July 20, 2001

                         THE DREYFUS FUND INCORPORATED

                           SUPPLEMENT TO PROSPECTUS

                               DATED MAY 1, 2001

      Douglas  D.  Ramos,  CFA,  and  Hilary  R.  Woods  are  the fund's primary
portfolio managers, positions they have held since July 2001.  Mr. Ramos and Ms.
Woods each has served as portfolio manager for various Dreyfus Funds.  Mr. Ramos
joined  Dreyfus in July 1997.  For more than five years prior thereto, Mr. Ramos
was  employed  by  Loomis,  Sayles  & Company,  L.P.,  most recently as a senior
partner  and investment counselor.  Ms. Woods joined Dreyfus in 1987 as a senior
sector manager for the capital goods industry.

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