Pierre H.R. Daviron has taken over the portfolio management duties for the closed-end France Growth Fund. Daviron, one of the original directors of the fund takes the titles of president and chief investment officer for the fund. "We are looking to provide our shareholders with effective active portfolio management," said Jean A. Arvis, chairman of the Fund said.

Incumbent investment Adviser, Credit Agricole Asset Management US Advisory Services, gave notice of its intent to resign as adviser to the Fund in late August. The Fund expects to effect the internalization on or about October 29, 2002. 

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