DREYFUS CALIFORNIA MUNICIPAL INCOME, INC.
                        DREYFUS MUNICIPAL INCOME, INC.
                    DREYFUS NEW YORK MUNICIPAL INCOME, INC.
                    ---------------------------------------

                   NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
                    ---------------------------------------

To the Stockholders:

    The  Annual  Meeting of Stockholders of each of Dreyfus California Municipal
Income,  Inc.,  Dreyfus  Municipal  Income,  Inc. and Dreyfus New York Municipal
Income, Inc. (each, a "Fund" and, collectively, the "Funds") will be held at the
offices  of  The Dreyfus Corporation, 200 Park Avenue, 7th Floor West, New York,
New York, on Friday, May 23, 2003 at 10:00 a.m., for the following purposes:

    1.  To elect three Class I Directors to serve for a three-year term for each
        Fund and until their successors are duly elected and qualified.


    2.  With respect to Dreyfus Municipal Income, Inc. only, to approve a change
        to the fundamental  investment  policies and investment  restrictions of
        Dreyfus Municipal Income, Inc. to permit the Fund to engage in swap
        transactions.


    3.  To approve a change to the fundamental investment policies and
        investment restrictions  of  each  Fund  to  expand  the  Fund's
        ability to invest in other investment companies.

    4.  To transact such other business as may properly come before the meeting,
        or  any adjournment or adjournments thereof.

    Stockholders  of  record  at the close of business on March 21, 2003 will be
entitled to receive notice of and to vote at the meeting.

                                               By Order of the Board

                                               Robert R. Mullery

                                               Assistant Secretary

New York, New York

April 18, 2003

                            WE NEED YOUR PROXY VOTE

A STOCKHOLDER MAY THINK HIS OR HER VOTE IS NOT IMPORTANT, BUT IT IS VITAL.  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.



(PAGE)

                   DREYFUS CALIFORNIA MUNICIPAL INCOME, INC.

                        DREYFUS MUNICIPAL INCOME, INC.

                    DREYFUS NEW YORK MUNICIPAL INCOME, INC.

                           COMBINED PROXY STATEMENT
                   ------------------------------------------

                        ANNUAL MEETING OF STOCKHOLDERS

                      TO BE HELD ON FRIDAY, MAY 23, 2003

    This  proxy  statement  is  furnished  in  connection with a solicitation of
proxies  by  the  Board  of  each  of  Dreyfus California Municipal Income, Inc.
(" DCMI"), Dreyfus Municipal Income, Inc. ("DMI") and Dreyfus New York Municipal
Income,  Inc.  (" DNYMI" ) (each, a "Fund" and, collectively, the "Funds") to be
used  at  the  Annual Meeting of Stockholders of each Fund to be held on Friday,
May  23,  2003  at  10: 00  a.m.,  at  the  offices  of  The Dreyfus Corporation
(" Dreyfus" ), 200  Park  Avenue,  7th  Floor  West, 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 21, 2003 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  any 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  more  than one Fund complete, date, sign and
return  each  proxy  card  they  receive.  Shares  represented  by  executed and
unrevoked  proxies  will  be  voted  in  accordance with the specifications made
thereon. If the 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 cancelling any
proxy  previously  given.  As  of  March 21, 2003, the Funds had outstanding the
following number of shares:


                                   COMMON                     AUCTION PREFERRED
NAME OF FUND                   STOCK OUTSTANDING               STOCK OUTSTANDING

                                                               
DCMI                              4,572,972                          N/A

DMI                              20,393,571                         4,000

DNYMI                             3,821,501                          N/A


    It  is  estimated  that  proxy  materials  will be mailed to stockholders of
record  on or about April 18, 2003. The principal executive offices of each Fund
are  located at 200 Park Avenue, New York, New York 10166. COPIES OF EACH FUND'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.

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'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. DMI is the only Fund with two classes
of capital stock: Common Stock, par value $0.001 per share ( the "Common Stock")
,  and  Auction  Preferred  Stock,  par  value  $0.001  per  share,  liquidation
preference $25,000 per share (the "APS"). The APS is further divided into Series
A  and  Series  B.  Currently,  no  proposal  is expected to be presented at the
meeting that would require separate voting for each Series of APS.

(PAGE)


                       PROPOSAL 1: ELECTION OF DIRECTORS

    Each  Fund' 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  three  Class  I  Directors to serve for
three-year  terms  and  until  their  respective successors are duly elected and
qualified.  The  individual  nominees (the "Nominees") proposed for election are
listed  below.  Each  Nominee  currently serves as a Director of the Funds. Each
Nominee  has  consented to being named in this proxy statement and has agreed to
continue  to  serve  as  a  Board  member  of each Fund if elected. Biographical
information  about  each  Nominee  is  set forth below. Biographical information
about  each  Fund' s  Continuing  Directors,  information  on each Nominee's and
Continuing Director's ownership of Fund shares and other relevant information is
set forth on Exhibit A. Unless otherwise indicated, information set forth herein
applies    to    all    Funds.

    Under  the  terms  of  DMI' 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  of  DMI.  As  such Directors, the APS holders elected Whitney I.
Gerard in May 2001 as a Class II Director whose term expires in 2004, and George
L.  Perry  in  May  2002  as  a  Class  III Director whose term expires in 2005.
Currently, there are no APS designees proposed for election at this meeting.

    Voting  with  regard  to  the  election  of  Directors  will  be as follows:
stockholders  of  DCMI  and  DNMI  will vote with regard to the election of each
Class  I  Director  for each such Fund; for DMI, holders of Common Stock and APS
will  vote together as a single class with respect to the election of each Class
I Director for such Fund.

    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 Board member 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.

None of the Nominees or Continuing Directors are "interested persons" of any
of  the Funds, as defined in the Investment Company Act of 1940, as amended (the
" 1940  Act" ). 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.




