Exhibit (b)(2)
CERTAIN MUTUAL FUNDS MANAGED BY
DEUTSCHE INVESTMENT MANAGEMENT AMERICAS INC.
(FORMERLY KNOWN AS ZURICH ▇▇▇▇▇▇▇ INVESTMENTS, INC.),
TERMINATION, REPLACEMENT AND
RESTATEMENT AGREEMENT
DATED AS OF APRIL 10, 2003
RELATING TO
$1,300,000,000
CREDIT AGREEMENT
DATED AS OF APRIL 11, 2002
JPMORGAN CHASE BANK,
AS ADMINISTRATIVE AGENT
▇. ▇. ▇▇▇▇▇▇ SECURITIES INC.,
AS ADVISOR, LEAD ARRANGER, AND BOOK MANAGER
STATE STREET BANK AND TRUST CO. AND
DANSKE BANK NEW YORK BRANCH,
AS SYNDICATION AGENTS
TERMINATION, REPLACEMENT AND RESTATEMENT AGREEMENT (this "TRR AGREEMENT")
dated as of April 10, 2003, among (i) the undersigned registered investment
companies (each, a "FUND", and collectively, the "FUNDS"), each of which is
executing this TRR Agreement on behalf of itself, or, if applicable, certain of
its investment portfolios set forth beneath such Fund's name on the signature
pages hereon (each of which Funds or investment portfolios, as the case may be,
is, individually, a "BORROWER" and collectively, the "BORROWERS"), (ii) the
several banks and other financial institutions from time to time parties to this
TRR Agreement (as defined below, the "LENDERS") and (iii) JPMORGAN CHASE BANK, a
New York banking corporation, as administrative agent for the Lenders hereunder
(in such capacity, the "ADMINISTRATIVE AGENT");
WHEREAS, certain of the Borrowers, the Lenders and the Administrative
Agent are parties to a Credit Agreement (the "ORIGINAL CREDIT AGREEMENT") dated
as of April 11, 2002 (the "ORIGINAL CLOSING DATE"), as amended by the
Designation of New Borrower and First Amendment to Credit Agreement dated
November 19, 2002;
WHEREAS, the Original Credit Agreement is to be terminated as provided
herein; and
WHEREAS, the Lenders and the Administrative Agent are willing, subject to
the terms and conditions of this TRR Agreement, to replace the Original Credit
Agreement with a new credit agreement as provided herein.
NOW, THEREFORE, in consideration of the mutual agreements contained in
this TRR Agreement and other good and valuable consideration, the sufficiency
and receipt of which are hereby acknowledged, the parties hereto hereby agree as
follows:
SECTION 1. TERMINATION, REPLACEMENT AND RESTATEMENT.
Subject to the conditions set forth in Section 3 hereof:
(a) The Original Credit Agreement, including all schedules and exhibits
thereto, is hereby terminated, subject to applicable provisions set forth
therein as to the survival of certain rights and obligations, and simultaneously
replaced by a new credit agreement (the "NEW CREDIT AGREEMENT") identical in
form and substance to the Original Credit Agreement except as expressly set
forth below. (The terms of such Original Credit Agreement shall be deemed to be
incorporated by reference herein, but modified as expressly set forth below.)
Capitalized terms used but not defined herein shall have the meanings given them
in the New Credit Agreement.
(b) The preamble of the New Credit Agreement shall read as follows:
"AMENDED AND RESTATED CREDIT AGREEMENT, dated as of April 10, 2003
(as amended, restated, supplemented or otherwise modified from time
to time, this "Agreement") among (i) the registered investment
companies listed on Schedule I hereto (each, a "Fund", and
collectively, the "Funds"), each of which is executing this
Agreement on behalf of itself, or, if applicable, certain of its
respective investment portfolios set forth beneath such Fund's name
on
Schedule I hereto (each of which Funds or investment portfolios, as
the case may be, is, individually, a "Borrower" and, collectively,
the "Borrowers"), (ii) the several banks and other financial
institutions from time to time parties to this Agreement (the
"Lenders") and (iii) JPMORGAN CHASE BANK, a New York banking
corporation, as a Lender and as administrative agent for the Lenders
hereunder (in such capacity, the "Administrative Agent");"
(c) Section 1 (Defined Terms) of the New Credit Agreement shall be amended
as follows:
(i) the definition of "Aggregate Commitment" shall be amended by
replacing "$1,300,000,000" with "$1,250,000,000".
(ii) the definition of "Maturity Date" shall be amended by replacing
"(or, with respect to a Swing Line Loan, seven days after the Borrowing
date therefor)" with "(or, with respect to a Swing Line Loan, fourteen
days after the Borrowing date therefor)".
(iii) the definition of "Termination Date" shall amended by
replacing "April 10, 2003" with "April 8, 2004".
(d) The second sentence of Section 2.3(a) of the New Credit Agreement
shall be amended and restated to read in its entirety as follows: "Such
Commitment Fee shall be payable quarterly in arrears on the fifth Business Day
after the last Business Day of each March, June, September and December and on
the Termination Date, commencing on the first of such dates to occur after the
date hereof."
(e) Section 2.15(a) of the New Credit Agreement shall be amended by
replacing "Either the Swing Line Lender or the Administrative Agent, at any time
in its sole and absolute discretion may, and on the seventh day (or if such day
is not a Business Day, the next Business Day following the seventh day)" with
"Either the Swing Line Lender or the Administrative Agent, at any time in its
sole and absolute discretion may, and on the fourteenth day (or if such day is
not a Business Day, the next Business Day following the fourteenth day)".
(f) Section 3.2 of the New Credit Agreement shall be amended and restated
to read in its entirety as follows:
"3.2 No Change. For each Borrower, since the date of the statement
of assets and liabilities for the most recently ended fiscal year
for which annual reports have been prepared for such Borrower (such
date, the "Reporting Date"), there has been no development or event
which has had or could reasonably be expected to have a Material
Adverse Effect with respect to such Borrower. (For the avoidance of
doubt, the representation contained in this Section 3.2 shall be
made on and as of the date hereof only and shall not be brought down
at the time of any borrowing hereunder on any subsequent date.)"
2
(g) Section 6.12 of the New Credit Agreement shall be amended by replacing
"▇▇▇▇▇▇▇ Gold Fund" with "▇▇▇▇▇▇▇ Gold and Precious Metals Fund".
