June 11, 1999
Dreyfus Growth and Value Funds, Inc.
Supplement to Statement of Additional Information
Dated April 15, 1999
The fee that the Distributor may pay to dealers, as described in
the second paragraph in the section of the Fund's Statement of Additional
Information entitled "Management Arrangements -- Distributor," generally
will not exceed 1% (rather than .50%) of the amount invested through such
dealers. The Distributor may pay dealers a higher fee and reserves the
right to cease paying these fees at any time.
