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SWGI Russian Growth Fund Announces Changes

13 August 2001

Hamilton, Bermuda: 13 August, 2001- SWGI Russian Growth Fund has advised the Bermuda Stock Exchange (BSX) that Millennium Wealth Management AG has been appointed the Administrator and Registrar of the Fund and that Coutts Bank (Switzerland) Ltd. has been appointed the Custodian of the Fund.

The Fund also advised the BSX that Mr. Allan Dennis Cooper and Mr. Alexander Eugene Strochenko have been appointed Directors.