May 3, 1996
DREYFUS LIFETIME PORTFOLIOS, INC.
SUPPLEMENT TO PROSPECTUS
DATED JANUARY 15, 1996
THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION
CONTAINED IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "MANAGEMENT OF THE
FUND-CUSTODIAN AND TRANSFER AND DIVIDEND DISBURSING AGENT."
Mellon Bank, N.A., located at One Mellon Bank Center, Pittsburgh,
Pennsylvania 15258, serves as the Fund's Custodian.
DRP/s050396
May 3, 1996
DREYFUS LIFETIME PORTFOLIOS, INC.
Supplement to Statement of Additional Information
dated January 15, 1996
The following information supersedes any contrary information
contained in the section of the Funds' Statement of Additional Information
entitled "Transfer and Dividend Disbursing Agent, Custodian, Counsel and
Independent Auditors."
Mellon Bank, N.A., One Mellon Bank Center, Pittsburgh, Pennsylvania
15258, is the Funds' Custodian.
