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The FMG Funds & The Russian Federation First Mercantile Fund Change Custody
Hamilton, Bermuda: 14 July 2004 - The Directors of the FMG Funds & The Russian Federation First Mercantile Fund (the "Funds") have advised the Bermuda Stock Exchange (BSX) that the custody and banking for the above mentioned Funds have changed from Bank of NT Butterfield to the Bank of Bermuda Limited effective 1 July 2004.