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WOOD, STRUTHERS & WINTHROP REORGANIZES WINTHROP FOCUS FUNDS

 WOOD, STRUTHERS & WINTHROP REORGANIZES WINTHROP FOCUS FUNDS
 NEW YORK, Aug. 5 /PRNewswire/ -- Wood, Struthers & Winthrop Management Corp., the investment management unit of Donaldson, Lufkin & Jenrette, today announced the reorganization of its mutual fund group, merging the Pine Street Fund and the Neuwirth Fund into the Winthrop Focus Funds group. Shareholders of both funds have approved the merger.
 The Neuwirth Fund has been renamed the Winthrop Aggressive Growth Fund and the Pine Street Fund is now the Winthrop Growth and Income Fund.
 "With the creation of a single family of funds under the Winthrop Focus Funds umbrella, shareholders in each of these funds can exchange their shares for shares of any other fund within the Winthrop Focus Fund family, including the Alliance Government Reserves Fund and the Alliance Municipal Trust," said Carl B. Menges, chairman and chief executive officer of Wood, Struthers & Winthrop.
 Following the merger, the Winthrop Focus Funds now have four distinct portfolios:
 -- Winthrop Growth Fund -- seeks long-term growth of capital by investing principally in equity securities with long-term capital appreciation potential.
 -- Winthrop Growth and Income Fund -- seeks long-term growth of capital and continuity of income by investing principally in dividend paying common stocks and other equity securities.
 -- Winthrop Aggressive Growth Fund -- seeks a high level of growth of capital by investing principally in equity securities selected on the basis of their potential for a high level of growth of capital.
 -- Winthrop Fixed Income Fund -- seeks to provide as high a level of total return as is consistent with capital preservation by investing principally in debt securities.
 Shareholders of the Neuwirth Fund and the Pine Street Fund will receive shares of the Aggressive Growth Fund and the Growth & Income Fund, respectively, equal to the number of shares held on July 2, 1992. In addition to the exchange privilege, shareholders in the two newly merged funds will not be subject to the contingent deferred sales charge with respect to shares acquired in the reorganization as well as shares purchased subsequently. The new funds will continue to reflect the strong historical performance records of the Neuwirth Fund and the Pine Street Fund over the past decade.
 Founded in 1871, Wood, Struthers & Winthrop Management Corp. provides investment management, tax and financial planning services to wealthy individuals, families, foundations, endowments and employee benefit plans. It also serves as investment manager to its mutual fund group.
 -0- 8/5/92
 /CONTACT: Carl B. Menges, 212-504-4766, or Catherine Conroy, 212-504-3275, both for Wood, Struthers & Winthrop Management/ CO: Wood, Struthers & Winthrop Management Corp. ST: New York IN: FIN SU:


CK -- NY051 -- 7095 08/05/92 12:15 EDT
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Publication:PR Newswire
Date:Aug 5, 1992
Words:432
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