July 2, 2001
Board of Trustees
The Xxxxxx Xxxxxxxxx Trust
Five Tower Bridge
000 Xxxx Xxxxxx Xxxxx
Xxxxx 000
Xxxx Xxxxxxxxxxxx, XX 00000-2970
Re: Delegation of Responsibilities as a Foreign Custody Manager under Rule
17f-5 and Assumption by Delegate of Certain Responsibilities under Rule
17f-7
Dear Sirs:
The Xxxxxx Xxxxxxxxx Trust (the "Fund") and Bankers Trust Company, a New
York banking corporation (the "Delegate"), have previously entered into a
Custodian Agreement dated July 20, 1995 (the "Custodian Agreement"), pursuant to
which the Delegate provides custody and related services to the Fund, including
the use of foreign subcustodians and depositories, subject to the terms and
conditions set forth therein. The Securities and Exchange Commission recently
amended Rule 17f-5 and adopted Rule 17f-7, each under the Investment Company Act
of 1940 (the "1940 Act"), concerning arrangements for foreign subcustodians and
depositories, respectively. Pursuant to the provisions of Rule 17f-5(b), and
subject to the terms and conditions set forth herein, you (the "Board") on
behalf of the Fund hereby delegate and the Delegate hereby agrees to accept and
assume certain responsibilities described herein concerning custody of (1) the
Fund's investments for which the primary market is outside of the United States
and (2) such cash and cash equivalents as are reasonably necessary to effect the
Fund's transactions in such investments (such investments and cash shall
hereinafter be referred to collectively as "Assets"). In addition, pursuant to
the provisions of Rule 17f-7(a)(1), the Delegate assumes, subject to the terms
and conditions set forth herein, certain analysis and monitoring functions
related to foreign depositories.
All references hereunder to the 1940 Act and to the rules and regulations
thereunder shall be deemed to be a reference to such Act and its rules and
regulations as they may be amended from time to time.
1. Representations of the Parties
The Delegate represents and warrants that it is a US Bank within the
meaning of Rule 17f-5(a)(7) under the 1940 Act and has the power and authority
to execute, deliver and perform this Agreement.
The Fund represents and warrants that the Board has determined that it is
reasonable to rely on the Delegate to perform the responsibilities delegated by
this Agreement and has duly authorized the execution and delivery of this
Agreement on behalf of the Fund.
2. Jurisdictions Covered
The authority delegated by this Agreement subject to the provisions of the
last paragraph of this Section 2 applies with respect to Assets held in the
jurisdictions covered by the Delegate's subcustodial network and approved by the
Fund or authorized for investment by the Fund's officers or investment adviser.
A listing of the Delegate's subcustodial network as of the date hereof is
attached hereto as Annex A. Jurisdictions in the Delegate's network may be added
and the subcustodial network may be modified from time to time by notice ("flash
notice") from the Delegate to the Fund. Xxxxx notices may be sent by the
Delegate to the Fund by e-mail, over the internet or by other similar electronic
means to the Fund's address set forth in Section 11 or otherwise furnished by
the Fund to the Delegate. The Delegate's responsibility and authority with
respect to jurisdictions so added shall commence, subject to the provisions of
the last paragraph of this Section 2, on the date of, or set forth in, the flash
notice.
Each of the Fund and the Delegate may withdraw its delegation or its
acceptance of such delegation with respect to any jurisdiction upon written
notice to the Delegate or the Fund, as the case may be. Such withdrawal shall be
effective thirty (30) days after receipt of such notice by the party to which
notice has been sent and thereafter the Delegate shall have no further
responsibility or authority under this Agreement with respect to the
jurisdiction or jurisdictions as to which authority or acceptance of delegation
is so withdrawn.
3. Delegation of Authority to Act as Foreign Custody Manager
(a) Subject to the provisions of this Agreement and the requirements of
applicable law, including Rule 17f-5 under the 1940 Act, the Delegate is
authorized to place and maintain Assets in the care of any Eligible Foreign
Custodian or Custodians within the meaning of Rule 17f-5(a)(1) of the 1940 Act
in each jurisdiction to which this Agreement applies and to enter into on behalf
of the Fund such written contract or contracts governing the Fund's foreign
custody arrangements with such Eligible Foreign Custodian or Custodians as the
Delegate deems appropriate.
