Nations Gvt Term TR 2004 (NYSE:NGF)
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Nations Government Income Term Trust 2004, Inc. (NYSE: NGF); Plan of Liquidation
CHARLOTTE, N.C., Nov. 7 /PRNewswire-FirstCall/ -- The Board of Directors of
Nations Government Income Term Trust 2004, Inc. (the "Company") has approved a
Plan of Liquidation and Termination (the "Plan") for the Company. The Plan is
intended to accomplish the complete liquidation and termination of the Company
as both a registered investment company and a Maryland corporation, in
accordance with its investment objectives.
The Plan provides for a complete liquidation of the Company by March 31, 2004 or
shortly after. 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 amounts of these distributions are presently expected to be
comparable to the amounts that would have been paid if the Company were
declaring and paying monthly dividends. The next liquidating distribution is
payable on November 26, 2003 to shareholders of record on November 17, 2003.
The Company is a diversified, closed-end management investment company. The
Company's investment objectives are to pay a high level of current income
consistent with investing in securities of high credit quality and to return
$10.00 per share (the Company's initial public offering price per share) to
investors on or about March 31, 2004 by preserving capital through the active
management of its portfolio. The Company seeks to achieve its objectives by
investing in high quality fixed income securities which are either (i) issued or
guaranteed by the U.S. Government or its agencies or instrumentality's or (ii)
at the time of investment, rated Aaa by Moody's Investors Service, Inc. or AAA
by Standard & Poor's Corporation or, if unrated, are determined by the
investment adviser to be of comparable quality to such securities.
DATASOURCE: Nations Government Income Term Trust 2004, Inc.
CONTACT: Gerald Murphy, Chief Financial Officer and Treasurer for
Nations Government Income Term Trust 2004, Inc., +1-704-388-9174