AMENDMENT TO
INVESTMENT MANAGEMENT AGREEMENT
This Amendment dated as of May 1, 2004, is to the Investment Management
Agreement made as of the 15th day of June, 1995, and amended and restated as of
the 23rd day of November, 1995 (the "Agreement") by and between Xxxxxxxxx Asset
Management Ltd., a U.S. registered investment adviser and a corporation
organized under the laws of Singapore (the "Manager"), and Xxxxxxxxx Russia and
East European Fund, Inc. (the "Fund").
WITNESSETH:
WHEREAS, both the Manager and the Fund wish to amend Paragraph 4 of the
Agreement; and
WHEREAS, the Board of Directors of the Fund, including a majority of the
Independent Directors of the Fund present in person, approved the following
Amendment at a meeting called for such purpose on April 20, 2004.
NOW, THEREFORE, in consideration of the foregoing premises, the parties
hereto agree as follows:
The Fund agrees to pay to the Manager a monthly fee in dollars, at the
annual rate of the Fund's average weekly net assets, as listed below, payable at
the end of each calendar month:
1.25%, up to and including $1 billion
1.20% over $1 billion, up to and including $5 billion
1.15% over $5 billion, up to and including $10 billion
1.10% over $10 billion, up to and including $15 billion
1.05% over $15 billion, up to and including $20 billion
1.00% over $20 billion
IN WITNESS WHEREOF, this Amendment has been executed on behalf of each
party as of the date set forth above.
XXXXXXXXX ASSET MANAGEMENT LTD.
By:\s\XXXXXXX X. XXXXXXX
-------------------------------------------------
Xxxxxxx X. XxXxxxx
Director
XXXXXXXXX RUSSIA AND EAST EUROPEAN FUND, INC.
By:\S\XXXXXX X. XXXXXXX
-------------------------------------------------
Xxxxxx X. Xxxxxxx
Vice President and Assistant Secretary
