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[LOGO]
G.T. GLOBAL EASTERN EUROPE FUND
50 California Street
27th Floor
San Francisco, CA 94111
DEAR SHAREHOLDER:
Attached is the Notice and Proxy Statement for the Annual Meeting of
Shareholders of G.T. Global Eastern Europe Fund (the "Fund") to be held on
October 20, 1997. There are two matters on which you, the Shareholder, are being
asked to vote:
(i) the election of two Class 1 Trustees for the Fund; and
(ii) the ratification of the selection of independent accountants.
THE FUND'S BOARD OF TRUSTEES UNANIMOUSLY RECOMMENDS THAT YOU VOTE TO APPROVE
EACH OF THE PROPOSALS AS SET FORTH IN THE ENCLOSED PROXY STATEMENT.
To help the Fund avoid the substantial costs of further proxy solicitations,
please complete the proxy card and return it as soon as possible in the enclosed
postage-paid envelope, even if you plan to attend the meeting in person.
Thank you in advance for your participation and prompt attention.
Sincerely yours,
/s/ WILLIAM J. GUILFOYLE
WILLIAM J. GUILFOYLE
CHAIRMAN OF THE BOARD
AND PRESIDENT
SEPTEMBER 16, 1997
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G.T. GLOBAL EASTERN EUROPE FUND
50 CALIFORNIA STREET
27TH FLOOR
SAN FRANCISCO, CALIFORNIA 94111
NOTICE OF THE ANNUAL MEETING OF SHAREHOLDERS
OCTOBER 20, 1997
TO THE SHAREHOLDERS OF G.T. GLOBAL EASTERN EUROPE FUND:
Notice is hereby given that the Annual Meeting of Shareholders (the
"Meeting") of G.T. Global Eastern Europe Fund (the "Fund") will be held at 50
California Street, 27th Floor, San Francisco, California, on October 20, 1997,
at 11:00 a.m., Pacific time, for the following purposes:
(1) To elect two Class 1 Trustees to serve until 2000;
(2) To ratify the selection of Coopers & Lybrand L.L.P., independent
accountants, as auditors for the Fund for its fiscal year ending October
31, 1997; and
(3) To transact such other business as may properly come before the Meeting
or any adjournment thereof.
Shareholders of record at the close of business on September 5, 1997, are
entitled to notice of, and to vote at, the Meeting. Your attention is called to
the accompanying Proxy Statement. We sincerely hope you can attend the Meeting.
However, whether or not you will attend, we urge you to PROMPTLY COMPLETE, SIGN
AND RETURN THE ENCLOSED PROXY CARD, so that a quorum will be present and a
maximum number of shares may be voted.
BY ORDER OF THE BOARD OF TRUSTEES,
/s/ HELGE KRIST LEE
HELGE KRIST LEE
SECRETARY
SAN FRANCISCO, CALIFORNIA
SEPTEMBER 16, 1997
YOUR VOTE IS VERY IMPORTANT. BY PROMPTLY COMPLETING, SIGNING AND RETURNING THE
ENCLOSED PROXY CARD YOU WILL HELP YOUR FUND AVOID THE SUBSTANTIAL ADDITIONAL
EXPENSES OF MAKING FURTHER SOLICITATIONS.
<PAGE>
PROXY STATEMENT
G.T. GLOBAL EASTERN EUROPE FUND
50 CALIFORNIA STREET
27TH FLOOR
SAN FRANCISCO, CALIFORNIA 94111
(415) 392-6181
------------------------
ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON
OCTOBER 20, 1997
------------------------
This Proxy Statement is being furnished to shareholders in connection with
the solicitation of proxies by the Board of Trustees of G.T. Global Eastern
Europe Fund (the "Fund"). These proxies are to be used at the Annual Meeting of
Shareholders and at any adjournment thereof (the "Meeting") to be held at the
offices of the Fund, 50 California Street, 27th Floor, San Francisco, California
94111, on October 20, 1997, at 11:00 a.m. Pacific time. Each shareholder will be
entitled to one non-cumulative vote for each share owned on all matters to come
before the Meeting. Each fractional share shall be entitled to a proportionate
fractional vote. Only shareholders of record at the close of business on
September 5, 1997 ("Shareholders"), are entitled to notice of and to vote at the
Meeting. Copies of this Proxy Statement and the accompanying materials will
first be mailed to Shareholders on or about September 19, 1997.
