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Biotech / Medical : Biotechnology Value Fund, L.P.

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To: scaram(o)uche who wrote ()	2/7/2000 6:53:00 PM
From: scaram(o)uche	Read Replies (1) of 4974

sheeesh, didn't take long...... Monday February 7, 6:10 pm Eastern Time Company Press Release Franklin Biotechnology Discovery Fund Closes SAN MATEO, Calif.--(BUSINESS WIRE)--Feb. 7, 2000--Franklin Templeton Distributors, Inc. announced today that Franklin Biotechnology Discovery Fund has reached $500 million in assets under management and is now closed to new investors. New assets will be limited to those coming from existing shareholders and retirement plan investors. By limiting new assets, the fund will have a more stable cash flow and its assets should be more manageable. ''By limiting the size of Franklin Biotechnology Discovery Fund to a size still small in relation to the industry as a whole, we believe that we will be able to most effectively manage the current positions, as well as the addition of new investments, in a manner that would best benefit our shareholders,'' explained Portfolio Manager Kurt von Emster. ''Since many of our investments and new opportunities are small and mid-cap companies, by closing the fund to more investors, we will still be able to establish meaningful positions while remaining nimble and responsive to ever-changing market conditions.'' (snip)

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