Name of Fund: Goldman Sachs International Equity Fund
Name of Underwriter From Who Purchased: Deutsche Bank
Names of Underwriting syndicate members: Deutsche Bank and Goldman Sachs
International
Name of Issuer: Infineon and Siemens Nederland
Title of Security: Infineon Technology - ordinary shares
Date of First Offering: March 15, 2000
Dollar Amount Purchased: $66,920
Number of Shares Purchased: 1,912
Price Per Unit: Euro 35/836.75
Resolution Approved by the Board of Trustees:
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs Capital Growth Fund
Name of Underwriter From Who Purchased: Credit Suisse First Boston; Morgan
Stanley Dean Witter
Names of Underwriting syndicate members:
Goldman, Sachs & Co., Credit Suisse First Boston, Banc of America, DLJ, Lehman
Brothers, Merrill Lynch, Morgan Stanley, Warburg Dillon Read, J.P. Morgan
Name of Issuer: Metlife
Title of Security: Metlife
Date of First Offering: April 7, 2000
Dollar Amount Purchased: $54,150.00
Number of Shares Purchased: 3,800
Price Per Unit: $14.25
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs Growth and Income Fund
Name of Underwriter From Who Purchased:
Allen & Company, Salomon Smith Barney, Robertson Stephens, Merrill Lynch,
First Union, Credit Suisse First Boston, Sanford Bernstein
Names of Underwriting syndicate members:
Goldman Sachs, Merrill Lynch, Morgan Stanley Dean Witter, Salomon Smith Barney,
Credit Suisse, Lehman Brothers, Bank of America, M.R. Beal, Bear Stearns, Chase
H&Q, Deutsche Banc, DLJ, JP Morgan, Painewebber, Prudential Volpe, Sanford
Bernstein, Thomas Weisel, AT&T Wireless Group.
Name of Issuer: AT&T Wireless Group
Title of Security: AT&T Wireless Group
Date of First Offering: May 5, 2000
Dollar Amount Purchased: $94,400.00
Number of Shares Purchased: 3,200
Price Per Unit: $29.50
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs Internet Tollkeeper Fund
Name of Underwriter From Who Purchased: Credit Suisse First Boston
Names of Underwriting syndicate members:
Credit Suisse First Boston, Robertson Stephens, Wit Soundview Corporation,
Donaldson, Lufkin & Jenrette, E*Offering Corp.
Name of Issuer: Virage, Inc.
Title of Security: Virage, Inc.
Date of First Offering: June 29, 2000
Dollar Amount Purchased: $550.00
Number of Shares Purchased: 50
Price Per Unit: Euro $11.00
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs Internet Tollkeeper Fund
Name of Underwriter From Who Purchased: Merrill Lynch
Names of Underwriting syndicate members:
Merrill Lynch, RBC Dominion Securities, Wit Soundview, CIBC World Markets
Name of Issuer: EXFO Electro Optical
Title of Security: EXFO Electro Optical
Date of First Offering: June 23, 2000
Dollar Amount Purchased: $$780.00
Number of Shares Purchased: 30
Price Per Unit: $26.00
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs Internet Tollkeeper Fund
Name of Underwriter From Who Purchased: Credit Suisse First Boston
Names of Underwriting syndicate members:
Credit Suisse First Boston, Merrill Lynch, Donaldson, Lufkin & Jenrette, US
Bancorp, Piper Jaffray Inc., Chase Securities, Wit Soundview Corporation
Name of Issuer: Handspring, Inc.
Title of Security: Handspring, Inc.
Date of First Offering: June 20, 2000
Dollar Amount Purchased: $200.00
Number of Shares Purchased: 10
Price Per Unit: $20.00
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs Internet Tollkeeper Fund
Name of Underwriter From Who Purchased: Credit Suisse First Boston
Names of Underwriting syndicate members:
Credit Suisse First Boston, Chase Securities, US Bancorp, Piper Jaffray,
CIBC World Markets, Dain Rauscher Inc., Wit Soundview, Merrill Lynch
Name of Issuer: New Focus, Inc.
