DREYFUS HIGH YIELD STRATEGIES FUND (NYSE: DHF) - Dreyfus High Yield Strategies Fund (DHF) Announces Dividend Increase.

On October 28, 2009, the Board of Trustees of DHF declared from net investment income a monthly cash dividend of $0.035 per share of beneficial interest, payable on November 30, 2009 to shareholders of record at the close of business on November 12, 2009. The ex-dividend date is November 9, 2009. The $0.035 per share investment income dividend represents an increase of $0.005 from the previously declared monthly net investment income dividend of $0.03 per share.

The dividend increase is due primarily to income earned on DHF''s portfolio securities and an increase in leverage. DHF''s accumulated undistributed investment income-net was approximately $6.3 million as of September 30, 2009.^*

^* The accumulated undistributed investment income-net is determined in accordance with income tax regulations, which differ from U.S. generally accepted accounting principles.

Contacts:

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The Dreyfus Corporation
Patrice M. Kozlowski, 212-922-6030
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MBSC Securities Corporation
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