<PAGE>
As filed with the Securities
and Exchange Commission
on August 26, 1997
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant /X/
Filed by a party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/X/ Definitive Proxy Statement
/ / Definitive Additional Materials
/ / Soliciting Material Pursuant to Section 240.14a-11(c) or Section
240.14a-12
Income Opportunities Fund 2000, Inc.
P.O. Box 9011
Princeton, New Jersey 08543-9011
- ------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
- ------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ No fee required
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(1)
and 0-11
(1) Title of each class of securities to which transaction applies:
----------------------------------------------------------------------
(2) Aggregate number of securities to which transaction applies:
----------------------------------------------------------------------
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which
the filing fee is calculated and state how it was determined):
----------------------------------------------------------------------
(4) Proposed maximum aggregate value of transaction:
----------------------------------------------------------------------
(5) Total fee paid:
----------------------------------------------------------------------
/ / Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
----------------------------------------------------------------------
(2) Form, Schedule or Registration Statement No.:
----------------------------------------------------------------------
(3) Filing Party:
----------------------------------------------------------------------
(4) Date Filed:
----------------------------------------------------------------------
<PAGE>
INCOME OPPORTUNITIES FUND 2000, INC.
P.O. BOX 9011
PRINCETON, NEW JERSEY 08543-9011
-----------------
NOTICE OF 1997 ANNUAL MEETING OF STOCKHOLDERS
-------------------
OCTOBER 9, 1997
TO THE STOCKHOLDERS OF INCOME OPPORTUNITIES FUND 2000, INC.:
Notice is hereby given that the 1997 Annual Meeting of Stockholders (the
"Meeting") of Income Opportunities Fund 2000, Inc. (the "Fund") will be held at
the offices of Merrill Lynch Asset Management, L.P., 800 Scudders Mill Road,
Plainsboro, New Jersey, on Thursday, October 9, 1997 at 9:30 a.m. for the
following purposes:
(1) To elect a Board of Directors to serve for the ensuing year;
(2) To consider and act upon a proposal to ratify the selection of Ernst
& Young LLP to serve as independent auditors of the Fund for its current
fiscal year; and
(3) To transact such other business as may properly come before the
Meeting or any adjournment thereof.
The Board of Directors has fixed the close of business on August 12, 1997 as
the record date for the determination of stockholders entitled to notice of and
to vote at the Meeting or any adjournment thereof.
A complete list of the stockholders of the Fund entitled to vote at the
Meeting will be available and open to the examination of any stockholder of the
Fund for any purpose germane to the Meeting during ordinary business hours from
and after September 25, 1997, at the office of the Fund, 800 Scudders Mill Road,
Plainsboro, New Jersey. You are cordially invited to attend the Meeting.
STOCKHOLDERS WHO DO NOT EXPECT TO ATTEND THE MEETING IN PERSON ARE REQUESTED TO
COMPLETE, DATE AND SIGN THE ENCLOSED FORM OF PROXY AND RETURN IT PROMPTLY IN THE
ENVELOPE PROVIDED FOR THIS PURPOSE. The enclosed proxy is being solicited on
behalf of the Board of Directors of the Fund.
By Order of the Board of Directors
IRA P. SHAPIRO
SECRETARY
Plainsboro, New Jersey
Dated: August 26, 1997
<PAGE>
PROXY STATEMENT
-------------------
INCOME OPPORTUNITIES FUND 2000, INC.
P.O. BOX 9011
PRINCETON, NEW JERSEY 08543-9011
-----------------
1997 ANNUAL MEETING OF STOCKHOLDERS
-------------------
OCTOBER 9, 1997
INTRODUCTION
This Proxy Statement is furnished in connection with the solicitation of
proxies on behalf of the Board of Directors of Income Opportunities Fund 2000,
Inc., a Maryland corporation (the "Fund"), to be voted at the 1997 Annual
Meeting of Stockholders of the Fund (the "Meeting"), to be held at the offices
of Merrill Lynch Asset Management, L.P. ("MLAM"), 800 Scudders Mill Road,
Plainsboro, New Jersey, on Thursday, October 9, 1997 at 9:30 a.m. The
approximate mailing date of this Proxy Statement is August 28, 1997.
