Dreyfus Municipal Bond Closed-End Funds Announce Expiration & Preliminary Results of Issuer Tender Offers for Outstanding Auc...

The Dreyfus Corporation and each of the Dreyfus municipal bond closed-end funds listed below (each, the "Fund" and collectively, the "Funds") announced today the expiration and preliminary results of the previously announced issuer tender offer (each, a "Tender Offer") to purchase up to 100% of the Fund's outstanding auction rate preferred stock ("ARPS") at a price per share equal to 95% of the liquidation preference of $25,000 per share (or $23,750 per share), plus any unpaid ARPS dividends accrued through the expiration date of each Tender Offer.

Each Fund's Tender Offer expired on February 28, 2018 at 5:00 p.m. Eastern Standard Time. All shares that were validly tendered and not withdrawn during the offering period have been preliminarily accepted for payment. Completion of each Fund's Tender Offer is conditional upon its creation of tender option bonds on terms satisfactory to the Fund and upon satisfaction of certain other conditions as set forth in the Fund's Offer to Purchase and the related Letter of Transmittal (the "Offer Documents").

Based upon current information, each Fund has preliminarily accepted ARPS for payment as follows:

TickerSymbol

Fund

Series

Cusip

ARPSTendered

% ofOutstanding

        
      
      
        
          LEO
        
        
           
        
        
          Dreyfus Strategic Municipals, Inc.
        
        
           
        
        
          M
        
        
           
        
        
          261932206
        
        
           
        
        
          377
        
        
           
        
        
          33.07%
        
      
      
        
          LEO
        
        
           
        
        
          Dreyfus Strategic Municipals, Inc.
        
        
           
        
        
          T
        
        
           
        
        
          261932305
        
        
           
        
        
          393
        
        
           
        
        
          34.47%
        
      
      
        
          LEO
        
        
           
        
        
          Dreyfus Strategic Municipals, Inc.
        
        
           
        
        
          W
        
        
           
        
        
          261932404
        
        
           
        
        
          480
        
        
           
        
        
          42.11%
        
      
      
        
          LEO
        
        
           
        
        
          Dreyfus Strategic Municipals, Inc.
        
        
           
        
        
          TH
        
        
           
        
        
          261932503
        
        
           
        
        
          574
        
        
           
        
        
          50.35%
        
      
      
        
          LEO
        
        
           
        
        
          Dreyfus Strategic Municipals, Inc.
        
        
           
        
        
          F
        
        
           
        
        
          261932602
        
        
           
        
        
          720
        
        
           
        
        
          63.16%
        
      
      
        
          DSM
        
        
           
        
        
          Dreyfus Strategic Municipal Bond Fund, Inc.
        
        
           
        
        
          A
        
        
           
        
        
          26202F206
        
        
           
        
        
          542
        
        
           
        
        
          43.71%
        
      
      
        
          DSM
        
        
           
        
        
          Dreyfus Strategic Municipal Bond Fund, Inc.
        
        
           
        
        
          B
        
        
           
        
        
          26202F305
        
        
           
        
        
          578
        
        
           
        
        
          46.61%
        
      
      
        
          DSM
        
        
           
        
        
          Dreyfus Strategic Municipal Bond Fund, Inc.
        
        
           
        
        
          C
        
        
           
        
        
          26202F404
        
        
           
        
        
          628
        
        
           
        
        
          50.65%
        
      
      
        
          DMF
        
        
           
        
        
          Dreyfus Municipal Income, Inc.
        
        
           
        
        
          A
        
        
           
        
        
          26201R201
        
        
           
        
        
          384
        
        
           
        
        
          38.40%
        
      
      
        
          DMF
        
        
           
        
        
          Dreyfus Municipal Income, Inc.
        
        
           
        
        
          B
        
        
           
        
        
          26201R300
        
        
           
        
        
          407
        
        
           
        
        
          40.70%
        
      
      
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
        
           
        
        
        
      
    
    

The number of ARPS to be repurchased by each Fund is subject to adjustment and should not be regarded as final. The Funds' ARPS that were not tendered remain outstanding.

This announcement is for informational purposes only and is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of any Fund. The complete terms and conditions of each Tender Offer are set forth in the Offer Documents, as filed with the Securities and Exchange Commission as exhibits to a tender offer statement on Schedule TO and available free of charge at www.sec.gov.

The Dreyfus Corporation, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as each Fund's investment adviser. The Dreyfus Corporation was established in 1947 and is headquartered in New York City. Additional information is available at www.im.bnymellon.com.

This press release is not a prospectus, circular or representation intended for use in the purchase or sale of Fund shares. Statements in this press release that are not historical facts are forward-looking statements. Such forward-looking statements represent the Funds' current plans based on information available at the time the statements are made. You should exercise caution in interpreting and relying on forward-looking statements, because they are subject to uncertainties and other factors which are, in some cases, beyond a Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements. The Funds, The Dreyfus Corporation, and any of their affiliates, directors, employees or agents undertake no responsibility to update publicly or revise any forward-looking statements.

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For Press Inquiries:The Dreyfus CorporationBenjamin Tanner(212) 635-8676orFor Other Inquiries:MBSC Securities CorporationThe National Marketing Desk200 Park AvenueNew York, New York 101661-800-334-6899