Notes to Financial Statements
Note 2--Fees and Transactions with Affiliates
The Portfolio has entered into an Administration and Services Agreement with Bankers Trust Company
("Bankers Trust"). Under this Administration and Services Agreement, Bankers Trust provides administrative,
custody, transfer agency and shareholder services to the Portfolio in return for a fee computed daily and paid
monthly at an annual rate of 0.15% of the Portfolio's average daily net assets.
The Portfolio has entered into an Advisory Agreement with Bankers Trust. Under this Advisory Agreement, the
Portfolio pays Bankers Trust an advisory fee computed daily and paid monthly at an annual rate of .65% of the
Portfolio's average daily net assets.
Bankers Trust has voluntarily undertaken to waive its fees and reimburse expenses of the Portfolio, to the extent
necessary, to limit all expenses to 0.70% of the average daily net assets of the Portfolio.
The Portfolio may invest in the Institutional Cash Management Fund (the "Fund"), an open-end management
investment company managed by Bankers Trust Company (the "Company"). The Fund is offered as a cash
management option to the Portfolio and other accounts managed by the Company. Distributions from the Fund to
the Portfolio for the periods ended October 31, 1999 and September 30, 1999 amounted to $350,496 and
$4,656,980, respectively which are included in dividend income.
At September 30, 1999, the Portfolio was a participant with other affiliated entities in a revolving credit facility in
the amount of $100,000,000 which expires April 29, 2000. A commitment fee of .10% per annum on the
average daily amount of the available commitment is payable on a quarterly basis and apportioned equally among
all participants. On October 8, 1999, the revolving credit facility was increased to $150,000,000. For the twelve
month period ended September 30, 1999, $40,000,000 was drawn down under the credit facility at an interest
rate range of 5.59% to 5.83%. Total interest charges as