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To: Joan Osland Graffius who wrote (163860)	5/4/2002 2:24:34 PM
From: Edmond Katonica	Read Replies (2) \| Respond to of 436258

Yes the Canadian intrest rates did go up. The outlook for the econmy is brigher . I have the same trouble buying ZTR fund as you have with FCO. I guess this is one of those specialist games. Just stick to your guns. The FAX discount is now quite small, the stock price has risen on the fallen discount and not on NAV. I have followed the stock for 10 year or so. I wish I knew what is pushing the discount down. Over the years I have put many people into FAX, so I try to keep my eye on it. Risening Aussie rate should push their dollar up??