(b) In addition, subject to the requirements of the 1940 Act, including
Section 17(f) thereof, and any other applicable law or regulation, the Delegate
is authorized to place and maintain Assets in the care of any person (a
"Permissible Foreign Custodian") with which Assets may be placed and maintained
outside of the United States under the 1940 Act other than
2
pursuant to Rule 17f-5 thereunder or under an order of the Securities and
Exchange Commission and to enter into on behalf of the Fund such written
contract governing the Fund's foreign custody arrangements with such Permissible
Foreign Custodian as the Delegate deems appropriate.
(c) The authority granted in (a) and (b) of this paragraph 3 shall
include, subject to the same limitations set forth therein, the authority to
withdraw Assets from an Eligible Foreign Custodian or Permissible Foreign
Custodian in any jurisdiction in which this Agreement applies and place and
maintain the Assets so withdrawn in the care of another Eligible Foreign
Custodian or Permissible Foreign Custodian in the same jurisdiction and to enter
into appropriate written contracts governing the Fund's foreign custody
arrangements with such Eligible Foreign Custodian or Permissible Foreign
Custodian.
4. Monitoring of Eligible Foreign Custodians and Contracts
In each case in which the Delegate has exercised the authority delegated
under this Agreement under Section 3(a) to place Assets with an Eligible Foreign
Custodian, the Delegate is authorized to, and shall on behalf of the Fund,
establish a system reasonably designed to monitor the appropriateness of
maintaining the Fund's Assets with such Eligible Foreign Custodian and the
contract with such Eligible Foreign Custodian. If an arrangement with an
Eligible Foreign Custodian no longer meets the requirements of Rule 17f-5(c),
the Delegate will withdraw the Assets from such entity as soon as reasonably
practicable and deposit such Assets with another Eligible Foreign Custodian in
the same jurisdiction, if available, under arrangements which satisfy the
requirements of Rule 17f-5(c).
5. Guidelines and Procedures for the Exercise of Delegated Authority
(a) In exercising its delegated authority under this Agreement, the
Delegate may assume, for all purposes, that the Board (or the Fund's investment
adviser pursuant to authority delegated by the Board) has considered and,
pursuant to its fiduciary duties to the Fund and its shareholders, determined to
accept such country risk as is incurred by placing and maintaining Assets in the
jurisdictions to which this Agreement applies. The Delegate will accept
instructions from such party or parties as may be authorized pursuant to the
provisions of the Custodian Agreement to settle transactions with respect to and
hold such Assets in the jurisdictions set forth in such instructions in reliance
on the foregoing assumption. In exercising its delegated authority under this
Agreement, the Delegate may also assume that the Board (or the Fund's investment
adviser pursuant to authority delegated by the Board) has, and will continue to
monitor such country risk to the extent that the Board deems necessary or
appropriate. Nothing in this Agreement shall require the Delegate to make any
selection or to engage in any monitoring on behalf of the Fund that would entail
the consideration of country risk, except as expressly hereinafter provided in
Section 6 with respect to securities depositories. For purposes of this Section
5(a), country risk means all factors reasonably related to the systemic risk of
holding assets in a particular country, including, without limitation, such
country's financial infrastructure (including any securities depositories
operating in such country); prevailing custody and settlement practices; and
laws and regulations applicable to the safekeeping and recovery of assets held
in custody.
3
(b) In exercising the authority delegated under this Agreement to place
Assets with an Eligible Foreign Custodian, the Delegate shall determine that
Assets will be held by such Eligible Foreign Custodian subject to reasonable
care based on the standards applicable to custodians in the market in which the
Assets will be held after considering all factors relevant to the safekeeping of
such Assets, including, without limitation, those set forth in Rule 17f-5(c)(1)
of the 1940 Act.
(c) In exercising the authority delegated under this Agreement to enter
into written contracts governing the Fund's foreign custody arrangements with an
Eligible Foreign Custodian, the Delegate shall determine that such contracts
(or, in the case of a securities depository other than a compulsory securities
depository, such contract, the rules or established practices and procedures of
such depository, or any combination of the foregoing) provide reasonable care
for Assets based on the standards applicable to Eligible Foreign Custodians in
the relevant market. In making this determination, the Delegate shall consider
the provisions of Rule 17f-5(c)(2) of the 1940 Act.
