GOLDMAN SACHS TRUST
Consent of Sole Shareholder of the
Goldman Sachs Research Select Fund
The undersigned, being the sole shareholder of the Goldman Sachs Research Select
Fund (the "Fund"), a series of Goldman Sachs Trust, a Delaware business trust
(the "Trust"), hereby consents to and takes the following action in writing in
lieu of a meeting:
RESOLVED, that the form, terms and provisions of the
Management Agreement between the Fund and Goldman Sachs Asset Management, dated
April 30, 1997 as amended August 1, 2000, a copy of which has been presented to
the undersigned, be, and hereby are, in all respects approved.
FURTHER RESOLVED, that the investment objective and
fundamental investment restrictions of the Fund as set forth in the Trust's
Prospectus and Statement of Additional Information dated August 1, 2000, be and
hereby are, approved.
Dated: July 28, 2000
THE COLDMAN SACHS GROUP, INC.
By: /S/ David B. Ford
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Name: David B. Ford
Title: Managing Director
