November 13, 1996
DREYFUS LARGE COMPANY
GROWTH FUND
SUPPLEMENT TO PROSPECTUS
DATED MARCH 1, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY
INFORMATION CONTAINED UNDER "HOW TO REDEEM SHARES" IN THE FUND'S PROSPECTUS:
Shares purchased on or after February 3, 1997 will be subject to a
redemption fee equal to 1.00% of the net asset value of Fund shares redeemed
(including redemptions through the use of the Fund Exchanges service) less
than fifteen days following the issuance of such shares. The fee will be
retained by the Fund and used primarily to offset the transaction costs that
short-term trading imposes on the Fund and its shareholders. No redemption
fee will be charged on shares redeemed through the Fund's Automatic Withdrawal
Plan or Dreyfus Auto-Exchange Privilege, or from omnibus accounts.
Furthermore, no redemption fee will be charged upon the redemption of Fund
shares acquired through reinvestment of dividends or distributions. The
redemption fee may be waived, modified or discontinued at any time, or from
time to time.
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.
250s111396
November 13, 1996
DREYFUS LARGE COMPANY
VALUE FUND
SUPPLEMENT TO PROSPECTUS
DATED MARCH 1, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY
INFORMATION CONTAINED UNDER "HOW TO REDEEM SHARES" IN THE FUND'S PROSPECTUS:
Shares purchased on or after February 3, 1997 will be subject to a
redemption fee equal to 1.00% of the net asset value of Fund shares redeemed
(including redemptions through the use of the Fund Exchanges service) less
than fifteen days following the issuance of such shares. The fee will be
retained by the Fund and used primarily to offset the transaction costs that
short-term trading imposes on the Fund and its shareholders. No redemption
fee will be charged on shares redeemed through the Fund's Automatic Withdrawal
Plan or Dreyfus Auto-Exchange Privilege, or from omnibus accounts.
Furthermore, no redemption fee will be charged upon the redemption of Fund
shares acquired through reinvestment of dividends or distributions. The
redemption fee may be waived, modified or discontinued at any time, or from
time to time.
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.
251s111396
November 13, 1996
DREYFUS SMALL COMPANY VALUE FUND
SUPPLEMENT TO PROSPECTUS
DATED MARCH 1, 1996
AS REVISED, MAY 23,1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY
INFORMATION CONTAINED UNDER "HOW TO REDEEM SHARES" IN THE FUND'S PROSPECTUS:
Shares purchased on or after February 3, 1997 will be subject to a
redemption fee equal to 1.00% of the net asset value of Fund shares redeemed
(including redemptions through the use of the Fund Exchanges service) less
than fifteen days following the issuance of such shares. The fee will be
retained by the Fund and used primarily to offset the transaction costs that
short-term trading imposes on the Fund and its shareholders. No redemption
fee will be charged on shares redeemed through the Fund's Automatic Withdrawal
Plan or Dreyfus Auto-Exchange Privilege, or from omnibus accounts.
Furthermore, no redemption fee will be charged upon the redemption of Fund
shares acquired through reinvestment of dividends or distributions. The
redemption fee may be waived, modified or discontinued at any time, or from
time to time.
253s111396
November 13, 1996
DREYFUS INTERNATIONAL VALUE FUND
SUPPLEMENT TO PROSPECTUS
DATED APRIL 10, 1996
AS REVISED, MAY 23,1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY
INFORMATION CONTAINED UNDER "HOW TO REDEEM SHARES" IN THE FUND'S PROSPECTUS:
Shares purchased on or after February 3, 1997 will be subject to a
redemption fee equal to 1.00% of the net asset value of Fund shares redeemed
(including redemptions through the use of the Fund Exchanges service) less
than fifteen days following the issuance of such shares. The fee will be
retained by the Fund and used primarily to offset the transaction costs that
short-term trading imposes on the Fund and its shareholders. No redemption
fee will be charged on shares redeemed through the Fund's Automatic Withdrawal
Plan or Dreyfus Auto-Exchange Privilege, or from omnibus accounts.
Furthermore, no redemption fee will be charged upon the redemption of Fund
shares acquired through reinvestment of dividends or distributions. The
redemption fee may be waived, modified or discontinued at any time, or from
time to time.
