Exhibit 77I

For AXP Investment Series, Inc.:
For AXP Mutual and AXP Diversified Equity Income Fund:

Class C shares  are sold to the  public  without  a sales  charge at the time of
purchase and with an annual 12b-1 fee of 1.00%. A 1.00%  contingent sales charge
applies if shares are sold less than one year after purchase.



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