6. Securities Depositories
(a) The Delegate shall, for evaluation by the Fund or its adviser, provide
an analysis of the custody risks associated with maintaining the Fund's Assets
with each Eligible Securities Depository (as defined in Rule 17f-7, which term
shall for the purposes of this Section 6 include any other securities depository
for which the SEC by exemptive order has permitted registered investment
companies to maintain their assets) utilized directly or indirectly by the
Delegate as of the date hereof (or, in the case of an Eligible Securities
Depository not so utilized as of the date hereof, prior to the initial placement
of the Fund's Assets at such Depository) and at which any Assets of the Fund are
held or are expected to be held. The Delegate shall monitor the custody risks
associated with maintaining the Fund's Assets at each such Eligible Securities
Depository on a continuing basis and shall promptly notify the Fund or its
adviser of any material changes in such risks.
(b) Based on the information available to it in the exercise of diligence,
the Delegate shall determine the eligibility under Rule 17f-7 of each securities
depository before maintaining the Fund's Assets therewith and shall promptly
advise the Fund if any Eligible Securities Depository ceases to be so eligible.
A list of Eligible Securities Depositories used by the Delegate directly or
indirectly as of the date hereof is listed in Annex A attached hereto. From time
to time, Eligible Securities Depositories may, subject to Rule 17f-7(a)(11)(A),
be added to the list by flash notice or other means of communication.
(c) The Delegate need not commence performing any of the duties set forth
in this Section 6 prior to July 2, 2001, but the Delegate shall advise the Fund
if it is prepared to commence such duties prior to such date as to particular
depositories.
4
7. Standard of Care
In exercising the authority delegated under this Agreement and in
fulfilling its responsibilities under Section 6(a), the Delegate will exercise
reasonable care, prudence and diligence such as a person having responsibility
for the safekeeping of Assets would exercise but subject to the provisions of
this Agreement, including, without limitation, paragraph 5(a) above.
8. Notification of Custodial Placement
The Delegate agrees to provide written reports notifying the Board of the
placement of Assets with a particular Eligible Foreign Custodian or Permissible
Foreign Custodian and of any material change in the Fund's foreign custody
arrangements. Such reports shall be provided to the Board at such times as the
Fund and the Delegate may agree in writing.
9. Fees and Expenses
The Delegate shall charge fees and be reimbursed for expenses for
performing its functions under this Agreement as may be agreed between the
parties hereto.
10. Effectiveness and Termination
This Agreement shall become effective as of the date set forth above upon
the execution and delivery of this Agreement or a counterpart thereof by each
party thereto to the other party. This Agreement may be terminated at any time,
without penalty, by either party hereto, by written notice from the terminating
party to the non-terminating party. Such termination shall become effective 30
days after receipt by the non-terminating party of such notice. This Agreement
shall also terminate upon the effectiveness of termination of the employment of
the Delegate as custodian of Assets.
11. Notices
Except as otherwise provided in Sections 2 and 6, all communications and
notices between the parties hereto in connection herewith (a) shall be in
writing, hand delivered or sent by telex, telegram, cable, facsimile, internet
or other means of electronic communication agreed upon by the parties hereto
addressed as follows:
If to the Fund, to:
The Xxxxxx Xxxxxxxxx Trust
c/o Xxxxxx Xxxxxxxxx & Co., Inc.
Five Tower Bridge
000 Xxxx Xxxxxx Xxxxx, Xxxxx 000
Xxxx Xxxxxxxxxx, XX 00000-2970
5
With a copy to:
Xxxxx Xxxx Xxxxxxx, Esq.
0000 Xxxxx Xxxx
Xxxxxxxxxxxx, XX 00000
If to the Delegate, to:
or in either case to such other address as shall have been furnished to the
receiving party pursuant to the provisions hereof and (b) shall be deemed
effective when received, or, in the case of a telex, when sent to the proper
number and acknowledged by a proper answerback.
12. Governing Law and Successors and Assigns
This Agreement shall be construed in accordance with the laws of the State
of New York and shall not be assignable by either party but shall bind the
successors in interest of the Board and the Delegate. Any suit, action or
proceeding arising out of this Agreement may be instituted in any State or
Federal court sitting in the City of New York, State of New York, United States
of America, and the Fund irrevocably submits to the exclusive jurisdiction of
any such court in any such suit, action or proceeding and waives, to the fullest
extent permitted by law, any objection which it may now or hereafter have to the
laying of venue of any such suit, action or proceeding brought in such a court
and any claim that such suit, action or proceeding was brought in an
inconvenient forum. Each party hereto irrevocably consents to the service of
process out of any of the aforementioned courts in any such action or proceeding
by the mailing of copies thereof by certified air mail, postage prepaid, to the
other party at its address set forth in Section 10 above or in any other manner
permitted by law.
