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SIGNATURE STEVE KEANE
TITLE ASST. GEN. COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000067578
<NAME> Money Market trust
<SERIES>
<NUMBER> 001
<NAME> Money Market trust
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<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.030
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.030)
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<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.46
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
Exhibit 77N
The following Executive Committee and Board of Directors meeting minutes and
Letters to the SEC describe action taken during Money Market Trust's
reporting period with respect to defaulted securities held during the period
covered by this report.
MINUTES OF THE MEETING
HELD AUGUST 10, 1999
OF THE EXECUTIVE COMMITTEE OF:
Cash Trust Series, Inc. ("CTSI")
Federated Insurance Series ("FINS")
Money Market Management, Inc. ("MMM")
Money Market Obligations Trust ("MMOT")
Money Market Trust ("MMT")
(the "Funds")
________________________________________________________________________
Pursuant to call, a telephonic meeting (the "Meeting") of the
Funds convened at 4:30 P.M. on Tuesday, August 10, 1999 at the Federated
Investors, Inc. ("Federated") Tower, Pittsburgh, Pennsylvania.
The following members, constituting the Executive Committee (the
"Committee"), were present at the meeting:
John F. Donahue (by telephone)
John E. Murray, Jr., J.D. (by telephone)
The following persons were also present in person, unless noted
otherwise, at the Meeting:
G. Andrew Bonnewell, Senior Corporate Counsel, Federated
Jonathan Conley, Senior Vice President, Federated Global
Investment Management Company, Federated Investment Counseling,
Federated Investment Management Company, and Passport Research Limited
("Federated Advisory Companies")
William D. Dawson, III, Executive Vice President and Chief
Investment Officer, Federated Advisory Companies
J. Christopher Donahue (via telephone), President and Chief
Executive Officer, Federated; President, Federated Advisory
Companies; Officer of the Funds
Thomas R. Donahue, Vice President, Chief Financial Officer and
Treasurer, Federated
Emily H. Emigh, Senior Vice President, Federated Administrative
Services ("FAS"); Director of Internal Audit, Federated
Raymond Hanley, Senior Vice President, Federated Investors
Management Company ("FIMCo")
Stephen A. Keen, General Counsel, Federated
Suzanne W. Land, Paralegal Supervisor, Federated
Denis McAuley, III, Senior Vice President, FIMCo, Vice President,
FII Holdings, Inc., and Assistant Treasurer, Federated
John W. McGonigle, Chief Legal Officer and Executive Vice
President, Federated; Officer of the Funds
Leslie K. Ross, Associate Corporate Counsel, Federated
Richard J. Thomas, Vice President, FAS
Mr. Stephen A. Keen stated that the purpose of the meeting was to
discuss the likely default of funding agreements (the "Funding
Agreements") issued by General American Life Insurance Company
("General American") and held by Automated Cash Management Trust
("ACMT"), a portfolio of MMOT; Federated Master Trust ("FMT"), a
portfolio of MMOT; Federated Prime Money Fund II ("IFPMF"), a
portfolio of FINS; MMM; MMT; and Prime Cash Series ("PCS"), a
portfolio of CTSI (collectively, "the Money Market Funds"). Mr. Keen
described the structure of the Funding Agreements, indicating that they
were contracts between General American and the Money Market Funds. Mr.
Keen reported that each of the Funding Agreements included a demand
feature, exercisable on seven days' notice, which entitled the Money
Market Funds to receive their invested funds back from General American.
He noted that the Money Market Funds had exercised their demand features
on August 4, 1999, and were due payment from General American on August
11, 1999. He reported that earlier in the day, Federated Investment
Management Company (the "Adviser"), investment adviser to the Money
Market Funds, had received information that General American had
defaulted on similar funding agreements with other investors who had
exercised demand features. In addition, the Adviser had discovered
that General American had requested and received administrative
supervision from the Missouri insurance commissioner. Mr. Keen noted
such action could constitute an event of insolvency under Rule 2a-7 of
the Investment Company Act of 1940. He added that it was likely that
the Adviser would determine that the Funding Agreements no longer
presented minimal credit risks. Mr. Keen said that as a consequence,
the Money Market Funds were required to dispose of the Funding
Agreements unless the Board of Directors of the Money Market Funds found
that such disposal would not be in the best interests of the Money
Market Funds. Mr. Keen asked Mr. Dawson to provide background on the
General American situation.
