<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
STATEMENT BY REGISTERED CLOSED-END INVESTMENT COMPANY
WITH RESPECT TO PURCHASES OF ITS OWN SECURITIES PURSUANT
TO RULE N-23C-1 DURING THE LAST CALENDAR MONTH
(See rules and instructions on back of this form.
If acknowledgment is desired, file this form with the Commission
in triplicate.)
REPORT FOR CALENDAR MONTH ENDING: May 2000
The France Growth Fund, Inc.
(Name of registered closed-end investment company)
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<TABLE>
<CAPTION>
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Approximate Asset
Number of Value or approximate
Shares asset coverage per
Date of each Identification of Purchased Price per Share share at time of Name of Seller or
Transaction Security purchase of Seller's Broker
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<S> <C> <C> <C> <C> <C>
5/26/00 Common Stock 9000 13.0444 15.57 PaineWebber, Inc.
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5/30/00 Common Stock 9000 13.9375 16.13 PaineWebber, Inc.
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5/31/00 Common Stock 9000 14.000 16.48 PaineWebber, Inc.
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</TABLE>
REMARKS: None The France Growth Fund, Inc
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Name of Registrant
By: /s/ Frederick J. Schmidt
Name: Frederick J. Schmidt
Title: Vice President and Treasurer
