IDS GLOBAL SERIES INC, 485BPOS, 1996-12-23

IDS GLOBAL SERIES INC
485BPOS, 1996-12-23

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<PAGE>
PAGE 1
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

Pre-Effective Amendment No.

Post-Effective Amendment No. 27 (File No. 33-25824) X

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY (ACT OF 1940)

Amendment No. 29 (File No. 811-5696) X

IDS GLOBAL SERIES, INC.
IDS Tower 10, Minneapolis, Minnesota 55440-0010

Leslie L. Ogg - 901 S. Marquette Avenue, Suite 2810,
Minneapolis, MN 55440-3268
(612) 330-9283

Approximate Date of Proposed Public Offering:

It is proposed that this filing will become effective (check
appropriate box)

immediately upon filing pursuant to paragraph (b)
X on December 30, 1996 pursuant to paragraph (b) of rule 485
60 days after filing pursuant to paragraph (a)(i)
on (date) pursuant to paragraph (a)(i) of rule 485
75 days after filing pursuant to paragraph (a)(ii)
on (date) pursuant to paragraph (a)(ii) of rule 485.

If appropriate, check the following box:

This Post-Effective Amendment designates a new effective date
for a previously filed Post-Effective Amendment.

The Registrant has registered an indefinite number or amount of
securities under the Securities Act of 1933 pursuant to Section
24-f of the Investment Company Act of 1940. Registrant's Rule
24f-2 Notice for its most recent fiscal year will be filed on or
about December 30, 1996.

IDS Global Bond Fund and IDS Global Growth Fund, series of the
Registrant, have adopted a master/feeder operating structure. This
Post-Effective Amendment includes a signature page for World Trust,
the master fund.
<PAGE>
PAGE 2
<TABLE><CAPTION>
Cross reference sheet for IDS Global Bond Fund, IDS Global Growth Fund showing the location in each of their prospectuses and
statements of additional information of the information called for by the items enumerated in Parts A and B of Form N-1A.

Negative answers omitted from prospectus are so indicated.

PART A PART B

Section Section in
Item No. in Prospectus Item No. Statement of Additional Information
<S> <C> <S> <C>
1 Cover page of prospectus 10 Cover page of SAI

2(a) Sales charge and Fund expenses 11 Table of Contents
(b) The Fund in brief
(c) The Fund in brief 12 NA

3(a) Financial highlights 13(a) Additional Investment Policies; all
(b) NA appendices except Dollar-Cost Averaging
(c) Performance (b) Additional Investment Policies
(d) Financial highlights (c) Additional Investment Policies
(d) Security Transactions
4(a) The Fund in brief; Investment policies and
risks; How the Fund is organized 14(a) Board members and officers of the Fund;**
(b) Investment policies and risks Board members and officers
(c) Investment policies and risks (b) Board members and Officers
(c) Board members and Officers
5(a) Board members and officers; Board members and
officers of the Fund (listing) 15(a) NA
(b)(i) Investment manager and transfer agent; (b) NA
About American Express Financial (c) Board members and Officers
Corporation -- General Information
(b)(ii) Investment manager 16(a)(i) How the Fund is organized; About American
(b)(iii) Investment manager Express Financial Corporation**
(c) Portfolio manager (a)(ii) Agreements: Investment Management Services
(d) Administrator and transfer agent Agreement, Plan and Supplemental
(e) Administrator and transfer agent Agreement of Distribution
(f) Distributor (a)(iii) Agreements: Investment Management Services Agreement
(g) Investment manager (b) Agreements: Investment Management Services Agreement
About American Express Financial (c) NA
Corporation -- General Information (d) Agreements: Administrative Services
Agreement, Shareholder Service Agreement
5A(a) * (e) NA
(b) * (f) Agreements: Distribution Agreement
(g) NA
6(a) Shares; Voting rights (h) Custodian; Independent Auditors
(b) NA (i) Agreements: Transfer Agency Agreement; Custodian
(c) NA
(d) Voting rights 17(a) Security Transactions
(e) Cover page; Special shareholder services (b) Brokerage Commissions Paid to Brokers Affiliated
(f) Dividends and capital gains distributions; with American Express Financial Corporation
Reinvestments (c) Security Transactions
(g) Taxes (d) Security Transactions
(h) Alternative sales arrangements; Special (e) Security Transactions
considerations regarding master/feeder
structure 18(a) Shares; Voting rights**
(b) NA
7(a) Distributor
(b) Valuing Fund shares 19(a) Investing in the Fund
(c) How to purchase, exchange or redeem shares (b) Valuing Fund Shares; Investing in the Fund
(d) How to purchase shares (c) NA
(e) NA
(f) Distributor 20 Taxes

8(a) How to redeem shares 21(a) Agreements: Distribution Agreement
(b) NA (b) Agreements: Distribution Agreement
(c) How to purchase shares: Three ways to invest (c) NA
(d) How to purchase, exchange or redeem shares:
Redemption policies -- "Important..." 22(a) Performance Information (for money market
funds only)
9 None (b) Performance Information (for all funds except
money market funds)

23 Financial Statements

*Designates information is located in annual report.
**Designates location in prospectus.
/TABLE
<PAGE>
PAGE 3
IDS Global Bond Fund

Prospectus
Dec. 30, 1996

The goal of IDS Global Bond Fund, a part of IDS Global Series,
Inc., is a high total return through income and growth of capital.

The Fund seeks to achieve its goal by investing all of its assets
in World Income Portfolio of World Trust. The Portfolio is a
separate investment company managed by American Express Financial
Corporation that has the same goal as the Fund. This arrangement
is commonly known as a master/feeder structure.

This prospectus contains facts that can help you decide if the Fund
is the right investment for you. Read it before you invest and
keep it for future reference.

Additional facts about the Fund are in a Statement of Additional
Information (SAI), filed with the Securities and Exchange
Commission (SEC) and available for reference, along with other
related materials, on the SEC Internet web site
(http://www.sec.gov). The SAI is incorporated here by reference.
For a free copy, contact American Express Shareholder Service.

Like all mutual fund shares, these securities have not been
approved or disapproved by the Securities and Exchange Commission
or any state securities commission, nor has the Securities and
Exchange Commission or any state securities commission passed upon
the accuracy or adequacy of this prospectus. Any representation to
the contrary is a criminal offense.

Please note that this Fund:

o is not a bank deposit
o is not federally insured
o is not endorsed by any bank or government agency
o is not guaranteed to achieve its goal

American Express Shareholder Service
P.O. Box 534
Minneapolis, MN
55440-0534
612-671-3733
TTY: 800-846-4852
<PAGE>
PAGE 4
Table of contents

The Fund in brief
Goal
Investment policies and risks
Structure of the Fund
Manager and distributor
Portfolio manager
Alternative purchase arrangements

Sales charge and Fund expenses

Performance
Financial highlights
Total returns
Yield

Investment policies and risks
Facts about investments and their risks
Valuing Fund shares

How to purchase, exchange or redeem shares
Alternative purchase arrangements
How to purchase shares
How to exchange shares
How to redeem shares
Reductions and waivers of the sales charge

Special shareholder services
Services
Quick telephone reference

Distributions and taxes
Dividend and capital gain distributions
Reinvestments
Taxes
How to determine the correct TIN

How the Fund and Portfolio are organized
Shares
Voting rights
Shareholder meetings
Special considerations regarding master/feeder structure
Board members and officers
Investment manager
Administrator and transfer agent
Distributor

About American Express Financial Corporation
General information

Appendices
Description of corporate bond ratings
Descriptions of derivative instruments
<PAGE>
PAGE 5
The Fund in brief

Goal

IDS Global Bond Fund (the Fund) seeks to provide shareholders with
high total return through income and growth of capital. It does so
by investing all of its assets in World Income Portfolio (the
Portfolio) of World Trust (the Trust). Both the Fund and the
Portfolio are non-diversified investment companies that have the
same goal. Because any investment involves risk, achieving this
goal cannot be guaranteed. The goal can be changed only by holders
of a majority of outstanding securities.

The Fund may withdraw its assets from the Portfolio at any time if
the board determines that it is in the best interests of the Fund
to do so. In that event, the Fund would consider what action
should be taken, including whether to retain an investment advisor
to manage the Fund's assets directly or to reinvest all of the
Fund's assets in another pooled investment entity.

Investment policies and risks

Both the Fund and Portfolio have the same investment policies.
Accordingly, the Portfolio invests primarily in debt securities of
U.S. and foreign issuers. The Portfolio also may invest in common
and preferred stocks, derivative instruments and money market
instruments.

Risks arising from investments in foreign securities include
fluctuations in currency exchange rates, adverse political and
economic developments and lack of comparable regulatory
requirements applicable to U.S. companies. Non-diversified mutual
funds may have more market risk than funds that have broader
diversification. You should invest in the Fund only if you are
willing to assume such risks.

Structure of the Fund

This Fund uses what is commonly known as a master/feeder structure.
This means it is a feeder fund that invests all of its assets in
the Portfolio that is its master fund. The Portfolio actually
invests in and manages the securities and has the same goal and
investment policies as the Fund. This structure is described in
more detail in the section captioned "Special considerations
regarding master/feeder structure." Here is an illustration of the
structure:

Investors buy
shares in the Fund

The Fund invests
in the Portfolio

The Portfolio invests
in securities, such
as stocks or bonds

<PAGE>
PAGE 6
Manager and distributor

The Portfolio is managed by American Express Financial Corporation
(AEFC), a provider of financial services since 1894. AEFC
currently manages more than $55 billion in assets for the IDS
MUTUAL FUND GROUP. Shares of the Fund are sold through American
Express Financial Advisors Inc., a wholly owned subsidiary of AEFC.

Portfolio manager

Ray Goodner joined AEFC in 1977 and serves as vice president and
senior portfolio manager. He has managed the assets of the Fund
since 1989 and serves as portfolio manager of the Portfolio. He
also serves as portfolio manager of Quality Income Portfolio and
IDS Life Global Yield Fund.

Alternative purchase arrangements

The Fund offers its shares in three classes. Class A shares are
subject to a sales charge at the time of purchase. Class B shares
are subject to a contingent deferred sales charge (CDSC) on
redemptions made within six years of purchase and an annual
distribution (12b-1) fee. Class Y shares are sold without a sales
charge to qualifying institutional investors.

Sales charge and Fund expenses

Shareholder transaction expenses are incurred directly by an
investor on the purchase or redemption of Fund shares. Fund
operating expenses are paid out of Fund assets for each class of
shares and include expenses charged by both the Fund and the
Portfolio. Operating expenses are reflected in the Fund's daily
share price and dividends, and are not charged directly to
shareholder accounts.