(h) Section 7 of the New Credit Agreement shall be amended by adding "or"
at the end of paragraph (j) and adding paragraph (k) to read in its entirety as
follows:
"(k) as specified in Section 2.17(a)(v) of this Agreement, a default
by a Borrower with respect to an Interfund Loan;"
(i) Section 9.10(b)(i)(vi) of the New Credit Agreement shall be amended
and restated to read in its entirety as follows:
"(vi) subject to an agreement containing provisions substantially
the same as those of this subsection, to any Assignee or Participant
or any prospective Assignee or Participant, or any actual or
proposed contractual counterparty (or its advisors) to any
securitization, hedge, or other derivative transaction relating to
the parties' obligations hereunder, which executes such agreement
or"
(j) Section 9.10(b) of the New Credit Agreement shall be amended by adding
clause (iii) at the end thereof to read in its entirety as follows:
"(iii) Notwithstanding any other provision in this Agreement, each
of the parties hereto (and each employee, representative, or other
agent of any such party) may disclose to any and all persons,
without limitation of any kind, the U.S. tax treatment and U.S. tax
structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to such
party relating to such U.S. tax treatment and U.S. tax structure,
other than any information for which nondisclosure is reasonably
necessary in order to comply with applicable securities laws."
(k) Section 9.12(e) of the New Credit Agreement shall be amended and
restated to read in its entirety as follows:
"(e) waives, to the maximum extent not prohibited by law, any right
it may have to claim or recover in any legal action or proceeding
relating to this Agreement or to any other Loan Document, any
special, exemplary, indirect, punitive or consequential damages."
(l) The New Credit Agreement shall be amended by deleting Section 9.17.
(m) SCHEDULE I of the New Credit Agreement shall be in the form of
SCHEDULE I to this TRR Agreement.
(n) SCHEDULE II of the New Credit Agreement shall be in the form of
SCHEDULE II to this TRR Agreement.
3
(o) SCHEDULE IV of the New Credit Agreement shall be in the form of
SCHEDULE IV to this TRR Agreement.
(p) Each of the Administrative Agent, the Lenders and the Borrowers
acknowledge that the following borrowers (the "NEW BORROWERS") were not parties
to the Original Credit Agreement:
▇▇▇▇▇▇▇ Strategic Growth Fund
(a portfolio of ▇▇▇▇▇▇▇ Growth Trust)
Fixed Income Fund
Municipal Bond Fund
Short Duration Fund
Short Term Municipal Bond Fund
High Income Plus Fund
Micro Cap Fund
European Equity Fund
International Select Equity Fund
Emerging Markets Debt Fund
(each a portfolio of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Investment Trust)
Asset Management Portfolio
Cash Management Portfolio
Equity 500 Index Portfolio
International Equity Portfolio
Treasury Money Portfolio
Small Cap Index Fund
EAFE Index Fund
Equity 500 Index Fund
(each a portfolio of Deutsche Asset Management VIT Funds)
Asset Management Portfolio II
Asset Management Portfolio III
EAFE Equity Index Portfolio
Liquid Assets Portfolio
PreservationPlus Income Portfolio
PreservationPlus Portfolio
US Bond Index Portfolio
(each a portfolio of BT Investment Portfolios)
4
Mid Cap Fund
NY Tax Free Money Fund Investment
Small Cap Fund
Tax Free Money Fund Investment
(each a portfolio of BT Investment Funds)
Daily Assets Fund Institutional
Treasury and Agency Fund Institutional
(each a portfolio of BT Institutional Funds)
Flag Investors Communications Fund, Inc.
Flag Investors Value Builder Fund, Inc.
Flag Investors Equity Partners Fund, Inc.
Prime Series
Treasury Series
Tax-free Series
(each a portfolio of Deutsche Bank ▇▇▇▇ ▇▇▇▇▇ Cash Reserves Fund, Inc.)
▇▇▇▇▇▇▇ Global High Income Fund, Inc.
Global Biotechnology Fund
(a portfolio of Deutsche Investors Funds, Inc.)
Top 50 US Portfolio
Japanese Equity Portfolio
(each a portfolio of Deutsche Investors Portfolios Trust)
RREEF Real Estate Securities Fund
(a portfolio of ▇▇▇▇▇▇▇ RREEF Securities Trust)
RREEF Real Estate Fund, Inc.
For the avoidance of doubt, each reference to "Borrower" or "Borrowers" in the
New Credit Agreement shall be deemed to include the New Borrowers, and each of
the New Borrowers agrees to be bound by the terms and conditions of the New
Credit Agreement in all respects as a Borrower thereunder; PROVIDED, HOWEVER,
that no New Borrower shall be liable for any obligation incurred by the
Borrowers or any individual Borrower before the Effective Date (as defined
herein).
SECTION 2. REPRESENTATIONS AND WARRANTIES.
To induce the Administrative Agent and the Lenders to enter into this TRR
Agreement and to make the Loans (as defined in the New Credit Agreement), each
Fund on behalf of itself
5
and each Borrower hereby represents and warrants to the Administrative Agent and
each Lender as follows (it being agreed that each Fund represents and warrants
only to matters with respect to itself and, if applicable, each investment
portfolio thereof that is a Borrower, and each Borrower represents and warrants
only to matters with respect to itself):
(a) This TRR Agreement and the New Credit Agreement have been duly
authorized and, in the case of this TRR Agreement, executed and delivered by it
and constitute its legal, valid and binding obligations enforceable in
accordance with their terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization moratorium or similar laws
affecting the enforcement of creditors' rights generally and by general
equitable principles (whether enforcement is sought by proceedings in equity or
at law).
(b) The representations and warranties set forth in Section 3 of the New
Credit Agreement are true and correct in all material respects on the date
hereof with the same effect as if made on the date hereof, except to the extent
such representations and warranties expressly relate to an earlier date.
(c) Before and after giving effect to this TRR Agreement, no Default has
occurred and is continuing.
SECTION 3. CONDITIONS TO EFFECTIVENESS.
This TRR Agreement and the New Credit Agreement, including the agreement
of each Lender to make Loans thereunder, shall become effective as of the date
hereof (the "EFFECTIVE DATE") upon the occurrence of the following conditions
precedent (which shall be deemed to satisfy Section 4.1 of the New Credit
Agreement):
(a) The Administrative Agent shall have received counterparts of this TRR
Agreement which, when taken together, bear the signatures of all the parties
hereto.
(b) The Administrative Agent shall have received, on behalf of itself and
the Lenders, a favorable written opinion of counsel for the Borrowers referring
to this TRR Agreement and the New Credit Agreement, (i) dated the date hereof,
(ii) addressed to the Administrative Agent and the Lenders, and (iii) covering
such other matters relating to this TRR Agreement and the transactions hereunder
and under the New Credit Agreement as the Administrative Agent or its counsel
shall reasonably request, and the Borrowers hereby instruct their counsel to
deliver such opinion.
(c) All legal matters incident to this TRR Agreement, the New Credit
Agreement and the borrowings and extensions of credit hereunder shall be
satisfactory to the Lenders and to ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & ▇▇▇▇▇ LLP, counsel
for the Administrative Agent.
