NOTES TO FINANCIAL STATEMENTS
The Fund has an unused capital loss carryover of approximately $1,594,000 available for Federal income tax
purposes to be applied against future net securities profits, if any, realized subsequent to September 30, 1997. If
not applied, the carryover expires in fiscal 2004.
NOTE 2-BANK LINE OF CREDIT:
The Fund participates with other Dreyfus-managed funds in a $100 million unsecured line of credit primarily to be
utilized for temporary or emergency purposes. Interest is charged to the Fund at rates which are related to the
Federal Funds rate in effect at the time of borrowings. For the period ended September 30, 1997, the Fund did
not borrow under the line of credit.
NOTE 3-MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES:
(a) Pursuant to a management agreement ("Agreement") with the Manager, the management fee is computed at
the annual rate of .75 of 1% of the value of the Fund's average weekly net assets and is payable monthly. The
Agreement provides for an expense reimbursement from the Manager should the Fund's aggregate expenses,
exclusive of taxes, interest on borrowings, brokerage and extraordinary expenses, in any full fiscal year exceed
the lesser of (1) the expense limitation of any state having jurisdiction over the Fund or (2) 2% of the first $10
million, 11\2% of the next $20 million and 1% of the excess over $30 million of the average value of the Fund's
net assets. There was no expense reimbursement for the period ended September 30, 1997.
(b) The Fund compensates Boston Safe Deposit and Trust Company, an affiliate of the Manager, under a
custody agreement to provide custodial services to the Fund. During the period ended September 30, 1997, the
Fund was charged $50,872 pursuant to the custody agreement.
(c) Each director who is not an "affiliated person" as defined in the Act receives from the Fund an annual fee of
$4,500 and an attendance fee of $500 per meeting. The Chairman of the Board receives an additional 25% of