PRESIDENT & FELLOWS OF HARVARD COLLEGE
SC 13G/A, 1997-06-10
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                 SCHEDULE 13G-A
                                 (Rule 13d-102)

             Information Statement Pursuant to Rules 13d-1 and 13d-2
                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                            France Growth Fund, Inc.
         ---------------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
        ----------------------------------------------------------------
                         (Title of Class of Securities)


                                    35177K108
                          -----------------------------
                                 (CUSIP Number)


*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



                                Page 1 of 4 Pages

<PAGE>





- -------------------                                            -----------------
CUSIP No. 35177K108                    13G                     Page 2 of 4 Pages
- -------------------                                            -----------------



- --------------------------------------------------------------------------------
1.          NAME OF REPORTING PERSON
            S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

              President and Fellows of Harvard College
- --------------------------------------------------------------------------------
                                                                (a)          [ ]
2.          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                (b)          [ ]

- --------------------------------------------------------------------------------
3.          SEC USE ONLY

- --------------------------------------------------------------------------------
4.          CITIZENSHIP OR PLACE OF ORGANIZATION

                     Massachusetts
- --------------------------------------------------------------------------------
                   5.   SOLE VOTING POWER
  NUMBER OF                   1,582,300 shares
   SHARES          -------------------------------------------------------------
BENEFICIALLY       6.   SHARED VOTING POWER
  OWNED BY                       ----
    EACH           -------------------------------------------------------------
 REPORTING         7.   SOLE DISPOSITIVE POWER
  PERSON                         1,582,300 shares
   WITH            -------------------------------------------------------------
                   8.   SHARED DISPOSITIVE POWER
                                 ----
- --------------------------------------------------------------------------------
9.          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                       1,582,300 shares
- --------------------------------------------------------------------------------
10.         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES            [ ]
            CERTAIN SHARES*

- --------------------------------------------------------------------------------
11.         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                              10.3%
- --------------------------------------------------------------------------------
12.         TYPE OF REPORTING PERSON*
                              EP
- --------------------------------------------------------------------------------


                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                                Page 2 of 4 Pages

<PAGE>



                                  SCHEDULE 13G


Item 1(a)   Name of Issuer:
                    France Growth Fund, Inc.

     1(b)   Address of Issuer's Principal Executive Offices:
                    44 rue de Courcelles
                    75008 Paris
                    France

Item 2(a)   Name of Person Filing:
                    President and Fellows of Harvard College

     2(b)   Address of Principal Business Office or, if none, Residence:
                    c/o Harvard Management Company, Inc.
                    600 Atlantic Avenue
                    Boston, MA  02210

     2(c)   Citizenship:
                    Massachusetts

     2(d)   Title of Class of Securities:
                    Common Stock

     2(e)   CUSIP Number:
                    35177K108

Item 3      If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b):
                    The reporting person is an Employee Benefit Plan, Pension
                    Fund which is subject to the  provisions  of the Employee
                    Retirement Income Security Act of 1974 or Endowment Fund.

Item 4      Ownership:

     4(a)   Amount beneficially owned:
                    1,582,300 shares

     4(b)   Percent of Class:
                    10.3%

     4(c)   Number of shares as to which such person has:

            (i)  sole power to vote or to direct the vote:
                             1,582,300 shares



                                Page 3 of 4 Pages

<PAGE>


            (ii) shared power to vote or to direct the vote:
                             ---------

            (iii) sole power to dispose or to direct the disposition of:
                             1,582,300 shares

            (iv) shared power to dispose or to direct the disposition of:
                             --------

Item 5      Ownership of Five Percent or Less of a Class:
                    Not Applicable.

Item 6      Ownership of More than Five Percent on Behalf of Another Person:
                    Not Applicable.

Item 7      Identification  and  Classification  of the  Subsidiary  which
            Acquired the  Security  Being  Reported on by the Parent  Holding
            Company:
                    Not Applicable.

Item 8      Identification and Classification of Members of the Group:
                    Not Applicable.

Item 9      Notice of Dissolution of Group:
                    Not Applicable.

Item 10     Certification:

            By signing below the undersigned certifies that, to the best of its
            knowledge and belief, the securities referred to above were acquired
            in the ordinary course of business and were not acquired for the
            purpose of and do not have the effect of changing or influencing the
            control of the issuer of such securities and were not acquired in
            connection with or as a participant in any transaction having such
            purpose or effect.


After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.

                                       PRESIDENT AND FELLOWS OF HARVARD COLLEGE


                                       By:  /s/ Verne O. Sedlacek
                                          --------------------------------------
                                         Name:  Verne O. Sedlacek
                                         Title: Authorized Signatory


June 9, 1997

                                Page 4 of 4 Pages

4118461.01




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