If the accompanying proxy card is properly executed and returned by a
Shareholder in time to be voted at the Meeting, the shares covered thereby will
be voted in accordance with the instructions marked thereon by the Shareholder.
Executed proxies that are unmarked will be voted in favor of the nominees for
trustee; in accordance with the recommendation of the Board of Trustees as to
Proposal 2; and, at the discretion of the proxyholders, on any other matter that
may properly have come before the Meeting or any adjournments thereof. Any proxy
given pursuant to this solicitation may be revoked at any time before its
exercise by giving written notice to the Secretary of the Fund or by the
issuance of a subsequent proxy. To be effective, such revocation must be
received by the Secretary of the Fund prior to the Meeting. In addition, a
Shareholder may revoke a proxy by attending the Meeting and voting in person.
The solicitation of proxies will be made primarily by mail but also may be made
by telephone, telegraph, telecopy and personal interviews. Authorization to
execute proxies may be obtained by telephonic or electronically transmitted
instructions.
The presence in person or by proxy of shareholders entitled to cast a
majority of all the votes entitled to be cast at the Meeting shall constitute a
quorum at the Meeting. If a quorum is not present at the Meeting or a quorum is
present but sufficient votes to approve any of the proposals described in the
Proxy Statement are not received, the persons named as proxies may propose one
or more adjournments of the Meeting to permit further solicitation of proxies.
Any such adjournment will require the affirmative vote of a majority of those
shares represented at the Meeting in person or by proxy. A Shareholder vote may
be taken on one or more of the proposals in this Proxy Statement prior to any
such adjournment if sufficient votes have been received and it is otherwise
appropriate.
Broker non-votes are shares held in street name for which the broker
indicates that instructions have not been received from the beneficial owners or
other persons entitled to vote and the broker does not have discretionary voting
authority. Abstentions and broker non-votes will be counted as shares present
for purposes of determining whether a quorum is present, but will not be voted
for or against any adjournment or proposal or for or against any adjournment to
permit further solicitation of proxies. Accordingly, abstentions and broker
non-votes effectively will be a vote against adjournment or against any proposal
where the required vote is a percentage of the shares present or outstanding.
Abstentions and broker non-votes will not be counted, however, as votes cast for
purposes of determining whether sufficient votes have been received to approve a
proposal.
As of September 5, 1997, the record date, there were 6,859,397 shares of
beneficial interest in the Fund. To the knowledge of the Fund's management, as
of the record date, (1) there are no owners of 5% or
<PAGE>
more of the Fund's outstanding common stock except The Manufacturers Life
Insurance Company ("MLIC"), 200 Bloor Street East, Toronto, Ontario, which was
the beneficial owner of 6.1% of the Fund's outstanding common stock according to
a Schedule 13G dated February, 1997, which indicated that the number of shares
owned by MLIC on behalf of its various investment advisory clients to be 441,299
shares, for which MLIC does not have sole voting and dispositive powers, (2) no
Trustee of the Fund owned 1% or more of the Fund's outstanding shares, and (3)
the officers and Trustees of the Fund owned, as a group, less than 1% of the
Fund's outstanding shares.
PROPOSAL NO. 1: ELECTION OF TRUSTEES
The Fund's Trustees, all of whom are listed below, are divided into three
classes. Upon expiration of the initial term of office of each Trustee, a
Trustee elected to succeed the Trustee whose term of office expires shall be
elected for a term expiring on the date of the third annual meeting of
shareholders or special meeting in lieu thereof following his or her election.
The term of the Class 1 Trustees expires in 1997. The terms of Class 2 and 3
Trustees will expire in 1998 and 1999, respectively. It is proposed that the
Class 1 Trustees be elected at the Meeting to serve for terms expiring in 2000.
