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<SEC-DOCUMENT>0000855887-06-000003.txt : 20060403
<SEC-HEADER>0000855887-06-000003.hdr.sgml : 20060403
<ACCEPTANCE-DATETIME>20060403153226
ACCESSION NUMBER:		0000855887-06-000003
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060131
FILED AS OF DATE:		20060403
DATE AS OF CHANGE:		20060403
EFFECTIVENESS DATE:		20060403

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREYFUS STRATEGIC MUNICIPAL BOND FUND INC
		CENTRAL INDEX KEY:			0000855887
		IRS NUMBER:				051287040
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05877
		FILM NUMBER:		06733239

	BUSINESS ADDRESS:	
		STREET 1:		THE DREYFUS CORPORATION
		STREET 2:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
		BUSINESS PHONE:		2129228297

	MAIL ADDRESS:	
		STREET 1:		C/O DREYFUS CORP
		STREET 2:		200 PARK AVENUE, 8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREYFUS STRATEGIC MUNICIPALS INC
		CENTRAL INDEX KEY:			0000818972
		IRS NUMBER:				133426554
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05245
		FILM NUMBER:		06733240

	BUSINESS ADDRESS:	
		STREET 1:		THE DREYFUS CORPORATION
		STREET 2:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
		BUSINESS PHONE:		2129228297

	MAIL ADDRESS:	
		STREET 1:		DREYFUS CORP
		STREET 2:		200 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>proxy852.htm
<DESCRIPTION>DEFINITIVE PROXY FILING
<TEXT>
<HTML>
<HEAD>
   <TITLE>proxy852</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY bgcolor="#ffffff">


<A name="page_1"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% nowrap>
<B><FONT size=4 face="serif">DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100%>
<B><FONT size=4 face="serif">DREYFUS STRATEGIC MUNICIPALS, INC.</FONT></B>
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<B><I><FONT face="serif">Notice of Annual Meeting of Stockholders</FONT></I></B></P>
<P>
<FONT size=2 face="serif">To the Stockholders:</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Annual Meeting of Stockholders of each of Dreyfus Strategic Municipal
Bond Fund, Inc. and Dreyfus Strategic Municipals, Inc. (each, a &#147;Fund&#148; and, collectively, the
&#147;Funds&#148;) will be held at the offices of The Dreyfus Corporation, 200 Park Avenue, 7th Floor, New York, New York, on
Thursday, May 18, 2006 at 10:00 a.m., for the following purposes:</FONT></P>
<TABLE border=0 align="center" cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">1. To elect Directors to serve for a three-year term and until their successors are duly elected and
qualified.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">2. To transact such other business as may properly come before the meeting, or any adjournment
or</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">adjournments thereof.</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Stockholders of record at the close of business on March 14, 2006 will be
entitled to receive notice of and to vote at the meeting.</FONT></P>
<P>
<FONT size=2 face="serif">By Order of the Board</FONT></P>
<P align="right">
<IMG src="proxy852x1x1.jpg" border=0>
</P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">New York, New York</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">March 20, 2006</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT face="sans-serif">WE NEED YOUR PROXY VOTE</FONT></B><BR>
</TD></TR></TABLE>
<P>
<B><FONT face="sans-serif">A STOCKHOLDER MAY THINK HIS OR HER VOTE IS NOT IMPORTANT, BUT IT IS </FONT></B><B><U><FONT
face="sans-serif">VITAL</FONT></U></B><B><FONT face="sans-serif">. BY LAW, THE ANNUAL MEETING OF STOCKHOLDERS OF A FUND WILL HAVE
TO BE ADJOURNED WITHOUT CONDUCTING ANY BUSINESS IF LESS THAN A QUORUM IS REPRESENTED. IN THAT EVENT, THE AFFECTED FUND WOULD CONTINUE
TO SOLICIT VOTES IN AN ATTEMPT TO ACHIEVE A QUORUM. CLEARLY, YOUR VOTE COULD BE CRITICAL TO ENABLE THE FUND TO HOLD
THE MEETING AS SCHEDULED, SO PLEASE RETURN YOUR PROXY CARD OR OTHERWISE VOTE PROMPTLY. YOU AND ALL OTHER STOCKHOLDERS WILL BENEFIT
FROM YOUR COOPERATION.</FONT></B></P>

<HR noshade align="center" width="100%" size=2>


<A name="page_2"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% nowrap>
<B><FONT size=4 face="serif">DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100%>
<B><FONT size=4 face="serif">DREYFUS STRATEGIC MUNICIPALS, INC.</FONT></B>
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT face="serif">COMBINED PROXY STATEMENT</FONT></B><BR>
</TD></TR></TABLE>
<TABLE border=0 align="center" cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% nowrap>
<B><I><FONT size=2 face="serif">Annual Meeting of Stockholders</FONT></I></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<B><FONT size=2 face="serif">to be held on Thursday, May 18, 2006</FONT></B>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">This proxy statement is furnished in connection with a solicitation of
proxies by the Board of Directors of each of Dreyfus Strategic Municipal Bond Fund, Inc. (&#147;DSMB&#148;) and Dreyfus
Strategic Municipals, Inc. (&#147;DSM&#148;) (each, a &#147;Fund&#148; and, collectively, the &#147;Funds&#148;) to be used at the
Annual Meeting of Stockholders of each Fund to be held on Thursday, May 18, 2006 at 10:00 a.m., at the offices of The
Dreyfus Corporation (&#147;Dreyfus&#148;), 200 Park Avenue, 7th Floor, New York, New York, for the purposes set forth in the
accompanying Notice of Annual Meeting of Stockholders. Stockholders of record at the close of business on March 14, 2006 are
entitled to be present and to vote at the meeting. Stockholders are entitled to one vote for each Fund share held and fractional
votes for each fractional Fund share held. Stockholders can vote only on matters affecting the Fund(s) in which they
hold shares. If a proposal is approved by stockholders of one Fund and not approved by stockholders of the other Fund, the proposal
will be implemented only for the Fund that approved the proposal. Therefore, it is essential that stockholders who
own shares in both Funds complete, date, sign and return </FONT><U><FONT size=2 face="serif">each </FONT></U><FONT size=2
face="serif">proxy card they receive. Shares represented by executed and unrevoked proxies will be voted in accordance with the
specifications made thereon. If any enclosed form of proxy is executed and returned, it nevertheless may be revoked by a proxy given
later. To be effective, such revocation must be received prior to the meeting. In addition, any stockholder who
attends the meeting in person may vote by ballot at the meeting, thereby canceling any proxy previously given. As of March 14, 2006,
the Funds had outstanding the following number of shares:</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=26% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">Common Stock</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">Auction Preferred Stock</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=26% nowrap>
<B><U><FONT size=2 face="serif">Name of Fund</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">Outstanding</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">Outstanding</FONT></B>&nbsp;
         </TD>
</TR>
<TR>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
<HR noshade size=1>
         </TD>
         <TD>
         </TD>
         <TD>
<HR noshade size=1>
         </TD>
</TR>
<TR valign="bottom">
         <TD width=26% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=35% nowrap>
<FONT size=2 face="serif">48,254,703</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">7,440</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=26% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=35% nowrap>
<FONT size=2 face="serif">60,588,631</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">11,400</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">It is estimated that proxy materials will be mailed to stockholders of record
on or about April 6, 2006. The principal executive offices of each Fund are located at 200 Park Avenue, New York,
New York 10166. </FONT><B><FONT size=2 face="serif">Copies of each Fund&#146;s most recent Annual and Semi-Annual Reports are
available upon request, without charge, by writing to the Fund at 144 Glenn Curtiss Boulevard, Uniondale, New York
11556-0144, or by calling toll-free 1-800-334-6899.</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">A quorum is constituted by the presence in person or by proxy of the holders
of a majority of the outstanding shares of the Fund entitled to vote at the meeting. If a proposal is to be voted
upon by only one class of a Fund&#146;s shares, a quorum of that class of shares (the holders of a majority of the outstanding shares
of the class) must be present in person or by proxy at the meeting in order for the proposal to be considered. Each
Fund has two classes of capital stock: Common Stock, par value $0.001 per share (the &#147;Common Stock&#148;), and Auction Preferred
Stock, par value $0.001 per share, liquidation preference $25,000 per share (the &#147;APS&#148;). The APS is
further divided into Series A, Series B and Series C for DSMB and Series M, Series T, Series W, Series TH and Series F for DSM.
Currently, no proposal is expected to be presented at the meeting that would require separate voting for each Series of
APS.</FONT></P>