(PAGE 2)



      DMI, DCMI AND DNYMI -- NOMINEES FOR CLASS I DIRECTOR WITH TERM EXPIRING IN 2006


NAME (AGE) OF NOMINEE                  PRINCIPAL OCCUPATION                     OTHER BOARD MEMBERSHIPS
POSITION WITH FUND (SINCE)             DURING PAST 5 YEARS                      AND AFFILIATIONS

                                                                          
LUCY WILSON BENSON  (75)               President of Benson & Associates,        The International Executive
CLASS I DIRECTOR OF EACH FUND (1988)   consultants to business and government   Services Corps., DIRECTOR
                                       (1980 - present)                         Citizens Network for
                                                                                Foreign Affairs, VICE CHARIMAN
                                                                                Council on Foreign
                                                                                Relations, MEMBER
                                                                                Lafayette College Board of
                                                                                Trustees, VICE CHAIRMAN EMERITUS

DAVID W. BURKE  (66)                   Corporate Director and Truste            John F. Kennedy Library
CLASS I DIRECTOR OF EACH FUND  (1994)                                           Foundation, DIRECTOR
                                                                                U.S.S. Constitution
                                                                                Museum, DIRECTOR

CLIFFORD L. ALEXANDER, JR.  (69)       President of Alexander & Associates,     Wyeth (formerly, American
CLASS I DIRECTOR OF EACH FUND  (2003)  Inc., a management consulting firm       Home Products Corporation),
                                       (January 1981 - present)                 a global leader in pharmaceuticals,
                                       Chairman of the Board of Moody's         consumer healthcare products and
                                       Corporation (October 2000 - present)     animal health products, DIRECTOR
                                       Chairman of the Board and Chief          Mutual of America Life
                                       Executive Officer of The Dun and         Insurance Company, DIRECTOR
                                       Brandstreet Corporation (October 1999 -
                                       September 2000)


    Each  Fund  has standing audit, nominating and compensation committees, each
comprised  of  its  Directors  who  are not "interested persons" of the Fund, as
defined  in  the 1940 Act. The function of the audit committee is to oversee the
Fund' s financial and reporting policies and certain internal control matters. A
copy  of  each  Fund' s  Audit  Committee  Charter,  which  describes  the audit
committee' s purposes, duties and powers, is attached as Exhibit C to this proxy
statement.  The  function  of the nominating committee is to select and nominate
all  candidates who are not "interested persons" of the Fund for election to the
Fund' s  Board.  The  nominating  committee  does not normally consider nominees
recommended  by  stockholders.  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's investments. Each
Fund' s  audit committee met four times, and each Fund's pricing, nominating and
compensation committees did not meet during the Fund's last fiscal year.

    Each  Fund  Director also serves as a director of other funds in the Dreyfus
fund  complex. Effective January 1, 2003, each Fund typically pays its Directors
its  allocated  portion of an annual retainer of $60,000 and a fee of $7,500 per
meeting  (with a minimum of $500 per meeting and per telephone meeting) attended
for  the  Fund  and  16  other funds (comprised of 41 portfolios) in the Dreyfus
Family  of  Funds,  and  reimburses them for their expenses. The Chairman of the
Board  of  Directors,  Joseph  S.  DiMartino, receives an additional 25% of such
compensation.  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
Board members. The Funds had no Emeritus







(PAGE 3)

Directors as of the date of this proxy statement. The Funds do not pay any other
remuneration  to  their  officers  or Board members, and none of the Funds has a
bonus, pension, profit-sharing or retirement plan.

    The  aggregate  amount of compensation paid to each Nominee by each Fund for
the fiscal year ended September 30, 2002 under the compensation schedule then in
effect  for the Funds, and 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's total compensation) for the year
ended December 31, 2002, was as follows:



                                AGGREGATE               AGGREGATE                AGGREGATE              TOTAL COMPENSATION FROM
                            COMPENSATION FROM       COMPENSATION FROM        COMPENSATION FROM        THE FUNDS AND FUND COMPLEX

                                                                                             
NAME OF NOMINEE                   DMI*                    DCMI*                   DNYMI*                 PAID TO NOMINEES (**)

Lucy Wilson Benson               $1,910                  $1,198                  $172                       $130,500 (34)

David W. Burke                   $1,900                   $697                   $170                       $258,250 (60)

Clifford L. Alexander, Jr.***      N/A                     N/A                    N/A                       $134,500 (27)


------------------------------------

*   Amount does not include reimbursed expenses for attending Board meetings,
    which  amounted  to  $2,393,  $1,834  and  $1,395  for  DMI,  DCMI  and
    DNYMI, respectively, for all Board members as a group.

**  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.

*** Mr. Alexander was elected a Board member of each Fund effective  January 1,
    2003;  accordingly,  he received no compensation  from any of the Funds for
    the fiscal year ended September 30, 2002.



    For  each  Fund's most recent fiscal year, the number of Board meetings held
and  the  aggregate  amount  of compensation paid by the Fund to each Continuing
Director  and  by all funds in the Dreyfus Family of Funds for which such person
is  a  Board  member  are  set  forth  in  Exhibit  A. Certain other information
concerning each Fund's Directors and officers also is set forth in Exhibit A.

REQUIRED VOTE

    The  election  of a Nominee for each Fund requires the affirmative vote of a
plurality of votes cast at the Fund's meeting for the election of Directors.


     PROSPOSAL 2 (DMI ONLY):  TO PERMIT THE FUND TO ENGAGE IN SWAP  TRANSACTIONS

     DMI seeks to achieve its  investment  goal by investing at least 80% of its
assets  (except when  maintaining a temporary  defensive  position) in municipal
bonds that provide income exempt from federal income taxes ("Municipal  Bonds").
From time to time,  on a  temporary  basis  other than for  temporary  defensive
purposes (but not to exceed 20% of the Fund's assets) or for temporary defensive
purposes,  the Fund may  invest  in  taxable  short-term  instruments  ("Taxable
Investments").  As a fundamental  policy, DMI may invest only in Municipal Bonds
And  Taxable  Investments  as  described  in its  prospectus.  The Fund  also is
permitted to engage in futures and options  transactions to the extent described
in its prospectus.


     Management  believes that in a rapidly changing market it is
important  for the Fund to have greater  flexibility  in the types of investment
techniques in which it is permitted to engage. Accordingly,  this proposal seeks
approval to expand the Fund's investment techniques to permit the Fund to engage
in swap transactions,  including interest rate swaps, interest rate locks, caps,
collars  and  floors  (collectively,  "swap  transactions"),  which are forms of
derivatives. By expanding the universe of investment techniques in which DMI may
engage  Specifically to include swap transactions,  management will be given the
Opportunity  to adjust the  Fund's  portfolio  from time to obtain a  particular
return when it is considered  desirable to do so,  possibly at a lower cost than
if the Fund had  invested  directly in the  securities  that yielded the desired
return. Morever, having the ability to engage in swap transactions would provide
the Fund with an additional means to manage interest rate risk. Management
intends to usw swap tranactions to mitigate risk, manage duration and reduce
portfolio turnover.  Management does not intend to increase either Fund's risk
profile by using these derivatives.

     To enable DMI to broaden its permissible investment techniques as described
above, the Fund's Board approved eliminating the restrictive  fundamental policy
and  investment  restriction  of the Fund and  directed  that this  Proposal  be
submitted to stockholders for their approval.  The recommended  change also will
provide flexibility to respond to future legal, regulatory,  market or technical
changes.

     Specifically,  this  Proposal  involves  eliminating  the  restriction
limiting DMI's  investments to Municipal Bonds and Taxable  Investments,  making
conforming  changes to  certain  other  restrictions,  and  changing  the Fund's
investment  techniques to permit the Fund to engage in swap  transactions.  This
Proposal  does NOT  involve  any  change  to  DMI's  investment  objective,  the
requirement that, as a fundamental  policy,  the Fund invest at least 80% of its
assets in Municipal Bonds or the limitations on purchasing Taxable  Investments.
Swap transactions will be subject to the Fund's limits on investments in Taxable
Investments.

