Item 77Q.1:
Exhibits
Amendment to
Agreement for Fund Accounting Services,
Administrative Services,
Transfer Agency Services,
and
Custody Services Procurement
between
Federated Investment Companies
and
Federated Services Company
This Amendment to the Agreement for Fund Accounting
Services, Administrative Services, Transfer Agency
Services and Custody Services Procurement ("Agreement")
dated March 1,1996, between Federated Investment
Companies listed on Exhibit 1 of Agreement ("Fund") and
Federated Services Company ("Service Provider") is made
and entered into as of the 1st day of June, 2001.
WHEREAS, the Fund has entered into the Agreement
with the Service Provider;
WHEREAS, the Securities and Exchange Commission
has adopted Regulation S-P at 17 CFR Part 248 to protect
the privacy of individuals who obtain a financial
product or service for personal, family or household use;
WHEREAS, Regulation S-P permits financial
Institutions, such as the Fund, to disclose "nonpublic
personal information" ("NPI") of its "customers" and
"consumers" (as those terms are therein defined
in Regulation S-P) to affiliated and nonaffiliated
third parties of the Fund, without giving such customers
and consumers the ability to opt out of such disclosure,
for the limited purposes of processing and servicing
transactions (17 CFR - 248.14) ("Section 248.14 NPI");
for specified law enforcement and miscellaneous
purposes (17 CFR - 248.15) ("Section 248.15 NPI");
and to service providers or in connection with joint
marketing arrangements (17 CFR - 248.13)
("Section 248.13 NPI");
WHEREAS, Regulation S-P provides that the
right of a customer and consumer to opt out of having
his or her NPI disclosed pursuant to 17
CFR - 248.7 and 17 CFR - 248.10 does not apply when
the NPI is disclosed to service providers or in
connection with joint marketing arrangements,
provided the Fund and third party enter into a
contractual agreement that prohibits the third party
from disclosing or using the information other than
to carry out the purposes for which the Fund disclosed
the information (17 CFR - 248.3);
NOW, THEREFORE, the parties intending to be
legally bound agree as follows:
0 The Fund and the Service Provider hereby
acknowledge that the Fund may disclose shareholder
NPI to the Service Provider as agent of the Fund and
solely in furtherance of fulfilling the Service
Provider's contractual obligations under the Agreement
in the ordinary course of business to support the Fund
and its shareholders.
1 The Service Provider hereby agrees to be bound
to use and redisclose such NPI only for the limited
purpose of fulfilling its duties and obligations under
the Agreement, for law enforcement and miscellaneous
purposes as permitted in 17 CFR - 248.15, or in
connection with joint marketing arrangements that
the Funds may establish with the Service Provider
in accordance with the limited exception set forth
in 17 CFR - 248.13.
2 The Service Provider further represents and
warrants that, in accordance with 17 CFR - 248.30,
it has implemented, and will continue to carry out
for the term of the Agreement, policies and
procedures reasonably designed to;
* insure the security and confidentiality of
records and NPI of Fund customers,
* protect against any anticipated threats or
hazards to the security or integrity of Fund
customer records and NPI, and
* protect against unauthorized access to or
use of such Fund customer records or NPI
that could result in substantial harm or
inconvenience to any Fund customer.
4. The Service Provider may redisclose Section
248.13 NPI only to: (a) the Funds and affiliated
persons of the Funds ("Fund Affiliates");
(b) affiliated persons of the Service Provider
("Service Provider Affiliates") (which in turn may
disclose or use the information only to the extent
permitted under the original receipt); (c)a third
party not affiliated with the Service Provider
of the Funds ("Nonaffiliated Third Party")
under the service and processing (-248.14) or
miscellaneous (-248.15) exceptions, but only in
the ordinary course of business to carry out the
activity covered by the exception under which the
Service Provider received the information in the
first instance; and (d) a Nonaffiliated Third
Party under the service provider and
joint marketing exception (-248.13), provided the
Service Provider enters into a written contract
with the Nonaffiliated Third Party that prohibits
the Nonaffiliated Third Party from disclosing or
using the information other than to carry out the
purposes for which the Funds disclosed the
information in the first instance.
5. The Service Provider may redisclose Section
248.14 NPI and Section 248.15 NPI to: (a) the
Funds and Fund Affiliates; (b)Service Provider
Affiliates (which in turn may disclose the
information to the same extent permitted under
the original receipt); and (c) Nonaffiliated
Third Party to whom the Funds might
lawfully have disclosed NPI directly.
6. The Service Provider is obligated to
maintain beyond the termination date of the
Agreement the confidentiality of any NPI
it receives from the Fund in connection with
the Agreement or any joint marketing arrangement,
and hereby agrees that this Amendment
shall survive such termination.
WITNESS the due execution hereof this
1st day of June, 2001.
Federated Investment Companies
(as listed on Exhibit 1 of Agreement)
By: /s/ Xxxx X. XxXxxxxxx
Name: Xxxx X. XxXxxxxxx
Title: Secretary
Federated Services Company
By: /s/ Xxxxxx X. Xxxxxxx
Name: Xxxxxx X. Xxxxxxx
Title: Secretary
