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GLOBAL CUSTODY AGREEMENT
This AGREEMENT is effective August 17, 1997, and is between THE CHASE
MANHATTAN BANK ("Bank") and each of the trusts on behalf of each of the funds
set forth in Schedule A hereto (with each fund a "Customer").
It is hereby agreed as follows:
1. Customer Accounts.
Bank shall establish and maintain the following accounts ("Accounts"):
(a) A custody account in the name of Customer ("Custody Account") for
any and all stocks, shares, bonds, debentures, notes, mortgages or other
obligations for the payment of money, bullion, coin and any certificates,
receipts, warrants or other instruments representing rights to receive, purchase
or subscribe for the same or evidencing or representing any other rights or
interests therein and other similar property whether certificated or
uncertificated as may be received by Bank or its Subcustodian (as defined in
Section 3) for the account of Customer ("Securities"); and
(b) A deposit account in the name of Customer ("Deposit Account") for
any and all cash in any currency received by Bank or its Subcustodian for the
account of Customer, which cash shall not be subject to withdrawal by draft or
check.
Customer warrants its authority to: 1) deposit the cash and Securities
("Assets") received in the Accounts and 2) give Instructions (as defined in
Section 11) concerning the Accounts. Bank may deliver securities of the same
class in place of those deposited in the Custody Account.
Upon written agreement between Bank and Customer, additional Accounts
may be established and separately accounted for as additional Accounts
hereunder.
2. Maintenance of Securities and Cash at Bank and Subcustodian
Locations.
Unless Instructions specifically require another location acceptable to
Bank:
(a) Securities shall be held in the country or other jurisdiction in
which the principal trading market for such Securities is located, where such
Securities are to be presented for payment or where such Securities are
acquired; and
(b) Cash shall be credited to an account in a country or other
jurisdiction in which such cash may be legally deposited or is the legal
currency for the payment of public or private debts.
Cash may be held pursuant to Instructions in either interest or
non-interest bearing accounts as may be available for the particular currency.
To the extent Instructions are issued and Bank can comply with such
Instructions, Bank is authorized to maintain cash balances on deposit for
Customer with itself or one of its "Affiliates" at such reasonable rates of
interest as may from time to time be paid on such accounts, or in non-interest
bearing accounts as Customer may direct, if acceptable to Bank. For purposes
hereof, the term "Affiliate" shall mean an entity controlling, controlled by, or
under common control with, Bank.
If Customer wishes to have any of its Assets held in the custody of an
institution other than the established Subcustodians as defined in Section 3 (or
their securities depositories), such arrangement must be authorized by a written
agreement, signed by Bank and Customer.
3. Subcustodians and Securities Depositories.
Bank may act hereunder through the subcustodians listed in Schedule B
hereof with which Bank has entered into subcustodial agreements
("Subcustodians"). Customer authorizes Bank to hold Assets in the Accounts in
accounts which Bank has established with one or more of its branches or
Subcustodians. Bank and Subcustodians are authorized to hold any of the
Securities in their account with any securities depository in which they
participate.
Bank reserves the right to add new, replace or remove Subcustodians.
Customer shall be given reasonable notice by Bank of any amendment to Schedule
B. Upon request by Customer, Bank shall identify the name, address and principal
place of business of any Subcustodian of Customer's Assets and the name and
address of the governmental agency or other regulatory authority that supervises
or regulates such Subcustodian.
4. Use of Subcustodian.
(a) Bank shall identify the Assets on its books as belonging to
Customer.
(b) A Subcustodian shall hold such Assets together with assets
belonging to other customers of Bank in accounts identified on such
Subcustodian's books as custody accounts for the exclusive benefit of customers
of Bank.
(c) Any Assets in the Accounts held by a Subcustodian shall be subject
only to the instructions of Bank or its agent. Any Securities held in a
securities depository for the account of a Subcustodian shall be subject only to
the instructions of such Subcustodian.
(d) Any agreement Bank enters into with a Subcustodian for holding
Bank's customers' assets shall provide that such assets shall not be subject to
any right, charge, security interest, lien or claim of any kind in favor of such
Subcustodian except for safe custody or administration, and that the beneficial
ownership of such assets shall be freely transferable without the payment of
money or value other than for safe custody or administration or, in the case of
cash deposits, except for liens or rights in favor of creditors of the
Subcustodian arising under bankruptcy, insolvency or similar laws. Where
Securities are deposited by a Subcustodian with a securities depository, Bank
shall cause the Subcustodian to identify on its books as belonging to Bank, as
agent, the Securities shown on the Subcustodian's account on the books of such
securities depository. The foregoing shall not apply to the extent of any
special agreement or arrangement made by Customer with any particular
Subcustodian.
5. Deposit Account Transactions.
(a) Bank or its Subcustodians shall make payments from the Deposit
Account upon receipt of Instructions which include all information required by
Bank.
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(b) In the event that any payment to be made under this Section 5
exceeds the funds available in the Deposit Account, Bank, in its discretion, may
advance Customer such excess amount which shall be deemed a loan payable on
demand, bearing interest at the rate customarily charged by Bank on similar
loans.
(c) If Bank credits the Deposit Account on a payable date, or at any
time prior to actual collection and reconciliation to the Deposit Account, with
interest, dividends, redemptions or any other amount due, Customer shall
promptly return any such amount upon oral or written notification: (i) that such
amount has not been received in the ordinary course of business or (ii) that
such amount was incorrectly credited. If Customer does not promptly return any
amount upon such notification, Bank shall be entitled, upon oral or written
notification to Customer, to reverse such credit by debiting the Deposit Account
for the amount previously credited. Bank or its Subcustodian shall have no duty
or obligation to institute legal proceedings, file a claim or a proof of claim
in any insolvency proceeding or take any other action with respect to the
collection of such amount, but may act for Customer upon Instructions after
consultation with Customer.
6. Custody Account Transactions.
(a) Securities shall be transferred, exchanged or delivered by Bank or
its Subcustodian upon receipt by Bank of Instructions which include all
information required by Bank. Settlement and payment for Securities received
for, and delivery of Securities out of, the Custody Account may be made in
accordance with the customary or established securities trading or securities
processing practices and procedures in the jurisdiction or market in which the
transaction occurs, including, without limitation, delivery of Securities to a
purchaser, dealer or their agents against a receipt with the expectation of
receiving later payment and free delivery. Delivery of Securities out of the
Custody Account may also be made in any manner specifically required by
Instructions acceptable to Bank.
(b) Bank, in its discretion, may credit or debit the Accounts on a
contractual settlement date with cash or Securities with respect to any sale,
exchange or purchase of Securities. Otherwise, such transactions shall be
credited or debited to the Accounts on the date cash or Securities are actually
received by Bank and reconciled to the Account.
(i) Bank, upon oral or written notice to Customer, may reverse
credits or debits made to the Accounts in its discretion if the related
transaction fails to settle within a reasonable period, determined by
Bank in its discretion, after the contractual settlement date for the
related transaction.
(ii) If any Securities delivered pursuant to this Section 6
are returned by the recipient thereof, Bank may reverse the credits and
debits of the particular transaction at any time.
7. Actions of Bank.
Bank shall follow Instructions received regarding Assets held in the
Accounts. However, until it receives Instructions to the contrary, Bank shall:
(a) Present for payment any Securities which are called, redeemed or
retired or otherwise become payable and all coupons and other income items which
call for payment upon presentation, to the extent that Bank or Subcustodian is
actually aware of such opportunities.
(b) Execute in the name of Customer such ownership and other
certificates as may be required to obtain payments in respect of Securities.
(c) Exchange interim receipts or temporary Securities for
definitive Securities.
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(d) Appoint brokers and agents for any transaction for which Bank has
received Instructions involving the Securities, including, without limitation,
Affiliates of Bank or any Subcustodian.
(e) Issue statements to Customer, at times mutually agreed
upon, identifying the Assets in the Accounts.
Bank shall send Customer an advice or notification of any transfers of
Assets to or from the Accounts. Such statements, advices or notifications shall
indicate the identity of the entity having custody of the Assets. Unless
Customer sends Bank a written exception or objection to any Bank statement
within sixty (60) days of receipt, Customer shall be deemed to have approved
such statement. In such event, or where Customer has otherwise approved any such
statement, Bank shall, to the extent permitted by law, be released, relieved and
discharged with respect to all matters set forth in such statement or reasonably
implied therefrom and based on information which Customer knew or reasonably
should have known as though it had been settled by the decree of a court of
competent jurisdiction in an action where Customer and all persons having or
claiming an interest in Customer or Customer's Accounts were parties.
Provided that Bank has acted in accordance with the standard of care in
Section 12(a) hereof, all collections of funds or other property paid or
distributed in respect of Securities in the Custody Account shall be made at the
risk of Customer. Provided that Bank has acted in accordance with the standard
of care in Section 12(a) hereof, Bank shall have no liability for any loss
occasioned by delay in the actual receipt of notice by Bank or by its
Subcustodians of any payment, redemption or other transaction regarding
Securities in the Custody Account in respect of which Bank has agreed to take
any action hereunder.
8. Corporate Actions; Proxies; Tax Reclaims.
(a) Corporate Actions. Whenever Bank receives information concerning
the Securities which requires discretionary action by the beneficial owner of
the Securities (other than a proxy), such as subscription rights, bonus issues,
stock repurchase plans and rights offerings, or legal notices or other material
intended to be transmitted to securities holders ("Corporate Actions"), Bank
shall give Customer prompt notice of such Corporate Actions to the extent that
Bank has received actual notice of the Corporate Action from the relevant issuer
or issuer's agent or as to which notice is published in publications routinely
utilized by Bank for this purpose.
When a rights entitlement or a fractional interest resulting from a
rights issue, stock dividend, stock split is received which bears an expiration
date, Bank shall endeavor to obtain Instructions from Customer or its Authorized
Person (as defined in Section 10 hereof), but if Instructions are not received
in time for Bank to take timely action, or actual notice of such Corporate
Action was received too late to seek Instructions, Bank is authorized but need
not sell such rights entitlement or fractional interest and to credit the
Deposit Account with the proceeds, if Bank, in good faith, deems such action to
be appropriate in which case it shall be held harmless
for any such action.
