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UTIMF Closes Bonus Option of UTI Growth & Value Fund

UTI Mutual Fund has decided to wind up the bonus option of UTI Growth & Value Fund with effect from February 1, 2005. The fund does not comply with SEBI's December 31 deadline, which makes it mandatory for all funds to have at least 20 investors with a single investor not accounting for more than 25 per cent assets of the fund. The redemption proceeds consequent to the winding up will be dispatched on February 9, 2005.