MASTER FEE CAP/FEE WAIVER AGREEMENT
AMENDED AND RESTATED
This Agreement, dated Oct.1, 2005, as amended Feb. 6, 2006, is between
RiverSource Investments, LLC. (RiverSource Investments), in its capacity as
investment manager, Ameriprise Financial, Inc. (Ameriprise Financial), in its
capacity as administrator, RiverSource Service Corporation, in its capacity as
transfer agent, and Ameriprise Financial Services, Inc. (Ameriprise Financial
Services), in its capacity as distributor (RiverSource Investments, Ameriprise
Financial, RiverSource Service Corporation and Ameriprise Financial Services)
are collectively referred to as the "Service Providers"), and each of the
RiverSource(SM) Funds and the Preferred Master Trusts on behalf of its
underlying series funds or portfolios, listed in Schedule A (the term "Fund" is
used to refer to either the registrant or the underlying fund or portfolio as
the context requires). Under this Agreement, the Service Providers agree to cap
expenses (fee caps), before giving effect to any performance incentive
adjustment and the Fund agrees to such fee caps, as described below and in
Schedule B:
1. APPLICABLE AGREEMENTS. To the extent that the Fund's total expenses exceed
the fee cap expense ratios set out in Schedule B, the Service Providers
agree to waive fees and reimburse certain expenses under one or more of the
following agreements, as applicable:
o Investment Management Services Agreement between the Fund and
RiverSource Investments.
o Administrative Services Agreement between the Fund and Ameriprise
Financial.
o Transfer Agency Agreement between the Fund and RiverSource Service
Corporation.
o Plan and Agreement of Distribution between the Fund and Ameriprise
Financial Services.
The above-mentioned agreements may be amended from time to time.
2. FEE CAPS/FEE WAIVERS. The Service Providers will determine the allocation
of fee waivers and expense reimbursements among the applicable agreements.
3. TERMINATION. With respect to any Fund, this Agreement will terminate on the
date listed in Schedule B unless modified by written agreement of the Fund
and the Service Providers or terminated earlier at the sole discretion of
the Fund's Board of Directors/Trustees.
Schedule A
List of Funds:
AXP CALIFORNIA TAX-EXEMPT TRUST
RiverSource California Tax-Exempt Fund (formerly AXP California
Tax-Exempt Fund)
AXP DIMENSIONS SERIES, INC.
RiverSource Disciplined Small Cap Value Fund
AXP DISCOVERY SERIES, INC.
RiverSource Core Bond Fund (formerly AXP Core Bond Fund)
RiverSource Discovery Fund (formerly AXP Discovery Fund)
RiverSource Floating Rate Fund
RiverSource Income Opportunities Fund (formerly AXP Income
Opportunities Fund)
RiverSource Inflation Protected Securities Fund (formerly AXP Inflation
Protected Securities Fund)
RiverSource Limited
Duration Bond Fund (formerly AXP Limited Duration Bond Fund)
AXP FIXED INCOME SERIES, INC.
RiverSource Diversified Bond Fund (formerly AXP Diversified Bond Fund)
AXP GLOBAL SERIES, INC.
RiverSource Emerging Markets Fund (formerly AXP Threadneedle Emerging
Markets Fund)
RiverSource Emerging Markets Bond Fund RiverSource Global Bond Fund
(formerly AXP Global Bond Fund)
RiverSource Global Technology Fund (formerly AXP Global Technology
Fund)
AXP GOVERNMENT INCOME SERIES, INC.
RiverSource Short Duration U.S. Government Fund (formerly AXP Short
Duration U.S. Government Fund)
RiverSource U.S. Government Mortgage Fund (formerly AXP U.S. Government
Mortgage Fund)
AXP GROWTH SERIES, INC.
RiverSource Large Cap Equity Fund (formerly AXP Large Cap Equity Fund)
RiverSource Large Cap Value Fund (formerly AXP Large Cap Value Fund)
RiverSource Disciplined Equity Fund (formerly AXP Quantitative Large
Cap Equity Fund)
AXP HIGH YIELD TAX-EXEMPT SERIES, INC.
RiverSource Tax-Exempt High Income Fund (formerly AXP High Yield
Tax-Exempt Fund)
AXP INCOME SERIES, INC.
RiverSource Selective Fund (formerly AXP Selective Fund)
RiverSource Income Builder - Basic Income Fund
RiverSource Income Builder - Moderate Income Fund
RiverSource Income Builder - Enhanced Income Fund
AXP INTERNATIONAL SERIES, INC.