(d) The Administrative Agent shall have received on the date hereof:
(i) a certificate of the Secretary, Assistant Secretary, Treasurer
or Assistant Treasurer of each Fund dated the date hereof and certifying
that attached thereto are true
6
and correct copies of the following: (A) resolutions duly adopted by the
Board of Trustees or Directors, as the case may be, of each such Fund on
its own behalf or, if applicable, on behalf of each investment portfolio
thereof that is a Borrower, authorizing this TRR Agreement and the
execution, delivery and performance of this TRR Agreement and the
borrowings under the New Credit Agreement, and that such resolutions have
not been modified, rescinded or amended and are in full force and effect;
(B) if not a party to the Original Credit Agreement, each Fund's
Declaration of Trust or Articles of Incorporation, as the case may be, or
if a party to the Original Credit Agreement, any amendments since the
Original Closing Date to such Fund's Declaration of Trust or Articles of
Incorporation, as the case may be; (C) if not a party to the Original
Credit Agreement, each Fund's By-laws, or if a party to the Original
Credit Agreement, any amendments since the Original Closing Date to such
Fund's By-laws; (D) if not a party to the Original Credit Agreement, each
Fund's Investment Management Agreement, or if a party to the Original
Credit Agreement, any amendments since the Original Closing Date to such
Fund's Investment Management Agreement; (E) if not a party to the Original
Credit Agreement, each Fund's Custodian Agreement, or if a party to the
Original Credit Agreement, any amendments since the Original Closing Date
to such Fund's Custodian Agreement; (F) each Fund's most recent
Prospectus; (G) each Fund's most recent Statement of Additional
Information; (H) each Fund's most recent annual financial report; and (I)
each Fund's most recent semi-annual financial report;
(ii) a certificate of the Secretary or Assistant Secretary of each
Fund dated the date hereof and certifying as to the incumbency and
specimen signature of each officer executing this TRR Agreement, the New
Credit Agreement or any other document delivered in connection herewith on
behalf of each such Fund;
(iii) a certificate of another officer as to the incumbency and
specimen signature of the officer executing the certificates pursuant to
(ii) above; and
(iv) such other documents as the Lenders or counsel for the
Administrative Agent may reasonably request.
(e) The Administrative Agent shall have received all fees and other
amounts due and payable on or prior to the date hereof, including, to the extent
invoiced, reimbursement or payment of all out-of pocket expenses required to be
reimbursed or paid by the Borrowers or Funds hereunder.
SECTION 4. APPLICABLE LAW.
THIS TRR AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAW
PRINCIPLES THEREOF.
7
SECTION 5. COUNTERPARTS.
This TRR Agreement may be executed in two or more counterparts, each of
which shall constitute an original but all of which when taken together shall
constitute but one contract.
SECTION 6. EXPENSES.
Each Borrower agrees, severally and neither jointly nor jointly and
severally, to reimburse the Administrative Agent, in accordance with such
Borrower's Pro Rata Allocation (as defined in the New Credit Agreement), for the
Administrative Agent's out-of-pocket expenses in connection with this TRR
Agreement not yet paid pursuant to Section 3(e) hereof, including the reasonable
fees, charges and disbursements of counsel for the Administrative Agent.
* * *
8
IN WITNESS WHEREOF, the parties hereto have caused this TRR Agreement to
be duly executed by their respective authorized officers as of the day and year
first written above.
JPMORGAN CHASE BANK,
as Administrative Agent and as a Lender
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
--------------------
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Vice President, JPMorgan Chase Bank
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
▇▇▇▇▇▇▇ CASH INVESTMENT TRUST;
▇▇▇▇▇▇▇ FUNDS TRUST, on behalf
▇▇▇▇▇▇▇ Short Term Bond Fund;
▇▇▇▇▇▇▇ INCOME TRUST, on behalf of
▇▇▇▇▇▇▇ GNMA Fund;
INVESTMENT TRUST, on behalf of
▇▇▇▇▇▇▇ Growth and Income Fund,
▇▇▇▇▇▇▇ Large Company Growth Fund,
▇▇▇▇▇▇▇ Small Company Stock Fund, and
▇▇▇▇▇▇▇ Capital Growth Fund;
▇▇▇▇▇▇▇ PORTFOLIO TRUST, on behalf of
▇▇▇▇▇▇▇ Income Fund, and
▇▇▇▇▇▇▇ Balanced Fund;
▇▇▇▇▇▇▇ MUTUAL FUNDS INC., on behalf of
▇▇▇▇▇▇▇ Gold and Precious Metals Fund;
▇▇▇▇▇▇▇ U.S. TREASURY MONEY FUND;
▇▇▇▇▇▇▇ SECURITIES TRUST, on behalf of
▇▇▇▇▇▇▇ Development Fund,
▇▇▇▇▇▇▇ Health Care Fund,
▇▇▇▇▇▇▇ Technology Innovation Fund,
▇▇▇▇▇▇▇ Small Company Value Fund, and
▇▇▇▇▇▇▇ 21st Century Growth Fund;
▇▇▇▇▇▇▇ TAX FREE MONEY FUND;
▇▇▇▇▇▇▇ MONEY MARKET TRUST, on behalf of
▇▇▇▇▇▇▇ Money Market Series;
▇▇▇▇▇▇▇ PATHWAY SERIES, on behalf of
Pathway Moderate Portfolio,
Pathway Conservative Portfolio, and
Pathway Growth Portfolio;
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
▇▇▇▇▇▇▇ VARIABLE SERIES I, on behalf of
Balanced Portfolio,
Bond Portfolio,
Capital Growth Portfolio,
Global Discovery Portfolio,
Growth and Income Portfolio,
International Portfolio,
Money Market Portfolio,
21st Century Growth Portfolio, and
Health Sciences Portfolio;
▇▇▇▇▇▇▇ MUNICIPAL TRUST, on behalf of
▇▇▇▇▇▇▇ Managed Municipal Bonds, and
▇▇▇▇▇▇▇ High Yield Tax Free Fund;
GLOBAL/INTERNATIONAL FUND, INC., on behalf of
▇▇▇▇▇▇▇ Emerging Markets Income Fund,
▇▇▇▇▇▇▇ Global Fund,
▇▇▇▇▇▇▇ Global Bond Fund, and
▇▇▇▇▇▇▇ Global Discovery Fund;
▇▇▇▇▇▇▇ STATE TAX FREE TRUST, on behalf of
▇▇▇▇▇▇▇ Massachusetts Tax Free Fund;
▇▇▇▇▇▇▇ TAX FREE TRUST, on behalf of
▇▇▇▇▇▇▇ Medium Term Tax Free Fund;
VALUE EQUITY TRUST, on behalf of
▇▇▇▇▇▇▇ Large Company Value Fund, and
