<PAGE> PAGE 1
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001 A000000 NATIONAL INVESTORS CASH MANAGEMENT FUND, INC.
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SIGNATURE CHRISTOPHER J. KELLEY
TITLE V.P. AND SECRETARY
<PAGE>
This report is signed on behalf of National Investors Cash Management Fund, Inc.
City of Boston Commonwealth of Massachusetts December 29, 1999
National Investors Cash Management Fund, Inc.:
BY: /s/ CHRISTOPHER J. KELLEY
--------------------------
Christopher J. Kelley
Vice President and Secretary
WITNESS: /s/ KAREN JACOPPO-WOOD
---------------------------
Karen Jacoppo-Wood
Vice President and Assistant Secretary
NATIONAL INVESTORS CASH MANAGEMENT FUND, INC.
ARTICLES OF AMENDMENT
TO THE ARTICLES OF INCORPORATION
National Investors Cash Management Fund, Inc., a Maryland corporation
having its principal Maryland office c/o The Corporation Trust Incorporated, 300
East Lombard Street, Baltimore, Maryland 21202 (hereinafter called the
"Corporation"), hereby certifies to the State Department of Assessments and
Taxation of Maryland that:
FIRST: Article V(1) of the Corporation's charter is hereby amended in its
entirety to read as follows:
The total number of shares which the Corporation has authority
to issue is one hundred billion (100,000,000,000) shares of
common stock (par value $0.0001 per share), amounting in
aggregate par value to ten million dollars ($10,000,000.00).
All of such shares of common stock are classified into four
separate series to be known as "Money Market Portfolio," "U.S.
Government Portfolio," "Municipal Portfolio," and "California
Municipal Money Market Portfolio." Each such series shall be
divided as follows: the Money Market Portfolio shall consist
of fifty billion (50,000,000,000) shares; the U.S. Government
Portfolio shall consist of twenty billion (20,000,000,000)
shares; the Municipal Portfolio shall consist of twenty
billion (20,000,000,000) shares; and the California Municipal
Money Market Portfolio shall consist of ten billion
(10,000,000,000) shares. All of the shares of each such series
are classified as a single class.
SECOND: The foregoing amendments have been effected in the manner and by
the vote required by the Corporation's charter and the laws of the State of
Maryland. The amendments were approved by a majority of the Board of Directors
of the Corporation, and at the time of approval by the Board of Directors there
were no shares of stock of the Corporation entitled to vote on the matter either
outstanding or subscribed for.
THIRD: Except as amended hereby, the Corporation's charter shall remain in
full force and effect.
FOURTH: The authorized capital stock of the Corporation has not been
increased by these Articles of Amendment.
The Vice President and Secretary acknowledges these Articles of
Amendment to be the corporate act of the Corporation and states that to the best
of his knowledge, information and belief, the matters set forth in these
Articles of Amendment with respect to the authorization and approval of the
amendment of the Corporation's charter are true in all material respects, and
that this statement is made under the penalties of perjury.
IN WITNESS WHEREOF, NATIONAL INVESTORS CASH MANAGEMENT FUND, INC. has
caused these Articles of Amendment to be signed in its name and on its behalf by
its Vice President and Secretary, a duly authorized officer of the Corporation,
and attested by its Assistant Secretary, effective the 1st day of September,
1999.
NATIONAL INVESTORS CASH
MANAGEMENT FUND, INC.
/s/ CHRISTOPHER J. KELLEY
-------------------------
Christopher J. Kelley
Vice President and Secretary
ATTEST:
/s/ KAREN JACOPPO-WOOD
- ----------------------
Karen Jacoppo-Wood
Assistant Secretary
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the National
Investors Cash Management Fund, Inc. Semiannual Report for the period ended
October 31, 1999 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0001023392
<NAME> NATIONAL INVESTORS CASH MANAGEMENT FUND, INC.
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<TABLE> <S> <C>
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<LEGEND>
This schedule contains summary financial information extracted from the National
Investors Cash Management Fund, Inc. Semiannual Report for the period ended
October 31, 1999 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0001023392
<NAME> NATIONAL INVESTORS CASH MANAGEMENT FUND INC
<SERIES>
<NUMBER> 2
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<S> <C>
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<ACCUMULATED-NET-GAINS> (1,773)
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<REALIZED-GAINS-CURRENT> (1,773)
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<NUMBER-OF-SHARES-SOLD> 1,525,489,523
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<PER-SHARE-NAV-BEGIN> 1.00
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<EXPENSE-RATIO> 0.75
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the National
Investors Cash Management Fund, Inc. Semiannual Report for the period ended
October 31, 1999 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0001023392
<NAME> NATIONAL INVESTORS CASH MANAGEMENT FUND INC
<SERIES>
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<NAME> MUNICIPAL PORTFOLIO
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<INVESTMENTS-AT-COST> 43,493,429
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 84,465,775
<NUMBER-OF-SHARES-REDEEMED> 81,910,661
<SHARES-REINVESTED> 591,488
<NET-CHANGE-IN-ASSETS> 3,146,193
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 79,979
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 247,483
<AVERAGE-NET-ASSETS> 45,334,503
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.009
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.009
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.74
</TABLE>
