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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE SUSAN J HAEDT
TITLE CONTROLLER
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<NAME> IAI GROWTH & INCOME FUND
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</TABLE>
