0001047469-98-033104 Sample Contracts

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Custodian Agreement • August 28th, 1998 • Painewebber Managed Municipal Trust /Ny/
LETTERHEAD]
Painewebber Managed Municipal Trust /Ny/ • August 28th, 1998

We hereby consent to the filing of this consent as an exhibit to the registration statement on Form N-1A for the California Fund dated as of the date hereof (the "Registration Statement") and to the use of our name as counsel to the California Fund with respect to California law in the Registration Statement and the Prospectus for the California Fund.

LETTERHEAD]
Painewebber Managed Municipal Trust /Ny/ • August 28th, 1998

We hereby consent to the filing of this consent as an exhibit to the registration statement on Form N-1A for the New York Fund dated as of the date hereof (the "Registration Statement") and to the use of our name as counsel to the New York Fund with respect to New York law in the Registration Statement and the Prospectus for the New York Fund.

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