EX-99.B(13)
FLAG INVESTORS FUND, INC.
SUBSCRIPTION AGREEMENT
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For and in consideration of the mutual agreements herein contained,
Alex. Xxxxx & Sons ("Alex. Xxxxx") hereby agrees to purchase from Flag Investors
Fund, Inc., a Maryland corporation, (the "Corporation") and the Corporation
agrees to issue 9,000 shares of the Corporation's common shares, par value
$0.001 per share, Telephone Income Shares Series, (the "Shares") in exchange for
1,800 shares of common stock of American Telephone & Telegraph Company with a
value of $109,800, upon the terms and conditions set forth herein.
Alex. Xxxxx agrees to purchase such shares and to pay the full
consideration therefor in common stock of American Telephone & Telegraph Company
to the Corporation upon demand.
Alex. Xxxxx hereby confirms to the Corporation its representations that
it is purchasing such Shares for investment purposes, with no present intention
of redeeming or reselling any portion thereof, and its agreement that in the
event it should dispose of any of such Shares, such transaction will be effected
by redeeming such Shares through the Corporation.
ALEX. XXXXX & SONS
/s/ Xxxxxx X. Xxxxxxxx
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Dated: As of November 4, 1983
Subscription Accepted:
FLAG INVESTORS FUND, INC.
By /s/ W. Xxxxx Xxxxx
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Chairman