RiverSource International Opportunity Fund (formerly AXP Threadneedle
International Fund)
AXP MARKET ADVANTAGE SERIES, INC.
RiverSource Portfolio Builder - Conservative Fund (formerly AXP
Portfolio Builder - Conservative Fund)
RiverSource Portfolio Builder - Moderate Conservative Fund (formerly
AXP Portfolio Builder - Moderate Conservative Fund)
RiverSource Portfolio Builder - Moderate Fund (formerly AXP Portfolio
Builder - Moderate Fund)
RiverSource Portfolio Builder - Moderate Aggressive Fund (formerly AXP
Portfolio Builder - Moderate Aggressive Fund)
RiverSource Portfolio Builder - Aggressive Fund (formerly AXP Portfolio
Builder - Aggressive Fund)
RiverSource Portfolio Builder - Total Equity Fund (formerly AXP
Portfolio Builder - Total Equity Fund)
RiverSource S&P 500 Index Fund (formerly AXP S&P 500 Index Fund)
RiverSource Small Company Index Fund (formerly AXP Small Company Index
Fund)
AXP MONEY MARKET SERIES, INC.
RiverSource Cash Management Fund (formerly AXP Cash Management Fund)
AXP PARTNERS SERIES, INC.
RiverSource Aggressive Growth Fund (formerly AXP Partners Aggressive
Growth Fund)
RiverSource Fundamental Growth Fund (formerly AXP Partners Growth
Fund)
RiverSource Small Cap Equity (formerly AXP Partners Small Cap Core
Fund)
RiverSource Small Cap Value (formerly AXP Partners Small Cap Value
Fund)
AXP PARTNERS INTERNATIONAL SERIES, INC.
RiverSource International Aggressive Growth Fund (formerly AXP
Partners International Aggressive Growth Fund)
RiverSource International Equity Fund (formerly AXP Partners
International Core Fund)
RiverSource International Small Cap Fund (formerly AXP Partners
International Small Cap Fund)
AXP SECTOR SERIES, INC.
RiverSource Real Estate Fund (formerly AXP Real Estate Fund)
AXP SPECIAL TAX-EXEMPT SERIES TRUST
RiverSource Insured Tax-Exempt Fund (formerly AXP Insured Tax-Exempt
Fund)
RiverSource Massachusetts Tax-Exempt Fund (formerly AXP Massachusetts
Tax-Exempt Fund)
RiverSource Michigan Tax-Exempt Fund (formerly AXP Michigan Tax-Exempt
Fund)
RiverSource Minnesota Tax-Exempt Fund (formerly AXP Minnesota
Tax-Exempt Fund)
RiverSource New York Tax-Exempt Fund (formerly AXP New York Tax-Exempt
Fund)
RiverSource Ohio Tax-Exempt Fund (formerly AXP Ohio Tax-Exempt Fund)
AXP STRATEGY SERIES, INC.
RiverSource Small Cap Growth Fund (formerly AXP Partners Small Cap
Growth Fund)
AXP TAX-EXEMT SERIES, INC.
RiverSource Intermediate Tax-Exempt Fund (formerly AXP Intermediate
Tax-Exempt Fund)
RiverSource Tax-Exempt Bond Fund (formerly AXP Tax-Exempt Bond Fund)
AXP VARIABLE PORTFOLIO INCOME SERIES, INC.
RiverSource VP Core Bond Fund (formerly AXP VP Core Bond Fund)
RiverSource VP Income Opportunities Fund (formerly AXP VP Income
Opportunities Fund)
RiverSource VP Global Inflation Protected Securities Fund (formerly
AXP VP Inflation Protected Securities Fund)
AXP VARIABLE PORTFOLIO INVESTMENT SERIES, INC.
RiverSource VP Emerging Markets Fund (formerly AXP VP Threadneedle
Emerging Markets Fund)
RiverSource VP Large Cap Value Fund (formerly AXP VP Large Cap Value
Fund)
RiverSource VP Mid Cap Growth Fund (formerly AXP VP Equity Select
Fund)
RiverSource VP Mid Cap Value Fund (formerly AXP VP Mid Cap Value Fund)
RiverSource VP S&P 500 Index Fund (formerly AXP VP S&P 500 Index Fund)
AXP VARIABLE PORTFOLIO PARTNERS SERIES, INC.
