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PIPER JAFFRAY COMPANIES, MIDLAND WALWYN INTRODUCE UNIQUE PRICING FOR NEW HERCULES FUNDS

 MINNEAPOLIS, Nov. 30 /PRNewswire/ -- A new broker-distributed open- end mutual fund group offered to investors with no front-end or back-end sales charges has been introduced by Hercules International Management L.L.C., a joint venture of Piper Jaffray Companies Inc. (NYSE: PJC) and Canada's Midland Walwyn Capital, Inc., it was announced today.
 The Hercules(TM) Funds, which will invest primarily in international markets, feature a unique pricing structure that allows investors to purchase shares at net asset value (NAV), while still providing a commission payment to the investment professionals who distribute the products. The funds will be distributed in Canada by Midland Walwyn and in the United States by Piper Jaffray Inc. and a select number of regional brokerage firms.
 "With more than 4,000 funds in the marketplace, we believe individuals need the guidance provided by an investment professional more than ever," stated Daniel Geraci, chairman of the board of Hercules International.
 "At the same time, the cost of acquiring shares in a mutual fund has clearly become an important issue," Geraci continued. "The Hercules funds are designed to give the investing public the best of both worlds -- the advice and counsel of a full-service investment professional and an investment vehicle without a front-end or back-end sales charge."
 An investment professional who sells shares in the Hercules funds will receive a two percent commission paid jointly by Hercules and the sub-adviser of the individual fund in which the shares are purchased. In addition, there is a trailing 50 basis points commission (12b-1) distributed annually on each of the funds with the exception of the Global Short-Term Fund, where the trailing commission is 25 basis points, and 30 basis points in the World Bond Fund.
 "Because the investor pays NAV for the shares, 100 percent of his or her money is put to work immediately in the fund. With the standard 'load' fund, the four percent or so commission the individual pays to the broker can never be recaptured as a working asset for that investor," said Beverly Zimmer, president of Hercules International.
 Maximum expense ratios for the equity funds are expected to average approximately two percent for the first year, according to Zimmer. The maximum expense ratios for the World Bond and Global Short-Term funds will be 1.80 percent and 1.25 percent, respectively.
 The Hercules Funds consist of:
 -- North American Growth and Income Fund, investing in U.S., Canadian, and Mexican securities. Advisers: AGF Investment Advisors, Inc. (Toronto) Acci Worldwide S.A. de C.V. (Mexico City), and Piper Capital Management (Minneapolis).
 -- European Value Fund, investing primarily in European equities. Adviser: Pictet International Management Limited (London).
 -- Latin American Value Fund, investing primarily in equity securities of Latin American issuers. Adviser: Bankers Trust Company (New York).
 -- Pacific Basin Value Fund, investing primarily in securities of issuers in countries of the Pacific Rim. Adviser: Edinburgh Fund Managers plc (Edinburgh, Scotland).
 -- World Bond Fund, investing in debt securities of issuers located around the world. Adviser: Salomon Brothers Asset Management Limited (London).
 -- Global Short-Term Fund, investing primarily in short-term securities of issuers around the world. Advisor: Salomon Brothers Asset Management Limited (London).
 Hercules International Management is based in Minneapolis.
 Midland Walwyn Capital Inc. is headquartered in Toronto. With nearly $13 billion in assets under administration and 900 financial advisers in 75 offices in all 10 Canadian provinces, it is Canada's largest financial services firm serving the individual investor.
 Piper Jaffray Companies Inc. is the parent company of Piper Jaffray Inc., an investment firm with 73 retail sales offices in 17 Midwest, Mountain, Southwest, and Pacific Coast states. Piper Capital Management, a subsidiary of Piper Jaffray Companies, manages more than $12 billion in mutual fund and institutional assets. Founded in 1895, Piper Jaffray is a member of the New York Stock Exchange and other major stock exchanges.
 Contact Hercules Funds Inc. at 800-584-1317 for a free prospectus that contains more complete information about these funds, including fees and expenses.
 -0- 11/30/93
 /NOTE TO EDITORS: A media kit with additional background information on Hercules International Management, Midland Walwyn and Piper Jaffray Companies is available upon request. Call 612-342-6583.
 /CONTACT: Marie Uhrich of Piper Jaffray Companies, 800-333-6000/
 (PJC)


CO: Piper Jaffray Companies, Inc.; Midland Walwyn ST: Minnesota IN: FIN SU:

DB-DS -- MN005 -- 8711 11/30/93 11:54 EST
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Date:Nov 30, 1993
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