It is the intention of each proxy named on the accompanying proxy card to
vote FOR the election of the nominees listed below unless the Shareholder
specifically indicates in his or her proxy card the desire to withhold authority
to vote for such nominee. A plurality of all the votes cast at the Meeting in
person or by proxy is required to elect each nominee. Shareholders of the Fund
do not have cumulative voting rights with respect to the election of the
Trustees. The Board of Trustees does not contemplate that the nominees, who have
consented to being nominated, will be unable to serve as Trustee for any reason,
but if that should occur prior to the meeting, the proxies will be voted for
such other nominee(s) as the Board of Trustees may recommend.
The Trustees, with the exception of Mr. Guilfoyle and Mr. Wade, have served
as Trustees since the Fund's commencement of operations in March 1990. Mr. Wade
has served as a Trustee since January 1997 and Mr. Guilfoyle, President of GT
Global, Inc., the principal distributor of the GT Global Mutual Funds ("GT
Global"), has served as a Trustee since February 1997.
2
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INFORMATION REGARDING NOMINEES FOR ELECTION AT THE ANNUAL MEETING
<TABLE>
<CAPTION>
SHARES OF THE FUND
BENEFICIALLY OWNED
DIRECTLY OR
NAME, AGE, BUSINESS EXPERIENCE DURING THE INDIRECTLY ON
PAST FIVE YEARS AND OTHER DIRECTORSHIPS POSITION(S) WITH THE FUND SEPTEMBER 5, 1997
- ---------------------------------------------------------------------- ------------------------- ---------------------
<S> <C> <C>
CLASS 1 -- TERM EXPIRES 2000
C. Derek Anderson, Age 56 Trustee --
Mr. Anderson is President, Plantagenet Capital Management, LLC (an
investment partnership); Chief Executive Officer, Plantagenet
Holdings, Ltd. (an investment banking firm); Director, Anderson
Capital Management, Inc. since 1988; Director, PremiumWear, Inc.
(formerly Munsingwear, Inc.) (a casual apparel company) and Director,
"R" Homes, Inc. and various other companies. Mr. Anderson is also a
director or trustee of each of the other investment companies
registered under the Investment Company Act of 1940, as amended (the
"1940 Act"), that is managed or administered by Chancellor LGT.
Frank S. Bayley, Age 58 Trustee 100
Mr. Bayley is a partner of the law firm of Baker & McKenzie, and
serves as a Director and Chairman of C.D. Stimson Company (a private
investment company). Mr. Bayley also is a director or trustee of each
of the other investment companies registered under the 1940 Act that
is managed or administered by Chancellor LGT.
</TABLE>
INFORMATION REGARDING TRUSTEES WHOSE CURRENT TERMS CONTINUE
<TABLE>
<CAPTION>
SHARES OF THE FUND
BENEFICIALLY OWNED
DIRECTLY OR
NAME, AGE, BUSINESS EXPERIENCE DURING THE INDIRECTLY ON
PAST FIVE YEARS AND OTHER DIRECTORSHIPS POSITION(S) WITH THE FUND SEPTEMBER 5, 1997
- ---------------------------------------------------------------------- ------------------------- ---------------------
<S> <C> <C>
CLASS 2 -- TERM EXPIRES 1998
Arthur C. Patterson, Age 54 Trustee --
Mr. Patterson is Managing Partner of Accel Partners (a venture capital
firm). He also serves as a director of Viasoft and PageMart, Inc.
(both public software companies), as well as several other privately
held software and communications companies. Mr. Patterson also is a
director or trustee of each of the other investment companies
registered under the 1940 Act that is managed or administered by
Chancellor LGT.
Ruth H. Quigley, Age 62 Trustee 200
Miss Quigley is a private investor. From 1984 to 1986, she was
President of Quigley Friedlander & Co., Inc. (a financial advisory
services firm). Miss Quigley also is a director or trustee of each of
the other investment companies registered under the 1940 Act that is
managed or administered by Chancellor LGT.