All properly executed proxies received prior to the Meeting will be voted at
the Meeting in accordance with the instructions marked thereon or otherwise as
provided therein. Unless instructions to the contrary are marked, proxies will
be voted FOR the election of the Board of Directors to serve for the ensuing
year, and FOR the ratification of the selection of independent auditors to serve
for the Fund's current fiscal year. Any proxy may be revoked at any time prior
to the exercise thereof by giving written notice to the Secretary of the Fund.
The Board of Directors has fixed the close of business on August 12, 1997 as
the record date (the "Record Date") for the determination of stockholders
entitled to notice of and to vote at the Meeting and at any adjournment thereof.
Stockholders on the Record Date will be entitled to one vote for each share
held, with no shares having cumulative voting rights. As of the Record Date, the
Fund had outstanding 11,057,727 shares of common stock, par value $.10 per share
("Common Stock"). To the knowledge of the Fund, as of the Record Date, no person
is the beneficial owner of more than five percent of the outstanding shares of
Common Stock.
The Board of Directors of the Fund knows of no business other than that
mentioned in Items 1 and 2 of the Notice of Meeting which will be presented for
consideration at the Meeting. If any other matter is properly presented, it is
the intention of the persons named in the enclosed proxy to vote in accordance
with their best judgment.
<PAGE>
ITEM 1. ELECTION OF DIRECTORS
At the Meeting, the Board of Directors will be elected to serve until the
next Annual Meeting of Stockholders and until their successors are elected and
qualified. It is intended that all properly executed proxies will be voted
(unless such authority has been withheld in the proxy) in favor of the six (6)
persons designated as directors to be elected by holders of Common Stock. The
Board of Directors of the Fund knows of no reason why any of these nominees will
be unable to serve, but in the event of any such unavailability, the proxies
received will be voted for such substitute nominee or nominees as the Board of
Directors may recommend.
Certain information concerning the nominees is set forth as follows:
<TABLE>
<CAPTION>
SHARES OF
COMMON STOCK
OF THE FUND
PRINCIPAL OCCUPATIONS BENEFICIALLY
DURING PAST FIVE YEARS DIRECTOR OWNED AT
NAME AND ADDRESS OF NOMINEE AGE AND PUBLIC DIRECTORSHIPS(1) SINCE THE RECORD DATE
---------------------------- --- --------------------------------- -- ---------------
<S> <C> <C> <C>
Joe Grills(1)(2)............ 62 Member of the Committee of 1994 0
183 Soundview Lane Investment of Employee Benefit
New Canaan, Connecticut Assets of the Financial
06840 Executives Institute ("CIEBA")
since 1986; member of CIEBA's
Executive Committee since 1988
and its Chairman from 1991 to
1992; Assistant Treasurer of
International Business Machines
Corporation ("IBM") and Chief
Investment Officer of IBM
Retirement Funds from 1986
until 1993; Member of the
Investment Advisory Committee
of the State of New York Common
Retirement Fund; Member of the
Investment Advisory Committee
of the Howard Hughes Medical
Institute; Director, Duke
Management Company and LaSalle
Street Fund since 1995;
Director, Kimco Realty
Corporation since January 1997.
Walter Mintz(1)(2).......... 68 Special Limited Partner of 1992 0
1114 Avenue of the Cumberland Associates
Americas (investment partnership) since
New York, New York 10036 1982.
</TABLE>
2
<PAGE>
<TABLE>
<CAPTION>
SHARES OF
COMMON STOCK
OF THE FUND
PRINCIPAL OCCUPATIONS BENEFICIALLY
DURING PAST FIVE YEARS DIRECTOR OWNED AT
NAME AND ADDRESS OF NOMINEE AGE AND PUBLIC DIRECTORSHIPS(1) SINCE THE RECORD DATE
---------------------------- --- --------------------------------- -- ---------------
<S> <C> <C> <C>
Robert S. Salomon, 60 Principal of STI Management 1996 0
Jr.(1)(2)................... (investment adviser); Director,
106 Dolphin Cove Quay Common Fund and the Norwalk
Stamford, Connecticut Community Technical College
06902 Foundation; Chairman and CEO of
Salomon Brothers Asset
Management from 1992 until
1995; Chairman of Salomon
Brothers equity mutual funds
from 1992 until 1995; Director
of Stock Research and U.S.
