S E C O N D N O T I C E
[LOGO] PIONEER FAMILY OF FUNDS PROXY FOR THE SPECIAL MEETING OF SHAREHOLDERS
P.O. Box 9126 TO BE HELD SEPTEMBER 11, 2000
Hingham, MA 02043-9126 VOTE VIA THE INTERNET: HTTP://WWW.PROXYWEB.COM
TOUCH-TONE VOTING: 1-888-221-0697
[CONTROL NUMBER] [triangle] Please fold and detach card at perforation before mailing [triangle]
PIONEER __________________________
I (we), having received notice of the meeting and management's proxy
statement therefor, and revoking all prior proxies, hereby appoint John F.
Cogan, Jr., David D. Tripple, Robert P. Nault and Joseph P. Barri, and each of
them, my (our) attorneys (with full power of substitution in them and each of
them) for and in my (our) name(s) to attend the Special Meeting of Shareholders
of my (our) fund to be held on Monday, September 11, 2000, at 2 p.m. (Boston
time) at the offices of Hale and Dorr LLP, counsel to the fund, 60 State Street,
26th Floor, Boston, Massachusetts 02109, and any adjourned session or sessions
thereof, and there to vote and act upon the following matters (as more fully
described in the accompanying proxy statement) in respect of all shares of the
fund which I (we) will be entitled to vote or act upon, with all the powers I
(we) would possess if personally present.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS
AS MAY PROPERLY COME BEFORE THE MEETING.
THE SHARES REPRESENTED BY THIS PROXY WILL BE VOTED AS DIRECTED BY THE
UNDERSIGNED. IF NO DIRECTION IS GIVEN, THIS PROXY WILL BE VOTED FOR THE
PROPOSAL.
Date _______________________, 2000
NOTE: In signing, please write name(s)
exactly as appearing hereon. When
signing as attorney, executor,
administrator or other fiduciary,
please give your full title as such.
Joint owners should each sign
personally.
-----------------------------------
Signature(s)
PLEASE SIGN, DATE AND RETURN THIS PROXY CARD
IN THE ENCLOSED ENVELOPE.
[triangle] Please fold and detach card at perforation before mailing. [triangle]
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF YOUR FUND AND
SHOULD BE RETURNED AS SOON AS POSSIBLE IN THE ENVELOPE PROVIDED. THE BOARD
RECOMMENDS THAT YOU VOTE IN FAVOR OF THE FOLLOWING:
PLEASE VOTE BY FILLING IN THE BOXES BELOW.
FOR AGAINST ABSTAIN
1(a). To approve a new management contract between [ ] [ ] [ ]
the fund and Pioneer Investment Management, Inc.
("Pioneer"), the fund's investment adviser. This new
contract will take effect only if the proposed
acquisition of The Pioneer Group, Inc., the parent of
Pioneer, by UniCredito Italiano S.p.A. is consummated.
FOR WITHHOLD FOR ALL
ALL ALL EXCEPT
(AS MARKED BELOW)
2. To elect trustees. The nominees for trustees [ ] [ ] [ ]
are:
01 M.K. Bush 02 J.F. Cogan, Jr.
03 Dr. R.H. Egdahl 04 M.B.W. Graham
05 M.A. Piret 06 D.D. Tripple
07 S.K. West 08 J. Winthrop
TO WITHHOLD AUTHORITY TO VOTE FOR ONE OR MORE OF THE
NOMINEES, WRITE THE NAME(S) OF THE NOMINEE(S) ON THE
LINE BELOW:
- -----------------------------------
|-------| NOW It's Even Easier to Cast Your Vote.
- ----------| [logo]|
| |PIONEER| YOU CAN VOTE BY TOUCH-TONE TELEPHONE OR
| |-------| INTERNET ANY TIME, ANY DAY.
|
| Using Touch-Tone Telephone or the Internet to vote is fast, safe
| and easy. It also saves money by reducing postage and handling
| costs.
|
| [graphic: telephone] Just read your proxy statement and voting card. Then
| choose one voting method--Telephone or Internet--and
| follow these simple steps, 24 hours a day, seven days
| a week.
|
| |---------------------------------|
| | |
| |-----------------------|------------------------| |
| | VOTE BY TOUCH-TONE TELEPHONE AT 1-888-221-0697 | |
| |------------------------------------------------| |
| 1. Use a touch-tone phone and dial 1-888-221-0697 |
| 2. Enter your 14-digit control number, shown on your |
| proxy voting card (If you own shares in more than |
| one fund, each fund will have a different control |
| number) |
| 3. Follow the easy recorded instructions |
| |-----------------------|
| [graphic: personal computer] OR |
| |
| |-----------------------|--------------|
| | VOTE BY INTERNET AT WWW.PROXYWEB.COM |
| |--------------------------------------|
| 1. Visit our voting website WWW.PROXYWEB.COM
| 2. Enter your 14-digit control number, shown on your proxy
| voting card (If you own shares in more than one fund,
| each fund will have a different control number)
| 3. Follow the easy on-screen instructions
|
|Once you've voted by telephone or Internet, DO NOT MAIL your proxy voting card.
|
| |--------------------|
| | THANK YOU FOR YOUR | 8673-00-0600
|---------| PROMPT VOTE | (C)Pioneer Investment Management, Inc.
|--------------------