Seeks Total Return from Bonds and Currencies Around the World in a Single Portfolio

NEW YORK, April 6, 2011 — The Dreyfus Corporation (Dreyfus), part of BNY Mellon Asset Management, announced today that it has launched a new global bond fund, Dreyfus Global Dynamic Bond Fund.  The fund seeks total return (consisting of capital appreciation and income) by investing in bonds, currencies and other instruments that provide investment exposure to global bond and currency markets.  

The fund's adviser is Dreyfus.  Dreyfus has engaged its affiliate, Newton Capital Management Limited (Newton), to serve as the fund's sub-investment adviser.  

"We believe that it is important that a fixed-income manager have the flexibility to seek to capture returns opportunistically as and when they arise, particularly with the uncertainty in today's marketplace," said Jon Baum, Chairman and CEO of Dreyfus.  "Dreyfus Global Dynamic Bond Fund provides that flexibility.  Focused on generating absolute returns across economic cycles, the fund aims to capture different sources of global bond and currency returns in a single portfolio. This unconstrained strategy provides the flexibility that we believe can help to generate attractive returns in the context of uncertainty in bond and currency markets."

Newton's fixed income investment managers focus on identifying opportunities in bond and currency markets around the world using their global thematic investment approach.  

The fund normally invests at least 80% of its assets in bonds and other instruments that provide investment exposure to global bond markets.  The portfolio managers have considerable latitude in allocating the fund's investments and in selecting securities and derivative instruments to implement the fund's investment approach.  The fund is not managed to a benchmark index; it seeks to provide returns that are largely independent of market moves. There is no limitation as to the amount of fund assets required to be invested in any one fixed income asset class or sector.  The fund's portfolio managers employ a dynamic, unconstrained approach in allocating the fund's assets globally, primarily among government bonds, emerging market sovereign debt, investment grade and high yield corporate instruments and currencies.  

The fund's portfolio managers are Paul Brain, leader of the fixed income team at Newton, Howard Cunningham and Jonathan Day, who, together, have more than 60 years of investment experience.  For further information on Dreyfus Global Dynamic Bond Fund, contact 1-800-554-4611.

-Bond funds are subject to interest rate, credit, liquidity, prepayment and extension, call and market risks in varying degrees. Generally, bond prices move in the opposite direction of interest rate changes.

-Investing internationally involves special risks, including changes in currency exchange rates, political, economic and social instability, a lack of comprehensive company information, differing auditing and legal standards and less market liquidity. These risks are generally greater with emerging market countries than with more economically and politically established foreign countries.

-Investments in foreign currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged. Foreign currencies are also subject to risks caused by inflation, interest rates, budget deficits and low savings rates, political factors and government intervention and controls.

-High yield (junk) bonds are subject to increased credit risk and are considered predominantly speculative in terms of the issuer's perceived ability to continue making interest payments on a timely basis and to repay principal upon maturity.  

-The use of derivative instruments, such as options, futures and options on futures, forward contracts, swaps, options on swaps, and other credit derivatives, involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. A small investment in derivatives could have a potentially large impact on the fund's performance.    

-The ability of the fund to achieve its investment goal depends,  in part,  on the ability of the fund's portfolio managers to allocate effectively the fund's assets between global bonds and currencies, and among and within fixed income asset classes.  There can be no assurance that the actual allocations will be effective in achieving the fund's investment goal.  

For more complete information on the fund, including investment risks associated with an investment in the fund, please refer to the fund's prospectus.  

The Dreyfus Corporation, established in 1951 and headquartered in New York City, is one of the nation's leading asset management and distribution companies, currently managing more than $400 billion in mutual funds and separately managed accounts.  

Newton is a London-based global asset management subsidiary of The Bank of New York Mellon Corporation and part of BNY Mellon Asset Management. With assets under management of more than $73 billion, including assets managed by Newton Investment Management Limited as dual officers of Newton Capital Management Limited and The Bank of New York Mellon, Newton's group of affiliated companies provides a broad range of award-winning investment products and services to individuals, pension funds, charities and corporations. News and other information about Newton is available at www.newton.co.uk.

BNY Mellon Asset Management is the umbrella organisation for BNY Mellon's affiliated investment management firms and global distribution companies. Information about BNY Mellon Asset Management is available at www.bnymellonam.com.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team.  It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day.  BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).  Additional information is available at www.bnymellon.com.

All information source BNY Mellon Asset Management as of December 31, 2010. This press release is qualified for issuance in the US only and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized. This press release is issued by BNY Mellon Asset Management to members of the financial press and media and the information contained herein should not be construed as investment advice.  Past performance is not a guide to future performance. A BNY Mellon Company(SM)