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Hatteras Income Securities, Inc. (NYSE: HAT); Nations Government Income Term
Trust 2004, Inc. (NYSE: NGF); and Nations Balanced Target Maturity Fund, Inc.
(NYSE: NBM).
CHARLOTTE, N.C., Feb. 6 /PRNewswire-FirstCall/ -- The Board of Directors of
Hatteras Income Securities, Inc. ("HAT") declared a dividend of $0.065 per share
for the month of February 2004. The dividend is payable on February 27, 2004 to
shareholders of record on February 17, 2004. The current yield, based on the
New York Stock Exchange ("NYSE") closing price of $13.50 per share on January
30, 2003, is 5.78%. To obtain additional information, including a prospectus,
please contact a representative at (800) 851-9677.
The Board of Directors of Nations Government Income Term Trust2004, Inc.
("NGF") has approved a Plan of Liquidation and Termination (the "Plan") for NGF
in accordance with its investment objectives and Articles of Incorporation. The
Plan provides for a complete liquidation of NGF by March 31, 2004 or shortly
thereafter. In light of this action, the Company has suspended monthly
dividends. However, the Company expects that, pursuant to the Plan, it will
make liquidating distributions on a monthly basis leading up to the liquidation
date. The next liquidatingdistribution is payable on February 26, 2004 to
shareholders of record on February 17, 2004. Also as a result of the Plan,
trading in NGF stock will be suspended prior to the opening of NYSE trading on
April 1, 2004. Subsequently, NGF and the NYSE will seek to de-list NGF from the
NYSE, and NGF will seek to de-register as an investment company and dissolve as
a Maryland corporation.
A. Max Walker, Director and Chairman of the Board of Directors of each HAT, NGF
and Nations Balanced Target MaturityFund, Inc. ("NBM") (together, the
"Companies") passed away last summer. The Boards of Directors of the Companies
(the "Boards") have appointed William P. Carmichael to succeed him as Director
and Chairman of the Boards. Also in 2003, the Boards accepted the resignation
of Robert H. Gordon as President and Chief Executive Officer of the Companies.
He was succeeded by Edward D. Bedard (previously the Companies' Chief Financial
Officer), who the Boards have appointed President and Chief Executive Officer on
an interim basis. The Boards also have appointed Gerald Murphy (the Companies'
Treasurer) interim Chief Financial Officer. These changes in management have
not affected, nor are they expected to affect, the Companies' portfolio
management activities or day-to-day operations.
The Companies are publicly traded closed-end registered investment companies,
managed by Banc of America Capital Management, LLC.
DATASOURCE: Banc of America Capital Management, LLC
CONTACT: Gerald Murphy, Chief Financial Officer and Treasurer of Banc of
America Capital Management, LLC, +1-704-388-9174