      If approved by DMI's stockholders, the Fund would be permitted, but
not required,  to enter into swap  transactions.  Swap  agreements are two-party
contracts entered into primarily by institutional  investors for periods ranging
from a few  weeks to more  than a year.  In a  standard  swap  transaction,  two
parties  agree to exchange  the returns  (or  differentials  in rates of return)
earned or realized on particular predetermined investments or instruments, which
may be adjusted  for an interest  factor.  The gross  returns to be exchanged or
"swapped"  between  the  parties  generally  are  calculated  with  respect to a
"notional  amount"  (i.e.,  the return on or increase  in value of a  particular
dollar amount invested at a particular  interest rate). Under the commonest form
of interest rate swap, a series of payments  calculated by applying a fixed rate
of interest to a notional principal amount is exchanged for a stream of payments
similarly  calculated  but  using  a  floating  rate  of  interest.  This  is  a
fixed-for-floating  interest rate swap. Alternatively,  both series of cashflows
to be  exchanged  could be  calculated  using  floating  rates of  interest  but
floating rates that are based upon different  underlying  indices.  Depending on
their structure, swap agreements may increase or decrease the Fund's exposure to
changes in long- or short-term  interest rates. Forms of swap agreements include
interest rate caps,  under which,  in return for a premium,  one party agrees to
make payments to the other to the extent  interest rates exceed a specified rate
or "cap";  interest rate floors, under which, in return for a premium, one party
agrees to make payments to the other to the extent  interest  rates fall below a
specified level or "floor"; and interest rate collars, under which a party sells
a cap and  purchases  a floor or vice  versa in an  attempt  to  protect  itself
against interest rate movements  exceeding given minimum or maximum levels.  The
use of these types of  derivatives  involves  risks  different  from or possibly
greater than, the risks  associated  with  investing  directly in the underlying
assets. Derivatives can be highly volatile, illiquid and difficult to value, and
there is the risk that  changes  in the value of a  derivative  held by the Fund
will not correlate with the Fund's performance.  For more detailed discussion of
these investment techniques and their related risks, see Exhibit B to this proxy
statement.

     DMI's Board has  determined  to  recommend  that the Fund's  current
investment restriction which prohibits the Fund from purchasing securities other
than Municipal  Bonds and Taxable  Investments,  as set forth below, be deleted.


     ["Purchase  securities other than municipal  obligations and Taxable
Investments or as provided in Investment  Restriction (No. 6 with respect to
DSM; Nos. 7 and 12 with respect to DSMB) or otherwise in the Fund's
Prospectus."] * * *


VOTE REQUIRED AND THE BOARD'S RECOMMENDATION

    With respect to DMI, approval of this Proposal requires the affirmative vote
of  (a)  67% of the Fund's outstanding voting securities present at the meeting,
if  the holders of more than 50% of the Fund's outstanding voting securities are
present  or represented by proxy, or (b) more than 50% of the Fund's outstanding
voting securities, whichever is less.

THE BOARD OF DMI RECOMMENDS THAT STOCKHOLDERS OF DMI VOTE  "FOR" THE FOREGOING
                                   PROPOSAL.

PROPOSAL  3:   TO  EXPAND  THE  FUNDS'  ABILITY  TO  INVEST  IN OTHER INVESTMENT
COMPANIES

    Most  of the funds in the Dreyfus Family of Funds, including the Funds, have
the  ability  to  invest in securities issued by other investment companies. The
Funds,  however,  are  limited  by  their fundamental policies in the amount and
circumstances  under  which  such  investments  may  be  made. Each Fund's Board
recommends that stockholders approve a change to the Fund's fundamental policies
to  permit the Fund to invest in the securities of other investment companies to
the extent

(PAGE 5)


    permitted  under  the  1940  Act,  as  described below, and make such policy
non-fundamental.  Non-fundamental policies may be changed by the Fund's Board at
any time without stockholder approval.

    Generally,  if  the  changes are approved by stockholders, the Fund would be
able  to  invest  its  uninvested  cash  or,  if it participated in a securities
lending  program  operated  by  Mellon Bank, N.A., Dreyfus' parent company, cash
collateral received from borrowers of the Fund's portfolio securities, in shares
of  one  or  more  money  market  funds  advised  by Dreyfus as described below


     Under  the  1940  Act,  a  Fund's  investment  in the  securities  of other
investment companies, subject to certain exceptions, currently is limited to (i)
3% of the  total  voting  stock of any one  investment  company,  (ii) 5% of the
Fund's total assets with respect to any one investment  company and (iii) 10% of
the Fund's total assets in the aggregate. The Securities and Exchange Commission
(the  "SEC")  has  granted an  Exemptive  Order to the Funds and  Dreyfus  which
generally permits each Dreyfus-managed fund to use cash collateral received from
borrowers of the fund's portfolio securities, and any other uninvested cash held
by the fund, to purchase shares of one or more institutional  money market funds
advised by Dreyfus in excess of the percentage  limitations  imposed by the 1940
Act on investments in other  investment  companies.  While granting  relief from
such limitations for both the investment of cash collateral and other uninvested
cash,  the  Exemptive  Order does require that a fund not invest its  uninvested
cash (monies  totally  separate and apart from any cash  collateral  received in
connection with the securities lending program) in other investment companies in
excess of 25% of its  total  assets.  To obtain a copy of the SEC  notice of the
request for the Exemptive  Order  (Investment  Company Act Release No.  IC-25099
(August 29, 2001)) or the Exemptive  Order  (Investment  Company Act Release No.
25141 (August 28, 2001)), please e-mail your request to  publicinfo@sec.gov,  or
write to the SEC's Public Reference Section, Washington, DC 20549-0102.


    Investments  in  the  securities  of  other investment companies may involve
duplication  of advisory fees and other expenses. With respect to the management
fees  to  be  earned  by Dreyfus in connection with the investment of one fund's
uninvested cash, totally separate and apart from the securities lending program,
in  another  Dreyfus  fund,  Dreyfus  will reduce the management fee charged the
first fund by the amount of the fee it earns in the second fund. For example, if
uninvested cash from a fund where Dreyfus is earning a 0.75% management fee were
to  be  invested  in  a  money  market  fund  where  Dreyfus  is earning a 0.20%
management fee, Dreyfus would reduce its fee charged to the fund on those assets
by 0.20%.

    Currently,  the  Funds  may  not  purchase  securities  of  other investment
companies except (a) in the open market where no commissions except the ordinary
broker's commissions are paid, which purchases are limted to a maximum of (i) 3%
of  the  total voting stock of any one investment company, (ii) 5% of the Fund's
net  assets  with  respect  to  any  one investment company and (iii) 10% of the
Fund' s  net assets in the aggregate, or (b) those received as part of a merger,
sale    of    assets    or    consolidation.