254s111396
November 13, 1996
DREYFUS AGGRESSIVE GROWTH FUND
SUPPLEMENT TO PROSPECTUS
DATED APRIL 10, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY
INFORMATION CONTAINED UNDER "HOW TO REDEEM SHARES" IN THE FUND'S PROSPECTUS:
Shares purchased on or after February 3, 1997 will be subject to a
redemption fee equal to 1.00% of the net asset value of Fund shares redeemed
(including redemptions through the use of the Fund Exchanges service) less
than fifteen days following the issuance of such shares. The fee will be
retained by the Fund and used primarily to offset the transaction costs that
short-term trading imposes on the Fund and its shareholders. No redemption
fee will be charged on shares redeemed through the Fund's Automatic Withdrawal
Plan or Dreyfus Auto-Exchange Privilege, or from omnibus accounts.
Furthermore, no redemption fee will be charged upon the redemption of Fund
shares acquired through reinvestment of dividends or distributions. The
redemption fee may be waived, modified or discontinued at any time, or from
time to time.
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.
256s111396
November 13, 1996
DREYFUS AGGRESSIVE VALUE FUND
SUPPLEMENT TO PROSPECTUS
DATED APRIL 10, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY
INFORMATION CONTAINED UNDER "HOW TO REDEEM SHARES" IN THE FUND'S PROSPECTUS:
Shares purchased on or after February 3, 1997 will be subject to a
redemption fee equal to 1.00% of the net asset value of Fund shares redeemed
(including redemptions through the use of the Fund Exchanges service) less
than fifteen days following the issuance of such shares. The fee will be
retained by the Fund and used primarily to offset the transaction costs that
short-term trading imposes on the Fund and its shareholders. No redemption
fee will be charged on shares redeemed through the Fund's Automatic Withdrawal
Plan or Dreyfus Auto-Exchange Privilege, or from omnibus accounts.
Furthermore, no redemption fee will be charged upon the redemption of Fund
shares acquired through reinvestment of dividends or distributions. The
redemption fee may be waived, modified or discontinued at any time, or from
time to time.
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.
257s111396
November 13, 1996
DREYFUS MIDCAP VALUE FUND
SUPPLEMENT TO PROSPECTUS
DATED APRIL 10, 1996
AS REVISED, MAY 23,1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY
INFORMATION CONTAINED UNDER "HOW TO REDEEM SHARES" IN THE FUND'S PROSPECTUS:
Shares purchased on or after February 3, 1997 will be subject to a
redemption fee equal to 1.00% of the net asset value of Fund shares redeemed
(including redemptions through the use of the Fund Exchanges service) less
than fifteen days following the issuance of such shares. The fee will be
retained by the Fund and used primarily to offset the transaction costs that
short-term trading imposes on the Fund and its shareholders. No redemption
fee will be charged on shares redeemed through the Fund's Automatic Withdrawal
Plan or Dreyfus Auto-Exchange Privilege, or from omnibus accounts.
Furthermore, no redemption fee will be charged upon the redemption of Fund
shares acquired through reinvestment of dividends or distributions. The
redemption fee may be waived, modified or discontinued at any time, or from
time to time.
258s111396
November 13, 1996
DREYFUS EMERGING LEADERS FUND
SUPPLEMENT TO PROSPECTUS
DATED APRIL 10, 1996
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES ANY CONTRARY
INFORMATION CONTAINED UNDER "HOW TO REDEEM SHARES" IN THE FUND'S PROSPECTUS:
Shares purchased on or after February 3, 1997 will be subject to a
redemption fee equal to 1.00% of the net asset value of Fund shares redeemed
(including redemptions through the use of the Fund Exchanges service) less
than fifteen days following the issuance of such shares. The fee will be
retained by the Fund and used primarily to offset the transaction costs that
short-term trading imposes on the Fund and its shareholders. No redemption
fee will be charged on shares redeemed through the Fund's Automatic Withdrawal
Plan or Dreyfus Auto-Exchange Privilege, or from omnibus accounts.
Furthermore, no redemption fee will be charged upon the redemption of Fund
shares acquired through reinvestment of dividends or distributions. The
redemption fee may be waived, modified or discontinued at any time, or from
time to time.
THE FOLLOWING INFORMATION SUPERSEDES AND REPLACES ANY CONTRARY
INFORMATION CONTAINED IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED
"MANAGEMENT OF THE FUND -- INVESTMENT ADVISER":
The Fund's primary portfolio managers are Hilary Woods and Paul
Kandel. Ms. Woods has been employed by The Dreyfus Corporation since 1987.
Prior to joining The Dreyfus Corporation in October 1994, Mr. Kandel served
for two years as a manager at Ark Asset Management and prior thereto, served
for four years as an Assistant Vice President at Bankers Trust Company.
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.
259s111396
