EXHIBIT 1-B
ASTRA STRATEGIC INVESTMENT SERIES
(FORMERLY KNOWN AS PILGRIM STRATEGIC INVESTMENT SERIES)
AMENDMENT TO THE AGREEMENT AND DECLARATION OF TRUST
The following resolution was passed by the Board of Trustees on March 17,
1995, and such resolution is in full force and effect:
WHEREAS, paragraph 9.10 of an Acquisition Agreement, dated
December 7, 1994, among Express America Holdings Corporation, Pilgrim
Group Inc., Pilgrim Management Corporation, Pilgrim Distributors Corp.
and Xxxxxxx Xxxxxxxxxx, provides that each of the Non-Acquired Funds
concurrently with and conditional upon the closing of the transactions
contemplated by the Acquisition Agreement shall change its name to a
name which shall not include the word "Pilgrim";
WHEREAS, Pilgrim Adjustable U.S. Government Securities Trust
I, Pilgrim Adjustable U.S. Government Securities Trust I-A, Pilgrim
Adjustable U.S. Government Securities Trust II, Pilgrim Adjustable U.S.
Government Securities Trust III, Pilgrim Adjustable U.S. Government
Securities Trust IV, Pilgrim Adjustable Rate Securities Trust I,
Pilgrim Adjustable Rate Securities Trust I-A, Pilgrim Adjustable Rate
Securities Trust II, Pilgrim Adjustable Rate Securities Trust III and
Pilgrim Adjustable Rate Securities Trust IV, series of Pilgrim
Strategic Investment Series ("PSIS" or the "Trust") (collectively, the
"Pilgrim ARM Funds") are deemed to be Non-Acquired Funds as set forth
in Schedule 7.7 to the Acquisition Agreement;
WHEREAS, Article IX, Section 8, of the Trust's Agreement and
Declaration of Trust authorizes the Trustees to amend the Agreement and
Declaration of Trust for the purpose of changing the name of the Trust
without authorization by shareholder vote;
WHEREAS, the Trustees deem it advisable to change the Trust's
name from Pilgrim Strategic Investment Series to Astra Strategic
Investment Series and the name of the Pilgrim ARM Funds to Astra
Adjustable U.S. Government Securities Trust I, Astra Adjustable U.S.
Government Securities Trust I-A, Astra Adjustable U.S. Government
Securities Trust II, Astra Adjustable U.S. Government Securities Trust
III, Astra Adjustable U.S. Government Securities Trust IV, Astra
Adjustable Rate Securities Trust I, Astra Adjustable Rate Securities
Trust I-A, Astra Adjustable Rate Securities Trust II, Astra Adjustable
Rate Securities Trust III and Astra Adjustable Rate Securities Trust
IV;
NOW, THEREFORE, BE IT RESOLVED, that PSIS's name is hereby
changed to Astra Strategic Investment Series, and the names of the
Pilgrim ARM Funds are hereby changed to Astra Adjustable U.S.
Government Securities Trust I, Astra Adjustable U.S. Government
Securities Trust I-A, Astra Adjustable U.S.
Government Securities Trust II, Astra Adjustable U.S. Government
Securities Trust III, Astra Adjustable U.S. Government Securities Trust
IV, Astra Adjustable Rate Securities Trust I, Astra Adjustable Rate
Securities Trust I-A, Astra Adjustable Rate Securities Trust II, Astra
Adjustable Rate Securities Trust III and Astra Adjustable Rate
Securities Trust IV, effective upon closing of the transactions
contemplated by the Acquisition Agreement and Declaration of Trust is
filed with the Secretary of State of the Commonwealth of Massachusetts;
and
FURTHER RESOLVED, that the officers of the Trust are
authorized to take all necessary steps to effect the name change,
including amending the Trust's Agreement and Declaration of Trust.
By: /s/ XXXXX X. XXXXX
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Xxxxx X. Xxxxx
Secretary
Dated this 31st day of March, 1995
