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:

Name of Fidelity Insurer	Amount of Coverage
National Union Fire Insurance	$25,000,000
Company of Pittsburgh
Vigilant Insurance Company	$25,000,000
	in excess of
	$25,000,000
Great American Insurance Company*	$25,000,000
Fidelity & Deposit Company of Maryland*	$25,000,000
Continental Casualty Company*	$15,000,000
AXIS US Insurance Company*	$10,000,000
Total Coverage	$125,000,000
*Excess of $50 million as co-sureties

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

1

[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.

2

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

Sub-Investment Adviser or Administrator - Gross Assets at 1/31/2006 Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name

Amount of Bond

Gross Assets at

Required

Pursuant to

1/31/2006

Rule

17g-1(d)

Dreyfus

100% U.S. Treasury

Money Market Fund

$587,388,300

$900,000

Dreyfus

A Bonds Plus, Inc.

$456,258,928

$750,000

Dreyfus

Appreciation Fund, Inc.

$4,405,417,589

$2,500,000

Dreyfus

BASIC

Money Market

Fund, Inc.

$962,476,242

$1,000,000

Dreyfus

BASIC

U.S.

Government Money

Market Fund

$434,458,685

$750,000

Dreyfus

BASIC

U.S.

Mortgage

Securities

Fund

$273,767,078

$750,000

Dreyfus

California

Intermediate

Municipal Bond Fund

$228,123,670

$600,000

Dreyfus

California

Tax Exempt

Money Market Fund

$174,540,950

$600,000

Dreyfus

Cash

Management

$11,216,013,956

$2,500,000

Dreyfus

Cash

Management Plus, Inc.

$8,691,254,205

$2,500,000

Dreyfus

Connecticut

Intermediate Municipal Bond Fund

$138,298,923

$525,000

Dreyfus

Connecticut

Municipal

Money Market Fund, Inc.

$145,682,336

$525,000

Dreyfus

Florida

Intermediate

Municipal Bond Fund

$192,223,524

$600,000

Dreyfus

Florida

Municipal Money Market

Fund

$409,131,198

$750,000

Dreyfus

GNMA

Fund, Inc.

$1,010,780,450

$1,250,000

Dreyfus

Growth

and Income

Fund,

Inc.

$798,728,516

$1,000,000

Dreyfus

Growth

Opportunity Fund,

Inc.

$231,212,459

$600,000

Dreyfus

High

Yield Strategies Fund

$475,913,901

$750,000

Dreyfus

Insured

Municipal Bond Fund, Inc.

$127,560,304

$525,000

Dreyfus

Intermediate

Municipal Bond Fund, Inc.

$824,438,999

$1,000,000

Page: 1

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name									Amount of Bond
								Gross Assets at	Required	Pursuant to
								1/31/2006	Rule	17g-1(d)
Dreyfus	Liquid Assets,					Inc.		$4,752,767,364		$2,500,000
Dreyfus	Massachusetts					Intermediate Municipal Bond Fund		$80,204,554		$450,000
Dreyfus	Massachusetts					Municipal Money Market Fund		$157,329,246		$600,000
Dreyfus	MidCap		Index			Fund		$2,370,320,187		$1,700,000
Dreyfus	Municipal			Cash Management Plus				$991,921,330		$1,000,000
Dreyfus	Municipal			Income, Inc.				$298,943,117		$750,000
Dreyfus	Municipal			Money Market Fund, Inc.				$805,879,024		$1,000,000
Dreyfus	New	Jersey Intermediate Municipal Bond Fund						$183,007,901		$600,000
Dreyfus	New	Jersey Municipal Money Market Fund, Inc.						$376,126,685		$750,000
Dreyfus	New	York		Municipal Cash Management				$479,895,442		$750,000
Dreyfus	New	York		Tax		Exempt	Bond Fund, Inc.	$1,263,699,023		$1,250,000
Dreyfus	New	York		Tax		Exempt	Intermediate Bond Fund	$314,208,685		$750,000
Dreyfus	New	York		Tax		Exempt	Money Market Fund	$268,488,806		$750,000
Dreyfus	Pennsylvania				Intermediate Municipal Bond Fund			$76,828,455		$450,000
Dreyfus	Pennsylvania				Municipal Money Market Fund			$179,576,182		$600,000
Dreyfus	Premier		GNMA Fund					$137,233,820		$525,000
Dreyfus	Premier		Municipal Bond Fund					$630,677,507		$900,000
Dreyfus	Premier		New		Jersey Municipal Bond Fund, Inc.			$476,907,949		$750,000
Dreyfus	Premier		New		Leaders Fund, Inc.			$1,175,218,736		$1,250,000
Dreyfus	Premier		New		York Municipal Bond Fund			$175,964,080		$600,000
Dreyfus	Premier		Short-Intermediate Municipal Bond Fund					$214,559,566		$600,000

