March 16, 2000

                        THE DREYFUS PREMIER THIRD CENTURY FUND, INC.
                     SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
                                   DATED AUGUST 31, 1999
                                AS REVISED, JANUARY 27, 2000


1. The following information replaces all contrary information contained in the
sections of the Statement of Additional Information ("SAI") entitled
"Description of the Fund", "Management of the Fund" and "Management
Arrangements":

      Effective March 16, 2000, Dreyfus Service Corporation ("DSC") became the
distributor to the Fund. DSC is located at 200 Park Avenue, New York, NY 10166.

2. The following information replaces the information contained in the section
of the SAI entitled "Management of the Fund - Officers of the Fund":


Stephen E. Canter,  President.  President,  Chief Operating  Officer,  and Chief
     Investment  Officer of the  Manager,  and an  officer  of other  investment
     companies  advised and  administered  by the Manager.  Mr. Canter also is a
     Director  or  an  Executive   Committee  Member  of  the  other  investment
     management  subsidiaries of Mellon Financial Corporation,  each of which is
     an affiliate of the Manager. He is 54 years old.

Mark N. Jacobs, Vice President. Vice President, Secretary and General Counsel of
     the  Manager,  and an officer of other  investment  companies  advised  and
     administered by the Manager. He is 53 years old.

Joseph Connolly, Vice President and Treasurer. Director - Mutual Fund Accounting
     of the Manager,  and an officer of other investment  companies  advised and
     administered by the Manager. He is 42 years old.

Steven F. Newman, Secretary.  Assistant Secretary and Associate General Counsel
     of the Manager,  and an officer of other investment  companies  advised and
     administered by the Manager. He is 50 years old.

Michael A.  Rosenberg,  Assistant  Secretary.  Associate  General Counsel of the
     Manager,   and  an  officer  of  other  investment  companies  advised  and
     administered by the Manager. He is 40 years old.

Jeff Prusnofsky,  Assistant Secretary. Assistant General Counsel of the Manager,
     and an officer of other  investment  companies  advised and administered by
     the Manager. He is 34 years old.

James Windels, Assistant Treasurer.  Senior Treasury Manager of the Manager, and
     an officer of other  investment  companies  advised and administered by the
     Manager. He is 41 years old.

      The address of each Fund officer is 200 Park Avenue, New York, NY 10166.


3. The clause "Pursuant to an agreement with the Distributor" hereby is deleted
in the fourth sentence of the first paragraph of the section entitled "Purchase
of Shares - Class B Shares."