Equity Strategist at Salomon
Brothers from 1975 until 1991.
Melvin R. Seiden(1)(2)...... 66 Director of Silbanc Properties, 1992 0
780 Third Avenue Ltd. (real estate, investment and
Suite 2502 consulting) since 1987;
New York, New York 10017 Chairman and President of
Seiden & de Cuevas, Inc.
(private investment firm) from
1964 to 1987.
Stephen B. Swensrud(1)(2)... 64 Chairman of Fernwood Associates 1992 0
24 Federal Street (financial consultants) since
Suite 400 1975.
Boston, Massachusetts
02110
</TABLE>
3
<PAGE>
<TABLE>
<CAPTION>
SHARES OF
COMMON STOCK
OF THE FUND
PRINCIPAL OCCUPATIONS BENEFICIALLY
DURING PAST FIVE YEARS DIRECTOR OWNED AT
NAME AND ADDRESS OF NOMINEE AGE AND PUBLIC DIRECTORSHIPS(1) SINCE THE RECORD DATE
---------------------------- --- --------------------------------- -- ---------------
<S> <C> <C> <C>
Arthur Zeikel(1)(3)......... 65 President of Fund Asset 1992 0
P.O. Box 9011 Management, L.P. ("FAM") (which
Princeton, New Jersey term as used herein includes
08543-9011 its corporate predecessors)
since 1977; President of MLAM
(which term as used herein
includes its corporate
predecessors) since 1977;
President and Director of
Princeton Services, Inc.
("Princeton Services") since
1993; Executive Vice President
of Merrill Lynch & Co., Inc.
("ML&Co.") since 1990; Director
of Merrill Lynch Funds
Distributor, Inc. ("MLFD")
since 1977.
</TABLE>
- ------------------------------
(1) Each of the nominees is a director, trustee or member of an advisory board
of certain other investment companies for which FAM or MLAM acts as
investment adviser.
(2) Member of the Audit Committee of the Board of Directors.
(3) Interested person, as defined in the Investment Company Act of 1940, as
amended (the "Investment Company Act"), of the Fund.
4
<PAGE>
COMMITTEES AND BOARD OF DIRECTORS' MEETINGS. The Board of Directors has a
standing Audit Committee, which consists of the Directors who are not
"interested persons" of the Fund within the meaning of the Investment Company
Act. The principal purpose of the Audit Committee is to review the scope of the
annual audit conducted by the Fund's independent auditors and the evaluation by
such auditors of the accounting procedures followed by the Fund. The
non-interested Directors have retained independent legal counsel to assist them
in connection with these duties. The Board of Directors does not have a
nominating committee.
During the year ended December 31, 1996, the Board of Directors and the
Audit Committee each held four meetings. Each of the Directors then in office
attended at least 75% of the aggregate of the total number of meetings of the
Board of Directors and, if a member the total number of meetings of the Audit
Committee held during such period.
INTERESTED PERSONS. The Fund considers Mr. Zeikel to be an "interested
person" of the Fund within the meaning of Section 2(a)(19) of the Investment
Company Act as a result of the positions he holds with FAM and its affiliates.
Mr. Zeikel is the President of the Fund and the President of FAM and MLAM.
COMPLIANCE WITH SECTION 16(A) OF THE SECURITIES EXCHANGE ACT OF
1934. Section 16(a) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), requires the Fund's officers, directors and persons who own
more than ten percent of a registered class of the Fund's equity securities, to
file reports of ownership and changes in ownership on Forms 3, 4 and 5 with the
Securities and Exchange Commission (the "SEC") and the New York Stock Exchange.
Officers, directors and greater than ten percent stockholders are required by
SEC regulations to furnish the Fund with copies of all Forms 3, 4 and 5 they
file.
