<PAGE>
FORM 4
[ ] Check this box if no longer subject
to Section 16. Form 4 or Form 5
obligations may continue. See
Instructions 1(b).
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
_______________________________________________________________________________
1. Name and Address of Reporting Person
Bankgesellschaft Berlin AG
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(Last) (First) (Middle)
Alexanderplatz 2
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(Street)
D-10178 Berlin Germany
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(City) (State) (Zip)
_______________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
The Growth Fund of Spain, Inc. (GSP)
_______________________________________________________________________________
3. IRS or Social Security Number of Reporting Person (Voluntary)
XXX-XX-XXXX
_______________________________________________________________________________
4. Statement for Month/Year
November 1997
_______________________________________________________________________________
5. If Amendment, Date of Original (Month/Year)
_______________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] 10% Owner
[ ] Director
[ ] Officer (give title below)
[ ] Other (specify below)
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_______________________________________________________________________________
7. Individual or Joint/Group Filing
[X] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
_______________________________________________________________________________
Page 1
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FORM 4 (continued)
<TABLE>
<CAPTION>
TABLE I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------
1. 2. 3. 4. 5. 6. 7.
- --------------------- -------- ---------- ------------------------------ ----------- ---------- ----------
Amount of Owner-
Securities ship
Trans- Trans- Securities Acquired (A) Beneficially Form:
action action or Disposed of (D) Owned at Direct Nature of
Date Code (Instr. 3, 4 and 5) End of (D) or Indirect
Title of (Month/ (Instr. 8) ---------------------------- Month Indirect Beneficial
Security Day/ ---------- Amount (A) or Price (Instr. (I) Ownership
(Instr. 3) Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4)
- --------------------- -------- ---- ---- ----------- ------ --------- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value
$.01 per share 11/12/97 P 10,000 A $15.3750
Common Stock, par value
$.01 per share 11/12/97 P 50,000 A $14.9875
Common Stock, par value
$.01 per share 11/13/97 P 27,000 A $15.0625
Common Stock, par value
$.01 per share 11/14/97 P 8,300 A $15.1875
Common Stock, par value
$.01 per share 11/17/97 P 70,000 A $15.5000
Common Stock, par value
$.01 per share 11/19/97 P 10,000 A $15.6875
Common Stock, par value
$.01 per share 11/20/97 P 800 A $16.0625
Common Stock, par value
$.01 per share 11/21/97 P 4,000 A $16.1250
Common Stock, par value
$.01 per share 11/25/97 P 22,700 A $16.1184 1,813,000 D
</TABLE>
* If the Form is filed by more than one reporting person, see
Instruction 4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 2
<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
TABLE II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g. puts, calls, warrants, options, convertible securities)
- ------------------------------------------------------------------------------------------------------------------------------
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
- ---------- -------- -------- -------- ---------- ------------ -------------- ------ ---------- --------- ----------
Title and Ownership
Number of Date Exer- Amount of Form of
Derivative cisable and Underlying Number of Deriv-
Securities Expiration Securities Price Derivative ative
Conver- Trans- Acquired (A Date (Month/ (Instr. 3 of Securities Security:
sion or Trans- action or Disposed Day/Year) and 4) Deriv- Benefi- Direct
Exercise action Code of (D) ------------- ---------------- ative cially (D) or Nature of
Title of Price of Date (Instr. (Instr. 3, Date Amount Secur- Owned at Indirect Indirect
Derivative Deriv- (Month/ 8) 4 and 5) Exer- Expir- or Num- ity End of (I) Beneficial
Security ative Day/ -------- ---------- cis- ation ber of (Instr. Month (Instr. Ownership
(Instr. 3) Security Year) Code V (A) (D) able Date Title Shares 5) (Instr. 4) 4) (Instr. 4)
- ---------- -------- -------- ---- --- ---- ---- ----- ---- ----- ------ ------ ---------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Put (obliga- $15.00 11/13/97 10 11/13/97 12/20/97 Common 100 $0.9375
tion to buy Stock
Put (obliga- $17.50 11/13/97 10 11/13/97 12/20/97 Common 100 3.0000
tion to buy Stock
Put (obliga- $17.50 11/19/97 130 11/19/97 12/20/97 Common 1,300 2.3125
tion to buy Stock
Put (obliga- $17.50 11/19/97 40 11/19/97 3/21/98 Common 400 2.6875
tion to buy Stock
Put (obliga- $17.50 11/20/97 20 11/20/97 12/20/97 Common 200 2.0000
tion to buy Stock
Put (obliga- $17.50 11/20/97 20 11/20/97 12/20/97 Common 200 1.9375
tion to buy Stock
Put (obliga- $17.50 11/24/97 120 11/24/97 12/20/97 Common 1,200 2.0625
tion to buy Stock
Put (obliga- $17.50 11/24/97 20 11/24/97 12/20/97 Common 200 1.8750
tion to buy Stock
Put (obliga- $17.50 11/26/97 60 11/26/97 12/20/97 Common 600 1.8750
tion to buy Stock
Put (obliga- $17.50 11/28/97 10 11/28/97 12/20/97 Common 100 1.8125
tion to buy Stock
</TABLE>
Explanation of Responses:
- -----------------------------------------------------
- -----------------------------------------------------
Bankgesellschaft Berlin AG
By: /s/ Bartho Schroeder December 10, 1997
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Name: Bartho Schroeder Date
Title: Director
By: /s/ Dirk Kipp December 10, 1997
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Name: Dirk Kipp Date
Title: Director
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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