9(b) MORGAN GUARANTY Letterhead February 9, 1996 Lord Abbett Global, Inc. 767 Fifth Avenue New York, N.Y. 10153 Attention: Mr. Kenneth B. Cutler Vice President Dear Sirs: Pursuant to Section 15 of the Global Custody Agreement, dated October 20, 1993,...

                                                                            9(b)


                                 ▇▇▇▇▇▇ GUARANTY
                                   Letterhead




February 9, 1996


▇▇▇▇ ▇▇▇▇▇▇ Global, Inc.
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇.▇. 10153

Attention:  ▇▇. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
                  Vice President


Dear Sirs:

     Pursuant to Section 15 of the Global Custody  Agreement,  dated October 20,
1993, between ▇▇▇▇ ▇▇▇▇▇▇ Global Fund (hereinafter called the "Corporation") and
▇▇▇▇▇▇ GuarantyTrust  Company of New York (hereinafter called "▇▇▇▇▇▇"),  ▇▇▇▇▇▇
hereby  assigns  to  The  Bank  of  New  York  (hereinafter   called  "successor
custodian"),  as of January 1, 1996, all its rights and  obligations  under such
Agreement,  and successor  custodian  hereby agrees with you to be bound by such
Agreement in accordance with its terms.

Sincerely,


____________________                        Consented to:
Vice President                              ▇▇▇▇ ▇▇▇▇▇▇ GLOBAL FUND, INC.
Mutual Funds Division


Agreed and Confirmed                        By:___________________________
THE BANK OF NEW YORK                      Vice President


By:________________________
      Vice President