    If  approved  by  the  respective  Fund' s stockholders, each Fund's current
fundamental  policy  with  respect  to  investing  in  the  securities  of other
investment  companies  would  be replaced in its entirety with a non-fundamental
policy  that  could  be  changed by the Fund's Board members at any time without
stockholder approval. The non-fundamental policy would read as follows:

    " The Fund may not purchase securities of other investment companies, except
to the extent permitted under the 1940 Act."

VOTE REQUIRED AND THE BOARD'S RECOMMENDATION

    With   respect  to  each  Fund,  approval  of  this  Proposal  requires  the
affirmative  vote of (a) 67% of the Fund's outstanding voting securities present
at the meeting, if the holders of more than 50% of the Fund's outstanding voting
securities  are  present  or  represented  by proxy, or (b) more than 50% of the
Fund's outstanding voting securities, whichever is less.

 THE BOARD OF EACH FUND RECOMMENDS THAT STOCKHOLDERS VOTE "FOR" THE FOREGOING
                                   PROPOSAL.

                            ADDITIONAL INFORMATION

SELECTION OF INDEPENDENT AUDITORS

The 1940 Act requires that each Fund's independent auditors be selected by a
majority  of those Directors who are not "interested persons" (as defined in the
1940  Act)  of  the  Fund.  One  of  the  purposes  of the audit committee is to
recommend

(PAGE 6)


to  the  Fund' s  Board  the  selection, retention or termination of independent
auditors  for the Fund. At a meeting held on November 7, 2002, each Fund's audit
committee  recommended  and  each  Fund' s  Board, including a majority of those
Directors  who  are not "interested persons" of the Fund, approved the selection
of  Ernst  & Young  LLP  as  the Fund's independent auditors for the fiscal year
ending  September  30, 2003. Ernst & Young LLP, a major international accounting
firm,  has  acted  as auditors of each Fund since the Fund's organization. After
reviewing  the  Fund' s  audited  financial statements for the fiscal year ended
September  30, 2002, each Fund's audit committee recommended to the Fund's Board
that  such statements be included in the Fund's Annual Report to stockholders. A
copy of the committee's report is attached as Exhibit D to this proxy statement

    AUDIT  FEES. For the fiscal year ended September 30, 2002, Ernst & Young LLP
billed  DCMI,  DMI  and  DNYMI  $24,900,  $28,900 and $22,500, respectively, for
services  rendered  in connection with the annual audit of each Fund's financial
statements.  No  audit  fees  were paid directly by Dreyfus or its affiliates to
Ernst & Young LLP during such period.

FINANCIAL INFORMATION SYSTEMS DESIGN AND IMPLEMENTATION FEES. For the fiscal
year ended September 30, 2002, no professional services were rendered by Ernst &
Young  LLP  to the Funds relating to financial systems design and implementation
services.  For  the  fiscal year ended September 30, 2002, Ernst & Young LLP did
not provide any management consulting services to Dreyfus or its affiliates.

    AUDIT-RELATED  FEES.  For  the  fiscal  year  ended  September 30, 2002, the
aggregate  fees  for audit-related services rendered by Ernst & Young LLP to the
Funds  amounted  to  $4,500,  $20,500  and  $4,500  for  DCMI,  DMI  and  DNYMI,
respectively.  Such  services  provided were security counts required by the SEC
and agreed upon procedures relating to DMI's APS.

    ALL  OTHER FEES. For the fiscal year ended September 30, 2002, the aggregate
fees  for  professional  services  rendered  by  Ernst & Young LLP for all other
services  provided to the Funds amounted to $2,500 for each Fund relating to the
review of each Fund's income tax returns.

For the fiscal year ended September 30, 2002, Dreyfus paid Ernst & Young LLP
was paid approximately $75,000 for tax consulting services.

    The  audit  committee  for  each  Fund  considered  the compatibility of any
non-audit services with Ernst & Young LLP's independence.

    A  representative  of  Ernst  & Young  LLP  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.

SERVICE PROVIDERS

    Dreyfus,  located  at  200  Park Avenue, New York, New York 10166, serves as
each    Fund'   s    investment    adviser.

    Mellon  Bank,  N.A.,  Dreyfus'  parent,  located  at One Mellon Bank Center,
Pittsburgh,  Pennsylvania  15258, acts as Custodian for the assets of each Fund.
Mellon  Bank,  N.A.,  located at 85 Challenger Road, Ridgefield Park, New Jersey
07660, acts as each Fund's Transfer Agent, Dividend-Paying Agent and Registrar.

VOTING INFORMATION


     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.
Each Fund has retained Georgeson Shareholder Communications, Inc. ("Georgeson"),
17 State Street,  New York, NY 10004,  to assist in the  solicitation of proxies
primarily by contacting stockholders by telephone, which will cost approximately
$40,000,  such cost to be borne pro rata among the Funds based on the net assets
of the Funds. As the meeting date approaches,  certain  stockholders may receive
telephone calls from  representatives  of Georgeson if their votes have not been
received.  Authorization  to permit Georgeson to execute proxies may be obtained
by  telephonic  instructions  from  stockholders  of the Funds.  For  additional
information  regarding the proxy or to obtain a replacement  proxy card,  please
contact Georgeson toll-free at (866)801-3357.  Authorizations to execute proxies
may  be  obtained  by fax  or by  telephonic  instructions  in  accordance  with
procedures  designed to authenticate the  stockholder'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's proxy statement and proxy card in
the mail.  Within 72 hours of  receiving a  stockholder'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's  instructions
and to  provide a  telephone  number to call  immediately  if the  stockholder'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 "FOR" the Proposals.  If a proxy is properly executed and returned
accompanied by instructions to withhold  authority to vote,  represents a broker
"non-vote"  (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,  "  abstentions"  ), the  Fund'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 "for" or "against" a matter
and will be  disregarded  in  determining  "votes  cast" on an  issue.  For this
reason,  abstentions  will have the  effect of a "no"  vote for the  purpose  of
obtaining requisite approval for Proposal 2 or Proposal 3.


    If  a  quorum  is  not present at the meeting, or if a quorum is present but
sufficient  votes  to  approve  Proposal  2  or Proposal 3 are not received, the
persons  named as proxies may propose one or more adjournments of the meeting to
permit  further  solicitation  of  proxies  with  respect  to  such Proposal. In
determining  whether  to  adjourn  the  meeting,  the  following  factors may be
considered:  the  nature  of  the  Proposal,  the  percentage of favorable votes
actually cast, the percentage of negative votes actually cast, and the nature of
any further solicitation. Any adjournment will require the affirmative vote of a
majority of those shares affected by the adjournment that are represented at the
meeting  in  person  or  by  proxy. If a quorum is present, the persons named as
proxies  will  vote  those  proxies  which  they  are entitled to vote "FOR" the
Proposal  in  favor of such adjournment, and will vote those proxies required to
be voted "AGAINST" the Proposal against any adjournment.

