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THE CRABBE HUSON SPECIAL FUND, INC. (THE "SPECIAL FUND")
THE CRABBE HUSON EQUITY FUND, INC. (THE "EQUITY FUND")
THE CRABBE HUSON ASSET ALLOCATION FUND, INC. (THE "ASSET ALLOCATION FUND")
(COLLECTIVELY, THE "FUNDS")
The Crabbe Huson Group, Inc. (the "Adviser") has added the following
portfolio managers to the above Funds.
John W. Johnson has joined the team of James E. Crabbe and John P.
Kinnucan to manage the Special Fund. Mr. Johnson joined the Adviser in May,
1995. From November, 1991 until May, 1995, Mr. Johnson was a private investment
banker. Between August, 1988 and November, 1991 Mr. Johnson was Director of
Equity Investments for Kennedy Associates. Mr. Crabbe will continue to
coordinate the team.
Robert W. Anton has joined the team of Richard S. Huson and John E.
Maack, Jr. to manage the Equity Fund and the Asset Allocation Fund. Mr. Anton
joined the Adviser in June, 1995. Prior to joining the Adviser, Mr. Anton served
seven years as Chief Investment Officer, Portfolio Manager at Financial Aims
Corporation. Mr. Huson will continue to coordinate the team.
