EX-99.B(g)valcaamend
AMENDMENT TO CUSTODIAN AGREEMENT
AMENDMENT, dated as of July 1, 2001, to the Custodian Agreement dated
November 15, 2000 ("Agreement") as amended to date, between XXXXXXX & XXXX
ADVISORS VALUE FUND, INC. ("Fund"), having a place of business at 0000
Xxxxx Xxxxxx, Xxxxxxxx Xxxx, Xxxxxx 00000, and UMB BANK, N. A.
("Custodian"), having a place of business at 000 Xxxxx Xxxxxx, 00xx Xxxxx,
Xxxxxx Xxxx, Xxxxxxxx 00000.
WHEREAS, the Fund and the Custodian have previously entered into the
Agreement pursuant to which the Custodian provides custody and related
services to the Fund, including the use of foreign subcustodians and
depositories, subject to the terms and conditions set forth therein;
WHEREAS, the Securities and Exchange Commission ("SEC") adopted Rule
17f-7 under the Investment Company Act of 1940 (the "1940 Act") concerning
arrangements for foreign securities depositories;
WHEREAS, pursuant to the provisions of Rule 17f-7(a)(1), the
Custodian has agreed to assume, subject to the terms and conditions set
forth herein, certain analysis and monitoring functions related to foreign
securities depositories;
NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein contained, the Fund and the Custodian agree as follows.
Capitalized terms used herein without definition shall have the meanings
ascribed to them in the Agreement. All references hereunder to the 1940
Act and to the rules and regulations thereunder shall be deemed to be a
reference to such Act and its rules and regulations as they may be amended
from time to time.
1. The Agreement is amended by deleting the first paragraph under the
heading "ARTICLE IV SUBCUSTODIANS" and inserting the following amended
paragraph in its place:
From time to time, in accordance with the relevant provisions of
this Agreement, (i) the Custodian may appoint one or more
Domestic Subcustodians and Special Subcustodians (each as
hereinafter defined) to act on behalf of the Fund; and (ii) the
Custodian may be directed, pursuant to an agreement between the
Fund and the Custodian ("Delegation Agreement"), to appoint a
Domestic Subcustodian to perform the duties of the Foreign
Custody Manager (as such term is defined in Rule 17f-5 under the
1940 Act) ("Approved Foreign Custody Manager") so long as the
Domestic Subcustodian is so eligible under the 1940 Act. Such
Delegation Agreement shall provide that the appointment of any
Domestic Subcustodian as the Approved Foreign Custody Manager
must be governed by a written agreement between the Custodian
and the Domestic Subcustodian, which provides for compliance
with Rule 17f-5. The Approved Foreign Custody Manager may
appoint a Foreign Sub-Subcustodian or Interim Sub-Subcustodian
(each as hereinafter defined) in accordance with this Article
IV. For purposes of this Agreement, all Domestic Subcustodians,
Special Subcustodians, Foreign Sub-Subcustodians and Interim
Sub-Subcustodians shall be referred to collectively as
"Subcustodians".
2. The Agreement is further amended by deleting the last sentence of
Section 4.01 in its entirety and inserting the following revised sentence
in its place:
Each such duly approved Domestic Subcustodian and the countries
where Foreign Sub-Subcustodians through which they may hold
securities and other Assets of the Fund shall be as agreed upon
by the parties hereto in writing, from time to time, in
accordance with the provisions of Section 9.04 hereof (the
"Subcustodian List").
3. The Agreement is further amended by deleting Section 4.02 in its
entirety and inserting the following amended Section 4.02 in its place:
(a) Foreign Sub-Subcustodians. The Approved Foreign Custody
Manager may appoint any entity meeting the requirements of an
Eligible Foreign Custodian, as such term is defined in Rule 17f-
5(a)(1) under the 1940 Act, and which term shall also include a
bank that qualifies to serve as a custodian of assets of
investment companies under Section 17(f) of the 1940 Act or by
SEC order is exempt therefrom (each a "Foreign Sub-
Subcustodian"), provided that the Approved Foreign Custody
Manager's appointments of such Eligible Foreign Custodians shall
at all times be governed by an agreement that complies with Rule
17f-5.
