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RBB EQUITY GROWTH & INCOME FUND, NO. 1 PERFORMER IN LIPPER CATEGORY, TO ELIMINATE SALES LOAD, CHANGE NAME TO WARBURG PINCUS GROWTH & INCOME FUND

 NEW YORK, July 30 /PRNewswire/ -- RBB Equity Growth & Income Fund (NASDAQ: RBEGX), the top performing fund in its Lipper category for the past two quarters, is now available on a no-load basis and without the payment of any 12b-1 fee.
 The Fund's board of directors also announced that the Fund will now be named Warburg Pincus Growth & Income Fund, linking it to the $1.3 billion Warburg Pincus family of no-load mutual funds. The Fund will retain its current NASDAQ symbol, RBEGX, but daily net asset values will now appear in mutual fund tables under Warburg Pincus Funds.
 Anthony G. Orphanos, managing director of Warburg Pincus, who has been behind the Fund's top-ranking performance since Jan. 1, 1992, will continue to act as portfolio manager.
 The newly named Warburg Pincus Growth & Income Fund earned the number one ranking for quarterly total return performance for the quarters ended March 31 and June 30, 1993, out of 317 growth and income funds, and was ranked in the top quintile, according to Lipper Analytical Services, Inc., for one-year, 3-year, 4-year, and 5-year performance for the periods ending 6/30/93.
 As of June 30, 1993, the Fund's one-year total return of 38.3 percent ranked the Fund No. 4 out of 262 growth and income funds according to Lipper Analytical Services, Inc. The Standard & Poor's 500 Index, an unmanaged index of stocks used by analysts as a comparative index of equity performance, returned just 13.6 percent for the same one-year period. The result is a one-year performance margin for the Fund which exceeds the S&P 500 by over 24 percentage points. The Fund's average annual total return since inception (10/6/88) was 16.59 percent.
 "We are pleased to be able to offer this fund to investors on a no-load basis," said Anthony Orphanos, the Fund's portfolio manager since January 1992 and Managing Director of Warburg, Pincus Counsellors, Inc. "Political and economic changes over the past eighteen months continue to cause volatility, but I believe that careful industry and stock selection can lead to returns ahead of the market."
 Warburg Pincus Growth & Income Fund seeks to invest in a mix of unrecognized or undervalued companies that can achieve long-term capital appreciation and pay a reasonable current return. Warburg Pincus conducts research and analysis for the Fund using a series of "screens" such as absolute and relative price performance, and absolute and relative P/E multiples.
 A prospectus and application for this fund, which is available for individual, IRA, and corporate pension plan investments, may be obtained from Warburg Pincus Funds by calling 1-800-257-5614.
 Warburg, Pincus Counsellors, Inc. is a specialized financial services organization with over $6 billion of assets under management. The company provides investment management and research services to prominent individuals and institutions. The firm is particularly noted for identifying outstanding opportunities in emerging technologies and industries and for investing in uniquely competitive companies around the world.
 -0- 7/30/93
 /CONTACT: Dawn Dover or Mickey Mandelbaum of Kekst and Company, 212-593-2655, for RBB Equity Growth and Income Fund/
 (RBEGX)


CO: RBB Equity Growth & Income Fund ST: IN: FIN SU:

TS -- NY035 -- 7730 07/30/93 12:15 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
Words:530
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