Shareholder transaction expenses
Class A Class B Class Y
Maximum sales charge on purchases*
(as a percentage of offering price).......5% 0% 0%
Maximum deferred sales charge
imposed on redemptions (as a
percentage of original purchase price)....0% 5% 0%

Annual Fund and allocated Portfolio operating expenses
(as a percentage of average daily net assets):

Class A Class B Class Y
Management fee** 0.75% 0.75% 0.75%
12b-1 fee 0.60% 0.75% 0.00%
Other expenses*** 0.45% 0.46% 0.26%
Total**** 1.20% 1.96% 1.01%

*This charge may be reduced depending on your total investments in
IDS funds. See "Reductions of the sales charge."
**The management fee is paid by the Trust on behalf of the
Portfolio.

<PAGE>
PAGE 7
***Other expenses include an administrative services fee, a
shareholder services fee for Class A and Class B, a transfer agency
fee and other non-advisory expenses.
****The Fund changed to a master/feeder structure on May 13, 1996.
The board considered whether the aggregate expenses of the Fund and
the Portfolio would be more or less than if the Fund invested
directly in the type of securities being held by the Portfolio.
AEFC has agreed to pay the small additional costs required to use a
master/feeder structure to manage the investment portfolio during
the first year of its operation and half of such costs in the
second year, approximately $8,000 in year one and $3,800 in year
two. These additional costs may be more than offset in subsequent
years if the assets being managed increase.

Example: Suppose for each year for the next 10 years, Fund
expenses are as above and annual return is 5%. If you sold your
shares at the end of the following years, for each $1,000 invested,
you would pay total expenses of:

1 year 3 years 5 years 10 years
Class A $62 $86 $113 $189
Class B $70 $102 $126 $209**
Class B* $20 $62 $106 $209**
Class Y $10 $32 $56 $124

*Assuming Class B shares are not redeemed at the end of the period.
**Based on conversion of Class B shares to Class A shares after
eight years.

This example does not represent actual expenses, past or future.
Actual expenses may be higher or lower than those shown. Because
Class B pays annual distribution (12b-1) fees, long-term
shareholders of Class B may indirectly pay an equivalent of more
than a 6.25% sales charge, the maximum permitted by the National
Association of Securities Dealers.

Performance

Financial highlights
<TABLE><CAPTION>
Fiscal period ended Oct. 31,
Per share income and capital changes*

Class A

1996 1995 1994 1993 1992 1991 1990 1989**
<S> <C> <C> <C> <C> <C> <C>
Net asset value,
beginning of period $6.11 $5.76 $6.27 $5.91 $5.58 $5.46 $5.22 $5.00

Income from investment operations:
Net investment income .38 .35 .36 .26 .33 .50 .40 .12

Net gains (losses)
(both realized and unrealized) .18 .41 (.45) .62 .47 .12 .27 .22

Total from investment operations .56 .76 (.09) .88 .80 .62 .67 .34

Less distributions:

Dividends from net investment income (.39) (.33) (.35) (.27) (.30) (.50) (.40) (.12)

Distributions from realized gains -- (.02) (.07) (.10) (.06) -- (.03) --

Excess distributions of realized gains -- (.06) -- (.15) (.11) -- -- --<PAGE>
PAGE 8
Total distributions (.39) (.41) (.42) (.52) (.47) (.50) (.43) (.12)

Net asset value,
end of period $6.28 $6.11 $5.76 $6.27 $5.91 $5.58 $5.46 $5.22

Ratios/supplemental data

Class A

1996 1995 1994 1993 1992 1991 1990 1989**
Net assets, end of
period (in millions) $689 $548 $466 $255 $91 $50 $28 $11

Ratio of expenses to
average daily net assets*** 1.20% 1.25% 1.26% 1.31% 1.39% 1.34% 1.73%## 1.00%#

Ratio of net income to
average daily net assets 5.72% 6.15% 5.56% 5.11% 6.50% 7.15% 10.60%## 7.04%#+

Portfolio turnover rate (excluding short-term
securities) for the underlying Portfolio 49% 92% 64% 90% 160% 123% 130% 91%

Total return++ 8.9% 13.6% (1.5%) 15.8% 14.8% 11.9% 13.3% 6.7%

*For a share outstanding throughout the period. Rounded to the nearest cent.
**Inception date. Period from March 20, 1989 to Oct. 31, 1989.
***Effective fiscal year 1996, expense ratio is based on total expenses of the Fund before reduction of earnings credits
on cash balances.
+Adjusted to an annual basis.
++Total return does not reflect payment of a sales charge.
#During the period from March 20, 1989 to Oct. 31, 1989, AEFC reimbursed the Fund for expenses in excess of 1% of daily
net assets. Has AEFC not done so, the ratio of expenses and ratio of net investment income would have been 1.77% and 5.77%,
respectively.
##For the nine months ended July 31, 1990, AEFC voluntarily reimbursed the Fund for a portion of its expenses. Had AEFC not
done so, the ratio of expenses and ratio of net investment income would have been 1.87% and 10.46%, respectively. <PAGE>
PAGE 9
Performance
Financial highlights

Fiscal period ended Oct. 31,
Per share income and capital changes*

Class B Class Y

1996 1995** 1996 1995**
Net asset value,
beginning of period $6.11 $5.74 $6.11 $5.74

Income from investment operations:

Net investment income .33 .24 .29 .27

Net gains on securities (both
realized and unrealized) .18 .41 .20 .41

Total from investment operations .51 .65 .49 .68

Less distributions:

Dividends from net investment income (.33) (.24) (.30) (.27)

Excess distributions of
realized gains -- (.04) -- (.04)

Total distributions (.33) (.28) (.30) (.31)

Net asset value,
end of period $6.28 $6.11 $6.30 $6.11

Ratios/supplemental data

Class B Class Y

1996 1995** 1996# 1995**
Net assets, end of
period (in millions) $141 $37 $-- $2

Ratio of expenses to
average daily net assets*** 1.96% 2.05%+ 1.01% 1.10%+

Ratio of net income to
average daily net assets 4.96% 5.88%+ 6.06% 6.68%+

Portfolio turnover rate (excluding short-term 49% 92% 49% 92%
securities) for the underlying portfolio

Total Return++ 8.1% 11.5% 7.3% 12.0%

*For a share outstanding throughout the period. Rounded to the nearest cent.
**Inception date was March 20, 1995 for Class B and Class Y.
***Effective fiscal year 1996, expense ratio is based on total expenses of the Fund before
reduction of earnings credits on cash balances.
+Adjusted to an annual basis.
++Total return does not reflect payment of a sales charge.
#Periods from Nov. 1, 1995 to Nov. 20, 1995 and from Dec. 4, 1995 to Oct 31, 1996 . From
Nov. 20, 1995 to Dec. 4, 1995 there were no Class Y shares outstanding.
</TABLE>
The information in these tables has been audited by KPMG Peat
Marwick LLP, independent auditors. The independent auditors'
report and additional information about the performance of the Fund
are contained in the Fund's annual report which, if not included
with this prospectus, may be obtained without charge.

Total returns

Total return is the sum of all of your returns for a given period,
assuming you reinvest all distributions. It is calculated by
taking the total value of shares you own at the end of the period
(including shares acquired by reinvestment), less the price of
shares you purchased at the beginning of the period.<PAGE>
PAGE 10
Average annual total return is the annually compounded rate of
return over a given time period (usually two or more years). It is
the total return for the period converted to an equivalent annual
figure.

Average annual total returns as of Oct. 31, 1996

Purchase 1 year 5 years Since
made ago ago inception
Global Bond:
Class A* +3.50% +9.00% +10.09%
Class B** +4.14% --% +9.75%
Class Y** +9.20% --% +13.24%

Salomon Brothers
Global Govt. Bond
Composite Index +5.36% +9.91% +10.17%#

Lipper Global
Income Fund
Index +11.74% +7.83% +8.92%#

*Inception date was April 1, 1989.
**Inception date was March 20, 1995.
#Measurement period started April 1, 1989.

Cumulative total returns as of Oct. 31, 1996

Purchase 1 year 5 years Since
made ago ago inception
Global Bond:
Class A* +3.50% +53.93% +108.12%
Class B** +4.14% --% +16.37%
Class Y** +9.20% --% +22.30%

Salomon Brothers
Global Govt. Bond
Composite Index +5.36% +60.41% +108.88%#

Lipper Global
Income Fund
Index +11.74% +45.78% +91.40%#

*Inception date was April 1, 1989.
**Inception date was March 20, 1995.
#Measurement period started April 1, 1989.

These examples show total returns from hypothetical investments in
Class A, Class B and Class Y shares of the Fund. These returns are
compared to those of popular indexes for the same periods. The
performance of Class B and Class Y will vary from the performance
of Class A based on differences in sales charges and fees. March
20, 1995 was the inception date for Class B and Class Y. Past
performance for Class Y for the periods prior to March 20, 1995 may
be calculated based on the performance of Class A, adjusted to
reflect differences in sales charges although not for other
differences in expenses.
<PAGE>
PAGE 11
For purposes of calculation, information about the Fund assumes:
o a sales charge of 5% for Class A shares
o redemption at the end of the period and deduction of the
applicable contingent deferred sales charge for Class B shares
o no sales charge for Class Y shares
o no adjustments for taxes an investor may have paid on the
reinvested income and capital gains
o a period of widely fluctuating securities prices. Returns
shown should not be considered a representation of the Fund's
future performance.

Salomon Brothers Global Government Bond Composite Index is an
unmanaged index made up of a representative list of government
bonds of 17 countries throughout the world. The index is a general
measure of government bond performance. Performance is expressed
in the U.S. dollar as well as the currencies of governments making
up the index. The bonds included in the index may not be the same
as those in the Fund. The index reflects reinvestment of all
distributions and changes in market prices, but excludes brokerage
commissions or other fees.

Lipper Global Income Fund Index, an unmanaged index published by
Lipper Analytical Services, Inc., includes 30 funds that are
generally similar to the Fund, although some funds in the index may
have somewhat different investment policies or objectives.

Yield

Yield is the net investment income earned per share for a specified
time period, divided by the offering price at the end of the
period. The Fund's annualized yield for the 30-day period ended
Oct. 31, 1996, was 5.53% for Class A, 5.06% for Class B and 6.24%
for Class Y. The Fund calculates this 30-day annualized yield by
dividing:

o net investment income per share deemed earned during a 30-day
period by

o the public offering price per share on the last day of the
period, and

o converting the result to a yearly equivalent figure.

This yield calculation does not include any contingent deferred
sales charge, ranging from 5% to 0% on Class B shares, which would
reduce the yield quoted.

The Fund's yield varies from day to day, mainly because share
values and offering prices (which are calculated daily) vary in
response to changes in interest rates. Net investment income
normally changes much less in the short run. Thus, when interest
rates rise and share values fall, yield tends to rise. When
interest rates fall, yield tends to follow.