<HR noshade align="center" width="100%" size=2>


<A name="page_3"></A>

<P>
<B><FONT size=2 face="serif">PROPOSAL 1: ELECTION OF DIRECTORS</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Each Fund&#146;s Board of Directors is divided into three classes with the
term of office of one class expiring each year. It is proposed that stockholders of each Fund consider the election of
the individuals listed below (the &#147;Nominees&#148;) as Directors of the indicated class of such Fund, to serve for three-year
terms and until their respective successors are duly elected and qualified. With respect to DSMB, Messrs. Joseph S.
DiMartino, William Hodding Carter, III and Richard C. Leone are nominated to be elected as Class I Directors to serve for a
three-year term. With respect to DSM, David W. Burke, Hans C. Mautner and John E. Zuccotti are nominated to be elected as
Class III Directors to serve for a three-year term. Each Nominee currently serves as a Director of the Fund for which his election is
proposed. Messrs. DiMartino, Carter and Leone also are continuing Class I Directors of DSM and Messrs. Burke,
Mautner and Zuccotti also are continuing Class III Directors of DSMB. Each Nominee has consented to being named in this proxy
statement and has agreed to continue to serve as a Director of the indicated Fund if elected. Biographical information
about each Nominee is set forth below. Biographical information about each Fund&#146;s Continuing Directors, information on each
Nominee&#146;s and Continuing Director&#146;s ownership of Fund shares and other relevant information is set forth on
Exhibit A. Unless otherwise indicated, information set forth herein applies to both Funds.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Under the terms of each Fund&#146;s Charter, holders of the APS voting as a
single class are entitled, to the exclusion of holders of the Common Stock, to elect two Directors. Mr. Zuccotti
currently is a Nominee for election by holders of DSM&#146;s APS as a Class III Director. DSMB&#146;s APS holders elected Mr.
Zuccotti in 2005 as a Class III Director whose term expires in 2008, Robin A. Melvin is the other Director designated for
holders of APS. Ms. Melvin was elected by APS holders of DSMB in 2004 as a Class II Director whose term expires in 2007, and by APS
holders of DSM in 2005 as a Class II Director whose term expires in 2008.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Voting with regard to the election of Directors will be as follows: for DSM,
holders of Common Stock and APS will vote together as a single class with respect to the election of Messrs. Burke
and Mautner as Class III Directors and for DSMB, holders of Common Stock and APS will vote together as a single class with respect to
the election of each Class I Director. APS holders of DSM will vote separately, to the exclusion of holders of the
Common Stock, with respect to the election of Mr. Zuccotti as a Class III Director to represent the APS of DSM.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The persons named as proxies on the accompanying proxy card(s) intend to vote
each such proxy for the election of the Nominees, unless stockholders specifically indicate on their proxies the
desire to withhold authority to vote for elections to office. It is not contemplated that any Nominee will be unable to serve as a
Director for any reason, but if that should occur prior to the meeting, the proxyholders reserve the right to
substitute another person or persons of their choice as nominee or nominees.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">None of the Nominees or Continuing Directors are &#147;interested
persons&#148; of either Fund, as defined in the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;). As
independent directors of investment companies, they play a critical role in overseeing fund operations and policing potential
conflicts of interest between the fund and its investment adviser and other service providers. The following tables present
information about the Nominees including their principal occupations and other board memberships and affiliations. The address of
each Nominee is 200 Park Avenue, New York, New York 10166.</FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">2</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_4"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% colspan=5>
<B><I><FONT size=2 face="serif">DSMB &#151; Nominees for Class I Director with Term Expiring in 2009</FONT></I></B>
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">Name (Age) of Nominee</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">Principal Occupation</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<B><FONT size=2 face="serif">Other Board Memberships</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><U><FONT size=2 face="serif">Position with Fund (Since)</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<B><U><FONT size=2 face="serif">During Past 5 Years</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<B><U><FONT size=2 face="serif">and Affiliations</FONT></U></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">JOSEPH S. DiMARTINO </FONT></B><FONT size=2 face="serif">(62)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">Corporate Director and Trustee</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">The Muscular Dystrophy</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">Chairman of the Board and</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Association, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">Class I Director of DSMB </FONT></B><FONT size=2 face="serif">(1995)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Levcor International, Inc.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">an apparel fabric proces-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">sor, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Century Business Services,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Inc., a provider of out-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">sourcing functions for</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">small and medium size</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">companies, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">The Newark Group, a</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">provider of a national</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">market of paper recov-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">ery facilities, paper-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">board mills and paper-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">board converting</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">plants, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Sunair Services Corpor-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">ation, engages in the</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">design, manufacture</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">and sale of high fre-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">quency systems for</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">long-range voice and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">data communications,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">as well as providing</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">certain outdoor-related</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">services to homes and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">businesses, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">WILLIAM HODDING CARTER, III </FONT></B><FONT size=2 face="serif">(70)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">President and Chief Executive</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Independent Sector,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">Class I Director of DSMB </FONT></B><FONT size=2 face="serif">(1989)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">Officer of John S. and James L.</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">Knight Foundation (1998-2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">The Century Foundation,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">The Enterprise Corporation</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">of the Delta, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Foundation of the Mid-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">South, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">RICHARD C. LEONE </FONT></B><FONT size=2 face="serif">(65)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">President of The Century</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">The American Prospect,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">Class I Director of DSMB </FONT></B><FONT size=2 face="serif">(1989)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">Foundation (formerly, The</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">Twentieth Century Fund, Inc.), a tax</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Center for American</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">exempt research foundation engaged</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Progress, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">in the study of economic, foreign</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=34% nowrap>
<FONT size=2 face="serif">policy and domestic issues</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">3</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_5"></A>

<P align="center">
<B><I><FONT size=2 face="serif">DSM &#151; Nominees for Class III Director with Term Expiring in 2009</FONT></I></B></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">Name (Age) of Nominee</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<B><FONT size=2 face="serif">Principal Occupation</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<B><FONT size=2 face="serif">Other Board Memberships</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><U><FONT size=2 face="serif">Position with Fund (Since)</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<B><U><FONT size=2 face="serif">During Past 5 Years</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<B><U><FONT size=2 face="serif">and Affiliations</FONT></U></B>&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">DAVID W. BURKE </FONT></B><FONT size=2 face="serif">(69)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Corporate Director and Trustee</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">John F. Kennedy Library</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">Class III Director of DSM </FONT></B><FONT size=2 face="serif">(1994)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Foundation, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">U.S.S. Constitution</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Museum, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">HANS C. MAUTNER </FONT></B><FONT size=2 face="serif">(68)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">President - International Division</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Capital and Regional</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">Class III Director of DSM </FONT></B><FONT size=2 face="serif">(1989)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">and an Advisory Director of</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">PLC, a British co-invest-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Simon Property Group, a real</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">ing real estate asset man-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">estate investment company (1998-</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">ager, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">present)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Member &#150; Board of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Director and Vice Chairman of</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Managers of:</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Simon Property Group (1998-</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Mezzacappa Long/Short</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">2003)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Fund LLC</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Chairman and Chief Executive</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Mezzacappa Multi-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Officer of Simon Global Limited</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Strategy Fund LLC</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">(1999-present)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Mezzacappa Multi-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Strategy Plus Fund LLC</FONT>&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">JOHN E. ZUCCOTTI </FONT></B><FONT size=2 face="serif">(68)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Chairman of Brookfield Financial</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Emigrant Savings Bank,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">Class III Director of DSMB </FONT></B><FONT size=2 face="serif">(1989)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Properties, Inc.</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
<B><FONT size=2 face="serif">APS Designee for DSM </FONT></B><FONT size=2 face="serif">(2000)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Senior Counsel of Weil, Gotshal &amp;</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Wellpoint, Inc., Director</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Manges, LLP</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Visiting Nurse Service of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">Chairman of the Real Estate Board</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">New York, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
<FONT size=2 face="serif">of New York</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Columbia University,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<I><FONT size=2 face="serif">Trustee</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Doris Duke Charitable</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=34% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=37% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Foundation, </FONT><I><FONT size=2 face="serif">Trustee</FONT></I>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Each Fund has standing audit, nominating and compensation committees, each
comprised of its Directors who are not &#147;interested persons&#148; of the Fund, as defined in the 1940 Act. The
function of the audit committee is (1) to oversee the Fund&#146;s accounting and financial reporting processes and the audits of the
Fund&#146;s financial statements and (2) to assist in the Board of Directors&#146; oversight of the integrity of the
Fund&#146;s financial statements, the Fund&#146;s compliance with legal and regulatory requirements and the independent
auditors&#146; qualifications, independence and performance. The Fund&#146;s Audit Committee Charter, which describes the audit
committee&#146;s purposes, duties and responsibilities, was attached as an exhibit to the Funds&#146; proxy statement dated April 15,
2004. </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Each Fund&#146;s nominating committee is responsible for selecting and
nominating persons as members of the Board of Directors for election or appointment by the Board and for election by
stockholders. Each nominating committee member is &#147;independent&#148; as defined by the New York Stock Exchange. A copy of the
Funds&#146; Nominating Committee Charter and Procedures was attached as an exhibit to the Funds&#146; proxy statement
dated April 15, 2004 (the &#147;Nominating Committee Charter&#148;). In evaluating potential nominees, including any nominees
recommended by stockholders, the committee takes into consideration the factors listed in the Nominating Committee Charter,
including character and integrity, business and professional experience, and whether the committee believes the person has the
ability to apply sound and independent business judgment and would act in the interest of the Fund and its stockholders.
The committee will consider recommendations for nominees from stockholders submitted to the Secretary of the Fund, c/o The Dreyfus
Corporation Legal Department, 200 Park Avenue, 8th Floor, New York, New York 10166, and including information
regarding the recommended nominee as specified in the Nominating Committee Charter. </FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">4</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_6"></A>

