NOTE 1--Significant Accounting Policies:
Dreyfus U.S. Treasury Long Term Fund (the "fund") is registered under the Investment Company Act of 1940,
as amended (the "Act"), as a diversified open-end management investment company. The fund's investment
objective is to provide investors with as high a level of current income as is consistent with the preservation of
capital. The Dreyfus Corporation (the "Manager") serves as the fund' s investment adviser. The Manager is a
direct subsidiary of Mellon Bank, N.A. ("Mellon"). Premier Mutual Fund Services, Inc. is the distributor of the
fund's shares, which are sold to the public without a sales charge.
The fund' s financial statements are prepared in accordance with generally accepted accounting principles which
may require the use of management estimates and assumptions. Actual results could differ from those estimates.
(a) Portfolio valuation: Investments in securities (excluding short-term investments other than U.S. Treasury Bills)
are valued each business day by an independent pricing service (" Service" ) approved by the Board of Trustees.
Investments for which quoted bid prices are readily available and are representative of the bid side of the market
in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service
from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the
market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried
at fair value as determined by the Service, based on methods which include consideration of: yields or prices of
securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general
market conditions. Short-term investments, excluding U.S. Treasury Bills, are carried at amortized cost, which
(b) Securities transactions and investment income: Securities transactions are recorded on a trade date ba