Mr. William D. Dawson, III indicated that the General American
situation resulted from its issuance of a significant amount of short-
term funding agreements to large institutional investors, primarily
money market funds. He said that the funding agreements included a
demand feature exercisable on seven days' notice. He indicated that on
July 30, 1999, Moody's Investors Services, Inc. ("Moody's") downgraded
General American's long-term rating from A2 to A3 and a large number of
investors exercised their demand features. Mr. Dawson said that this
required General American to raise a significant amount of cash within a
short time frame, and that it had inadequate liquidity resources to do
so.
Mr. Dawson noted that in a press release earlier in the day,
General American had indicated that it was well capitalized and had
adequate assets to meet its obligations. He further noted that the
press release indicated that General American had requested
administrative supervision to allow it to respond to its institutional
investors, making certain that all its obligations were honored. Mr.
Dawson indicated that based on such information, he believed that the
General American situation was an issue of liquidity, not insolvency,
and that a loss under the Funding Agreements was unlikely.
Mr. Dawson then chronicled recent ratings of General American. He
reported that on March 5, 1999, Moody's downgraded General American's
long-term rating from A1 to A2. He said that shortly thereafter,
Federated downgraded its rating of General American from a 3 to a 4. Mr.
Dawson said that on July 30, 1999, Moody's downgraded General American's
long-term rating from A2 to A3. Mr. Dawson noted that on August 9,
1999, Moody's downgraded General American's long-term rating from A3 to
Ba1 and Standard & Poor's ("S&P") downgraded General American's short-
term rating from A-1+ to A-3. On August 10, 1999, S&P downgraded
General American's short-term ratings from A-3 to R and Duff & Phelps
Credit Rating Co. downgraded General American's short-term and long
term-ratings from D-1/AA to D-5/DD. Mr. Keen interjected that due to the
prior day's downgrades, the Funding Agreements were not eligible
securities for the Money Market Funds.
Mr. Keen then noted that the net asset value of the Money Market
Funds was protected by portfolio insurance issued by a subsidiary of
Zurich American Insurance Group. Mr. Keen explained that the insurance
policy provides that, in the event of a default in a portfolio of any of
the Money Market Funds, the insurance company will pay the fund the
amount, up to the policy limit, necessary for the Money Market Funds to
continue to price their shares at $1.00. Mr. Keen noted that the
insurance policy provides coverage for losses up to $150,000,000. Mr.
Dawson interjected that there was minimal risk that, if the Funding
Agreements were not paid in full, the loss would exceed the Money Market
Funds' default insurance coverage.
Mr. Keen then discussed options for resolving the issue and
pricing the Money Market Funds. He indicated that the Money Market
Funds could either liquidate or retain the Funding Agreements. However,
he noted that an immediate liquidation was not viable because the
Funding Agreements were actually contracts between General American and
the Money Market Funds, and were thus not readily transferable. Mr.
Dawson interjected that market conditions would likely affect the
orderly disposition of the Funding Agreements, even if they could be
transferred. Mr. Keen then discussed the means for valuing shares.
After full discussion, the Executive Committee of each of the Funds,
individually, and unanimously,
RESOLVED, that the Executive Committee of the Money Market
Funds hereby determines that each of the Money
Market Funds could continue to use the amortized
cost method of valuing its shares and that it
was not in the best interest of the Money Market
Funds to liquidate the funding agreements.
The Committee then agreed to submit this determination to the
Board for ratification. It was also noted that the Committee would
reconvene, if necessary.
There being no further business to come before the Committee, the
meeting was thereupon duly adjourned.
Respectfully submitted,
/s/ John F. Donahue
John F. Donahue
/s/ John E. Murray, Jr. J.D.
John E. Murray, Jr., J.D.
MINUTES OF THE MEETING
HELD AUGUST 11, 1999
OF THE BOARDS OF:
Cash Trust Series, Inc. ("CTSI")
Federated Insurance Series ("FINS")
Money Market Management, Inc. ("MMM")
Money Market Obligations Trust ("MMOT")
Money Market Trust ("MMT")
("the Funds")
________________________________________________________________________
Pursuant to call, a Special Telephonic Meeting (the "Meeting")
of the Board of Directors (the "Board") of the Funds convened at
10:00 A.M. on Wednesday, August 11, 1999, at Federated Investors, Inc.