Page:

2

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name										Amount of Bond
									Gross Assets at	Required	Pursuant to
									1/31/2006	Rule	17g-1(d)
Dreyfus	Premier Worldwide Growth Fund, Inc.								$783,926,050		$1,000,000
Dreyfus	Short-Intermediate Government Fund								$284,869,193		$750,000
Dreyfus	Socially Responsible				Growth Fund, Inc.				$432,714,338		$750,000
Dreyfus	Stock Index Fund, Inc.								$4,233,808,607		$2,500,000
Dreyfus	Strategic		Municipal Bond			Fund, Inc.			$623,277,855		$900,000
Dreyfus	Strategic		Municipals,		Inc.				$849,640,379		$1,000,000
Dreyfus	Tax Exempt Cash Management								$3,107,011,998		$2,100,000
Dreyfus	Treasury		Cash	Management					$4,656,372,559		$2,500,000
Dreyfus	Treasury		Prime Cash		Management				$2,521,637,042		$1,900,000
Dreyfus	U.S.	Treasury		Intermediate Term			Fund		$183,326,265		$600,000
Dreyfus	U.S.	Treasury		Long Term		Fund			$84,009,979		$450,000
Dreyfus	Worldwide Dollar Money					Market	Fund, Inc.		$737,477,274		$900,000
DRYEFUS PREMIER				CALIFORNIA TAX EXEMPT				BOND	$1,294,390,189		$1,250,000
FUND,	INC.
General	California Municipal				Money Market Fund				$1,127,155,855		$1,250,000
General	Money Market Fund,				Inc.				$8,844,105,839		$2,500,000
General	New	York Municipal			Bond Fund,		Inc.		$270,171,540		$750,000
General	New	York Municipal			Money Market Fund				$560,687,636		$900,000
HIGH YIELD MUNICIPAL BOND FUND									$34,540,524		$300,000
TAX-SMART BALANCED FUND									$4,222,212		$125,000
The Dreyfus Fund Incorporated									$1,458,335,867		$1,250,000

Page: 3

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name							Amount of Bond
						Gross Assets at	Required	Pursuant to
						1/31/2006	Rule	17g-1(d)
The Dreyfus Premier			Third Century	Fund, Inc.		$390,599,599		$750,000
CitiziensSelect Funds
CitizensSelect		Prime	Money Market	Fund
CitizensSelect		Treasury Money Market Fund
				GROUP	TOTAL:	$955,064,714	$1,000,000
Dreyfus	Bond	Funds, Inc.
Dreyfus	Municipal Bond Fund
Dreyfus	Premier High Income Fund
				GROUP	TOTAL:	$2,399,715,427	$1,700,000
DREYFUS FIXED INCOME SECURITIES
Dreyfus	High Yield Shares
Dreyfus	Mortgage Shares
				GROUP	TOTAL:	$12,929,469		$200,000
Dreyfus	Government Cash Management Funds
Dreyfus	Government		Cash Management
Dreyfus	Government		Prime Cash Management Fund
				GROUP	TOTAL:	$5,818,449,136	$2,500,000
Dreyfus	Growth and Value Funds, Inc.

Page: 4

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name										Amount of Bond
									Gross Assets at	Required	Pursuant to
									1/31/2006	Rule	17g-1(d)
Dreyfus	Emerging Leaders Fund
Dreyfus	MidCap	Value		Fund
Dreyfus	Premier	Future Leaders				Fund
Dreyfus	Premier	International Value Fund
Dreyfus	Premier	Midcap Value Fund
Dreyfus	Premier	Select		Midcap Growth Fund
Dreyfus	Premier	Small		Company Growth Fund
Dreyfus	Premier	Strategic			Value	Fund
Dreyfus	Premier	Structured Mid				Cap Fund
Dreyfus	Premier	Technology Growth					Fund
Dreyfus	Small Company Value Fund
PREMIER STRUCTURED LARGE CAP VALUE								FUND
							GROUP	TOTAL:	$4,463,857,705	$2,500,000
DREFYSU INSTITUTIONAL						CASH ADVANTAGE FUNDS
Dreyfus	Institutional		Cash		Advantage		Fund
Dreyfus	Institutional		Cash		Advantage		Plus Fund
							GROUP	TOTAL:	$12,379,861,486	$2,500,000
Dreyfus	Investment		Grade Bond Funds, Inc.
Dreyfus	Inflation Adjusted Securities						Fund
Dreyfus	Intermediate		Term Income Fund