▇▇▇▇▇▇▇ Select 500 Fund;
▇▇▇▇▇▇▇ INTERNATIONAL FUND, INC., on behalf of
▇▇▇▇▇▇▇ Emerging Markets Growth Fund,
▇▇▇▇▇▇▇ Greater Europe Growth Fund,
▇▇▇▇▇▇▇ International Fund,
▇▇▇▇▇▇▇ Latin America Fund, and
▇▇▇▇▇▇▇ Pacific Opportunities Fund;
THE BRAZIL FUND, INC.;
THE KOREA FUND, INC.;
▇▇▇▇▇▇▇ NEW ASIA FUND, INC.;
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
CASH ACCOUNT TRUST, on behalf of
Money Market Portfolio,
Government Securities Portfolio,
and Tax-Exempt Portfolio;
CASH EQUIVALENT FUND, on behalf of
Money Market Portfolio,
Government Securities Portfolio, and
Tax-Exempt Portfolio;
INVESTORS CASH TRUST, on behalf of
Government Securities Portfolio, and
Treasury Portfolio;
INVESTORS MUNICIPAL CASH FUND, on behalf of
Investors Florida Municipal Cash Fund,
Investors New Jersey Municipal Cash Fund,
Investors Michigan Municipal Cash Fund,
Investors Pennsylvania Municipal Cash Fund,
and Tax-Exempt New York Money Market
Portfolio;
▇▇▇▇▇▇▇ AGGRESSIVE GROWTH FUND;
▇▇▇▇▇▇▇ BLUE CHIP FUND;
▇▇▇▇▇▇▇ GROWTH TRUST, on behalf of
▇▇▇▇▇▇▇ Growth Fund, and
▇▇▇▇▇▇▇ Strategic Growth Fund;
▇▇▇▇▇▇▇ HIGH INCOME SERIES, on behalf of
▇▇▇▇▇▇▇ High Income Fund (formerly ▇▇▇▇▇▇▇
High Yield Fund);
▇▇▇▇▇▇▇ PORTFOLIOS, on behalf of
▇▇▇▇▇▇▇ Cash Reserves Fund;
▇▇▇▇▇▇▇ DYNAMIC GROWTH FUND;
▇▇▇▇▇▇▇ STATE TAX-FREE INCOME SERIES, on behalf
of
▇▇▇▇▇▇▇ CA Tax-Free Income Fund,
▇▇▇▇▇▇▇ FL Tax-Free Income Fund, and
▇▇▇▇▇▇▇ NY Tax-Free Income Fund;
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
▇▇▇▇▇▇▇ STRATEGIC INCOME FUND;
▇▇▇▇▇▇▇ TECHNOLOGY FUND;
▇▇▇▇▇▇▇ TOTAL RETURN FUND;
▇▇▇▇▇▇▇ U.S. GOVERNMENT SECURITIES FUND;
▇▇▇▇▇▇▇ FOCUS VALUE PLUS GROWTH FUND;
TAX-EXEMPT CA MONEY MARKET FUND;
▇▇▇▇▇▇▇ MONEY FUNDS, on behalf of
▇▇▇▇▇▇▇ Money Market Fund,
▇▇▇▇▇▇▇ Government Money Fund, and
▇▇▇▇▇▇▇ Tax-Exempt Money Fund;
▇▇▇▇▇▇▇ YIELDWISE FUNDS, on behalf of
▇▇▇▇▇▇▇ YieldWise Money Fund,
▇▇▇▇▇▇▇ YieldWise Government Money Fund, and
▇▇▇▇▇▇▇ YieldWise Municipal Money Fund;
▇▇▇▇▇▇▇ EQUITY TRUST, on behalf of
▇▇▇▇▇▇▇-▇▇▇▇▇▇ Financial Services Fund;
▇▇▇▇▇▇▇ INVESTORS TRUST, on behalf of
▇▇▇▇▇▇▇ S&P 500 Stock Fund;
▇▇▇▇▇▇▇ NEW EUROPE FUND, INC.;
▇▇▇▇▇▇▇ TARGET FUND, on behalf of
▇▇▇▇▇▇▇ Target 2010 Fund,
▇▇▇▇▇▇▇ Target 2011 Fund,
▇▇▇▇▇▇▇ Target 2012 Fund,
▇▇▇▇▇▇▇ Target 2013 Fund (formerly ▇▇▇▇▇▇▇
Retirement Fund - Series IV),
▇▇▇▇▇▇▇ Retirement Fund - Series V,
▇▇▇▇▇▇▇ Retirement Fund - Series VI,
▇▇▇▇▇▇▇ Retirement Fund - Series VII, and
▇▇▇▇▇▇▇ Worldwide 2004 Fund;
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
▇▇▇▇▇▇▇ VALUE SERIES, INC., on behalf of
▇▇▇▇▇▇▇ Contrarian Fund,
▇▇▇▇▇▇▇-▇▇▇▇▇▇ High Return Equity Fund, and
▇▇▇▇▇▇▇-▇▇▇▇▇▇ Small Cap Value Fund;
▇▇▇▇▇▇▇ VARIABLE SERIES II, on behalf of
▇▇▇▇▇▇▇ Aggressive Growth Portfolio,
▇▇▇▇▇▇▇ Blue Chip Portfolio,
▇▇▇▇▇▇▇ Contrarian Value Portfolio,
▇▇▇▇▇▇▇ Global Blue Chip Portfolio,
▇▇▇▇▇▇▇ Government Securities Portfolio,
▇▇▇▇▇▇▇ Growth Portfolio,
▇▇▇▇▇▇▇ High Income Portfolio (formerly
▇▇▇▇▇▇▇ High Yield Portfolio),
▇▇▇▇▇▇▇ International Select Equity
Portfolio (formerly ▇▇▇▇▇▇▇ International
Research Portfolio),
▇▇▇▇▇▇▇ Investment Grade Bond Portfolio,
▇▇▇▇▇▇▇ Money Market Portfolio,
▇▇▇▇▇▇▇ Small Cap Growth Portfolio,
▇▇▇▇▇▇▇ Strategic Income Portfolio,
▇▇▇▇▇▇▇ Technology Growth Portfolio,
▇▇▇▇▇▇▇ Total Return Portfolio,
▇▇▇▇▇▇▇ Focus Value+Growth Portfolio,
SVS Index 500 Portfolio,
SVS Dreman Financial Services Portfolio,
SVS Dreman High Return Equity Portfolio,
SVS Dreman Small Cap Value Portfolio,
SVS Janus Growth Opportunities Portfolio
(formerly SVS Growth Opportunities Portfolio),
SVS MFS Strategic Value Portfolio,
SVS INVESCO Dynamic Growth Portfolio
(formerly SVS Dynamic Growth Portfolio),
SVS ▇▇▇▇▇▇ Mid Cap Growth Portfolio
(formerly SVS Mid Cap Growth Portfolio),
SVS Oak Strategic Equity Portfolio (formerly
SVS Strategic Equity Portfolio),
SVS ▇▇▇▇▇ Venture Value Portfolio (formerly
SVS Venture Value Portfolio),
SVS Eagle Focused Large Cap Growth Portfolio
(formerly SVS Focused Large Cap Growth
Portfolio), and
SVS Janus Growth and Income Portfolio
(formerly SVS Growth and Income Portfolio);
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
▇▇▇▇▇▇▇ INTERMEDIATE GOVERNMENT TRUST;
▇▇▇▇▇▇▇ MUNICIPAL INCOME TRUST;
▇▇▇▇▇▇▇ STRATEGIC MUNICIPAL INCOME TRUST;
▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ INVESTMENT TRUST, on behalf of
Fixed Income Fund,
Municipal Bond Fund,
Short Duration Fund,
Short Term Municipal Bond Fund,
High Income Plus Fund,
Micro Cap Fund,
European Equity Fund,
International Select Equity Fund, and
Emerging Markets Debt Fund;
ASSET MANAGEMENT PORTFOLIO;
CASH MANAGEMENT PORTFOLIO;
EQUITY 500 INDEX PORTFOLIO;
INTERNATIONAL EQUITY PORTFOLIO;
TREASURY MONEY PORTFOLIO;
DEUTSCHE ASSET MANAGEMENT VIT FUNDS, on behalf
of
Small Cap Index Fund,
EAFE Index Fund, and
Equity 500 Index Fund;
BT INVESTMENT PORTFOLIOS, on behalf of itself
of
Asset Management Portfolio II,
Asset Management Portfolio III,
EAFE Equity Index Portfolio,
Liquid Assets Portfolio,
PreservationPlus Income Portfolio,
PreservationPlus Portfolio, and
US Bond Index Portfolio;
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
BT INVESTMENT FUNDS, on behalf of
Mid Cap Fund,
NY Tax Free Money Fund Investment,
Small Cap Fund, and
Tax Free Money Fund Investment;
BT INSTITUTIONAL FUNDS, on behalf of
Daily Assets Fund Institutional, and
Treasury and Agency Fund Institutional;
FLAG INVESTORS COMMUNICATIONS FUND, INC.;
FLAG INVESTORS VALUE BUILDER FUND, INC.;
FLAG INVESTORS EQUITY PARTNERS FUND, INC.;
DEUTSCHE BANK ▇▇▇▇ ▇▇▇▇▇ CASH RESERVES FUND,
INC., on behalf of
Prime Series,
Treasury Series, and
Tax-free Series;
▇▇▇▇▇▇▇ GLOBAL HIGH INCOME FUND, INC.;
DEUTSCHE INVESTORS FUNDS, INC., on behalf of
Global Biotechnology Fund;
DEUTSCHE INVESTORS PORTFOLIOS TRUST, on behalf
of
Top 50 US Portfolio, and