("Federated") Tower, Pittsburgh, Pennsylvania.
The following members, constituting the full Board, with the
exception of Peter E. Madden, were present at the Meeting via telephone
(unless noted otherwise):
John F. Donahue (in person) J. Christopher Donahue
Thomas G. Bigley Lawrence D. Ellis, M.D.
John T. Conroy, Jr. Edward L. Flaherty, Jr.
Nicholas P. Constantakis Charles F. Mansfield,
Jr.
William J. Copeland John E. Murray, Jr.,
J.D.
John F. Cunningham Wesley W. Posvar
Marjorie P. Smuts
John S. Walsh
The following persons were also present in person (unless noted
otherwise) at the Meeting:
G. Andrew Bonnewell, Senior Corporate Counsel, Federated
Jonathan Conley, Senior Vice President, Federated Global
Investment Management Company, Federated Investment Counseling,
Federated Investment Management Company, and Passport Research Limited
("Federated Advisory Companies")
William D. Dawson, III, Executive Vice President and Chief
Investment Officer, Federated Advisory Companies
J. Christopher Donahue, President and Chief Executive Officer,
Federated; President, Federated Advisory Companies; Officer of the
Funds (via telephone)
Thomas R. Donahue, Vice President, Chief Financial Officer and
Treasurer, Federated
Emily H. Emigh, Senior Vice President and Director of Internal
Audit, Federated Administrative Services ("FAS")
Raymond Hanley, Senior Vice President, Federated Investors
Management Company ("FIMCo")
Stephen A. Keen, General Counsel, Federated
Suzanne W. Land, Paralegal Supervisor, Federated
Denis McAuley, III, Senior Vice President, FIMCo, Vice President,
FII Holdings, Inc., and Assistant Treasurer, Federated
John W. McGonigle, Chief Legal Officer and Executive Vice
President, Federated; Officer of the Funds
Matthew G. Maloney (via telephone), Partner, Dickstein Shapiro
Morin & Oshinsky LLP; Special Counsel to the Funds
Leslie K. Ross, Associate Corporate Counsel, Federated
Richard J. Thomas, Vice President, FAS
Mr. John F. Donahue served as Chairman and Mr. John W. McGonigle
recorded the proceedings as Secretary.
Mr. Stephen A. Keen stated that the purpose of the meeting was to
discuss funding agreements (the "Funding Agreements") issued by
General American Life Insurance Company ("General American") and held
by Automated Cash Management Trust ("ACMT"), a portfolio of MMOT;
Federated Master Trust ("FMT"), a portfolio of MMOT; Federated Prime
Money Fund II ("IFPMF"), a portfolio of FINS; MMM; MMT; and Prime Cash
Series ("PCS"), a portfolio of CTSI (collectively, "the Money Market
Funds"). Mr. Keen reported that the Funding Agreements were no longer
eligible securities under Rule 2a-7 of the Investment Company Act of
1940. He described the structure of the Funding Agreements, indicating
that they were contracts between General American and the Money Market
Funds. Mr. Keen reported that each of the Funding Agreements included a
demand feature, exerciseable on seven days' notice, which entitled the
Money Market Funds to receive their invested funds back from General
American. He noted that the Money Market Funds had exercised their
demand features on August 4, 1999, and were due payment from General
American on August 11, 1999. He reported that on August 10, 1999,
Federated Investment Management Company (the "Adviser"), investment
adviser to the Money Market Funds, had received information that General
American had defaulted on similar funding agreements with other
investors who had exercised demand features. In addition, the Adviser
had discovered that General American had requested and received
administrative supervision from the Missouri insurance commissioner.
Mr. Keen noted that such action could constitute an event of insolvency
under Rule 2a-7. He added that it was likely that the Adviser would
determine that the Funding Agreements no longer presented minimal credit
risks. Finally, he noted that as a result of ratings downgrades on
August 9, 1999, the Funding Agreements were no longer eligible
securities for the Money Market Funds. Mr. Keen said that as a
consequence, the Money Market Funds were required to dispose of the
Funding Agreements absent a finding by the Board of Directors of the
Money Market Funds that such disposal would not be in the best interests
of the Money Market Funds. Mr. Keen asked Mr. Dawson to provide
background on the General American situation.
