[LETTERHEAD OF SULLIVAN & CROMWELL]
November 17, 2000
VIA EDGAR
Securities and Exchange Commission,
450 Fifth Street, N.W.,
Washington, D.C. 20549.
Attention: Ruth Sanders
Re: Express Scripts Automatic Exchange Security
Trust - Withdrawal Of Amendment No. 5 to
Registration Statements on Form N-2,
File Nos. 333-77547 / 811-09319
(accession number 0000950123-00-009455)
-------------------------------------------
On behalf of Express Scripts Automatic Exchange Security Trust (the
"Trust"), we filed via EDGAR on October 17, 2000 a Pre-Effective Amendment No. 5
to Registration Statement on Form N-2 under the Investment Company Act of 1940
and the Securities Act of 1933. We respectfully request that, pursuant to Rule
477 the above-captioned amendment be withdrawn.
Very truly yours,
/s/ Alexander Kaplun
Alexander Kaplun
<PAGE>
Securities and Exchange Commission -2-
cc: Paul S. Efron
Kenneth L. Josselyn
Michael E. Kaine
(Goldman, Sachs & Co.)
Briccio B. Barrientos
(Securities and Exchange Commission)
