POWER OF ATTORNEY
The undersigned Officers and Trustees of Ayco Series Trust whose signatures
appear below hereby make, constitute and appoint Jane A. Kanter, Ethan D. Corey
and Randy G. Legg, and each of them acting individually, to be their true and
lawful attorneys and agents, each of them with the power to act without any
other and with full power of substitution, to execute, deliver and file in the
undersigned capacity or capacities as shown below, any and all instruments that
said attorneys and agents may deem necessary or advisable to enable Ayco Series
Trust to comply with the Securities Act of 1933, as amended, and the Investment
Company Act of 1940, as amended, including any and all amendments to Ayco Series
Trust's registration statement, and any rules, regulations, orders or other
requirements of the Securities and Exchange Commission thereunder in connection
with the registration of shares or additional shares of common stock of Ayco
Series Trust or any of its series or classes thereof and the registration of
Ayco Series Trust or any of its series under the Investment Company Act of 1940,
as amended, including any and all amendments to Ayco Series Trust's registration
statement; to comply with the Internal Revenue Code of 1986, as amended; and to
comply with all state and territorial laws governing the ability of the Trust to
sell its shares in each of the States of the United States of America, the
District of Columbia, and each territory, Commonwealth and possession of the
United States of America, and without limitation of the foregoing, the power and
authority to sign the name of Ayco Series Trust on its behalf, and to sign their
names on their behalf, and said Officers and Trustees hereby grant to said
attorney or attorneys, full power and authority to do and perform each and every
act and thing whatsoever as said attorney or attorneys may deem necessary or
advisable to carry out fully the intent of this Power of Attorney to the same
extent and with the same effect as of said Officers and Trustees might or could
do personally in their capacity or capacities as aforesaid and said Officers and
Trustees ratify, confirm and approve all acts and things which said attorney or
attorneys might do or cause to be done by virtue of this Power of Attorney and
their signatures as the same may be signed by said attorney or attorneys.
Dated: September 29, 2000
/s/John Breyo /s/John J. Collins
----------------------------------- --------------------------------------
John Breyo John J. Collins, III
Trustee and Chief Executive Officer Chief Financial Officer and Controller
Dated: September 29, 2000 Dated: September 29, 2000
/s/Peter H. Heerwagen
----------------------------------
Peter H. Heerwagen
Vice President and Secretary
Dated: September 29, 2000
POWER OF ATTORNEY
The undersigned Officers and Trustees of Ayco Series Trust whose signatures
appear below hereby make, constitute and appoint Jane A. Kanter, Ethan D. Corey
and Randy G. Legg, and each of them acting individually, to be their true and
lawful attorneys and agents, each of them with the power to act without any
other and with full power of substitution, to execute, deliver and file in the
undersigned capacity or capacities as shown below, any and all instruments that
said attorneys and agents may deem necessary or advisable to enable Ayco Series
Trust to comply with the Securities Act of 1933, as amended, and the Investment
Company Act of 1940, as amended, including any and all amendments to Ayco Series
Trust's registration statement, and any rules, regulations, orders or other
requirements of the Securities and Exchange Commission thereunder in connection
with the registration of shares or additional shares of common stock of Ayco
Series Trust or any of its series or classes thereof and the registration of
Ayco Series Trust or any of its series under the Investment Company Act of 1940,
as amended, including any and all amendments to Ayco Series Trust's registration
statement; to comply with the Internal Revenue Code of 1986, as amended; and to
comply with all state and territorial laws governing the ability of the Trust to
sell its shares in each of the States of the United States of America, the
District of Columbia, and each territory, Commonwealth and possession of the
United States of America, and without limitation of the foregoing, the power and
authority to sign the name of Ayco Series Trust on its behalf, and to sign their
names on their behalf, and said Officers and Trustees hereby grant to said
attorney or attorneys, full power and authority to do and perform each and every
act and thing whatsoever as said attorney or attorneys may deem necessary or
advisable to carry out fully the intent of this Power of Attorney to the same
extent and with the same effect as of said Officers and Trustees might or could
do personally in their capacity or capacities as aforesaid and said Officers and
Trustees ratify, confirm and approve all acts and things which said attorney or
attorneys might do or cause to be done by virtue of this Power of Attorney and
their signatures as the same may be signed by said attorney or attorneys. This
Power of Attorney may be executed in counterparts.
Dated: November 28, 2000
/s/Margaret M. Keyes /s/Bryce Kucks
----------------------------------- -----------------------------------
Margaret M. Keyes Bryce Kucks
Assistant Secretary Assistant Secretary
Dated: November 28, 2000 Dated: November 28, 2000
/s/Anthony J. DePaula /s/Herbert A. Chesbrough
----------------------------------- -----------------------------------
Anthony J. DePaula Herbert A. Chesbrough
Trustee Trustee
Dated: November 28, 2000 Dated: November 28, 2000