(b) Proxy Voting. Bank shall provide proxy voting services, if elected
by Customer, in accordance with the terms of the proxy voting services rider
hereto. Proxy voting services may be provided by Bank or, in whole or in part,
by one or more third parties appointed by Bank (which may be Affiliates of
Bank).
(c) Tax Reclaims.
(i) Subject to the provisions hereof, Bank shall apply for a
reduction of withholding tax and any refund of any tax paid or tax
credits which apply in each applicable market in respect of income
payments on Securities for the benefit of Customer which Bank believes
may be available to such Customer.
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(ii) The provision of tax reclaim services by Bank is
conditional upon Bank receiving from the beneficial owner of Securities
(A) a declaration of its identity and place of residence and (B)
certain other documentation (pro forma copies of which are available
from Bank). Customer acknowledges that, if Bank does not receive such
declarations, documentation and information, additional United Kingdom
taxation shall be deducted from all income received in respect of
Securities issued outside the United Kingdom and that U.S. non-resident
alien tax or U.S. backup withholding tax shall be deducted from U.S.
source income. Customer shall provide to Bank such documentation and
information as it may require in connection with taxation, and warrants
that, when given, this information shall be true and correct in every
respect, not misleading in any way, and contain all material
information. Customer undertakes to notify Bank immediately if any such
information requires updating or amendment.
(iii) Provided that Bank has acted in accordance with the
standard of care in Section 12(a) hereof, Bank shall not be liable to
Customer or any third party for any taxes, fines or penalties payable
by Bank or Customer, and shall be indemnified accordingly, whether
these result from the inaccurate completion of documents by Customer or
any third party acting as agent for Customer, or as a result of the
provision to Bank or any third party of inaccurate or misleading
information or the withholding of material information by Customer or
any other third party, or as a result of any delay of any revenue
authority or any other matter beyond the control of Bank.
(iv) Customer confirms that Bank is authorized to deduct from
any cash received or credited to the Deposit Account any taxes or
levies required by any revenue or governmental authority for whatever
reason in respect of the Securities or Cash Accounts.
(v) Bank shall perform tax reclaim services only with respect
to taxation levied by the revenue authorities of the countries notified
to Customer from time to time and Bank may, by notifi cation in
writing, at its absolute discretion, supplement or amend the markets in
which the tax reclaim services are offered. Other than as expressly
provided in this sub-clause, Bank shall have no responsibility with
regard to Customer's tax position or status in any jurisdiction.
(vi) Customer confirms that Bank is authorized to disclose any
information requested by any revenue authority or any governmental body
in relation to Customer or the Securities and/or Cash held for
Customer.
(vii) Tax reclaim services may be provided by Bank or, in
whole or in part, by one or more third parties appointed by Bank (which
may be Affiliates of Bank); provided that Bank shall be liable for the
performance of any such third party to the same extent as Bank would
have been if it performed such services itself.
9. Nominees.
Securities which are ordinarily held in registered form may be
registered in a nominee name of Bank, Subcustodian or securities depository, as
the case may be. Bank may without notice to Customer cause any such Securities
to cease to be registered in the name of any such nominee and to be registered
in the name of Customer. In the event that any Securities registered in a
nominee name are called for partial redemption by the issuer, Bank may allot the
called portion to the respective beneficial holders of such class of security in
any manner Bank deems to be fair and equitable. Customer shall hold Bank,
Subcustodians, and their respective nominees harmless from any liability arising
directly or indirectly from their status as a mere record holder of Securities
in the Custody Account.
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10. Authorized Persons.
As used herein, the term "Authorized Person" means employees or agents
including investment managers as have been designated by written notice from
Customer or its designated agent to act on behalf of Customer hereunder. Such
persons shall continue to be Authorized Persons until such time as Bank receives
Instructions from Customer or its designated agent that any such employee or
agent is no longer an Authorized Person.
11. Instructions.
The term "Instructions" means instructions of any Authorized Person
received by Bank, via telephone, telex, facsimile transmission, bank wire or
other teleprocess or electronic instruction or trade information system
acceptable to Bank which Bank believes in good faith to have been given by
Authorized Persons or which are transmitted with proper testing or
authentication pursuant to terms and conditions which Bank may specify. Unless
otherwise expressly provided, all Instructions shall continue in full force and
effect until canceled or superseded.
Any Instructions delivered to Bank by telephone shall promptly
thereafter be confirmed in writing by an Authorized Person (which confirmation
may bear the facsimile signature of such Person), but Customer shall hold Bank
harmless for the failure of an Authorized Person to send such confirmation in
writing, the failure of such confirmation to conform to the telephone
instructions received or Bank's failure to produce such confirmation at any
subsequent time. Bank may electronically record any Instructions given by
telephone, and any other telephone discussions with respect to the Custody
Account. Customer shall be responsible for safeguarding any testkeys,
identification codes or other security devices which Bank shall make available
to Customer or its Authorized Persons.
12. Standard of Care; Liabilities.
(a) Bank shall be responsible for the performance of only such duties
as are set forth herein or expressly contained in Instructions which are
consistent with the provisions hereof as follows:
(i) Bank shall use reasonable care with respect to its
obligations hereunder and the safekeeping of Assets. Bank shall be
liable to Customer for any loss which shall occur as the result of the
failure of a Subcustodian to exercise reasonable care with respect to
the safekeeping of such Assets to the same extent that Bank would be
liable to Customer if Bank were holding such Assets in New York. In the
event of any loss to Customer by reason of the failure of Bank or its
Subcustodian to utilize reasonable care (including, but not limited to,
as respects corporate actions), Bank shall be liable to Customer only
to the extent of Customer's direct damages, to be determined based on
the market value of the property which is the subject of the loss at
the date of discovery of such loss and without reference to any special
conditions or circumstances. Bank shall have no liability whatsoever
for any consequential, special, indirect or speculative loss or damages
(including, but not limited to, lost profits) suffered by Customer in
connection with the transactions contemplated hereby and the
relationship established hereby even if Bank has been advised as to the
possibility of the same and regardless of the form of the action.
(ii) Bank shall not be responsible for the insolvency of any
Subcustodian which is not a branch or Affiliate of Bank. Bank shall not
be responsible for any act, omission, default or the solvency of any
broker or agent which it or a Subcustodian appoints unless such
appointment was made negligently or in bad faith.
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(iii) Bank shall be indemnified by, and without liability to
Customer for any action taken or omitted by Bank whether pursuant to
Instructions or otherwise within the scope hereof if such act or
omission was in good faith, without negligence. In performing its
obligations hereunder, Bank may rely on the genuineness of any document
which it believes in good faith to have been validly executed.
(iv) Customer shall pay for and hold Bank harmless from any
liability or loss resulting from the imposition or assessment of any
taxes or other governmental charges, and any related expenses with
respect to income from or Assets in the Accounts.
(v) Bank shall be entitled to rely, and may act, upon the
advice of counsel (who may be counsel for Customer) on all matters and
shall be without liability for any action reasonably taken or omitted
pursuant to such advice.
(vi) Bank need not maintain any insurance for the benefit of
Customer.
(vii) Without limiting the foregoing, Bank shall not be liable
for any loss which results from: 1) the general risk of investing, or
2) investing or holding Assets in a particular country including, but
not limited to, losses resulting from malfunction, interruption of or
error in the transmission of information caused by any machines or
system or interruption of communication facilities, abnormal operating
conditions, nationalization, expropriation or other governmental
actions; regulation of the banking or securities industry; currency
restrictions, devaluations or fluctuations; and market conditions which
prevent the orderly execution of securities transactions or affect the
value of Assets; except that, with respect to the failure of machines,
systems, interruption of communication facilities or abnormal operating
conditions on Bank or a Subcustodian's premises or otherwise within the
control of Bank or a Subcustodian, Bank shall not be so excused to the
extent that such failure was on account of Bank's or the Subcustodian's
(as the case may be) negligence (such as a failure to have had routine
maintenance performed or to have selected equipment reasonably suitable
for the purposes contemplated hereby given, in the case of
Subcustodians, local market practices with respect to such matters).
Bank confirms that it has in place back-up procedures, periodically
tested by it, that would permit continued operation of its Brooklyn,
New York and Bournemouth, England data centers in the event of a
failure of its systems or equipment.
(viii) Neither party shall be liable to the other for any loss
due to forces beyond their control including, but not limited to
strikes or work stoppages, acts of war (whether declared or undeclared)
or terrorism, insurrection, revolution, nuclear fusion, fission or
radiation, or acts of God.
(b) Consistent with and without limiting the first paragraph of this
Section 12, it is specifically acknowledged that Bank shall have no duty or
responsibility to:
(i) question Instructions or make any suggestions to
Customer or an Authorized Person regarding such Instructions;
(ii) supervise or make recommendations with respect to
investments or the retention of Securities;
(iii) advise Customer or an Authorized Person regarding any
default in the payment of principal or income of any security other
than as provided in Section 5(c) hereof;
(iv) evaluate or report to Customer or an Authorized Person
regarding the financial condition of any broker, agent or other party
to which Securities are delivered or payments are made pursuant hereto;
and
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(v) review or reconcile trade confirmations received from
brokers. Customer or its Authorized Persons issuing Instructions shall
bear any responsibility to review such confirmations against
Instructions issued to and statements issued by Bank.
(c) Customer authorizes Bank to act hereunder notwithstanding that Bank
or any of its divisions or Affiliates may have a material interest in a
transaction, or circumstances are such that Bank may have a potential conflict
of duty or interest including the fact that Bank or any of its Affiliates may
provide brokerage services to other customers, act as financial advisor to the
issuer of Securities, act as a lender to the issuer of Securities, act in the
same transaction as agent for more than one customer, have a material interest
in the issue of Securities, or earn profits from any of the activities listed
herein.
