Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

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Applicant seeks an order declaring that it has ceased to be an investment company. On July 27, 2001, applicant made a liquidating distribution to its shareholders based on net asset value. Applicant incurred $1,890 in expenses in connection with the liquidation. Filing Dates: The application was filed on November 14, 2001, and amended on November 27, 2001. Applicant's Address: 100 Vanguard Blvd., Malvern, PA 19355.