                                 OTHER MATTERS

    No  Fund' s  Board  is  aware  of any other matter which may come before the
meeting.  However,  should  any  such  matter  with respect to one or more 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.

    Proposals  that stockholders wish to include in a Fund's proxy statement for
the  Fund' s next Annual Meeting of Stockholders must be sent to and received by
such  Fund no later than December 12, 2003 at the principal executive offices of
the  Fund  at  200  Park  Avenue,  New  York, New York 10166, Attention: General
Counsel.  The  date  after  which notice of a stockholder proposal is considered
untimely,  except  as  otherwise permitted under applicable law, is February 25,
2004.

                      NOTICE TO BANKS, BROKER/DEALERS AND

                      VOTING TRUSTEES AND THEIR NOMINEES

    Please  advise the appropriate Fund, in care of Mellon Bank, N.A., c/o Proxy
Services  Corporation,  115 Amity Street, Jersey City, New Jersey 07304, 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.

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 EACH ENCLOSED PROXY CARD IN THE ENCLOSED STAMPED ENVELOPE.


Dated: April 18, 2003



(PAGE 8)


                                   EXHIBIT A

                                    PART I

Part I sets forth information regarding 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 all Funds.

      DMI, DCMI AND DNYMI -- CONTINUING CLASS II AND CLASS III DIRECTORS

        WITH TERMS EXPIRING IN 2004 FOR CLASS II AND 2005 FOR CLASS III


    The  following table presents informatioin about the Continuing Directors of
the Funds, including their principal occupations and other board memberships and
affiliations.  The  address  of each Continuing Director is 200 Park Avenue, New
York,  New  York 10166. Each of the Fund's Continuing Directors will continue to
serve as a Director of the Funds after the meeting.




NAME (AGE) OF CONTINUING DIRECTOR      PRINCIPAL OCCUPATION                  OTHER BOARD MEMBERSHIPS
POSITION WITH FUND (SINCE)             DURING PAST 5 YEARS                   AND AFFILIATIONS

                                                                       
JOSEPH S. DIMARTINO  (59)              Corporate Director and Trustee        The Muscular Dystrophy
CHAIRMAN OF THE BOARD OF                                                     Association, DIRECTOR
EACH FUND (1995                                                              Levcor International, Inc.,
CLASS III DIRECTOR OF                                                        an apparel fabric processor, DIRECTOR
EACH FUND (1995)                                                             Century Business Services,
                                                                             Inc., a provider of outsourcing
                                                                             functions for small and medium size
                                                                             companies, DIRECTOR
                                                                             The Newark Group, a
                                                                             provider of a national market of
                                                                             paper recovery facilities, paperboard
                                                                             mills and paperboard converting plants, DIRECTOR

GEORGE L. PERRY  (69)                   Economist and Senior Fellow at       State Farm Mutual Auto-
CLASS III DIRECTOR OF                   Brookings Institution                mobile Association, DIRECTOR
EACH FUND (1989)                                                             State Farm Life Insurance
APS DESIGNEE FOR DMI (2002)                                                  Company, DIRECTOR

WHITNEY I. GERARD  (68)                 Partner of Chadbourne & Parke LLP    None
CLASS II DIRECTOR OF EACH FUND  (1988)
APS DESIGNEE FOR DMI  (2000)


ARTHUR A. HARTMAN  (77)                 Chairman of First NIS Regional       APCO Associates Inc.,
CLASS II DIRECTOR OF EACH FUND (1989)   Fund (ING/Barings Management) and    SENIOR CONSULTANT
                                        New Russia Fund
                                        Advisory Member Council to Barings,
                                        Vostok




                                      A-1

(PAGE A-1)


The table below indicates the dollar range of each Continuing Director's and
Nominee' s  ownership  of shares of each Fund'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, 2002.


                                   DMI                    DCMI                    DNYMI              AGGREGATE    HOLDING    OF
NAME OF CONTINUING               COMMON                  COMMON                  COMMON                   FUNDS IN THE
DIRECTOR OR NOMINEE               STOCK                   STOCK                   STOCK              DREYFUS FAMILY OF FUNDS
                                                                                             
Joseph S. DiMartino               None                    None                    None                    Over $100,000
George L. Perry                   None                    None                    None                        None
Whitney I. Gerard                 None                    None                    None                    Over $100,000
Arthur A. Hartman                 None                    None                    None                        None
Lucy Wilson Benson*               None                    None                    None                    Over $100,000
David W. Burke*                   None                    None                    None                    Over $100,000
Clifford L. Alexander, Jr.*       None                    None                    None                        None


------------------------------------

       * Nominee.

    As  of  December  31,  2002, 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.

                     PERTAINING TO THE BOARD OF EACH FUND

*   DMI held nine Board meetings,  DCMI held ten Board  meetings,  DNYMI held
    eight Board meetings and each Fund held four audit  committee  meetings,
    during the last fiscal year.



*  All  Continuing  Directors  and  Nominees (who were Directors at the time)
   attended  at  least 75% of all Board and committee meetings, as applicable,
   held in the last fiscal year.

   COMPENSATION  TABLE.  The  aggregate  amount  of  compensation  paid  to each
Continuing  Director  by  each Fund for the fiscal year ended September 30, 2002
and  by  all  funds  in  the  Dreyfus  Family of Funds for which such Continuing
Director was a Board member (the number of portfolios of such funds is set forth
in  parenthesis  next  to each Director's total compensation) for the year ended
December 31, 2002, was as follows:




                                AGGREGATE               AGGREGATE              AGGREGATE               TOTAL COMPENSATION FROM
NAME OF                     COMPENSATION FROM       COMPENSATION FROM      COMPENSATION FROM         THE FUNDS AND FUND COMPLEX
CONTINUING DIRECTOR               DMI*                    DCMI*                 DNYMI*            PAID TO CONTINUING DIRECTOR (**)
                                                                                                      
Joseph S. DiMartino              $2,389                  $874                    $212                       $815,938 (191)
George L. Perry                  $1,910                  $1,198                  $172                       $78,500 (16)
Whitney I. Gerard                $1,910                  $1,198                  $172                       $79,000 (16)
Arthur A. Hartman                $1,900                  $1,197                  $170                       $78,500 (16)


------------------------------------

*    Amount does not include  reimbursed  expenses for attending Board meetings,
     which  amounted  to $2,393,  $1,834  and  $1,395  for DMI,  DCMI and DNYMI,
     respectively, for all Board members as a group.

**   Represents  the number of separate  portfolios  comprising  the  investment
     companies in the fund  complex,  including  the Funds,  for which the Board
     member serves.