13. Fees and Expenses.
Customer shall pay Bank for its services hereunder the fees set forth
in Schedule C hereto or such other amounts as may be agreed upon in writing,
together with Bank's reasonable out-of-pocket or incidental expenses, such as,
but not limited to, scrip and stamp fees, legal fees registration fees, and
other costs that Bank pays on behalf of Customer. Bank shall have a lien on and
is authorized to charge any Accounts of Customer for any amount owing to Bank
under any provision hereof upon oral or written notice to Customer.
14. Miscellaneous.
(a) Foreign Exchange Transactions. To facilitate the administration of
Customer's trading and investment activity, subject to Instructions (which may
be standing Instructions) Bank is authorized to enter into spot or forward
foreign exchange contracts with Customer and may also provide foreign exchange
through its subsidiaries, Affiliates or Subcustodians. Instructions, including
standing instructions, may be issued with respect to such contracts but Bank may
establish rules or limitations concerning any foreign exchange facility made
available. In all cases where Bank, its subsidiaries, Affiliates or
Subcustodians enter into a foreign exchange contract related to Accounts, the
terms and conditions of the then current foreign exchange contract of Bank, its
subsidiary, Affiliate or Subcustodian and, to the extent not inconsistent, this
Agreement shall apply to such transaction.
(b) Certification of Residency, etc. Customer certifies that it is a
resident of the United States and shall notify Bank of any changes in residency.
Bank may rely upon this certification or the certification of such other facts
as may be required to administer Bank's obligations hereunder. Customer shall
indemnify Bank against all losses, liability, claims or demands arising directly
or indirectly from any such certifications.
(c) Access to Records. Bank shall allow Customer's independent public
accountant reasonable access to the records of Bank relating to the Assets as is
required in connection with their examination of books and records pertaining to
Customer's affairs. Subject to restrictions under applicable law, Bank shall
also obtain an undertaking to permit Customer's independent public accountants
reasonable access to the records of any Subcustodian which has physical
possession of any Assets as may be required in connection with the examination
of Customer's books and records.
(d) Governing Law; Successors and Assigns, Captions THIS AGREEMENT
SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED IN NEW YORK and shall not be assignable by either
party, but shall bind the successors in interest of Customer and Bank. The
captions given to the sections and subsections of this Agreement are for
convenience of reference only and are not to be used to interpret this
Agreement.
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(e) Entire Agreement; Applicable Riders. Customer represents that the
Assets deposited in the Accounts are (Check one):
____ Employee Benefit Plan or other assets subject to the Employee
Retirement Income Security Act of 1974, as amended ("ERISA");
X Investment Company assets subject to certain U.S.
Securities and Exchange Commission rules and regulations;
____ Neither of the above.
This Agreement consists exclusively of this document together with
Schedules A-C, and the following Rider(s) [Check applicable rider(s)]:
____ ERISA
X INVESTMENT COMPANY
____ PROXY VOTING
X SPECIAL TERMS AND CONDITIONS
There are no other provisions hereof and this Agreement supersedes any
other agreements, whether written or oral, between the parties. Any amendment
hereto must be in writing, executed by both parties.
(f) Severability. In the event that one or more provisions hereof are
held invalid, illegal or unenforceable in any respect on the basis of any
particular circumstances or in any jurisdiction, the validity, legality and
enforceability of such provision or provisions under other circumstances or in
other jurisdictions and of the remaining provisions shall not in any way be
affected or impaired.
(g) Waiver. Except as otherwise provided herein, no failure or delay on
the part of either party in exercising any power or right hereunder operates as
a waiver, nor does any single or partial exercise of any power or right preclude
any other or further exercise, or the exercise of any other power or right. No
waiver by a party of any provision hereof, or waiver of any breach or default,
is effective unless in writing and signed by the party against whom the waiver
is to be enforced.
(h) Representations and Warranties. (i) Customer hereby represents and
warrants to Bank that: (A) it has full authority and power to deposit and
control the Securities and cash deposited in the Accounts; (B) it has all
necessary authority to use Bank as its custodian; (C) this Agreement constitutes
its legal, valid and binding obligation, enforceable in accordance with its
terms; (D) it shall have full authority and power to borrow moneys and enter
into foreign exchange transactions; and (E) it has not relied on any oral or
written representation made by Bank or any person on its behalf, and
acknowledges that this Agreement sets out to the fullest extent the duties of
Bank. (ii) Bank hereby represents and warrants to Customer that: (A) it has the
full power and authority to perform its obligations hereunder, (B) this
Agreement constitutes its legal, valid and binding obligation; enforceable in
accordance with its terms; and (C) that it has taken all necessary action to
authorize the execution and delivery hereof.
(i) Notices. All notices hereunder shall be effective when actually
received. Any notices or other communications which may be required hereunder
are to be sent to the parties at the following addresses or such other addresses
as may subsequently be given to the other party in writing: (a) Bank: The Chase
Manhattan Bank, 4 Chase MetroTech Center, Brooklyn, N.Y. 11245, Attention:
Global Investor Services, Investment
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Management Group (Colonial Relationship Manager) and to The Chase Manhattan
Bank, 3 Chase MetroTech Center, 8th floor, Brooklyn, N.Y. 11245, Attention:
Colonial Service Manager; and (b) Customer: [Fund name} c/o Colonial Management
Associates, Inc., Xxx Xxxxxxxxx Xxxxxx, Xxxxxx, XX 00000. Att; Fund Accounting.
(j) Termination. This Agreement may be terminated by Customer or Bank
by giving ninety (90) days written notice to the other, provided that such
notice to Bank shall specify the names of the persons to whom Bank shall deliver
the Assets in the Accounts. If notice of termination is given by Bank, Customer
shall, within ninety (90) days following receipt of the notice, deliver to Bank
Instructions specifying the names of the persons to whom Bank shall deliver the
Assets. In either case Bank shall deliver the Assets to the persons so
specified, after deducting any amounts which Bank determines in good faith to be
owed to it under Section 13, an explanation for any such deductions shall be
furnished to Customer. If within ninety (90) days following receipt of a notice
of termination by Bank, Bank does not receive Instructions from Customer
specifying the names of the persons to whom Bank shall deliver the Assets, Bank,
at its election, may deliver the Assets to a bank or trust company doing
business in the State of New York to be held and disposed of pursuant to the
provisions hereof, or to Authorized Persons, or may continue to hold the Assets
until Instructions are provided to Bank.
(k) Imputation of certain information. Bank shall not be held
responsible for and shall not be required to have regard to information held by
any person by imputation or information of which Bank is not aware by virtue of
a "Chinese Wall" arrangement. If Bank becomes aware of confidential information
which in good faith it feels inhibits it from effecting a transaction hereunder
Bank may refrain from effecting it.
(l) Year 2000. Bank confirms that it is aware of the problem that may
be presented for certain computer systems by use of date fields and the like on
and after January 1, 2000 and that Bank has developed and is implementing a plan
to help assure that Bank's systems as the same relate to services provided
hereunder will be unaffected by such problems.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first-above written.
CUSTOMER
--------
Trust Series
----- ------
Colonial Trust I Colonial High Yield Securities Fund
Colonial Income Fund
Colonial Strategic Income Fund
Colonial Tax-Managed Growth Fund
Colonial Trust II Colonial Government Money Market Fund
Colonial U.S. Government Fund
Colonial Short Duration U.S. Government Fund
Colonial Newport Tiger Cub Fund
Colonial Newport Japan Fund
Newport Greater China Fund
Colonial Trust III Colonial Select Value Fund
The Colonial Fund
Colonial Federal Securities Fund
Colonial Global Equity Fund
Colonial International Horizons Fund
Colonial International Fund for Growth
Colonial Strategic Balanced Fund
Colonial Trust IV Colonial Tax-Exempt Fund
Colonial Tax-Exempt Insured Fund
Colonial Municipal Money Market Fund
Colonial High Yield Municipal Fund
Colonial Utilities Fund
Colonial Intermediate Tax-Exempt Fund
Colonial Trust V Colonial Massachusetts Tax-Exempt Fund
Colonial Minnesota Tax-Exempt Fund
Colonial Michigan Tax-Exempt Fund
Colonial New York Tax-Exempt Fund
Colonial Ohio Tax-Exempt Fund
Colonial California Tax-Exempt Fund
Colonial Connecticut Tax-Exempt Fund
Colonial Florida Tax-Exempt Fund
Colonial North Carolina Tax-Exempt Fund
11
Colonial Trust VI Colonial U.S. Stock Fund
Colonial Small Cap Value Fund
Colonial Aggressive Growth Fund
Colonial Equity Income Fund
Colonial International Equity Fund
Colonial Trust VII Colonial Newport Tiger Fund
Colonial Intermediate High Income Fund
Colonial InterMarket Income Trust I
Colonial Municipal Income Trust
Colonial High Income Municipal Trust
Colonial Investment Grade Municipal Trust
Keyport Variable
Investment Trust Colonial-Keyport Growth and Income Fund
Colonial-Keyport Utilities Fund
Colonial-Keyport International Fund for Growth
Colonial-Keyport U.S. Stock Fund
Colonial-Keyport Strategic Income Fund
Newport-Keyport Tiger Fund
Liberty All-Star Equity Fund, Variable Series
By:
--------------------------------------
Xxxxxxx X. Xxxxxx
Date:
--------------------------------------
Liberty All-Star Growth Fund, Inc.