Past yields should not be considered an indicator of future yields.

<PAGE>
PAGE 12
Investment policies and risks

The policies described below apply both to the Fund and the
Portfolio. The Portfolio invests primarily in debt securities of
U.S. and foreign issuers so under normal market conditions at least
80% of the Portfolio's net assets will be investment-grade
corporate or government debt securities including money market
instruments of issuers located in at least three different
countries.

The Portfolio also invests in debt securities below investment
grade, convertible securities, common stocks and derivative
instruments.

The various types of investments the portfolio manager uses to
achieve investment performance are described in more detail in the
next section and in the SAI.

Facts about investments and their risks

The price of bonds below investment grade may react more to the
ability of the issuing company to pay interest and principal when
due than to changes in interest rates. They have greater price
fluctuations, are more likely to experience a default, and
sometimes are referred to as junk bonds. Reduced market liquidity
for these bonds may occasionally make it more difficult to value
them. In valuing bonds, the Portfolio relies both on independent
rating agencies and the investment manager's credit analysis. The
Portfolio may not purchase securities rated lower than B by Moody's
Investors Service, Inc. (Moody's) or Standard & Poor's Corporation
(S&P). Securities that are subsequently downgraded in quality may
continue to be held by the Portfolio and will be sold only when the
investment manager believes it is advantageous to do so.

Bond ratings and holdings for fiscal 1996
<TABLE><CAPTION>

Percent of
S&P Rating Protection of net assets in
Percent of (or Moody's principal and unrated securities
net assets equivalent) interest assessed by AEFC
<S> <C> <C> <C>
40.90% AAA Highest quality 0.36%
10.96 AA High quality --
5.94 A Upper medium grade --
4.58 BBB Medium grade --
8.85 BB Moderately speculative --
2.01 B Speculative --
-- CCC Highly speculative --
-- CC Poor quality --
-- C Lowest quality --
-- D In default --
1.10 Unrated Unrated securities 0.74
</TABLE>
The table above excludes money market instruments, which are
considered investment grade securities.

<PAGE>
PAGE 13

(See the Appendix to this prospectus describing corporate bond
ratings for further information.)

Debt securities sold at a deep discount: Some bonds are sold at
deep discounts because they do not pay interest until maturity.
They include zero coupon bonds and PIK (pay-in-kind) bonds. To
comply with tax laws, the Portfolio has to recognize a computed
amount of interest income and pay dividends to shareholders even
though no cash has been received. In some instances, the Portfolio
may have to sell securities to have sufficient cash to pay the
dividends.

Convertible securities: These securities generally are preferred
stocks or bonds that can be exchanged for other securities, usually
common stock, at prestated prices. When the trading price of the
common stock makes the exchange likely, convertible securities
trade more like common stock.

Foreign investments: Securities of foreign companies and
governments may be traded in the United States, but often they are
traded only on foreign markets. Frequently, there is less
information about foreign companies and less government supervision
of foreign markets. Foreign investments are subject to currency
fluctuations and political and economic risks of the countries in
which the investments are made, including the possibility of
seizure or nationalization of companies, imposition of withholding
taxes on income, establishment of exchange controls or adoption of
other restrictions that might affect an investment adversely. If
an investment is made in a foreign market, the local currency may
be purchased using a forward contract in which the price of the
foreign currency in U.S. dollars is established on the date the
trade is made, but delivery of the currency is not made until the
securities are received. As long as the Portfolio holds foreign
currencies or securities valued in foreign currencies, the value of
those assets will be affected by changes in the value of the
currencies relative to the U.S. dollar. Because of the limited
trading volume in some foreign markets, efforts to buy or sell a
security may change the price of the security, and it may be
difficult to complete the transaction. The limited liquidity and
price fluctuations in emerging markets could make investments in
developing countries more volatile. In addition, the Portfolio may
have limited legal recourse in the event a sovereign government is
unwilling or unable to pay its debt.

Diversification: Since the Portfolio is a non-diversified mutual
fund, it may concentrate its investments in securities of fewer
issuers than would a diversified fund. Accordingly, the Portfolio
may have more risk than mutual funds that have broader
diversification.
<PAGE>
PAGE 14
Derivative instruments: The portfolio manager may use derivative
instruments in addition to securities to achieve investment
performance. Derivative instruments include futures, options and
forward contracts. Such instruments may be used to maintain cash
reserves while remaining fully invested, to offset anticipated
declines in values of investments, to facilitate trading, to reduce
transaction costs or to pursue higher investment returns.
Derivative instruments are characterized by requiring little or no
initial payment and a daily change in price based on or derived
from a security, a currency, a group of securities or currencies,
or an index. A number of strategies or combination of instruments
can be used to achieve the desired investment performance
characteristics. A small change in the value of the underlying
security, currency or index will cause a sizable gain or loss in
the price of the derivative instrument. Derivative instruments
allow the portfolio manager to change the investment performance
characteristics very quickly and at lower costs. Risks include
losses of premiums, rapid changes in prices, defaults by other
parties and inability to close such instruments. The Portfolio
will use derivative instruments only to achieve the same investment
performance characteristics it could achieve by directly holding
those securities and currencies permitted under the investment
policies. The Portfolio will designate cash or appropriate liquid
assets to cover its portfolio obligations. No more than 5% of the
Portfolio's net assets can be used at any one time for good faith
deposits on futures and premiums for options on futures that do not
offset existing investment positions. This does not, however,
limit the portion of the Portfolio's assets at risk to 5%. The
Portfolio is not limited as to the percentage of its assets that
may be invested in permissible investments, including derivatives,
except as otherwise explicitly provided in this prospectus or the
SAI. For descriptions of these and other types of derivative
instruments, see the Appendix to this prospectus and the SAI.

Securities and other instruments that are illiquid: A security or
other instrument is illiquid if it cannot be sold quickly in the
normal course of business. Some investments cannot be resold to
the U.S. public because of their terms or government regulations.
Securities and instruments, however, can be sold in private sales,
and many may be sold to other institutions and qualified buyers or
on foreign markets. The portfolio manager will follow guidelines
established by the board and consider relevant factors such as the
nature of the security and the number of likely buyers when
determining whether a security is illiquid. No more than 10% of
the Portfolio's net assets will be held in securities and other
instruments that are illiquid.

Money market instruments: Short-term debt securities rated in the
top two grades or the equivalent are used to meet daily cash needs
and at various times to hold assets until better investment
opportunities arise. Generally, less than 25% of the Portfolio's
total assets are in these money market instruments. However, for
temporary defensive purposes these investments could exceed that
amount for a limited period of time.

The investment policies described above may be changed by the
boards.<PAGE>
PAGE 15
Lending portfolio securities: The Portfolio may lend its
securities to earn income so long as borrowers provide collateral
equal to the market value of the loans. The risks are that
borrowers will not provide collateral when required or return
securities when due. Unless a majority of the outstanding voting
securities approve otherwise, loans may not exceed 30% of the
Portfolio's net assets.

Valuing Fund shares

The public offering price is the net asset value (NAV) adjusted for
the sales charge for Class A. It is the NAV for Class B and Class
Y.

The NAV is the value of a single Fund share. The NAV usually
changes daily, and is calculated at the close of business, normally
3 p.m. Central time, each business day (any day the New York Stock
Exchange is open). (NAV generally declines as interest rates
increase and rises as interest rates decline.)

To establish the net assets, all securities held by the Portfolio
are valued as of the close of each business day. In valuing
assets:

o Securities (except bonds) and assets with available market
values are valued on that basis.

o Securities maturing in 60 days or less are valued at amortized
cost.

o Bonds and assets without readily available market values are
valued according to methods selected in good faith by the
board.

o Assets and liabilities denominated in foreign currencies are
translated daily into U.S. dollars at a rate of exchange set
as near to the close of the day as practicable.

How to purchase, exchange or redeem shares

Alternative purchase arrangements

The Fund offers three different classes of shares - Class A, Class
B and Class Y. The primary differences among the classes are in
the sales charge structures and in their ongoing expenses. These
differences are summarized in the table below. You may choose the
class that best suits your circumstances and objectives.
<TABLE><CAPTION>

Sales charge and
distribution
(12b-1) fee Service fee Other information
<S> <C> <C> <C>
Class A Maximum initial 0.175% of average Initial sales charge
sales charge of daily net assets waived or reduced
5%; no 12b-1 fee for certain purchases

<PAGE>
PAGE 16
Class B No initial sales 0.175% of average Shares convert to
charge; maximum CDSC daily net assets Class A after eight
of 5% declines to 0% years; CDSC waived in
after six years; 12b-1 certain circumstances
fee of 0.75% of average
daily net assets

Class Y None None Available only to
certain qualifying
institutional
investors
</TABLE>
Conversion of Class B shares to Class A shares - Eight calendar
years after Class B shares are purchased, Class B shares will
convert to Class A shares and will no longer be subject to a
distribution fee. The conversion will be on the basis of relative
net asset values of the two classes, without the imposition of any
sales charge. Class B shares purchased through reinvested
dividends and distributions will convert to Class A shares in the
same pro rata portion as other Class B shares.

Considerations in determining whether to purchase Class A or Class
B shares - You should consider the information below in determining
whether to purchase Class A or Class B shares. The distribution
fee (included in "Ongoing expenses") and sales charges are
structured so that you will have approximately the same total
return at the end of eight years regardless of which class you
chose.

Sales charges on purchase or redemption

If you purchase Class A If you purchase Class B
shares shares

o You will not have all o All of your money is
of your purchase price invested in shares of
invested. Part of your stock. However, you will
purchase price will go pay a sales charge if you
to pay the sales charge. redeem your shares within
You will not pay a sales six years of purchase.
charge when you redeem
your shares.

o You will be able to o No reductions of the
take advantage of sales charge are
reductions in the sales available for large
charge. purchases.

If your investments in IDS funds that are subject to a sales charge
total $250,000 or more, you are better off paying the reduced sales
charge in Class A than paying the higher fees in Class B. If you
qualify for a waiver of the sales charge, you should purchase Class
A shares.

<PAGE>
PAGE 17
Ongoing expenses

If you purchase Class A If you purchase Class B
shares shares

o Your shares will have o The distribution and
a lower expense ratio transfer agency fees for
than Class B shares Class B will cause your
because Class A does not shares to have a higher
pay a distribution fee expense ratio and to pay
and the transfer agency lower dividends than fee
for Class A is lower Class A shares. After
than the fee for Class B. eight years, Class B
As a result, Class A shares shares will convert to
will pay higher dividends Class A shares and you
than Class B shares. will no longer be
subject to higher fees.

