EX-99

NSAR-CertificationCanter
Sub-Item 77Q3

I, Stephen E. Canter, certify that:

1.   I have reviewed this report on Form N-SAR of Dreyfus
     Balanced Fund, Inc.;

2.   Based on my knowledge, this report does not contain any
     untrue statement of a material fact or omit to state a
     material fact necessary to make the statements made, in
     light of the circumstances under which such statements
     were made, not misleading with respect to the period
     covered by this report;

3.   Based on my knowledge, the financial information
     included in this report, and the financial statements
     on which the financial information is based, fairly
     present in all material respects the financial
     condition, results of operations, changes in net
     assets, and cash flows (if the financial statements are
     required to include a statement of cash flows) of the
     registrant as of, and for, the periods presented in
     this report;

4.   The registrant's other certifying officers and I are
     responsible for establishing and maintaining disclosure
     controls and procedures (as defined in rule 30a-2(c)
     under the Investment Company Act) for the registrant
     and have:

a)   designed such disclosure controls and procedures to
     ensure that material information relating to the
     registrant, including its consolidated subsidiaries, is
     made known to us by others within those entities,
     particularly during the period in which this report is
     being prepared;
b)   evaluated the effectiveness of the registrant's
     disclosure controls and procedures as of a date within
     90 days prior to the filing date of this report (the
     "Evaluation Date"); and
c)   presented in this report our conclusions about the
     effectiveness of the disclosure controls and procedures
     based on our evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have
     disclosed, based on our most recent evaluation, to the
     registrant's auditors and the audit committee of the
     registrant's board of directors (or persons performing
     the equivalent functions):

a)   all significant deficiencies in the design or operation
     of internal controls which could adversely affect the
     registrant's ability to record, process, summarize, and
     report financial data and have identified for the
     registrant's auditors any material weaknesses in
     internal controls; and
b)   any fraud, whether or not material, that involves
     management or other employees who have a significant
     role in the registrant's internal controls; and



6.   The registrant's other certifying officers and I have
     indicated in this report whether or not there were
     significant changes in internal controls or in other
     factors that could significantly affect
     internal controls subsequent to the date
     of our most recent evaluation, including
     any corrective actions with
   regard to significant deficiencies and
                  material
     weaknesses.
Date: 10/24/02

                                        /s/
Stephen E. Canter
                                        Steph
                                        en E.
                                        Cante
                                        r
                                        Presi
                                        dent

EX-99

Report of Independent Auditors


To the Shareholders and Board of Directors
Dreyfus Balanced Fund, Inc.

In planning and performing our audit of the financial
statements of Dreyfus Balanced Fund, Inc. for the year
ended August 31, 2002, we considered its internal control,
including control activities for safeguarding securities,
in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-
SAR, not to provide assurance on internal control.

The management of Dreyfus Balanced Fund, Inc. is
responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected
benefits and related costs of controls.  Generally,
controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for
external purposes that are fairly presented in conformity
with accounting principles generally accepted in the United
States.  Those controls include the safeguarding of assets
against unauthorized acquisition, use, or disposition.

Because of inherent limitations in internal control, error
or fraud may occur and not be detected.  Also, projection
of any evaluation of internal control to future periods is
subject to the risk that it may become inadequate because
of changes in conditions or that the effectiveness of the
design and operation may deteriorate.

Our consideration of internal control would not necessarily
disclose all matters in internal control that might be
material weaknesses under standards established by the
American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or
operation of one or more of the internal control components
does not reduce to a relatively low level the risk that
misstatements caused by error or fraud in amounts that would
be material in relation to the financial statements being
audited may occur and not be detected within a timely period
by employees in the normal course of performing their
assigned functions.  However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of August 31, 2002.

This report is intended solely for the information and use

of management and the Board of Directors of Dreyfus Balanced

Fund, Inc. and the Securities and Exchange Commission and is

not intended to be and should not be used by anyone other

than these specified parties.





                                    ERNST & YOUNG LLP

October 17, 2002

EX-99

Revisedexhibit.doc
                           Exhibit


SUB-ITEM
77Q3(a)

          (i)  Based on an evaluation of the Disclosure
               Controls as of a date within 90 days of the
               Filing Date, the Disclosure Controls are
               effectively designed to ensure that
               information required to be disclosed by the
               Fund in the Report is recorded, processed,
               summarized and reported by the Filing Date,
               including ensuring that information required
               to be disclosed in the Report is accumulated
               and communicated to the Fund's management,
               including the Fund Officers, as appropriate
               to allow timely decisions regarding required
               disclosure


          (ii) There were no significant changes in the
               Fund's internal controls or in other factors
               that could significantly affect these
               controls subsequent to the date of their
               evaluation, and there were no corrective
               actions with regard to significant
               deficiencies and material weaknesses.


          (iii)     Certification of principal executive
     officer (see attached).
               Certification of principal financial officer
               (see attached).

EX-99

Sub-Item 77Q3
I, James Windels, certify that:
1.   I have reviewed this report on Form N-SAR of Dreyfus
     Balanced Fund, Inc.;

2.   Based on my knowledge, this report does not contain any
     untrue statement of a material fact or omit to state a
     material fact necessary to make the statements made, in
     light of the circumstances under which such statements
     were made, not misleading with respect to the period
     covered by this report;

3.   Based on my knowledge, the financial information
     included in this report, and the financial statements
     on which the financial information is based, fairly
     present in all material respects the financial
     condition, results of operations, changes in net
     assets, and cash flows (if the financial statements are
     required to include a statement of cash flows) of the
     registrant as of, and for, the periods presented in
     this report;

4.   The registrant's other certifying officers and I are
     responsible for establishing and maintaining disclosure
     controls and procedures (as defined in rule 30a-2(c)
     under the Investment Company Act) for the registrant
     and have:

a)   designed such disclosure controls and procedures to
     ensure that material information relating to the
     registrant, including its consolidated subsidiaries, is
     made known to us by others within those entities,
     particularly during the period in which this report is
     being prepared;
b)   evaluated the effectiveness of the registrant's
     disclosure controls and procedures as of a date within
     90 days prior to the filing date of this report (the
     "Evaluation Date"); and
c)   presented in this report our conclusions about the
     effectiveness of the disclosure controls and procedures
     based on our evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have
     disclosed, based on our most recent evaluation, to the
     registrant's auditors and the audit committee of the
     registrant's board of directors (or persons performing
     the equivalent functions):

a)   all significant deficiencies in the design or operation
     of internal controls which could adversely affect the
     registrant'0s ability to record, process, summarize,
     and report financial data and have identified for the
     registrant's auditors any material weaknesses in
     internal controls; and
b)   any fraud, whether or not material, that involves
     management or other employees who have a significant
     role in the registrant's internal controls; and



6.   The registrant's other certifying officers and I have
     indicated in this report whether or not there were
     significant changes in internal controls or in other
     factors that could significantly
     affect internal controls subsequent to
     the date of our most recent
     evaluation, including any corrective
     actions with regard to significant
     deficiencies and material
     weaknesses.
Date: 10/24/02

                                        /s/
                                        Jim
                                        Win
                                        del
                                        s
                                        Jam
                                        es
                                        Win
                                        del
                                        s
                                        Tre
                                        asu
                                        rer