Liberty All-Star Equity Fund
By:
--------------------------------------
Xxxxxxx X. Xxxxxx
Date:
-------------------------------------
THE CHASE MANHATTAN BANK
By:
--------------------------------------
Date:
--------------------------------------
12
Schedule A
August 17, 1997
Trust Series
Colonial Trust I Colonial High Yield Securities Fund
Colonial Income Fund
Colonial Strategic Income Fund
Colonial Tax-Managed Growth Fund
Colonial Trust II Colonial Government Money Market Fund
Colonial U.S. Government Fund
Colonial Short Duration U.S. Government Fund
Colonial Newport Tiger Cub Fund
Colonial Newport Japan Fund
Newport Greater China Fund
Colonial Trust III Colonial Select Value Fund
The Colonial Fund
Colonial Federal Securities Fund
Colonial Global Equity Fund
Colonial International Horizons Fund
Colonial International Fund for Growth
Colonial Strategic Balanced Fund
Colonial Trust IV Colonial Tax-Exempt Fund
Colonial Tax-Exempt Insured Fund
Colonial Municipal Money Market Fund
Colonial High Yield Municipal Fund
Colonial Utilities Fund
Colonial Intermediate Tax-Exempt Fund
Colonial Trust V Colonial Massachusetts Tax-Exempt Fund
Colonial Minnesota Tax-Exempt Fund
Colonial Michigan Tax-Exempt Fund
Colonial New York Tax-Exempt Fund
Colonial Ohio Tax-Exempt Fund
Colonial California Tax-Exempt Fund
Colonial Connecticut Tax-Exempt Fund
Colonial Florida Tax-Exempt Fund
Colonial North Carolina Tax-Exempt Fund
13
Colonial Trust VI Colonial U.S. Stock Fund
Colonial Small Cap Value Fund
Colonial Aggressive Growth Fund
Colonial Equity Income Fund
Colonial International Equity Fund
Colonial Trust VII Colonial Newport Tiger Fund
Colonial Intermediate High Income Fund
Colonial InterMarket Income Trust I
Colonial Municipal Income Trust
Colonial High Income Municipal Trust
Colonial Investment Grade Municipal Trust
Liberty All-Star Growth Fund, Inc.
Liberty All-Star Equity Fund
Keyport Variable
Investment Trust Colonial-Keyport Growth and Income Fund
Colonial-Keyport Utilities Fund
Colonial-Keyport International Fund for Growth
Colonial-Keyport U.S. Stock Fund
Colonial-Keyport Strategic Income Fund
Newport-Keyport Tiger Fund
Liberty All-Star Equity Fund, Variable Series
14
Schedule C
Colonial Funds
Global Custody Fee Schedule
April 17, 1997
Domestic Custody Services
Asset Based Fees Waived
Domestic Custody Transaction Fees
$ 5.00 per DTC or Fed Book Entry transaction
$ 7.00 per PTC transaction
$12.00 per Physical transaction
$25.00 per Future or Option Wire
$ 5.00 per Money Transfer
$ 4.00 per P&I - MBS
$ 7.00 per deliver and receive of block traded Repurchase Agreement
Note:
[bullet] Private placements that settle in physical form are priced
separately from those issues that settle in DTC or Cedel. The latter,
which are 144A eligible issues, are priced as any other DTC or Cedel
eligible issue.
[bullet] With respect to our global custody fees, you could also incur
out-or-pocket expenses which are charged at cost. these expenses can
include but are not limited to scrip and stamp fees, registration fees,
and legal fees. Photocopying an courier charges will not be charged to
Colonial.
[bullet] All out-of-pocket expenses are itemized and billed on a monthly basis,
as and when received.
[bullet] Within our global fee schedule, basis point charges are annualized and
based on month end market values
15
STATE OF MASSACUSETTS)
: ss.
COUNTY OF UNITED STATES OF AMERICA)
On this 3rd day of October, 1997, before me personally came Xxxxxxx X.
Xxxxxx, to me known, who being by me duly sworn, did depose and say that he
resides in Hingham, Massachusetts at 00 Xxxxxxxx Xxxx, that he is Secretary of
Colonial Trust I through VII and Vice President of Keyport Variable Investment
Trust, two of the entities described in and which executed the foregoing
instrument; that he knows the seal of said entities, that the seal affixed to
said instrument is such seal, that it was so affixed by order of said entity,
and that he signed his name thereto by like order.
Sworn to before me this 3rd
day of October, 1997.
Notary
STATE OF MASSACUSETTS)
: ss.
COUNTY OF UNITED STATES OF AMERICA)
On this 3rd day of October, 1997, before me personally came Xxxxxxx X.
Xxxxxx, to me known, who being by me duly sworn, did depose and say that he
resides in Concord, Massachusetts at 67 Authors Road, that he is Treasurer of
Liberty All-Star Growth Fund, Inc. and Liberty All-Star Equity Fund, two of the
entities described in and which executed the foregoing instrument; that he knows
the seal of said entities, that the seal affixed to said instrument is such
seal, that it was so affixed by order of said entity, and that he signed his
name thereto by like order.
Sworn to before me this 3rd
day of October, 1997.
Notary
2
STATE OF NEW YORK )
: ss.
COUNTY OF NEW YORK )
On this day of , 199 , before me personally came ,
to me known, who being by me duly sworn, did depose and say that he/she resides
in at ; that he/she is a Vice President of THE CHASE MANHATTAN BANK,
the corporation described in and which executed the foregoing instrument; that
he/she knows the seal of said corporation, that the seal affixed to said
instrument is such corporate seal, that it was so affixed by order of the Board
of Directors of said corporation, and that he/she signed his/her name thereto by
like order.
Sworn to before me this
day of , 199 .
Notary
Investment Company Rider to Global Custody Agreement
Between The Chase Manhattan Bank and
Each of the Trusts on behalf of each of the Funds set
forth in Schedule A to the Global Custody Agreement
effective August 17, 1997
The following modifications are made to the Agreement:
A. Add a new Section 15 to the Agreement as follows:
"15. Compliance with SEC rule 17f-5.
(a) Customer's board of directors (or equivalent body) (hereinafter
'Board') hereby delegates to Bank, and, except as to the country or countries as
to which Bank may, from time to time, advise Customer that it does not accept
such delegation, Bank hereby accepts the delegation to it, of the obligation to
perform as Customer's 'Foreign Custody Manager' (as that term is defined in SEC
rule 17f-5(a)(2)), both for the purpose of selecting Eligible Foreign Custodians
(as that term is defined in SEC rule 17f-5(a)(1), and as the same may be amended
from time to time, or that have otherwise been made exempt pursuant to an SEC
exemptive order) to hold Assets and of evaluating the contractual arrangements
with such Eligible Foreign Custodians (as set forth in SEC rule 17f-5(c)(2));
provided that, the term Eligible Foreign Custodian shall not include any
'Compulsory Depository.' A Compulsory Depository shall mean a securities
depository or clearing agency the use of which is compulsory because: (1) its
use is required by law or regulation, (2) securities cannot be withdrawn from
the depository, or (3) maintaining securities outside the depository is not
consistent with prevailing custodial practices in the country which the
depository serves. Compulsory Depositories used by Chase as of the date hereof
are set forth in Appendix 1-A hereto, and as the same may be amended on notice
to Customer from time to time.
(b) In connection with the foregoing, Bank shall:
(i) provide written reports notifying Customer's Board of the placement
of Assets with particular Eligible Foreign Custodians and of any
material change in the arrangements with such Eligible Foreign
Custodians, with such reports to be provided to Customer's Board at
such times as the Board deems reasonable and appropriate based on the
circumstances of Customer's foreign custody arrangements (and until
further notice from Customer such reports shall be provided not less
than quarterly with respect to the placement of Assets with particular
Eligible Foreign Custodians and with reasonable promptness upon the
occurrence of any material change in the arrangements with such
Eligible Foreign Custodians);
(ii) exercise such reasonable care, prudence and diligence in
performing as Customer's Foreign Custody Manager as a person having
responsibility for the safekeeping of Assets would exercise;
(iii) in selecting an Eligible Foreign Custodian, first have determined
that Assets placed and maintained in the safekeeping of such Eligible
Foreign Custodian shall be subject to reasonable care, based on the
standards applicable to custodians in the relevant market, after having
considered all factors relevant to the safekeeping of such Assets,
including, without limitation, those factors set forth in SEC rule 17f-
5(c)(1)(i)-(iv);
(iv) determine that the written contract with the Eligible Foreign
Custodian (or, in the case of an Eligible Foreign Custodians that is a
securities depository or clearing agency, such contract, the rules or
established practices or procedures of the depository, or any
combination of the foregoing) requires that the Eligible Foreign
Custodian will provide reasonable care for Assets based on the
standards applicable to custodians in the relevant market. In making
this determination, Bank shall consider the provisions of Rule
17f-5(c)(2), together with whether Bank shall be liable to Customer for
any loss which shall occur as the result of the failure of the Eligible
Foreign Custodian to exercise reasonable care with respect to the
safekeeping of such Assets to the same extent that Bank would be liable
to Customer if Bank were holding such Assets in New York; and
(v) have established a system to monitor the continued appropriateness
of maintaining Assets with particular Eligible Foreign Custodians and
of the governing contractual arrangements; it being understood,
however, that in the event that Bank shall have determined that the
existing Eligible Foreign Custodian in a given country would no longer
afford Assets reasonable care and that no other Eligible Foreign
Custodian in that country would afford reasonable care, Bank shall
promptly so advise Customer and shall then act in accordance with the
Instructions of Customer with respect to the disposition of the
affected Assets.
Subject to (b)(i)-(v) above, Bank is hereby authorized to place and maintain
Assets on behalf of Customer with Eligible Foreign Custodians pursuant to a
written contract deemed appropriate by Bank.
(c) Except as expressly provided herein, Customer shall be solely
responsible to assure that the maintenance of Assets hereunder complies with the
rules, regulations, interpretations and exemptive orders promulgated by or under
the authority of the SEC.
(d) Bank represents to Customer that it is a U.S. Bank as defined in
Rule 17f-5(a)(7). Customer represents to Bank that: (1) the Assets being placed
and maintained in Bank's custody are subject to the Investment Company Act of
1940, as amended (the '1940 Act'), as the same may be amended from time to time;
(2) its Board: (i) has determined that it is reasonable to rely on Bank to
perform as Customer's Foreign Custody Manager (ii) or its investment advisor
shall have determined that Customer may maintain Assets in each country in which
Customer's Assets shall be held hereunder and determined to accept the risks
arising therefrom (including, but not limited to, a country's financial
infrastructure (and including any Compulsory Depository operating in such
country), prevailing custody and settlement practices, laws applicable to the
safekeeping and recovery of Assets held in custody, and the likelihood of
nationalization, currency controls and the like)."
