[Federal Register Volume 68, Number 16 (Friday, January 24, 2003)]
[Notices]
[Page 3574]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-1603]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration on the New York Stock Exchange, Inc. (Progressive 
Return Fund, Inc., Common Stock, $.001 Par Value) File No. 1-10341

January 17, 2003.
    Progressive Return Fund, Inc., a Maryland corporation (``Issuer''), 
has filed an application with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 12(d) of the Securities Exchange 
Act of 1934 (``Act'') \1\ and Rule 12d2-2(d) thereunder,\2\ to withdraw 
its Common Stock, $.001 par value (``Security''), from listing and 
registration on the New York Stock Exchange, Inc. (``NYSE'' or 
``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    The Board of Directors of the Issuer (``Board'') approved a 
resolution on December 2, 2002 to withdraw the Issuer's Security from 
listing on the NYSE. In making its decision to withdraw the Security 
from the Exchange, the Board determined that it was in the Issuer's 
best interest to delist from the NYSE and list on the American Stock 
Exchange LLC (``Amex'') due to the continued decline in the level of 
net assets which would affect the Issuer's ability to remain listed on 
the NYSE. The Issuer anticipates that it will begin trading on the Amex 
once the Issuer is delisted from the NYSE.
    The Issuer stated in its application that it has complied with the 
NYSE's rules governing an issuer's voluntary withdrawal of a security 
from listing and registration. The Issuer's application relates solely 
to the Security's withdrawal from listing on the NYSE and from 
registration under Section 12(b) of the Act \3\ and shall not affect 
its obligation to be registered under Section 12(g) of the Act.\4\
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    \3\ 15 U.S.C. 78l(b).
    \4\ 15 U.S.C. 78l(g).
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    Any interested person may, on or before February 10, 2003, submit 
by letter to the Secretary of the Securities and Exchange Commission, 
450 Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon 
whether the application has been made in accordance with the rules of 
the NYSE and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\5\
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    \5\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
[FR Doc. 03-1603 Filed 1-23-03; 8:45 am]
BILLING CODE 8010-01-M