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Midcap Stock Portfolio
 
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July 19, 2013


DREYFUS INVESTMENT PORTFOLIOS
- MidCap Stock Portfolio


Supplement to Summary and Statutory Prospectuses
dated May 1, 2013


IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY

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Effective on or about October 1, 2013, the following information will supplement the “Principal Investment Strategy” in the Summary prospectus and “Fund Summary –Principal Investment Strategy” and “Fund Details – Goal and Approach” sections in the prospectus:


The fund currently considers mid-cap companies to be those companies with market capitalizations that fall within the range of $400 million and $29 billion. The fund may invest up to 20% of its net assets in securities not considered to be mid-cap companies.