<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The function of the compensation committee is to establish the appropriate
compensation for serving on the Board. Each Fund also has a standing pricing committee, comprised of any one Director.
The function of the pricing committee is to assist in valuing the Fund&#146;s investments. </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">DSM&#146;s and DSMB&#146;s audit committee met five and four times
respectively during the Fund&#146;s last fiscal year. Each Fund&#146;s nominating committee met once and each Fund&#146;s
pricing and compensation committees did not meet during the Fund&#146;s last fiscal year.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Each Fund Director also serves as a director of other funds in the Dreyfus
fund complex. Annual retainer fees and attendance fees are allocated on the basis of net assets, with the Chairman of
the Board of each Fund, Joseph S. DiMartino, receiving an additional 25% in annual retainer and per meeting fees. The Fund reimburses
Directors for their expenses. Emeritus Directors, if any, are entitled to receive an annual retainer and per
meeting attended fee of one-half the amount paid to them as Directors. The Funds had no Emeritus Directors as of the date of this
proxy statement. The Funds do not pay any other remuneration to their officers or Directors and neither Fund has a
bonus, pension, profit-sharing or retirement plan.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The aggregate amount of compensation paid to each Nominee by DSMB for its
fiscal year ended November 30, 2005, and by DSM for its fiscal year ended September 30, 2005, and the aggregate amount
of compensation paid to each such Nominee by all funds in the Dreyfus Family of Funds for which such Nominee was a Board member (the
number of portfolios of such funds is set forth in parenthesis next to each Nominee&#146;s total compensation) for
the year ended December 31, 2005, was as follows:</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<B><FONT size=2 face="serif">Total Compensation</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<B><FONT size=2 face="serif">Aggregate</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<B><FONT size=2 face="serif">from each Fund and</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">Name of</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<B><FONT size=2 face="serif">Compensation</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<B><FONT size=2 face="serif">Fund Complex</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><U><FONT size=2 face="serif">Nominee and Fund</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<B><U><FONT size=2 face="serif">from each Fund*</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<B><U><FONT size=2 face="serif">Paid to Nominee (**)</FONT></U></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">William Hodding Carter, III</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<FONT size=2 face="serif">$51,000 (11)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$4,581</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$6,897</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">Joseph S. DiMartino</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<FONT size=2 face="serif">$833,262 (190)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$5,725</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$8,623</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">Richard C. Leone</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<FONT size=2 face="serif">$47,000 (11)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$4,581</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$6,897</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">David W. Burke</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<FONT size=2 face="serif">$287,500 (84)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$4,581</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$6,897</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">Hans C. Mautner</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<FONT size=2 face="serif">$51,000 (11)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$4,581</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$6,897</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">John E. Zuccotti</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
<FONT size=2 face="serif">$51,000 (11)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$4,581</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=33% nowrap>
<FONT size=2 face="serif">$6,336</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=26% nowrap>
&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
<FONT size=2 face="serif">* Amount does not include the cost of office space, secretarial services and health benefits for the
chairman and expenses reimbursed to Board members attending Board meetings, which in the aggregate amounted to $3,301 for
DSM and $2,646 for DSMB for all Directors as a group.</FONT></P>
<P>
<FONT size=2 face="serif">** Represents the number of separate portfolios comprising the investment companies in the fund complex,
including the Funds, for which the Nominee serves as a Board member.</FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">5</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_7"></A>

<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">For each Fund&#146;s most recent fiscal year, the number of Board meetings
held and aggregate amount of compensation paid to each Continuing Director who is not a Nominee by each Fund and by
all funds in the Dreyfus Family of Funds for which such person is a Board member are set forth on Exhibit A. Certain other
information concerning each Fund&#146;s Directors and officers also is set forth on Exhibit A.</FONT></P>
<P>
<B><FONT size=2 face="serif">Required Vote</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The election of a Nominee for Director of each Fund requires the affirmative
vote of a plurality of votes cast at the Fund&#146;s meeting for the election of Directors.</FONT></P>
<P>
<B><FONT size=2 face="serif">ADDITIONAL INFORMATION</FONT></B></P>
<P>
<B><FONT size=2 face="serif">Selection of Independent Registered Public Accounting Firm</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The 1940 Act requires that each Fund&#146;s independent registered public
accounting firm (the &#147;independent auditors&#148; or &#147;auditors&#148;) be selected by a majority of those
Directors who are not &#147;interested persons&#148; (as defined in the 1940 Act) of the Fund. The audit committee has direct
responsibility for the appointment, compensation, retention and oversight of the Fund&#146;s independent auditors. At a
meeting held on November 14, 2005 for DSMB and August 15, 2005 for DSM, each Fund&#146;s audit committee approved and each
Fund&#146;s Board, including a majority of those Directors who are not &#147;interested persons&#148; of the Fund, ratified
the selection of Ernst &amp; Young LLP (&#147;E&amp;Y&#148;) as the independent auditors for the respective Fund&#146;s fiscal year
ending in 2006. E&amp;Y, a major international accounting firm, has acted as auditors of each Fund since the
Fund&#146;s organization. After reviewing the Fund&#146;s audited financial statements for the fiscal year ended September 30, 2005
for DSM, and November 30, 2005 for DSMB, each Fund&#146;s audit committee recommended to the Fund&#146;s Board that
such statements be included in the Fund&#146;s annual report to stockholders. Copies of the audit committee&#146;s report for DSM and
DSMB are attached as Exhibits B and C, respectively, to this proxy statement.</FONT></P>
<P>
<B><FONT size=2 face="serif">Independent Auditor Fees and Services</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The following chart reflects fees to E&amp;Y in each Fund&#146;s last two
fiscal years. For Service Affiliates (i.e., Dreyfus and any entity controlling, controlled by or under common control
with Dreyfus that provides ongoing services to the relevant Fund), any fees under the audit-related and tax fees designations
represent only those fees that required pre-approval by the audit committee. </FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=20% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=15% nowrap>
<B><U><FONT size=2 face="serif">DSM</FONT></U></B><B><SUP><FONT size=2 face="serif">1</FONT></SUP></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=20% nowrap>
<B><U><FONT size=2 face="serif">Service Affiliates</FONT></U></B><B><SUP><FONT size=2 face="serif">1</FONT></SUP></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<B><U><FONT size=2 face="serif">DSMB</FONT></U></B><B><SUP><FONT size=2 face="serif">2</FONT></SUP></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<B><U><FONT size=2 face="serif">Service Affiliates</FONT></U></B><B><SUP><FONT size=2 face="serif">2</FONT></SUP></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap>
<B><FONT size=2 face="serif">Audit Fees</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=15% nowrap>
<FONT size=2 face="serif">$31,710/$34,374</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=20% nowrap>
<FONT size=2 face="serif">N/A</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">$31,710/$34,374</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">N/A</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap>
<B><FONT size=2 face="serif">Audited-Related Fees</FONT></B><B><SUP><FONT size=2 face="serif">3</FONT></SUP></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=15% nowrap>
<FONT size=2 face="serif">$20,500/$4,725</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=20% nowrap>
<FONT size=2 face="serif">$0/$0</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">$20,500/$16,800</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">$0/$0</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap>
<B><FONT size=2 face="serif">Tax Fees</FONT></B><B><SUP><FONT size=2 face="serif">4</FONT></SUP></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=15% nowrap>
<FONT size=2 face="serif">$2,610/$3,018</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=20% nowrap>
<FONT size=2 face="serif">$0/$0</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">$2,674/$2,994</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">$0/$0</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap>
<B><FONT size=2 face="serif">Aggregate Non-Audit Fees</FONT></B><B><SUP><FONT size=2 face="serif">5</FONT></SUP></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=15% nowrap>
<FONT size=2 face="serif">$0/$0</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=20% nowrap>
<FONT size=2 face="serif">$1,009,324/$761,002</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">$0/$0</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">$832,155/$917,339</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% nowrap>
<SUP><FONT size=2 face="serif">1 </FONT></SUP><FONT size=2 face="serif">Fiscal years ended September 30, 2004/September 30,
2005.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<SUP><FONT size=2 face="serif">2 </FONT></SUP><FONT size=2 face="serif">Fiscal years ended November 30, 2004/November 30,
2005.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<SUP><FONT size=2 face="serif">3 </FONT></SUP><FONT size=2 face="serif">Services to the Fund consisted of (i) agreed-upon procedures
related to compliance with basic maintenance requirements</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">for auction preferred stock; and (ii) security counts required by Rule 17f-2 under the 1940
Act.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<SUP><FONT size=2 face="serif">4 </FONT></SUP><FONT size=2 face="serif">Services to the Fund consisted of (i) review or preparation
of U.S. federal, state, local and excise tax returns; (ii) U.S. fed-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">eral, state and local tax planning, advice and assistance regarding statutory, regulatory or administrative
developments; and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">(iii) tax advice regarding tax qualification matters and/or treatment of various financial instruments held
or proposed to be</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<FONT size=2 face="serif">acquired or held.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<SUP><FONT size=2 face="serif">5 </FONT></SUP><FONT size=2 face="serif">Rendered to the Fund and Service Affiliates.</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">6</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_8"></A>