B. Add the following after the first sentence of Section 3 of the
Agreement: "At the request of Customer, Bank may, but need not, add to Schedule
B an Eligible Foreign Custodian that is either a bank or a non-Compulsory
Depository where Bank has not acted as Foreign Custody Manager with respect to
the selection thereof. Bank shall notify Customer in the event that it elects
not to add any such entity."
C. Add the following language to the end of Section 3 of
the Agreement:
"The term Subcustodian as used herein shall mean the following:
(a) a 'U.S. Bank,' which shall mean a U.S. bank as defined
in SEC rule 17f-5(a)(7);
(b) an 'Eligible Foreign Custodian,' which shall mean (i) a banking
institution or trust company, incorporated or organized under the laws
of a country other than the United States, that is regulated as such by
that country's government or an agency thereof, (ii) a majority-owned
direct or indirect subsidiary of a U.S. bank or bank holding company
which subsidiary is incorporated or organized under the laws of a
country other than the United States; (iii) a securities depository or
clearing agency,
2
incorporated or organized under the laws of a country other than the
United States, that acts as a system for the central handling of
securities or equivalent book-entries in that country and that is
regulated by a foreign financial regulatory authority as defined under
section 2(a)(5) of the 1940 Act, (iv) a securities depository or
clearing agency organized under the laws of a country other than the
United States to the extent acting as a transnational system for the
central handling of securities or equivalent book-entries, and (v) any
other entity that shall have been so qualified by exemptive order, rule
or other appropriate action of the SEC.
For purposes of clarity, it is agreed that as used in Section 12(a)(i), the term
Subcustodian shall include neither any Eligible Foreign Custodian as to which
Bank has not acted as Foreign Custody Manager nor any Compulsory Depository."
D. Insert the following language at the beginning of the second
sentence of Section 12(a)(i):
"Except with respect to those countries as to which the parties may
from time to time agree in writing otherwise,".
E. In recognition of the fact that compliance with amended Rule 17f-5
is in an early stage of development and of the importance to Bank of the
relationship between Bank and Customer, Bank hereby agrees that, if prior to
June 15, 1998, Bank makes any material change to this rider for its mutual fund
customers, Customer shall be given the option of continuing to operate under
this rider or pursuant to the changed rider. Customer shall promptly notify Bank
of whether or not it elects to operate pursuant to the changed rider, and if it
does so elect, such election shall be effective on and after the date that Bank
receives such notice.
3
Appendix 1-A
COMPULSORY DEPOSITORIES
----------------------------------------------------------------------------------------------------------------------------------
Argentina Caja de Valores Equity, Corporate & Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Australia Austraclear Ltd. Corporate Debt, Money Market &
Semi-Government Debt
----------------------------------------------------------------------------------------------------------------------------------
CHESS Equity
(Clearing House Electronic Sub-register System)
----------------------------------------------------------------------------------------------------------------------------------
RITS Government Debt
(Reserve Bank Information and Transfer System)
----------------------------------------------------------------------------------------------------------------------------------
Austria Oesterreichische Knotrolbank AG Equity, Corporate + Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Belgium CIK Equity + Corporate Debt
(Caisse Interprofessionnelle de
Depots et de Virements de Titres)
----------------------------------------------------------------------------------------------------------------------------------
Banque Nationale de Belgique Treasury Bills + Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Brazil BOVESPA Equity
(Bolsa de Valores de Sao Paolo)
----------------------------------------------------------------------------------------------------------------------------------
BVRJ Equity
(Bolsa de Valores de Rio de Janeiro)
----------------------------------------------------------------------------------------------------------------------------------
Canada CDS Equity, Corporate + Government Debt
(Canadian Depository for Securities)
----------------------------------------------------------------------------------------------------------------------------------
China, SSCCRC Equity
Shanghai (Shanghai Securities Central Clearing and
Registration Corp.)
----------------------------------------------------------------------------------------------------------------------------------
China, SSCC Equity
Shenzhen (Shenzhen Securities Registration Co., Ltd.)
----------------------------------------------------------------------------------------------------------------------------------
Czech SCP Equity + Long-Term Government Debt
Republic (Securities Center)
----------------------------------------------------------------------------------------------------------------------------------
TKD Treasury Bills + Money Market
(Trh Kratkododich Dlluhopisu or Short-Term
Bond Market)
----------------------------------------------------------------------------------------------------------------------------------
Denmark VP Equity, Corporate + Government Debt
(Vaerdipapircentralen)
----------------------------------------------------------------------------------------------------------------------------------
Egypt Misr Clearing & Sec. Dep. Equity
----------------------------------------------------------------------------------------------------------------------------------
Estonia EVK Equity
(Estonian Central Depository for Securities Ltd.)
----------------------------------------------------------------------------------------------------------------------------------
Euromarket Cedel & Euroclear Euro-Debt
----------------------------------------------------------------------------------------------------------------------------------
Finland CSR Equity + Government Debt
(Central Share Registry Finland)
----------------------------------------------------------------------------------------------------------------------------------
Helsinki Money Market Center Ltd. Money Market
----------------------------------------------------------------------------------------------------------------------------------
France SICOVAM Equity + Corporate Debt.
(Banque de France)
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
France SATURNE Government Debt.
(Banque de France)
----------------------------------------------------------------------------------------------------------------------------------
Germany DKV Equity, Corporate + Government Debt
(Deutscher Kassenverein)
----------------------------------------------------------------------------------------------------------------------------------
Greece Apothetirio Titlon A.E. Equity
----------------------------------------------------------------------------------------------------------------------------------
Bank of Greece Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Hong Kong CCASS Equity
(Central Clearing and Settlement System)
----------------------------------------------------------------------------------------------------------------------------------
CMU Corporate + Government Debt
(Central Moneymarkets Unit)
----------------------------------------------------------------------------------------------------------------------------------
Hungary Keler Ltd. Equity + Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Ireland CREST Equity
----------------------------------------------------------------------------------------------------------------------------------
GSO Government Debt
(Gilt Settlement Office)
----------------------------------------------------------------------------------------------------------------------------------
Israel TASE Clearing House Equity, Corporate + Government Debt
(Tel Aviv Stock Exchange Clearing House)
----------------------------------------------------------------------------------------------------------------------------------
Italy Monte Titoli Equity + Corporate Debt
----------------------------------------------------------------------------------------------------------------------------------
Bank of Italy Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Japan Bank of Japan Registered Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Latvia LCD Equity + Government Debt
(Latvian Central Depository)
----------------------------------------------------------------------------------------------------------------------------------
Lebanon Midclear Equity
(Custodian and Clearing Center of Lebanon and the
Middle East)
----------------------------------------------------------------------------------------------------------------------------------
Luxembourg Cedel Equity
----------------------------------------------------------------------------------------------------------------------------------
Malaysia MCD Equity
(Malaysian Central Depository Snd Bhd)
----------------------------------------------------------------------------------------------------------------------------------
Mauritius CDS Equity
(Central Depository System)
----------------------------------------------------------------------------------------------------------------------------------
Mexico Indeval Equity, Corporate + Government Debt
(Institucion para el Deposito de Valores)
----------------------------------------------------------------------------------------------------------------------------------
Morocco Maroclear Equity + Corporate Debt
----------------------------------------------------------------------------------------------------------------------------------
Bank Al'Maghrib Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Netherlands NECIGEF/KAS Associate NV Equity, Corp. + Govt. D
----------------------------------------------------------------------------------------------------------------------------------
De Nederlandsche Bank N.V. Money Market
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
Netherlands NIEC Premium Bonds
(Nederlands Interpforessioneel
Effectencentrum B.V.)
----------------------------------------------------------------------------------------------------------------------------------
2
----------------------------------------------------------------------------------------------------------------------------------
New Zealand Austraclear New Zealand Equity, Corporate + Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Norway VPS Equity, Corporate + Government Debt
(Verdipapirsentralen)
----------------------------------------------------------------------------------------------------------------------------------
Oman NONE
----------------------------------------------------------------------------------------------------------------------------------
Pakistan CDC Equity
(Central Depository Company of Pakistan Ltd.)
----------------------------------------------------------------------------------------------------------------------------------
Peru CAVALI Equity
(Caja de Valores)
----------------------------------------------------------------------------------------------------------------------------------
Philippines PCD Equity
(Philippine Central Depository)
----------------------------------------------------------------------------------------------------------------------------------
Poland NDS Equity, Long-Term Government Debt +
Vouchers
(National Securities Depository)
----------------------------------------------------------------------------------------------------------------------------------
CRT Treasury-Bills
(Central Registry of Treasury-Bills)
----------------------------------------------------------------------------------------------------------------------------------
Portugal Interbolsa Equity, Corporate + Government Debt
----------------------------------------------------------------------------------------------------------------------------------
Romania SNCDD - RASDAQ Equity
(National Company for Clearing, Settlement
and Depository for Securities)
----------------------------------------------------------------------------------------------------------------------------------
Budapest Stock Exchange Registry Equity
----------------------------------------------------------------------------------------------------------------------------------
National Bank of Romania Treasury-Bills
----------------------------------------------------------------------------------------------------------------------------------
Russia MICEX GKO's
(Moscow Interbank Currency Exchange) (Gosudarstvennye Kratkosrochnye
Obyazatelstva
[T-Bills])
OFZ's
(Obligatsyi Federalnogo Zaima [Federal
Loan Bonds])s
----------------------------------------------------------------------------------------------------------------------------------
Singapore CDP Equity + Corporate Debt and Malaysian
equities (Central Depository Pte. Ltd.) traded on CLOB
----------------------------------------------------------------------------------------------------------------------------------
Monetary Authority of Government Debt
Singapore
----------------------------------------------------------------------------------------------------------------------------------
Slovak SCP Equity + Government Debt
Republic (Stredisko Cennych Papiru)
----------------------------------------------------------------------------------------------------------------------------------
National Bank of Slovakia Treasury-Bills
----------------------------------------------------------------------------------------------------------------------------------
So. Africa CD Corporate + Government Debt
(Central Depository)
----------------------------------------------------------------------------------------------------------------------------------
So. Korea KSD Equity, Corporate + Government Debt
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
Spain SCLV Equity + Corporate Debt.
