Common use of Substitution of Party Clause in Contracts

Substitution of Party. Effective as of February 12, 1998, AIMCO is hereby substituted as a party to the Portfolio Management Agreement in the place of PAI. The substitution shall be effective for a period of 120 days after February 11, 1998, and shall be effective thereafter subject to approval of the Management Agreement between AIMCO and the Trust by the vote of a majority of the outstanding voting securities of The International Growth Portfolio of the Trust at a meeting of shareholders, which will be held within a 120-day period after February 11, 1998. In the event that shareholders of The International Growth Portfolio do not approve the Management Agreement as provided above, the Portfolio Management Agreement shall terminate as of the close of business on the 120th day after February 11, 1998.

Substitution of Party. Effective as of February 12, 1998, AIMCO is hereby substituted as a party to the Portfolio Management Agreement in the place of PAI. The substitution shall be effective for a period of 120 days after February 11, 1998, and shall be effective thereafter subject to approval of the Management Agreement between AIMCO and the Trust by the vote of a majority of the outstanding voting securities of The International Growth Portfolio of the Trust at a meeting of shareholders, which will be held within a 120-day period after February 11, 1998. In the event that shareholders of The International Growth Portfolio do not approve the Management Agreement as provided above, the Portfolio Management Agreement shall terminate as of the close of business on the 120th day after February 11, 1998.

Substitution of Party. Effective as of February 12, 1998, AIMCO is hereby substituted as a party to the Portfolio Management Agreement in the place of PAI. The substitution shall be effective for a period of 120 days after February 11, 1998, and shall be effective thereafter subject to approval of the Management Agreement between AIMCO and the Trust by the vote of a majority of the outstanding voting securities of The International Growth Global Strategic Income Portfolio of the Trust at a meeting of shareholders, which will be held within a 120-day period after February 11, 1998. In the event that shareholders of The International Growth Global Strategic Income Portfolio do not approve the Management Agreement as provided above, the Portfolio Management Agreement shall terminate as of the close of business on the 120th day after February 11, 1998.

Substitution of Party. Effective as of February 12, 1998, AIMCO is hereby substituted as a party to the Portfolio Management Agreement in the place of PAI. The substitution shall be effective for a period of 120 days after February 11, 1998, and shall be effective thereafter subject to approval of the Management Agreement between AIMCO and the Trust by the vote of a majority of the outstanding voting securities of The International Growth Global Interactive/Telecomm Portfolio of the Trust at a meeting of shareholders, which will be held within a 120-day period after February 11, 1998. In 1n the event that shareholders shareholder of The International Growth Global Interactive/Telecomm Portfolio do not approve the Management Agreement as provided above, the Portfolio Management Agreement shall terminate as of the close of business on the 120th day after February 11, 1998.

Substitution of Party. Effective as of February 12, 1998, AIMCO is hereby substituted as a party to the Portfolio Management Agreement in the place of PAI. The substitution shall be effective for a period of 120 days after February 11, 1998, and shall be effective thereafter subject to approval of the Management Agreement between AIMCO and the Trust by the vote of a majority of the outstanding voting securities of The International Growth the ______________ Portfolio of the Trust at a meeting of shareholders, which will be held within a 120-day period after February 11, 1998. In the event that shareholders of The International Growth the ______________ Portfolio do not approve the Management Agreement as provided above, the Portfolio Management Agreement shall terminate as of the close of business on the 120th day after February 11, 1998.

Substitution of Party. Effective as of February 12, 1998, AIMCO is hereby substituted as a party to the Portfolio Management Agreement in the place of PAI. The substitution shall be effective for a period of 120 days after February 11, 1998, and shall be effective thereafter subject to approval of the Management Agreement between AIMCO and the Trust by the vote of a majority of the outstanding voting securities of The International Growth Value Portfolio of the Trust at a meeting of shareholders, which will be held within a 120-day period after February 11, 1998. , In the event that shareholders of The International Growth Value Portfolio do not approve the Management Agreement as provided above, the Portfolio Management Agreement shall terminate as of the close of business on the 120th day after February 11, 1998.