EX-99.B-77M
UNITED ASSET STRATEGY FUND, INC.
SUB-ITEM 77M Mergers:
(a) United Asset Strategy Fund, Inc.
(b) On April 6, 1999 the Boards of Directors of United Asset Strategy Fund,
Inc. ("Asset Strategy") and United Gold & Government Fund, Inc. ("Gold &
Government") respectively determined the proposed Agreement and Plan of
Reorganization and Termination ("Agreement") between United Gold & Government
Fund, Inc. and United Asset Strategy Fund, Inc. to be in the best interests of
each of the Funds as well as the shareholders of each of the Funds.
The Gold & Government Board of Directors established April 12, 1999 as the
record date and approved submission of the proposed merger to Gold & Government
shareholders to be voted on at a special meeting to be held June 22, 1999. The
meeting was adjourned on June 22, 1999 to June 28, 1999. On June 28, 1999 a
majority of the outstanding shares of Gold & Government voted in favor of the
Agreement, to become effective June 30, 1999.
Matters voted upon at the Special Meeting by Shareholders of Gold &
Government:
Item 1. To approve or disapprove an Agreement and Plan
of Reorganization and Termination:
For Against Abstain
1,015,920 125,006 51,563
The terms of the Agreement are such that Asset Strategy acquired all of the
assets of Gold & Government in exchange solely for shares of Asset Strategy and
the assumption by Asset Strategy of all of Gold & Government's liabilities,
followed by the distribution of those shares to the shareholders of Gold &
Government.
Articles of Dissolution, dated August 11, 1999, have been filed, on behalf
of Gold & Government, with the state of Maryland. Form N-8F for Gold &
Government was filed on September 9, 1999. On October 20, 1999 the Securities
and Exchange Commission declared that Gold & Government ceased to be an
investment company pursuant to section 8(f) of the Investment Company Act of
1940.
