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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Hr8dhK/AoDrkWix57cHTes7oz9AvXEhBcWESw7rxkc9m/JjL30iyAgGmi/Xq4Gr3
 I0EePg7cYA2A5H0U+sBYtQ==

<SEC-DOCUMENT>0001169232-08-001431.txt : 20080325
<SEC-HEADER>0001169232-08-001431.hdr.sgml : 20080325
<ACCEPTANCE-DATETIME>20080325172400
ACCESSION NUMBER:		0001169232-08-001431
CONFORMED SUBMISSION TYPE:	NTFNCSR
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071231
FILED AS OF DATE:		20080325
EFFECTIVENESS DATE:		20080325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NAIC GROWTH FUND INC
		CENTRAL INDEX KEY:			0000850027
		IRS NUMBER:				311274796
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NTFNCSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05807
		FILM NUMBER:		08710141

	BUSINESS ADDRESS:	
		STREET 1:		711 WEST THIRTEEN MILE RD
		CITY:			MADISON HEIGHTS
		STATE:			MI
		ZIP:			48071
		BUSINESS PHONE:		8105836242

	MAIL ADDRESS:	
		STREET 1:		711 WEST THIRTEEN MILE RD
		CITY:			MADISON HEIGHTS
		STATE:			MI
		ZIP:			48071

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BETTER INVESTING FUND INC
		DATE OF NAME CHANGE:	19890716
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT-NCSR
<SEQUENCE>1
<FILENAME>d73958_nt-ncsr.htm
<DESCRIPTION>NOTIFICATION OF LATE FILING
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">
        <div style="WIDTH: 600px">
            <div align="left">
                <table style="MARGIN-LEFT: 3.5in; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="269" border="0">
                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">OMB APPROVAL</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 0pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="133">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">OMB Number:</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="136">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">3235-0058</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="133">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">Expires</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="136">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">April 30, 2009</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">Estimated average burden</font></b></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">hours per
                            response&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">SEC File Number</font></b></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">811 05807</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">CUSIP NUMBER</font></b></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">628 921 108</font></b></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">UNITED STATES</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">Washington, D.C. 20549</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">FORM 12b-25</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">NOTIFICATION OF LATE FILING</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="603" border="0">
                    <tr>
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="1">(CHECK ONE):</font></p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="60">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="1">/ / Form 10-K</font></p>
                        </td>

                        <td valign="top" width="12">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="60">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="1">/ / Form 20-F</font></p>
                        </td>

                        <td valign="top" width="16">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="74">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="1">/ / Form 11-K</font></p>
                        </td>

                        <td valign="top" width="16">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="1">/ / Form 10-QSB</font></p>
                        </td>

                        <td valign="top" width="35">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="67">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="1">/ / Form N-SAR</font></p>
                        </td>

                        <td valign="top" width="7">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="88">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="1"><font face="Wingdings" size="+0">x</font>&nbsp;Form
                            N-CSR</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="60">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="12">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="60">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="16">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="74">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="16">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="35">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" colspan="3">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="11">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">For Period Ended: December 31, 2007</font></p>
                        </td>
                    </tr>

                    <tr height="18">
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="11">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">/ / Transition Report on Form 10-K</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="11">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">/ / Transition Report on Form 20-F</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="11">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">/ / Transition Report on Form 11-K</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="11">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">/ / Transition Report on Form 10-Q</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="11">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">/ / Transition Report on Form N-SAR</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="69">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="15">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">For the Transition Period Ended:</font></p>
                        </td>

                        <td valign="top" width="16">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>

                            <div style="BORDER-BOTTOM: black 2.25pt double">
                                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                                &nbsp;</p>
                            </div>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="1">READ INSTRUCTION (ON BACK PAGE) BEFORE PREPARING
                            FORM. PLEASE PRINT OR TYPE.</font></b><br>
                            <b><font size="1">NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT
                            THE COMMISSION HAS</font></b><br>
                            <b><font size="1">VERIFIED ANY INFORMATION CONTAINED
                            HEREIN.</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>

                            <div style="BORDER-BOTTOM: black 2.25pt double">
                                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                                &nbsp;</p>
                            </div>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">If the notification relates to a portion of the filing
                            checked above, identify the Item(s) to which the notification
                            relates:</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            </p>

                            <div style="BORDER-BOTTOM: black 2.25pt double">
                                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                                &nbsp;</p>
                            </div>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <b><font size="1">PART I - REGISTRANT INFORMATION</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <u><font size="1">NAIC GROWTH FUND,
                            INC._________________________________________________________________________________________</font></u></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="1">Full name of Registrant</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">&nbsp;</td>
                    </tr>

