PROPOSED RESOLUTIONS

RESOLVED, that it is the determination of the Fund's Board at this meeting, including a majority of its members who are non-interested Board members, that the joint insured fidelity bonds (collectively, the "Bond") written by the following respective entities in the following amounts:

insuring the Fund and the other parties named as insured parties under the Bond for covered acts or omissions of their respective officers and Board members and the officers and employees of the Fund's Investment Adviser, Distributor, Transfer Agent and/or Administrator, in accordance with the requirements of Rule 17g-1 promulgated by the Securities and Exchange Commission under Section 17(g) of the Investment Company Act of 1940, as amended, are reasonable in form and amount after having given due consideration to all relevant factors including, but not limited to, the value of the aggregate assets of the Fund to which any such covered person may have access, the type and terms of the arrangements made for the custody and safekeeping of such assets, the nature of the securities in the Fund's portfolio, the number of other parties named as insured parties under the Bond, and the nature of the business activities of such other parties; and it is further

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[as applicable] RESOLVED, that the Fund's Board, including a majority of the non-interested Board members, hereby approves the payment by the Fund of its pro-rata share, based on the assets of the respective covered funds, of the premium for coverage under the Bond, in the form and amount described above, having given due consideration to all relevant factors including, but not limited to, the number of other parties named as insured parties under the Bond, the nature of the business activities of such other parties, the amount of the Bond, the amount of the premium for the Bond, the ratable allocation of the premium among all the parties named as insureds, and the extent to which the share of the premium allocated to the Fund is less than the premium the Fund would have had to pay if it had provided and maintained a single insured bond; and it is further

RESOLVED, that each of the President, any Vice President, the Secretary and the Treasurer hereby is designated as the officer responsible for making all filings with the Securities and Exchange Commission and giving all notices on behalf of the Fund with respect to the Bond required by paragraph (g) of Rule 17g-1 promulgated by the Securities and Exchange Commission under the Investment Company Act of 1940, as amended; and it is further

RESOLVED, that the appropriate officers of the Fund be, and each hereby is, authorized to take the actions as may be required to amend the Bond to include in the coverage new funds advised, sub-advised or administered by The Dreyfus Corporation or its affiliates, as of the date each is declared effective by the Securities and Exchange Commission; and it is further

RESOLVED, that the Agreement Regarding Dreyfus Joint Insured Bond, in the form previously approved, shall remain in full force and effect; and it is further

RESOLVED, that it is the determination of the Fund's Board at this meeting, including a majority of its members who are non-interested board members, that the Fund's participation in directors and officers and errors and omissions liability insurance policies (collectively, the "Policy") written by the following respective entities in the following amounts:

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insuring the Fund, other investment companies for which The Dreyfus Corporation or an affiliate serves as investment adviser, sub-investment adviser and/or administrator (the "Funds"), The Dreyfus Corporation, certain of its affiliates, and the Board Members and officers of such insureds, against insured liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the insureds, is in the best interest of the Fund; and it is further

[as applicable] RESOLVED, that the Board members, including a majority of the non-interested Board members, hereby find that the premium for the Policy to be allocated to the Fund is fair and reasonable based upon the proportionate share of the sum of the premiums that would have been paid if such insurance coverage were purchased separately by each of the insured parties; and it is further

3

RESOLVED, that the appropriate officers of the Fund be, and each hereby is, authorized to take such actions as may be required to amend the policy to include in the coverage new funds advised, sub-advised or administered by The Dreyfus Corporation or its affiliates, as of the date each is declared effective by the Securities and Exchange Commission; and it is further

RESOLVED, that the Fund, in conjunction with other Funds, purchase Independent Directors Liability Insurance (“IDL”), insuring the Board members of the Funds against certain liabilities and expenses written by the following respective entities as co-sureties in the following amounts:

and that the Fund pay its pro-rata share, based on the assets of the respective participating Funds, of the premium for coverage under the IDL; and it is further

RESOLVED, that the appropriate officers of the Fund be and each hereby is, authorized to make any and all payments and to do any and all other acts, in the name of the Fund and on its behalf, as they, or any of them, may determine to be necessary or desirable and proper in connection with or in furtherance of the foregoing resolutions.

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AGREEMENT REGARDING
DREYFUS JOINT INSURED BOND

AGREEMENT among The Dreyfus Fund Incorporated and certain other investment companies as to which The Dreyfus Corporation or any affiliate (“Dreyfus”) now acts as Investment Adviser, Sub-Investment Adviser and/or Administrator (individually, a “Fund” and, collectively, the “Funds”) and which are registered under the Investment Company Act of 1940, as amended (the “Act”).

