August 24, 1994
DREYFUS BALANCED FUND, INC.
SUPPLEMENT TO PROSPECTUS DATED NOVEMBER 15, 1993
THE FOLLOWING ANTICIPATED CHANGES HAVE OCCURRED:
I. CONSUMMATION OF THE MERGER
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE FUND'S PROSPECTUS.
On this date, the previously announced merger between The Dreyfus
Corporation ("Dreyfus") and a subsidiary of Mellon Bank Corporation
("Mellon") was completed, and as a result, Dreyfus now is a wholly-owned
subsidiary of Mellon Bank, N.A. instead of a publicly-owned corporation.
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. Mellon's principal wholly-owned
subsidiaries are Mellon Bank, N.A., Mellon Bank (DE) National Association,
Mellon Bank (MD), The Boston Company, Inc., AFCO Credit Corporation and a
number of companies known as Mellon Financial Services Corporations. Through
its subsidiaries, Mellon managed more than $130 billion in assets as of July
31, 1994, including approximately $6 billion in mutual fund assets. As of
June 30, 1994, various subsidiaries of Mellon provided non-investment
services, such as custodial or administration services, for approximately
$747 billion in assets, including approximately $97 billion in mutual fund
assets.
II. NEW DISTRIBUTOR
THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES ANY CONTRARY
INFORMATION CONTAINED IN THE FUND'S PROSPECTUS AND SPECIFICALLY IN THE
SECTION ENTITLED "HOW TO BUY FUND SHARES."
The Fund's distributor is Premier Mutual Fund Services, Inc. (the
"Distributor"), located at One Exchange Place, Boston, Massachusetts 02109.
The Distributor is a wholly-owned subsidiary of Institutional Administration
Services, Inc., a provider of mutual fund administration services, the parent
company of which is Boston Institutional Group, Inc.
Accordingly, references in the Prospectus to Dreyfus Service
Corporation as the Fund's distributor should be substituted with Premier
Mutual Fund Services, Inc.
III.RESULTS OF FUND SHAREHOLDER VOTE
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE FUND'S PROSPECTUS.
On August 2, 1994, the Fund's shareholders voted to approve a new
investment advisory agreement with Dreyfus, which became effective upon
consummation of the merger between Dreyfus and a subsidiary of Mellon.
(CONTINUED ON REVERSE SIDE)
IV. OTHER MATTERS
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES INFORMATION
CONTAINED IN THE SECTION IN THE FUND'S PROSPECTUS ENTITLED "REDEMPTION OF
FUND SHARES--REDEMPTION BY WIRE OR TELEPHONE" AND DESCRIBES A NEW TELEPHONE
REDEMPTION PRIVILEGE.
WIRE REDEMPTION PRIVILEGE. An investor may request by wire or telephone that
redemption proceeds (minimum $1,000) be wired to the investor's account at a
bank which is a member of the Federal Reserve System, or a correspondent bank
if the investor's bank is not a member. An investor may direct that redemption
proceeds be paid by check (maximum $150,000 per day)made out to the owners of
record and mailed to the investor's address. Redemption proceeds of less than
$1,000 will be paid automatically by check. Holders of jointly registered Fund
or bank accounts may have redemption proceeds of only up to $250,000 wired
within any 30-day period. The Fund reserves the right to refuse any redemption
request, including requests made shortly after a change in address, and may
limit the amount involved or the number of such requests.
TELEPHONE REDEMPTION PRIVILEGE. An investor may redeem Fund shares (maximum
$150,000 per day) by telephone if the investor has checked the appropriate
box on the Fund's Account Application or has filed a Shareholder Services
Form with the Transfer Agent. The redemption proceeds will be paid by check
and mailed to the investor's address. An investor may telephone redemption
instructions by calling 1-800-221-4060 or, if you are calling from overseas,
call 1-401-455-3306. The Fund reserves the right to refuse any request made
by telephone, including requests made shortly after a change of address, and
may limit the amount involved or the number of telephone redemption requests.
This Privilege may be modified or terminated at any time by the Transfer
Agent or the Fund. Shares held under Keogh Plans, IRAs or other retirement
plans, and shares for which the certificates have been issued, are not
eligible for this Privilege.
222/stkr082494
