NEW YORK, Apr. 26 (Standard & Poor's) - Standard & Poor's announced that it had awarded Select Fund status to 24 large-cap growth funds. S&P now designates a total of 46 funds as Large-Cap Growth Select Funds.

S&P noted that returns in the large-cap growth universe were strong in 1999, with an average return of 33.8%. And according to S&P, returns for the Standard & Poor's Select Funds were even stronger -- an average of 34.6%. Over the trailing three-year period, the returns for the Select Funds were 34.4% versus the larger universe's 30.0% return, S&P said.

"The 46 large-cap growth Select Funds can be identified by two unique characteristics: consistency of performance and quality of management," said Phil Edwards, managing director, Standard & Poor's Fund Services group. "These funds have exhibited a strong track record and demonstrated to Standard & Poor's analytic staff an equally strong quality of management. For these reasons, the Select Funds stand out among their peers," Edwards added.

New Standard & Poor's Large-Cap Growth Select Funds include:

• American Century: Growth/Inv
• Excelsior Optimum Growth/Inst, Ret
• Gabelli Growth
• Golden Oak: Growth Port/I, A
• Growth Fund of America
• Harbor: Capital Appreciation
• Heritage Capital Appreciation/A, C
• ISG Large Cap Equity
• Janus Fund
• MSDW Institutional Focus Equity/A, B
• Northeast Investors Growth
• Northern Institutional: Diversified Gr/A
• Northern Institutional: Focus/A, C, D
• Northern Select Equity
• One Group: Large Cap Growth/I, A
• Preferred Growth
• Prudential Jennison Growth/A, B, C, Z
• Reynolds: Blue Chip Growth
• Saratoga Advantage: Large Cap Growth/I
• SEI Institutional Managed: Large Cap Growth/A
• Turner: Growth Equity
• Turner: Large Cap Growth Equity
• Warburg Capital Appreciation/Cmn, Adv
• Wells Fargo: Large Co. Growth/I

Click here to listen to a replay of a webcast of Standard & Poor's telephone conference call on Wednesday, April 26, 2000. Analysts Phil Edwards, Collette Coffman, and Sam Stovall discuss the newest Select Funds; performance trends in the Large-Cap Growth fund peer group; and the valuations of the large-cap growth sectors.

26-Apr-2000 15:36:38 (02724843)  Copyright 2000 Standard & Poor's Investment Advisory Services LLC. The information contained in this report may not be published, broadcast, rewritten or otherwise distributed without prior written consent from Standard & Poor's.