</TABLE>
3
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<TABLE>
<CAPTION>
SHARES OF THE FUND
BENEFICIALLY OWNED
DIRECTLY OR
NAME, AGE, BUSINESS EXPERIENCE DURING THE INDIRECTLY ON
PAST FIVE YEARS AND OTHER DIRECTORSHIPS POSITION(S) WITH THE FUND SEPTEMBER 5, 1997
- ---------------------------------------------------------------------- ------------------------- ---------------------
<S> <C> <C>
CLASS 3 -- TERM EXPIRES 1999
William J. Guilfoyle, Age 39* Trustee and Chairman of 8,818
Mr. Guilfoyle is President, GT Global, Inc. since 1995; Director, GT the Board
Global since 1991; Senior Vice President and Director of Sales and
Marketing, GT Global from May 1992 to April 1995; Vice President and
Director of Marketing, GT Global from 1987 to 1992; Director,
Liechtenstein Global Trust AG (holding company of the various
international LGT companies) Advisory Board since January 1996;
Director, G.T. Global Insurance Agency ("G.T. Insurance") since 1996;
President and Chief Executive Officer, G.T. Insurance since 1995;
Senior Vice President and Director, Sales and Marketing, G.T.
Insurance from April 1995 to November 1995; Senior Vice President,
Retail Marketing, GT Insurance from 1992 to 1993. Mr. Guilfoyle is
also a director or trustee of each of the other investment companies
registered under the 1940 Act that is managed or administered by
Chancellor LGT.
Robert G. Wade, Jr., Age 70* Trustee --
Mr. Wade is Consultant to Chancellor LGT; Chairman of the Board of
Chancellor Capital Management, Inc. from January 1995 to October 1996;
President, Chief Executive Officer and Chairman of the Board of
Chancellor Capital Management, Inc. from 1988 to January 1995. Mr.
Wade also is a director or trustee of each of the other investment
companies registered under the 1940 Act that is managed or
administered by Chancellor LGT.
</TABLE>
- ------------------------
* Messrs. Guilfoyle and Wade are deemed to be "interested persons" of the
Fund, as defined in the 1940 Act, by virtue of their associations with GT
Global, Chancellor LGT, the Fund's investment manager and administrator, or
their affiliates, and by virtue of Mr. Guilfoyle's position as an officer of
the Fund.
The above information provides the business experience of each Trustee
during at least the past five years. Corresponding information with respect to
the Executive Officers of the Fund is provided below. See "Other Information --
Executive Officers of the Fund."
On September 5, 1997, the Trustees and Officers of the Fund as a group owned
beneficially 9,118 shares of the Fund, representing less than 1% of the
outstanding shares of the Fund. Of these shares, 8,818 shares were owned by
Chancellor LGT, which Mr. Guilfoyle is presumed to control.
There were seven meetings of the Board of Trustees held during the fiscal
year ended October 31, 1996. The Board of Trustees has an Audit Committee
comprised of Miss Quigley and Messrs. Anderson, Bayley and Patterson. The
purpose of the Audit Committee is to oversee the annual audit of the Fund and
review the performance of the Fund's independent public accountants. During the
Fund's fiscal year ended October 31, 1996, the Audit Committee met one time.
Each Trustee attended at least 75% of the total number of meetings of the Board
and the Audit Committee.
4
<PAGE>
Each Trustee serves in total as a director or trustee, respectively, of 12
registered investment companies with 42 series managed and/or administered by
Chancellor LGT. The Fund pays each Trustee who is not a director, officer or
employee of Chancellor LGT or any affiliated company an annual fee of $5,000,
plus $300 for each meeting of the Board or any committee of the Board attended
by such Trustee, and reimburses travel and other out-of-pocket expenses incurred
in connection with attendance at such meetings.
The table below summarizes the compensation of the Fund's Trustees for the
fiscal year ended October 31, 1996.