You should consider how long you plan to hold your shares and
whether the accumulated higher fees and CDSC on Class B shares
prior to conversion would be less than the initial sales charge on
Class A shares. Also consider to what extent the difference would
be offset by the lower expenses on Class A shares. To help you in
this analysis, the example in the "Sales charge and Fund expenses"
section of the prospectus illustrates the charges applicable to
each class of shares.

Class Y shares - Class Y shares are offered to certain
institutional investors. Class Y shares are sold without a front-
end sales charge or a CDSC and are not subject to either a service
fee or a distribution fee. The following investors are eligible to
purchase Class Y shares:

o Qualified employee benefit plans* if the plan:
- uses a daily transfer recordkeeping service offering
participants daily access to IDS funds and has
- at least $10 million in plan assets or
- 500 or more participants; or
- does not use daily transfer recordkeeping and has
- at least $3 million invested in funds of the IDS MUTUAL FUND
GROUP or
- 500 or more participants.

o Trust companies or similar institutions, and charitable
organizations that meet the definition in Section 501(c)(3) of
the Internal Revenue Code.* These must have at least $10
million invested in funds of the IDS MUTUAL FUND GROUP.

o Nonqualified deferred compensation plans* whose participants are
included in a qualified employee benefit plan described above.

* Eligibility must be determined in advance by American Express
Financial Advisors. To do so, contact your financial advisor.

<PAGE>
PAGE 18
How to purchase shares

If you're investing in this Fund for the first time, you'll need to
set up an account. Your financial advisor will help you fill out
and submit an application. Once your account is set up, you can
choose among several convenient ways to invest.

Important: When opening an account, you must provide AEFC with
your correct Taxpayer Identification Number (Social Security or
Employer Identification number). See "Distributions and taxes."

When you purchase shares for a new or existing account, the price
you pay per share is determined at the close of business on the day
your investment is received and accepted at the Minneapolis
headquarters.

Purchase policies:

o Investments must be received and accepted in the Minneapolis
headquarters on a business day before 3 p.m. Central time to be
included in your account that day and to receive that day's
share price. Otherwise your purchase will be processed the next
business day and you will pay the next day's share price.

o The minimums allowed for investment may change from time to
time.

o Wire orders can be accepted only on days when your bank, AEFC,
the Fund and Norwest Bank Minneapolis are open for business.

o Wire purchases are completed when wired payment is received and
the Fund accepts the purchase.

o AEFC and the Fund are not responsible for any delays that occur
in wiring funds, including delays in processing by the bank.

o You must pay any fee the bank charges for wiring.

o The Fund reserves the right to reject any application for any
reason.

o If your application does not specify which class of shares you
are purchasing, it will be assumed that you are investing in
Class A shares.
<TABLE><CAPTION>
Three ways to invest

1
<S> <C> <C>
By regular account Send your check and application Minimum amounts
(or your name and account number Initial investment: $2,000
if you have an established account) Additional
to: investments: $ 100
American Express Financial Advisors Inc. Account balances: $ 300*
P.O. Box 74 Qualified retirement
Minneapolis, MN 55440-0074 accounts: none

Your financial advisor will help
you with this process.

<PAGE>
PAGE 19
2
By scheduled Contact your financial advisor Minimum amounts
investment plan to set up one of the following Initial investment: $100
scheduled plans: Additional
investments: $100/mo.
o automatic payroll deduction Account balances: none
(on active plans of
o bank authorization monthly payments)

o direct deposit of
Social Security check

o other plan approved by the Fund

3
By wire If you have an established account, If this information is not
you may wire money to: included, the order may be
rejected and all money
Norwest Bank Minneapolis received by the Fund, less
Routing No. 091000019 any costs the Fund or AEFC
Minneapolis, MN incurs, will be returned
Attn: Domestic Wire Dept. promptly.

Give these instructions: Minimum amounts
Credit IDS Account #00-30-015 Each wire investment: $1,000
for personal account # (your
account number) for (your name).

*If your account balance falls below $300, you will be asked in writing to bring it up to $300 or establish a scheduled investment
plan. If you don't do so within 30 days, your shares can be redeemed and the proceeds mailed to you.
</TABLE>
How to exchange shares

You can exchange your shares of the Fund at no charge for shares of
the same class of any other publicly offered fund in the IDS MUTUAL
FUND GROUP available in your state. Exchanges into IDS Tax-Free
Money Fund must be made from Class A shares. For complete
information, including fees and expenses, read the prospectus
carefully before exchanging into a new fund.

If your exchange request arrives at the Minneapolis headquarters
before the close of business, your shares will be redeemed at the
net asset value set for that day. The proceeds will be used to
purchase new fund shares the same day. Otherwise, your exchange
will take place the next business day at that day's net asset
value.

For tax purposes, an exchange represents a redemption and purchase
and may result in a gain or loss. However, you cannot create a tax
loss (or reduce a taxable gain) by exchanging from the Fund within
91 days of your purchase. For further explanation, see the SAI.

How to redeem shares

You can redeem your shares at any time. American Express
Shareholder Service will mail payment within seven days after
receiving your request.

When you redeem shares, the amount you receive may be more or less
than the amount you invested. Your shares will be redeemed at net
asset value, minus any applicable sales charge, at the close of
business on the day your request is accepted at the Minneapolis
headquarters. If your request arrives after the close of business,
<PAGE>
PAGE 20
the price per share will be the net asset value, minus any
applicable sales charge, at the close of business on the next
business day.

A redemption is a taxable transaction. If your proceeds from your
redemption are more or less than the cost of your shares, you will
have a gain or loss, which can affect your tax liability.
Redeeming shares held in an IRA or qualified retirement account may
subject you to certain federal taxes, penalties and reporting
requirements. Consult your tax advisor.

<TABLE><CAPTION>
Two ways to request an exchange or redemption of shares

1
<S> <C>
By letter Include in your letter:
o the name of the fund(s)
o the class of shares to be exchanged or redeemed
o your account number(s) (for exchanges, both funds must be registered in the same
ownership)
o your Taxpayer Identification Number (TIN)
o the dollar amount or number of shares you want to exchange or redeem
o signature of all registered account owners
o for redemptions, indicate how you want your money delivered to you
o any paper certificates of shares you hold

Regular mail:
American Express Shareholder Service
Attn: Redemptions
P.O. Box 534
Minneapolis, MN 55440-0534

Express mail:
American Express Shareholder Service
Attn: Redemptions
733 Marquette Ave.
Minneapolis, MN 55402

2
By phone
American Express Telephone o The Fund and AEFC will honor any telephone exchange or redemption request believed to be
Transaction Service: authentic and will use reasonable procedures to confirm that they are. This includes
800-437-3133 or asking identifying questions and tape recording calls. If reasonable
612-671-3800 procedures are not followed, the Fund or AEFC will be liable for any loss resulting from
fraudulent requests.
o Phone exchange and redemption privileges automatically apply to all accounts except
custodial, corporate or qualified retirement accounts unless you request these privileges
NOT apply by writing American Express Shareholder Service. Each registered owner must sign
the request.
o AEFC answers phone requests promptly, but you may experience delays when call volume is
high. If you are unable to get through, use mail procedure as an alternative.
o Acting on your instructions, your financial advisor may conduct telephone transactions on
your behalf.
o Phone privileges may be modified or discontinued at any time.

Minimum amount
Redemption: $100

Maximum amount
Redemption: $50,000
</TABLE>
Exchange policies:

o You may make up to three exchanges within any 30-day period,
with each limited to $300,000. These limits do not apply to
scheduled exchange programs and certain employee benefit plans or
other arrangements through which one shareholder represents the
interests of several. Exceptions may be allowed with pre-approval
of the Fund.<PAGE>
PAGE 21
o Exchanges must be made into the same class of shares of the new
fund.

o If your exchange creates a new account, it must satisfy the
minimum investment amount for new purchases.

o Once we receive your exchange request, you cannot cancel it.

o Shares of the new fund may not be used on the same day for
another exchange.

o If your shares are pledged as collateral, the exchange will be
delayed until written approval is obtained from the secured party.

o AEFC and the Fund reserve the right to reject any exchange,
limit the amount, or modify or discontinue the exchange privilege,
to prevent abuse or adverse effects on the Fund and its
shareholders. For example, if exchanges are too numerous or too
large, they may disrupt the Fund's investment strategies or
increase its costs.

Redemption policies:

o A "change of mind" option allows you to change your mind after
requesting a redemption and to use all or part of the proceeds to
purchase new shares in the same account from which you redeemed.
If you reinvest in Class A, you will purchase the new shares at net
asset value rather than the offering price on the date of a new
purchase. If you reinvest in Class B, any CDSC you paid on the
amount you are reinvesting also will be reinvested. To take
advantage of this option, send a written request within 30 days of
the date your redemption request was received. Include your
account number and mention this option. This privilege may be
limited or withdrawn at any time, and it may have tax consequences.

o A telephone redemption request will not be allowed within 30
days of a phoned-in address change.

Important: If you request a redemption of shares you recently
purchased by a check or money order that is not guaranteed, the
Fund will wait for your check to clear. It may take up to 10 days
from the date of purchase before a check is mailed to you. (A
check may be mailed earlier if your bank provides evidence
satisfactory to the Fund and AEFC that your check has cleared.)
<TABLE><CAPTION>
Three ways to receive payment when you redeem shares

1
<S> <C>
By regular or express mail o Mailed to the address on record.
o Payable to names listed on the account.

NOTE: The express mail delivery charges
you pay will vary depending on the
courier you select.

2
By wire o Minimum wire redemption: $1,000.
o Request that money be wired to your bank.
o Bank account must be in the same
ownership as the IDS fund account.
<PAGE>
PAGE 22
NOTE: Pre-authorization required. For
instructions, contact your financial
advisor or American Express Shareholder Service.

o Purchasing new shares while under a payout
plan may be disadvantageous because of
the sales charges.
</TABLE>
Reductions and waivers of the sales charge
Class A - initial sales charge alternative

On purchases of Class A shares, you pay a 5% sales charge on the
first $50,000 of your total investment and less on investments
after the first $50,000:

Total investment Sales charge as a
percent of:*

Public Net
offering amount
price invested

Up to $50,000 5.0% 5.26%
Next $50,000 4.5 4.71
Next $400,000 3.8 3.95
Next $500,000 2.0 2.04
$1,000,000 or more 0.0 0.00

* To calculate the actual sales charge on an investment greater
than $50,000 and less than $1,000,000, amounts for each applicable
increment must be totaled. See the SAI.

Reductions of the sales charge on Class A shares

Your sales charge may be reduced, depending on the totals of:

o the amount you are investing in this Fund now,

o the amount of your existing investment in this Fund, if any, and

o the amount you and your primary household group are investing or
have in other funds in the IDS MUTUAL FUND GROUP that carry a sales
charge. (The primary household group consists of accounts in any
ownership for spouses or domestic partners and their unmarried
children under 21. Domestic partners are individuals who maintain
a shared primary residence and have joint property or other
insurable interests.)

