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<PAGE> EXHIBIT 14 CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference of our reports dated November 15, 2000 for Kemper High Yield Fund and November 16, 2000 for Kemper High Yield Fund II in the Registration Statement (Form N-14) and related Proxy Statement/Prospectus of Kemper High Yield Series filed with the Securities and Exchange Commission under the Securities Act of 1933. ERNST & YOUNG LLP Chicago, Illinois December 14, 2000
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