WITNESSETH:

WHEREAS, the Funds are covered as joint insureds under a Fidelity Bond or Bonds (the “Bond”) which complies with Rule 17g-1 promulgated by the Securities and Exchange Commission under the Act (“Rule 17g-1”); and WHEREAS, the Funds have entered into this Agreement to meet the requirements of paragraph (f) of Rule 17g-1;

NOW THEREFORE IT IS HEREBY AGREED:

1. In the event that recovery is received under the Bond as a result of a loss sustained by two or more of the Funds, each Fund shall receive an equitable and proportionate share of said recovery, but said recovery shall at least equal the amount that each such Fund would have received had the Fund provided and maintained a single insured bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1.

2. The Funds acknowledge and agree that, upon approval by the Funds’ respective Boards of Directors/Trustees, the amount of the Bond or the carriers issuing the Bond may be changed from time to time, and that any such change shall not affect the rights and obligations of the Funds under this Agreement.

3. Each Fund shall be responsible for paying its pro-rata share, based on the ratio of its assets to the assets of all of the Funds, of the premium payable in respect of the Bond. The Funds acknowledge and agree that any new Fund added to the Bond or as a party to this Agreement will not be responsible for the foregoing amount incurred prior to the first Bond renewal following the addition of such Fund.

4. The Funds agree that any registered investment company for which Dreyfus in the future becomes the Investment Advisor, Sub-Investment Advisor and/or Administrator added as a joint insured under the Bond may become a party to this Agreement upon the execution of a copy of this Agreement by its duly authorized officer and shall thereafter be deemed a “Fund” hereunder.

5. This Agreement shall cease to apply to any Fund in respect of any loss that occurs after such Fund (i) ceases to be an investment company by order of the Securities and Exchange Commission pursuant to Section 8(f) of the Act, or (ii) ceases to be advised, sub-advised and/or administered by Dreyfus, and such Fund shall, at and after such time, cease to be a party to this Agreement for all purposes.

6. This Agreement shall be binding upon and shall inure to the benefit of any successor company of any of the undersigned, or any company into which any of the undersigned may be merged or with which it may be consolidated.

7. As to each Fund that is organized as a trust, this Agreement has been executed on behalf of the Fund by the undersigned officer of the Fund in his capacity as an officer of the Fund; the obligations of this Agreement shall only be binding upon the assets and property of the Fund and shall not be binding upon any Board member, officer or shareholder of the Fund individually.

IN WITNESS WHEREOF, the Funds have caused this Agreement to be executed by their respective officers, thereunto duly authorized as of the day and year written below.

	Dated as of January 31, 2007
/s/ Joni Lacks Charatan
Joni Lacks Charatan
Vice President of:

Advantage Funds, Inc. 

Dreyfus Emerging Leaders Fund 

Dreyfus Midcap Value Fund 

Dreyfus Small Company Value Fund 

Dreyfus Premier Future Leaders Fund 

Dreyfus Premier Midcap Value Fund 

Dreyfus Premier International Value Fund

Dreyfus Premier Select Midcap Growth Fund

Dreyfus Premier Small Company Growth Fund 

Dreyfus Premier Strategic Value Fund 

Dreyfus Premier Structured Large Cap Value Fund 

Dreyfus Premier Structured Midcap Fund

Dreyfus Premier Technology Growth Fund

Dreyfus Premier Total Return Advantage Fund 

Global Alpha Fund 

CitizensSelect Funds 

CitizensSelect Prime Money Market Fund

CitizensSelect Treasury Money Market Fund

Dreyfus A Bonds Plus, Inc. 

Dreyfus Appreciation Fund, Inc. 

Dreyfus BASIC Money Market Fund, Inc. 

Dreyfus BASIC U.S. Government Money Market Fund 

Dreyfus BASIC U.S. Mortgage Securities Fund 

Dreyfus Bond Funds, Inc. 

Dreyfus Municipal Bond Fund 

Dreyfus Premier High Income Fund 

Dreyfus California Intermediate Municipal Bond Fund 

Dreyfus California Tax Exempt Money Market Fund 

Dreyfus Cash Management 

Dreyfus Cash Management Plus, Inc. 

Dreyfus Connecticut Intermediate Municipal Bond Fund 

Dreyfus Connecticut Municipal Money Market Fund, Inc. 

Dreyfus Fixed Income Securities 

Dreyfus High Yield Shares 

Dreyfus Mortgage Shares 

Dreyfus Florida Intermediate Municipal Bond Fund 

Dreyfus Florida Municipal Money Market Fund 

The Dreyfus Fund Incorporated 

Dreyfus GNMA Fund, Inc. 

Dreyfus Government Cash Management Funds 

Dreyfus Government Cash Management 

Dreyfus Government Prime Cash Management

Dreyfus Growth and Income Fund, Inc. 