Other policies that affect your sales charge:

o IDS Tax-Free Money Fund and Class A shares of IDS Cash
Management Fund do not carry sales charges. However, you may count
investments in these funds if you acquired shares in them by
exchanging shares from IDS funds that carry sales charges.<PAGE>
PAGE 23
o IRA purchases or other employee benefit plan purchases made
through a payroll deduction plan or through a plan sponsored by an
employer, association of employers, employee organization or other
similar entity, may be added together to reduce sales charges for
all shares purchased through that plan.

o If you intend to invest $1 million over a period of 13 months,
you can reduce the sales charges in Class A by filing a letter of
intent.

For more details, see the SAI.

Waivers of the sales charge for Class A shares

Sales charges do not apply to:

o Current or retired board members, officers or employees of the
Fund or AEFC or its subsidiaries, their spouses and unmarried
children under 21.

o Current or retired American Express financial advisors, their
spouses and unmarried children under 21.

o Qualified employee benefit plans* using a daily transfer
recordkeeping system offering participants daily access to IDS
funds.

(Participants in certain qualified plans for which the initial
sales charge is waived may be subject to a deferred sales charge of
up to 4% on certain redemptions. For more information, see the
SAI.)

o Shareholders who have at least $1 million invested in funds of
the IDS MUTUAL FUND GROUP. If the investment is redeemed in the
first year after purchase, a CDSC of 1% will be charged on the
redemption.

o Purchases made within 30 days after a redemption of shares (up
to the amount redeemed):

- of a product distributed by American Express Financial
Advisors in a qualified plan subject to a deferred sales
charge or
- in a qualified plan where American Express Trust Company has a
recordkeeping, trustee, investment management or investment
servicing relationship.

Send the Fund a written request along with your payment, indicating
the amount of the redemption and the date on which it occurred.

o Purchases made with dividend or capital gain distributions from
another fund in the IDS MUTUAL FUND GROUP that has a sales charge.

o Purchases made through American Express Strategic Portfolio
Service (total amount of all investments made in the Strategic
Portfolio Service must be at least $50,000).

<PAGE>
PAGE 24
o Purchases made under the University of Texas System ORP.

*Eligibility must be determined in advance by American Express
Financial Advisors. To do so, contact your financial advisor.

Class B - contingent deferred sales charge alternative

Where a CDSC is imposed on a redemption, it is based on the amount
of the redemption and the number of calendar years, including the
year of purchase, between purchase and redemption. The following
table shows the declining scale of percentages that apply to
redemptions during each year after a purchase:

If a redemption is The percentage rate
made during the for the CDSC is:

First year 5%
Second year 4%
Third year 4%
Fourth year 3%
Fifth year 2%
Sixth year 1%
Seventh year 0%

If the amount you are redeeming reduces the current net asset value
of your investment in Class B shares below the total dollar amount
of all your purchase payments during the last six years (including
the year in which your redemption is made), the CDSC is based on
the lower of the redeemed purchase payments or market value.

The following example illustrates how the CDSC is applied. Assume
you had invested $10,000 in Class B shares and that your investment
had appreciated in value to $12,000 after 15 months, including
reinvested dividend and capital gain distributions. You could
redeem any amount up to $2,000 without paying a CDSC ($12,000
current value less $10,000 purchase amount). If you redeemed
$2,500, the CDSC would apply only to the $500 that represented part
of your original purchase price. The CDSC rate would be 4% because
a redemption after 15 months would take place during the second
year after purchase.

Because the CDSC is imposed only on redemptions that reduce the
total of your purchase payments, you never have to pay a CDSC on
any amount you redeem that represents appreciation in the value of
your shares, income earned by your shares or capital gains. In
addition, when determining the rate of any CDSC, your redemption
will be made from the oldest purchase payment you made. Of course,
once a purchase payment is considered to have been redeemed, the
next amount redeemed is the next oldest purchase payment. By
redeeming the oldest purchase payments first, lower CDSCs are
imposed than would otherwise be the case.

Waivers of the contingent deferred sales charge

The CDSC on Class B shares will be waived on redemptions of shares:

o In the event of the shareholder's death,
o Purchased by any board member, officer or employee of a fund or
<PAGE>
PAGE 25
AEFC or its subsidiaries,
o Held in a trusteed employee benefit plan,
o Held in IRAs or certain qualified plans for which American
Express Trust Company acts as custodian, such as Keogh plans, tax-
sheltered custodial accounts or corporate pension plans, provided
that the shareholder is:
- at least 59-1/2 years old, and
- taking a retirement distribution (if the redemption is part
of a transfer to an IRA or qualified plan in a product
distributed by American Express Financial Advisors, or a
custodian-to-custodian transfer to a product not distributed
by American Express Financial Advisors, the CDSC will not be
waived), or
- redeeming under an approved substantially equal periodic
payment arrangement.

For investors in Class A shares who have over $1 million invested
in one year, the 1% CDSC on redemption of those shares will be
waived in the same circumstances described for Class B.

Special shareholder services

Services

To help you track and evaluate the performance of your investments,
AEFC provides these services:

Quarterly statements listing all of your holdings and transactions
during the previous three months.

Yearly tax statements featuring average-cost-basis reporting of
capital gains or losses if you redeem your shares along with
distribution information which simplifies tax calculations.

A personalized mutual fund progress report detailing returns on
your initial investment and cash-flow activity in your account. It
calculates a total return to reflect your individual history in
owning Fund shares. This report is available from your financial
advisor.

Quick telephone reference

American Express Telephone Transaction Service
Redemptions and exchanges, dividend payments or reinvestments and
automatic payment arrangements
National/Minnesota: 800-437-3133
Mpls./St. Paul area: 671-3800

American Express Shareholder Service
Fund performance, objectives and account inquiries
612-671-3733

TTY Service
For the hearing impaired
800-846-4852

<PAGE>
PAGE 26
American Express Infoline
Automated account information (TouchToneR phones only), including
current Fund prices and performance, account values and recent
account transactions
National/Minnesota: 800-272-4445
Mpls./St. Paul area: 671-1630

Distributions and taxes

As a shareholder you are entitled to your share of the Fund's net
income and any net gains realized on its investments. The Fund
distributes dividends and capital gain distributions to qualify as
a regulated investment company and to avoid paying corporate income
and excise taxes. Dividend and capital gain distributions will
have tax consequences you should know about.

Dividend and capital gain distributions

The Portfolio allocates investment income from dividends and net
realized capital gains or losses, if any, to the Fund. The Fund
deducts direct and allocated expenses from the investment income.
The Fund's net investment income is distributed to you at the end
of each calendar quarter as dividends. Short-term capital gains
are distributed at the end of the calendar year and are included in
net investment income. Long-term capital gains are realized
whenever a security held for more than one year is sold for a
higher price. The Fund will offset any net realized capital gains
by any available capital loss carryovers. Net realized long-term
capital gains, if any, are distributed at the end of the calendar
year as capital gain distributions. Before they're distributed,
both net investment income and net long-term capital gains are
included in the value of each share. After they're distributed,
the value of each share drops by the per-share amount of the
distribution. (If your distributions are reinvested, the total
value of your holdings will not change.)

Dividends for each class will be calculated at the same time, in
the same manner and will be the same amount prior to deduction of
expenses. Expenses attributable solely to a class of shares will
be paid exclusively by that class.

Reinvestments

Dividends and capital gain distributions are automatically
reinvested in additional shares in the same class of the Fund,
unless:

o you request the Fund in writing or by phone to pay
distributions to you in cash, or

o you direct the Fund to invest your distributions in any
publicly available IDS fund for which you've previously opened
an account. You pay no sales charge on shares purchased
through reinvestment from this Fund into any IDS fund.

The reinvestment price is the net asset value at close of business
on the day the distribution is paid. (Your quarterly statement <PAGE>
PAGE 27
will confirm the amount invested and the number of shares
purchased.)

If you choose cash distributions, you will receive only those
declared after your request has been processed.

If the U.S. Postal Service cannot deliver the checks for the cash
distributions, we will reinvest the checks into your account at the
then-current net asset value and make future distributions in the
form of additional shares.

Taxes

The Fund has received a Private Letter Ruling from the Internal
Revenue Service stating that, for purposes of the Internal Revenue
Code, the Fund will be regarded as directly holding its allocable
share of the income and gain realized by the Portfolio.

Distributions are subject to federal income tax and also may be
subject to state and local taxes. Distributions are taxable in the
year the Fund declares them regardless of whether you take them in
cash or reinvest them.

Income received by the Fund may be subject to foreign tax and
withholding. Tax conventions between certain countries and the
U.S. may reduce or eliminate such taxes. You may be entitled to
claim foreign tax credits or deductions subject to provisions and
limitations of the Internal Revenue Code. The Fund will notify you
if such credit or deduction is available.

Each January, you will receive a tax statement showing the kinds
and total amount of all distributions you received during the
previous year. You must report distributions on your tax returns,
even if they are reinvested in additional shares.

Buying a dividend creates a tax liability. This means buying
shares shortly before a capital gain distribution. You pay the
full pre-distribution price for the shares, then receive a portion
of your investment back as a distribution, which is taxable.

Redemptions and exchanges subject you to a tax on any capital gain.
If you sell shares for more than their cost, the difference is a
capital gain. Your gain may be either short term (for shares held
for one year or less) or long term (for shares held for more than
one year).

Your Taxpayer Identification Number (TIN) is important. As with
any financial account you open, you must list your current and
correct Taxpayer Identification Number (TIN) -- either your Social
Security or Employer Identification number. The TIN must be
certified under penalties of perjury on your application when you
open an account at AEFC.

If you don't provide the TIN, or the TIN you report is incorrect,
you could be subject to backup withholding of 31% of taxable
distributions and proceeds from certain sales and exchanges. You
also could be subject to further penalties, such as:<PAGE>
PAGE 28
o a $50 penalty for each failure to supply your correct TIN
o a civil penalty of $500 if you make a false statement that
results in no backup withholding
o criminal penalties for falsifying information

You also could be subject to backup withholding because you failed
to report interest or dividends on your tax return as required.
<TABLE><CAPTION>
How to determine the correct TIN
Use the Social Security or
For this type of account: Employer Identification number
of:
<S> <C>
Individual or joint account The individual or individuals
listed on the account

Custodian account of a minor The minor
(Uniform Gifts/Transfers to
Minors Act)

A living trust The grantor-trustee (the person
who puts the money into the
trust)

An irrevocable trust, pension The legal entity (not the
trust or estate personal representative or
trustee, unless no legal entity
is designated in the account
title)

Sole proprietorship The owner

Partnership The partnership

Corporate The corporation

Association, club or The organization
tax-exempt organization
</TABLE>

For details on TIN requirements, ask your financial advisor or
local American Express Financial Advisors office for federal Form
W-9, "Request for Taxpayer Identification Number and
Certification."

