The Fund adjusts the classification of distributions to shareholders to reflect
the differences between financial statement amounts and distributions determined
in accordance with income tax regulations. Accordingly, during the year ended
July 31, 2000, amounts have been reclassified to reflect an increase in paid-in
capital of $361,661, a decrease in accumulated net investment loss of $250,801,
and a decrease in accumulated net realized gain on investments of $612,462. Net
assets of the Fund were unaffected by the reclassifications.