<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Audit Committee Pre-Approval Policies and Procedures.
</FONT></I></B><FONT size=2 face="serif">Each Fund&#146;s audit committee has established policies and procedures (the
&#147;Policy&#148;) for pre-approval (within specified fee limits) of E&amp;Y&#146;s engagements for non-audit services to the Fund
and Service Affiliates without specific case-by-case consideration. Pre-approval considerations include whether the
proposed services are compatible with maintaining E&amp;Y&#146;s independence. Pre-approvals pursuant to the Policy are considered
annually.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Auditor Independence. </FONT></I></B><FONT size=2 face="serif">Each
Fund&#146;s audit committee has considered whether the provision of non-audit services that were rendered to Service
Affiliates which did not require pre-approval are compatible with maintaining E&amp;Y&#146;s independence.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">A representative of E&amp;Y is expected to be present at the meeting, will
have the opportunity to make a statement, and will be available to respond to appropriate questions.</FONT></P>
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">Service Providers</FONT></B><BR>
</TD></TR></TABLE>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Dreyfus, located at 200 Park Avenue, New York, New York 10166, serves as each
Fund&#146;s investment adviser. Mellon Trust of New England, N.A., an affiliate of Dreyfus, located at One Boston
Place, Boston, MA 02108, acts as Custodian for the assets of each Fund. PFPC Inc., located at 4400 Computer Drive, Westboro, MA
01581, acts as DSMB&#146;s Transfer Agent, Dividend-Paying Agent and Registrar; and The Bank of New York, located at P.O.
Box 11258, Church Street Station, New York, New York 10286, acts as DSM&#146;s Transfer Agent, Dividend-Paying Agent and
Registrar.</FONT></P>
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">Voting Information</FONT></B><BR>
</TD></TR></TABLE>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">To vote, please complete, date and sign the enclosed proxy card for each Fund
in which you hold shares and mail it in the enclosed, postage-paid envelope.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Each Fund will bear its pro rata share of the cost of soliciting proxies
based on the net assets of the Fund. In addition to the use of the mails, proxies may be solicited personally or by
telephone, and each Fund may pay persons holding shares of the Fund in their names or those of their nominees for their expenses in
sending soliciting materials to their principals. Authorizations to execute proxies may be obtained by fax, or by
telephonic instructions in accordance with procedures designed to authenticate the stockholder&#146;s identity. In all cases where a
telephonic proxy is solicited, the stockholder will be asked to provide his or her address and social security
number (in the case of an individual) or taxpayer identification number (in the case of a non-individual) and to confirm that the
stockholder has received the Fund&#146;s proxy statement and proxy card in the mail. Within 72 hours of receiving a
stockholder&#146;s solicited telephonic voting instructions, a confirmation will be sent to the stockholder to ensure that the vote
has been taken in accordance with the stockholder&#146;s instructions and to provide a telephone number to call
immediately if the stockholder&#146;s instructions are not correctly reflected in the confirmation. Shares represented by executed
and unrevoked proxies will be voted in accordance with the specifications made thereon, and if no voting instructions
are given, shares will be voted &#147;FOR&#148; the Proposals.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">If a proxy is properly executed and returned accompanied by instructions to
withhold authority to vote, represents a broker &#147;non-vote&#148; (that is, a proxy from a broker or nominee
indicating that such person has not received instructions from the beneficial owner or other person entitled to vote shares of the
Fund on a particular matter with respect to which the broker or nominee does not have discretionary power) or marked
with an abstention (collectively, &#147;abstentions&#148;), the Fund&#146;s shares represented thereby will be considered to be
present at the meeting for purposes of determining the existence of a quorum for the transaction of business. Under
Maryland law, abstentions do not constitute a vote &#147;for&#148; or &#147;against&#148; a matter and will be disregarded in
determining &#147;votes cast&#148; on an issue. </FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">OTHER MATTERS</FONT></B><BR>
</TD></TR></TABLE>
<P align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Neither Fund&#146;s Board is aware of any other matter which may come before
the meeting. However, should any such matter with respect to one or both Funds properly come before the meeting, it
is the intention of the persons named in the accompanying form of proxy to vote the proxy in accordance with their judgment on such
matter.</FONT></P>
<P align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Proposals that stockholders wish to include in a Fund&#146;s proxy statement
for the Fund&#146;s next Annual Meeting of Stockholders must be sent to and received by such Fund no later than
December 15, 2006 at the principal executive offices</FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">7</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_9"></A>

<P>
<FONT size=2 face="serif">of the Fund at 200 Park Avenue, New York, New York 10166, Attention: Secretary of the Fund. The date after
which notice of a stockholder proposal is considered untimely, except as otherwise permitted under applicable law,
is February 28, 2007.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Stockholders who wish to communicate with Directors should send
communications to the attention of the Secretary of the Fund, 200 Park Avenue, New York, New York 10166, and communications will
be directed to the Director or Directors indicated in the communication or, if no Director or Directors are indicated, to the
Chairman of the Board of Directors.</FONT></P>
<TABLE border=0 align="center" cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% nowrap>
<B><FONT size=2 face="serif">NOTICE TO BANKS, BROKER/DEALERS AND</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=100% nowrap>
<B><FONT size=2 face="serif">VOTING TRUSTEES AND THEIR NOMINEES</FONT></B>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Please advise, as appropriate, Dreyfus Strategic Municipals, Inc., in care of
The Bank of New York, Proxy Department, 101 Barclay Street, New York, New York 10286, or Dreyfus Strategic
Municipal Bond Fund, Inc., in care of PFPC Inc., P.O. Box 43027, Providence, RI 02940-3027, whether other persons are the beneficial
owners of the shares for which proxies are being solicited, and if so, the number of copies of the proxy statement
and other soliciting material you wish to receive in order to supply copies to the beneficial owners of shares.</FONT></P>
<P>
<B><FONT size=2 face="serif">IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY. THEREFORE, STOCKHOLDERS WHO DO NOT EXPECT TO ATTEND
THE MEETING IN PERSON ARE URGED TO COMPLETE, SIGN, DATE AND RETURN </FONT></B><B><U><FONT size=2 face="serif">EACH
</FONT></U></B><B><FONT size=2 face="serif">ENCLOSED PROXY CARD IN THE ENCLOSED STAMPED ENVELOPE.</FONT></B></P>
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">Dated: March 20, 2006</FONT><BR>
</TD></TR></TABLE>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">8</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_10"></A>



<A name="page_11"></A>

<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">EXHIBIT A</FONT></B><BR>
</TD></TR></TABLE>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">PART I</FONT><BR>
</TD></TR></TABLE>
<P align="right">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Part I sets forth information relevant to the Continuing Directors who are
not Nominees for election at this meeting, Board and committee meetings, and share ownership. Unless otherwise
indicated, the information set forth herein applies to both Funds.</FONT></P>
<P align="center">
<B><I><FONT size=2 face="serif">Continuing Class II Directors with Terms Expiring in 2007 for DSMB and 2008 for DSM</FONT></I></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The following table presents information about the Continuing Directors of
the Funds, including their principal occupations and other board memberships and affiliations. In addition to the
Continuing Directors listed below, Messrs. DiMartino, Carter and Leone are Class I Continuing Directors of DSM and Messrs. Burke,
Mautner and Zuccotti are Class III Continuing Directors of DSMB. The address of each Continuing Director is 200 Park
Avenue, New York, New York 10166. Each of the Fund&#146;s Continuing Directors will continue to serve as a Director of the Funds
after the meeting.</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">Name (Age) of Continuing Director</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<B><FONT size=2 face="serif">Principal Occupation</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<B><FONT size=2 face="serif">Other Board Memberships</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><U><FONT size=2 face="serif">Position with Fund (Since)</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<B><U><FONT size=2 face="serif">During Past 5 Years</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<B><U><FONT size=2 face="serif">and Affiliations</FONT></U></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">EHUD HOUMINER </FONT></B><FONT size=2 face="serif">(65)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">Executive-in-Residence at the</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Avnet Inc., an electronics</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">Class II Director of each Fund </FONT></B><FONT size=2 face="serif">(1994)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">Columbia Business School,</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">distributor, </FONT><I><FONT size=2 face="serif">Director</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">Columbia University</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">International Advisory</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">Principal of Lear, Yavitz and</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Board to the MBA</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">Associates, a management</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Program School of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">consulting firm</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Management, Ben</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Gurion University,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<I><FONT size=2 face="serif">Chairman</FONT></I>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Explore Charter School,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">Brooklyn, NY,</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<I><FONT size=2 face="serif">Chairman</FONT></I>&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=5>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">ROBIN A. MELVIN </FONT></B><FONT size=2 face="serif">(42)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">Director, Boisi Family foundation, a</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">Class II Director of each Fund </FONT></B><FONT size=2 face="serif">(1995)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">private family foundation that sup-</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">APS Designee for DSM </FONT></B><FONT size=2 face="serif">(2000)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">ports youth-serving organizations</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">APS Designee for DSMB </FONT></B><FONT size=2 face="serif">(1999)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">that promote the self sufficiency of</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">youth from disadvantaged circum-</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">stances</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=24% nowrap>
&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">A-1</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_12"></A>