                                      A-2

(PAGE A-2)


                                    PART II

    Part II sets forth information relevant to the officers of each Fund.


NAME AND POSITION                                PRINCIPAL OCCUPATION AND BUSINESS
WITH FUNDS (SINCE)                AGE            EXPERIENCE FOR PAST FIVE YEARS

                                           
STEPHEN E. CANTER
President  (2000)                 57             Chairman  of  the  Board, Chief
                                                 Executive  Officer  and Chief Operating
                                                 Officer of Dreyfus, and an officer of 94
                                                 investment  companies  (comprised  of  186
                                                 portfolios)  managed by Dreyfus. Mr.
                                                 Canter  also  is  a  Board  Member and,
                                                 where applicable, an Executive Committee
                                                 Member  of  the  other  investment  management
                                                 subsidiaries of Mellon Financial
                                                 Corporation, each of which is an affiliate of Dreyfus.

STEPHEN R. BYERS
Executive Vice President (2002)   49             Chief  Investment Officer, Vice Chairman
                                                 and a  Director  of Dreyfus, and an
                                                 officer  of  94  investment  companies  (comprised
                                                 of 186 portfolios) managed by Dreyfus. Mr. Byers also
                                                 is an Officer, Director or an Executive Committee Member
                                                 of   certain  other  investment  management  subsidiaries
                                                 of  Mellon  Financial Corporation, each of which is an
                                                 affiliate of Dreyfus. Prior to joining Dreyfus,
                                                 he  served  as  an  Executive  Vice President - Capital
                                                 Markets, Chief Financial Officer and Treasurer at Gruntal
                                                 & Co., LLC.

MARK N. JACOBS
Vice President (2000)              56            Executive   Vice   President, General  Counsel  and
                                                 Secretary  of  Dreyfus,  and  an officer of 95 investment
                                                 companies (comprised of 202 portfolios) managed by Dreyfus.

JAMES WINDELS
Treasurer (2001)                   44            Director    -    Mutual    Fund Accounting  of  Dreyfus, and
                                                 an officer of 95 investment companies (comprised of 202 portfolios)
                                                 managed by Dreyfus.

PAUL DISDIER
Executive Vice President (2000)-   47            Director  of  Dreyfus Municipal Securities, and Dreyfus
                                                 California Municipal Income, Inc.an    officer   of  three
                                                 investment companies (comprised of three portfolios) managed by
                                                 Dreyfus.

JOSEPH P. DARCY
Executive Vice President (2000)-   46            Senior   Portfolio   Manager  - Dreyfus Municipal
Dreyfus Municipal Income, Inc.                   Securities,  and  an officer of one investment company
                                                 (comprised of one portfolio) managed by Dreyfus.

                                      A-3

(PAGE A-3)


NAME AND POSITION                                PRINCIPAL OCCUPATION AND BUSINESS
WITH FUNDS (SINCE)                 AGE           EXPERIENCE FOR PAST FIVE YEARS

MONICA S. WIEBOLDT

Executive Vice President (2000) -  53            Senior   Portfolio   Manager  - Dreyfus Municipal
Dreyfus New York Municipal Income, Inc.          Securities,  and  an officer of
                                                 one investment company (comprised of one portfolio)
                                                 managed by Dreyfus.

MICHAEL A. ROSENBERG
Secretary (2000)                   43            Associate  General  Counsel  of Dreyfus, and an officer
                                                 of 93 investment companies (comprised of 198 portfolios)
                                                 managed by Dreyfus.

STEVEN F. NEWMAN
Assistant Secretary (2000)         53            Associate  General  Counsel and Assistant  Secretary  of
                                                 Dreyfus,  and  an  officer  of 95 investment companies
                                                 (comprised of 202 portfolios) managed by Dreyfus.

ROBERT R. MULLERY
Assistant Secretary (2000)         51            Associate  General  Counsel  of Dreyfus,  and an officer
                                                 of 26 investment companies (comprised of 64 portfolios)
                                                 managed by Dreyfus.

JEFF PRUSNOFSKY
Assistant Secretary (2003)         37            Associated  General  Counsel of Dreyfus,  and an officer
                                                 of 23 investment companies (comprised of 82 portfolios)
                                                 managed    by    Dreyfus.

GREGORY S. GRUBER
Assistant Treasurer (2000)         44            Senior   Accounting  Manager  -  Municipal  Bond  Funds  of
                                                 Dreyfus,  and  an officer of 29 investment companies
                                                 (comprised of 58 portfolios) managed by Dreyfus.

KENNETH J. SANDGREN
Assistant Treasurer (2001)         48            Mutual  Funds  Tax  Director of Dreyfus, and an officer of
                                                 95 investment companies (comprised of 201 portfolios)
                                                 managed by Dreyfus.

WILLIAM GERMENIS
Anti-Money Laundering Compliance   32            Vice  President  and Anti-Money Laundering
Officer (2002)                                   Compliance  Officer  of Dreyfus Service  Corporation,  a
                                                 wholly-owned subsidiary of Dreyfus, and the Anti-Money
                                                 Laundering  Compliance  Office  of  90  investment
                                                 companies  (comprised of 197 portfolios)  managed  by
                                                 Dreyfus.  He  has  been an employee of Dreyfus Service
                                                 Corporation since October 1998.

The  address of each officer of the Funds is 200 Park Avenue, New York, New York 10166.


                                      A-4

(PAGE A-4)


                                   PART III

    Part  III  sets  forth  information  for  each Fund regarding the beneficial
ownership  of  its shares as of March 21, 2003 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's outstanding shares.


    As  of March 21, 2003, each Fund's Directors and officers, as a group, owned
less  than  1%  of  the  Fund' s outstanding shares. As of March 21, 2003, the
following  Directors  and  officers owned shares of common stock of the Funds as
indicated below:






DIRECTORS                                   DMI                             DCMI                               DNYMI

                                                                                                        
Joseph S. DiMartino                       14,000                              0                                  0

OFFICERS

None



    To  each  Fund' s  knowledge, no person owned beneficially 5% or more of the
outstanding shares of Common Stock of a Fund or the outstanding shares of APS on
March  21, 2003. Cede & Co. held of record approximately 87%, 90% and 85% of the
outstanding  Common  Stock of DMI, DCMI and DNYMI, respectively, and 100% of the
outstanding shares of APS of DMI.

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCES

To each Fund'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, 2002. 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.


                                      A-5

(PAGE A-5)


                                   EXHIBIT B

    If  Proposal  2  is  approved,  DMI  would  be  permitted to enter into swap
transactions, as described below.