Based solely on the Fund's review of the copies of such forms, and
amendments thereto, furnished to it during or with respect to its most recent
fiscal year, and written representations from certain reporting persons that
they were not required to file Form 5 with respect to the most recent fiscal
year, the Fund believes that all of its officers, directors, greater than ten
percent beneficial owners and other persons subject to Section 16 of the
Exchange Act because of the requirements of Section 30 of the Investment Company
Act, (I.E., any advisory board member, investment adviser or affiliated person
of the Fund's investment adviser), have complied with all filing requirements
applicable to them with respect to transactions during the Fund's most recent
fiscal year, except that a Form 4 disclosing the purchase of 2,600 shares of
Common Stock of the Fund on November 6, 1996 and 5,000 shares of Common Stock of
the Fund on November 15, 1996 by Terry K. Glenn, the Fund's Executive Vice
President, was inadvertently filed late. A Form 4 was filed on behalf of Mr.
Glenn on December 11, 1996.
COMPENSATION OF DIRECTORS. FAM, the investment adviser, pays all
compensation of all officers of the Fund and all Directors of the Fund who are
affiliated with ML&Co. or its subsidiaries. The Fund pays each Director not
affiliated with the investment (each a "non-affiliated Director") adviser a fee
of $2,000 per year plus $500 per regular meeting attended, together with such
Director's actual out-of-pocket expenses relating to attendance at meetings. The
Fund also pays each member of its Audit Committee a fee of $2,000 per year plus
$500 per meeting attended, together with such Director's out-of-pocket expenses
relating to attendance at such meetings. These fees and expenses aggregated
$38,890 for the year ended December 31, 1996.
5
<PAGE>
The following table sets forth for the fiscal year ended December 31, 1996
compensation paid by the Fund to the non-affiliated Directors and, for the
calendar year ended December 31, 1996, the aggregate compensation paid by all
investment companies advised by FAM and its affiliate, MLAM ("FAM/MLAM Advised
Funds"), to the non-affiliated Directors.
<TABLE>
<CAPTION>
PENSION OR RETIREMENT AGGREGATE COMPENSATION FROM
BENEFITS ACCRUED AS FUND AND FAM/MLAM
COMPENSATION PART ADVISED FUNDS PAID TO
NAME OF DIRECTOR FROM FUND OF FUND EXPENSES DIRECTORS
- ------------------------------------------- ------------- ----------------------- -----------------------------
<S> <C> <C> <C>
Joe Grills(1) $ 8,000 None $ 167,000
Walter Mintz(1) $ 8,000 None $ 164,000
Robert S. Salomon, Jr.(1) $ 7,500 None $ 187,167
Melvin R. Seiden(1) $ 8,000 None $ 164,000
Stephen B. Swensrud(1) $ 7,000 None $ 154,250
</TABLE>
- ------------------------
(1) The Directors serve on the boards of FAM/MLAM Advised Funds as follows: Mr.
Grills (19 registered investment companies consisting of 47 portfolios); Mr.
Mintz (18 registered investment companies consisting of 37 portfolios); Mr.
Salomon (18 registered investment companies consisting of 37 portfolios);
Mr. Seiden (18 registered investment companies consisting of 37 portfolios);
and Mr. Swensrud (21 registered investment companies consisting of 52
portfolios).
OFFICERS OF THE FUND. The Board of Directors has elected eight officers of
the Fund. The following sets forth information concerning each of these
officers:
<TABLE>
<CAPTION>
OFFICER
NAME AND PRINCIPAL OCCUPATION OFFICE AGE SINCE
- -------------------------------------------------------------------------------- ----------------- --- -----------
<S> <C> <C> <C>
Arthur Zeikel................................................................... President 65 1992
President of FAM since 1977; President of MLAM since 1977; President and
Director of Princeton Services since 1993; Executive Vice President of ML&Co.
since 1990; Director of MLFD since 1977.
Terry K. Glenn.................................................................. Executive Vice 56 1992
Executive Vice President of FAM and MLAM since 1983; Executive Vice President President
and Director of Princeton Services since 1993; President of MLFD since 1986
and Director thereof since 1991; President of Princeton Administrators, L.P.
since 1988.
