Sub-Item 77M: Mergers
On June 2, 2006 the Board of Trustees of BB&T Funds (the "Trust")
approved an Agreement and Plan of Reorganization (the "Plan"),
attached to this Form N-SAR as Exhibit 77.Q1(g), effective December
18, 2006. Pursuant to the Plan, the Sterling Capital Small Cap Value
Fund, a series of The Advisors' Inner Circle Fund , a Massachusetts
business trust originally established under Massachusetts law under a
Declaration of Trust dated July 18, 1991, as amended February 18, 1997
and registered under the Investment Company Act of 1940, as amended,
was reorganized into a corresponding newly formed shell series of the
Trust (the "Surviving Fund"). The Surviving Fund acquired the assets
and liabilities of the Fund in a tax-free reorganization.
