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AmSouth to Merge Growth Fund

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May 9, 2002 — AmSouth Funds plans to eliminate the AmSouth Mutual Fds:Grth Fund/A (AMCCX) by merging it into a much larger similar fund.

AmSouth is seeking shareholder approval to combine the fund with the AmSouth Mutual Fds:Capital Grth/A Fund (ICGAX).

Both funds are growth-oriented and invest in large companies. The Growth fund currently has about $8 million in assets, and the Capital Growth fund has about $298 million, according to the fund complex.

AmSouth also noted in a regulatory filing that Capital Growth’s performance has been “superior” to the Growth Fund’s over the “long term.” The Growth Fund’s class A shares lost 12.6% on average for the three years ended in March, while the corresponding shares of Capital Growth fund dropped 3.4%.