May 22, 2002

                 THE DREYFUS PREMIER THIRD CENTURY FUND, INC.

                           SUPPLEMENT TO PROSPECTUS
                             DATED OCTOBER 1, 2001

     On May 22, 2002, the Fund's Board of Directors and The Dreyfus Corporation
("Dreyfus"), the  Fund's  investment adviser, notified NCM Capital Management
Group, Inc. ("NCM") of the termination of the Sub-Investment Advisory Agreement
between  Dreyfus and NCM, with respect to the Fund, pursuant to the terms of the
Agreement.  Effective  immediately,  Dreyfus  has  assumed  day-to-day portfolio
management  responsibility  for  the  Fund  and Emerson Tuttle is the Fund's new
primary  portfolio  manager  with  respect to selection of portfolio securities.

     Mr.  Tuttle  has  been employed by Dreyfus since January 2002.  He also is
senior vice president and chief investment officer of Mellon Growth Advisors, an
affiliate  of  Dreyfus.   Prior  to  joining Mellon Growth Advisors in September
2001,  he  was a principal at State Street Global Advisors where he was employed
from April 1981 to September 2001.

                                                                       035s0502



                                                             May 22, 2002



                  THE DREYFUS PREMIER THIRD CENTURY FUND, INC.

                Supplement to Statement of Additional Information
                              dated October 1, 2001

     On May 22, 2002, the Fund's Board of Directors and The Dreyfus  Corporation
("Dreyfus"),  the Fund's  investment  adviser,  notified NCM Capital  Management
Group, Inc. ("NCM") of the termination of the Sub-Investment  Advisory Agreement
between Dreyfus and NCM, with respect to the Fund,  pursuant to the terms of the
Agreement.  Effective  immediately,  Dreyfus  has assumed  day-to-day  portfolio
management  responsibility  for the Fund and  Emerson  Tuttle is the  Fund's new
primary  portfolio  manager with  respect to selection of portfolio  securities.
Leigh Todd and Barry Mills have been appointed as additional  portfolio managers
of the Fund. Lincoln Carnam remains the Fund's primary  portfolio  manager with
respect to its areas of social concern.