(Servicio de Compensacion y Liquidacion de Valores)
----------------------------------------------------------------------------------------------------------------------------------
CBEO Government Debt
(Central Book Entry Office)
----------------------------------------------------------------------------------------------------------------------------------
Sri Lanka CDS Equity
(Central Depository System (Private) Ltd.)
----------------------------------------------------------------------------------------------------------------------------------
3
----------------------------------------------------------------------------------------------------------------------------------
Sweden VPC Equity, Corporate + Government Debt
(Vardepapperscentralen AB)
----------------------------------------------------------------------------------------------------------------------------------
Switzerland SEGA Equity, Corporate + Government Debt
(Schweizerische Effekten-Giro AG)
----------------------------------------------------------------------------------------------------------------------------------
Taiwan TSCD Equity + Government Debt
(Taiwan Securities Central Depository Co., Ltd.)
----------------------------------------------------------------------------------------------------------------------------------
Thailand TSDC Equity, Corporate + Government Debt
(Thailand Securities Depository Company Ltd.)
----------------------------------------------------------------------------------------------------------------------------------
Tunisia STICODEVAM Equity
(Societe Tunisienne Interprofessionnelle pour la
Compensation et le Depot des Valeurs Mobilieres)
----------------------------------------------------------------------------------------------------------------------------------
Ministry of Finance Government Debt tradable on the stock
exchange (BTNBs)
----------------------------------------------------------------------------------------------------------------------------------
Central Bank of Tunisia Government Debt not tradable on the
stock exchange
(BTCs)
----------------------------------------------------------------------------------------------------------------------------------
Turkey Takas Bank Equity + Corporate Debt
----------------------------------------------------------------------------------------------------------------------------------
Central Bank of Turkey Government Debt
----------------------------------------------------------------------------------------------------------------------------------
United CREST Equity + Corp. Debt
Kingdom
----------------------------------------------------------------------------------------------------------------------------------
CMO Sterling CDs & CP
(Central Moneymarket Office)
----------------------------------------------------------------------------------------------------------------------------------
CGO Gilts
(Central Gilts Office)
----------------------------------------------------------------------------------------------------------------------------------
United States DTC Equity + Corporate Debt
(Depository Trust Company)
----------------------------------------------------------------------------------------------------------------------------------
PTC Mortgage Back Debt
(Participants Trust Company)
----------------------------------------------------------------------------------------------------------------------------------
Fed Book-Entry Government Debt.
----------------------------------------------------------------------------------------------------------------------------------
Zambia XxXX Equity + Government Debt
(XxXX Central Shares Depository Ltd.)
----------------------------------------------------------------------------------------------------------------------------------
4
GLOBAL PROXY SERVICE RIDER
To Global Custody Agreement
Between
THE CHASE MANHATTAN BANK
And
EACH OF THE TRUSTS ON BEHALF OF EACH OF THE FUNDS SET
FORTH IN SCHEDULE A TO THE GLOBAL CUSTODY AGREEMENT
dated August 17, 1997
1. Global Proxy Services ("Proxy Services") shall be provided for the
countries listed in the procedures and guidelines ("Procedures")
furnished to Customer, as the same may be amended by Bank from time to
time on prior notice to Customer. The Procedures are incorporated by
reference herein and form a part of this Rider.
2. Proxy Services shall consist of those elements as set forth in the
Procedures, and shall include (a) notifications ("Notifications") by
Bank to Customer of the dates of pending shareholder meetings,
resolutions to be voted upon and the return dates as may be received by
Bank or provided to Bank by its Subcustodians or third parties, and (b)
voting by Bank of proxies based on Customer directions. Original proxy
materials or copies thereof shall not be provided. Notifications shall
generally be in English and, where necessary, shall be summarized and
translated from such non-English materials as have been made available
to Bank or its Subcustodian. In this respect Bank's only obligation is
to provide information from sources it believes to be reliable and/or
to provide materials summarized and/or translated in good faith. Bank
reserves the right to provide Notifications, or parts thereof, in the
language received. Upon reasonable advance request by Customer, backup
information relative to Notifications, such as annual reports,
explanatory material concerning resolutions, management recommendations
or other material relevant to the exercise of proxy voting rights shall
be provided as available, but without translation.
3. While Bank shall attempt to provide accurate and complete
Notifications, whether or not translated, Bank shall not be liable for
any losses or other consequences that may result from reliance by
Customer upon Notifications where Bank prepared the same in good faith.
4 Notwithstanding the fact that Bank may act in a fiduciary capacity with
respect to Customer under other agreements or otherwise under the
Agreement, in performing Proxy Services Bank shall be acting solely as
the agent of Customer, and shall not exercise any discretion with
regard to such Proxy Services.
5. Proxy voting may be precluded or restricted in a variety of
circumstances, including, without limitation, where the relevant
Securities are: (i) on loan; (ii) at registrar for registration or
reregistration; (iii) the subject of a conversion or other corporate
action; (iv) not held in a name subject to the control of Bank or its
Subcustodian or are otherwise held in a manner which precludes voting;
(v) not capable of being voted on account of local market regulations
or practices or restrictions by the issuer; or (vi) held in a margin or
collateral account.
6. Customer acknowledges that in certain countries Bank may be unable to
vote individual proxies but shall only be able to vote proxies on a net
basis (e.g., a net yes or no vote given the voting instructions
received from all customers).
7. Customer shall not make any use of the information provided hereunder,
except in connection with the funds or plans covered hereby, and shall
in no event sell, license, give or otherwise make the information
provided hereunder available, to any third party, and shall not
directly or indirectly compete with Bank or diminish the market for
Proxy Services by provision of such information, in whole or in part,
for compensation or otherwise, to any third party.
8. The names of Authorized Persons for Proxy Services shall be furnished
to Bank in accordance with ss.10 of the Agreement. Proxy Services fees
shall be as set forth in ss.13 of the Agreement or as separately
agreed.
2
SPECIAL TERMS AND CONDITIONS RIDER
GLOBAL CUSTODY AGREEMENT
WITH EACH OF THE TRUSTS ON BEHALF OF
EACH OF THE FUNDS SET FORTH IN SCHEDULE A
TO THE GLOBAL CUSTODY AGREEMENT
DATED AUGUST 17, 1997
DOMESTIC AND GLOBAL
SPECIAL TERMS AND CONDITIONS RIDER
Domestic Corporate Actions and Proxies
With respect to domestic U.S. and Canadian Securities (the latter if held in
DTC), the following provisions shall apply rather than the pertinent provisions
of Section 8 of the Agreement and the Global Proxy Service rider:
Bank shall send to Customer or the Authorized Person for a Custody
Account, such proxies (signed in blank, if issued in the name of Bank's
nominee or the nominee of a central depository) and communications with
respect to Securities in the Custody Account as call for voting or
relate to legal proceedings within a reasonable time after sufficient
copies are received by Bank for forwarding to its customers. In
addition, Bank shall follow coupon payments, redemptions, exchanges or
similar matters with respect to Securities in the Custody Account and
advise Customer or the Authorized Person for such Account of rights
issued, tender offers or any other discretionary rights with respect to
such Securities, in each case, of which Bank has received notice from
the issuer of the Securities, or as to which notice is published in
publications routinely utilized by Bank for this purpose.
Schedule B
August, 1997
SUB-CUSTODIANS EMPLOYED BY
THE CHASE MANHATTAN BANK, LONDON, GLOBAL CUSTODY
COUNTRY SUB-CUSTODIAN CORRESPONDENT BANK
------- ------------- ------------------
ARGENTINA The Chase Manhattan Bank The Chase Manhattan Bank
Arenales 707, 5th Floor Buenos Xxxxx
Xx Xxxx 000/000
0000Xxxxxx Xxxxx
XXXXXXXXX
AUSTRALIA The Chase Manhattan Bank The Chase Manhattan Bank
36th Floor Sydney
World Trade Centre
Xxxxxxx Xxxxxx
Xxxxxx
Xxx Xxxxx Xxxxx 0000
XXXXXXXXX
AUSTRIA Creditanstalt - Bankverein Credit Lyonnais Bank
Xxxxxx Xxxxxxx Xxxxx - 0 Xxxxxx
X - 0000, Xxxxxx
XXXXXXX
BAHRAIN The British Bank of the Middle East National Bank of Bahrain
PO Box 57 Manama
Manama
BAHRAIN
BANGLADESH Standard Chartered Bank Standard Chartered Bank
18-20 Motijheel C.A. Xxxxx
Xxx 000,
Xxxxx-0000
XXXXXXXXXX
XXXXXXX Generale Bank Credit Xxxxxxxx Xxxx
0 Xxxxxxxx Xx Xxxx Xxxxxxxx
0000 Bruxelles
BELGIUM
BERMUDA The Bank of Bermuda Ltd The Bank of Bermuda Ltd
0 Xxxxx Xxxxxx Xxxxxxxx
Xxxxxxxx
XXXXXXX
XXXXXXXX Barclays Bank of Botswana Limited Barclays Bank of Botswana
Barclays House Gaborone
Khama Crescent
Gaborone
BOTSWANA
BRAZIL Banco Chase Manhattan, S.A. Banco Chase Manhattan X.X.
Xxxxx Manhattan Center Sao Xxxxx
Xxx Verbo Divino, 1400
Sao Paulo, SP 00000-000
XXXXXX
CANADA The Royal Bank of Canada Royal Bank of Canada
Royal Bank Plaza Toronto
Toronto
Xxxxxxx X0X 0X0
XXXXXX
Xxxxxx Trust Royal Bank of Canada
Canada Trust Tower Toronto
BCE Place
000 Xxx xx Xxxxx
Xxxxxxx
Xxxxxxx X0X 0X0
XXXXXX
CHILE The Chase Manhattan Bank, The Chase Manhattan Bank,
Agustinas 1235 Xxxxxxxx
Xxxxxxx 0000
Xxxxxxxx
XXXXX
COLOMBIA Cititrust Colombia S.A. Cititrust Colombia S.A.