13. Counterparts
This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original.
14. Miscellaneous.
(a) If any provision of this Agreement is held or made invalid by a court
or regulatory agency decision, statute, rule or otherwise, the remainder of the
Agreement will continue to be valid and enforceable.
(b) If any provisions of this Agreement shall be deemed to contradict any
provisions of the Custodian Agreement, the provisions of this Agreement shall
govern with respect to the rights and obligations covered hereby.
6
(c) The captions in this Agreement are included for convenience only and
in no way define or limit any of the provisions of the Agreement or otherwise
affect their meaning or interpretation.
If the foregoing correctly sets forth our understanding, please execute in
the space provided below and return to the undersigned the enclosed copy of this
Agreement.
Very truly yours,
BANKERS TRUST COMPANY
By:
------------------------------------
AGREED AS SET FORTH ABOVE
THE XXXXXX XXXXXXXXX TRUST
By:
------------------------------------
7
ANNEX A
-------
SUBCUSTODIAL NETWORK
--------------------
--------------------------------------------------------------------------------------------------
JURISDICTION NAME OF SUBCUSTODIAN NAME OF DEPOSITORY
============ ==================== ==================
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Argentina Citibank, N.A., Argentina Caja de Valores, S.A.
--------------------------------------------------------------------------------------------------
Deutsche Bank S.A., Argentina Caja de Valores, S.A.
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Australia National Australia Bank Limited, (1) Austraclear Limited
Melbourne (2) The Clearing House Electronic
Sub-Register System
(3) The Reserve Bank Information
and Transfer System
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Austria Bank Austria, Vienna Wertpapiersarmmelbank bei der
Oesterreichische Kontrollbank AG
--------------------------------------------------------------------------------------------------
Deutsche Bank AG, Vienna Wertpapiersarmmelbank bei der
Oesterreichische Kontrollbank AG
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Bangladesh Standard Chartered Bank, Dhaka None
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Belgium Fortis Bank, Brussels (1) Caisse Interprofessionnelle de
Depots et de Virements de Titres
S.A.
(2) Banque Nationale de Belgique
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Botswana Barclays Bank of Botswana None
Limited, Gaborone
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Brazil Citibank, N.A., Sao Paolo (1) Companhia Brasileira de
Liquidacao e Custodia
(2) Sistema Especial de Liquidacao
e Custodia
--------------------------------------------------------------------------------------------------
Deutsche Bank S.A. - Banco (1) Companhia Brasileira de
Alemao, Xxx Xxxxx Xxxxxxxxxx e Custodia
(2) Sistema Especial de Liquidacao
e Custodia
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Canada The Royal Bank of Canada, The Canadian Depository for
Toronto Securities Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Chile Citibank, N.A., Santiago Deposito Central de Valores S.A.
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
People's Republic of Deutsche Bank AG, Hong Kong The Shanghai Securities Central
China-Shanghai Clearing and Registration
Corporation
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
People's Republic of Deutsche Bank AG, Hong Kong The Shenzhen Securities Central
China-Shenzhen Clearing Co., Ltd.
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Colombia Cititrust Colombia, S.A., Bogota (1) Deposito Central de Valores
(2) Deposito Centralizado de
Valores
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Czech Republic Ceskoslovenska Obchodni Banka, (1) Stredisko Cennych Papiru
A.S., Prague (2) The Czech National Bank
--------------------------------------------------------------------------------------------------
Deutsche Bank AG, Prague (1) Stredisko Cennych Papiru
(2) The Czech National Bank
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Denmark Den Danske Bank, Copenhagen Vaerdipapircentralen - The Danish
Securities Center
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Ecuador Citibank, N.A., Quito None
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Egypt Citibank, N.A., Cairo The Misr Company for Clearing,
Settlement and Central Depository
--------------------------------------------------------------------------------------------------
The National Bank of Egypt, Cairo The Misr Company for Clearing,
Settlement and Central Depository
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Finland Xxxxxx Bank Plc, Helsinki The Finnish Central Securities
Depository Ltd.