<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The table below indicates the dollar range of each Continuing Director&#146;s
and Nominee&#146;s ownership of shares of each Fund&#146;s Common Stock and shares of other funds in the Dreyfus
Family of Funds for which he or she is a Board member, in each case as of December 31, 2005.</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=24% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<B><FONT size=2 face="serif">Aggregate Holding of</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<B><FONT size=2 face="serif">Funds in the</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<B><FONT size=2 face="serif">DSM</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<B><FONT size=2 face="serif">DSMB</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<B><FONT size=2 face="serif">Dreyfus Family of Funds</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<B><FONT size=2 face="serif">Name of Continuing</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<B><FONT size=2 face="serif">Common</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<B><FONT size=2 face="serif">Common</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<B><FONT size=2 face="serif">for which Responsible as</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<B><U><FONT size=2 face="serif">Director or Nominee</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<B><U><FONT size=2 face="serif">Stock</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<B><U><FONT size=2 face="serif">Stock</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<B><U><FONT size=2 face="serif">a Board Member</FONT></U></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">Ehud Houminer</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<FONT size=2 face="serif">Over $100,000</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">Robin A. Melvin</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<FONT size=2 face="serif">$1 &#150; $10,000</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">Joseph S. DiMartino*</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<FONT size=2 face="serif">$5,000</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<FONT size=2 face="serif">Over $100,000</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">Hodding Carter III*</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">Richard C. Leone*</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<FONT size=2 face="serif">$10,001 - $50,000</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<FONT size=2 face="serif">$1 - $10,000</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<FONT size=2 face="serif">Over $100,000</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">David W. Burke*</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<FONT size=2 face="serif">Over $100,000</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">Hans C. Mautner*</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<FONT size=2 face="serif">Over $100,000</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">John E. Zuccotti*</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
<FONT size=2 face="serif">None</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
<FONT size=2 face="serif">Over $100,000</FONT>&nbsp;
         </TD>
</TR>
<TR>
         <TD>
<HR noshade size=1>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
</TR>
<TR>
         <TD colspan=7>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=24% nowrap>
<FONT size=2 face="serif">* Nominee</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=27% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=19% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=23% nowrap>
&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">As of December 31, 2005, none of the Nominees or Continuing Directors or
their immediate family members owned securities of Dreyfus or any person (other than a registered investment company)
directly or indirectly controlling, controlled by or under common control with Dreyfus.</FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">A-2</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_13"></A>