Important: This information is a brief and selective summary of
certain federal tax rules that apply to this Fund. Tax matters are
highly individual and complex, and you should consult a qualified
tax advisor about your personal situation.

How the Fund and Portfolio are organized

IDS Global Series, Inc. currently is composed of five funds, each
issuing its own series of capital stock: IDS Emerging Markets Fund,
IDS Global Balanced Fund, IDS Global Bond Fund, IDS Global Growth
Fund and IDS Innovations Fund. Each fund is owned by its <PAGE>
PAGE 29
shareholders. Each fund issues shares in three classes - Class
A, Class B and Class Y. Each class has different sales
arrangements and bears different expenses. Each class represents
interests in the assets of a fund. Par value is one cent per
share. Both full and fractional shares can be issued.

The shares of each fund making up IDS Global Series, Inc. represent
an interest in that fund's assets only (and profits or losses),
and, in the event of liquidation, each share of a fund would have
the same rights to dividends and assets as every other share of
that fund.

Voting rights

As a shareholder, you have voting rights over the Fund's management
and fundamental policies. You are entitled to one vote for each
share you own. Shares of the Fund have cumulative voting rights.
Each class has exclusive voting rights with respect to the
provisions of the Fund's distribution plan that pertain to a
particular class and other matters for which separate class voting
is appropriate under applicable law.

Shareholder meetings

The Fund does not hold annual shareholder meetings. However, the
board members may call meetings at their discretion, or on demand
by holders of 10% or more of the outstanding shares, to elect or
remove board members.

Special considerations regarding master/feeder structure

The Fund pursues its goal by investing its assets in a master fund
called the Portfolio. This means that the Fund does not invest
directly in securities; rather the Portfolio invests in and manages
its portfolio of securities. The Portfolio is a separate
investment company but it has the same goal and investment policies
as the Fund. The goal and investment policies of the Portfolio are
described under the captions "Investment policies and risks" and
"Facts about investments and their risks." Additional information
on investment policies may be found in the SAI.

Board considerations: The board considered the advantages and
disadvantages of investing the Fund's assets in the Portfolio. The
board believes that the master/feeder structure can be in the best
interest of the Fund and its shareholders since it offers the
opportunity for economies of scale. The Fund may redeem all of its
assets from the Portfolio at any time. Should the board determine
that it is in the best interest of the Fund and its shareholders to
terminate its investment in the Portfolio, it would consider hiring
an investment advisor to manage the Fund's assets, or other
appropriate options. The Fund would terminate its investments if
the Portfolio changed its goals, investment policies or
restrictions without the same change being approved by the Fund.

Other feeders: The Portfolio sells securities to other affiliated
mutual funds and may sell securities to non-affiliated investment
companies and institutional accounts (known as feeders). These <PAGE>
PAGE 30
feeders buy the Portfolio's securities on the same terms and
conditions as the Fund and pay their proportionate share of the
Portfolio's expenses. However, their operating costs and sales
charges are different from those of the Fund. Therefore, the
investment returns for other feeders are different from the returns
of the Fund. Information about other feeders may be obtained by
calling American Express Financial Advisors at 1-800-AXP-SERV.

Each feeder that invests in the Portfolio is different and
activities of its investors may adversely affect all other feeders,
including the Fund. For example, if one feeder decides to
terminate its investment in the Portfolio, the Portfolio may elect
to redeem in cash or in kind. If cash is used, the Portfolio will
incur brokerage, taxes and other costs in selling securities to
raise the cash. This may result in less investment diversification
if entire investment positions are sold, and it also may result in
less liquidity among the remaining assets. If in-kind distribution
is made, a smaller pool of assets remains that may affect brokerage
rates and investment options. In both cases, expenses may rise
since there are fewer assets to cover the costs of managing those
assets.

Shareholder meetings: Whenever the Portfolio proposes to change a
fundamental investment policy or to take any other actions
requiring approval of its security holders, the Fund must hold a
shareholder meeting. The Fund will vote for or against the
Portfolio's proposals in proportion to the vote it receives for or
against the same proposals from its shareholders.

Board members and officers

Shareholders elect a board that oversees the operations of the Fund
and chooses its officers. Its officers are responsible for day-to-
day business decisions based on policies set by the board. The
board has named an executive committee that has authority to act on
its behalf between meetings. The board members serve on the boards
of all 47 funds in the IDS MUTUAL FUND GROUP, except for Mr. Dudley
Mr. Dudley is a board member of all IDS funds, except the nine life
funds. The board members also serve as members of the board of the
Trust which manages the investments of the Fund and other accounts.
Should any conflict of interest arise between the interests of the
shareholders of the Fund and those of the other accounts, the board
will follow written procedures to address the conflict.

Board members and officers of the Fund

President and interested board member

William R. Pearce
President of all funds in the IDS MUTUAL FUND GROUP.

Independent board members

H. Brewster Atwater, Jr.
Former chairman and chief executive officer, General Mills, Inc.

<PAGE>
PAGE 31
Lynne V. Cheney
Distinguished fellow, American Enterprise Institute for Public
Policy Research.

Robert F. Froehlke
Former president of all funds in the IDS MUTUAL FUND GROUP.

Heinz F. Hutter
Former president and chief operating officer, Cargill, Inc.

Anne P. Jones
Attorney and telecommunications consultant.

Melvin R. Laird
Senior counsellor for national and international affairs, The
Reader's Digest Association, Inc.

Edson W. Spencer
Former chairman and chief executive officer, Honeywell, Inc.

Wheelock Whitney
Chairman, Whitney Management Company.

C. Angus Wurtele
Chairman of the board, The Valspar Corporation.

Interested board members who are officers and/or employees of AEFC

William H. Dudley
Executive vice president, AEFC.

David R. Hubers
President and chief executive officer, AEFC.

John R. Thomas
Senior vice president, AEFC.

Officers who also are officers and/or employees of AEFC

Peter J. Anderson
Vice president of all funds in the IDS MUTUAL FUND GROUP.

Melinda S. Urion
Treasurer of all funds in the IDS MUTUAL FUND GROUP.

Other officer

Leslie L. Ogg
Vice president, general counsel and secretary of all funds in the
IDS MUTUAL FUND GROUP.

Refer to the SAI for the board members' and officers' biographies.

Investment manager

The Portfolio pays AEFC for managing its assets. The Fund pays its
proportionate share of the fee. Under the Investment Management
Services Agreement that became effective March 20, 1995, AEFC is <PAGE>
PAGE 32
paid a fee for these services based on the average daily net assets
of the Portfolio, as follows:

Assets Annual rate
(billions) at each asset level
First $0.25 0.770%
Next 0.25 0.745
Next 0.25 0.720
Next 0.25 0.695
Over 1.0 0.670

For the fiscal period ended Oct. 31, 1996, the Portfolio paid AEFC
a total investment management fee of 0.75% of its average daily net
assets. Under the Agreement, the Portfolio also pays taxes,
brokerage commissions and nonadvisory expenses.

Administrator and transfer agent

The Fund pays AEFC for shareholder accounting and transfer agent
services under two agreements. The first agreement, the
Administrative Services Agreement, has a declining annual rate
beginning at 0.06% and decreasing to 0.04% as assets increase. The
second agreement, the Transfer Agency Agreement, has an annual fee
per shareholder account as follows:

o Class A $15.50
o Class B $16.50
o Class Y $15.50

Distributor

The Fund has an exclusive distribution agreement with American
Express Financial Advisors, a wholly owned subsidiary of AEFC.
Financial advisors representing American Express Financial Advisors
provide information to investors about individual investment
programs, the Fund and its operations, new account applications,
and exchange and redemption requests. The cost of these services
is paid partially by the Fund's sales charges.

Persons who buy Class A shares pay a sales charge at the time of
purchase. Persons who buy Class B shares are subject to a
contingent deferred sales charge on a redemption in the first six
years and pay an asset-based sales charge (also known as a 12b-1
plan) of 0.75% of the Fund's average daily net assets. Class Y
shares are sold without a sales charge and without an asset-based
sales charge.

Financial advisors may receive different compensation for selling
Class A, Class B and Class Y shares. Portions of the sales charge
also may be paid to securities dealers who have sold the Fund's
shares or to banks and other financial institutions. The amounts
of those payments range from 0.8% to 4% of the Fund's offering
price depending on the monthly sales volume.

Under a Shareholder Service Agreement, the Fund also pays a fee for
service provided to shareholders by financial advisors and other <PAGE>
PAGE 33
servicing agents. The fee is calculated at a rate of 0.175% of the
Fund's average daily net assets attributable to Class A and Class B
shares.

Total expenses paid by the Fund's Class A shares for the fiscal
year ended Oct. 31, 1996, were 1.20% of its average daily net
assets. Expenses for Class B and Class Y were 1.96% and 1.01%,
respectively.

Total fees and expenses (excluding taxes and brokerage commissions)
cannot exceed the most restrictive applicable state expense
limitation.

The expense ratio of the Fund and Portfolio may be higher than that
of a fund investing exclusively in domestic securities because the
expenses of the Fund and Portfolio, such as the investment
management fee and the custodial costs, are higher. The expense
ratio generally is not higher, however, than that of funds with
similar investment goals and policies.

About American Express Financial Corporation

General information

The AEFC family of companies offers not only mutual funds but also
insurance, annuities, investment certificates and a broad range of
financial management services.

Besides managing investments for all publicly offered funds in the
IDS MUTUAL FUND GROUP, AEFC also manages investments for itself and
its subsidiaries, IDS Certificate Company and IDS Life Insurance
Company. Total assets under management on Oct. 31, 1996 were more
than $145 billion.

American Express Financial Advisors serves individuals and
businesses through its nationwide network of more than 175 offices
and more than 7,900 advisors.

Other AEFC subsidiaries provide investment management and related
services for pension, profit sharing, employee savings and
endowment funds of businesses and institutions.

AEFC is located at IDS Tower 10, Minneapolis, MN 55440-0010. It is
a wholly owned subsidiary of American Express Company (American
Express), a financial services company with headquarters at
American Express Tower, World Financial Center, New York, NY 10285.
The Portfolio may pay brokerage commissions to broker-dealer
affiliates of AEFC.
<PAGE>
PAGE 34
Appendix A

Description of corporate bond ratings

Bond ratings concern the quality of the issuing corporation. They
are not an opinion of the market value of the security. Such
ratings are opinions on whether the principal and interest will be
repaid when due. A security's rating may change, which could
affect its price. Ratings by Moody's Investors Service, Inc. are
Aaa, Aa, A, Baa, Ba, B, Caa, Ca and C. Ratings by Standard &
Poor's Corporation are AAA, AA, A, BBB, BB, B, CCC, CC, C and D.
The following is a compilation of the two agencies' rating
descriptions. For further information, see the SAI.

