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SIGNATURE ABRAHAM BIDERMAN
TITLE TREASURER
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</TABLE>
<TABLE> <S> <C>
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<TABLE> <S> <C>
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<SERIES>
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<TABLE> <S> <C>
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<NAME> LIPPER FUNDS, INC.
<SERIES>
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<NAME> HIGH INCOME BOND FUND, RETAIL SHARES
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<TABLE> <S> <C>
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<NAME> LIPPER FUNDS, INC.
<SERIES>
<NUMBER> 013
<NAME> HIGH INCOME BOND FUND, GROUP RETIREMENT PLAN SHARES
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<SHARES-COMMON-PRIOR> 471,992
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<NET-INVESTMENT-INCOME> 3,514,221
<REALIZED-GAINS-CURRENT> 560,068
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</TABLE>
THE LIPPER FUNDS, INC.
ARTICLES OF AMENDMENT
CHANGING NAME OF SERIES
PURSUANT TO MGCL SECTION 2-605(a)(4)
The Lipper Funds, Inc., a Maryland corporation, having its principal office in
Baltimore
City, Maryland (hereinafter called the "Corporation"), hereby certifies to the
State Department of
Assessments and Taxation of Maryland that:
FIRST: The Charter of the Corporation is hereby amended to provide
that
the name of the Prime Lipper Europe Equity Fund series of Common Stock of the
Corporation is
changed to "Lipper Prime Europe Equity Fund."
SECOND: The amendment does not change the outstanding capital stock of the
Corporation or the aggregate par value thereof.
THIRD: The foregoing amendment to the Charter of the Corporation has been
approved by the Board of Directors and is limited to a change expressly
permitted by Section 2-
605(a)(4) of the Maryland General Corporation Law.
FOURTH: The Corporation is registered as an open-end investment management
company under the Investment Company Act of 1940, as amended.
FIFTH: These Articles shall become effective on June 30, 1999.
IN WITNESS WHEREOF, the Corporation has caused these presents to be signed in
its
name and on its behalf by its Chairman of the Board and President and witnessed
by its Secretary
on this ____ day of ______________, 1999.
THE LIPPER FUNDS, INC.
By:
Name: Kenneth Lipper
Title: Chairman of the Board
and President
ATTEST:
_________________________
Name: Abraham Biderman
Title: Secretary
THE UNDERSIGNED, the Chairman of the Board and President of The Lipper Funds,
Inc. who executed on behalf of the Corporation the foregoing Articles of
Amendment of which
this certificate is made a part, hereby acknowledges in the name and on behalf
of the Corporation
the foregoing Articles of Amendment to be the corporate act of the Corporation
and hereby
certifies to the best of his knowledge, information and belief the matters and
facts set forth herein
with respect to the authorization and approval thereof are true in all material
respects under the
penalties of perjury.
Name: Kenneth Lipper
Title: Chairman of the Board
and President
(Footnote continued from previous page)
(Footnote continued to next page)
- - 2 -
THIS SECTION IS TAKEN FROM THE MINUTES OF:
THE LIPPER FUNDS, INC.
MINUTES OF THE REGULAR
MEETING OF THE BOARD OF DIRECTORS
Held on Friday, March 26, 1999 at 2:30 p.m.
OTHER BUSINESS
Finally, Mr. Lipper noted that the objective for the High Income Bond
Fund was
proposed to be revised as follows: to achieve high total return with capital
preservation.
Mr. Block reminded the Directors that the Fund's investment objective is
nonfundamental and can be amended without shareholder approval. Mr. Block
further
stated that shareholders would be notified of the change in advance. He stated
that it was
a descriptive change which would not impact the management of the Portfolio.
Following discussion, upon motion duly made and seconded, the following
resolutions
were unanimously approved:
RESOLVED, the proposal by Lipper & Company, L.L.C. to allow the Lipper
High Income Bond Fund to revise the investment objective to
achieve high total return with capital preservation, is hereby
approved; and it is
FURTHER
RESOLVED, that the appropriate officers of the Company, and each of
them
hereby is, authorized and instructed to take any and all such
actions as they deem necessary and appropriate to effectuate the
purpose and intent of the foregoing resolution, including the
filing of disclosure documents with the Securities and Exchange
Commission, state regulatory authorities, and other appropriate
agencies or bodies and the execution of all pertinent documents
and filings.