Page: 5

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name									Amount of Bond
								Gross Assets at	Required	Pursuant to
								1/31/2006	Rule	17g-1(d)
Dreyfus	Premier		Short		Term Income Fund
Dreyfus	Premier		Yield		Advantage Fund
						GROUP	TOTAL:	$1,228,058,170	$1,250,000
Dreyfus	Institutional Money					Market Fund
Government Securities
Money Market
						GROUP	TOTAL:	$470,735,378		$750,000
Dreyfus	Index Funds,				Inc.
Dreyfus	International Stock Index Fund
Dreyfus	S&P 500 Index Fund
Dreyfus	Smallcap Stock Index					Fund
						GROUP	TOTAL:	$4,582,229,915	$2,500,000
Dreyfus	International				Funds, Inc.
Dreyfus	Premier		Emerging Markets Fund
						GROUP	TOTAL:	$1,537,993,681	$1,500,000
DREYFUS		INSTITUTIONAL PREFERRED MONEY
MARKET		FUNDS
Dreyfus	Institutional			Preferred		Money Market Fund
Dreyfus	Institutional			Preferred		Plus Money Market	Fund
						GROUP	TOTAL:	$9,967,246,028	$2,500,000

Page: 6

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name								Amount of Bond
							Gross Assets at	Required	Pursuant to
							1/31/2006	Rule	17g-1(d)
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
					GROUP TOTAL:		$1,340,859,470	$1,250,000
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

Page: 7

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name										Amount of Bond
									Gross Assets at	Required	Pursuant to
									1/31/2006	Rule	17g-1(d)
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	Tax	Managed Growth				Fund
Dreyfus	US Treasury		Reserves
							GROUP	TOTAL:	$6,083,204,306	$2,500,000
The Dreyfus/Laurel			Funds		Trust
Dreyfus	Premier	Core Value			Fund
Dreyfus	Premier	Limited		Term		High Yield Fund
Dreyfus	Premier	Managed Income Fund
PREMIER INTERNATIONAL						BOND	FUND
							GROUP	TOTAL:	$1,197,726,599	$1,250,000
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
							GROUP	TOTAL:	$479,757,607		$750,000

Page: 8

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name

Amount of Bond

Gross

Assets at

Required

Pursuant to

1/31/2006

Rule

17g-1(d)

Dreyfus

LifeTime

Portfolios, Inc.

Growth & Income

Portfolio

Growth Portfolio

Income Portfolio

GROUP

TOTAL:

$263,276,142

$750,000

Dreyfus

Municipal Funds, Inc.

Dreyfus

BASIC

Municipal Money Market Fund

Dreyfus

BASIC

New Jersey Municipal

Money

Market Fund

Dreyfus

Premier

Select

Intermediate Municipal

Bond Fund

Dreyfus

Premier

Select

Municpal Bond

Fund

GROUP

TOTAL:

$804,118,226

$1,000,000

Dreyfus

Money

Market Instruments,

Inc.

Government Securities

Series

Money Market Series

GROUP

TOTAL:

$600,293,055

$900,000

Dreyfus

Premier Equity Funds, Inc.

Dreyfus

Premier

Growth

and Income Fund

GROUP

TOTAL:

$34,536,926

$300,000

Dreyfus

Premier Fixed

Income Funds

Dreyfus

Premier

Core Bond Fund

Page: 9

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,
1/31/2006
Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule
17g-1(d) Under the Investment CompanyAct of 1940

Fund Name									Amount of Bond
								Gross Assets at	Required	Pursuant to
								1/31/2006	Rule	17g-1(d)
						GROUP	TOTAL:	$922,212,228	$1,000,000
Dreyfus	Premier			International Funds, Inc.
Dreyfus	Premier		Greater		China Fund
Dreyfus	Premier		International Growth Fund, Inc.
						GROUP	TOTAL:	$209,735,508		$600,000
Dreyfus	Premier			Manager Funds I
BEAR STEARNS				PRIME MONEY MARKET FUND
PREMIER		ALPHA GROWTH
PREMIER		INTRINSIC VALUE FUND
PREMIER		S&P	STARS		FUND
PREMIER		S&P	STARS		OPPORTUNITIES FUND
						GROUP	TOTAL:	$4,509,884,857	$2,500,000
Dreyfus	Premier			Managers Funds II
Dreyfus	Premier		Blue Chip			Fund
Dreyfus	Premier		Select Fund
PREMIER		BALANCED			OPPORTUNITY FUND
						GROUP	TOTAL:	$971,031,351	$1,000,000
DREYFUS PREMIER OPPORTUNITY FUNDS
Dreyfus	Premier		Consumer Fund
Dreyfus	Premier		Enterprise			Fund

Page: 10

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name

Amount of Bond

Gross

Assets at

Required

Pursuant to

1/31/2006

Rule

17g-1(d)

Dreyfus

Premier

Finanical Services Fund

Dreyfus

Premier

Health Care Fund

Dreyfus

Premier

Natural

Leaders Fund

GROUP

TOTAL:

$349,548,204

$750,000

Dreyfus

Premier Stock

Funds

Dreyfus

Premier

International

Equity Fund

Dreyfus

Premier

International

Small Cap

Fund

Dreyfus

Premier

Small Cap Equity Fund

GROUP

TOTAL:

$409,721,883

$750,000

Dreyfus

Premier Value

Equity Funds

Dreyfus

Premier

Value Fund

GROUP

TOTAL:

$125,954,038

$525,000

Dreyfus

Variable Investment Fund

Appreciation Portfolio

Balanced Portfolio

Developing

Leaders

Portfolio

Disciplined

Stock Portfolio

Growth and

Income

Portfolio

International Equity

Portfolio

International Value Portfolio

Page: 11

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name							Amount of Bond
						Gross Assets at	Required	Pursuant to
						1/31/2006	Rule	17g-1(d)
Limited Term High Yield Portfolio
Money	Market Portfolio
Quality	Bond Portfolio
Small Company Stock Portfolio
Special	Value Portfolio
				GROUP	TOTAL:	$2,701,578,843	$1,900,000
General Government Securities Money Market Funds, Inc.
General Government Securities			Money	Market Fund
General Treasury Prime Money			Market	Fund
				GROUP	TOTAL:	$1,525,712,978	$1,500,000
General Municipal		Money Market Funds, Inc.
General Municipal Money Market Fund
				GROUP	TOTAL:	$1,697,920,949	$1,500,000
MELLON FUNDS		TRUST
Mellon	Balanced Fund
Mellon	Bond Fund
Mellon	Emerging Markets Fund
Mellon	Income Stock Fund
Mellon	Intermediate	Bond Fund
Mellon	International	Fund

Page: 12

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

1/31/2006

Sub-Investment Adviser or Administrator - Gross Assets at Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name								Amount of Bond
							Gross Assets at	Required	Pursuant to
							1/31/2006	Rule	17g-1(d)
Mellon	Large Cap		Stock		Fund
Mellon	Massachusetts Intermediate Municipal					Bond Fund
Mellon	Mid Cap	Stock		Fund
Mellon	Money Market			Fund
Mellon	National	Intermediate Municipal Bond				Fund
Mellon	National	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
					GROUP TOTAL:		$13,697,189,718	$2,500,000
Dreyfus Premier			State Municipal Bond Fund
Connecticut Series
Florida	Series
Maryland Series
Massachusetts Series
Michigan Series
Minnesota Series
North Carolina Series
Ohio Series

Page: 13

Fidelity Bond Coverage for Fund for Which the Dreyfus Corporation Acts as Investment Adviser,

Sub-Investment Adviser or Administrator - Gross Assets at 1/31/2006 Pursuant to Rule

17g-1(d) Under the Investment CompanyAct of 1940

Fund Name					Amount of Bond
				Gross Assets at	Required	Pursuant to
				1/31/2006	Rule	17g-1(d)
Pennsylvania Series
Texas Series
Virginia Series
		GROUP	TOTAL:	$1,667,070,248	$1,500,000
		GRAND	TOTALS:	$163,083,182,915	$106,950,000
AVAILABLE	FIDELITY	BOND COVERAGE			$125,000,000

Page: 14

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, 2006

Joni Lacks Charatan 

Vice President of: 

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 

(formerly, Dreyfus BASIC GNMA 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 and Value 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 

(formerly, Dreyfus Midcap Value Plus Fund) 

Dreyfus Premier International Value Fund 

(formerly, Dreyfus International Value Fund) 

Dreyfus Premier Select Midcap Growth Fund 

Dreyfus Premier Small Company Growth Fund

Dreyfus Premier Strategic Value Fund 

(formerly, Dreyfus Aggressive Value Fund) 

Dreyfus Premier Structured Large Cap Value Fund

Dreyfus Premier Structured Midcap Fund 

Dreyfus Premier Technology Growth Fund 

(formerly, Dreyfus Technology Growth Fund) 

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 

(formerly, Dreyfus Emerging Markets Fund) 

Dreyfus Investment Grade Funds, Inc. 

