, 1995
Fund, Inc. (Revised as of December 1, 1996)

Dreyfus Premier Value Fund July 19, 1995
(Revised as of December 1, 1996)
<PAGE>
SCHEDULE B

FRONT-END SALES CHARGE--CLASS A SHARES--Effective December 1, 1996, the public
offering price for Class A shares, except as set forth below, shall be the net
asset value per share of Class A plus a sales load as shown below:

FRONT-END SALES CHARGE--CLASS A SHARES--SHAREHOLDERS BENEFICIALLY OWNING CLASS A
SHARES ON NOVEMBER 30, 1996--For shareholders who beneficially owned Class A
shares of a Fund on November 30, 1996, the public offering price for Class A
shares of such Fund, except as set forth below with respect to certain
shareholders of Dreyfus Premier Aggressive Growth Fund, shall be the net asset
value per share of Class A plus a sales load as shown below:

<TABLE>
<CAPTION>
Total Sales Load
-----------------------------------------------------------
As a % of As a % of
offering net asset
AMOUNT OF TRANSACTION price per value per
share share
------------------------ -------------------------
<S> <C> <C>
Less than $50,000............................................... 4.50 4.70
$50,000 to less than $100,000................................... 4.00 4.20
$100,000 to less than $250,000.................................. 3.00 3.10
$250,000 to less than $500,000.................................. 2.50 2.60
$500,000 to less than $1,000,000................................ 2.00 2.00
$1,000,000 or more.............................................. -0- -0-
</TABLE>
<PAGE>
FRONT-END SALES CHARGE--CLASS A SHARES OF DREYFUS PREMIER AGGRESSIVE GROWTH FUND
ONLY--SHAREHOLDERS BENEFICIALLY OWNING CLASS A SHARES ON DECEMBER 31, 1995*--For
shareholders who beneficially owned Class A shares of Dreyfus Premier Aggressive
Growth Fund on December 31, 1995, the public offering price for Class A shares
of Dreyfus Premier Aggressive Growth Fund shall be the net asset value per share
of Class A plus a sales load as shown below:

CONTINGENT DEFERRED SALES CHARGE--CLASS A SHARES--A CDSC of 1.00% shall be
assessed at the time of redemption of Class A shares purchased without an
initial sales charge as part of an investment of at least $1,000,000 and
redeemed within one year of purchase. The terms contained in Schedule C
pertaining to the CDSC assessed on redemptions of Class B shares (other than the
amount of the CDSC and its time periods), including the provisions for waiving
the CDSC, shall be applicable to the Class A shares subject to a CDSC. Letter of
Intent and Right of Accumulation shall apply to such purchases of Class A
shares.

- -------------------------

* At a meeting held on December 16, 1996, shareholders of Premier Strategic
Growth Fund voted to merge such Fund into Premier Aggressive Growth Fund.
Shareholders of Dreyfus Premier Strategic Growth Fund who received Class A
shares of Dreyfus Premier Aggressive Growth Fund in the merger are deemed
to have beneficially owned such shares as of the date they beneficially
owned Class A shares of Premier Strategic Growth Fund for purposes of the
front-end sales charge applicable to purchases of Class A shares of Dreyfus
Premier Aggressive Growth Fund.
<PAGE>
SCHEDULE C

CONTINGENT DEFERRED SALES CHARGE--CLASS B SHARES--A CDSC payable to the Fund's
Distributor shall be imposed on any redemption of Class B shares which reduces
the current net asset value of such Class B shares to an amount which is lower
than the dollar amount of all payments by the redeeming shareholder for the
purchase of Class B shares of the Fund held by such shareholder at the time of
redemption. No CDSC shall be imposed to the extent that the net asset value of
the Class B shares redeemed does not exceed (i) the current net asset value of
Class B shares acquired through reinvestment of dividends or capital gain
distributions, plus (ii) increases in the net asset value of the shareholder's
Class B shares above the dollar amount of all payments for the purchase of Class
B shares of the Fund held by such shareholder at the time of redemption.

If the aggregate value of the Class B shares redeemed has declined
below their original cost as a result of the Fund's performance, a CDSC may be
applied to the then-current net asset value rather than the purchase price.

In circumstances where the CDSC is imposed, the amount of the charge
shall depend on the number of years from the time the shareholder purchased the
Class B shares until the time of redemption of such shares. Solely for purposes
of determining the number of years from the time of any payment for the purchase
of Class B shares, all payments during a month shall be aggregated and deemed to
have been made on the first day of the month. The following table sets forth the
rates of the CDSC:

CDSC AS A % OF
YEAR SINCE AMOUNT INVESTED
PURCHASE PAYMENT OR REDEMPTION
WAS MADE PROCEEDS
First................................................ 4.00
Second............................................... 4.00
Third................................................ 3.00
Fourth............................................... 3.00
Fifth................................................ 2.00
Sixth................................................ 1.00

In determining whether a CDSC is applicable to a redemption, the
calculation shall be made in a manner that results in the lowest possible rate.
Therefore, it shall be assumed that the redemption is made first of amounts
representing shares acquired pursuant to the reinvestment of dividends and
distributions; then of amounts representing the increase in net asset value of
Class B shares above the total amount of payments for the purchase of Class B
shares made during the preceding six years; then of amounts representing the
cost of shares purchased six years prior to the redemption; and finally, of
amounts representing the cost of shares held for the longest period of time
within the applicable six-year period.