<P align="center">
<B><FONT size=2 face="serif">PERTAINING TO THE BOARD OF EACH FUND</FONT></B></P>
<TABLE border=0 align="center" cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=1% nowrap>
<FONT face="serif">&#149;</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=96% nowrap>
<FONT size=2 face="serif">DSM held five Board meetings and DSMB held four Board meetings during its last fiscal year.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=1% nowrap>
<FONT size=2 face="serif">&#149;</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=96% nowrap>
<FONT size=2 face="serif">The Funds do not have a formal policy regarding Directors&#146; attendance at annual meetings of
stockholders.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=1% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=96% nowrap>
<FONT size=2 face="serif">Directors did not attend last year&#146;s annual meeting.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=1% nowrap>
<FONT face="serif">&#149;</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=96% nowrap>
<FONT size=2 face="serif">All Continuing Directors and Nominees attended at least 75% of all Board and committee meetings, as
applica-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=1% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=96% nowrap>
<FONT size=2 face="serif">ble, held in the last fiscal year.</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT size=2 face="serif">Compensation Table. </FONT></B><FONT size=2 face="serif">The aggregate
amount of compensation paid to each Continuing Director by DSMB for its fiscal year ended November 30, 2005, and by DSM
for its fiscal year ended September 30, 2005, and by all funds in the Dreyfus Family of Funds for which such Director was a Board
member (the number of portfolios of such funds is set forth in parenthesis next to each Director&#146;s total
compensation) for the year ended December 31, 2005, was as follows:</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=31% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
<B><FONT size=2 face="serif">Total</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
<B><FONT size=2 face="serif">compensation</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
<B><FONT size=2 face="serif">from each Fund and</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<B><FONT size=2 face="serif">Aggregate</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
<B><FONT size=2 face="serif">fund complex</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
<B><FONT size=2 face="serif">Name of Continuing</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<B><FONT size=2 face="serif">compensation</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
<B><FONT size=2 face="serif">paid to</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
<B><U><FONT size=2 face="serif">Director and Fund</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<B><U><FONT size=2 face="serif">from each Fund*</FONT></U></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
<B><U><FONT size=2 face="serif">Continuing Director (**)</FONT></U></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
<FONT size=2 face="serif">Ehud Houminer</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
<FONT size=2 face="serif">$103,750 (11)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">$4,581</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">$6,336</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
<FONT size=2 face="serif">Robin A. Melvin</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
<FONT size=2 face="serif">$43,000 (11)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
<FONT size=2 face="serif">DSMB</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">$4,183</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=31% nowrap>
<FONT size=2 face="serif">DSM</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=36% nowrap>
<FONT size=2 face="serif">$6,349</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=28% nowrap>
&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P>
<FONT size=2 face="serif">* Amount does not include the cost of office space, secretarial services and health benefits for the
chairman and expenses reimbursed to Board members attending Board meetings, which in the aggregate amounted to $3,301 for
DSM and $2,646 for DSMB for all Directors as a group.</FONT></P>
<P>
<FONT size=2 face="serif">** Represents the number of separate portfolios comprising the investment companies in the fund complex,
including the Funds, for which the Director serves as a Board member.</FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">A-3</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_14"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=100% colspan=9>
<FONT size=2 face="serif">PART II</FONT>
         </TD>
</TR>
<TR valign="bottom">
         <TD width=98% nowrap colspan=9>
<FONT size=2 face="serif">Part II sets forth information regarding the officers of each Fund.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap colspan=3>
<B><FONT size=2 face="serif">Name and Position</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<B><FONT size=2 face="serif">Principal Occupation and Business</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap colspan=3>
<B><FONT size=2 face="serif">with Funds (Since)</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
<B><FONT size=2 face="serif">Age</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<B><FONT size=2 face="serif">Experience For Past Five Years</FONT></B>&nbsp;
         </TD>
</TR>
<TR>
         <TD colspan=3>
<HR noshade size=1>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
<HR noshade size=1>
         </TD>
         <TD>
         </TD>
         <TD>
<HR noshade size=1>
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap colspan=5>
<B><FONT size=2 face="serif">STEPHEN E. CANTER</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap colspan=3>
<FONT size=2 face="serif">President (2000)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
<FONT size=2 face="serif">60</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Chairman of the Board, Chief Executive Officer</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">and Chief Operating Officer of Dreyfus, and an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">officer of 90 investment companies (comprised</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">of 184 portfolios) managed by Dreyfus. Mr.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Canter also is a Board Member and, where</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">applicable, Executive Committee Member of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">the other investment management subsidiaries</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">of Mellon Financial Corporation, each of which</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">is an affiliate of Dreyfus. He has been an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">employee of Dreyfus since May 1995.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
<B><FONT size=2 face="serif">STEPHEN R.</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
<B><FONT size=2 face="serif">BYERS</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
<FONT size=2 face="serif">Executive Vice</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
<FONT size=2 face="serif">President</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">(2002)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
<FONT size=2 face="serif">52</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Chief Investment Officer, Vice Chairman and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">a Director of Dreyfus, and an officer of 90</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">investment companies (comprised of 184 port-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">folios) managed by Dreyfus. Mr. Byers also is an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Officer, Director or an Executive Committee</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Member of certain other investment manage-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">ment subsidiaries of Mellon Financial</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Corporation, each of which is an affiliate of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Dreyfus. He has been an employee of Dreyfus</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">since January 2000.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap colspan=3>
<B><FONT size=2 face="serif">JOSEPH P. DARCY</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap colspan=3>
<FONT size=2 face="serif">Executive Vice President</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">(2000)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
<FONT size=2 face="serif">49</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Senior Portfolio Manager &#151; Dreyfus</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Municipal Securities and an officer of 1 other</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">investment company (comprised of 1 portfo-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">lio) managed by Dreyfus. He has been an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">employee of Dreyfus since May 1994.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap colspan=3>
<B><FONT size=2 face="serif">MARK N. JACOBS</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
<FONT size=2 face="serif">Vice President</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
<FONT size=2 face="serif">(2000)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
<FONT size=2 face="serif">59</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Executive Vice President, Secretary and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">General Counsel of Dreyfus, and an officer of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">91 investment companies (comprised of 200</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">portfolios) managed by Dreyfus. He has been</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">an employee of Dreyfus since June 1977.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap colspan=3>
<B><FONT size=2 face="serif">JAMES WINDELS</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=20% nowrap colspan=3>
<FONT size=2 face="serif">Treasurer (2001)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
<FONT size=2 face="serif">47</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Director &#151; Mutual Fund Accounting of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Dreyfus, and an officer of 91 investment com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">panies (comprised of 200 portfolios) managed</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">by Dreyfus. He has been an employee of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=11% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=7% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=18% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=41% nowrap>
<FONT size=2 face="serif">Dreyfus since April 1985.</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">A-4</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_15"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">Name and Position</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<B><FONT size=2 face="serif">Principal Occupation and Business</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">with Funds (Since)</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<B><FONT size=2 face="serif">Age</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<B><FONT size=2 face="serif">Experience For Past Five Years</FONT></B>&nbsp;
         </TD>
</TR>
<TR>
         <TD>
<HR noshade size=1>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
         </TD>
         <TD>
<HR noshade size=1>
         </TD>
         <TD>
         </TD>
         <TD>
<HR noshade size=1>
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">JOHN B. HAMMALIAN</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<FONT size=2 face="serif">Vice President and Assistant Secretary</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
<FONT size=2 face="serif">(2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">42</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Associate General Counsel of Dreyfus, and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">an officer of 91 investment companies (com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">prised of 200 portfolios) managed by Dreyfus.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">He has been an employee of Dreyfus since</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">February 1991.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">ROBERT R. MULLERY</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=39% nowrap colspan=3>
<FONT size=2 face="serif">Vice President and Assistant Secretary (2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">54</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Associate General Counsel of Dreyfus, and an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">officer of 91 investment companies (comprised</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">of 200 portfolios) managed by Dreyfus. He has</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">been an employee of Dreyfus since May 1986.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">JEFF PRUSNOFSKY</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<FONT size=2 face="serif">Vice President and Assistant Secretary</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
<FONT size=2 face="serif">(2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">40</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Associate General Counsel of Dreyfus, and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">an officer of 91 investment companies (com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">prised of 200 portfolios) managed by Dreyfus.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">He has been an employee of Dreyfus since</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">October 1990.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">ERIK D. NAVILOFF</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<FONT size=2 face="serif">Assistant Treasurer (2002)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">37</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Senior Account Manager &#151; Taxable Fixed</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Income Funds of Dreyfus, and an officer of 91</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">investment companies (comprised of 200 port-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">folios) managed by Dreyfus. He has been an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">employee of Dreyfus since November 1992.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">JAMES BITETTO</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<FONT size=2 face="serif">Vice President and Assistant Secretary</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
<FONT size=2 face="serif">(2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">39</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Assistant General Counsel and Assistant</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Secretary of Dreyfus, and an officer of 91</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">investment companies (comprised of 200</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">portfolios) managed by Dreyfus. He has been</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">an employee of Dreyfus since October 1996.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">JONI LACKS CHARATAN</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<FONT size=2 face="serif">Vice President and Assistant Secretary</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
<FONT size=2 face="serif">(2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">50</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Associate General Counsel of Dreyfus, and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">an officer of 91 investment companies (com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">prised of 200 portfolios) managed by Dreyfus.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">She has been an employee of Dreyfus since</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">October 1988.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">JOSEPH M. CHIOFFI</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<FONT size=2 face="serif">Vice President and Assistant Secretary</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
<FONT size=2 face="serif">( 2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">44</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Assistant General Counsel of Dreyfus, and an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">officer of 91 investment companies (com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">prised of 200 portfolios) managed by Dreyfus.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">He has been an employee of Dreyfus since</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">June 2000.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<B><FONT size=2 face="serif">JANETTE E. FARRAGHER</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
<FONT size=2 face="serif">Vice President and Assistant Secretary</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
<FONT size=2 face="serif">( 2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
<FONT size=2 face="serif">43</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">Associate General Counsel of Dreyfus, and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">an officer of 91 investment companies (com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">prised of 200 portfolios) managed by Dreyfus.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">She has been an employee of Dreyfus since</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=29% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=8% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=13% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=42% nowrap>
<FONT size=2 face="serif">February 1984.</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">A-5</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_16"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">Name and Position</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<B><FONT size=2 face="serif">Principal Occupation and Business</FONT></B>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">with Funds (Since)</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<B><FONT size=2 face="serif">Age</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<B><FONT size=2 face="serif">Experience For Past Five Years</FONT></B>&nbsp;
         </TD>
</TR>
<TR>
         <TD>
<HR noshade size=1>
         </TD>
         <TD>
         </TD>
         <TD>
<HR noshade size=1>
         </TD>
         <TD>
         </TD>
         <TD>
<HR noshade size=1>
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">MICHAEL A. ROSENBERG</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">Vice President and Secretary (2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">45</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Associate General Counsel of Dreyfus, and</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">an officer of 91 investment companies (com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">prised of 200 portfolios) managed by Dreyfus.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">He has been an employee of Dreyfus since</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">October 1991.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">GAVIN C. REILLY</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">Assistant Treasurer (2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">37</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Tax Manager of the Investment Accounting</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">and Support Department of Dreyfus, and an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">officer of 91 investment companies (com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">prised of 200 portfolios) managed by Dreyfus.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">He has been an employee of Dreyfus since</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">April 1991.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">ROBERT S. ROBOL</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">Assistant Treasurer (2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">41</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Senior Accounting Manager &#151; Money</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Market Funds of Dreyfus, and an officer of</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">91 investment companies (comprised of 200</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">portfolios) managed by Dreyfus. He has been</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">an employee of Dreyfus since October 1988.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">ROBERT SVAGNA</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">Assistant Treasurer (2005)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">38</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Senior Accounting Manager &#151; Equity Funds</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">of Dreyfus, and an officer of 91 investment</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">companies (comprised of 200 portfolios)</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">managed by Dreyfus. He has been an</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">employee of Dreyfus since November 1990.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<B><FONT size=2 face="serif">JOSEPH W. CONNOLLY</FONT></B>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
<FONT size=2 face="serif">Chief Compliance Officer (2004)</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
<FONT size=2 face="serif">48</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Chief Compliance Officer of Dreyfus and The</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Dreyfus Family of Funds (91 investment com-</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">panies, comprised of 200 portfolios). From</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">November 2001 through March 2004, Mr.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Connolly was first Vice-President, Mutual Fund</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Servicing for Mellon Global Securities Services.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">In that capacity, Mr. Connolly was responsible</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">for managing Mellon&#146;s Custody, Fund</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Accounting and Fund Administration services</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">to third-party mutual fund clients. Mr.</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Connolly has served in various capacities with</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">Dreyfus since 1980, including manager of the</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">firm&#146;s Fund Accounting Department from</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=35% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=17% nowrap>
&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=43% nowrap>
<FONT size=2 face="serif">1997 through October 2001.</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT size=2 face="serif">The address of each officer of the Funds is 200 Park Avenue, New York, New York 10166.</FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">A-6</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_17"></A>

