International Value Portfolio (Prospectus Summary) | International Value Portfolio

Fund Summary

Investment Objective

The fund seeks long-term capital growth.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund. These figures do not reflect any fees or charges imposed by
participating insurance companies under their Variable Annuity contracts (VA
contracts) or Variable Life Insurance policies (VLI policies).

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses International Value Portfolio	Initial Shares	Service Shares
Management fees	1.00%	1.00%
Distribution and/or service (Rule 12b-1) fees	none	0.25%
Other expenses	0.25%	0.25%
Total annual fund operating expenses	1.25%	1.50%

Example

The Example below is intended to help you compare the cost of investing in the
fund with the cost of investing in other mutual funds. The Example assumes that
you invest $10,000 in the fund for the time periods indicated. The Example also
assumes that your investment has a 5% return each year and that the fund's
operating expenses remain the same. The Example does not reflect fees and
expenses incurred under VA contracts and VLI policies; if they were reflected,
the figures in the Example would be higher. Although your actual costs may be
higher or lower, based on these assumptions your costs would be:

Expense Example International Value Portfolio (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
Initial Shares	127	397	686	1,511
Service Shares	153	474	818	1,791

Portfolio Turnover

The fund pays transaction costs, such as commissions, when it buys and
sells securities (or "turns over" its portfolio). A higher portfolio turnover may
indicate higher transaction costs. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the fund's
performance. During the most recent fiscal year, the fund's portfolio
turnover rate was 46.71% of the average value of its portfolio.

Principal Investment Strategy

To pursue its goal, the fund normally invests at least 80% of its net assets,
plus any borrowings for investment purposes, in stocks. The fund normally
invests substantially all of its assets in the stocks of foreign companies,
including those located in emerging market countries. The fund ordinarily
invests most of its assets in securities of foreign companies which The Dreyfus
Corporation considers to be value companies. The fund's investment approach is
value oriented and research driven. In selecting stocks, the portfolio managers
identify potential investments through extensive quantitative and fundamental
research. Emphasizing individual stock selection rather than economic and
industry trends, the fund focuses on three key factors:

o value, or how a stock is valued relative to its intrinsic worth based on
traditional value measures

o business health, or overall efficiency and profitability as measured by return
on assets and return on equity

o business momentum, or the presence of a catalyst (such as corporate
restructuring, change in management or spin-off) that potentially will trigger a
price increase near term to midterm

Principal Risks

An investment in the fund is not a bank deposit. It is not insured or guaranteed
by the FDIC or any other government agency. It is not a complete investment
program. The fund's share price fluctuates, sometimes dramatically, which means
you could lose money.

o Risks of stock investing. Stocks generally fluctuate more in value than bonds
and may decline significantly over short time periods. There is the chance that
stock prices overall will decline because stock markets tend to move in cycles,
with periods of rising prices and falling prices. The market value of a stock
may decline due to general weakness in the stock market or because of factors
that affect the company or its particular industry.

o Foreign investment risk. The fund's performance will be influenced by
political, social and economic factors affecting investments in foreign issuers.
Special risks associated with investments in foreign issuers include exposure
to currency fluctuations, less liquidity, less developed or less efficient trading
markets, lack of comprehensive company information, political and economic
instability and differing auditing and legal standards.

o Emerging market risk. The securities of issuers located in emerging markets
tend to be more volatile and less liquid than securities of issuers located in
more mature economies, and emerging markets generally have less diverse
and less mature economic structures and less stable political systems than
those of developed countries. The securities of issuers located or doing
substantial business in emerging markets are often subject to rapid and large
changes in price.

o Value stock risk. Value stocks involve the risk that they may never reach
their expected full market value, either because the market fails to recognize
the stock's intrinsic worth or the expected value was misgauged. They also
may decline in price even though in theory they are already undervalued.

o Liquidity risk. When there is little or no active trading market for a security,
the fund may not be able to sell the security in a timely manner at its perceived
value, which could cause the fund's share price to fall. Investments in foreign
securities, particularly those of issuers located in emerging markets, tend to
have greater exposure to liquidity risk than domestic securities.

Performance

The following bar chart and table provide some indication of the risks of
investing in the fund. The table compares the average annual total returns
of the fund's shares to those of a broad measure of market performance. The
fund's past performance is no guarantee of future results. More recent
performance information may be available at www.dreyfus.com.

Performance information reflects the fund's expenses only and does not reflect
the fees and charges imposed by participating insurance companies under their
VA contracts or VLI policies. Because these fees and charges will reduce total
return, policyowners should consider them when evaluating and comparing the
fund's performance. Policyowners should consult the prospectus for their contract
or policy for more information.

The bar chart shows changes in the performance of the fund's Initial shares
from year to year.

Year-by-Year Total Returns as of 12/31 each year (%) -- Initial Shares

Best Quarter              
Q2, 2009: 25.18%          
Worst Quarter             
Q3, 2011: -21.80%

Average Annual Total Returns (as of 12/31/11)

Average Annual Total Returns International Value Portfolio	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, 10 Years
Initial Shares	Initial Shares	(18.48%)	(6.15%)	3.68%
Service Shares	Service Shares	(18.76%)	(6.39%)	3.48%
MSCI EAFE®	MSCI EAFE® Index reflects no deduction for fees, expenses or taxes	(12.14%)	(4.72%)	4.67%