(b) Interim Sub-Subcustodians. Notwithstanding the foregoing,
in the event that the Fund shall invest in a security or other
Asset to be held in a country in which the Approved Foreign
Custody Manager has not appointed a Foreign Sub-Subcustodian or
for which the Fund has otherwise directed that a specific
Foreign Sub-Subcustodian be used, the Custodian shall, or shall
cause the Approved Foreign Custody Manager to, promptly notify
the Fund in writing by facsimile transmission or in such other
manner as the Fund and Custodian shall agree in writing of the
unavailability of an approved Foreign Sub-Subcustodian in such
country; and upon the receipt of Special Instructions, the
Custodian shall, or shall cause the Approved Foreign Custody
Manager to, appoint or approve any Person (as hereinafter
defined) designated by the Fund in such Special Instructions, to
hold such security or other Asset. The subcustodian agreement
between the Custodian and the Interim Sub-Subcustodian (as
hereinafter defined) shall comply with the provisions of the
1940 Act and the rules and regulations thereunder (including
Rule 17f-5, if applicable) and the terms and provisions of this
Agreement. The Custodian shall comply with Section 4.02(a)
hereof with respect to the appointment of an Interim Sub-
Subcustodian. (Any Person appointed or approved as the sub-
subcustodian pursuant to this Section 4.02(b) is hereinafter
referred to as an "Interim Sub-Subcustodian.")
(c) In the event that the Approved Foreign Custody Manager or
its delegate reasonably determines that such Person will not
provide delegation services (i) in a country in which the Fund
has directed that the Fund shall invest in a security or other
Asset or (ii) with respect to a specific Foreign Sub-
Subcustodian which the Fund has directed be used, the Approved
Foreign Custody Manager or the Custodian (or its agent), as
applicable, shall be entitled to rely on any such instruction
provided pursuant to Section 4.02(b) as a Proper Instruction and
shall have no duties or liabilities under this Agreement with
respect to such arrangement save those that it may undertake
specifically in writing with respect to each particular
instance; provided that the Delegation Agreement and this
Agreement shall not constitute the Approved Foreign Custody
Manager or the Custodian (or its agent), as the exclusive
delegate of the Fund for purposes of Rule 17f-5 and,
particularly where such Person does not agree to provide fully
the services under this Agreement and the Delegation Agreement
to the Fund with respect to a particular country or specific
Foreign Sub-Subcustodian, the Fund may delegate such services to
another delegate pursuant to Rule 17f-5.
4. The Agreement is further amended by deleting the first paragraph of
Section 4.05 and inserting the following amended first paragraph of
Section 4.05:
Section 4.05. Certification Regarding Foreign Sub-
Subcustodians. Upon request of the Fund, the Custodian shall
deliver, or cause any Approved Foreign Custody Manager to
deliver, to the Fund a certificate stating: (i) the identity of
each Foreign Sub-Subcustodian then acting on behalf of the
Custodian; (ii) the countries in which the Eligible Securities
Depositories (as defined in Section 4.06) through which each
Foreign Sub-Subcustodian is then holding cash, securities and
other Assets of the Fund; and (iii) such other information as
may be requested by the Fund to ensure compliance with rules and
regulations under the 1940 Act.
5. The Agreement is further amended by inserting the following new Section
4.06 after Section 4.05:
Section 4.06. Securities Depositories.
(a) The Custodian (or its agent) may place and maintain
the Fund's Foreign Assets (as defined in Rule 17f-5 under the
0000 Xxx) with an Eligible Securities Depository (as defined in
Rule 17f-7, which term shall include any other securities
depository for which the SEC by exemptive order has permitted
registered investment companies to maintain their assets).
(b) The Custodian (or its agent) shall, for evaluation by
the Fund or its adviser, provide an analysis of the custody
risks associated with maintaining the Fund's Foreign Assets with
each Eligible Securities Depository utilized directly or
indirectly by the Custodian as of the date hereof (or, in the
case of an Eligible Securities Depository not so utilized as of
the date hereof, prior to the initial placement of the Fund's
Foreign Assets at such Depository) and at which any Foreign
Assets of the Fund are held or are expected to be held. The
Custodian (or its agent) shall monitor the custody risks
associated with maintaining the Fund's Foreign Assets at each
such Eligible Securities Depository on a continuing basis and
shall promptly notify the Fund or its adviser of any material
changes in such risks.