Sociedad Fiduciaria Sociedad Fiduciaria
Carrera 9a No 99-02 Santafe de Bogota
Santafe de Bogota, DC
COLOMBIA
CYPRUS Barclays Bank plc Barclays Bank plc,
Cyprus Offshore Banking Unit Nicosia
2nd & 3rd Floor
88 Dighenis Xxxxxxx Xxxxxx
XX Xxx 0000
0000 Xxxxxxx
XXXXXX
CZECH REPUBLIC Ceskoslovenska Obchodni Banka, A.S. Komercni Banka, A.S.,
Xx Xxxxxxx 00 Xxxxx
000 00 Xxxxx 0
XXXXX XXXXXXXX
DENMARK Den Xxxxxx Xxxx Xxx Xxxxxx Xxxx
0 Xxxxxxx Xxxxxx XX 1091 Copenhagen
Copenhagen
DENMARK
ECUADOR Citibank, N.A. Citibank N.A.,
Xxxx Xxxx Xxxx Xxxxx
000 x Xxxxxx
Xxxxx
XXXXXXX
XXXXX National Bank of Egypt National Bank of Egypt
0000, Xxxxxxxx Xx-Xxxx Xxxxx Xxxxx
Xxxxx
XXXXX
ESTONIA HansaBank Tallinna Bank
Not 17f-5 eligible Xxxxxxxxx 0 Xxxxxxx
XX0000 Xxxxxxx
XXXXXXX
EUROBONDS Cedel Bank S.A. ECU:Lloyds Bank PLC
00 Xxxxxxxxx Xxxxxx Xxxxxxxx Xxxxxxxxx International Banking
LUXEMBOURG Division London
A/c The Chase Manhattan Bank, N.A. For all other currencies: see
London relevant country
A/c No. 17817
EURO CDS First Chicago Clearing Centre ECU:Lloyds Bank PLC
00 Xxxxxxxxxx Xxxxxx Banking Division Xxxxxx
Xxxxxx XX0X 0XX For all other currencies: see
UNITED KINGDOM relevant country
FINLAND Xxxxxx Bank Ltd Xxxxxx Bank Ltd
2598 Custody Services Helsinki
Xxxxxxxxxxxx 00X
Xxxxxxxx
XXXXXXX
XXXXXX Banque Paribas Societe Generale
Ref 256 Paris
XX 000
0, Xxx X'Xxxxx
75078 Xxxxx
Xxxxx 00
XXXXXX
XXXXXXX Chase Manhattan Bank X.X. Xxxxx Bank X.X.
00000 Xxxxxxxxx xx Xxxx Xxxxxxxxx
XXXXXXX
GHANA Barclays Bank of Ghana Ltd Barclays Bank
Barclays House Accra
High Street
Accra
GHANA
GREECE Barclays Bank Plc National Bank of Greece S.A.
0 Xxxxxxxxxxx Xxxxxx Xxxxxx
00000 Athens A/c Chase Manhattan Bank,
GREECE Xxxxxx X/x Xx. 000/0/000000-00
XXXX XXXX The Chase Manhattan Bank, The Chase Manhattan Bank,
00/X Xxx Xxxxxxxx Xxxxxx Xxxx Xxxx
0, Xxxxxxxxx Xxxxx
Xxxxxxx, Xxxx Xxxx
XXXX XXXX
XXXXXXX Citibank Budapest Rt. Citibank Budapest Rt.
Szabadsag ter 0-0 Xxxxxxxx
Xxxxxxxx X
X-0000
XXXXXXX
XXXXX The Hongkong and Shanghai The Hongkong and Shanghai
Banking Corporation Limited Banking Corporation Limited
00/00 Xxxxxxx Xxxxxx Xxxx Xxxxxx
Bombay 400 001
INDIA
Deutsche Bank AG Deutsche Bank
Securities & Custody Services Bombay
Kodak House
222 D.N. Road, Fort
Bombay 400 001
INDIA
INDONESIA The Hongkong and Shanghai The Chase Manhattan Bank
Banking Corporation Limited Jakarta
World Trade Center
J1. Jend Xxxxxxxx Xxx. 00-00
Xxxxxxx 00000
XXXXXXXXX
IRELAND Bank of Ireland Allied Irish Bank
International Financial Services Centre Dublin
0 Xxxxxxxxxxxxx Xxxxx
Xxxxxx 0
XXXXXXX
ISRAEL Bank Leumi Le-Israel B.M. Bank Leumi Le-Israel B.M.
00 Xxxxx Xxxxxx Xxx Xxxx
00000 Tel Aviv
ISRAEL
ITALY Banque Paribas, The Chase Manhattan Bank,
2 Xxxxxx Xxx Xxxxxx Xxxxx
00000 Xxxxx
XXXXX
JAPAN The Fuji Bank Ltd The Chase Manhattan Bank
6-7 Nihonbashi-Kabutocho Tokyo
Chuo-Ku
Tokyo
JAPAN
JORDAN Arab Bank Limited Arab Bank Limited
P O Box 950544-5 Amman
Amman
Shmeisani
JORDAN
KENYA Barclays Bank of Kenya Barclays Bank of Xxxxx
Xxxxx Xxxxx Xxxxxxx
Xxxxxxxxx Xxxxx
Xxxxxxx
Xxxxx
XXXXXX Hansabank - Latvija Hansabank - Latvija
Not 17f-5 Kalku iela 00 Xxxxxx
Xxxx, XX 0000
Xxxxxx
LEBANON The British Bank of the Middle East The Chase Manhattan Bank
Ras-Beirut Branch New York
PO Box 11-1380
Xxxxx Xxxx,
Ras-Beirut
Lebanon
LUXEMBOURG Banque Generale du Luxembourg S.A. Banque Generale du Luxembourg
50 Avenue X.X. Xxxxxxx X.X.
X-0000 XXXXXXXXXX Xxxxxxxxxx
MALAYSIA The Chase Manhattan Bank, The Chase Manhattan Bank,
Pernas International Kuala Lumpur
Xxxxx Xxxxxx Xxxxxx
00000, Xxxxx Xxxxxx
MALAYSIA
MAURITIUS Hongkong and Shanghai Banking Corporation Ltd Hongkong and
Curepipe Road Shanghai Banking
Curepipe Corporation Ltd.
MAURITIUS Curepipe
MEXICO The Chase Manhattan Bank, S.A. No correspondent Bank
Prolongacion Paseo de la Reforma no. 600,
PB Colonia Santa Xx Xxxx Xxxxxx
00000 Xxxxxx D.F.
MOROCCO Banque Commerciale du Maroc Banque Commerciale du Maroc
2 Boulevard Xxxxxx Xxxxxxx Xxxxxxxxxx
Xxxxxxxxxx 00000
XXXXXXX
XXXXXXX Standard Bank Namibia Ltd Standard Corporate &
Mutual Platz - 3rd Floor Xxxxxxxx Xxxx
X.X.Xxx 0000 Xxxxx Xxxxxx
Windhoek
NAMIBIA
NETHERLANDS ABN AMRO N.V. Generale Bank
Securities Centre Nederland N.V.
X X Xxx 0000 Xxxxxxxxx
0000 Xx Xxxxx
XXXXXXXXXXX
NEW ZEALAND National Nominees Limited National Bank of Xxx Xxxxxxx
Xxxxx 0 XXX Xxxxx Xxxxxxxxxx
000 Xxxxx Xxxxxx
Xxxxxxxx
XXX XXXXXXX
XXXXXX Xxx Xxxxxx Xxxx Xxx Xxxxxx Xxxx
Xxxxxxxx 00 Xxxx
XX Xxx 0000 Xxxxxxx
X-0000 Xxxx
XXXXXX
OMAN The British Bank of the Middle East Oman Arab Bank
Bait Al Falaj Ruwi, Muscat
Main Office
Ruwi, Muscat
SULTANATE OF OMAN
PAKISTAN Citibank N.A. Citibank N.A.
AWT Xxxxx Xxxxxxx
00 Xxxxxxxxxx Xxxx
Xxxxxxx 00000
XXXXXXXX
Deutsche Bank X.X. Xxxxxxxx Xxxx X.X.
Xxxxxxxxx Xxxxxxx
X.X. Xxxxxxxxxx Xxxx
Xxxxxxx
XXXXXXXX
PERU Citibank, N.A. Citibank N.A.
Camino Real 457 Lima
XX Xxxxx Real - 0xx Xxxxx
Xxx Xxxxxx, Xxxx 00
XXXX
XXXXXXXXXXX The Hongkong and Shanghai The Hongkong and Shanghai
Banking Corporation Limited Banking Corporation Limited
00/X Xxxxxxx Xxxxx X Xxxxxx
Xxxxxxxx Xxxx
Xxxxxxx Xxxxxx
Xxxxx Xxxx
XXXXXXXXXXX
POLAND Bank Handlowy W. Warszawie. S.A. Bank Handlowy W. Warszawie S.A..