(formerly, Dreyfus Investment Grade Bond 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 

(formerly, Dreyfus Institutional 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 

(formerly, Dreyfus Tax-Smart Growth Fund) 

Dreyfus Premier Large Company Stock Fund 

(formerly, Dreyfus Disciplined Equity Income Fund)

Dreyfus Premier Limited Term Income Fund 

Dreyfus Premier Midcap Stock Fund 

(formerly, Dreyfus Disciplined Midcap Stock Fund) 

Dreyfus Premier Small Cap Value Fund 

Dreyfus Premier Tax Managed Growth Fund 

Dreyfus U.S. Treasury Reserves 

The Dreyfus/Laurel Funds Trust 

Dreyfus Premier Core Value Fund 

(formerly, Dreyfus Core Value Fund) 

Dreyfus Premier International Bond Fund 

Dreyfus Premier Managed Income Fund 

Dreyfus Premier Limited Term High Yield Fund 

(formerly, Dreyfus Premier Limited Term High Income 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. 

(formerly, Dreyfus BASIC Municipal Fund, 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 

(formerly, Dreyfus BASIC Intermediate Municipal Bond Portfolio) 

Dreyfus Premier Select Municipal Bond Fund 

(formerly, Dreyfus BASIC Municipal Bond Portfolio)

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. 

(formerly, Dreyfus California Tax Exempt Bond Fund, Inc.) 

Dreyfus Premier Equity Funds, Inc. 

Dreyfus Premier Growth and Income Fund 

Dreyfus Premier Fixed Income Funds (formerly, Debt and Equity Funds) 

Dreyfus Premier Core Bond Fund 

(formerly, Dreyfus 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 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. 

(formerly, Dreyfus New Jersey Municipal Bond Fund, Inc.) 

Dreyfus Premier New Leaders Fund, Inc. 

(formerly, Dreyfus New Leaders Fund, Inc.) 

Dreyfus Premier New York Municipal Bond Fund 

Dreyfus Premier Opportunity Funds 

Dreyfus Premier Consumer Fund 

Dreyfus Premier Enterprise Fund 

(formerly, Dreyfus Premier Micro-Cap Growth Fund)

Dreyfus Premier Financial Services Fund 

(formerly, Dreyfus Financial Services Fund) 

Dreyfus Premier Health Care Fund 

Dreyfus Premier Natural Leaders Fund 

Dreyfus Premier Short-Intermediate Municipal Bond Fund 

(formerly, Dreyfus 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. 

(formerly, Dreyfus Premier 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 

(formerly, Dreyfus 100% U.S. Treasury Intermediate Term Fund) 

Dreyfus U.S. Treasury Long Term Fund 

(formerly, Dreyfus 100% U.S. Treasury Long Term Fund) 

Dreyfus Variable Investment Fund 

Appreciation Portfolio 

Balanced Portfolio 

Developing Leaders Portfolio (formerly, Small Cap Portfolio) 

Disciplined Stock Portfolio 

Growth and Income Portfolio 

International Equity Portfolio 

International Value Portfolio 

Limited Term High Yield Portfolio 

(formerly, Limited Term High Income 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 (formerly, MPAM Funds Trust) 

Mellon Balanced Fund 

(formerly, MPAM Balanced Fund) 

Mellon Bond Fund 

(formerly, MPAM Bond Fund) 

Mellon Emerging Markets Fund 

(formerly, MPAM Emerging Markets Fund) 

Mellon Income Stock Fund 

(formerly, MPAM Income Stock Fund) 

Mellon Intermediate Bond Fund 

(formerly, MPAM Intermediate Bond Fund) 

Mellon International Fund 

(formerly, MPAM International Fund) 

Mellon Large Cap Stock Fund 

(formerly, MPAM Large Cap Stock Fund) 

Mellon Massachusetts Intermediate Municipal Bond Fund 

(formerly, MPAM Massachusetts Intermediate Municipal 

Bond Fund) 

Mellon Money Market Fund 

Mellon Mid Cap Stock Fund 

(formerly, MPAM Mid Cap Stock Fund) 

Mellon National Intermediate Municipal Bond Fund 

(formerly, MPAM National Intermediate Municipal Bond Fund) 

Mellon National Municipal Money Market Fund 

Mellon National Short-Term Municipal Bond Fund 

(formerly, MPAM National Short-Term Municipal Bond Fund) 

Mellon Pennsylvania Intermediate Municipal Bond Fund 

(formerly, MPAM Pennsylvania Intermediate Municipal Bond Fund) 

Mellon Short-Term U.S. Government Securities Fund 

(formerly, MPAM Short-Term U.S. Government Securities Fund) 

Mellon Small Cap Stock Fund 

(formerly, MPAM Small Cap Stock Fund)