RiverSource VP Select Value Fund (formerly AXP VP Partners Select Value
Fund)
RiverSource VP Small Cap Value Fund (formerly AXP VP Partners Small
Cap Value Fund)
AXP VARIABLE PORTFOLIO SELECT SERIES, INC.
RiverSource VP Core Equity Fund (formerly AXP VP Core Equity Fund)
Schedule B
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
FYE/Fund Class A Class B Class C Class D Class E Class I Class Y Effective Termination Date
Date
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
January 31
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.51% 1.29% 1.29% N/A N/A N/A 0.34% 02/01/06 01/31/07
Portfolio Builder Funds
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) S&P 000 X/X X/X X/X 0.59% 0.34% N/A N/A 10/01/05 01/31/07
Index
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Small 0.89% 1.65% N/A N/A N/A N/A 0.72% 10/01/05 01/31/07
Company Index
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
March 31
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Small 1.70% 2.46% 2.46% N/A N/A 1.20% 1.52% 10/01/05 03/31/07
Cap Growth
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
May 31
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.44% 2.21% 2.20% N/A N/A 1.09% 1.27% 10/01/05 05/31/06
Aggressive Growth
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.40% 2.17% 2.17% N/A N/A 1.05% 1.23% 10/01/05 05/31/06
Fundamental Growth
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Income 0.45% 1.21% 1.21% N/A N/A N/A 0.29% 02/06/06 05/31/06
Builder Funds
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Small 1.55% 2.31% 2.31% N/A N/A 1.30% 1.37% 10/01/05 05/31/06
Cap Equity
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Small 1.59% 2.35% 2.35% N/A N/A 1.21% 1.42% 10/01/05 05/31/06
Cap Value
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Selective 0.89% 1.64% 1.64% N/A N/A 0.59% 0.72% 10/01/05 05/31/06
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Short 0.89% 1.64% 1.64% N/A N/A 0.59% 0.72% 10/01/05 05/31/06
Duration U.S. Government
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) U.S. 0.89% 1.64% 1.64% N/A N/A 0.59% 0.71% 10/01/05 05/31/06
Government Mortgage
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
June 30
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 06/30/06
California TE
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Insured 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 06/30/06
TE
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
FYE/Fund Class A Class B Class C Class D Class E Class I Class Y Effective Termination Date
Date
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 06/30/06
Massachusetts TE
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Michigan 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 06/30/06
TE
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 06/30/06
Minnesota TE
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) New York 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 06/30/06
TE
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Ohio TE 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 06/30/06
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Real 1.49% 2.27% 2.27% N/A N/A 1.17% 1.34% 10/01/05 06/30/06
Estate
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
July 31
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Cash 0.73% 1.38% 1.39% N/A N/A 0.53% 0.60% 10/01/05 07/31/06
Management
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Core Bond 0.89% 1.65% 1.66% N/A N/A 0.59% 0.73% 10/01/05 07/31/06
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.48% 2.25% 2.25% N/A N/A 1.13% 1.31% 02/06/06 07/31/06
Disciplined Small Cap
Value
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.49% 2.27% 2.29% N/A N/A N/A 1.32% 10/01/05 07/31/06
Discovery*
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Floating 1.06% 1.82% 1.82% N/A N/A 0.71% 0.90% 02/06/06 07/31/06
Rate
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Income 1.19% 1.95% 1.95% N/A N/A 0.88% 1.03% 10/01/05 07/31/06
Opportunities
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.84% 1.62% 1.62% N/A N/A 0.59% 0.69% 10/01/05 07/31/06
Inflation Protected
Securities
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Large 1.29% 2.05% 2.06% N/A N/A 0.94% 1.12% 10/01/05 07/31/06
Cap Value
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Limited 0.89% 1.65% 1.66% N/A N/A 0.59% 0.73% 10/01/05 07/31/06
Duration Bond
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.25% 2.04% 2.06% N/A N/A 0.93% 1.06% 10/01/05 07/31/06
Disciplined Equity
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
August 31
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.89% 1.65% 1.66% N/A N/A 0.59% 0.73% 10/01/05 08/31/06