(c) Based on the information available to it in the
exercise of diligence, the Custodian (or its agent) shall
determine the eligibility under Rule 17f-7 of each foreign
securities depository before maintaining the Fund's Foreign
Assets therewith and shall promptly advise the Fund if any
Eligible Securities Depository ceases to be so eligible. A list
of Eligible Securities Depositories used by the Custodian
directly or indirectly as of the date hereof is attached as
Appendix A. Notwithstanding Section 9.04 hereof, Eligible
Securities Depositories may, subject to Rule 17f-7, be added to
the list from time to time.
(d) Withdrawal of Assets. If an arrangement with an
Eligible Securities Depository no longer meets the requirements
of Rule 17f-7, the Custodian (or its agent) will withdraw the
Fund's Foreign Assets from such depository as soon as reasonably
practicable.
(e) Standard of Care. In fulfilling its responsibilities
under this Section 4.06, the Custodian will exercise reasonable
care, prudence and diligence.
6. The Agreement is further amended by inserting the following new Section
4.07 after the new Section 4.06:
Section 4.07. The Fund shall not place or maintain any of the
Fund's Foreign Assets in any country, and shall as promptly as
practicable withdraw the Fund's Foreign Assets from any country,
that is identified in the Global Custody Network Listing
provided by the Custodian (or its agent) as a country where the
liability or responsibility of the Approved Foreign Custody
Manager or the Custodian (or its agent) is conditioned or
predicated on the ability of the Approved Foreign Custody
Manager or the Custodian (or its agent) to recover damages from
the Foreign Sub-Subcustodian in such country.
7. The Agreement is further amended by deleting Section 5.01(b) in its
entirety and inserting the following amended Section 5.01(b) in its place:
(b) Actions Prohibited by Applicable Law, Etc. In no event shall
the Custodian incur liability hereunder if the Custodian or any
Subcustodian or Securities System, or any subcustodian, Eligible
Securities Depository utilized by any such Subcustodian, or any
nominee of the Custodian or any Subcustodian (individually, a
"Person") is prevented, forbidden or delayed from performing, or
omits to perform, any act or thing which this Agreement provides
shall be performed or omitted to be performed, by reason of:
(i) any provision of any present or future law or regulation or
order of the United States of America, or any state thereof, or
of any foreign country, or political subdivision thereof or of
any court of competent jurisdiction (and the Custodian nor any
other Person shall not be obligated to take any action contrary
thereto); or (ii) any "Force Majeure," which for purposes of
this Agreement, shall mean any circumstance or event which is
beyond the reasonable control of the Custodian, a Subcustodian
or any agent of the Custodian or a Subcustodian and which
adversely affects the performance by the Custodian of its
obligations hereunder, by the Subcustodian of its obligations
under its subcustody agreement or by any other agent of the
Custodian or the Subcustodian, unless in each case, such delay
or nonperformance is caused by the negligence, misfeasance or
misconduct of the Custodian. Such Force Majeure events may
include any event caused by, arising out of or involving (a) an
act of God, (b) accident, fire, water damage or explosion, (c)
any computer, system or other equipment failure or malfunction
caused by any computer virus or the malfunction or failure of
any communications medium, (d) any interruption of the power
supply or other utility service, (e) any strike or other work
stoppage, whether partial or total, (f) any delay or disruption
resulting from or reflecting the occurrence of any Sovereign
Risk (as defined below), (g) any disruption of, or suspension of
trading in, the securities, commodities or foreign exchange
markets, whether or not resulting from or reflecting the
occurrence of any Sovereign Risk, (h) any encumbrance on the
transferability of a currency or a currency position on the
actual settlement date of a foreign exchange transaction,
whether or not resulting from or reflecting the occurrence of
any Sovereign Risk, or (i) any other cause similarly beyond the
reasonable control of the Custodian.
