DREYFUS GROWTH & VALUE FUNDS INC
497, 1999-12-16
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                                                            December 20, 1999

                         DREYFUS AGGRESSIVE GROWTH FUND

                       SUPPLEMENT TO PROSPECTUS DATED JANUARY 1, 1999

KEVIN SONNETT HAS REPLACED PAUL LAROCCO AS THE FUND'S PRIMARY PORTFOLIO MANAGER.
ACCORDINGLY,  THE  "MANAGEMENT OF THE FUND" SECTION OF THE FUND'S  PROSPECTUS IS
REVISED AS FOLLOWS:

Effective  December  20,  1999,  Kevin  Sonnett,  CFA, is the primary  portfolio
manager of the fund. Mr. Sonnett has been employed by Founders Asset Management,
LLC, an affiliate of Dreyfus,  since  February 1997 as an equity analyst for the
small- and mid-cap investment team, and was promoted to senior equity analyst in
1999. In December of 1999, Mr. Sonnett also became an employee of Dreyfus.  From
1995 to February  1997,  Mr.  Sonnett was an equity  analyst  with the  Colorado
Public Employees Retirement Association.


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