November 13, 1996
DREYFUS ASSET ALLOCATION FUND, INC.
Supplement to Statement of Additional Information
Dated August 21, 1996
The following information supplements and supersedes any contrary
information contained in the section of the Fund's Statement of Additional
Information entitled "Investment Objectives and Management Policies--
Management Policies--Derivatives."
Pursuant to regulations and/or published positions of the
Securities and Exchange Commission, the 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.
