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 a decrease in
paid-in capital of $63,371,  a decrease in undistributed  net investment loss of
$36,566,  and a decrease in  accumulated  net realized  loss on  investments  of
$26,805. Net assets of the Fund were unaffected by the reclassifications.