Title of Security: New Focus Inc.
Date of First Offering: May 17, 2000
Dollar Amount Purchased: $800.00
Number of Shares Purchased: 40
Price Per Unit: $20.00
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs International Equity Fund
Name of Underwriter From Who Purchased: Dresdner Kleinwort Benson
Names of Underwriting syndicate members:
Dresdner Kleinwort Benson, Goldman Sachs International
Name of Issuer: T-Online International AG
Title of Security: T-Online International AG
Date of First Offering: April 16, 2000
Dollar Amount Purchased: USD 10,441.30
Number of Shares Purchased: 406
Price Per Unit: Euro Euro 27/ USD 25.96
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs International Equity Fund
Name of Underwriter From Who Purchased: Dresdner Kleinwort Benson
Names of Underwriting syndicate members:
Deutsche Bank and Goldman Sachs International
Name of Issuer: T-Online International AG
Title of Security: T-Online International AG
Date of First Offering: April 16, 2000
Dollar Amount Purchased: USD 744,701.48
Number of Shares Purchased: 28,957
Price Per Unit: Euro 27/USD 25.96
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs Growth and Income Fund
Name of Underwriter From Who Purchased:
Bear Stearns, Warburg Dillon Read, Salomon Smith Barney, Morgan Stanley,
Merrill Lynch, Credit Suisse First Boston, Donaldson, Lufkin & Jenrette
Names of Underwriting syndicate members:
Morgan Stanley, Goldman Sach, Merrill Lynch, CS First Boston, Salomon Smith
Barney; Warburg
Name of Issuer: United Parcel Service Inc.
Title of Security: United Parcel Service Inc.
Date of First Offering: November 9, 1999
Dollar Amount Purchased: $165,000.00
Number of Shares Purchased: 3,300
Price Per Unit: $50.00
<PAGE>
EX-99.77O - Transactions effected pursuant to Rule 10f-3
Name of Fund: Goldman Sachs Mid Cap Value Fund
Name of Underwriter From Who Purchased: DLJ, Merrill Lynch, First Boston,
Bear Stearns & Co.
Names of Underwriting syndicate members:
DLJ, Chase Securities, CS First Boston, Deutsche Banc, Alex Brown, Goldman
Sachs, Merrill Lynch, Morgan Stanley
Dean Witter
Name of Issuer: International Home Foods
Title of Security: International Home Foods
Date of First Offering: October 21, 1999
Dollar Amount Purchased: $121,500
Number of Shares Purchased: 8,100
Price Per Unit: $15.00
<PAGE>
APPROVE RULE 10f-3 TRANSACTIONS*
Proposed Resolution to be Adopted
By the Trustees of
Goldman Sachs Trust and Goldman Sachs Variable Insurance Trust
RESOLVED, that, in reliance upon the written report provided
by Goldman, Sachs & Co. ("Goldman Sachs") to the Trustees all purchases
made during the fiscal quarter ended April 30, 2000, for the fixed
income Funds, May 31, 2000 for the equity Funds, and June 30, 2000 for
the money market and specialty Funds, on behalf of the Goldman Sachs
Trust Funds of instruments during the existence of underwriting or
selling syndicates, under circumstances where Goldman Sachs or any of
its affiliates is a principal underwriter of the instruments, were
effected in compliance with the procedures adopted by the Trustees
pursuant to Rule 10f-3 under the Investment Company Act of 1940, as
amended; and
FURTHER RESOLVED, that, in reliance upon the written report provided by Goldman,
Sachs & Co. ("Goldman Sachs") to the Trustees all purchases made during the
fiscal quarter ended June 30, 2000, for the fixed income and equity Funds, on
behalf of the Variable Insurance Trust Funds of instruments during the existence
of underwriting or selling syndicates, under circumstances where Goldman Sachs
or any of its affiliates is a principal underwriter of the instruments, were
effected in compliance with the procedures adopted by the Trustees pursuant to
Rule 10f-3 under the Investment Company Act of 1940, as amended.
