Morningstar Advisor - Fall 2007 - (Page 5)

DREYFUS PREMIER STRATEGIC VALUE FUND Dreyfus Premier Strategic Value Fund is a lot like your most discerning clients: value-oriented, research-driven, risk-aware and always looking for a timely opportunity. � Seeks to invest in undervalued companies with sound fundamentals and strong business momentum. managers from Dreyfus and The Boston Company Asset Management LLC (TBCAM) oversee the fund. TBCAM is a Dreyfus affiliate. fund’s investment process is geared toward identifying undervalued securities using a bottom-up fundamental stockpicking process. to a Dreyfus Investments Representative at 1-800-334-6899 to learn more. � Portfolio �� Class C Shares: DCGVX Class A Shares (load-waived) Class A Shares: DAGVX Morningstar Overall Ratings™ as of 7/31/07. Ratings reflect risk-adjusted performance and are derived from a weighted average of the fund’s 3-, 5- and 10-year (as applicable) Ratings. In the Morningstar Large Value Funds category for the 3- and 5-year periods, Class C shares received 4 and 5 stars among 1,104 and 839 funds, respectively; and for the 3-, 5- and 10-year periods, Class A shares (loadwaived) received 4, 5 and 3 stars, and (not load-waived) received 3, 4 and 2 stars among 1,104, 839 and 391 funds, respectively.* � The � Talk Ratings reflect past performance of the fund, which is no guarantee of future results. Share price and investment return fluctuate and an investor’s shares may be worth more or less than original cost upon redemption. Go to Dreyfus.com for the fund’s most recent month-end returns. Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. Call Dreyfus Investments at 1-800-334-6899 to obtain a prospectus that contains this and other information about the fund, and read it carefully before investing. *Source: Morningstar, Inc. The Ratings formula measures the amount of variation in a fund’s performance and gives more emphasis to downward variations. Ratings are subject to change every month. The top 10% of the funds in the category receive 5 stars; the next 22.5% 4 stars; the next 35% 3 stars; the next 22.5% 2 stars; and the last 10% 1 star. Equity securities are subject generally to market, market sector, market liquidity, issuer and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund’s prospectus. TBCAM is a wholly owned subsidiary of The Bank of New York Mellon Corporation and an affiliate of The Dreyfus Corporation. The portfolio managers manage the fund pursuant to a dual employee arrangement, applying TBCAM’s proprietary investment processes to the fund. Dreyfus Investments is a division of MBSC Securities Corporation. Dreyfus.com | 1-800-334-6899 © 2007 Dreyfus Service Corporation, Distributor http://Dreyfus.com http://Dreyfus.com http://Dreyfus.com

Table of Contents Feed for the Digital Edition of Morningstar Advisor - Fall 2007

Morningstar Advisor Fall 2007 Features Departments Letter from the Editor Inbox 10 Years After: Developing Markets Make Progress Research Briefs Investors Should Adjust Their Home Bias Few Mutual Funds Exhibit Serial Correlation Valuating ETFs, the Equity Analyst's Way It’s All About Location See the World (Differently) The Return of the Global Flexible Investor Map of International Value Sound as a Loonie? Fair Exchange In Their Own Worlds A Good Read Putting Their Heads Together Buying Protection Scoping Out Easy-to-Use Funds Finding Good Stewards Consumer Firms Go Global Mutual Fund Analyst Picks Undervalued Stocks Most Popular Variable Annuities New at Morningstar The Whole Wide World

Morningstar Advisor - Fall 2007

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