THE DREYFUS/LAUREL FUNDS, INC.
                            REVISED DISTRIBUTION PLAN

      INTRODUCTION: It has been proposed that the above-captioned investment
company (the "Company"), consisting of distinct portfolios of shares (each a
"Fund"), adopt a Distribution Plan (the "Plan") relating to its Class T shares
in accordance with Rule 12b-1 promulgated under the Investment Company Act of
1940, as amended (the "Act"). Under the Plan, a Fund would pay the Company's
distributor (the "Distributor") for distributing the Class T shares of the Fund
(each such Fund as set forth on Exhibit A hereto, as such Exhibit may be revised
from time to time). Pursuant to the Act and said Rule 12b-1, this written plan
describing all material aspects of the proposed financing is being adopted by
the Company, on behalf of each Fund.

      The Company's Board, in considering whether a Fund should implement a
written plan with respect to its Class T shares has requested and evaluated such
information as it deemed necessary to make an informed determination as to
whether a written plan should be implemented and has considered such pertinent
factors as it deemed necessary to form the basis for a decision to use Fund
assets attributable to its Class T shares for such purposes.

      In voting to approve the implementation of such a plan with respect to a
Fund's Class T shares the Board members have concluded, in the exercise of their
reasonable business judgment and in light of their respective fiduciary duties,
that there is a reasonable likelihood that the plan set forth below will benefit
the Fund and the holders of its Class T shares.

      THE PLAN:  The material aspects of this Plan as it relates to Class T
shares of a Fund are as follows:

      1. DISTRIBUTION FEE FOR CLASS T SHARES. The Fund shall pay an amount equal
to the rate of .25 of 1% of the value of the Fund's average daily net assets
attributable to its Class T shares to the Distributor in respect of Class T
shares. Such payment shall be for distribution services, including payments by
the Distributor to compensate banks, broker/dealers or other financial
institutions that have entered into written agreements with the Distributor with
respect to advertising, marketing and other distribution services for Class T
shares.

      2. For purposes of determining the fee payable under this Plan with
respect to Class T shares of a Fund to which it relates, the value of the Fund's
net assets attributable to its Class T shares shall be computed in the manner
specified in the Company's charter documents as then in effect or in the
Company's then current Prospectus and Statement of Additional Information for
the computation of the value of the Fund's net assets attributable to Class T
shares.

      3. The Company's Board shall be provided, at least quarterly, with a
written report of all amounts expended pursuant to this Plan with respect to
Class T shares of a Fund to which it relates. The report shall state the purpose
for which the amounts were expended.

      4. This Plan shall become effective with respect to Class T shares of a
Fund to which it relates upon the approval by a majority of the Board members,
including a majority of the Board members who are not "interested persons" (as
defined in the Act) of the Company and who have no direct or indirect financial
interest in the operation of this Plan or in any agreements entered into in
connection with this Plan, pursuant to a vote cast in person at a meeting called
for the purpose of voting on the approval of this Plan.

      5. This Plan shall continue with respect to Class T shares of a Fund to
which it relates for a period of one year from its effective date, unless
earlier terminated in accordance with its terms, and thereafter shall continue
with respect to that Class automatically for successive annual periods, provided
such continuance is approved at least annually in the manner provided in
paragraph 4 hereof.

      6. This Plan may be amended, with respect to Class T shares of a Fund to
which it relates, at any time by the Company's Board, provided that (a) any
amendment to increase materially the costs that Class T shares of a Fund may
bear pursuant to this Plan shall be effective only upon approval by a vote of
the holders of a majority of the Fund's outstanding voting shares of that Class,
and (b) any material amendments of the terms of this Plan as it relates to Class
T shares of a Fund shall become effective only upon approval as provided in
paragraph 4 hereof.

      7. This Plan may be terminated, with respect to Class T shares of a Fund
to which it relates, without penalty at any time by (a) a vote of a majority of
the Board members who are not "interested persons" (as defined in the Act) of
the Company and who have no direct or indirect financial interest in the
operation of this Plan or in any agreements entered into in connection with this
Plan, or (b) a vote of the holders of a majority of the Fund's outstanding
voting shares of that Class.

      8. While this Plan is in effect, the selection and nomination of Board
members who are not "interested persons" (as defined in the Act) of the Company
and who have no direct or indirect financial interest in the operation of this
Plan or in any agreements entered into in connection with this Plan shall be
committed to the discretion of the Board members who are not "interested
persons".

      9. The Company will preserve copies of this Plan, any related agreement
and any report made pursuant to paragraph 3 hereof, for a period of not less
than six (6) years from the date of this Plan, such agreement or report, as the
case may be, the first two (2) years of such period in an easily accessible
place.

      IN WITNESS WHEREOF, the Company has adopted this Plan as of the 23rd day
of October, 1997, as revised August 14, 1999.





EXHIBIT A

Dreyfus Premier Tax Managed Growth Fund Dreyfus Premier Large Company Stock Fund

Dreyfus Premier Small Company Stock Fund Dreyfus Premier Midcap Stock Fund

Dreyfus Premier Balanced Fund Dreyfus Premier Small Cap Value Fund

Dreyfus Premier Core Equity Fund (effective April 15, 2002)