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 $56,493,080. Accumulated net realized gain on investments was
decreased  by  the  same  amount.  This  reclassification  includes  $56,493,080
distributed in connection with Fund share  redemptions  which increased  paid-in
capital and reduced  accumulated  net realized gain. Net assets of the Fund were
unaffected by the reclassifications.