Aaa/AAA - Judged to be of the best quality and carry the smallest
degree of investment risk. Interest and principal are secure.

Aa/AA - Judged to be high-grade although margins of protection for
interest and principal may not be quite as good as Aaa or AAA rated
securities.

A - Considered upper-medium grade. Protection for interest and
principal is deemed adequate but may be susceptible to future
impairment.

Baa/BBB - Considered medium-grade obligations. Protection for
interest and principal is adequate over the short-term; however,
these obligations may have certain speculative characteristics.

Ba/BB - Considered to have speculative elements. The protection of
interest and principal payments may be very moderate.

B - Lack characteristics of more desirable investments. There may
be small assurance over any long period of time of the payment of
interest and principal.

Caa/CCC - Are of poor standing. Such issues may be in default or
there may be risk with respect to principal or interest.

Ca/CC - Represent obligations that are highly speculative. Such
issues are often in default or have other marked shortcomings.

C - Are obligations with a higher degree of speculation. These
securities have major risk exposures to default.

D - Are in payment default. The D rating is used when interest
payments or principal payments are not made on the due date.

Non-rated securities will be considered for investment when they
possess a risk comparable to that of rated securities consistent
with the Portfolio's objectives and policies. When assessing the
risk involved in each non-rated security, the Portfolio will
consider the financial condition of the issuer or the protection
afforded by the terms of the security.
<PAGE>
PAGE 35
Definitions of zero-coupon and pay-in-kind securities

A zero-coupon security is a security that is sold at a deep
discount from its face value and makes no periodic interest
payments. The buyer of such a security receives a rate of return
by gradual appreciation of the security, which is redeemed at face
value on the maturity date.

A pay-in-kind security is a security in which the issuer has the
option to make interest payments in cash or in additional
securities. The securities issued as interest usually have the
same terms, including maturity date, as the pay-in-kind securities.
<PAGE>
PAGE 36
Appendix B

Descriptions of derivative instruments

What follows are brief descriptions of derivative instruments the
Portfolio may use. At various times the Portfolio may use some or
all of these instruments and is not limited to these instruments.
It may use other similar types of instruments if they are
consistent with the Portfolio's investment goal and policies. For
more information on these instruments, see the SAI.

Options and futures contracts. An option is an agreement to buy or
sell an instrument at a set price during a certain period of time.
A futures contract is an agreement to buy or sell an instrument for
a set price on a future date. The Portfolio may buy or sell
options and futures contracts to manage its exposure to changing
interest rates, security prices and currency exchange rates.
Options and futures may be used to hedge the Portfolio's
investments against price fluctuations or to increase market
exposure.

Asset-backed and mortgage-backed securities. Asset-backed
securities include interests in pools of assets such as motor
vehicle installment sale contracts, installment loan contracts,
leases on various types of real and personal property, receivables
from revolving credit (credit card) agreements or other categories
of receivables. Mortgage-backed securities include collateralized
mortgage obligations and stripped mortgage-backed securities.
Interest and principal payments depend on payment of the underlying
loans or mortgages. The value of these securities may also be
affected by changes in interest rates, the market's perception of
the issuers and the creditworthiness of the parties involved. The
non-mortgage related asset-backed securities do not have the
benefit of a security interest in the related collateral. Stripped
mortgage-backed securities include interest only (IO) and principal
only (PO) securities. Cash flows and yields on IOs and POs are
extremely sensitive to the rate of principal payments on the
underlying mortgage loans or mortgage-backed securities.

Indexed securities. The value of indexed securities is linked to
currencies, interest rates, commodities, indexes or other financial
indicators. Most indexed securities are short- to intermediate-
term fixed income securities whose values at maturity or interest
rates rise or fall according to the change in one or more specified
underlying instruments. Indexed securities may be more volatile
than the underlying instrument itself.

Inverse floaters. Inverse floaters are created by underwriters
using the interest payment on securities. A portion of the
interest received is paid to holders of instruments based on
current interest rates for short-term securities. The remainder,
minus a servicing fee, is paid to holders of inverse floaters. As
interest rates go down, the holders of the inverse floaters receive
more income and an increase in the price for the inverse floaters.
As interest rates go up, the holders of the inverse floaters
receive less income and a decrease in the price for the inverse
floaters.<PAGE>
PAGE 37
Structured products. Structured products are over-the-counter
financial instruments created specifically to meet the needs of one
or a small number of investors. The instrument may consist of a
warrant, an option or a forward contract embedded in a note or any
of a wide variety of debt, equity and/or currency combinations.
Risks of structured products include the inability to close such
instruments, rapid changes in the market and defaults by other
parties.
<PAGE>
PAGE 38
IDS Global Growth Fund

Prospectus
Dec. 30, 1996

The goal of IDS Global Growth Fund, a part of IDS Global Series,
Inc., is long-term growth of capital.

The Fund seeks to achieve its goal by investing all of its assets
in World Growth Portfolio of World Trust. The Portfolio is a
separate investment company managed by American Express Financial
Corporation that has the same goal as the Fund. This arrangement
is commonly known as a master/feeder structure.

This prospectus contains facts that can help you decide if the Fund
is the right investment for you. Read it before you invest and
keep it for future reference.

Additional facts about the Fund are in a Statement of Additional
Information (SAI), filed with the Securities and Exchange
Commission (SEC) and available for reference, along with other
related materials, on the SEC Internet web site
(http://www.sec.gov). The SAI is incorporated herein by reference.
For a free copy, contact American Express Shareholder Service.

Please note that this Fund:

o is not a bank deposit
o is not federally insured
o is not endorsed by any bank or government agency
o is not guaranteed to achieve its goal

American Express Shareholder Service
P.O. Box 534
Minneapolis, MN
55440-0534
612-671-3733
TTY: 800-846-4852
<PAGE>
PAGE 39
Table of contents

The Fund in brief
Goal
Investment policies and risks
Structure of the Fund
Manager and distributor
Portfolio manager
Alternative purchase arrangements

Sales charge and Fund expenses

Performance
Financial highlights
Total returns

Investment policies and risks
Facts about investments and their risks
Valuing Fund shares

How to purchase, exchange or redeem shares
Alternative purchase arrangements
How to purchase shares
How to exchange shares
How to redeem shares
Reductions and waivers of the sales charge

Special shareholder services
Services
Quick telephone reference

Distributions and taxes
Dividend and capital gain distributions
Reinvestments
Taxes
How to determine the correct TIN

About American Express Financial Corporation
General information

Appendix
Descriptions of derivative instruments
<PAGE>
PAGE 40
The Fund in brief

Goal

IDS Global Growth Fund (the Fund) seeks to provide shareholders
with long-term growth of capital. It does so by investing all of
its assets in World Growth Portfolio (the Portfolio) of World Trust
(the Trust). Both the Fund and the Portfolio are diversified
investment companies that have the same goal. Because any
investment involves risk, achieving this goal cannot be guaranteed.
The goal can be changed only by holders of a majority of
outstanding securities.

Investment policies and risks

Both the Fund and Portfolio have the same investment policies.
Accordingly, the Portfolio invests primarily in equity securities
of companies throughout the world. The Portfolio also invests in
debt securities, derivative instruments and money market
instruments.

Risks arising from investments in foreign securities include
fluctuations in currency exchange rates, adverse political and
economic developments and lack of comparable regulatory
requirements applicable to U.S. companies. You should invest in
the Fund only if you are willing to assume such risks.

Structure of the Fund

This Fund uses what is commonly known as a master/feeder structure.
This means that it is a feeder fund that invests all of its assets
in the Portfolio which is its master fund. The Portfolio actually
invests in and manages the securities and has the same goal and
investment policies as the Fund. This structure is described in
more detail in the section captioned "Special considerations
regarding master/feeder structure." Here is an illustration of the
structure:

Investors buy
shares in the Fund

The Fund invests
in the Portfolio

The Portfolio invests
in securities, such
as stocks or bonds<PAGE>
PAGE 41
Manager and distributor

The Portfolio is managed by American Express Financial Corporation
(AEFC), a provider of financial services since 1894. AEFC
currently manages more than $56 billion in assets for the IDS
MUTUAL FUND GROUP. Shares of the Fund are sold through American
Express Financial Advisors Inc., a wholly owned subsidiary of AEFC.

Portfolio manager

Richard Lazarchic joined AEFC in 1979 and serves as portfolio
manager. He has managed the assets of the Fund since July 1995 and
serves as portfolio manager of the Portfolio. He also is portfolio
manager of IDS Life Series International Equity Portfolio. He was
portfolio manager of IDS Utilities Income Fund from 1989 to 1993
and IDS Diversified Equity Income Fund from 1990 to 1994.

Alternative purchase arrangements

Sales charge and Fund expenses

Annual Fund and allocated Portfolio operating expenses
(as a percentage of average daily net assets):

Class A Class B Class Y
Management fee** 0.76% 0.76% 0.76%
12b-1 fee 0.00% 0.75% 0.00%
Other expenses*** 0.61% 0.63% 0.43%
Total**** 1.37% 2.14% 1.19%

*This charge may be reduced depending on your total investments in
IDS funds. See "Reductions of the sales charge."
<PAGE>
PAGE 42

**The management fee is paid by the Trust on behalf of the
Portfolio.
***Other expenses include an administrative services fee, a
shareholder services fee for Class A and Class B, a transfer agency
fee and other non-advisory expenses.
****The Fund changed to a master/feeder structure on May 13, 1996.
The board considered whether the aggregate expenses of the Fund and
the Portfolio would be more or less than if the Fund invested
directly in the type of securities being held by the Portfolio.
AEFC has agreed to pay the small additional costs required to use a
master/feeder structure to manage the investment portfolio during
the first year of its operation and half of such costs in the
second year approximately $8,000 in year one and $3,800 in year
two.

1 year 3 years 5 years 10 years
Class A $63 $ 91 $121 $207
Class B $72 $107 $135 $228**
Class B* $22 $ 67 $115 $228**
Class Y $12 $ 38 $ 66 $145

*Assuming Class B shares are not redeemed at the end of the period.
**Based on conversion of Class B shares to Class A shares after
eight years.

