SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF
THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )
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[ ] Confidential, for use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
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[x] Definitive Additional Materials
[ ] Soliciting Material Pursuant to (ss.) 240.14a-11(c) or (ss.)
240.14a-12
Bull & Bear U.S. Government Securities Fund, Inc.
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(Name of Registrant as Specified In Its Charter)
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Notes:
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BULL & BEAR U.S. GOVERNMENT SECURITIES FUND, INC.
November 23, 1998
Dear Fellow Shareholders,
Regrettably, the group rejected by Fund shareholders last year called
"Karpus" has indicated that it will continue its costly and disruptive feud with
the Fund at the upcoming Annual Meeting of Shareholders.
We expect that Karpus will be sending materials to you shortly, but we
urge you to give no weight to its selective analysis. We will address the Karpus
materials in much greater detail if and when they become available.
In the meantime, we want you to know that of the 25 closed end
government bond funds tracked by Morningstar, Inc. (an independent leader of
financial information and analysis, which does not endorse any broker/dealer,
financial planner, or bond company), the Fund's returns to shareholders have
been outstanding.
o 15.76% is the Fund's market total return for the 12 months ending
October 31, 1998 (ranking 4th best of 25 funds)
o 8.85% is the Fund's 12 month yield as of October 31, 1998
(ranking 2nd best of 25 funds)
We believe these results would have been even more impressive were it
not for the continuing drain on the Fund's assets caused by litigation brought
about by Karpus' involvement with your Fund.
We urge you to take this opportunity to sign, date and return the
enclosed WHITE proxy card. Do not sign any proxy card sent to you by Karpus.
If you have any voting questions please call the Fund's proxy solicitor,
D.F. King & Co., Inc. at 1-800-549-6746.
Thank you for your support.
Very truly yours,
The Board of Directors
