DREYFUS INSTITUTIONAL SHORT TERM TREASURY FUND, 497, 1999-09-13

DREYFUS INSTITUTIONAL SHORT TERM TREASURY FUND
497, 1999-09-13

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                                                             September 13, 1999

                DREYFUS INSTITUTIONAL SHORT TERM TREASURY FUND

             SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION

                            DATED FEBRUARY 1, 1999

                AS PREVIOUSLY SUPPLEMENTED ON FEBRUARY 1, 1999

      The  following  replaces the third and fourth sentences of the fourth full
paragraph  of  the  section  of  the  Fund's Statement of Additional Information
enttitled: "Management Arrangements."

As of August 12, 1999, each Fund's portfolio managers are: Messrs. Michael
Hoeh, Roger King, John Koerber, and Gerald Thunelius.

                                                                    721s0999sai