XXX XXXXXX AMERICAN CAPITAL LIMITED MATURITY GOVERNMENT FUND
FILE #811-4491
Attachment 77m to form N-SAR
for the fiscal period ended December 31, 1995:
1. An Agreement and Plan of Reorganization dated July 31, 1995 (the Plan)
between Xxx Xxxxxx American Capital Limited Maturity Government Fund
( Limited Maturity ) and Xxx Xxxxxx American Capital Trust, on behalf of
its series, the Xxx Xxxxxx American Capital Adjustable Rate U.S.
Government Fund ( VKM Fund ), was approved by the Board of Trustees of
Limited Matuirty on May 11, 1995. Following approval of the reorganization
by the shareholders of VKM Fund, the assets of VKM Fund were transferred to
Limited Maturity in exchange for a number of shares of Limited Maturity
equal to the value of the aggregate net assets of VKM Fund immediately
prior to the transfer of assets of VKM Fund to Limited Maturity. A copy of
the Plan is attached.
2. The above described reorganization was consummated on September 22, 1995
and VKM Fund distributed to its shareholders shares of Limited Maturity
received in the reorganization. VKM Fund had no assets or liabilities
after September 27, 1995 and is being terminated pursuant to Delaware
law.
