ITEM 77M: Mergers
Xxxxxx Xxxxxxx High Yield Securities Inc.
On December 10, 2002, at a Special
Meeting of Shareholders of Xxxxxx Xxxxxxx High Income
Advantage Trust II ("HIAT II"), Shareholders of HIAT II
approved an Agreement and Plan of Reorganization (the
"Reorganization Agreement") between HIAT II and
Xxxxxx Xxxxxxx High Yield Securities Inc. ("High
Yield"), pursuant to which substantially all of the assets
of HIAT II would be combined with those of High Yield
and shareholders of HIAT II would become shareholders
of High Yield, receiving shares of High Yield with a
value equal to the value of their holdings in HIAT II (the
"Reorganization"). The Reorganization Agreement was
unanimously approved by the Board of Trustees on July
25, 2002.
On December 16, 2002, the Reorganization
Plan between Capital Growth and High Yield was
completed according to the terms set forth in the
Reorganization Agreement.