<P>
<FONT size=2 face="serif">PART III</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Part III sets forth information for each Fund regarding the beneficial
ownership of its shares as of March 14, 2006 by Nominees, Continuing Directors and officers of the Fund owning shares on
such date and by any shareholders owning 5% or more of the Fund&#146;s outstanding shares. </FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">As of March 14, 2006 each Fund&#146;s Directors and officers, as a group,
owned less than 1% of the Fund&#146;s outstanding shares.</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">As of March 14, 2006, the following Directors and officers owned shares of
Common Stock of the Funds as indicated below:</FONT></P>
<TABLE><TR><TD nowrap>
<B><U><FONT size=2 face="serif">Directors</FONT></U></B><BR>
<FONT size=2 face="serif">None</FONT><BR>
</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<B><U><FONT size=2 face="serif">Officers</FONT></U></B><BR>
<FONT size=2 face="serif">None</FONT><BR>
</TD></TR></TABLE>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">To each Fund&#146;s knowledge, no person owned beneficially 5% or more of the
outstanding shares of Common Stock or the outstanding shares of APS of a Fund on March 14, 2006. Cede &amp; Co.
held of record approximately 88.74% and 90.76% of the outstanding Common Stock for DSM and DSMB, respectively, and 100% of the
outstanding shares of APS of each of DSM and DSMB.</FONT></P>
<P>
<B><FONT size=2 face="serif">Section 16(a) Beneficial Ownership Reporting Compliances</FONT></B></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">To each Fund&#146;s knowledge, all of its officers, Directors and holders of
more than 10% of its Common Stock or APS complied with all filing requirements under Section 16(a) of the Securities
Exchange Act of 1934, as amended, during the fiscal year ended September 30, 2005 for DSM and November 30, 2005 for DSMB. In making
this disclosure, each Fund has relied solely on written representations of such persons and on copies of reports that
have been filed with the Securities and Exchange Commission. The Fund believes that, during the fiscal year ended September 30, 2005,
all filing requirements applicable to such persons were complied with except that Thomas F. Eggers, who became the
President and a Director of Dreyfus on April 1, 2005 did not report on a timely basis in a Form 3 filing that he had no beneficial
interest in the Fund as of the date he was appointed President and Director of Dreyfus. However the failure to file
was subsequently reported on the appropriate Form during the fiscal year ended September 30, 2005.</FONT></P>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">A-7</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_18"></A>

<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">EXHIBIT B</FONT></B><BR>
</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">Dreyfus Strategic Municipals, Inc.</FONT><BR>
</TD></TR></TABLE>
<P align="right">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">November 22, 2005</FONT><BR>
</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">REPORT OF THE AUDIT COMMITTEE</FONT><BR>
</TD></TR></TABLE>
<P>
<FONT size=2 face="serif">The audit committee oversees the Fund&#146;s financial reporting process on behalf of the board of
directors. Management has the primary responsibility for the financial statements and the reporting process including the
systems of internal controls. In fulfilling its oversight responsibilities, the committee reviewed the audited financial statements
in the Annual Report with management including a discussion of the quality, not just the acceptability, of the
accounting principles, the reasonableness of significant judgments, and the clarity of disclosures in the financial statements.
</FONT></P>
<P>
<FONT size=2 face="serif">The committee reviewed with the independent registered public accounting firm (the &#147;independent
auditors&#148; or &#147;auditors&#148;), who are responsible for expressing an opinion on the conformity of those audited
financial statements with generally accepted accounting principles, their judgments as to the quality, not just the acceptability, of
the Fund&#146;s accounting principles and such other matters as are required to be discussed with the committee
under the standards of the Public Company Accounting Oversight Board (United States). In addition, the committee has discussed with
the independent auditors the auditors&#146; independence from management and the Fund including the auditor&#146;s
letter and the matters in the written disclosures required by the Independence Standards Board and considered the compatibility of
non-audit services with the auditors&#146; independence.</FONT></P>
<P>
<FONT size=2 face="serif">The committee discussed with the Fund&#146;s independent auditors the overall scope and plans for the
audit. The committee met with the independent auditors, with and without management present, to discuss the results of
their audits, their evaluations of the Fund&#146;s internal controls, and the overall quality of the Fund&#146;s financial reporting.
</FONT></P>
<P>
<FONT size=2 face="serif">In reliance on the reviews and discussions referred to above, the committee recommended to the board of
directors (and the board has approved) that the audited financial statements be included in the Annual Report to
Shareholders for the year ended September 30, 2005. </FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=50% nowrap>
<FONT size=2 face="serif">Richard C. Leone, Audit Committee Chair</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=47% nowrap>
<FONT size=2 face="serif">Ehud Houminer, Audit Committee Member</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=50% nowrap>
<FONT size=2 face="serif">David W. Burke, Audit Committee Member</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=47% nowrap>
<FONT size=2 face="serif">Hans C. Mautner, Audit Committee Member</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=50% nowrap>
<FONT size=2 face="serif">Hodding Carter III, Audit Committee Member</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=47% nowrap>
<FONT size=2 face="serif">Robin A. Melvin, Audit Committee Member</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=50% nowrap>
<FONT size=2 face="serif">Joseph S. DiMartino, Audit Committee Member</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=47% nowrap>
<FONT size=2 face="serif">John E. Zuccotti, Audit Committee Member</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">B-1</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_19"></A>

<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">EXHIBIT C</FONT></B><BR>
</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">Dreyfus Strategic Municipal Bond Fund, Inc.</FONT><BR>
</TD></TR></TABLE>
<P align="right">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">January 24, 2006</FONT><BR>
</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">REPORT OF THE AUDIT COMMITTEE</FONT><BR>
</TD></TR></TABLE>
<P>
<FONT size=2 face="serif">The audit committee oversees the Fund&#146;s financial reporting process on behalf of the board of
directors. Management has the primary responsibility for the financial statements and the reporting process including the
systems of internal controls. In fulfilling its oversight responsibilities, the committee reviewed the audited financial statements
in the Annual Report with management including a discussion of the quality, not just the acceptability, of the
accounting principles, the reasonableness of significant judgments, and the clarity of disclosures in the financial statements.
</FONT></P>
<P>
<FONT size=2 face="serif">The committee reviewed with the independent registered public accounting firm (the &#147;independent
auditors&#148; or &#147;auditors&#148;), who are responsible for expressing an opinion on the conformity of those audited
financial statements with generally accepted accounting principles, their judgments as to the quality, not just the acceptability, of
the Fund&#146;s accounting principles and such other matters as are required to be discussed with the committee
under the standards of the Public Company Accounting Oversight Board (United States). In addition, the committee has discussed with
the independent auditors the auditors&#146; independence from management and the Fund including the auditor&#146;s
letter and the matters in the written disclosures required by the Independence Standards Board and considered the compatibility of
non-audit services with the auditors&#146; independence.</FONT></P>
<P>
<FONT size=2 face="serif">The committee discussed with the Fund&#146;s independent auditors the overall scope and plans for the
audit. The committee meets with the independent auditors, with and without management present, to discuss the results of
their examinations, their evaluations of the Fund&#146;s internal controls, and the overall quality of the Fund&#146;s financial
reporting. </FONT></P>
<P>
<FONT size=2 face="serif">In reliance on the reviews and discussions referred to above, the committee recommended to the board of
directors (and the board has approved) that the audited financial statements be included in the Annual Report to
Shareholders for the year ended November 30, 2005.</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
         <TD width=50% nowrap>
<FONT size=2 face="serif">Richard C. Leone, Audit Committee Chair</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=47% nowrap>
<FONT size=2 face="serif">Ehud Houminer, Audit Committee Member</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=50% nowrap>
<FONT size=2 face="serif">David W. Burke, Audit Committee Member</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=47% nowrap>
<FONT size=2 face="serif">Hans C. Mautner, Audit Committee Member</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=50% nowrap>
<FONT size=2 face="serif">Hodding Carter III, Audit Committee Member</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=47% nowrap>
<FONT size=2 face="serif">Robin A. Melvin, Audit Committee Member</FONT>&nbsp;
         </TD>
</TR>
<TR valign="bottom">
         <TD width=50% nowrap>
<FONT size=2 face="serif">Joseph S. DiMartino, Audit Committee Member</FONT>&nbsp;
         </TD>
         <TD width=2%>
&nbsp;   </TD>
         <TD width=47% nowrap>
<FONT size=2 face="serif">John E. Zuccotti, Audit Committee Member</FONT>&nbsp;
         </TD>
</TR>
</TABLE><BR>
<P align="center">
<TABLE><TR><TD nowrap>
<FONT size=2 face="serif">C-1</FONT><BR>
</TD></TR></TABLE>

