EXHIBIT 99.13C
PURCHASE AGREEMENT
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Excelsior Institutional Trust (the "Company"), a Delaware business trust,
and Edgewood Services, Inc. ("Edgewood"), a New York corporation, hereby agree
with each other as follows:
1. The Company hereby offers Edgewood and Edgewood hereby purchases one
Trust Share each of the Company's Balanced and International Equity
Funds at $10 per share (collectively, the "Shares"). The Company
hereby acknowledges receipt from Edgewood of funds in the total amount
of $20 in full payment for the Shares.
2. Edgewood represents and warrants to the Company that the Shares are
being acquired for investment purposes and not with a view to the
distribution thereof.
IN AGREEMENT WHEREOF, and intending to be legally bound hereby, the parties
hereto have executed this Agreement as of the 22nd day of August, 1997.
EXCELSIOR INSTITUTIONAL TRUST
By:/s/Xxxxxxxxx X. Xxxxxx
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EDGEWOOD SERVICES, INC.
By:/s/Xxxxxxx X. Xxxxxx, Xx.
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