Dreyfus High Yield Strategies Fund Announces Portfolio Manager Appointments.

NEW YORK -- On July 25, 2007, at a meeting of the Board of Trustees of Dreyfus High Yield Strategies Fund (NYSE: DHF), the Board approved the appointment of Karen Bater as co-primary portfolio manager for the Fund. Ms. Bater will co-manage the Fund with David Bowser, the Fund's current portfolio manager. Chris Barris was also appointed as an additional portfolio manager for the Fund. Kent J. Wosepka remains as a portfolio manager for the Fund. The Dreyfus Corporation ("Dreyfus") continues to be the investment adviser for the Fund.

Ms. Bater has been employed by Dreyfus since July 2007. She is Director of High Yield Strategies of Standish Mellon Asset Management, LLC ("Standish"), an affiliate of Dreyfus, responsible for managing Standish's High Yield portfolios. She joined Standish in July 2007 from Gartmore Global Investments. Prior to Gartmore, Ms. Bater was a portfolio manager at CoresStates Investment Advisors. Ms. Bater has a B.S. in Finance from Pennsylvania State University and is a Chartered Financial Analyst.

Mr. Barris has been employed by Dreyfus since July 2007. He is the High Yield Sector Strategist of Standish's High Yield portfolios and Senior Analyst for Corporate Bonds, responsible for coverage of gaming, lodging, technology and the autos sectors. He joined Standish in 2005 from State Street Research & Management, where he served as a high yield analyst. Prior to that, Mr. Barris worked for Credit Suisse First Boston (Donaldson, Lufkin & Jenrette) in the leveraged finance group. Mr. Barris has an M.B.A. from Columbia Business School and a B.A. from Hamilton College.