AMENDMENT TO
INVESTMENT MANAGEMENT SERVICES AGREEMENT
Part Two: COMPENSATION TO INVESTMENT MANAGER, paragraph (1)(b)(i)(A), of the
Investment Management Services Agreement between AXP Partners International
Series, Inc., on behalf of its underlying series AXP Partners International
Aggressive Growth Fund and AXP Partners International Select Value Fund, and
American Express Financial Corporation dated December 1, 2002, is modified as
follows. All other provisions of the agreement remain in full force and effect.
(A) Determining the difference in performance (the "Performance
Difference") between the Fund and an index of similar funds (the
"Index"), as described in paragraph (b)(ii). For AXP Partners
International Aggressive Growth Fund the Index is the Lipper
International Multi-Cap Growth Funds Index and for AXP Partners
International Select Value Fund the Index is the Lipper
International Multi-Cap Value Funds Index.
IN WITNESS WHEREOF, the parties have executed this amendment as of the 1st day
of July, 2004.
AXP PARTNERS INTERNATIONAL SERIES, INC.
AXP Partners International Aggressive Growth Fund
AXP Partners International Select Value Fund
By: /s/ Xxxxxx X. Xxx
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Xxxxxx X. Xxx
Vice President
AMERICAN EXPRESS FINANCIAL CORPORATION
By: /s/ Xxxxx X. Xxxxx
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Xxxxx X. Xxxxx
Senior Vice President and General Manager - Mutual Funds
