About Dreyfus

Dreyfus Hires Industry Veteran Jon Baum as Vice Chair of Distribution

NEW YORK, March 13, 2006 — The Dreyfus Corporation today announced that Jon Baum will join the company as Vice Chair of Distribution effective today. This new position will report to Dreyfus President Thomas F. Eggers. Baum will become a member of the Dreyfus Operating Committee and Senior Management Committee effectively immediately.

As Vice Chair of Dreyfus, Baum will oversee distribution to intermediaries of all financial products, relationship management with intermediary partners, field management, retirement and separate account specialists and internal wholesalers.

"Dreyfus is now positioned as a customer-focused distribution company, capitalizing on our strong brand recognition and reputation, utilizing Mellon Centers of Investment Excellence and sub-advisors to provide institutional quality investment processes to affluent investors and their advisors," said Eggers. "Jon's distribution expertise, industry reputation and proven sales leadership will catapult our distribution activities allowing us to better intensify our focus on our customers."

Pointing to Dreyfus' 2005 distribution success, Eggers noted that Dreyfus was one of less than 20 mutual fund companies nationwide last year to achieve positive net flows in assets under management. Further, Dreyfus' Separate Account Management business exceeded $10 billion in assets under management in 2005, placing Dreyfus among the top 10 separate accounts providers, a business Dreyfus entered only five years ago.

"I couldn't be happier to be joining Dreyfus, a company with one of the most powerful brands in the financial services industry, said Baum. "Dreyfus' recognition and reputation, coupled by their intense focus on customers and distribution will allow us to gain even greater traction in a competitive marketplace."

Prior to joining Dreyfus, Baum was Chief Operating Officer at Scudder Investments and Chief Executive Officer of its distribution company. Baum was also Executive Vice President and Director of Business Development for the Private Client Group at UBS Paine Webber, where he began his career in 1984 as a financial advisor. Baum received his Bachelor of Arts degree from Bucknell University. He is active in the Securities Industry Association and the Investment Company Institute. He holds his NASD series 24, 6, 63, 7, 8 and 65 licenses.

The Dreyfus Corporation, established in 1951 and headquartered in New York City, is one of the nation's leading asset management companies, currently managing more than $170 billion in mutual funds, separately managed accounts and institutional portfolios. Dreyfus Service Corporation, each fund's distributor, is a wholly-owned subsidiary of The Dreyfus Corporation.

The Dreyfus Corporation is a subsidiary of Mellon Financial Corporation, a global financial services company, and is part of the newly formed Mellon Asset Management. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.7 trillion in assets under management, administration or custody, including $781 billion under management. News and other information about Mellon is available at www.mellon.com.

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