COMPENSATION TABLE
<TABLE>
<CAPTION>
TOTAL
COMPENSATION
COMPENSATION FROM THE FUND
FROM THE AND THE FUND
NAME OF PERSON(1) FUND(2) COMPLEX
- -------------------------------------------------------------- -------------- --------------
<S> <C> <C>
C. Derek Anderson............................................. $ 7,700 $ 80,100
Frank S. Bayley............................................... $ 7,700 $ 80,100
Arthur C. Patterson........................................... $ 7,100 $ 65,100
Ruth H. Quigley............................................... $ 7,700 $ 80,100
</TABLE>
- ------------------------
(1) Messrs. Guilfoyle and Wade will not receive any compensation from the Fund
during the current fiscal year.
(2) The members of the Board of Trustees do not receive any pension or
retirement benefits.
RECOMMENDATION AND REQUIRED VOTE
A plurality of all the votes cast at the Meeting is required for the
election of each of the Class 1 Trustees.
THE BOARD OF TRUSTEES RECOMMENDS
THAT YOU VOTE "FOR" THE TRUSTEES LISTED IN PROPOSAL NO. 1
PROPOSAL NO. 2: RATIFICATION OF SELECTION OF INDEPENDENT ACCOUNTANTS
At a meeting called for the purpose of such selection, the firm of Coopers &
Lybrand L.L.P. was unanimously selected by the Board of Trustees of the Fund,
including the Trustees who are not "interested persons" (within the meaning of
the 1940 Act) of the Fund, as the independent accountants to audit the books and
the accounts of the Fund for the current fiscal year ending October 31, 1997,
and to include its opinion in financial statements filed with the Securities and
Exchange Commission ("SEC"). The Board of Trustees has directed the submission
of this selection to the shareholders for ratification. In addition, as required
by the 1940 Act, the vote of the Board of Trustees is subject to the right of
the Fund, by the vote of a majority of its outstanding voting securities, to
terminate such engagement without penalty at any meeting called for the purpose
of voting thereon. Coopers & Lybrand L.L.P. has advised the Board of Trustees
that it has no financial interest in the Fund. During the Fund's fiscal year
ended October 31, 1996, the professional services rendered by Coopers & Lybrand
L.L.P. included the issuance of an opinion on the financial statements of the
Fund and an opinion on other reports of the Fund filed with the SEC.
Representatives of Coopers & Lybrand L.L.P. are not expected to be present at
the Meeting, but have been given the opportunity to make a statement if they so
desire and will be available should any matter arise requiring their presence.
RECOMMENDATION AND REQUIRED VOTE
In order to ratify the selection of auditors, the affirmative vote of the
holders of a majority of the Fund's shares voting at the Meeting is required.
5
<PAGE>
THE BOARD OF TRUSTEES UNANIMOUSLY RECOMMENDS
THAT YOU VOTE TO RATIFY THE SELECTION OF COOPERS & LYBRAND L.L.P.
OTHER INFORMATION
INFORMATION REGARDING CHANCELLOR LGT
Chancellor LGT and its worldwide asset management affiliates have provided
investment management and/or administration services to institutional, corporate
and individual clients around the world since 1969. The U.S. offices of
Chancellor LGT are located at 50 California Street, 27th Floor, San Francisco,
CA 94111 and 1166 Avenue of the Americas, New York, NY 10036.
Chancellor LGT and its worldwide affiliates, including LGT Bank in
Liechtenstein, compose Liechtenstein Global Trust. Liechtenstein Global Trust is
a provider of global asset management and private banking products and services
to individual and institutional investors. Liechtenstein Global Trust is
controlled by the Prince of Liechtenstein Foundation, which serves as the parent
organization for the various business enterprises of the Princely Family of
Liechtenstein. The principal business address of the Prince of Liechtenstein
Foundation is Herrengasse 12, FL-9490, Vaduz, Liechtenstein. As of June 30,
1997, Chancellor LGT and its worldwide asset management affiliates managed or
administered approximately $63 billion worldwide. In addition to the investment
resources of its San Francisco and New York offices, Chancellor LGT draws upon
the expertise, personnel, data and systems of Liechtenstein Global Trust
including investment offices in London, Hong Kong, Tokyo, Singapore, Toronto,
Sydney and Frankfurt.
