Dreyfus has made the following announcements regarding mergers of the below mentioned funds.

Apr 07, 2008

Effective April 25, 2008 the Dreyfus Premier Managed Income fund will merge into the Dreyfus Intermediate Term Income Fund. Upon the merger on April 25, 2008, the Intermediate Term Income Fund will change its name to Dreyfus Premier Intermediate Term Income Fund.

Also effective April 25, 2008, the Dreyfus Founders Balanced Fund, will be merging into the DreyfusLifeTime Growth and Income Fund.