Dreyfus Growth Opportunity Fund, Inc. 

Dreyfus High Yield Strategies Fund (closed-end fund) 

Dreyfus Index Funds, Inc. 

Dreyfus International Stock Index Fund 

Dreyfus S&P 500 Index Fund 

Dreyfus Smallcap Stock Index Fund 

Dreyfus Institutional Money Market Fund 

Government Securities Series 

Money Market Series 

Dreyfus Institutional Cash Advantage Funds 

Dreyfus Institutional Cash Advantage Fund 

Dreyfus Institutional Cash Advantage Plus Fund

Dreyfus Institutional Preferred Money Market Funds 

Dreyfus Institutional Preferred Money Market Fund 

Dreyfus Institutional Preferred Plus Money Market Fund 

Dreyfus Insured Municipal Bond Fund, Inc. 

Dreyfus Intermediate Municipal Bond Fund, Inc. 

Dreyfus International Funds, Inc. 

Dreyfus Premier Emerging Markets Fund 

Dreyfus Investment Grade Funds, Inc. 

Dreyfus Inflation Adjusted Securities Fund 

Dreyfus Intermediate Term Income Fund 

Dreyfus Premier Short Term Income Fund 

Dreyfus Premier Yield Advantage Fund 

Dreyfus Investment Portfolios 

Core Bond Portfolio 

Core Value Portfolio 

Emerging Leaders Portfolio 

Founders Discovery Portfolio 

Founders Growth Portfolio 

Founders International Equity Portfolio 

MidCap Stock Portfolio 

Small Cap Stock Index Portfolio 

Technology Growth Portfolio 

The Dreyfus/Laurel Funds, Inc. 

Dreyfus BASIC S&P 500 Stock Index Fund 

Dreyfus Bond Market Index Fund 

Dreyfus Disciplined Stock Fund 

Dreyfus Institutional Government Money Market Fund 

Dreyfus Institutional Prime Money Market Fund 

Dreyfus Institutional U.S. Treasury Money Market Fund

Dreyfus Money Market Reserves 

Dreyfus Municipal Reserves 

Dreyfus Premier Balanced Fund 

Dreyfus Premier Core Equity Fund 

Dreyfus Premier Large Company Stock Fund 

Dreyfus Premier Limited Term Income Fund 

Dreyfus Premier Midcap Stock Fund 

Dreyfus Premier Small Cap Value Fund 

Dreyfus Premier Strategic Income Fund 

Dreyfus Premier Tax Managed Growth Fund 

Dreyfus U.S. Treasury Reserves 

The Dreyfus/Laurel Funds Trust 

Dreyfus Premier Core Value Fund 

Dreyfus Premier Equity Income Fund 

Dreyfus Premier International Bond Fund 

Dreyfus Premier Managed Income Fund 

Dreyfus Premier Limited Term High Yield Fund 

Dreyfus Tax Managed Balanced Fund 

The Dreyfus/Laurel Tax-Free Municipal Funds 

Dreyfus BASIC California Municipal Money Market Fund 

Dreyfus BASIC Massachusetts Municipal Money Market Fund 

Dreyfus BASIC New York Municipal Money Market Fund 

Dreyfus LifeTime Portfolios, Inc. 

Growth Portfolio 

Growth & Income Portfolio 

Income Portfolio 

Dreyfus Liquid Assets, Inc. 

Dreyfus Massachusetts Intermediate Municipal Bond Fund 

Dreyfus Massachusetts Municipal Money Market Fund 

Dreyfus Midcap Index Fund, Inc. 

Dreyfus Money Market Instruments, Inc. 

Government Securities Series 

Money Market Series 

Dreyfus Municipal Cash Management Plus 

Dreyfus Municipal Funds, Inc. 

Dreyfus BASIC Municipal Money Market Fund 

Dreyfus BASIC New Jersey Municipal Money Market Fund 

Dreyfus High Yield Municipal Bond Fund 

Dreyfus Premier Select Intermediate Municipal Bond Fund 

Dreyfus Premier Select Municipal Bond Fund 

Dreyfus Municipal Income, Inc. (closed-end fund) 

Dreyfus Municipal Money Market Fund, Inc. 

Dreyfus New Jersey Intermediate Municipal Bond Fund 

Dreyfus New Jersey Municipal Money Market Fund, Inc. 

Dreyfus New York Municipal Cash Management 

Dreyfus New York Tax Exempt Bond Fund, Inc. 

Dreyfus New York Tax Exempt Intermediate Bond Fund 

Dreyfus New York Tax Exempt Money Market Fund 

Dreyfus Pennsylvania Intermediate Municipal Bond Fund 

Dreyfus Pennsylvania Municipal Money Market Fund 

Dreyfus Premier California Tax Exempt Bond Fund, Inc. 

