AMENDMENT TO CUSTODIAN SERVICES AGREEMENT
This Amendment, dated the 12th day of May, 1999, is entered into
between AMERICAN SKANDIA MASTER TRUST, a Delaware business trust (the "Fund")
and PFPC TRUST COMPANY, (successor to PNC Bank, N.A.) ("PFPC Trust").
WHEREAS, the Fund and PFPC Trust have entered into a Custodian Services
Agreement dated as of June 1, 1997 as the same may be amended from time to time
(the "Agreement"), pursuant to which the Fund appointed PFPC Trust to act as
custodian for its investment portfolios; and
WHEREAS, the Fund and PFPC Trust now wish to amend the Agreement as it
relates to Written Instructions; and
WHEREAS, the Fund's Board of Trustees has approved or will ratify this
Amendment;
NOW THEREFORE, the parties hereto, intending to be legally bound,
hereby agree as follows:
1. Defined Terms. From and after the date hereof, the following term as
used in the Agreement shall be amended and restated in its entirety as follows:
"Written Instructions". The term "Written Instructions" shall
mean (i) written instructions signed by two Authorized Persons
and received by PFPC Trust or (ii) trade instructions
transmitted by means of an electronic transaction reporting
system access to which requires the use of a password or other
authorized identifier. The instructions may be delivered
electronically or by hand, mail, tested telegram, cable, telex
or facsimile sending device.
2. Miscellaneous. Except to the extent amended and supplemented hereby, the
Agreement shall remain unchanged and in full force and effect and is hereby
ratified, confirmed and approved in all respects as amended and supplemented
hereby.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of
the date and year first above written.
AMERICAN SKANDIA MASTER TRUST
By:
Title:
PFPC TRUST COMPANY
By:
Title:
