Byrne said: "It's great for the Ospreys that we have five players selected in the Dream Team.
"It's always nice to be acknowledged by the media and the fans, and, as a region, we are looking forward to mounting a strong challenge for the Magners League title next year." Williams, Bowe, Jamie Heaslip, Lifeimi Mafi and Tommy Bowe have made the Dream Team for the second year running.
"To be included in the Dream Team for the third consecutive year is a real honour, especially alongside such a quality list of players and rounds off a fantastic season," said Heaslip.
Magners League Dream Team: L Byrne (Ospreys); T Bowe (Ospreys), B O'Driscoll (Leinster), L Mafi (Munster), L Halfpenny (Blues); R O'Gara (Munster), M Phillips (Ospreys); G Jenkins (Blues), J Flannery (Munster), A Jones (Ospreys), P O'Connell (Munster), AW Jones (Ospreys), R Elsom (Leinster), J Heaslip (Leinster), M Williams (Blues)..
And look at the scores by which the Dream Team won the gold in 1992: 116-48, 103-70, 111-68, 127-83, 122-81, 115-77, 122-76, and 117-85.
Enter the Dream Team. It was no disgrace to be beaten by such a team.
"I am honoured to have been included in the Magners League Dream Team," said Jenkins.
Four players - Williams, Jamie Heaslip, Lifeimi Mafi and Tommy Bowe - have made the Dream Team for the second year running.
Wales full-back Lee Byrne was one of five Ospreys to be selected in the Dream Team, alongside Adam Jones, Alun Wyn Jones, Mike Phillips and Ireland winger Bowe.