Dreyfus Government Prime Cash Management (Second Prospectus Summary) | Dreyfus Government Prime Cash Management

Fund Summary

Investment Objective

The fund seeks as high a level of current income as is consistent with
preservation of capital and the maintenance of liquidity.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund.

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

Annual Fund Operating Expenses	Dreyfus Government Prime Cash Management Agency Shares
Management fees	0.20%
Distribution and/or Service (Rule 12b-1) fees	0.06%
Other expenses	0.02%
Total annual fund operating expenses	0.28%

Example

The Example 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 and then redeem all of
your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the fund's operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:

Expense Example (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
Dreyfus Government Prime Cash Management Agency Shares	29	90	157	356

Principal Investment Strategy

As a money market fund, the fund is subject to maturity, quality, liquidity and
diversification requirements designed to help it maintain a stable share price
of $1.00.

To pursue its goal, the fund invests in securities issued or guaranteed as to
principal and interest by the U.S. government or its agencies or
instrumentalities. The securities in which the fund invests include those backed
by the full faith and credit of the U.S. government and those that are neither
insured nor guaranteed by the U.S. government.

While the fund is permitted to invest in the full range of securities issued or
guaranteed by the U.S. government or its agencies or instrumentalities, the fund
currently is managed so that income paid by the fund will be exempt from state
and local taxes. Because rules regarding the state and local taxation of
dividend income can differ from state to state, investors are urged to consult
their tax advisers about the taxation of the fund's dividend income in their
state and locality.

Principal Risks

An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency. Although the fund
seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.

The fund's yield will fluctuate as the short-term securities in its portfolio
mature and the proceeds are reinvested in securities with different interest
rates. Additionally, while the fund has maintained a constant share price since
inception, and will continue to try to do so, neither The Dreyfus Corporation
nor its affiliates are required to make a capital infusion, enter into a capital
support agreement or take other actions to prevent the fund's share price from
falling below $1.00. The following are the principal risks that could reduce the
fund's income level and/or share price:

o Interest rate risk. This risk refers to the decline in the prices of
fixed-income securities that may accompany a rise in the overall level of
interest rates. A sharp and unexpected rise in interest rates could cause a
money market fund's share price to drop below a dollar.

o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the
full faith and credit of the United States is guaranteed only as to the timely
payment of interest and principal when held to maturity, but the market prices
for such securities are not guaranteed and will fluctuate.

o Government securities risk. Not all obligations of the U.S. government, its
agencies and instrumentalities are backed by the full faith and credit of the
U.S. Treasury. Some obligations are backed only by the credit of the issuing
agency or instrumentality, and in some cases there may be some risk of default
by the issuer. Any guarantee by the U.S. government or its agencies or
instrumentalities of a security held by the fund does not apply to the market
value of such security or to shares of the fund itself.

o Liquidity risk. When there is little or no active trading market for specific
types of securities, it can become more difficult to sell the securities at or
near their perceived value. In such a market, the value of such securities may
fall dramatically, potentially lowering the fund's share price, even during
periods of declining interest rates. Also, during such periods, redemptions by a
few large investors in the fund may have a significant adverse effect on the
fund's net asset value and remaining fund shareholders.

Performance

The following bar chart and table provide some indication of the risks of
investing in the fund. The table shows the average annual total returns
of the fund's Agency shares over time. The fund's past performance
(before and after taxes) is no guarantee of future results. More recent
performance information may be available at www.dreyfus.com.

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

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

Best Quarter
Q1, 2008: 0.82%
Worst Quarter
Q3, 2010: 0.00%

The year-to-date total return of the fund's Agency shares as of 3/31/11 was 0.00%.

Average Annual Total Returns as of 12/31/10

Average Annual Total Returns	Average Annual Returns, 1 Year	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
Dreyfus Government Prime Cash Management Agency Shares	none	1.03%	Oct. 01, 2007

For the current yield for Agency shares call toll-free 1-800-346-3621. Individuals
or entities for whom institutions may purchase or redeem shares should call the
institution directly.