Japanese Equity Portfolio;
▇▇▇▇▇▇▇ RREEF SECURITIES TRUST, on behalf of
▇▇▇▇▇▇▇ RREEF Real Estate Securities Fund;
and
▇▇▇▇▇▇▇ RREEF REAL ESTATE FUND, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
---------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title*: Treasurer
*(The above-signed officer holds this
office with each of the above-referenced funds)
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
STATE STREET BANK AND TRUST CO.
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
DANSKE BANK NEW YORK BRANCH
By: /s/ ▇▇▇▇▇▇ Neofitrois
---------------------------------
Name: ▇▇▇▇▇▇ Neofitrois
Title: Vice President
By: /s/ ▇▇▇▇ ▇. ▇'▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇ ▇. ▇'▇▇▇▇▇
Title: Assistant General Manager
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
BNP PARIBAS
By: /s/ ▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
CREDIT LYONNAIS NEW YORK BRANCH
By: /s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: Senior Vice President
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
FLEET NATIONAL BANK
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Senior Associate
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
HSBC BANK USA
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
Title: First Vice President
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
LLOYDS TSB BANK PLC
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Director
Financial Institutions, USA
G311
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇. ▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇. Tuck
Title: Vice President
Financial Institutions, USA
T020
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
NATIONAL AUSTRALIA BANK LIMITED
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Senior Vice President
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
SOCIETE GENERALE
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Director
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
THE ROYAL BANK OF SCOTLAND PLC
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Title: Senior Vice President
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
BANK OF MONTREAL
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------
Name:
Title:
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
CITIBANK, N.A.
By: /s/ ▇▇▇▇ ▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇ ▇▇▇▇▇
Title: Managing Director
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
UBS AG, STAMFORD BRANCH
By: /s/ ▇▇▇▇▇▇▇ ▇. Saint
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. Saint
Title: Associate Director
Banking Products Services, US
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Associate Director
Banking Products Services, US
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
ABN AMRO BANK N.V.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Group Vice President
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Assistant Vice President
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
MELLON FINANCIAL CORPORATION
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Vice President & Manager
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
NORDDEUTSCHE LANDESBANK GIROZENTRALE,
NEW YORK BRANCH
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Senior Vice President
By: /s/ Jan de Jonge
---------------------------------
Name: Jan de Jonge
Title: Vice President
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
WESTLB AG, NEW YORK BRANCH
By: /s/ ▇▇▇▇▇▇ Chalons-▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇ Chalons-▇▇▇▇▇▇
Title: Senior Executive & Managing
Director
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Director
JPMORGAN CHASE/DEUTSCHE IMA APRIL 2003
TRR SIGNATURE PAGE
▇▇▇▇▇ BROTHERS ▇▇▇▇▇▇▇▇ & CO.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
Title: Partner
SCHEDULE I
DESIGNATED BORROWERS*
& BORROWER ASSET
BORROWER NAME COVERAGE RATIO ALLOCATION
------------- -------------- ----------
▇▇▇▇▇▇▇ CASH INVESTMENT TRUST ........................................ 300% 0.82%
▇▇▇▇▇▇▇ FUNDS TRUST
▇▇▇▇▇▇▇ Short Term Bond Fund ...................................... 300% 0.95%
▇▇▇▇▇▇▇ INCOME TRUST
▇▇▇▇▇▇▇ GNMA Fund ................................................. 300% 3.64%
INVESTMENT TRUST
▇▇▇▇▇▇▇ Growth and Income Fund .................................... 300% 3.61%
▇▇▇▇▇▇▇ Large Company Growth Fund ................................. 300% 0.39%
▇▇▇▇▇▇▇ Small Company Stock Fund .................................. 300% 0.06%
▇▇▇▇▇▇▇ Capital Growth Fund ....................................... 300% 0.89%
▇▇▇▇▇▇▇ PORTFOLIO TRUST
▇▇▇▇▇▇▇ Income Fund ............................................... 300% 0.88%
▇▇▇▇▇▇▇ Balanced Fund ............................................. 300% 0.53%
▇▇▇▇▇▇▇ MUTUAL FUNDS INC
▇▇▇▇▇▇▇ Gold and Precious Metals Fund ............................. D 400% 0.14%
▇▇▇▇▇▇▇ U.S. TREASURY MONEY FUND ..................................... 300% 0.27%
▇▇▇▇▇▇▇ SECURITIES TRUST
▇▇▇▇▇▇▇ Development Fund .......................................... 300% 0.17%
▇▇▇▇▇▇▇ Health Care Fund .......................................... 300% 0.13%
▇▇▇▇▇▇▇ Technology Innovation Fund ................................ 300% 0.13%
▇▇▇▇▇▇▇ Small Company Value Fund .................................. 300% 0.17%
▇▇▇▇▇▇▇ 21st Century Growth Fund .................................. 300% 0.12%
▇▇▇▇▇▇▇ TAX FREE MONEY FUND .......................................... 300% 0.24%
▇▇▇▇▇▇▇ MONEY MARKET TRUST
▇▇▇▇▇▇▇ Money Market Series ....................................... 300% 7.81%
-------------
* Each Designated Borrower is indicated by a "D" followed by the Designated
Borrower Asset Coverage Ratio
I-1
DESIGNATED BORROWERS*
& BORROWER ASSET
BORROWER NAME COVERAGE RATIO ALLOCATION
------------- -------------- ----------
