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BAKER FENTRESS ANNOUNCES PARTIAL CAPITAL GAIN DISTRIBUTION

 CHICAGO, Sept. 10 /PRNewswire/ -- Baker, Fentress & Company (NYSE: BKF), a closed-end fund, on Sept. 9, 1993, declared a long-term capital gain distribution of its remaining undistributed 1992 realized gain in the aggregate amount of $13,916,243. On Nov. 4, 1993, the directors expect to declare a distribution from 1993 long-term capital gain.
 Even though declared on different dates, both distributions will be paid on Dec. 21, 1993, to shareholders of record Nov. 30, 1993. The capital gain distribution payable Dec. 21, 1993, is being declared in two parts to satisfy the requirements of the Internal Revenue Code.
 The company's practice is to make calendar year distributions totaling at least 8 percent of average net assets for the period ending Oct. 31 of that year. In December shareholders will have the option of receiving the capital gain distribution in one of three forms: all in company shares, all in cash, or a combination of 70 percent company shares and 30 percent cash.
 -0- 9/10/93
 /CONTACT: James P. Koeneman, 312-236-9190, or Phillip A. Urion,


312-346-0123, for Baker Fentress/
 (BKF)


CO: Baker, Fentress & Company ST: Illinois IN: FIN SU:

SM -- NY055 -- 0821 09/10/93 14:53 EDT
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Publication:PR Newswire
Date:Sep 10, 1993
Words:198
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