October 27, 2000
AXP Variable Portfolio - Managed Series, Inc.
200 AXP Financial Center
Minneapolis, Minnesota 55474
Gentlemen:
I have examined the Articles of Incorporation and the By-Laws of AXP Variable
Portfolio - Managed Series, Inc. (the Company) and all necessary certificates,
permits, minute books, documents and records of the Company, and the applicable
statutes of the State of Minnesota, and it is my opinion that the shares sold in
accordance with applicable federal and state securities laws will be legally
issued, fully paid, and nonassessable.
This opinion may be used in connection with the Post-Effective Amendment.
Sincerely,
/s/ Leslie L. Ogg
Leslie L. Ogg
Attorney at Law
901 S. Marquette Ave., Suite 2810
Minneapolis, Minnesota 55402-3268
