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Executive Move- Chung Promoted to Prez Of Alger, Which Advances Two Other Fund Executives

Fred Alger has promoted Dan Chung from chief investment officer and director of research to president. Chung joined the firm in 1994 as chief technology analyst. He became CIO on Sept. 11, 2001.

"Dan has done a remarkable job managing our investment team and process, through not only a difficult stock market but our firm's tragic losses on Sept. 11," said Fred Alger, founder, chairman and chief executive officer of Fred Alger.

Fred Alger has also promoted Kevin Collins from senior analyst to portfolio manager, in charge of growth and income and the equity portion of the firm's balanced portfolios. Andrew Silverberg has also been promoted, to assistant portfolio manager. He will assist Chung on mid-cap funds. Collins has been with the firm for six years, and Silverberg for two.

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