Subject to the Custodian's general standard of care set forth in
Section 5.01(a) hereof and the requirements of Section 17(f) of
the 1940 Act and Rules 17f-5 and 17f-7 thereunder, the Custodian
shall not incur liability hereunder if any Person is prevented,
forbidden or delayed from performing, or omits to perform, any
act or thing which this Agreement provides shall be performed or
omitted to be performed by reason of any (i) "Sovereign Risk,"
which for the purpose of this Agreement shall mean, in respect
of any jurisdiction, including the United States of America,
where investments are acquired or held under this Agreement, (a)
any act of war, terrorism, riot, insurrection or civil
commotion, (b) the imposition of any investment, repatriation or
exchange control restrictions by any governmental authority, (c)
the confiscation, expropriation or nationalization of any
investments by any governmental authority, whether de facto or
de jure, (d) any devaluation or revaluation of the currency, (e)
the imposition of taxes, levies or other charges affecting
investments, (f) any change in the applicable law, or (g) any
other economic or political risk incurred or experienced that is
not directly related to the economic or financial conditions of
the Eligible Foreign Custodian, except as otherwise provided in
this Agreement or the Delegation Agreement, or (ii) "Country
Risk," which for the purpose of this Agreement shall mean, with
respect to the acquisition, ownership, settlement or custody of
investments in a jurisdiction, all risks relating to, or arising
in consequence of, systemic and markets factors affecting the
acquisition, payment for or ownership of investments, including
(a) the prevalance of crime and corruption except for crime or
corruption by the Eligible Foreign Custodian, or its employees,
directors or officers, (b) the inaccuracy or unreliability of
business and financial information (unrelated to the Approved
Foreign Custody Manager's duties imposed by Rule 17f-5(c) under
the 1940 Act or to the duties imposed on the Custodian by Rule
17f-7 under the 1940 Act), (c) the instability or volatility of
banking and financial systems, or the absence or inadequacy of
an infrastructure to support such systems, (d) custody and
settlement infrastructure of the market in which such
investments are transacted and held, (e) the acts, omissions and
operation of any Eligible Securities Depository, it being
understood that this provision shall not affect any liability
that the Custodian otherwise would have under the Delegation
Agreement or with respect to foreign subcustodians and
securities depositories under this Agreement, (f) the risk of
the bankruptcy or insolvency of banking agents, counterparties
to cash and securities transactions, registrars or transfer
agents, (g) the existence of market conditions which prevent the
orderly execution or settlement of transactions or which affect
the value of assets, and (h) the laws relating to the
safekeeping and recovery of the Fund's Foreign Assets held in
custody pursuant to the terms of this Agreement; provided,
however, that, in compliance with Rule 17f-5, neither Sovereign
Risk nor Country Risk shall include the custody risk of a
particular Eligible Foreign Custodian of the Fund's Foreign
Assets.
8. The Agreement is further amended by deleting Section 9.03 in its
entirety and inserting the following amended Section 9.03 in its place:
Section 9.03. Entire Agreement. This Agreement and the
Delegation Agreement, as amended from time to time, constitute
the entire understanding and agreement of the parties thereto
with respect to the subject matter therein and accordingly,
supercedes as of the effective date of this Agreement any
custodian agreement heretofore in effect between the Fund and
the Custodian.
9. All references throughout the Agreement to "Securities Depository or
Clearing Agency" are hereby changed to "Eligible Securities Depository".
Under the heading "ARTICLE VIII DEFINED TERMS", the reference to Section
4.02(a) for the definition of "Securities Depository or Clearing Agency"
is changed to Section 4.06(a). In addition, the list of defined terms is
amended to include "Foreign Custody Manager" with a reference to ARTICLE
IV, "Force Majeure" with a reference to Section 5.01(b), "Country Risk"
with a reference to Section 5.01(b), and "Foreign Assets" with a reference
to Section 4.06(a).
10. Except as modified hereby, the Agreement is confirmed in all respects.
* * * * *
IN WITNESS WHEREOF, the parties have executed this Amendment as of
the date first above written.
XXXXXXX & XXXX ADVISORS UMB BANK, N.A.
VALUE FUND, INC.
By: /s/Xxxxxxx X. Xxxxxxxx By: /s/Xxxxx X. Xxxxxxx
---------------------- -------------------
Name: Xxxxxxx X. Xxxxxxxx Name: Xxxxx X. Xxxxxxx
Title: Vice President Title: Senior Vice President
APPENDIX A
XXXXX BROTHERS XXXXXXXX - GLOBAL CUSTODY NETWORK
UMB BANK, N. A.
