Mumbai: Reliance Mutual Fund has declared a dividend of 25 per cent in the Reliance Growth Fund - Dividend Plan (Rs. 2.50 per unit on the face value of Rs. 10 per unit). The 'Record Date' has been fixed as December 24, 2004. All unit holders of Reliance Growth Fund - Dividend Plan as on the record date will be eligible to receive the dividend declared.

The growth plan of the same scheme has been ranked CRISIL CPR 1* open-end equity scheme, October 2002-September 2004. The Net Asset Value (NAV) as on December 10, 2004 was Rs 102.67.

The investment objective of Reliance Growth Fund is to achieve long-term growth of capital by investment in equity and equity related securities through a research based investment approach. The growth fund portfolio has a focus on strong growth stories, largely in the mid cap space.

A growing fund house, Reliance Mutual Fund offers a well-rounded portfolio of products to meet varying investment requirements of both corporate as well as retail investors. Recognizing specific investment requirements, Reliance Mutual Fund has exclusive NRI and Sector specific schemes.

After payment of dividend, the (NAV) will fall to the extent of the payout and distribution taxes, if applicable. Past performance may or may not be sustained in future.

Reliance Mutual Fund is sponsored by Reliance Capital Ltd, which is part of the Reliance Group. The Reliance Group has a combined turnover of over Rs. 99,000 crore (as on March 31, 2004).