                    <tr>
                        <td style="BORDER-BOTTOM: #000000 1pt solid; EEPStyleName: Border Cell Single" valign="top" colspan="13">
                        <font face="Times New Roman, Times, serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                        &nbsp;N/A</font></td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="13">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="1">Former name if Applicable</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <hr align="center" width="100%" noshade size="2">
            <PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td style="BORDER-BOTTOM: #000000 1pt solid; EEPStyleName: Border Cell Single" valign="top" colspan="13">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <br>
                        <font size="1">205 E. Wisconsin Avenue, Suite 120</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="13"><font size="1">Address of Principal Executive
                    Office (Street and Number)</font></td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: #000000 1pt solid; EEPStyleName: Border Cell Single" valign="top" colspan="13">
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: #000000 1pt solid; EEPStyleName: Border Cell Single" valign="top" colspan="13">
                    &nbsp;</td>
                </tr>

                <tr>
                    <td style="BORDER-BOTTOM: #000000 1pt solid; EEPStyleName: Border Cell Single" valign="top" colspan="13">
                    <font size="1">Milwaukee, Wisconsin, 53202</font></td>
                </tr>

                <tr>
                    <td valign="top" colspan="13">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="1">City, State and Zip Code</font></p>
                    </td>
                </tr>
            </table>

            <div align="left">
                <p><b><font size="2">PART II - RULES 12b-25(b) AND (c)</font></b></p>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">If the
            subject report could not be filed without unreasonable effort or expense and the
            registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed.
            (Check box if appropriate)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <table cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td width="78">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 6.75pt; TEXT-ALIGN: left">
                        <font size="1"><font face="Wingdings" size="+0">x</font>&nbsp;&nbsp;
                        (a)</font></p>
                    </td>

                    <td width="11">
                    </td>

                    <td colspan="4">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">The reasons described in reasonable detail in Part III of
                        this form could not be eliminated without unreasonable effort or
                        expense;</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <table cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td width="77">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 16.5pt; TEXT-ALIGN: left">
                        <font size="1">&nbsp;&nbsp; &nbsp;(b)</font></p>
                    </td>

                    <td width="12">
                    </td>

                    <td colspan="4">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">The subject annual report, semi-annual report, transition
                        report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR, or Form N-CSR, or
                        portion thereof, will be filed on or before the fifteenth calendar day
                        following the prescribed due date; or the subject quarterly report of
                        transition report on Form 10-Q, or portion thereof will be filed on or
                        before the fifth calendar day following the prescribed due date;
                        and</font></p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <table cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td width="77">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 20.25pt; TEXT-ALIGN: left">
                        <font size="1">&nbsp;(c)</font></p>
                    </td>

                    <td width="12">
                    </td>

                    <td colspan="4">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">The accountant&rsquo;s statement or other exhibit required
                        by Rule 12b-25(c) has been attached if applicable.</font></p>
                    </td>
                </tr>
            </table>
            <br>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <b><font size="2">PART III NARRATIVE</font></b>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">State
            below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR,
            or the transition report or portion thereof, could not be filed within the prescribed
            time period.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <font size="2">Problems were incurred in the printing of the annual report which
            delayed the mailing of the annual report to shareholders.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; PADDING-BOTTOM: 0px; BORDER-BOTTOM: 2.25pt double; TEXT-ALIGN: left">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><b><font size="2">PART
            IV OTHER INFORMATION</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="1">(1)</font></p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="6">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Name and telephone number of person to contact in regard
                            to this notification</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="95">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="105">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="90">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="124">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="91">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td width="28">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="95">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 15pt; TEXT-ALIGN: center">
                            <font size="1">Fred B. Green</font></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="1">___________________</font></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 25.5pt; TEXT-ALIGN: center">
                            <b><font size="1">(Name)</font></b></p>
                        </td>

                        <td valign="top" width="105">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="90">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 32.25pt; TEXT-ALIGN: center" align="center">
                            <font size="1">313</font></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="1">__________________</font></b></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 17.25pt; TEXT-ALIGN: center">
                            <b><font size="1">(Area Code)</font></b></p>
                        </td>

                        <td valign="top" width="124">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="91">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 22.5pt; TEXT-ALIGN: center" align="center">
                            <font size="1">392-1056</font></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="1">__________________</font></b></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 2.25pt; TEXT-ALIGN: center">
                            <b><font size="1">(Telephone Number)</font></b></p>
                        </td>

                        <td width="28">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="95">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="105">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="90">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="124">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="91">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td width="28">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="1">(2)</font></p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="6">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Have all other periodic reports required under Section
                            13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the
                            Investment Company Act of 1940 during the preceding 12 months or for
                            such shorter period that the registrant was required to file such
                            report(s) been filed? If answer is no, identify report(s).</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="95">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="105">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="90">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="124">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="91">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="1"><font face="Wingdings" size="+0">o</font> Yes&nbsp;
                            <font face="Wingdings" size="+0">x</font>&nbsp;No</font></p>
                        </td>

                        <td width="28">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            </p>
                        </td>