GLOBAL CUSTODY NETWORK LISTING
COUNTRY SUBCUSTODIAN DEPOSITORIES
ARGENTINA CITIBANK NA, BUENOS AIRES CVSA
Citibank, N.A., New York Agt. 7/16/81 CRYL
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
AUSTRALIA NATIONAL AUSTRALIA BANK LTD. (NAB) Austraclear
National Australia Bank Agt. 5/1/85 CHESS
Agreement Amendment 2/13/92 RBA
Omnibus Amendment 11/22/93
AUSTRIA BANK AUSTRIA AG OeKB
Creditanstalt Bankverein Agreement 12/18/89
Omnibus Amendment 1/17/94
BAHRAIN HSBC BANK MIDDLE EAST, BAHRAIN FOR HONGKONG None
& SHANGHAI BANKING CORP. LTD. (HSBC)
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
BBME Supplement 5/14/96
Side Letter Agreement dated 7/28/97
BANGLADESH STANDARD CHARTERED BANK (SCB), DHAKA None
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13/94
Appendix 0/0/00
XXXXXXX XXXX XXXXXXXX XXXXXXX (XXX) CIK
Banque Bruxelles Xxxxxxx Agt. 11/15/90 NBB
Omnibus Amendment 3/1/94
BERMUDA BANK OF N.T. XXXXXXXXXXX & SON LTD None
The Bank of N.T. Xxxxxxxxxxx & Son Ltd.
Agreement 5/27/97
BOTSWANA STANBIC BANK BOTSWANA LTD FOR STANDARD BANK None
OF SOUTH AFRICA (SBSA)
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 9/29/97
BRAZIL BANKBOSTON NA, SAO PAULO CBLC
The First National Bank of Boston
Agreement 1/5/88 CETIP
Omnibus Amendment 2/22/94 SELIC
Amendment 7/29/96
COUNTRY SUBCUSTODIAN DEPOSITORIES
BULGARIA ING BANK NV, SOFIA BNB
ING Bank N.V. Agreement 9/15/97 CDAD
CANADA ROYAL BANK OF CANADA (RBC) CDS
The Royal Bank of Canada Agreement 2/23/96
CHILE CITIBANK NA, XXXXXXXX DCV
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
CHINA STANDARD CHARTERED BANK (SCB), SHENZHEN SSCCL
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13/94
Appendix 4/8/96
CHINA STANDARD CHARTERED BANK (SCB), SHANGHAI SSCCRC
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13/94
Appendix 4/8/96
COLOMBIA CITITRUST COLOMBIA SA, SOCIEDAD FIDUCIARIA DCV
FOR CITIBANK NA
Citibank, N.A., New York Agt. 7/16/81 DECEVAL
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank, N.A./Cititrust Colombia Agreement 12/2/91
Citibank, N.A. Subsidiary Amendment 10/19/95
CROATIA HVB BANK CROATIA DD SDA
Creditanstalt Bankverein Agreement 12/18/89 CNB
Omnibus Amendment 1/17/94 Ministry of Finance
Creditanstalt AG/Bank Austria
Creditanstalt Croatia d.d. Agt 9/1/98
CZECH REPUBLIC CITIBANK AS FOR CITIBANK NA CNB-TKD System
Citibank, N.A., New York Agt. 7/16/81 SCP
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank NA/Citibank AS Agreement 6/24/96
DENMARK DANSKE BANK VP
Den Danske Bank Agreement 1/1/89
Omnibus Amendment 00/0/00
XXXXXXX CITIBANK NA, QUITO DECEVALE
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank, Quito Side Letter 7/3/95
COUNTRY SUBCUSTODIAN DEPOSITORIES
EGYPT CITIBANK NA, CAIRO MISR
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
ESTONIA HANSAPANK, TALLINN FOR XXXXXX BANK EVK
Union Bank of Finland Agreement 2/27/89
Omnibus Amendment 4/6/94
Xxxxxx Bank Agreement 12/1/97
***BBH's responsibility for this subcustodian is conditioned on
the ability of BBH to
recover from the subcustodian. In addition, BBH does not accept
delegation in this market.***
FINLAND XXXXXX BANK PLC FCSD
Union Bank of Finland Agreement 2/27/89
Omnibus Amendment 4/6/94
FRANCE CREDIT AGRICOLE INDOSUEZ (CAI) Euroclear France
Banque Indosuez Agreement 7/19/90
Omnibus Amendment 3/10/94
GERMANY DEUTSCHE BANK AG CBF
Deutsche Bank Agreement 8/21/96
GREECE CITIBANK NA, ATHENS Apotherion Titlon
Citibank, N.A., New York Agt. 7/16/81 BoG
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
HONG KONG HONGKONG & SHANGHAI BANKING CORP. LTD (HSBC) CMU
Hongkong & Shanghai Banking Corp. Agt. 4/19/91 HKSCC
Omnibus Supplement 12/29/93
Schedule 5/14/96
HUNGARY CITIBANK BUDAPEST RT. FOR CITIBANK NA KELER Ltd
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank, N.A. Subsidiary Amendment 10/19/95
Citibank, N.A./Citibank Budapest Agreement 6/23/92
Citibank, N.A./Citibank Budapest Amendment 9/29/92
INDIA CITIBANK NA, MUMBAI NSDL
Citibank, N.A., New York Agt. 7/16/81 CDSL
New York Agreement Amendment 8/31/90 Reserve Bank
New York Agreement Amendment 7/26/96
Citibank, Mumbai Amendment 11/17/93
INDONESIA CITIBANK NA, JAKARTA PT KSEI
Citibank, N.A., New York Agt. 7/16/81 Bank Indonesia
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
COUNTRY SUBCUSTODIAN DEPOSITORIES
IRELAND ALLIED IRISH BANKS PLC (AIB) CREST
Allied Irish Banks Agreement 1/10/89
Omnibus Amendment 4/8/94
ISRAEL BANK HAPOALIM XX XXXX
Bank Hapoalim Agreement 8/27/92
ITALY INTESA BCI SPA Monte Titoli S.P.A.
