June 13, 2001

                 THE DREYFUS PREMIER THIRD CENTURY FUND, INC.

                SUPPLEMENT TO PROSPECTUS DATED OCTOBER 1, 2000

      The following information supersedes and replaces the fourth and fifth
paragraphs in the section of the fund's prospectus entitled "Management."

      Maceo K. Sloan and Larry Jones serve as the fund's primary portfolio
managers with respect to selection of portfolio securities. Mr. Sloan has held
his position with the fund since August 1994 and has been employed by NCM since
1986. Mr. Jones has been employed by NCM since June 2001. From May 1997 through
May 2001, Mr. Jones was employed at The Kenwood Group, Inc., most recently as
president and director of research. From 1992 through December 1996, he was
chief investment officer at W.R. Lazard & Company.

      Lincoln D. Carnam serves as the fund's primary portfolio manager with
respect to its areas of social concern. Mr. Carnam has held his position with
the fund since April 2001. Mr. Carnam joined Dreyfus in February 1998 as
portfolio associate for the small cap equity group. From December 1995 through
January 1998, he was a portfolio assistant at Scudder Kemper Investments for
international equity products with a focus in socially responsible portfolios.

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