Mr. William D. Dawson, III indicated that the General American
situation resulted from its issuance of a significant amount of short-
term funding agreements to large institutional investors, primarily
money market funds. He said that the funding agreements included a
demand feature exerciseable on seven days' notice. He indicated that on
July 30, 1999, Moody's Investors Service ("Moody's") downgraded
General American's long-term rating from A2 to A3 and a large number of
investors exercised their demand features. Mr. Dawson said that this
required General American to raise a significant amount of cash within a
short time frame, and that it had inadequate liquidity resources to do
so.
Mr. Dawson noted that in a press release issued on August 10,
1999, General American had indicated that it was well capitalized and
had adequate assets to meet its obligations. He further noted that the
press release indicated that General American had requested
administrative supervision to allow it to respond to its institutional
investors, making certain that all its obligations were honored. Mr.
Dawson indicated that based on such information, he believed that the
General American situation was an issue of liquidity, not insolvency,
and that a loss under the Funding Agreements was unlikely.
Mr. Dawson then chronicled recent ratings of General American. He
reported that on March 5, 1999, Moody's downgraded General American's
long-term rating from A1 to A2. He said that shortly thereafter,
Federated downgraded its rating of General American from a 3 to a 4.
Mr. Dawson said that on July 30, 1999, Moody's downgraded General
American's long-term rating from A2 to A3. Mr. Dawson noted that on
August 9, 1999, Moody's downgraded General American's long-term rating
from A3 to Ba1 and Standard & Poor's ("S&P") downgraded General
American's short-term rating from A-1+ to A-3. On August 10, 1999, S&P
downgraded General American's short-term ratings from A-3 to R and Duff
& Phelps Credit Rating Co. downgraded General American's short-term and
long-term ratings from D-1/AA to D-5/DD. Mr. Keen interjected that due
to the prior day's downgrades, the Funding Agreements were not eligible
securities for the Money Market Funds.
Mr. Keen then noted that the net asset value of the Money Market
Funds was protected by portfolio insurance issued by a subsidiary of
Zurich American Insurance Group. Mr. Keen explained that the insurance
policy provides that, in the event of a default in a portfolio of any of
the Money Market Funds, the insurance company will pay the fund the
amount, up to the policy limit, necessary for the Money Market Funds to
continue to price their shares at $1.00. Mr. Keen noted that the
insurance policy provides coverage for losses up to $150,000,000. Mr.
Dawson interjected that there was minimal risk that, if the Funding
Agreements were not paid in full, the loss would exceed the Money Market
Funds' default insurance coverage.
Mr. Dawson indicated that the Money Market Funds hold $320
million in Funding Agreements. He informed the Board that a
representative of J.P. Morgan & Co. had contacted the Adviser on August
10, 1999 and indicated that they would like to discuss the possibility
of engaging in credit swaps and that the Adviser was going to explore
such possibility.
Mr. Keen reviewed the discussions that had taken place at the
Executive Committee Meeting held on August 10, 1999. He indicated that
action alternatives had been debated, and that the Committee had
resolved that the Money Market Funds should not liquidate their
positions in General American, and that the Money Market Funds could
continue to use the amortized cost method of valuating their shares.
Mr. Keen explained to the Board that it was their responsibility
to determine whether the security should be liquidated or retained. He
noted that an immediate liquidation was not viable because the Funding
Agreements were actually contracts between General American and the
Money Market Funds, and were thus not readily transferable. Mr. Dawson
interjected that market conditions would likely affect the orderly
disposition of the Funding Agreements, even if they could be
transferred. Mr. Keen then discussed the means for valuing shares.
After full discussion, on motion duly made and seconded, the full Boards
present of each of the Funds, individually, unanimously
RESOLVED, that the Boards of Directors of the Money Market
Funds hereby determine that it is not in the
best interest of the Money Market Funds to
liquidate the securities, and further determines
that each of the Money Market Funds will
continue to use the amortized cost method of
valuation to value its shares.
There being no further business, on motion duly made and seconded,
the Meeting was thereupon duly adjourned.
