MORGAN GUARANTY Letterhead February 9, 1996 Lord Abbett Investment Trust 767 Fifth Avenue New York, N.Y. 10153 Attention: Mr. Kenneth B. Cutler Vice President Dear Sirs: Pursuant to Section 15 of the Global Custody Agreement, dated October 20, 1993,...

                                 XXXXXX GUARANTY
                                   Letterhead




February 9, 1996


Xxxx Xxxxxx Investment Trust
000 Xxxxx Xxxxxx
Xxx Xxxx, X.X. 10153

Attention:  Xx. Xxxxxxx X. Xxxxxx
                  Vice President


Dear Sirs:

Pursuant to Section 15 of the Global Custody Agreement,  dated October 20, 1993,
between Xxxx Xxxxxx Investment Trust (hereinafter  called the "Corporation") and
Xxxxxx GuarantyTrust  Company of New York (hereinafter called "Xxxxxx"),  Xxxxxx
hereby  assigns  to  The  Bank  of  New  York  (hereinafter   called  "successor
custodian"),  as of January 1, 1996, all its rights and  obligations  under such
Agreement,  and successor  custodian  hereby agrees with you to be bound by such
Agreement in accordance with its terms.

Sincerely,


____________________                        Consented to:
Vice President                              XXXX XXXXXX INVESTMENT TRUST
Mutual Funds Division


Agreed and Confirmed                        By:___________________________
THE BANK OF NEW YORK                      Vice President


By:________________________
      Vice President