▇▇▇▇▇▇▇ PATHWAY SERIES
Pathway Moderate Portfolio ........................................ 500% 0.15%
Pathway Conservative Portfolio .................................... 500% 0.08%
Pathway Growth Portfolio .......................................... 500% 0.13%
▇▇▇▇▇▇▇ VARIABLE SERIES I
Balanced Portfolio ................................................ 300% 0.10%
Bond Portfolio .................................................... 300% 0.14%
Capital Growth Portfolio .......................................... 300% 0.44%
Global Discovery Portfolio ........................................ 300% 0.10%
Growth and Income Portfolio ....................................... 300% 0.11%
International Portfolio ........................................... 300% 0.32%
Money Market Portfolio ............................................ 300% 0.08%
21st Century Growth Portfolio ..................................... 300% 0.03%
Health Sciences Portfolio ......................................... 300% 0.06%
▇▇▇▇▇▇▇ MUNICIPAL TRUST
▇▇▇▇▇▇▇ Managed Municipal Bonds ................................... 300% 4.05%
▇▇▇▇▇▇▇ High Yield Tax Free Fund .................................. 300% 0.64%
GLOBAL/INTERNATIONAL FUND, INC
▇▇▇▇▇▇▇ Emerging Markets Income Fund .............................. D 400% 0.12%
▇▇▇▇▇▇▇ Global Fund .............................................. 300% 0.61%
▇▇▇▇▇▇▇ Global Bond Fund .......................................... 300% 0.16%
▇▇▇▇▇▇▇ Global Discovery Fund .................................... 300% 0.28%
▇▇▇▇▇▇▇ STATE TAX FREE TRUST
▇▇▇▇▇▇▇ Massachusetts Tax Free Fund ............................... 300% 0.46%
▇▇▇▇▇▇▇ TAX FREE TRUST
▇▇▇▇▇▇▇ Medium Term Tax Free Fund ................................. 300% 0.53%
VALUE EQUITY TRUST
▇▇▇▇▇▇▇ Large Company Value Fund .................................. 300% 1.22%
▇▇▇▇▇▇▇ Select 500 Fund ........................................... 300% 0.04%
I-2
DESIGNATED BORROWERS*
& BORROWER ASSET
BORROWER NAME COVERAGE RATIO ALLOCATION
------------- -------------- ----------
▇▇▇▇▇▇▇ INTERNATIONAL FUND, INC
▇▇▇▇▇▇▇ Emerging Markets Growth Fund .............................. D 400% 0.04%
▇▇▇▇▇▇▇ Greater Europe Growth Fund ................................ 300% 0.29%
▇▇▇▇▇▇▇ International Fund ........................................ 300% 1.37%
▇▇▇▇▇▇▇ Latin America Fund ........................................ D 400% 0.19%
▇▇▇▇▇▇▇ Pacific Opportunities Fund ................................ D 400% 0.06%
THE BRAZIL FUND, INC ................................................. D 2000% 0.17%
THE KOREA FUND, INC .................................................. D 2000% 0.62%
▇▇▇▇▇▇▇ NEW ASIA FUND, INC ........................................... D 2000% 0.07%
CASH ACCOUNT TRUST
Money Market Portfolio ............................................ 300% 2.78%
Government Securities Portfolio ................................... 300% 1.44%
Tax-Exempt Portfolio .............................................. 300% 0.60%
CASH EQUIVALENT FUND
Money Market Portfolio ............................................ 300% 0.60%
Government Securities Portfolio ................................... 300% 0.36%
Tax-Exempt Portfolio .............................................. 300% 0.18%
INVESTORS CASH TRUST
Government Securities Portfolio ................................... 300% 0.39%
Treasury Portfolio ................................................ 300% 0.06%
INVESTORS MUNICIPAL CASH FUND
Investors Florida Municipal Cash Fund ............................. 300% 0.02%
Investors New Jersey Municipal Cash Fund .......................... 300% 0.03%
Investors Michigan Municipal Cash Fund ............................ 300% 0.01%
Investors Pennsylvania Municipal Cash Fund ........................ 300% 0.01%
Tax-Exempt New York Money Market Portfolio ........................ 300% 0.04%
▇▇▇▇▇▇▇ AGGRESSIVE GROWTH FUND ....................................... 300% 0.10%
▇▇▇▇▇▇▇ BLUE CHIP FUND ............................................... 300% 0.40%
I-3
DESIGNATED BORROWERS*
& BORROWER ASSET
BORROWER NAME COVERAGE RATIO ALLOCATION
------------- -------------- ----------
▇▇▇▇▇▇▇ GROWTH TRUST
▇▇▇▇▇▇▇ Growth Fund ............................................... 300% 0.74%
▇▇▇▇▇▇▇ Strategic Growth Fund ..................................... 300% 0.00%
▇▇▇▇▇▇▇ HIGH INCOME SERIES
▇▇▇▇▇▇▇ High Income Fund .......................................... 300% 2.05%
▇▇▇▇▇▇▇ PORTFOLIOS
▇▇▇▇▇▇▇ Cash Reserves Fund ........................................ 300% 0.35%
▇▇▇▇▇▇▇ DYNAMIC GROWTH FUND .......................................... 300% 0.18%
▇▇▇▇▇▇▇ STATE TAX-FREE INCOME SERIES
▇▇▇▇▇▇▇ CA Tax-Free Income Fund ................................... 300% 0.89%
▇▇▇▇▇▇▇ FL Tax-Free Income Fund ................................... 300% 0.06%
▇▇▇▇▇▇▇ NY Tax-Free Income Fund ................................... 300% 0.33%
▇▇▇▇▇▇▇ STRATEGIC INCOME FUND ........................................ 300% 0.34%
▇▇▇▇▇▇▇ TECHNOLOGY FUND .............................................. D 1000% 1.00%
▇▇▇▇▇▇▇ TOTAL RETURN FUND ............................................ 300% 1.62%
▇▇▇▇▇▇▇ U.S. GOVERNMENT SECURITIES FUND .............................. 300% 3.34%
▇▇▇▇▇▇▇ FOCUS VALUE PLUS GROWTH FUND ................................. 300% 0.06%
TAX-EXEMPT CA MONEY MARKET FUND ...................................... 300% 0.06%
▇▇▇▇▇▇▇ MONEY FUNDS
▇▇▇▇▇▇▇ Money Market Fund ......................................... 300% 3.63%
▇▇▇▇▇▇▇ Government Money Fund ..................................... 300% 0.46%
▇▇▇▇▇▇▇ Tax-Exempt Money Fund ..................................... 300% 0.56%
▇▇▇▇▇▇▇ YIELDWISE FUNDS
▇▇▇▇▇▇▇ YieldWise Money Fund ...................................... 300% 0.47%
▇▇▇▇▇▇▇ YieldWise Government Money Fund ........................... 300% 0.16%
