Amendment
Plan and Agreement of Distribution
(Class A, B and C)
April 14, 2005
The Plan and Agreement of Distribution between the Registrant(s) on behalf of
its Fund(s) and American Express Financial Advisors, Inc. (AEFA), the principle
underwriter of the Fund, is amended as follows. All other provisions of the
agreement remain in full force and effect.
1. This plan and the portion of it constituting the agreement are separate
and have the respective separate termination provisions set forth in
Rule 12b-1 (iii) and (iv).
2. Paragraph four (4) is deleted in its entirety and replaced with, "The
fee under this agreement will be equal as shown in Schedule A."
3. The last sentence of paragraph eleven (11) is deleted and replaced with,
"The Plan shall continue until terminated by action of the members of
the Fund's board who are not interested persons of the Fund and have no
direct or indirect financial interest in the operations of the Plan, and
the related Agreement will terminate automatically in the event of its
assignment as that term is defined in the Investment Company Act."
4. In Schedule A, the last paragraph is deleted in its entirety and
replaced with, "For Class B and Class C shares, the fee under this
agreement will be equal on an annual basis to 1.00% of the average daily
net assets of the Funds attributable to Class B shares and Class C
shares, respectively. Of that amount, 0.75% shall be reimbursed for
distribution expenses. The amount so determined shall be paid to AEFA in
cash within five (5) business days after the last day of each month. The
additional 0.25% shall be paid to AEFA to compensate AEFA, financial
advisors and servicing agents for personal service to shareholders and
maintenance of shareholder accounts. The amount so determined shall be
paid to AEFA in cash within five (5) business days after the last day of
each quarter."
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first written above.
AXP DISCOVERY SERIES, INC.
AXP Inflation Protected Securities Fund
AXP SECTOR SERIES, INC.
AXP Real Estate Fund
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇
------------------
▇▇▇▇▇▇ ▇. ▇▇▇
Vice President
AMERICAN EXPRESS FINANCIAL ADVISORS, INC.
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------
▇▇▇▇▇ ▇. ▇▇▇▇▇
Senior Vice President and General Manager - Mutual Funds
