P. Exner, T. Ichinose, H. Neidhardt, and V.A. Zagrebnov New product formulae and quantum Zeno dynamics with generalized observables (46K, LaTeX) ABSTRACT. We demonstrate a pair of new product formulae which combine a projection with a resolvent of a positive operator, or with an exponential function and spectral projections, respectively. The convergence is strong or even operator-norm under more restrictive assumptions. The second mentioned formula can be used to describe Zeno dynamics in the situation when the usual non-decay measurement is replaced by a particular generalized observable in the sense of Davies.