DREYFUS LIFETIME PORTFOLIOS INC
497, 1996-04-04
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                          FOR USE BY BANKS ONLY
                                                            April 5, 1996
                 DREYFUS LIFETIME PORTFOLIOS, INC.
                   SUPPLEMENT TO PROSPECTUS DATED
                          JANUARY 15, 1996
        All mutual fund shares involve certain investment risks, including 
the possible loss of principal.
        DRP/s040596BNK



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