                        <td valign="top" colspan="6">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <br>
                            <font size="2">The Form N-SAR due February 29, 2008 is also being filed
                            late.</font></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="1">(3)</font></p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="6">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Is it anticipated that any significant change in results
                            of operations from the corresponding period for the last fiscal year
                            will be reflected by the earnings statements to be included in the
                            subject report or portion thereof?</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="95">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="105">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="90">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="124">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="91">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="1"><font face="Wingdings" size="+0">x</font> Yes</font>
                            <font face="Wingdings">o</font> <font size="1">No</font></p>
                        </td>

                        <td width="28">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="95">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="105">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="90">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="124">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="91">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 2.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td width="28">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="34">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="33">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" colspan="6">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">If so, attach an explanation of the anticipated change,
                            both narratively and quantitatively, and, if appropriate, state the
                            reasons why a reasonable estimate of the results cannot be
                            made.</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="7">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 5.25pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td width="28">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="7">&nbsp;</td>

                        <td>&nbsp;</td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center">
            <font size="2">2</font><font size="1">&nbsp;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
            <font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
            <hr align="center" width="100%" noshade size="2">
            <PAGE><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                <tr>
                    <td valign="top" colspan="8">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">The Fund&rsquo;s net asset value declined 2.0%, after taking
                        into account the $0.8765 per share year-end dividend. The Fund&rsquo;s
                        performance decreased from last year as shown in the table below because of
                        the percentage of the portfolio in financial companies and in companies
                        impacted by the decline in the U.S. housing industry:</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>
                </tr>
            </table>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="600" border="0">
                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="222">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="126">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 19.5pt; TEXT-ALIGN: center" align="center">
                            <u><font size="2">12-31-07</font></u></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="140">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 24pt; TEXT-ALIGN: center" align="center">
                            <u><font size="2">12-31-06</font></u></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="222">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="126">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="140">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="222">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in"><font size="2">Net
                            investment income</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="126">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 21.75pt" align="center">
                            <font size="2">$ 217,976</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="140">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 21.75pt" align="center">
                            <font size="2">$ 232,267</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="222">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in"><font size="2">Net
                            realized gain</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="126">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 21.75pt" align="center">
                            <font size="2">$2,215,083</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="140">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 21.75pt" align="center">
                            <font size="2">$3,081,779</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="222">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in"><font size="2">Net
                            change in unrealized appreciation on investments</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="126">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>

                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 19.5pt" align="center">
                            <font size="2">$(2,963,325)</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="140">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>

                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 22.5pt" align="center">
                            <font size="2">$ (100,080)</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="222">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in"><font size="2">Net
                            increase (decrease) from operations</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="126">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>

                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 19.5pt" align="center">
                            <font size="2">$ (530,266)</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="18">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="140">
                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 0in">&nbsp;</p>

                            <p style="MARGIN-BOTTOM: 0in; TEXT-INDENT: 21.75pt" align="center">
                            <font size="2">$3,213,966</font></p>
                        </td>
                    </tr>
                </table>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

                <table cellspacing="0" cellpadding="0" width="600" border="0">
                    <tr>
                        <td width="600">NAIC GROWTH FUND, Inc.</td>

                        <td>
                        </td>
                    </tr>

                    <tr>
                        <td width="600">
                            <hr>
                            Name of Registrant as Specified in&nbsp;Charter
                        </td>

                        <td>
                        </td>
                    </tr>

                    <tr>
                        <td width="600">
                        </td>

                        <td>
                        </td>
                    </tr>
                </table>
                <br>
                <br>


                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">has
                caused this notification to be signed on its behalf by the undersigned hereunto
                duly authorized.</font></p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

                <p><br>
                </p>

                <table cellspacing="0" cellpadding="0" width="866" border="0">
                    <tr>
                        <td width="70">&nbsp;</td>

                        <td width="126">&nbsp;</td>

                        <td width="138">&nbsp;</td>

                        <td width="24">&nbsp;</td>

                        <td width="508">&nbsp;</td>
                    </tr>

                    <tr>
                        <td><font size="2">Date</font></td>

                        <td><font size="2">March 25, 2008</font></td>

                        <td>
                            <div align="right">
                                <font size="2">By</font>
                            </div>
                        </td>

                        <td>&nbsp;</td>

                        <td><font size="2">/s/ David C. Sims</font></td>
                    </tr>

                    <tr>
                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr>
                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr>
                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td><font size="2">David C. Sims, Chief Financial Officer</font></td>
                    </tr>
                </table>

                <p></p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
                <font size="2">INSTRUCTION: The form may be signed by an executive officer of the
                registrant or by any other duly authorized representative. The name and title of
                the person signing the form shall be typed or printed beneath the signature. If the
                statement is signed on behalf of the registrant by an authorized representative
                (other than an executive officer), evidence of the representative&rsquo;s authority
                to sign on behalf of the registrant shall be filed with the form.</font></p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
                <font size="2">3</font></p>

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                <hr align="center" width="100%" noshade size="2">

                <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>
            </div>
        </div>
    </body>
</html>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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