<PAGE> 1
EXHIBIT 2.N.(III)
CONSENT TO BEING NAMED AS TRUSTEE
The undersigned hereby consents to being named in the Registration
Statement on Form N-2 of Express Scripts Automatic Exchange Security Trust
(formerly, the Eleventh Automatic Common Exchange Security Trust) (the "Trust")
and any amendments thereto, as a person about to become a trustee of the Trust.
Dated: October 26, 2000
/s/ Donald J. Puglisi
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Donald J. Puglisi
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CONSENT TO BEING NAMED AS TRUSTEE
The undersigned hereby consents to being named in the Registration
Statement on Form N-2 of Express Scripts Automatic Exchange Security Trust
(formerly, the Eleventh Automatic Common Exchange Security Trust) (the "Trust")
and any amendments thereto, as a person about to become a trustee of the Trust.
Dated: October 26, 2000
/s/ William R. Latham, III
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William R. Latham, III
<PAGE> 3
CONSENT TO BEING NAMED AS TRUSTEE
The undersigned hereby consents to being named in the Registration
Statement on Form N-2 of Express Scripts Automatic Exchange Security Trust
(formerly, the Eleventh Automatic Common Exchange Security Trust) (the "Trust")
and any amendments thereto, as a person about to become a trustee of the Trust.
Dated: October 26, 2000
/S/ James B. O'Neill
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James B. O'Neill
