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France Growth Fund, INC.
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PRESS RELEASE

June 20, 2002

Directors and Officers of the France Growth Fund Conspire to
Change Election Outcome

Phillip Goldstein, a shareholder of the France Growth Fund (the
"Fund") (NYSE:FRF), today charged the directors and officers of
the Fund with conspiring to tamper with an election that took
place at the Fund's annual meeting on June 18, 2002.  At the
meeting, shareholders voted to defeat a series of proposals that
would have radically altered the Fund's objective and management
structure and dramatically increased the annual investment
advisory fee.  The only proposal approved was a shareholder
proposal to expedite the process to ensure that the Fund's shares
trade at net asset value.

Rather than respect the will of the shareholders, the Fund's
directors and officers conspired to keep the polls open with
respect to the restructuring proposals in order to gain time to
solicit several large shareholders to change their votes.  To
this end, the Fund has announced a coercive self-tender offer
that would only be commenced if shareholders vote to approve the
proposals when the illegally adjourned meeting reconvenes.

Mr. Goldstein, a director-nominee who attended the meeting but
who was not elected, stated: "Adjourning a meeting because the
result is not to your liking is a blatant breach of fiduciary
duty.  In light of the recent scandals at Enron, Tyco, Adelphia
and other corporations, it is especially shocking that the Fund's
directors and officers would even contemplate attempting to
change the outcome of a shareholder election after the fact."

Mr. Goldstein also announced that he received a belated offer of
a directorship in return for voting in favor of the defeated
proposals when the illegally adjourned meeting reconvenes.  He
commented: "It is too little and much too late.  The time for
negotiations is before the votes are cast, not after.  The
meeting is over and we all have to abide by the results."

For additional information please contact Phillip Goldstein at
(914) 747-5262 or at oplp@att.net.