The tax components of capital shown in the following table represent distribution

requirements the Fund must satisfy under the income tax regulations, losses the Fund may

be able to offset against income and gains realized in future years and unrealized appreciation

or depreciation of securities and other investments for federal income tax purposes.

 Net Unrealized

           Depreciation Based on

Cost of Securities and

 Undistributed  Undistributed  Accumulated   Other Investments

Net Investment                Long-Term                                Loss                           for Federal Income

              Income                            Gain     Carryforward1,2,3,4                                   Tax Purposes

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           $416,413                             $—                           $2,669,911                                          $3,895,520

1. As ofMarch 31, 2011, the Fund had $2,232,229 of net capital loss carryforwards available to offset future realized

capital gains, if any, and thereby reduce future taxable gain distributions.As ofMarch 31, 2011, details of the capital

loss carryforwards were as follows:

 Expiring

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 2016                                       $ 91,561

 2017                                        190,675

 2018                                     1,937,724

 2019                                          12,269

 ---------------------------------------------------------------

 Total                               $2,232,229

2. As ofMarch 31, 2011, the Fund had $437,682 of post-October losses available to offset future realized capital gains, if

any. Such losses, if unutilized,will expire in 2020.

3.During the fiscal year endedMarch 31, 2011, the Fund did not utilize any capital loss carryforward.

4.During the fiscal year endedMarch 31, 2010, the Fund did not utilize any capital loss carryforward.