Joseph T. Monagle, Jr........................................................... Senior Vice 49 1997
Senior Vice President of FAM and MLAM since 1990. President
Jeffrey B. Hewson............................................................... Vice President 46 1992
Vice President of MLAM since 1989; Portfolio Manager of MLAM since 1985.
Gregory M. Maunz................................................................ Vice President 44 1992
Vice President of MLAM since 1985 and Portfolio Manager since 1984.
Donald C. Burke................................................................. Vice President 37 1993
Vice President and Director of Taxation of MLAM since 1990.
</TABLE>
6
<PAGE>
<TABLE>
<CAPTION>
OFFICER
NAME AND PRINCIPAL OCCUPATION OFFICE AGE SINCE
- -------------------------------------------------------------------------------- ----------------- --- -----------
<S> <C> <C> <C>
Gerald M. Richard............................................................... Treasurer 48 1992
Senior Vice President and Treasurer of FAM and MLAM since 1984; Senior Vice
President and Treasurer of Princeton Services since 1993; Treasurer of MLFD
since 1984 and Vice President thereof since 1981.
Ira P. Shapiro.................................................................. Secretary 34 1996
Vice President of FAM and MLAM since 1997; Attorney associated with FAM and
MLAM since 1993. Prior to 1993, Mr. Shapiro was an attorney in private
practice.
</TABLE>
SHARE OWNERSHIP. At the Record Date, the Directors and officers of the Fund
as a group (13 persons) owned an aggregate of less than 1% of the Common Stock
of the Fund outstanding at such date. At such date, Mr. Zeikel, a Director and
officer of the Fund, and the other officers of the Fund owned an aggregate of
less than 1% of the outstanding shares of common stock of ML&Co.
ITEM 2. SELECTION OF INDEPENDENT AUDITORS
The Board of Directors of the Fund, including a majority of the Directors
who are not interested persons of the Fund, has selected the firm of Ernst &
Young LLP ("E&Y") to examine the financial statements of the Fund for the
current fiscal year. The Fund knows of no direct or indirect financial interest
of E&Y in the Fund. Such appointment is subject to ratification or rejection by
the stockholders of the Fund. Unless a contrary specification is made, the
accompanying proxy will be voted in favor of ratifying the selection of such
auditors.
E&Y also acts as independent auditors for several other investment companies
for which FAM and its affiliate, MLAM acts as investment adviser. The fees
received by E&Y from these other entities are substantially greater, in the
aggregate, than the total fees received by it from the Fund. The Board of
Directors of the Fund considered the fact that E&Y has been retained as the
independent auditors for the other entities described above in its evaluation of
the independence of E&Y with respect to the Fund.
Representatives of E&Y are expected to be present at the Meeting and will
have the opportunity to make a statement if they so desire and to respond to
questions from stockholders.
ADDITIONAL INFORMATION
The expenses of preparation, printing and mailing of the enclosed form of
proxy and accompanying Notice and Proxy Statement will be borne by the Fund. The
Fund will reimburse banks, brokers and others for their reasonable expenses in
forwarding proxy solicitation material to the beneficial owners of the shares of
the Fund. The Fund also may hire proxy solicitors at the expense of the Fund.
In order to obtain the necessary quorum at the Meeting (i.e., a majority of
the shares of the Fund entitled to vote at the Meeting, present in person or by
proxy), supplementary solicitation may be made by mail, telephone, telegraph or
personal interview by officers of the Fund. It is anticipated that the cost of
such supplementary solicitation, if any, will be nominal.
7
<PAGE>
Approval of Items 1 and 2 will require the affirmative vote of the holders
of a majority of the Fund's Common Stock, voting in person or by proxy, at a
meeting in which a quorum is present and duly constituted.
Broker-dealer firms, including Merrill Lynch, Pierce Fenner & Smith
Incorporated ("Merrill Lynch") holding Fund shares in "street name" for the
benefit of their customers and clients will request the instructions of such
customers and clients on how to vote their shares on each Item before the
Meeting. The Fund understands that, under the rules of the New York Stock
Exchange, such broker-dealer firms may, without instructions from their
customers and clients, grant authority to the proxies designated to vote on the
election of Directors (Item 1) and ratification of the selection of independent
auditors (Item 2) if no instructions have been received prior to the date
specified in the broker-dealer firm's request for voting instructions.
