-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000890341-01-500007.txt : 20010524
<SEC-HEADER>0000890341-01-500007.hdr.sgml : 20010524
ACCESSION NUMBER:		0000890341-01-500007
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20010523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREYFUS BALANCED FUND INC
		CENTRAL INDEX KEY:			0000890341
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		
		SEC FILE NUMBER:	033-50350
		FILM NUMBER:		1646578

	BUSINESS ADDRESS:	
		STREET 1:		144 GLENN CURTISS BLVD
		STREET 2:		C/O DREYFUS CORP
		CITY:			UNIONDALE
		STATE:			NY
		ZIP:			11556
		BUSINESS PHONE:		2129226130
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>stk222.txt
<DESCRIPTION>SUPPLEMENT TO SAI
<TEXT>

                                                                    May 23, 2001

                              Dreyfus Balanced Fund

               Supplement to Statement of Additional Information
                               Dated April 1, 2001

      The Fund may purchase securities of companies in initial public offerings
("IPOs"). The prices of securities purchased in IPO's can be very volatile. The
effect of IPOs on the Fund's performance depends on a variety of factors,
including the number of IPOs the Fund invests in, whether and to what extent a
security purchased in an IPO appreciates in value, and the asset base of the
Fund. As a fund's asset base increases, IPOs often have a diminished effect on
such fund's performance.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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