Banca Commerciale Italiana Agreement 5/8/89
Agreement Amendment 10/8/93
Omnibus Amendment 12/14/93
JAPAN BANK OF TOKYO - MITSUBISHI, LTD. (BTM) BoJ
Bank of Tokyo-Mitsubishi Agreement 6/17/96 JASDEC
JORDAN HSBC BANK MIDDLE EAST, JORDAN FOR HONGKONG SDC
& SHANGHAI BANKING CORP. (HSBC)
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
BBME Supplement 5/14/96
Side Letter Agreement dated 7/28/97
KENYA STANBIC BANK KENYA LIMITED FOR STANDARD Central Bank
BANK OF SOUTH AFRICA (SBSA) of Kenya
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 9/29/97
KOREA CITIBANK NA, SEOUL KSD
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank, Seoul Agreement Supplement 10/28/94
LEBANON HSBC BANK MIDDLE EAST, LEBANON FOR HONGKONG Midclear
& SHANGHAI BANKING CORP. (HSBC) BDL
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
BBME Supplement 5/14/96
Side Letter Agreement dated 7/28/97
LUXEMBOURG KREDIETBANK LUXEMBOURG (KBL) CBL
Kredietbank Luxembourg Agt. 4/7/98
MALAYSIA HSBC BANK MALAYSIA BERHAD (HBMB) FOR HONGKONG BNM
& SHANGHAI BANKING CORP. (HSBC) MCD
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
Malaysia Subsidiary Supplement 5/23/94
Side Letter Agreement dated 7/28/97
COUNTRY SUBCUSTODIAN DEPOSITORIES
MAURITIUS HONGKONG & SHANGHAI BANKING CORP. LTD. (HSBC), CDS
MAURITIUS Bank of Mauritius
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
MEXICO CITIBANK MEXICO SA FOR CITIBANK NA Indeval
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank Mexico, S.A. Amendment 2/28/95
MOROCCO CITIBANK MAGHREB, CASABLANCA FOR CITIBANK NA MCLR
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Side Letter Agreement pending
NAMIBIA STANDARD BANK NAMIBIA FOR STANDARD BANK OF None
SOUTH AFRICA (SBSA)
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 10/3/96
NETHERLANDS FORTIS BANK NECIGEF
MeesPierson NV Agreement 6/4/99 NEIC
NEW ZEALAND NATIONAL AUSTRALIA BANK LTD. (NAB), AUCKLAND NZCSD
National Australia Bank Agt. 5/1/85
Agreement Amendment 2/13/92
Omnibus Amendment 11/22/93
New Zealand Addendum 3/7/89
NIGERIA STANBIC MERCHANT BANK NIGERIA LIMITED FOR CSCS Ltd.
