Attachment 77m to form N-SAR for the fiscal period ended November 30, 1995: 1. An Agreement and Plan of Reorganization dated July 31, 1995 (the Plan) between Van Kampen American Capital Reserve Fund ( Reserve) and Van Kampen American Capital Money...

                       Attachment 77m to form N-SAR
                for the fiscal period ended November 30, 1995:


1.   An Agreement and Plan of Reorganization dated July 31, 1995 (the  Plan) 
     between ▇▇▇ ▇▇▇▇▇▇ American Capital Reserve  Fund ( Reserve) and ▇▇▇ 
     ▇▇▇▇▇▇ American Capital Money Market Trust, on behalf of its series, the 
     Van ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Money Market  Fund (Money Market), was approved by 
     the Board of Trustees of Reserve  on May 11, 1995. Following approval of 
     the reorganization by the shareholders of Money Market, the assets of 
     Money Market were transferred to Reserve  in exchange for a number of 
     shares of Reserve equal to the value of the aggregate net assets of 
     Money Market immediately prior to the transfer of assets of Money 
     Market to Reserve. 

2.   The above described reorganization was consummated on September 22, 1995  
     and Money Market distributed to its shareholders shares of Reserve 
     received in the reorganization.  Money Market had no assets or 
     liabilities after Septermber 22, 1995  and is being terminated pursuant 
     to Delaware law.