EXECUTIVE OFFICERS OF THE FUND
The executive officers of the Fund are listed below. The business address of
each officer is 50 California Street, 27th Floor, San Francisco, California
94111.
William J. Guilfoyle, age 39, is President of the Fund. Mr. Guilfoyle is
also President of GT Global, principal distributor of the GT Global Mutual
Funds. Additional information about Mr. Guilfoyle is provided above.
Helge K. Lee, age 51, is Vice President and Secretary of the Fund. Mr. Lee
has been Executive Vice President of the Asset Management Division of
Liechtenstein Global Trust since October 1996. From February 1996 to October
1996 he served as Senior Vice President, General Counsel and Secretary of
Chancellor LGT, GT Global, GT Services and G.T. Insurance. He served as Vice
President, General Counsel and Secretary of LGT Asset Management, Inc.,
Chancellor LGT, GT Global, GT Services and G.T. Insurance from May 1994 to
February 1996. Mr. Lee was the Senior Vice President, General Counsel and
Secretary of Strong/Corneliuson Management, Inc. and Secretary of each of the
Strong Funds from October 1991 through May 1994.
Kenneth R. Chancey, age 52, is Vice President and Chief Accounting Officer
of the Fund. Mr. Chancey has been Vice President -- Mutual Fund Accounting at
Chancellor LGT since 1992. Mr. Chancey was Vice President of Putnam Fiduciary
Trust Company from 1989 to 1992.
GENERAL INFORMATION
ADMINISTRATOR OF THE FUND
Princeton Administrators, L.P. ("Princeton") administers the Fund's business
and regulatory affairs subject to the supervision of the Board of Trustees.
Princeton is an affiliate of Merrill Lynch, Pierce, Fenner & Smith, Inc. Its
principal address is 800 Scudders Mill Road, Plainsboro, New Jersey 08536.
6
<PAGE>
SHAREHOLDER PROPOSALS
Any Shareholder who wishes to submit a proposal for consideration at the
Fund's next annual shareholder meeting should submit such proposal to the Fund
no later than May 19, 1998. Shareholder proposals that are submitted in a timely
manner will not necessarily be included in the Fund's proxy materials. Inclusion
of such proposals are subject to limitation under the federal securities laws.
SOLICITATION OF PROXIES
The Fund will request broker/dealer firms, custodians, nominees and
fiduciaries to forward proxy material to the beneficial owners of the shares
held of record by such persons. The Fund may reimburse such broker/dealer firms,
custodians, nominees and fiduciaries for their reasonable expenses incurred in
connection with such proxy solicitation. In addition to the solicitation of
Proxies by mail, officers of the Fund and employees of Chancellor LGT and its
affiliates, without additional compensation, may solicit Proxies in person or by
telephone. The costs associated with such solicitation and the Meeting will be
borne by the Fund.
The Fund has retained Shareholder Communications Corporation ("SCC"), a
professional proxy solicitation firm, to assist in the solicitation of proxies.
You may receive a telephone call from this firm concerning this proxy
solicitation. The Fund estimates that SCC will be paid fees of approximately
$7,000 in connection with the solicitation, depending upon the nature and extent
of the services provided.
OTHER MATTERS TO COME BEFORE THE MEETING
The Board of Trustees does not know of any matters to be presented at the
Meeting other than those described in this Proxy Statement, but should any other
matter requiring a vote of Shareholders arise, the Proxyholders will vote
thereon according to their best judgment in the interests of the Fund.
7
<PAGE>
REPORTS TO SHAREHOLDERS
THE FUND WILL FURNISH TO SHAREHOLDERS, WITHOUT CHARGE, A COPY OF THE MOST
RECENT ANNUAL REPORT AND A COPY OF THE MOST RECENT SEMI-ANNUAL REPORT FOLLOWING
SUCH ANNUAL REPORT, ON REQUEST. REQUESTS FOR SUCH REPORTS MAY BE MADE BY WRITING
TO THE FUND AT 50 CALIFORNIA STREET, 27TH FLOOR, SAN FRANCISCO, CALIFORNIA
94111, OR BY CALLING (800) 824-1580.
