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NAIC GROWTH FUND DECLARES DIVIDEND

 ROYAL OAK, Mich., May 24 /PRNewswire/ -- The board of directors of the NAIC Growth Fund, Inc. (NASDAQ: GROW) has declared a semi-annual dividend of $.04 per share to shareowners of record as of July 7, 1993, payable Aug. 2.
 Established on July 2, 1990, by the National Association of Investors Corporation (NAIC), the fund is listed on the National Association of Securities Dealers Automated Quotation system (NASDAQ) as "GROW."
 Following NAIC's philosophy of investing, the fund's objective is long-term growth with little regard to short-term market fluctuations. Investment decisions are based on the principles and philosophy of NAIC: invest regularly whether the market is high or low; reinvest earnings; buy securities of companies whose sales and earnings are growing faster than the total economy; and invest in a variety of industries and in different size companies.
 NAIC is a national, not-for-profit, volunteer organization of investment clubs and individual investors, based in Royal Oak. The association currently has more than 201,000 members representing some 9,800 investment clubs. The average NAIC member invests $44 per month in an investment club. The aggregate monthly NAIC membership investment of new money exceeds $25 million. The total holdings of NAIC members exceed $30 billion.
 The NAIC Growth Fund, with a net asset value of more than $7.5 million, is a closed-end mutual fund. Its shares are available to both NAIC members and non-members.
 -0- 5/24/93
 /CONTACT: Kathy Loehrig or Linda Pollock of Anne Klein & Associates, 609-778-0380, for NAIC/
 (GROW)


CO: NAIC Growth Fund, Inc. ST: Michigan IN: FIN SU: DIV

MP -- PH028 -- 1787 05/24/93 15:00 EDT
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Publication:PR Newswire
Date:May 24, 1993
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