▇▇▇▇▇▇▇ YieldWise Municipal Money Fund ............................ 300% 0.27%
I-4
DESIGNATED BORROWERS*
& BORROWER ASSET
BORROWER NAME COVERAGE RATIO ALLOCATION
------------- -------------- ----------
▇▇▇▇▇▇▇ EQUITY TRUST
▇▇▇▇▇▇▇-▇▇▇▇▇▇ Financial Services Fund ............................ 300% 0.10%
▇▇▇▇▇▇▇ INVESTORS TRUST
▇▇▇▇▇▇▇ S&P 500 Stock Fund ........................................ 300% 0.06%
▇▇▇▇▇▇▇ NEW EUROPE FUND, INC ......................................... 300% 0.09%
▇▇▇▇▇▇▇ TARGET FUND
▇▇▇▇▇▇▇ Target 2010 Fund .......................................... 300% 0.06%
▇▇▇▇▇▇▇ Target 2011 Fund .......................................... 300% 0.09%
▇▇▇▇▇▇▇ Target 2012 Fund .......................................... 300% 0.07%
▇▇▇▇▇▇▇ Target 2013 Fund (formerly ▇▇▇▇▇▇▇ Retirement Fund -
Series IV) ...................................................... 300% 0.05%
▇▇▇▇▇▇▇ Retirement Fund - Series V ................................ 300% 0.06%
▇▇▇▇▇▇▇ Retirement Fund - Series VI ............................... 300% 0.04%
▇▇▇▇▇▇▇ Retirement Fund - Series VII .............................. 300% 0.03%
▇▇▇▇▇▇▇ Worldwide 2004 Fund ....................................... 300% 0.01%
▇▇▇▇▇▇▇ VALUE SERIES, INC
▇▇▇▇▇▇▇ Contrarian Fund ........................................... 300% 0.14%
▇▇▇▇▇▇▇-▇▇▇▇▇▇ High Return Equity Fund ............................ 300% 2.89%
▇▇▇▇▇▇▇-▇▇▇▇▇▇ Small Cap Value Fund ............................... 300% 0.32%
I-5
DESIGNATED BORROWERS*
& BORROWER ASSET
BORROWER NAME COVERAGE RATIO ALLOCATION
------------- -------------- ----------
▇▇▇▇▇▇▇ VARIABLE SERIES II
▇▇▇▇▇▇▇ Aggressive Growth Portfolio ............................... 300% 0.04%
▇▇▇▇▇▇▇ Blue Chip Portfolio ....................................... 300% 0.13%
▇▇▇▇▇▇▇ Contrarian Value Portfolio ................................ 300% 0.17%
▇▇▇▇▇▇▇ Global Blue Chip Portfolio ................................ 300% 0.03%
▇▇▇▇▇▇▇ Government Securities Portfolio ........................... 300% 0.47%
▇▇▇▇▇▇▇ Growth Portfolio .......................................... 300% 0.19%
▇▇▇▇▇▇▇ High Income Portfolio ..................................... 300% 0.28%
▇▇▇▇▇▇▇ International Select Equity Portfolio ..................... 300% 0.09%
▇▇▇▇▇▇▇ Investment Grade Bond Portfolio ........................... 300% 0.19%
▇▇▇▇▇▇▇ Money Market Portfolio .................................... 300% 0.46%
▇▇▇▇▇▇▇ Small Cap Growth Portfolio ................................ 300% 0.12%
▇▇▇▇▇▇▇ Strategic Income Portfolio ................................ 300% 0.06%
▇▇▇▇▇▇▇ Technology Growth Portfolio ............................... D 2000% 0.14%
▇▇▇▇▇▇▇ Total Return Portfolio .................................... 300% 0.51%
▇▇▇▇▇▇▇ Focus Value+Growth Portfolio .............................. 300% 0.08%
SVS Index 500 Portfolio ........................................... 300% 0.18%
SVS Dreman Financial Services Portfolio ........................... 300% 0.09%
SVS Dreman High Return Equity Portfolio ........................... 300% 0.40%
SVS Dreman Small Cap Value Portfolio .............................. 300% 0.19%
SVS Janus Growth Opportunities Portfolio .......................... 300% 0.09%
SVS MFS Strategic Value Portfolio ................................. 300% 0.01%
SVS INVESCO Dynamic Growth Portfolio .............................. 300% 0.02%
SVS ▇▇▇▇▇▇ Mid Cap Growth Portfolio ............................... 300% 0.05%
SVS Oak Strategic Equity Portfolio ................................ 300% 0.03%
SVS ▇▇▇▇▇ Venture Value Portfolio ................................. 300% 0.13%
SVS Eagle Focused Large Cap Growth Portfolio ...................... 300% 0.05%
SVS Janus Growth and Income Portfolio ............................. 300% 0.13%
▇▇▇▇▇▇▇ INTERMEDIATE GOVERNMENT TRUST ................................ 300% 0.21%
▇▇▇▇▇▇▇ MUNICIPAL INCOME TRUST ....................................... 300% 0.62%
▇▇▇▇▇▇▇ STRATEGIC MUNICIPAL INCOME TRUST ............................. 300% 0.17%
I-6
DESIGNATED BORROWERS*
& BORROWER ASSET
BORROWER NAME COVERAGE RATIO ALLOCATION
------------- -------------- ----------
▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ INVESTMENT TRUST
Fixed Income Fund ................................................. D 1000% 0.86%
Municipal Bond Fund ............................................... D 1000% 0.38%
Short Duration Fund ............................................... 300% 0.19%
Short Term Municipal Bond Fund .................................... 300% 0.43%
High Income Plus Fund ............................................. 300% 0.34%
Micro Cap Fund .................................................... 300% 0.06%
European Equity Fund .............................................. 300% 0.01%
International Select Equity Fund .................................. 300% 0.45%
Emerging Markets Debt Fund ........................................ D 1000% 0.09%
ASSET MANAGEMENT PORTFOLIO ........................................... 300% 0.51%
CASH MANAGEMENT PORTFOLIO ............................................ D 2000% 8.34%
EQUITY 500 INDEX PORTFOLIO ........................................... 300% 1.91%
INTERNATIONAL EQUITY PORTFOLIO ....................................... 300% 0.44%
TREASURY MONEY PORTFOLIO ............................................. D 2000% 0.63%
DEUTSCHE ASSET MANAGEMENT VIT FUNDS
Small Cap Index Fund .............................................. 300% 0.11%
EAFE Index Fund ................................................... 300% 0.05%
Equity 500 Index Fund ............................................. 300% 0.32%
BT INVESTMENT PORTFOLIOS
Asset Management Portfolio II ..................................... 300% 0.05%
Asset Management Portfolio III .................................... 300% 0.02%