IN ORDER THAT THE PRESENCE OF A QUORUM AT THE MEETING MAY BE ASSURED, PROMPT
EXECUTION AND RETURN OF THE ENCLOSED PROXY IS REQUESTED. A SELF-ADDRESSED,
POSTAGE-PAID ENVELOPE IS ENCLOSED FOR YOUR CONVENIENCE.
BY ORDER OF THE BOARD OF TRUSTEES,
/s/ HELGE KRIST LEE
HELGE KRIST LEE
SECRETARY
SEPTEMBER 16, 1997
8
<PAGE>
G.T. GLOBAL EASTERN EUROPE FUND
PROXY FOR THE ANNUAL MEETING OF SHAREHOLDERS ON OCTOBER 20, 1997
THIS PROXY IS SOLICITED ON BEHALF OF THE TRUSTEES OF THE FUND
The undersigned hereby appoints William J. Guilfoyle, Helge K. Lee and
Michael A. Silver, and each of them separately, as Proxies, each with full
power of substitution, and hereby authorizes them to represent and to vote,
as designated below, at the Annual Meeting of Shareholders of G.T. Global
Eastern Europe Fund (the "Fund") on October 20, 1997 at 11:00 a.m., San
Francisco time, and at any adjournment thereof, all of the shares of
beneficial interest of the Fund held of record by the undersigned on
September 5, 1997.
WHEN PROPERLY EXECUTED, THIS PROXY WILL BE VOTED IN THE MANNER DIRECTED
HEREIN BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY
WILL BE VOTED FOR THE ELECTION OF THE NOMINEES FOR TRUSTEE AS SET FORTH IN
PROPOSAL 1 AND FOR PROPOSAL 2.
- -------------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND
RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
- -------------------------------------------------------------------------------
If shares are held jointly, each shareholder named should sign. If only one
signs, his or her signature will be binding. If the Shareholder is a
corporation, the President or a Vice President should sign in his or her own
name, indicating title. If the Shareholder is a partnership, a partner should
sign in his or her own name, indicating that he or she is a "Partner".
- -------------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS
- --------------------------- -------------------------------------------
- --------------------------- -------------------------------------------
- --------------------------- -------------------------------------------
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
/ X / PLEASE MARK VOTES
AS IN THIS EXAMPLE
- -------------------------------------------------
G.T. GLOBAL EASTERN EUROPE FUND 1. Election of Trustees FOR ALL WITH- FOR ALL
- ------------------------------------------------- NOMINEES HOLD EXCEPT
C. DEREK ANDERSON / / / / / /
FRANK S. BAYLEY / / / / / /
INSTRUCTIONS: To withhold authority to vote for any individual nominee(s),
Mark box at right if an address change or / / mark the "For All Except" box and strike a line through that nominee's
comment has been noted on the reverse side / / name.
of this card.
FOR AGAINST ABSTAIN
RECORD DATE SHARES: 2. Proposed to ratify the selection of Coopers & Lybrand / / / / / /
L.L.P. as Independent Public Accountants for the / / / / / /
fiscal year ending October 31, 1997.
3. In their discretion, the Proxies are authorized to vote upon such other
business as may properly come before the Meeting or any adjournments thereof.
THE TRUSTEES RECOMMEND THAT YOU VOTE
FOR THE NOMINEES FOR ELECTION AS TRUSTEES AND
FOR THE OTHER PROPOSAL LISTED ABOVE.
-------------
Please be sure to sign and date this Proxy. | Date |
- ----------------------------------------------------------| YOUR VOTE IS VERY IMPORTANT. PLEASE HELP YOUR FUND ELIMINATE THE
| | EXPENSE OF ADDITIONAL MAILINGS BY EXECUTING AND RETURNING THIS PROXY
- ---Shareholder sign here----------Co-owner sign here------- AS SOON AS POSSIBLE. A POSTAGE-PAID BUSINESS REPLY ENVELOPE IS
ENCLOSED FOR YOUR CONVENIENCE.
DETACH CARD DETACH CARD
</TABLE>