Custody Dept. Warsaw
Capital Markets Centre
Ul, Nowy Swiat 0/00
00-000 Xxxxxx
XXXXXX
XXXXXXXX Banco Espirito Santo e Comercial de Lisboa Banco Nacional Ultra
Servico de Gestaode Titulos Marino
R. Mouzinho xx Xxxxxxxx, 36 r/c Lisbon
1200 Lisbon
PORTUGAL
ROMANIA ING Bank ING Bank
World Trade Centre Bucharest
Bld. Xxxxxxxxxx Xx. 0
00000 Xxxxxxxxx
Xxxxxxx
RUSSIA Chase Manhattan Bank International ("CMBI") The Chase Manhattan Bank
1st Tverskaya - Yamskaya, 23 New York
125047 Moscow A/C The Chase Manhattan
Russia London
(US$ Nostro Account)
SHANGHAI (CHINA) The Hongkong and Shanghai Citibank
Banking Corporation Limited New York
5/F. Marine Tower
0 Xxxxxx Xxxxxx
Xxxxxxxx 000000
THE PEOPLE'S REPUBLIC OF CHINA
SHENZHEN (CHINA) The Hongkong and Shanghai The Chase Manhattan Bank
Banking Corporation Limited Hong Kong
0xx Xxxxx
Xxxxxxx Xxxxx Hotel
No.1 Xxxx Xxxx Lu
Shenzhen
THE PEOPLE'S REPUBLIC OF CHINA
SINGAPORE The Chase Manhattan Bank, The Chase Manhattan Bank,
Custody Services Dept Singapore
000 Xxxxx Xxxx
00xx Xxxxx, Xxxxxxx Xxxx
XXXXXXXXX 000000
SLOVAK REPUBLIC Ceskoslovenska Obchodni Banka, A.S. Ceskoslovenska Obchodni Xxxxx
Xxxxxxxxx 00 Xxxxxx Xxxxxxxx
000 00 Xxxxxxxxxx
XXXXXX XXXXXXXX
XXXXX XXXXXX The Standard Bank of South Africa Limited The Standard Bank of
Standard Corporate and Merchant Bank Division South Africa Ltd
00 Xxxxxxxx Xxxxxx Xxxxxxxx Xxxxxxxxx and
Johannesburg 2001 Merchant Bank
SOUTH AFRICA South Africa
SOUTH KOREA The Hongkong & Shanghai The Hongkong & Shanghai
Banking Corporation Limited Banking Corporation Limited
0/X Xxxxx Xxxxxxxx Xxxxx
#0 Xxxxxxx, 0-xx Xxxxxxx-Xx,
Xxxxx
XXXXX XXXXX
XXXXX The Chase Manhattan Bank Chase Manhattan Bank,
Xxxxx xx xx Xxxxxxxxxx, 00 Xxxxxx
00000 Xxxxxx
XXXXX
SRI LANKA The Hongkong & Shanghai The Hongkong & Shanghai
Banking Corporation Limited Banking Corporation Limited
Xxxx #00-00 Xxxx Xxxxx, Xxxxxxx
Xxxxx Trade Center
Xxxxxxx 0,
XXX XXXXX
SWAZILAND Stanbic Bank Swaziland Ltd Standard Corporate and
Stanbic House Merchant Bank
X.X. Xxx X000, Xxxxx Xxxxx Xxxxx Xxxxxx
Mbabane
Swaziland
SWEDEN Skandinaviska Enskilda Banken Svenska Handelsbanken
Sergels Torg 2 Stockholm
X-000 00
Xxxxxxxxx
XXXXXX
SWITZERLAND Union Bank of Switzerland Union Bank of Xxxxxxxxxxx
00 Xxxxxxxxxxxxxx Xxxxxx
0000 Xxxxxx
XXXXXXXXXXX
TAIWAN The Chase Manhattan Bank, No correspondent Bank
00xx Xxxxx,
0, Xxx Xxx X. Xxxx Sec. 0
Xxxxxx
XXXXXX
Xxxxxxxx xx Xxxxx
XXXXXXXX The Chase Manhattan Bank, The Chase Manhattan Bank,
Bubhajit Building Bangkok
00 Xxxxx Xxxxxxx Xxxx
Xxxxx, Xxxxxxx
Xxxxxxx 00000
THAILAND
TUNISIA Banque Internationale Arabe de Tunisie Banque Internationale Arabe de
Not 17f-5 00-00 Xxxxxx Xxxxx Xxxxxxxxx Tunisie, Tunisia
X.X. Xxx 000
0000 Xxxxx Xxxxx
XXXXXXX
XXXXXX The Chase Manhattan Bank, The Chase Manhattan Bank,
Emirhan Cad. No: 145 Istanbul
Atakule, A Blok Kat:11
00000-Xxxxxxxxx/Xxxxxxxx
Xxxxxxxx
XXXXXX
U.K. The Chase Manhattan Bank, The Chase Manhattan Bank,
Woolgate House London
Xxxxxxx Street
London EC2P 2HD
UNITED KINGDOM
URUGUAY The First National Bank of Boston The First National Bank of Boston
Xxxxxx 1463 Montevideo
Montevideo
URUGUAY
U.S.A. The Chase Manhattan Bank, The Chase Manhattan Bank,
1 Chase Manhattan Plaza New York
New York
NY 10081
U.S.A.
VENEZUELA Citibank N.A. Citibank N.A.
Carmelitas a Xxxxxxxxxx Caracas
Xxxxxxxx Xxxxxxxx
Xxxxxxx 0000
XXXXXXXXX
XXXXXX Barclays Bank of Zambia Barclays Bank of Zambia
Xxxxx Xxxxx Xxxxxx
Xxxxx Xxxx
X.X.Xxx 00000
Xxxxxx
XXXXXX
ZIMBABWE Barclays Bank of Zimbabwe Barclays Bank of Zimbabwe
2nd Floor Harare
0 Xxxxxx Xxxxx
Xxxxx Xxxx Xxxxxx
Xxxxxx
ZIMBABWE
COLONIAL FUNDS
GLOBAL CUSTODY FEE SCHEDULE
APRIL 17, 1997
------------------------------------------------------------------------------
COUNTRY BASIS POINTS TRANSACTION FEES
------------------------------------------------------------------------------
ARGENTINA 35 1st 100mm $100.00
------------------------------------------------------------------------------
30 next 200mm
------------------------------------------------------------------------------
25 over 300mm
------------------------------------------------------------------------------
AUSTRALIA 5 $30.00
------------------------------------------------------------------------------
AUSTRIA 10 $50.00
------------------------------------------------------------------------------
BANGLADESH 35 $100.00
------------------------------------------------------------------------------
BELGIUM 10 $50.00
------------------------------------------------------------------------------
BOTSWANA 35 $100.00
------------------------------------------------------------------------------
BRAZIL 35 1st 100mm $100.00
------------------------------------------------------------------------------
30 next 200mm
------------------------------------------------------------------------------
25 over 300mm
------------------------------------------------------------------------------
CANADA 6 $35.00
------------------------------------------------------------------------------
CEDEL 3 $25.00
------------------------------------------------------------------------------
CHILE 35 $100.00
------------------------------------------------------------------------------
CHINA(SHANGHAI) 35 $100.00
------------------------------------------------------------------------------
CHINA(SHENZHEN) 35 $100.00
------------------------------------------------------------------------------
COLOMBIA 35 $100.00
------------------------------------------------------------------------------
CYPRUS 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
CZECH REPUBLIC 35 $100.00
------------------------------------------------------------------------------
DENMARK 7 $50.00
------------------------------------------------------------------------------
ECUADOR 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
EGYPT 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
FINLAND 10 $50.00
------------------------------------------------------------------------------
EURO CD'S 3 $25.00
------------------------------------------------------------------------------
FRANCE 6 $30.00
------------------------------------------------------------------------------
GHANA 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
GERMANY 6 $30.00
------------------------------------------------------------------------------
GREECE 35 $100.00
------------------------------------------------------------------------------
HONG KONG 6 $50.00
------------------------------------------------------------------------------
Page 1
COLONIAL FUNDS
GLOBAL CUSTODY FEE SCHEDULE
APRIL 17, 1997
------------------------------------------------------------------------------
HUNGARY 35 $100.00
------------------------------------------------------------------------------
INDIA 35 $100.00
------------------------------------------------------------------------------
INDONESIA 25 1st 200mm $100.00
------------------------------------------------------------------------------
20 over 200mm
------------------------------------------------------------------------------
IRELAND 8 $35.00
------------------------------------------------------------------------------
ISRAEL 35 $100.00
------------------------------------------------------------------------------
ITALY 10 $50.00
------------------------------------------------------------------------------
JAMACIA/T&T 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
JAPAN 4 $35.00
------------------------------------------------------------------------------
JORDAN 35 $100.00
------------------------------------------------------------------------------
KENYA 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
KOREA 11 $75.00
------------------------------------------------------------------------------
LUXEMBOURG 8 $35.00
------------------------------------------------------------------------------
MALAYSIA 6 $50.00
------------------------------------------------------------------------------
MAURITIUS 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
MEXICO 12 $75.00
------------------------------------------------------------------------------
MOROCCO 35 $100.00
------------------------------------------------------------------------------
NEPAL 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
NETHERLANDS 6 $30.00
------------------------------------------------------------------------------
NEW ZEALAND 10 $50.00
------------------------------------------------------------------------------
NORWAY 10 $50.00
------------------------------------------------------------------------------
PAKISTAN 35 $100.00
------------------------------------------------------------------------------
PERU 35 $100.00
------------------------------------------------------------------------------
PHILIPPINES 25 1st 200mm $100.00
------------------------------------------------------------------------------
20 over 200mm
------------------------------------------------------------------------------
POLAND 35 $100.00
------------------------------------------------------------------------------
PORTUGAL 35 $100.00
------------------------------------------------------------------------------
SINGAPORE 5 $50.00
------------------------------------------------------------------------------
SLOVAKIA 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
SLOVENIA 50 1st 100mm $150.00
------------------------------------------------------------------------------
Page 2
COLONIAL FUNDS
GLOBAL CUSTODY FEE SCHEDULE
APRIL 17, 1997
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
SOUTH AFRICA 13 $75.00
------------------------------------------------------------------------------
SPAIN 11 $75.00
------------------------------------------------------------------------------
SRI LANKA 35 $100.00
------------------------------------------------------------------------------
SWEDEN 10 $50.00
------------------------------------------------------------------------------
SWITZERLAND 6 $30.00
------------------------------------------------------------------------------
TAIWAN 35 $100.00
------------------------------------------------------------------------------
THAILAND 8 $75.00
------------------------------------------------------------------------------
TUNISIA 35 $100.00
------------------------------------------------------------------------------
TURKEY 35 $100.00
------------------------------------------------------------------------------
UK 6 $35.00
------------------------------------------------------------------------------
URUGUAY 35 $100.00
------------------------------------------------------------------------------
VENEZUELA 35 $100.00
------------------------------------------------------------------------------
VIETNAM 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
ZAMBIA 50 1st 100mm $150.00
------------------------------------------------------------------------------
45 next 200mm
------------------------------------------------------------------------------
40 over 300mm
------------------------------------------------------------------------------
ZIMBABWE 35 $100.00
------------------------------------------------------------------------------
Note: In countries where tiered pricing applies, the calculation is based on
daily net assets in aggregate of the Colonial/Newport and Xxxxx Xxx Funds.
Page 3