<HR noshade align="center" width="100%" size=2>


<A name="page_20"></A>





<TABLE><TR><TD width=5>&nbsp;</TD><TD nowrap>
<FONT face="serif">Please mark Boxes in blue or black ink.</FONT><BR>
</TD></TR></TABLE>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=100% nowrap>
<FONT face="serif">1. Election of Directors</FONT>&nbsp;
        </TD>
</TR>
<TR>
        <TD>
&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% nowrap>
<FONT face="serif">_ FOR ALL Nominees listed below (except as marked to the contrary)</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% nowrap>
<FONT face="serif">_ WITHHOLD Authority For All Nominees</FONT>&nbsp;
        </TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=57% nowrap>
<FONT face="serif">Nominees are: Class III &#150;</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=40% nowrap>
<FONT face="serif">David W. Burke</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=57% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=40% nowrap>
<FONT face="serif">Hans C. Mautner</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=57% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=40% nowrap>
<FONT face="serif">John E. Zuccotti</FONT>&nbsp;
        </TD>
</TR>
</TABLE><BR>
<P>
<FONT face="serif">_ WITHHOLD authority only for those Nominee(s) whose name(s) I have written below</FONT></P>
<P>
<FONT face="serif">______________________________________________________________________________</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD nowrap valign=top>
<FONT face="serif">2.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD>
<FONT face="serif">In their discretion, the proxies are authorized to vote upon such other business as may properly come before the meeting, or any adjournment(s) thereof.</FONT>      </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P>
<FONT face="serif">THIS PROXY IS SOLICITED BY THE FUND'S BOARD OF DIRECTORS AND WILL BE VOTED FOR THE ABOVE PROPOSALS UNLESS OTHERWISE INDICATED.</FONT></P>
<P>
<FONT face="serif">Signature(s) should be exactly as name or names appearing on this proxy. If shares are held jointly, each holder should sign. </FONT></P>
<P>
<FONT face="serif">If signing is by attorney, executor, administrator, trustee or guardian, please give full title.</FONT></P>
<TABLE><TR><TD width=5>&nbsp;</TD><TD nowrap>
<FONT face="serif">Dated:<BR>_____________________<BR>, 2006</FONT><BR>
</TD></TR></TABLE>
<TABLE><TR><TD width=5>&nbsp;</TD><TD nowrap>
<FONT face="serif"> ___________________________________</FONT><BR>
<FONT face="serif">Signature(s)</FONT><BR>
</TD></TR></TABLE>
<TABLE><TR><TD width=5>&nbsp;</TD><TD nowrap>
<FONT face="serif">___________________________________</FONT><BR>
<FONT face="serif">Signature(s) </FONT><BR>
</TD></TR></TABLE>
<P>
<FONT face="serif">Sign, Date and return the Proxy Card Promptly using the Enclosed Envelope</FONT></P>

<HR noshade align="center" width="100%" size=2>




<P align="center">
<FONT size=4 face="serif">DREYFUS STRATEGIC MUNICIPALS, INC.</FONT></P>
<P>
<FONT face="serif">The undersigned stockholder of Dreyfus Strategic Municipals, Inc. (the &#147;Fund&#148;) hereby appoints Robert R. Mullery and Joni L. Charatan and each of them, the attorneys and proxies of the undersigned, with full power of
substitution, to vote, as indicated herein, all of the shares of the Fund standing in the name of the undersigned at the close of business on March 14, 2006 at the Annual Meeting of Stockholders to be held at the offices of The Dreyfus Corporation,
200 Park Avenue, 7</FONT><SUP><FONT face="serif">th</FONT></SUP><FONT face="serif"> Floor, New York, New York, commencing at 10:00 a.m. on Thursday, May 18, 2006; and at any and all adjournments thereof, with all of the powers the undersigned would
possess if then and there personally present and especially (but without limiting the general authorization and power hereby given) to vote as indicated on the proposals, as more fully described in the Proxy Statement for the meeting.</FONT></P>
<P>
<FONT face="serif"> FOLD AND DETACH HERE </FONT></P>

<HR noshade align="center" width="100%" size=2>




<P align="center">
<B><FONT face="serif">DREYFUS STRATEGIC MUNICIPALS, INC.</FONT></B></P>
<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT face="serif">IMPORTANT</FONT></B><BR>
</TD></TR></TABLE>

<TABLE border=0 align="center" cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=100%>
<B><FONT face="serif">Please Act Promptly</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% nowrap>
<B><FONT face="serif">Sign, Date and Mail your Proxy Card(s) Today.</FONT></B>&nbsp;
        </TD>
</TR>
</TABLE><BR>
<P>
<FONT face="serif">No matter how many shares you own, your vote is important. Voting can also help the Fund save money. To hold a meeting, a quorum must be represented. Voting today can save the Fund the expense of another solicitation for proxies
required to achieve a quorum. </FONT></P>
<P>
<FONT face="serif">Please note that if you hold more than one account in the Fund, a proxy card will be sent to you for each of your accounts. You should sign and return each proxy card in order for all votes to be counted. </FONT></P>
<P>
<FONT face="serif">Thank you for your interest in the Fund.</FONT></P>

<HR noshade align="center" width="100%" size=2>







<TABLE><TR><TD nowrap>
<FONT face="serif">Please mark Boxes in blue or black ink.</FONT><BR>
</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<FONT face="serif">1.</FONT><FONT face="sans-serif"> </FONT><FONT face="serif">Election of Directors</FONT><BR>
</TD></TR></TABLE>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=100% nowrap>
<FONT face="serif">_ FOR ALL Nominees (except as marked to the contrary)</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% nowrap>
<FONT face="serif">_ WITHHOLD Authority For All Nominees</FONT>&nbsp;
        </TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=45% nowrap>
<FONT face="serif">Nominees are: Class I &#150;</FONT>&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=52% nowrap>
<FONT face="serif">William Hodding Carter III</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=45% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=52% nowrap>
<FONT face="serif">Joseph S. DiMartino</FONT>&nbsp;
        </TD>
</TR>
<TR valign="bottom">
        <TD width=45% nowrap>
&nbsp;
        </TD>
        <TD width=2%>
&nbsp;  </TD>
        <TD width=52% nowrap>
<FONT face="serif">Richard C. Leone</FONT>&nbsp;
        </TD>
</TR>
</TABLE><BR>
<P>
<FONT face="serif">_ WITHHOLD authority only for those Nominee(s) whose name(s) I have written below</FONT></P>
<P>
<FONT face="serif">______________________________________________________________________________</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD nowrap valign=top>
<FONT face="serif">2.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD>
<FONT face="serif">In their discretion, the proxies are authorized to vote upon such other business as may properly come before the meeting, or any adjournment(s) thereof.</FONT>      </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P>
<FONT face="serif">THIS PROXY IS SOLICITED BY THE FUND'S BOARD OF DIRECTORS AND WILL BE VOTED FOR THE ABOVE PROPOSALS UNLESS OTHERWISE INDICATED.</FONT></P>
<P>
<FONT face="serif">Signature(s) should be exactly as name or names appearing on this proxy. If shares are held jointly, each holder should sign. </FONT></P>
<P>
<FONT face="serif">If signing is by attorney, executor, administrator, trustee or guardian, please give full title.</FONT></P>
<TABLE><TR><TD nowrap>
<FONT face="serif">Dated:<BR>_____________________<BR>, 2006</FONT><BR>
</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<FONT face="serif"> ___________________________________</FONT><BR>
<FONT face="serif">Signature(s)</FONT><BR>
</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<FONT face="serif">___________________________________</FONT><BR>
<FONT face="serif">Signature(s) </FONT><BR>
</TD></TR></TABLE>
<P>
<FONT face="serif">Sign, Date and return the Proxy Card Promptly using the Enclosed Envelope</FONT></P>

<HR noshade align="center" width="100%" size=2>




<P align="center">
<FONT size=4 face="serif">DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.</FONT></P>
<P>
<FONT face="serif">The undersigned stockholder of Dreyfus Strategic Municipal Bond Fund, Inc. (the &#147;Fund&#148;) hereby appoints Robert R. Mullery and Joni L. Charatan and each of them, the attorneys and proxies of the undersigned, with full
power of substitution, to vote, as indicated herein, all of the shares of the Fund standing in the name of the undersigned at the close of business on March 14, 2006 at the Annual Meeting of Stockholders to be held at the offices of The Dreyfus
Corporation, 200 Park Avenue, 7</FONT><SUP><FONT face="serif">th</FONT></SUP><FONT face="serif"> Floor, New York, New York, commencing at 10:00 a.m. on Thursday, May 18, 2006; and at any and all adjournments thereof, with all of the powers the
undersigned would possess if then and there personally present and especially (but without limiting the general authorization and power hereby given) to vote as indicated on the proposals, as more fully described in the Proxy Statement for the
meeting.</FONT></P>
<P>
<FONT face="serif"> FOLD AND DETACH HERE </FONT></P>

<HR noshade align="center" width="100%" size=2>



<P align="center">
<B><FONT face="serif">DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.</FONT></B></P>
<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT face="serif">IMPORTANT</FONT></B><BR>
</TD></TR></TABLE>

<TABLE border=0 align="center" cellspacing=1 cellpadding=0>
<TR valign="bottom">
        <TD width=100%>
<B><FONT face="serif">Please Act Promptly</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% nowrap>
<B><FONT face="serif">Sign, Date and Mail your Proxy Card(s) Today.</FONT></B>&nbsp;
        </TD>
</TR>
</TABLE><BR>
<P>
<FONT face="serif">No matter how many shares you own, your vote is important. Voting can also help the Fund save money. To hold a meeting, a quorum must be represented. Voting today can save the Fund the expense of another solicitation for proxies
required to achieve a quorum. </FONT></P>
<P>
<FONT face="serif">Please note that if you hold more than one account in the Fund, a proxy card will be sent to you for each of your accounts. You should sign and return each proxy card in order for all votes to be counted. </FONT></P>
<P>
<FONT face="serif">Thank you for your interest in the Fund.</FONT></P>

<HR noshade align="center" width="100%" size=2>










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