Dreyfus Premier Equity Funds, Inc. 

Dreyfus Premier Growth and Income Fund 

Dreyfus Premier Fixed Income Funds 

Dreyfus Premier Core Bond Fund 

Dreyfus Premier GNMA Fund 

Dreyfus Premier International Funds, Inc. 

Dreyfus Premier Greater China Fund 

Dreyfus Premier International Growth Fund

Dreyfus Premier Manager Funds I 

Bear Stearns Prime Money Market Fund 

Dreyfus Premier Alpha Growth Fund 

Dreyfus Premier Intrinsic Value Fund 

Dreyfus Premier S&P STARS Fund 

Dreyfus Premier S&P STARS Opportunities Fund 

Dreyfus Premier Small Cap Equity Growth Fund 

Dreyfus Premier Manager Funds II 

Dreyfus Premier Balanced Opportunity Fund

Dreyfus Premier Blue Chip Fund 

Dreyfus Premier Select Fund 

Dreyfus Premier Municipal Bond Fund 

Dreyfus Premier New Jersey Municipal Bond Fund, Inc. 

Dreyfus Premier New York Municipal Bond Fund 

Dreyfus Premier Opportunity Funds 

Dreyfus Premier Enterprise Fund 

Dreyfus Premier Health Care Fund 

Dreyfus Premier Natural Resources Fund

Dreyfus Premier Short-Intermediate Municipal Bond Fund 

Dreyfus Premier State Municipal Bond Fund 

Connecticut Series 

Florida Series 

Maryland Series 

Massachusetts Series 

Michigan Series 

Minnesota Series 

North Carolina Series 

Ohio Series 

Pennsylvania Series 

Texas Series 

Virginia Series 

Dreyfus Premier Stock Funds 

Dreyfus Premier International Equity Fund

Dreyfus Premier International Small Cap Fund 

Dreyfus Premier Small Cap Equity Fund 

The Dreyfus Premier Third Century Fund, Inc. 

Dreyfus Premier Value Equity Funds 

Dreyfus Premier Value Fund 

Dreyfus Premier Worldwide Growth Fund, Inc. 

Dreyfus Short-Intermediate Government Fund 

The Dreyfus Socially Responsible Growth Fund, Inc. 

Dreyfus Stock Index Fund, Inc. 

Dreyfus Strategic Municipal Bond Fund, Inc. 

(closed-end fund) 

Dreyfus Strategic Municipals, Inc. 

(closed-end fund) 

Dreyfus Tax Exempt Cash Management 

Dreyfus Treasury Cash Management 

Dreyfus Treasury Prime Cash Management 

Dreyfus 100% U.S. Treasury Money Market Fund 

Dreyfus U.S. Treasury Intermediate Term Fund 

Dreyfus U.S. Treasury Long Term Fund 

Dreyfus Variable Investment Fund 

Appreciation Portfolio 

Balanced Portfolio 

Developing Leaders Portfolio 

Disciplined Stock Portfolio 

Growth and Income Portfolio 

International Equity Portfolio 

International Value Portfolio 

Limited Term High Yield Portfolio 

Money Market Portfolio 

Quality Bond Portfolio 

Small Company Stock Fund 

Special Value Portfolio 

Dreyfus Worldwide Dollar Money Market Fund, Inc. 

General California Municipal Money Market Fund 

General Government Securities Money Market Funds, Inc. 

General Government Securities Money Market Fund

General Treasury Prime Money Market Fund 

General Money Market Fund, Inc. 

General Municipal Money Market Funds, Inc. 

General Municipal Money Market Fund 

General New York Municipal Bond Fund, Inc. 

General New York Municipal Money Market Fund 

Mellon Funds Trust 

Mellon Balanced Fund 

Mellon Bond Fund 

Mellon Emerging Markets Fund 

Mellon Income Stock Fund 

Mellon Intermediate Bond Fund 

Mellon International Fund 

Mellon Large Cap Stock Fund 

Mellon Massachusetts Intermediate Municipal Bond Fund 

Mellon Money Market Fund 

Mellon Mid Cap Stock Fund 

Mellon National Intermediate Municipal Bond Fund

Mellon National Municipal Money Market Fund

Mellon National Short-Term Municipal Bond Fund

Mellon Pennsylvania Intermediate Municipal Bond Fund 

Mellon Short-Term U.S. Government Securities Fund 

Mellon Small Cap Stock Fund 

Strategic Funds, Inc. 

Dreyfus Premier New Leaders Fund 

Emerging Markets Opportunity Fund 

Global Stock Fund 

International Stock Fund 

Systematic International Equity Fund