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
France BNP Paribas, Paris Societe Interprofessionnelle pour la
Compensation des Valeurs
Mobilieres
--------------------------------------------------------------------------------------------------
Deutsche Bank AG, Paris Societe Interprofessionnelle pour la
Compensation des Valeurs
Mobilieres
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Germany Deutsche Bank AG, Frankfurt Clearstream Banking AG
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Ghana Barclays Bank of Ghana Limited, None
Accra
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------------------------
Greece The National Bank of Greece S.A., The Central Securities Depository
Athens (C.S.D.)
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Hong Kong Deutsche Bank AG, Hong Kong (1) Central Clearing and Settlement
System
(2) The Central Money Markets
Unit
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Hungary Bank Austria Creditanstalt KELER - The Central Depository
and Clearing House (Budapest) Ltd.
--------------------------------------------------------------------------------------------------
Citibank, Budapest Rt., Budapest KELER - The Central Depository
and Clearing House (Budapest) Ltd.
--------------------------------------------------------------------------------------------------
Deutsche Bank Rt., Budapest KELER - The Central Depository
and Clearing House (Budapest) Ltd.
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
India Deutsche Bank AG, Mumbai The National Securities Depository
Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Indonesia Deutsche Bank AG, Jakarta (1) Bank Indonesia
(2) PT Kustodian Sentral Efek
Indonesia/PT KSEI
--------------------------------------------------------------------------------------------------
Standard Chartered Bank, Jakarta (1) Bank Indonesia
(2) PT Kustodian Sentral Efek
Indonesia/PT KSEI
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Ireland Allied Irish Bank, PLC, Dublin (1) The Central Bank of Ireland
Securities Settlements Office
(2) CRESTCo Limited
--------------------------------------------------------------------------------------------------
Bank of Ireland, Dublin (1) The Central Bank of Ireland
Securities Settlements Office
(2) CRESTCo Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Israel Bank Leumi Le-Israel B.M., Tel The Clearing House of The Tel Aviv
Aviv Stock Exchange
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Italy Banca Commerciale Italiana, Milan (1) Monte Titoli, S.p.A.
(2) Banca d'Italia
--------------------------------------------------------------------------------------------------
BNP Paribas Italian Branch (1) Xxxxx Xxxxxx, S.p.A.
(2) Banca d'Italia
--------------------------------------------------------------------------------------------------
Citibank, N.A., Milan (1) Xxxxx Xxxxxx, S.p.A.
(2) Banca d'Italia
--------------------------------------------------------------------------------------------------
Deutsche Bank Societa per Azioni, (1) Monte Titoli, S.p.A.
Milan (2) Banca d'Italia
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
3
--------------------------------------------------------------------------------------------------
Japan The Bank of Tokyo Mitsubishi, (1) The Japan Securities Depository
Ltd., (BTM) Center
(2) The Bank of Japan
--------------------------------------------------------------------------------------------------
Dai Ichi Kangyo Bank Ltd., Tokyo (1) The Japan Securities Depository
Center
(2) The Bank of Japan
--------------------------------------------------------------------------------------------------
The Sumitomo Bank, Ltd., Tokyo (1) The Japan Securities Depository
Center
(2) The Bank of Japan
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Jordan Arab Bank, PLC, Amman None
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Kenya Barclays Bank of Kenya Limited, The Central Bank of Kenya
Nairobi
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Luxembourg Banque Generale du Luxembourg, None
Luxembourg
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Malaysia Deutsche Bank (Malaysia) Berhad, (1) Malaysian Central Depository
Kuala Lumpur Sdn. Bhd.
(2) Bank Negara Malaysia
--------------------------------------------------------------------------------------------------
United Overseas Bank (Malaysia) (1) Malaysian Central Depository
Bhd, Kuala Lumpur Sdn. Bhd.
(2) Bank Negara Malaysia
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Malta Bank of Valletta PLC Malta Stock Exchange - Central
Securities Depository (C.S.D.)
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Mauritius The Hongkong and Shanghai Central Depository and Settlement
Banking Corporation Limited, Port Co. Ltd.
Louis
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Mexico Banco Nacional de Mexico (1) S.D. Indeval, S.A., de C.V.
(Banamex), Santa Fe (2) Banco de Mexico
--------------------------------------------------------------------------------------------------
Bancomer, S.A., Institucion de (1) S.D. Indeval, S.A., de C.V.