    Swaps,  Interest Rate Locks, Caps, Collars and Floors. DMI proposes to enter
into  interest rate swaps and interest rate locks and purchase and sell interest
rate caps, collars and floors. Swap transactions, including interest rate swaps,
interest  rate  locks,  caps, collars and floors, may be individually negotiated
and include exposure to a variety of different interest rates. Swaps involve two
parties exchanging a series of cash flows at specified intervals. In the case of
an  interest  rate  swap,  the  parties exchange interest payments based upon an
agreed  upon  principal amount (referred to as the "notional principal amount").
Under  the  most  basic scenario, Party A would pay a fixed rate on the notional
principal  amount  to  Party  B,  which  would  pay  a floating rate on the same
notional  principal  amount  to Party A. Swap agreements can take many forms and
are known by a variety of names.

    In  a typical cap or floor agreement, one party agrees to make payments only
under  specified  circumstances,  usually  in return for payment of a fee by the
other party. For example, the buyer of an interest rate cap obtains the right to
receive  payments  to  the  extent  that  a  specified  interest rate exceeds an
agreed-upon  level,  while  the seller of an interest rate floor is obligated to
make  payments  to  the  extent  that  a  specified interest rate falls below an
agreed-upon level. An interest rate collar combines elements of buying a cap and
selling a floor.

In a typical interest rate lock transaction, if Party A desires to lock in a
particular  interest rate on a given date it may enter into an agreement to pay,
or  receive  a  payment from, Party B based on the yield of a reference index or
security, such as a Treasury Bond. At the maturity of the term of the agreement,
one  party  makes  a  payment  to  the other party as determined by the relative
change  in  the  yield of the reference security or index. An interest rate lock
transaction  may  be terminated prior to its stated maturity date by calculating
the  payment  due  as  of the termination date, which generally differs from the
make-whole  provisions  for  an  early  termination  of  an  interest  rate swap
transaction  in  which  the party terminating the swap early is required to give
its counterparty the economic benefit of the transaction.

    DMI  would  set aside cash or permissible liquid assets to cover its current
obligations  under  swap  transactions. If DMI enters into a swap agreement on a
net  basis  (that  is,  the  two  payment  streams are netted out, with the Fund
receiving  or  paying,  as  the  case  may  be,  only  the net amount of the two
payments) , the  Fund  would  maintain  cash or permissible liquid assets with a
daily  value  at  least  equal  to  the  excess,  if  any, of the Fund's accrued
obligations  under  the  swap  agreement  over  the  accrued  amount the Fund is
entitled  to  receive  under  the  agreement.  If  DMI were to enter into a swap
agreement  on other than a net basis, enter into an interest rate lock agreement
or  write  a  cap, collar or floor, it would maintain cash or permissible liquid
assets  with  a value equal to the full amount of the Fund's accrued obligations
under the agreement.

    The  most  important  factor in the performance of a swap agreement would be
the  change  in the specific interest rate or other factor(s) that determine the
amounts  of  payments  due  to  and  from a fund. If a swap agreement called for
payments  by  a  fund,  the fund would have to be prepared to make such payments
when  due.  In  addition,  if  the counterparty's creditworthiness declines, the
value of a swap agreement would likely decline, potentially resulting in losses

    The  Funds  would enter into interest rate swaps, interest rate locks, caps,
collars and floors only with banks and recognized securities dealers believed by
Dreyfus  to  present  minimal credit risks. If there were a default by the other
party  to  such  transaction  DMI would have to rely on its contractual remedies
(which may be limited by bankruptcy, insolvency or similar laws) pursuant to the
agreement relating to the transaction.

    Depending  on  the  circumstances,  gains  from  a  swap transaction will be
treated  either  as ordinary income or as short- or long-term capital gains. The
Fund currently intends to enter into swap transactions on a "forward settlement"
basis  (settlement  set  out  several months) and to close-out such transactions
before  the  settlement  date.  This methodology should result in there being no
exchange  of  income  and, therefore, no taxable income to report. Any principal
gain or loss at settlement would be a capital gain or loss.

                                      B-1

(PAGE B-1)


                                   EXHIBIT C
                            AUDIT COMMITTEE CHARTER
                                  for each of
                   DREYFUS CALIFORNIA MUNICIPAL INCOME, INC.
                        DREYFUS MUNICIPAL INCOME, INC.
                    DREYFUS NEW YORK MUNICIPAL INCOME, INC.
                               (each, a "Fund")

1. The  Audit  Committee  shall  consist of at least three members and shall be
composed entirely of independent directors in accordance with the American Stock
Exchange  rules ("AMEX rules"), all of whom shall be able to read and understand
fundamental  financial  statements,  including a company's balance sheet, income
statement,  and  cash  flow  statement  or  will  become  able to do so within a
reasonable  period  of time after his or her appointment to the Audit Committee.
Additionally,  at  least  one  member  must  have  past employment experience in
finance  or  accounting,  requisite professional certification in accounting, or
any  other comparable experience or background which results in the individual's
financial  sophistication,  including  being  or  having  been a chief executive
officer,  chief  financial  officer  or  other  senior  officer  with  financial
oversight responsibilities.

2. The purposes of the Audit Committee are:

(a)  to oversee the Fund's  accounting  and  financial  reporting  policies  and
     practices, its internal controls and, as appropriate, the internal controls
     of certain service providers;

(b) to  oversee  the  quality  and  objectivity  of  the  Fund's financial
    statements and the independent audit thereof; and

(c) to act as a liaison between the Fund's independent auditors and the full
    Board of Directors.

    The  function of the Audit Committee is oversight.  The Fund's management is
responsible  for  (i)  the preparation, presentation and integrity of the Fund's
financial  statements,  (ii)  the  maintenance  of  appropriate  accounting  and
financial  reporting  principles  and  policies  and  (iii)  the  maintenance of
internal  controls  and procedures designed to assure compliance with accounting
standards  and  applicable  laws  and  regulations.   The  outside  auditors are
responsible  for  planning  and  carrying  out  a  proper audit and reviews.  In
fulfilling  their  responsibilities  hereunder, it is recognized that members of
the  Audit Committee are not full-time employees of the Fund and are not, and do
not represent themselves to be, accountants or auditors by profession or experts
in  the  fields  of  accounting  or  auditing.   As  such, it is not the duty or
responsibility  of the Audit Committee or its members to conduct "field work" or
other types of auditing or accounting reviews or procedures.  Each member of the
Audit  Committee shall be entitled to rely on (i) the integrity of those persons
and organizations within and outside the Fund from which it receives information
and  (ii)  the  accuracy  of the financial and other information provided to the
Audit Committee by such persons and organizations absent actual knowledge to the
contrary  (which  shall be promptly reported to the Fund's Board).  In addition,
the  evaluation of the Fund's financial statements by the Audit Committee is not
of the same quality as audits performed by the independent accountants, nor does
the  Audit  Committee' s  evaluation  substitute for the responsibilities of the
Fund' s  management  for preparing, or the independent accountants for auditing,
the financial statements.