Respectfully submitted,
/s/ John W. McGonigle
John W. McGonigle
Secretary
Federated Investors
Management Co.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
412-288-1900 Phone
www.federatedinvestors.com
August 11, 1999
By FAX and Overnight Mail
Mr. Paul Roye
Director of the Division of Investment Management
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: Money Market Obligations Trust, on behalf of its Automated Cash
Management Trust
("ACMT")
Federated Master Trust ("FMT")
Federated Insurance Series, on behalf of its Federated Prime Money
Fund II ("IFPMF")
Money Market Management ("MMM")
Money Market Trust ("MMT")
Cash Trust Series, Inc., on behalf of its Prime Cash Series
("PCS")
Dear Mr. Roye:
This letter is to follow up the letter (the "Letter") that Federated
Investment Management Company (the "Adviser"), as investment adviser
to the above-referenced investment companies (collectively, the
"Funds"), provided earlier today pursuant to the Rule 2a-7(c)(6)(iii)
under the Investment Company Act of 1940.
On August 11, 1999, the Funds' Boards of Directors ("Boards") met with
regard to the issue described in the Letter and affirmed the
determinations made on August 10, 1999 by the Executive Committee of the
Funds' Boards. Specifically, the Boards determined that each Fund could
continue to use the Amortized Cost Method of valuing its shares in
accordance with Rule 2a-7. The Boards therefore determined that it
would be in the best interest of the Funds' shareholders to continue to
hold the funding agreements issued by General American Life Insurance
Company, St. Louis, Missouri.
Please contact me at (412) 288-1412 or Leslie K. Ross at (412) 288-7404
if you would like any further information on this matter.
Very truly yours,
Federated Investment Management Company
By: /s/G. Andrew Bonnewell
G. Andrew Bonnewell
Vice President and Secretary
Federated Investors
Management Co.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
412-288-1900 Phone
www.federatedinvestors.com
August 11, 1999
By FAX and Overnight Mail
Mr. Paul Roye
Director of the Division of Investment Management
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: Money Market Obligations Trust, on behalf of its Automated Cash
Management Trust
("ACMT")
Federated Master Trust ("FMT")
Federated Insurance Series, on behalf of its Federated Prime Money
Fund II ("IFPMF")
Money Market Management ("MMM")
Money Market Trust ("MMT")
Cash Trust Series, Inc., on behalf of its Prime Cash Series
("PCS")
Dear Mr. Roye:
Pursuant to rule 2a-7(c)(6)(iii) of the Investment Company Act of 1940
(the "1940 Act"), Federated Investment Management Company (the
"Adviser"), as investment adviser to the above-referenced, registered,
open-end investment companies (collectively, the "Funds"), hereby
notifies the Commission of: (1) an imminent default with respect to
various funding agreements issued by General American Life Insurance
Company, St. Louis, Missouri ("General American") held by the Funds
(the "Funding Agreements"); and (2) a possible "Event of Insolvency"
of the Funding Agreement' issuer, General American.
At the time of its purchase, each Funding Agreement was a First Tier
Security, as defined by Rule 2a-7 of the 1940 Act (the "Rule"). The
Funds purchased the Funding Agreements in the following amounts:
Fund Principal Amount % of Total Fund Assets
ACMT $122,500,000 5.156%1
PCS $172,000,000 3.763%
FMT $10,000,000 2.538%
MMT $10,000,000 2.433%
MMM $3,500,000 4.311%
IFPMF $2,000,000 1.369%
______________________________
1 At the time of purchase, Funding Agreements comprised less than 5% of
ACMT's total assets. Net redemptions have resulted in ACMT's Funding
Agreements exceeding 5% of its total assets.
Each of the Funding Agreements included a Demand Feature (as defined in the
Rule) that the Funds may exercise upon seven days' notice. On August 4, 1999,
the Funds exercised their Demand Features. On August 9, 1999 the investment
ratings of General American were downgraded so that its Funding Agreements
were no longer Eligible Securities. On August 10, 1999 the Adviser received
information that General American failed to timely repay similar funding
agreements bought by other purchasers who exercised their Demand Features.
Finally, on August 10, 1999 General American requested and received
administrative supervision from the Missouri insurance commissioner, which may
constitute an Event of Insolvency, as defined by the Rule. However, General
American has publicly stated that it has sufficient assets to fulfill its
obligations (including accrued interest) and intends to do so.
