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THE ZWEIG FUND, INC. ANNOUNCES DISTRIBUTION

 NEW YORK, Jan. 3 /PRNewswire/ -- The Zweig Fund, Inc. (NYSE, PSE: ZF) announced today that its fourth quarter regular distribution will be $0.29 per share. Further, in order to continue its qualification as a Regulated Investment Company for federal income tax purposes, the Fund will pay out an additional $0.02 per share. The combined distribution is payable on Jan. 10, 1994 to shareholders of record on Dec. 31, 1993. The stock will trade ex-dividend on Jan. 5, 1994.
 The $0.29 per share distribution is based on the Fund's policy of paying a regular quarterly distribution of 2.5 percent of net asset value per quarter. The additional $0.02 per share distribution is in accordance with the Fund's Dec. 13, 1993 press release which stated that it would distribute all available net investment income and net short and long term capital gains in order to continue its qualification as a Regulated Investment Company, for federal income tax purposes.
 The Zweig Fund is a closed-end fund with an investment objective to increase capital primarily through the investment in equity securities. The Fund also seeks to preserve capital through the use of certain hedging and market timing techniques that are designed to eliminate unnecessary risk.
 -0- 1/3/94
 /CONTACT: Jeff Lazar of The Zweig Fund, 212-755-9860, or Marissa Moretti or Jennifer Wolfertz of Dewe Rogerson, 212-688-6840/
 (ZF)


CO: The Zweig Fund, Inc. ST: New York IN: FIN SU: DIV

GK-SH -- NY012 -- 8436 01/03/94 10:13 EST
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Publication:PR Newswire
Date:Jan 3, 1994
Words:250
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