3. To  carry  out  its  purposes,  the Audit Committee shall have the following
   duties and powers:

(a)  to recommend the selection,  retention or  termination of outside  auditors
     and, in connection therewith, to evaluate the independence of the auditors,
     including  whether  the  auditors  provide any  consulting  services to the
     Fund's  investment  adviser  (it being  understood  that the  auditors  are
     ultimately accountable to the Audit Committee and the Fund's Board and that
     the Audit Committee and the Fund' s Board shall have the ultimate authority
     and  responsibility  to select,  evaluate,  retain and terminate  auditors,
     subject to any required stockholder vote);



(b) to  ensure  receipt  of  a  formal  written statement from the outside
    auditors  on a periodic basis specifically delineating all relationships
    between the  auditors and the Fund; to discuss with the auditors any
    disclosed relation-

                 C-1

(PAGE C-1)


    ships  or  services  that  may  impact  the  auditors'  objectivity  and
    independence;  and  to  take, or recommend that the full Board take,
    appropriate action to oversee the independence of the auditors;

(c)  to meet with the Fund's outside auditors,  including  private meetings,  as
     necessary (i) to review the  arrangements for and scope of the annual audit
     and any special audits;  (ii) to discuss any matters of concern relating to
     the  Fund'  s  financial  statements,  including  any  adjustments  to such
     statements  recommended by the auditors, or other results of said audit(s);
     and (iii) to consider  the  auditors'  comments  with respect to the Fund's
     financial  policies,   procedures  and  internal  accounting  controls  and
     management's responses thereto;


(d)  to  consider  the  effect  upon  the Fund of any changes in accounting
     principles or practices proposed by management or the outside auditors;

(e) to  review  the  fees  charged  by  the outside auditors for audit and
    non-audit services; and

(f) to  report its activities to the full Board on a periodic basis and to
    make  such  recommendations  with  respect to the above and other matters
    as the Audit Committee may deem necessary or appropriate.

4. The  Audit  Committee  shall meet at least once annually and is empowered to
   hold special meetings as circumstances require.

5. The  Audit  Committee shall regularly meet (typically, concurrently with the
   regular Committee meetings) with the Fund's management.

6. The  Audit  Committee  shall have the resources and authority appropriate to
   discharge  its  responsibilities,  including  the  authority  to  retain
   special counsel and other experts or consultants at the expense of the Fund.

7. The  Audit  Committee  shall  review  the  adequacy of this Charter at least
   annually  and  recommend  any  changes  to the full Board.  The Board shall
   also review and approve this Charter at least annually.

8. The  Fund  shall  provide  the  American Stock Exchange written confirmation
   regarding:

    (1) the adoption of this formal written Charter and the Audit Committee's
        annual review and reassessment of the adequacy of this Charter;

    (2) the  composition  of  the Audit Committee consisting of at least three
        members and comprised solely of independent directors;

    (3) any  determination  that  the  Fund' s  Board  has  made regarding the
        independence of directors pursuant to the AMEX rules or applicable law;

    (4) the  financial literacy of the Audit Committee members as provided in
        the AMEX rules; and

    (5) the determination that at least one of the Audit Committee members has
        accounting  or  related  financial  management expertise as provided in
        the AMEX rules.





Effective: June 14, 2000

As Amended, May 2, 2002

                                      C-2

(PAGE C-2)


                                   EXHIBIT D


Dreyfus California Municipal Income, Inc.

Dreyfus Municipal Income, Inc.

Dreyfus New York Municipal Income, Inc.


REPORT OF THE AUDIT COMMITTEE


The audit committee oversees the Funds' 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.

The  committee  reviewed  with the independent auditors, 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 Funds' accounting principles and
such  other  matters  as  are  required to be discussed with the committee under
generally  accepted auditing standards. In addition, the committee has discussed
with the independent auditors the auditors' independence from management and the
Funds  including the auditor'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' independence.

The  committee  discussed with the Funds' independent auditors the overall scope
and  plans  for  the audits.  The committee meets with the independent auditors,
with   and   without  management  present,  to  discuss  the  results  of  their
examinations, their evaluations of the Funds' internal controls, and the overall
quality of the Funds' financial reporting.

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, 2002. The committee and the board also have
approved the selection of Ernst & Young LLP as the Funds' independent auditors.


George L. Perry, Audit Committee Chair
Lucy Wilson Benson, Audit Committee Member
David W. Burke, Audit Committee Member
Joseph S. DiMartino, Audit Committee Member
Whitney I. Gerard, Audit Committee Member
Arthur A. Hartman, Audit Committee Member


November 7, 2002

                                      D-1

(PAGE D-1)




                                    IMPORTANT


         Please Act Promptly
         Sign, Date and Mail your Proxy Card(s) Today.

         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.

         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.

         Thank you for your interest in the Fund.










                         DREYFUS MUNICIPAL INCOME, INC.

                               COMMON STOCKHOLDERS
                                       AND
                         AUCTION PREFERRED STOCKHOLDERS


The undersigned stockholder of Dreyfus Municipal Income, Inc. (the "Fund")
hereby appoints Robert R. Mullery and Emile R. Molineaux, 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 21, 2003 at the Annual Meeting
of Stockholders to be held at the offices of The Dreyfus Corporation, 200 Park
Avenue, 7th Floor West, New York, New York, commencing at 10:00 a.m. on Friday,
May 23, 2003; 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.

................................................................................
                              FOLD AND DETACH HERE





Please mark Boxes in blue or black ink.

1.       Election of Directors

 ___ FOR ALL Nominees listed below (except as marked to the contrary) ___
 WITHHOLD Authority For All Nominees listed below

Nominees are:
Class I - Lucy Wilson Benson, David W. Burke and Clifford L. Alexander, Jr.

WITHHELD FOR (write name of nominee(s) in space provided below)

 ------------------------------------------------------------------------

2.   To approve a change to the fundamental investment policies and investment
     restrictions of the Fund to permit the Fund to engage in additional
     investment techniques:
     FOR                   AGAINST                   ABSTAIN
     [_]                            [_]                                 [_]

3.   To approve a change to the fundamental investment policies and investment
     restrictions of the Fund to expand the Fund's ability to invest in other
     investment companies:
     FOR                   AGAINST                   ABSTAIN
     [_]                            [_]                                 [_]

4.   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.

 THIS PROXY IS SOLICITED BY THE FUND'S BOARD OF DIRECTORS AND WILL BE VOTED FOR
THE ABOVE PROPOSALS UNLESS OTHERWISE INDICATED.

Signature(s) should be exactly as name or names appearing on this proxy. If
shares are held jointly, each holder should sign. If signing is by attorney,
executor, administrator, trustee or guardian, please give full title.

Dated:____________________________, 2003

---------------------------------
Signature(s)
---------------------------------
Signature(s)

Sign, Date and return the Proxy Card Promptly using the Enclosed Envelope