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Exhibit 11
Western Pennsylvania Adventure Capital Fund
Schedule of Computation of Earnings Per Common Share
For the Periods
<TABLE>
<CAPTION>
April 1, 2000 January 1, 2000
through through
June 30, 2000 June 30, 2000
--------------------------- ---------------------------
(unaudited) (unaudited)
<S> <C> <C>
Net Income (Loss) $ 21,486 $ 28,010
========== ==========
Weighted Average Number of Common Shares Outstanding 4,239,072 4,059,716
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Earnings per Common Share $ 0.01 $ 0.01
========== ==========
April 1, 1999 January 1, 1999
through through
June 30, 1999 June 30, 1999
-------------------------- --------------------------
(unaudited) (unaudited)
Net Income (Loss) $ 640 $ (3,751)
========== ==========
Weighted Average Number of Common Shares Outstanding 2,210,434 2,210,434
========== ==========
Earnings per Common Share $ 0.00 $ 0.00
========== ==========
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