Reserve Funds’ Primary Fund on Friday will make its sixth payment to investors. The $3.4 billion payment brings total payments to $50.5 billion, or approximately 99% of the fund’s assets as of Sept. 15, 2008, excluding the value of the Lehman Brothers securities it held, now valued at zero. Before the fund’s net asset value fell below $1.00 on Sept. 16, 2008, the fund held more than $60 billion.

Approximately $160 million, exclusive of the value of Lehman Brothers securities, which are valued at zero, will remain in the fund to cover legal fees and management costs.

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