INVESTMENT COMPANY INSTITUTE 1995 INVESTMENT COMPANY DIRECTORS CONFERENCE AND NEW DIRECTORS WORKSHOP - SEPTEMBER 20-22 IN WASHINGTON, D.C.

June 30, 1995 TO: BOARD OF GOVERNORS No. 56-95 INVESTMENT COMPANY DIRECTORS No. 3-95 MEMBERS - ONE PER COMPLEX No. 61-95 RE: INVESTMENT COMPANY INSTITUTE 1995 INVESTMENT COMPANY DIRECTORS CONFERENCE AND NEW DIRECTORS WORKSHOP - SEPTEMBER 20-22 IN WASHINGTON, D.C. ______________________________________________________________________________ The Investment Company Institute is holding its Second Annual Investment Company Directors Conference, September 21-22, 1995 at the Stouffer Renaissance Mayflower Hotel in Washington, D.C. The Institute also will hold a half-day New Directors Workshop immediately preceding the Conference, on Wednesday afternoon, September 20, 1995. Enclosed is the Preliminary Program for those interested in registering for either or both of these events. The Conference reflects the importance to the industry and shareholders of well-informed boards, and the increasing challenges and complexities that fund directors face in representing the interests of fund shareholders. The Conference will feature a varied program of industry experts, government officials, and experienced fund directors sharing their perspectives on issues of interest and concern to the fund director community. Conference attendees will participate in small discussion groups and in a special presentation by professors from Harvard Business School and Babson College. The Workshop will present topics of particular interest to directors who are comparatively new to the fund industry. Attendance at the Conference and Workshop will be limited to directors, officers and employees of Institute members, and will be limited to a total of 250 persons at the Conference and 100 at the Workshop. Advance registration for the Conference and Workshop will be open only to currently serving directors of Institute member investment companies through August 18. Registration forms received from other Institute member representatives prior to August 18 will be held until that date and then processed on a first-come, first-served basis, as space permits. Registrations will be confirmed by mail. Registration for the Conference includes luncheon and dinner on Thursday, September 21 and a luncheon on Friday, September 22. Registration for either the Conference or the Workshop includes a reception on Wednesday evening, September 20. Because hotel space is expected to be very tight in Washington during September, we suggest that you call the Mayflower Hotel for reservations as soon as possible (202-347-3000). Matthew P. Fink President Enclosure