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Capital Research Seeks Option for More B-Shares

Two of Capital Research & Management Co.'s American Funds are asking shareholders to approve changes that would permit the funds to add B-shares. Shareholders in the Growth Fund of America and the Tax Exempt Bond Fund of America are expected to vote at meetings Oct. 27 on proposals which would permit the funds to add B-shares, according to preliminary proxy statements filed with the SEC Aug. 23. Capital Research of Los Angeles - a longtime holdout against the use of B-shares - said it might recommend adding B-shares in the future.