1997 REGIONAL FORUMS FOR DIRECTORS IN CHICAGO ON JUNE 12 AND LOS ANGELES ON JUNE 20

March 12, 1997 TO: BOARD OF GOVERNORS No. 19-97 INVESTMENT COMPANY DIRECTORS No. 1-97 PRIMARY CONTACTS - MEMBER COMPLEX (MEMBERS - ONE PER COMPLEX) No. 17-97 RE: 1997 REGIONAL FORUMS FOR DIRECTORS IN CHICAGO ON JUNE 12 AND LOS ANGELES ON JUNE 20 ______________________________________________________________________________ The Investment Company Institute will hold two one-day Regional Forums for investment company directors in 1997. The first will be held in Chicago on Thursday, June 12; the second will be in Los Angeles on Friday, June 20. The Forums will be especially useful for those fund directors who were unable to attend the Institute’s 1996 Directors Conference in Washington, DC. Each Forum will feature two popular presentations from the 1996 Conference -- a panel on Ethics and Fund Directors, moderated by Dawn-Marie Driscoll, an independent director of the Scudder Funds, and a presentation by Professor Peter Tufano of Harvard Business School on "What Makes A Fund Board Effective?" Rounding out the programs will be luncheon speakers (to be announced), and a presentation by the Institute’s Research Department on mutual fund shareholders. Brochures and registration materials will be mailed in April. Attendance at each Forum will be limited to no more than 100 directors, officers, and employees of Institute member firms. For more information about the Forum programs, please contact Angela Goelzer, Assistant Vice President for Director Services at 202/326-5834. For questions regarding registration for a Forum, please contact the Institute’s Conference Division at 202/326-5968. C. Richard Pogue Executive Vice President