Vector Index Advisors, Inc. and Steven H. Adler

SECURITIES ACT OF 1933
Release No. 8035 / November 15, 2001

SECURITIES EXCHANGE ACT OF 1934
Release No. 45065 / November 15, 2001

INVESTMENT ADVISERS ACT OF 1940
Release No. 1997 / November 15, 2001

INVESTMENT COMPANY ACT OF 1940
Release No. 25269 / November 15, 2001

ADMINISTRATIVE PROCEEDING
File No. 3-10253

In the Matter of

Vector Index Advisors, Inc.
and Steven H. Adler,

Respondents.

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ORDER DISMISSING WITH PREJUDICE RESPONDENT VECTOR INDEX ADVISORS, INC.

IT IS ORDERED that Respondent Vector Index Advisors, Inc. be and hereby is dismissed with prejudice from this administrative cease-and-desist proceeding.

By the Commission.

Jonathan G. Katz
Secretary