As a result of these events, the Executive Committee of the Funds' Board of
Directors ("Executive Committee") convened on August 10, 1999 to discuss the
Adviser's assessment of General American's financial condition. The Adviser
indicated that a loss under the Funding Agreements was unlikely. Moreover,
the Adviser stated that there was minimal risk that, if the funding Agreements
were not paid in full, the loss would exceed the Funds' default insurance
coverage. After consideration of the Adviser's assessment of General
American's financial condition and the amount of insurance coverage available
to the Funds (including the deductible to which the Funds would be subject),
the Executive Committee determined that each Fund could continue to use the
Amortized Cost Method of valuing its shares in accordance with the Rule. The
Executive Committee therefore determined that it would be in the best interest
of the Funds' shareholders to continue to hold the Funding Agreements.
Please contact me at (412) 288-1412 or Leslie K. Ross at (412) 288-7404 if you
would like any further information on this matter.
Very truly yours,
Federated Investment Management Company
By: /s/G. Andrew Bonnewell
G. Andrew Bonnewell
Vice President and Secretary
/jif
cc: Stephen A. Keen, Esq.
Mr. Paul Roye
August 11, 1999
Page 2
Current as of: 8/18/94
Item 77C-Submission Of Matters To A Vote Of Security Holders
LAST MEETING OF SHAREHOLDERS
A special meeting of Shareholders of Money Market Trust (The "Trust"),
a portfolio of Money Market Obligations Trust was held on November 17,
1999. On September 20, 1999, the record date for shareholders voting
at the meeting, there were 388,186,446 total outstanding shares. The
following items were considered by shareholders and the results of
their voting were as follows:
AGENDA ITEM 1
Election of Trustees:*
For
Withheld Authority To
Vote
John F. Cunningham
J. Christopher Donahue
Charles F. Mansfield,
Jr.
John S. Walsh
273,622,230
273,519,174
273,622,230
273,580,818
158,322
261,378
158.322
199,734
J. Christopher Donahue
273,519,174
261,378
\\\\
Charles F. Mansfield,
Jr. 273,622,230
158,322
John S. Walsh
273,580,818
199,734
273,622,230
158,322
John S. Walsh 273,580,818 199,734
* The following Trustees continued their terms as Trustees: John F.
Donahue, Thomas G. Bigley, John T. Conroy, Nicholas P. Constantakis,
Lawrence D. Ellis, M.D., Peter E. Madden, John E. Murray,
Jr.,J.D.,S.J.D. Marjorie P. Smuts.
AGENDA ITEM 2 TO APPROVE AMENDMENTS TO AND A RESTATEMENT OF, THE
TRUST'S DECLARATION OF TRUST:
a. To approve an amendment and restatement of the Trust's Declaration
of Trust to require the approval by a majority of the outstanding
voting shares in the event of the sale or conveyance of the assets of
the Trust to another trust or corporation
Shares Voted
Affirmatively
Shares Voted
Negatively
Shares Abstaining
273,343,321
113,260
288,222
b. To amend and restate the Trust's Declaration of Trust to permit the
Board of Trustees to liquidate assets of the Trust, and distribute
the proceeds of such assets to the holders of such shares
representing such interests, without seeking shareholder approval
Shares Voted Affirmatively Shares Voted Negatively Shares Abstaining
271,713,104 1,690,667 341,032
AGENDA ITEM 3 TO APPROVE A PROPOSED AGREEMENT AND PLAN OF REORGANIZATION
BETWEEN THE TRUST AND MONEY MARKET OBLIGATIONS TRUST, ON BEHALF OF ITS SERIES,
MONEY MARKET TRUST ( THE "NEW FUND") , WHEREBY THE NEW FUND WOULD ACQUIRE ALL
OF THE ASSETS OF THE TRUST IN EXCHANGE FOR SHARES OF THE NEW FUND TO BE
DISTRIBUTED PRO RATA BY THE TRUST TO ITS SHAREHOLERS IN COMPLETE LIQUIDATION
AND TERMINATION OF THE TRUST:
Shares Voted Affirmatively Shares Voted Negatively Shares Abstaining
272,658,60 566,074 520,128
