Exhibit 99(k)(4) CLAYMORE SECURITIES, INC. WAIVER RELIANCE LETTER99 • October 22nd, 2003 • Mbia Capital Claymore Man Dur Inv GRD Muni Fund
Claymore Securities, Inc. (the "Servicing Agent") and MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund (the "Fund") have entered into a Servicing Agreement, dated as of the date hereof (the "Servicing Agreement"), pursuant to which the Servicing Agent has agreed to furnish certain services to the Fund on the terms and subject to the conditions of the Servicing Agreement.
