John J. Collins, III
Chief Financial Officer
(518) 884-7979
(518) 884-7447 fax
November 7, 2000
Ayco Series Trust
One Wall Street
Albany, New York 12205
Re: Offer of Subscription to The Ayco Large Cap Growth Fund I
Dear Sirs:
The Ayco Company, L.P. hereby offers to subscribe for the purchase of 10,000
shares of The Ayco Large Cap Growth Fund I (the, "Fund") at the price of $10.00
per share which may be demanded in cash by the Fund. The Ayco Company, L.P.
proposes to purchase the shares in a private offering prior to the effectiveness
of the Trust's registration statement on Form N-1A filed under the Securities
Act of 1933 and the Investment Company Act of 1940, as amended. The Ayco
Company, L.P. hereby represents and warrants that it has no present intention of
redeeming or selling its beneficial interest in the Fund and is making this
purchase for investment purposes.
Very truly yours,
/s/John J. Collins
John J. Collins, III
Chief Financial Officer
AYCO SERIES TRUST
Peter H. Heerwagen
Vice President - Ayco Series Trust
(518) 373-2659
(518) 373-0939 Fax
November 8, 2000
John J. Collins, III
Chief Financial Officer
The Ayco Company, L.P.
101 State Farm Place
P.O. Box 8019
Ballston Spa, New York 12020-8019
Re: Subscription for the Purchase of The Ayco Large Cap Growth Fund I
Dear Mr. Collins:
Ayco Series Trust (the, "Trust"), on behalf of Ayco Large Cap Growth Fund I
(the, "Fund") hereby accepts your offer to purchase 10,000 shares of the Fund at
$10.00 per share. The Trust accepts your offer conditioned upon your
representation that The Ayco Company, L.P. has no present intention of redeeming
or selling the shares and has purchased the shares for investment purposes.
Please wire $100,000 to:
Firstar Bank, N.A.
ABA #: 0420-00013
Firstar Trust MFS A/C# 112-952-137
777 East Wisconsin Ave., Milwaukee, WI 53202
Credit to Ayco Seed Money
Upon receipt of such funds, the Trust will instruct the Trust's transfer agent
to take all actions necessary to issue the appropriate amount of uncertificated
shares to The Ayco Company, L.P., with such uncertificated shares being held in
the shareholder account of The Ayco Company, L.P.
Very truly yours,
/s/Peter H. Heerwagen
Peter H. Heerwagen
Vice President
