DREYFUS LIFETIME PORTFOLIOS, INC.
DREYFUS GROWTH PORTFOLIO
DREYFUS GROWTH & INCOME PORTFOLIO
DREYFUS INCOME PORTFOLIO
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1999
(AS REVISED MAY 17, 1999)
Effective December 31, 1999, the following information supersedes and
replaces the first sentence of the first paragraph contained in the section of
the Fund's Statement of Additional Information entitled "Shareholder Services --
Fund Exchanges."
You may purchase, in exchange for a Class of a Portfolio, shares of the same
Class of another Portfolio or shares of certain other funds managed or
administered by the Manager or shares of certain funds advised by Founders Asset
Management LLC ("Founders"), an affiliate of the Manager, to the extent such
shares are offered for sale in your state of residence.
Effective December 31, 1999, the following information supersedes and
replaces the first sentence of the first paragraph contained in the section of
the Fund's Statement of Additional Information entitled "Shareholder Services --
Dreyfus Auto-Exchange Privilege."
Dreyfus Auto-Exchange Privilege permits you to purchase (on a semi-monthly,
monthly, quarterly or annual basis) , in exchange for shares of a Portfolio,
shares of the same Class of another Portfolio, shares of another fund in the
Dreyfus Family of Funds or shares of certain funds advised by Founders, of which
you are a shareholder.
Effective December 31, 1999, the following information supersedes and
replaces the first sentence of the first paragraph contained in the section of
the Fund's Statement of Additional Information entitled "Shareholder Services --
Dreyfus Dividend Option."
Dreyfus Dividend Sweep allows you to invest automatically your dividends or
dividends and capital gain distributions, if any, from the Fund in shares of the
same Class of another Portfolio, shares of another fund in the Dreyfus Family of
Funds or shares of certain funds advised by Founders, of which you are a
shareholder.
