The Fund adjusts the  classification of distributions to shareholders to reflect
the differences between financial statement amounts and distributions determined
in accordance with income tax  regulations.  Accordingly,  during the year ended
December 31,  2000,  amounts  have been  reclassified  to reflect an increase in
paid-in capital of $1,421,939, a decrease in undistributed net investment income
of  $27,144,460,  and a decrease in accumulated net realized loss on investments
of  $25,722,521.   This  reclassification  includes  $1,421,939  distributed  in
connection  with Fund share  redemptions  which  increased  paid-in  capital and
increased  accumulated net realized loss. Net assets of the Fund were unaffected
by the reclassifications.