0001047469-98-033104 Sample Contracts

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Consent Letter • August 28th, 1998 • Painewebber Managed Municipal Trust /Ny/

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.

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