July 3, 2002


                  THE DREYFUS PREMIER THIRD CENTURY FUND, INC.

                            Supplement to Prospectus
                             dated October 1, 2001


     Effective July 2, 2002,  Paul Hilton has been appointed  primary  portfolio
manager of the Fund with  respect to its areas of social  concern.  Accordingly,
the section of the Fund's Prospectus entitled  "Management" is amended by adding
the following:

     "Paul Hilton is the fund's  primary  portfolio  manager with respect to its
areas of social  concern.  Mr.  Hilton has been  employed by Dreyfus  since July
2002.  From  August 1998  through  April  2001,  he was a portfolio  manager for
Dreyfus.  Since  leaving  Dreyfus in April 2001,  Mr.  Hilton has been  employed
outside of the  mutual  fund  industry  and is  currently  pursuing a Masters of
Education degree. From April 1997 through August 1998, he was a research analyst
in the social awareness  investment program at Smith Barney Asset Management,  a
division of Travelers Group".

     The paragraph  concerning Lincoln Carnam in this section is deleted,  since
he is no longer associated with The Dreyfus Corporation ("Dreyfus").

     On May 22,  2002,  the Fund's Board of  Directors  and 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 that
day, Dreyfus assumed day-to-day portfolio management responsibility for the Fund
and Emerson Tuttle became 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.




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                                                                 July 3, 2002



                  THE DREYFUS PREMIER THIRD CENTURY FUND, INC.

               Supplement to Statement of Additional Information
                             dated October 1, 2001


     Effective July 2, 2002,  Paul Hilton has been appointed  primary  portfolio
manager of the Fund with  respect to its areas of social  concern.  Jermain Hall
has been appointed as an additional  portfolio  manager of the Fund with respect
to its areas of social concern.

     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 that day, Dreyfus assumed day-to-day  portfolio management
responsibility  for the Fund and  Emerson  Tuttle  became 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
with respect to selection of portfolio securities.