STANDARD BANK OF SOUTH AFRICA (SBSA)
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 10/3/96
NORWAY CHRISTIANIA BANK VPS
Christiania Bank Agreement 0/0/00
XXXX XXXX XXXX XXXXXX XXXX, XXXX FOR HONGKONG MDSRC
& SHANGHAI BANKING CORP. LTD. (HSBC)
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
BBME Supplement 5/14/96
Side Letter Agreement dated 7/28/97
PAKISTAN STANDARD CHARTERED BANK (SCB), KARACHI CDC
Standard Chartered Bank Agreement 2/18/92 State Bank of
Omnibus Amendment 6/13/94 Pakistan
Appendix 4/8/96
COUNTRY SUBCUSTODIAN DEPOSITORIES
PERU CITIBANK NA, LIMA CAVALI
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
PHILIPPINES CITIBANK NA, MANILA PCD
Citibank, N.A., New York Agt. 7/16/81 XXXX
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
POLAND BANK HANDLOWY W WARSZAWIE SA (BHW) FOR CRBS
CITIBANK NA NDS
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank Subsidiary Amendment 10/30/95
Citibank, N.A./Citibank Poland S.A. Agt. 11/6/92
PORTUGAL BANCO COMERCIAL PORTUGUES SA (BCP) CVM
Banco Comercial Portugues 5/18/98
ROMANIA ING BANK NV, BUCHAREST BSE
ING Bank N.V. Agreement 9/29/97 NBR
SNCDD
SINGAPORE HONGKONG & SHANGHAI BANKING CORP. LTD. (HSBC), CDP
SINGAPORE MAS
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
SLOVAKIA ING BANK NV, BRATISLAVA NBS
ING Bank N.V. Agreement 9/1/98 SCP
SLOVENIA BANK AUSTRIA CREDITANSTALT DD LJUBLJANA KDD
Creditanstalt Bankverein Agreement 12/18/89
Omnibus Amendment 1/17/94
Master Subcustodian Agreement 4/17/98
Amendment dated 4/17/98
Amendment dated 00/00/00
XXXXX XXXXXX XXXXXXXX XXXX XX XXXXX XXXXXX (SBSA) CDL
Standard Bank of South Africa Agreement 3/11/94 STRATE
SPAIN BANCO SANTANDER CENTRAL HISPANO SA (BSCH) Banco de Espana
Banco de Santander Agreement 12/14/88 SCLV
SRI LANKA HONGKONG & SHANGHAI BANKING CORP. LTD. CDS
(HSBC), COLOMBO
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
COUNTRY SUBCUSTODIAN DEPOSITORIES
SWAZILAND STANDARD BANK SWAZILAND LTD FOR STANDARD None
BANK OF SOUTH AFRICA (SBSA)
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 9/29/97
SWEDEN SKANDINAVISKA ENSKILDA BANKEN (SEB) VPC
Skandinaviska Enskilden Banken Agreement 2/20/89
Omnibus Amendment 12/3/93
SWITZERLAND UBS AG SIS
Union Bank of Switzerland Agreement 12/20/88
Omnibus Amendment 11/29/94
TAIWAN STANDARD CHARTERED BANK (SCB), TAIPEI TSCD
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13/94
Appendix 4/8/96
THAILAND HONGKONG & SHANGHAI BANKING CORP. LTD. (HSBC), TSDC
BANGKOK
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
TRANSNATIONAL
XXXXX BROTHERS XXXXXXXX & CO. (BBH&CO.) CBL
Euroclear
XXXXXX XXXXXXXX XX, XXXXXXXX CBT
Citibank, N.A., New York Agt. 7/16/81 Takasbank
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
UKRAINE ING BANK UKRAINE MFS
ING Bank Agreement 8/21/98 NBU
UNITED KINGDOM CLYDESDALE BANK PLC CMO
Master Subcustodian Agreement 0/00/00 XXXXX
XXXXXX XXXXXXX HSBC BANK PLC CMO
Midland Bank Agreement 8/8/90 CREST
Omnibus Amendment 12/15/93
URUGUAY BANKBOSTON NA, MONTEVIDEO None
The First National Bank of Boston Agreement 1/5/88
Omnibus Amendment 2/22/94
Amendment 7/29/96
Uruguay Amendment 10/18/96
VENEZUELA CITIBANK NA, CARACAS CVV
Citibank, N.A., New York Agt. 7/16/81 Central Bank of
New York Agreement Amendment 8/31/90 Venezuela
New York Agreement Amendment 7/26/96
COUNTRY SUBCUSTODIAN DEPOSITORIES
WEST AFRICAN SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE DCBR
MONETARY FOR SOCIETE GENERALE
UNION Societe Generale Agreement 10/6/98
ZAMBIA STANBIC BANK ZAMBIA LTD FOR STANDARD BANK BoZ
OF SOUTH AFRICA (SBSA) LSE
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 10/3/96
ZIMBABWE STANBIC BANK ZIMBABWE LTD FOR STANDARD BANK None
OF SOUTH AFRICA (SBSA)
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 10/3/96
