November 1, 2001

                      DREYFUS PREMIER MUNICIPAL BOND FUND

                           SUPPLEMENT TO PROSPECTUS

                            DATED SEPTEMBER 1, 2001

      THE  FOLLOWING  INFORMATION  REPLACES  THE  INFORMATION  CONTAINED  IN THE
SECTION OF THE FUND'S PROSPECTUS ENTITLED "MANAGEMENT-PORTFOLIO MANAGER":

      Effective  November  1,  2001,  James  Welch  became  the  fund' s primary
portfolio  manager.   Mr.  Welch joined Dreyfus as a Senior Portfolio Manager in
the  Municipal  Securities  Group  in  October  2001.   For the five years prior
thereto  Mr.  Welch  was  a  Senior  Vice  President and member of the portfolio
management team at Back Bay Advisors.

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