WAIVER OF CDSC--The CDSC shall be waived in connection with (a) redemptions made
within one year after the death or disability, as defined in Section 72(m)(7) of
the Internal Revenue Code of 1986, as amended (the "Code"), of the shareholder,
(b) redemptions by employees participating in qualified or non-qualified
employee benefit plans or other programs where (i) the employers or affiliated
employers maintaining such plans or programs have a minimum of 250 employees
eligible for participation in such plans or programs, or (ii) such plan's or
program's aggregate investment in the Dreyfus Family of Funds or certain other
products made available by the Fund's Distributor exceeds one million dollars,
(c) redemptions as a result of a combination of any investment company with the
Fund by merger, acquisition of assets or otherwise, (d) a distribution following
retirement under a tax-deferred retirement plan or upon attaining age 70-1/2 in
the case of an IRA or Keogh plan or custodial account pursuant to Section 403(b)
of the Code, and (e) redemptions pursuant to any systematic withdrawal plan as
described in the Fund's prospectus. Any Fund shares subject to a CDSC which were
purchased prior to the termination of such waiver shall have the CDSC waived as
provided in the Fund's prospectus at the time of the purchase of such shares.

AMOUNT OF DISTRIBUTION PLAN FEES--CLASS B SHARES--.75 of 1% of the value of the
average daily net assets of Class B.
<PAGE>
SCHEDULE D

CONTINGENT DEFERRED SALES CHARGE--CLASS C SHARES--A CDSC of 1.00% payable to the
Fund's Distributor shall be imposed on any redemption of Class C shares within
one year of the date of purchase. The basis for calculating the payment of any
such CDSC shall be the method used in calculating the CDSC for Class B shares.
In addition, the provisions for waiving the CDSC shall be those set forth for
Class B shares.

AMOUNT OF DISTRIBUTION PLAN FEES--CLASS C SHARES--.75 of 1% of the value of the
average daily net assets of Class C.
<PAGE>
SCHEDULE E

FRONT-END SALES CHARGE--CLASS T SHARES OF DREYFUS PREMIER GLOBAL ALLOCATION
FUND--The public offering price for Class T shares of Dreyfus Premier Global
Allocation Fund shall be the net asset value per share of Class T plus a sales
load as shown below:

<TABLE>
<CAPTION>
Total Sales Load
-----------------------------------------------------------
As a % of As a % of
Offering Net Asset
AMOUNT OF TRANSACTION Price Per Value Per
Share Share
------------------------ -------------------------
<S> <C> <C>
Less than $50,000............................................... 4.50 4.70
$50,000 to less than $100,000................................... 4.00 4.20
$100,000 to less than $250,000.................................. 3.00 3.10
$250,000 to less than $500,000.................................. 2.00 2.00
$500,000 to less than $1,000,000................................ 1.50 1.50
$1,000,000 or more.............................................. -0- -0-
</TABLE>

CONTINGENT DEFERRED SALES CHARGE--CLASS T SHARES OF DREYFUS PREMIER GLOBAL
ALLOCATION FUND--A CDSC of 1.00% shall be assessed at the time of redemption of
Class T shares of Dreyfus Premier Global Allocation Fund purchased without an
initial sales charge as part of an investment of at least $1,000,000 and
redeemed within one year of purchase. The terms contained in Schedule C
pertaining to the CDSC assessed on redemptions of Class B shares (other than the
amount of the CDSC and its time periods), including the provisions for waiving
the CDSC, shall be applicable to the Class T shares subject to a CDSC. Letter of
Intent and Right of Accumulation shall apply to purchases of Class T shares
subject to a CDSC.

AMOUNT OF DISTRIBUTION PLAN FEES--CLASS T SHARES OF DREYFUS PREMIER GLOBAL
ALLOCATION FUND--.25 of 1% of the value of the average daily net assets of Class
T.
<PAGE>
SCHEDULE F

CONVERSION OF CLASS B SHARES--Approximately six years after the date of
purchase, Class B shares automatically shall convert to Class A shares, based on
the relative net asset values for shares of each such Class, and shall no longer
be subject to the distribution fee. At that time, Class B shares that have been
acquired through the reinvestment of dividends and distributions ("Dividend
Shares") shall be converted in the proportion that a shareholder's Class B
shares (other than Dividend Shares) converting to Class A shares bears to the
total Class B shares then held by the shareholder which were not acquired
through the reinvestment of dividends and distributions.