March 26, 1997
PREMIER INSURED MUNICIPAL BOND FUND
(CALIFORNIA SERIES)
(CONNECTICUT SERIES)
(FLORIDA SERIES)
(NEW JERSEY SERIES)
(NEW YORK SERIES)
SUPPLEMENT TO PROSPECTUS
DATED DECEMBER 2, 1996
THE FOLLOWING INFORMATION REPLACES AND SUPERSEDES ANY CONTRARY
INFORMATION CONTAINED IN THE FUND'S PROSPECTUS.
Effective March 31, 1997, the Fund's name is Dreyfus Premier Insured
Municipal Bond Fund.
At a Special Meeting of Shareholders of the California Series, the
Connecticut Series and the New Jersey Series held on March 10, 1997, and a
Special Meeting of Shareholders of the Florida Series and the New York Series
(together with the California Series, the Connecticut Series and the New
Jersey Series, the "Series"), held on March 25, 1997, shareholders of each
Series approved an Agreement and Plan of Reorganization (the "Plan"),
pursuant to which each Series will transfer all or substantially all of its
assets, subject to liabilities, in a tax free exchange for shares of
corresponding Funds advised by The Dreyfus Corporation, and the assumption by
the corresponding Funds of stated liabilities (the "Exchange"). The
corresponding Funds with respect to the Series are Premier California
Municipal Bond Fund, Premier New York Municipal Bond Fund and the Connecticut
Series, the Florida Series and the New Jersey Series of Premier State
Municipal Bond Fund. The Exchange is expected to occur on or about March 31,
1997, at which time Series shareholders will become shareholders of the
corresponding Funds and each Series will be liquidated and its existence as a
series of the Fund terminated.
In accordance with the terms set forth herein, shareholders of the
Series who purchased Class A shares subject to a front end sales load on or
after
(CONTINUED ON REVERSE SIDE)
January 1, 1996 and who choose to redeem such shares rather than
participate in the Exchange will be reimbursed upon redemption prior to the
Exchange the sales load applicable to the Class A shares in accordance with
the sales load schedule set forth on page 23 of Premier Insured Municipal
Bond Fund's current prospectus dated December 2, 1996 (the "Sales Load
Reimbursement"). Class A, Class B and Class C shares purchased subject to a
contingent deferred sales charge ("CDSC") and held by shareholders of the
Series who choose to redeem such shares rather than participate in the
Exchange will not be subject to any CDSC upon redemption prior to the
Exchange (the "CDSC Waiver").
The Sales Load Reimbursement/CDSC Waiver will be available to Class
A, Class B and Class C shareholders of the Series who redeem their shares at
any time during the period from January 24, 1997 to the later of March 31,
1997 or the consummation of the Exchange.
If you have any questions pertaining to the Exchange or the Sales
Load Reimbursement/CDSC Waiver, please contact your Service Agent.
PIMBs032697