Diversified Bond
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP Funds
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
FYE/Fund Class A Class B Class C Class D Class E Class I Class Y Effective Termination Date
Date
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP Core 0.83% X/X X/X X/X X/X X/X X/X 12/01/05 08/31/06
Bond
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP 1.75% X/X X/X X/X X/X X/X X/X 10/01/05 08/31/06
Emerging Markets
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP 0.72% X/X X/X X/X X/X X/X X/X 12/01/05 08/31/06
Global Inflation
Protected Securities
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP 0.99% X/X X/X X/X X/X X/X X/X 10/01/05 08/31/06
Income Opportunities
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP Large 1.05% X/X X/X X/X X/X X/X X/X 10/01/05 08/31/06
Cap Value
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP Mid 1.10% X/X X/X X/X X/X X/X X/X 10/01/05 08/31/06
Cap Growth
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP Mid 1.08% X/X X/X X/X X/X X/X X/X 05/01/05 08/31/06
Cap Value
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP 1.15% X/X X/X X/X X/X X/X X/X 10/01/05 08/31/06
Select Value
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP Small 1.25% X/X X/X X/X X/X X/X X/X 12/01/05 08/31/06
Cap Value
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP S&P 0.495% X/X X/X X/X X/X X/X X/X 10/01/05 08/31/06
500 Index
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
September 30
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
None X/X X/X X/X X/X X/X X/X X/X X/X X/X
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
October 31
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Emerging 1.99% 2.75% 2.75% N/A N/A 1.47% 1.82% 10/01/05 10/31/06
Markets
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Emerging 1.45% 2.21% 2.21% N/A N/A 1.10% 1.29% 02/06/06 10/31/06
Markets Bond
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Global 1.25% 2.02% 2.02% N/A N/A 0.95% 1.08% 10/01/05 10/31/06
Bond
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
FYE/Fund Class A Class B Class C Class D Class E Class I Class Y Effective Termination Date
Date
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) Global 1.82% 2.59% 2.59% N/A N/A 1.13% 1.63% 10/01/05 10/31/06
Technology
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.75% 2.52% 2.52% N/A N/A 1.36% 1.58% 10/01/05 10/31/05
International Aggressive
Growth
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.65% 2.43% 2.43% N/A N/A 1.30% 1.48% 10/01/05 10/31/06
International Equity
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.55% 2.31% 2.31% N/A N/A 1.07% 1.38% 10/01/05 10/31/06
International Opportunity
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 1.92% 2.69% 2.70% N/A N/A 1.57% 1.75% 10/01/05 10/31/06
International Small Cap
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
November 30
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 11/30/06
Intermediate TE
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 11/30/06
Tax-Exempt Bond
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) 0.79% 1.55% 1.55% N/A N/A N/A 0.64% 10/01/05 11/30/06
Tax-Exempt High Income
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
December 31
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
RiverSource(SM) VP Core 0.40% X/X X/X X/X X/X X/X X/X X/X** X/X**
Equity**
-------------------------- ----------- --------- ---------- --------- --------- ---------- --------- ------------- -----------------
* AEFA waives its right to compensation under the 12b-1 Plan in the
amount of .0375%.
**AXP VP Core Equity has an all in fee/cap of 0.40% that does not
expire.
AXP CALIFORNIA TAX-EXEMPT TRUST
AXP DISCOVERY SERIES, INC.
AXP FIXED INCOME SERIES, INC.
AXPGLOBAL SERIES, INC.
AXP GOVERNMENT INCOME SERIES, INC.
AXP GROWTH SERIES, INC.
AXP HIGH YIELD TAX-EXEMPT SERIES, INC.
AXP INCOME SERIES, INC.
AXP INTERNATIONAL SERIES, INC.
AXP MARKET ADVANTAGE SERIES, INC.
AXP MONEY MARKET SERIES, INC.
AXP PARTNERS SERIES, INC.
AXP PARTNERS INTERNATIONAL SERIES, INC.
AXP SECTOR SERIES, INC.
AXP SPECIAL TAX-EXEMPT SERIES TRUST
AXP STRATEGY SERIES, INC.
AXP TAX-EXEMPT SERIES, INC.
AXP VARIABLE PORTFOLIO INCOME SERIES, INC.
AXP VARIABLE PORTFOLIO INVESTMENT SERIES, INC.
AXP VARIABLE PORTFOLIO PARTNERS SERIES, INC.
AXP VARIABLE PORTFOLIO SELECT SERIES, INC.
By: /s/ Xxxxxx X. Xxx
-----------------
Xxxxxx X. Xxx
Vice President
AMERIPRISE FINANCIAL, INC.
AMERIPRISE FINANCIAL SERVICES, INC.
RIVERSOURCE INVESTMENTS, LLC.
RIVERSOURCE SERVICE CORPORATION
By: /s/ Xxxxx X. Xxxxx
------------------
Xxxxx X. Xxxxx
Senior Vice President
