INVESTING IN FRANCE
Presentations by

Mr. Eric Bleines, Portfolio Manager
The France Growth Fund, Inc.

Ms. Fabienne Gimenez, Senior VP, EURONEXT

SAN FRANCISCO
Tuesday, January 23rd, 12:00-1:30 p.m.
Luncheon and Presentation
The World Trade Club
Ferry Building, Ste. 300
(on the Embarcadero)

DALLAS
Wednesday, January 24th, 12:00-1:30 p.m.
Luncheon and Presentation
The Meridian Hotel
650 North Pearl Street

ATLANTA
Thursday, January 25th, 12:00-1:30 p.m.
Luncheon and Presentation
The Ravinia Club 2
Ravinia Drive, Suite 100

Dear Investment Professional,

We cordially invite you to attend our upcoming presentation on "Investing in France". Mr. Eric Bleines, Portfolio Manager for The France Growth Fund, will present on the Fund and the French economy. Also, Ms. Fabienne Gimenez, Senior Vice President of Euronext, will be presenting on the newly formed exchange and the French market.

The France Growth Fund is a closed-end country fund listed on The New York Stock Exchange (FRF) with approximately $180 million in assets under management. The Fund's investment adviser is Indocam International Investment Services, managed by the Indocam Asset Management Group, an indirect wholly-owned subsidiary of the Credit Agricole Group. The Fund's objective is long-term capital appreciation through investments primarily in French equity securities. Since its inception, the Fund has outperformed the French benchmark by more than 100 percentage points.

On September 22, 2000, EURONEXT was officially born from the merger of the stock exchanges of Amsterdam (Amsterdam Exchanges), Brussels (Brussels Exchanges) and Paris (Paris Bourse) SBF.

EURONEXT is the first fully integrated cross-border single currency stock, derivatives, commodities market and OTC fixed income securities (bonds). At the time of its launch EURONEXT had a market capitalization of 2,424 billion Euro, with the total annual value of turnover amounting to 3,500 billion Euro, and 1,800 listed companies.

It is a very exciting time for France and many changes are taking place. France's economy has registered strong growth in each of the past three years, reflecting a virtuous circle of upbeat consumer confidence, strong internal demand, rising industrial investment, and falling unemployment. The increased confidence, greater investment, declining unemployment, lower budget deficits and expanding household spending boost the French economy. We hope that you can join us and look forward to your participation. For additional information about the fund please visit: www.francegrowthfund.com.

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