ITEM 77M
MERGERS
Pursuant to the Securities Act of 1933, as amended, and the General Rules and
Regulations thereunder, a preliminary Registration Statement on form N-14 (SEC
File No. 2-29786) was filed on June 19, 2000. This filing relates to an
Agreement and Plan of Reorganization between IAI Balanced Fund (IAI Fund), a
series of IAI Investment Funds VI, Inc. and Federated Stock and Bond Fund,
Inc.(Stock and Bond Fund), whereby Stock and Bond Fund acquired all of the
assets and assumed certain liabilities of the IAI Fund in exchange for Class A
Shares of Stock and Bond Fund to be distributed pro rata by the IAI Fund to
its shareholders in complete liquidation and termination of the IAI Fund. As
a result of the Special Meeting of the IAI Fund shareholders held on September
8, 2000, each shareholder of the IAI Fund became the owner of Stock and Bond
Fund Class A Shares, having a total net asset value equal to the total net
asset value of his or her holdings in the IAI Fund on the date of the
Reorganization.
The Agreement and Plan of Reorganization providing for the transfer of the
assets of the IAI Fund to Stock and Bond Fund was approved by the IAI Fund
Board of Directors at a meeting held on June 12, 2000.
The Agreement and Plan of Reorganization concerning this acquisition is hereby
incorporated by reference from the definitive Prospectus/Proxy Statement filed
with the Securities and Exchange Commission July 31, 2000.