Banca Multiple, Grupo Financiero, (2) Banco de Mexico
Mexico City
--------------------------------------------------------------------------------------------------
Citibank Mexico, S.A., Mexico City (1) S.D. Indeval, S.A., de C.V.
(2) Banco de Mexico
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Morocco Banque Marocaine du Commerce MAROCLEAR
Exterieur, Casablanca
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
4
--------------------------------------------------------------------------------------------------
Netherlands Deutsche Bank AG, Amsterdam Nederlands Centraal Instituut voor
Giraal Effectenverkeer B.V.
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
New Zealand National Bank of Australia Limited New Zealand Central Securities
Depository Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Norway Den Norske Bank ASA, Oslo Verdipapirsentralen - The
Norwegian Central Securities
Depository (VPS)
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Pakistan Deutsche Bank AG, Karachi The Central Depository Company of
Pakistan Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Peru Citibank, N.A., Lima Caja de Valores y Liquidaciones,
S.A.
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Philippines Deutsche Bank AG, Manila (1) The Philippines Central
Depository Inc.
(2) The Registry of Scripless
Securities
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Poland Citibank Poland, S.A., Warsaw (1) The National Depository of
Securities
(2) The National Bank of Poland
--------------------------------------------------------------------------------------------------
Deutsche Bank Polska S.A., (1) The National Depository of
Warsaw Securities
(2) The National Bank of Poland
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Portugal Banco Comercial Portugues, S.A., Central de Valores Mobiliarios
Lisbon
--------------------------------------------------------------------------------------------------
Banco Espirito Santo S.A. Central de Valores Mobiliarios
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Russia ZAO Bank "Credit Suisse First Vneshtorgbank
Boston AO", Moscow
--------------------------------------------------------------------------------------------------
Deutsche Bank Ltd., Moscow None
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Singapore Deutsche Bank AG, Singapore The Central Depository (Pte)
Limited
--------------------------------------------------------------------------------------------------
United Overseas Bank Ltd., The Central Depository (Pte)
Singapore Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
5
--------------------------------------------------------------------------------------------------
Slovak Republic Bank Austria AG Vienna (1) Stredisko Cennych Papierov
(2) The National Bank of Slovakia
--------------------------------------------------------------------------------------------------
Ceskoslovenska Obchodni Banka, (1) Stredisko Cennych Papierov
A.S., Bratislava (2) The National Bank of Slovakia
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
South Africa ABSA Bank Limited, Johannesburg The Central Depository (Pty) Ltd.
--------------------------------------------------------------------------------------------------
Standard Corporate and Merchant The Central Depository (Pty) Ltd.
Bank. A division of The Standard
Bank of South Africa
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
South Korea Deutsche Bank AG, Seoul The Korean Securities Depository
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Spain Deutsche Bank Sociedad Anonima (1) Servico de Compensacion y
Espanola, Barcelona Liquidacion de Valores, S.A.
(2) Banco de Espana
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Sri Lanka Deutsche Bank AG, Colombo The Central Depository System
(Pvt) Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Sweden Svenska Handelsbanken, Stockholm Vardepapperscentralen (PC)
Swedish Central Securities
Depository and Clearing
Organization
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Switzerland Credit Suisse First Boston, Zurich SIS SEGAINTERSETTLE AG
--------------------------------------------------------------------------------------------------
UBS AG, Zurich SIS SEGAINTERSETTLE AG
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Taiwan Deutsche Bank AG, Taipei The Taiwan Securities Central
Depository Company, Ltd.
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Thailand Deutsche Bank AG, Bangkok The Thailand Securities Depository
Company Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Tunisia Banque Internationale Arabe de STICODEVAM
Tunisie, Tunis
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Turkey Ottoman Bank (1) Takasbank - ISE Settlement and
Custody Bank Inc.
(2) The Central Bank of Turkey
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
United Kingdom Deutsche Bank AG, London (1) The Central Moneymarkets
Office
(2) CRESTCo Limited
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
6
--------------------------------------------------------------------------------------------------
Venezuela Citibank, N.A., Caracas (1) The Caja Venezolana de
Valores S.A.C.A.
(2) Banco Central de Venezuela
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Zambia Barclays Bank of Zambia Limited, (1) The XxXX Central Share
Lusaka Depository Limited
(2) The Bank of Zambia
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Zimbabwe Barclays Bank of Zimbabwe None
Limited, Harare
--------------------------------------------------------------------------------------------------
7