EAFE Equity Index Portfolio ....................................... 300% 0.10%
Liquid Assets Portfolio ........................................... D 2000% 2.15%
PreservationPlus Income Portfolio ................................. 300% 1.50%
PreservationPlus Portfolio ........................................ 300% 0.13%
US Bond Index Portfolio ........................................... 300% 0.10%
BT INVESTMENT FUNDS
Mid Cap Fund ...................................................... 300% 0.25%
NY Tax Free Money Fund Investment ................................. D 2000% 0.10%
Small Cap Fund .................................................... 300% 0.17%
Tax Free Money Fund Investment .................................... D 2000% 0.13%
I-7
DESIGNATED BORROWERS*
& BORROWER ASSET
BORROWER NAME COVERAGE RATIO ALLOCATION
------------- -------------- ----------
BT INSTITUTIONAL FUNDS
Daily Assets Fund Institutional ................................... D 1000% 7.66%
Treasury and Agency Fund Institutional ............................ 300% 0.26%
FLAG INVESTORS COMMUNICATIONS FUND, INC .............................. D 1000% 0.30%
FLAG INVESTORS VALUE BUILDER FUND, INC ............................... D 1000% 0.45%
FLAG INVESTORS EQUITY PARTNERS FUND, INC ............................. D 1000% 0.19%
DEUTSCHE BANK ▇▇▇▇ ▇▇▇▇▇ CASH RESERVES FUND, INC .....................
Prime Series ...................................................... D 1000% 2.97%
Treasury Series ................................................... D 1000% 0.46%
Tax-free Series ................................................... D 1000% 0.83%
▇▇▇▇▇▇▇ GLOBAL HIGH INCOME FUND, INC ................................. 300% 0.06%
DEUTSCHE INVESTORS FUNDS, INC ........................................
Global Biotechnology Fund ........................................ 300% 0.01%
DEUTSCHE INVESTORS PORTFOLIOS TRUST
Top 50 US Portfolio ............................................... 300% 0.02%
Japanese Equity Portfolio ......................................... 300% 0.03%
▇▇▇▇▇▇▇ RREEF SECURITIES TRUST
RREEF Real Estate Securities Fund ................................ 300% 0.21%
▇▇▇▇▇▇▇ RREEF REAL ESTATE FUND, INC .................................. 300% 0.19%
I-8
SCHEDULE II
COMMITMENTS, ADDRESSES, ETC.
AMOUNT OF AMOUNT OF SWING
NAME AND ADDRESS OF LENDER COMMITMENT LINE COMMITMENT
-------------------------- ---------- ---------------
JPMORGAN CHASE BANK $100,000,000 $ 0
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇▇▇.▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇
STATE STREET BANK AND TRUST CO. $125,000,000 $125,000,000
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇ ▇. ▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇
DANSKE BANK NEW YORK BRANCH $ 90,000,000 $ 0
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇@▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇
BNP PARIBAS $ 70,000,000 $ 0
▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇ ▇. ▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇.▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇
CREDIT LYONNAIS NEW YORK BRANCH $ 70,000,000 $ 0
▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Attn: ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇
II-1
AMOUNT OF AMOUNT OF SWING
NAME AND ADDRESS OF LENDER COMMITMENT LINE COMMITMENT
-------------------------- ---------- ---------------
FLEET NATIONAL BANK $ 70,000,000 $ 0
▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇
HSBC BANK USA $ 70,000,000 $ 0
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇.▇.▇▇▇▇▇▇▇▇▇@▇▇.▇▇▇▇.▇▇▇
LLOYDS TSB BANK PLC $ 70,000,000 $ 0
▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇-▇▇▇.▇▇▇
NATIONAL AUSTRALIA BANK LIMITED $70,000,000 $ 0
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇
SOCIETE GENERALE $ 70,000,000 $ 0
▇▇▇▇ ▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇ ▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇.▇▇▇▇▇@▇▇.▇▇▇▇▇▇.▇▇▇
II-2
AMOUNT OF AMOUNT OF SWING
NAME AND ADDRESS OF LENDER COMMITMENT LINE COMMITMENT
-------------------------- ---------- ---------------
THE ROYAL BANK OF SCOTLAND PLC $ 70,000,000 $ 0
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇
BANK OF MONTREAL $ 50,000,000 $ 0
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇.▇▇▇▇▇▇@▇▇▇.▇▇▇
CITIBANK, N.A. $ 50,000,000 $ 0
▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇ ▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇.▇▇▇▇▇@▇▇▇▇▇▇▇▇▇.▇▇▇
UBS AG, STAMFORD BRANCH $ 50,000,000 $ 0
▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇▇ ▇. Saint
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇▇.▇▇▇▇▇@▇▇▇▇.▇▇▇
ABN AMRO BANK N.V. $ 50,000,000 $ 0
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇ ▇▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇
II-3
AMOUNT OF AMOUNT OF SWING
NAME AND ADDRESS OF LENDER COMMITMENT LINE COMMITMENT
-------------------------- ---------- ---------------
MELLON FINANCIAL CORPORATION $ 50,000,000 $ 0
One Mellon Center
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Attn: ▇▇▇▇ ▇. ▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇.▇▇@▇▇▇▇▇▇.▇▇▇
NORDDEUTSCHE LANDESBANK GIROZENTRALE,
NEW YORK BRANCH $ 50,000,000 $ 0
▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇.▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇
WESTLB AG, NEW YORK BRANCH $ 50,000,000 $ 0
▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇▇ ▇. Law
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇▇_▇▇▇@▇▇▇▇▇▇.▇▇▇
▇▇▇▇▇ BROTHERS ▇▇▇▇▇▇▇▇ & CO. $ 25,000,000 $ 0
▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Attn: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Tel: ▇▇▇-▇▇▇-▇▇▇▇
Fax: ▇▇▇-▇▇▇-▇▇▇▇
Email: ▇▇▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇.▇▇▇
II-4
SCHEDULE IV
CUSTODY AGREEMENTS