Accordingly, the Fund will include shares held of record by broker-dealers as to
which such authority has been granted in its tabulation of the total number of
votes present for purposes of determining whether the necessary quorum of
shareholders exists. Proxies that are returned but that are marked "abstain" or
on which a broker-dealer has declined to vote on any proposal ("broker
non-votes") will be counted as present for the purposes of a quorum. Merrill
Lynch has advised the Fund that it intends to exercise discretion over shares
held in its name for which no instructions have been received by voting such
shares in the same proportions as it has voted shares for which it has received
instructions. Abstentions and broker non-votes will not be counted as votes
cast. Abstentions and broker non-votes, therefore, will have no effect on the
vote on Item 1 or Item 2.
ADDRESS OF INVESTMENT ADVISER
The principal office of FAM is located at 800 Scudders Mill Road,
Plainsboro, New Jersey 08536.
ANNUAL REPORT DELIVERY
The Fund will furnish, without charge, a copy of its annual report for the
fiscal year ended December 31, 1996 to any stockholder upon request. Such
requests should be directed to Income Opportunities Fund 2000, Inc., P.O. Box
9011, Princeton, New Jersey 08543-9011, Attention: Ira P. Shapiro, Secretary, or
to 1-800-456-4587 ext. 123.
STOCKHOLDER PROPOSALS
If a stockholder intends to present a proposal at the 1998 Annual Meeting of
Stockholders of the Fund, which is anticipated to be held in October 1998, and
desires to have the proposal included in the Fund's proxy statement and form of
proxy for that meeting, the stockholder must deliver the proposal to the offices
of the Fund by April 28, 1998.
By Order of the Board of Directors
IRA P. SHAPIRO
SECRETARY
Dated: August 26, 1997
8
<PAGE>
COMMON STOCK
INCOME OPPORTUNITIES FUND 2000, INC.
P.O. BOX 9011
PRINCETON, NEW JERSEY 08543-9011
P R O X Y
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
The undersigned hereby appoints Arthur Zeikel, Terry K. Glenn and Ira P.
Shapiro as proxies, each with the power to appoint his substitute, and hereby
authorizes each of them to represent and to vote, as designated on the
reverse hereof, all the shares of Common Stock of Income Opportunities Fund
2000, Inc. (the "Fund") held of record by the undersigned on August 12, 1997
at the annual meeting of stockholders of the Fund to be held on October 9,
1997 or any adjournment thereof.
THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER DIRECTED
HEREIN BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE, THIS PROXY
WILL BE VOTED FOR PROPOSALS 1 AND 2.
(Continued and to be signed on the reverse side)
<PAGE>
1. To elect a Board FOR all nominees WITHHOLD AUTHORITY
of Directors to serve listed below to vote for all
for the ensuing year. (except as marked to nominees listed
the contrary below) / / below / /
(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE, STRIKE
A LINE THROUGH THE NOMINEE'S NAME IN THE LIST BELOW.)
JOE GRILLS, WALTER MINTZ, ROBERT B. SALOMON, JR., MELVIN R. SEIDEN,
STEPHEN B. SWENSRUD, ARTHUR ZEIKEL
2. Proposal to ratify the selection of Ernst & Young LLP as the independent
auditors of the Fund to serve for the current fiscal year
FOR / / AGAINST / / ABSTAIN / /
3. In the discretion of such proxies, upon such other business as may properly
come before the meeting or any adjournment thereof.
Please sign exactly as name appears hereon. When shares are held by joint
tenants, both should sign. When signing as attorney or as executor,
administrator, trustee or guardian, please give full title as such. If a
corporation, please sign in full corporate name by president or other
authorized officer. If a partnership, please sign in partnership name by
authorized persons.
Dated: _______________________________________________________________, 1997
X __________________________________________________________________________
Signature
X __________________________________________________________________________
Signature, if held jointly
PLEASE MARK BOXES / / OR /X/ IN BLUE OR BLACK INK. DATE AND RETURN THE PROXY
CARD PROMPTLY USING THE ENCLOSED ENVELOPE.