Performance

Financial highlights
<TABLE><CAPTION>

Global Growth Fund

Fiscal period ended Oct. 31,
Per share income and capital changes*

Class A

1996 1995 1994 1993 1992 1991 1990**
<S> <C> <C> <C> <C> <C> <C> <C>
Net asset value, $6.37 $6.96 $6.30 $4.92 $5.03 $4.67 $5.00
beginning of period
Income from investment operations:
Net investment income .08 .10 .04 .02 .04 .08 .04
Net gains (losses)
(both realized and unrealized) .83 (.59) .73 1.43 (.11) .36 (.37)

Total from investment operations .91 (.49) .77 1.45 (.07) .44 (.33)

Less distibutions:
Dividends from net investment income (.13) (.05) (.02) (.03) (.04) (.08) --
Distributions from realized gains (.03) (.05) (.09) (.03) -- -- --<PAGE>
PAGE 43
Excess distributions of realized gains -- -- -- (.01) -- -- --

Total distributions (.16) (.10) (.11) (.07) (.04) (.08) --

Net asset value, $7.12 $6.37 $6.96 $6.30 $4.92 $5.03 $4.67
end of period
Ratios/supplemental data

Class A

1996 1995 1994 1993 1992 1991 1990**
Net assets, end of $908 $659 $670 $244 $69 $38 $21
period (in millions)

Ratio of expenses to 1.37% 1.39% 1.38% 1.51% 1.72% 1.70% .81%+
average daily net assets***

Ratio of net income to 1.45% 1.59% .85% .80% 1.16% 1.66% 2.99%+
average daily net assets

Portfolio turnover rate (excluding short-term 134% 90% 26% 27% 41% 33% 20%
securities) for the underlying Portfolio

Total return++ 14.5% (7.0%) 12.1% 29.9% (1.5%) 9.8% (6.7%)

Average brokerage commission rate $.0094 -- -- -- -- -- --
for the underlying Portfolio+++

*For a share outstanding throughout the period. Rounded to the nearest cent.
**Inception date. Period from May 29, 1990 to Oct. 31, 1990.
***Effective fiscal year 1996, expense ratio is based on total expenses of the Fund before reduction of
earnings credits on cash balances.
+Adjusted to an annual basis.
++Total return does not reflect payment of a sales charge.
+++Effective fiscal year 1996, the Fund is required to disclose an averagebrokerage commission rate. The
rate is calculated by dividing the total brokerage commissions paid on applicable purchases and sales of
portfolio securities for the period by the total number of related shares purchased and sold. <PAGE>
PAGE 44

Performance
Financial highlights

Fiscal period ended Oct. 31,
Per share income and capital changes*

Class B Class Y

1996 1995** 1996 1995**
Net asset value, $6.34 $5.82 $6.38 $5.82
beginning of period
Income from investment operations:

Net investment income .05 .02 .09 .06

Net gains on securities (both .81 .50 .83 .50
realized and unrealized)
Total from investment operations .86 .52 .92 .56

Less distributions:

Dividends from net investment income (.12) -- (.14) --

Distributions from realized gains (.03) -- (.03) --

Total distributions (.15) -- (.17) --

Net asset value, $7.05 $6.34 $7.13 $6.38
end of period

Ratios/supplemental data

Class B Class Y

1996 1995** 1996 1995**

Net assets, end of $146 $21 $19 $24
period (in millions)

Ratio of expenses to 2.14% 2.16%+ 1.19% 1.20%+
average daily net assets***

Ratio of net income to 1.05% .85%+ 1.60% 2.37%+
average daily net assets

Portfolio turnover rate (excluding short-term 134% 90% 134% 90%
securities) for the underlying portfolio

Total Return++ 13.6% 8.9% 14.7% 9.6%

Average brokerage commission rate $.0094 -- $.0094 --
for the underlying portfolio+++

*For a share outstanding throughout the period. Rounded to the nearest cent.
**Inception date was March 20, 1995 for Class B and Class Y.
***Effective fiscal year 1996, expense ratio is based on total expenses of the Fund before
reduction of earnings credits on cash balances.
+Adjusted to an annual basis.
++Total return does not reflect payment of a sales charge.
+++Effective fiscal year 1996, the Fund is required to disclose an average brokerage commission
rate. The rate is calculated by dividing the total brokerage commissions paid on applicable
purchases and sales of portfolio securities for the period by the total number of related shares
purchased and sold.
</TABLE>
The information in these tables has been audited by KPMG Peat
Marwick LLP, independent auditors. The independent auditors'
report and additional information about the performance of the Fund
are contained in the Fund's annual report which, if not included
with this prospectus, may be obtained without charge.

<PAGE>
PAGE 45
Total returns

Average annual total return is the annually compounded rate of
return over a given time period (usually two or more years). It is
the total return for the period converted to an equivalent annual
figure.

Average annual total returns as of Oct. 31, 1996

Purchase 1 year 5 years Since
made ago ago inception
Global Growth:
Class A* + 8.76% +7.73% + 6.37%
Class B** + 9.62% -- +11.68%
Class Y** +14.66% -- +15.01%

EAFE Index +10.84% +8.21% + 5.78%***

Lipper
International
Fund Index +12.65% +9.74% + 7.10%***

*Inception date was May 29, 1990.
**Inception date was March 20, 1995.
***Measurement period started June 1, 1990.

Cumulative total returns as of Oct. 31, 1996

Purchase 1 year 5 years Since
made ago ago inception
Global Growth:
Class A* + 8.76% +45.19% +48.70%
Class B** + 9.62% -- +19.76%
Class Y** +14.66% -- +25.69%

EAFE Index +10.84% +48.47% +43.48%***

Lipper
International
Fund Index +12.65% +59.13% +55.44%***

*Inception date was May 29, 1990.
**Inception date was March 20, 1995.
***Measurement period started June 1, 1990.

For purposes of calculation, information about the Fund assumes:
o a sales charge of 5% for Class A shares
o redemption at the end of the period and deduction of the
applicable contingent deferred sales charge for Class B shares
o no sales charge for Class Y shares
o no adjustments for taxes an investor may have paid on the
reinvested income and capital gains
o a period of widely fluctuating securities prices. Returns
shown should not be considered a representation of the Fund's
future performance.

The Morgan Stanley Capital International EAFE Index (EAFE Index),
an unmanaged index compiled from a composite of securities markets
of Europe, Australia and the Far East, is widely recognized by
investors in foreign markets as the measurement index for
portfolios of non-North American securities. The index reflects
reinvestment of all distributions and changes in market prices, but
excludes brokerage commissions or other fees.

Lipper International Fund Index, an unmanaged index published by
Lipper Analytical Services, Inc., includes 30 funds that are
generally similar to the Fund, although some funds in the index may
have somewhat different investment policies or objectives.

Investment policies and risks

The policies described below apply both to the Fund and the
Portfolio. The Portfolio invests primarily in common stocks and
securities convertible into common stocks of companies located both
in developed and emerging countries. Generally, these companies
will have over $200 million in market capitalization and, under
normal market conditions, at least 65% of the Portfolio's total
assets will be invested in the common stocks and convertible
securities of companies in at least three different countries.

The Portfolio also invests in preferred stocks, debt securities,
derivative instruments and money market instruments.

The various types of investments the portfolio manager uses to
achieve investment performance are described in more detail in the
next section and in the SAI.

Facts about investments and their risks

This Fund is designed for long-term investors who want to pursue
capital growth and who are willing to assume the risk of market
fluctuations and international uncertainties in pursuit of that
goal.

Common stocks: Stock prices are subject to market fluctuations.
Stocks of foreign companies may be subject to abrupt or erratic
price movements. While many of the Portfolio's investments are in
established companies having adequate financial reserves, some
investments involve substantial risk and may by considered
speculative.
<PAGE>
PAGE 47
Preferred stocks: If a company earns a profit, it generally must
pay its preferred stockholders a dividend at a pre-established
rate.

Debt securities: The price of bonds generally falls as interest
rates increase, and rises as interest rates decrease. The price of
bonds also fluctuates if the credit rating is upgraded or
downgraded. The price of bonds below investment grade may react
more to the ability of the issuing company to pay interest and
principal when due than to changes in interest rates. These bonds
have greater price fluctuations and are more likely to experience a
default. The Portfolio may invest up to 20% of its net assets in
bonds but will not invest more than 5% of its net assets in bonds
below investment grade, including Brady bonds. Securities that are
subsequently downgraded in quality may continue to be held by the
Portfolio and will be sold only when the investment manager
believes it is advantageous to do so.

Derivative instruments: The portfolio manager may use derivative
instruments in addition to securities to achieve investment
performance. Derivative instruments include futures, options and
forward contracts. Such instruments may be used to maintain cash
reserves while remaining fully invested, to offset anticipated
declines in values of investments, to facilitate trading, to reduce
transaction costs or to pursue higher investment returns.
Derivative instruments are characterized by requiring little or no <PAGE>
PAGE 48

initial payment and a daily change in price based on or derived
from a security, a currency, a group of securities or currencies,
or an index. A number of strategies or combination of instruments
can be used to achieve the desired investment performance
characteristics. A small change in the value of the underlying
security, currency or index will cause a sizable gain or loss in
the price of the derivative instrument. Derivative instruments
allow the portfolio manager to change the investment performance
characteristics very quickly and at lower costs. Risks include
losses of premiums, rapid changes in prices, defaults by other
parties and inability to close such instruments. The Portfolio
will use derivative instruments only to achieve the same investment
performance characteristics it could achieve by directly holding
those securities and currencies permitted under the investment
policies. The Portfolio will designate cash or appropriate liquid
assets to cover its portfolio obligations. No more than 5% of the
Portfolio's net assets can be used at any one time for good faith
deposits on futures and premiums for options on futures that do not
offset existing investment positions. This does not, however,
limit the portion of the Portfolio's assets at risk to 5%. The
Portfolio is not limited as to the percentage of its assets that
may be invested in permissible investments, including derivatives,
except as otherwise explicitly provided in this prospectus or the
SAI. For descriptions of these and other types of derivative
instruments, see the Appendix to this prospectus and the SAI.

The investment policies described above may be changed by the
boards.

Lending portfolio securities: The Portfolio may lend its
securities to earn income so long as borrowers provide collateral
equal to the market value of the loans. The risks are that
borrowers will not provide collateral when required or return
securities when due. Unless a majority of the outstanding voting
securities approve otherwise, loans may not exceed 30% of the
Portfolio's net assets.<PAGE>
PAGE 49

Valuing Fund shares

The public offering price is the net asset value (NAV) adjusted for
the sales charge for Class A. It is the NAV for Class B and
Class Y.

To establish the net assets, all securities held by the Portfolio
are valued as of the close of each business day. In valuing
assets:

o Securities (except bonds) and assets with available market
values are valued on that basis.

o Securities maturing in 60 days or less are valued at amortized
cost.

o Bonds and assets without readily available market values are
valued according to methods selected in good faith by the
board.

o Assets and liabilities denominated in foreign currencies are
translated daily into U.S. dollars at a rate of exchange set
as near to the close of the day as practicable.

How to purchase, exchange or redeem shares

Alternative purchase arrangements

Class B No initial sales 0.175% of average Shares convert to
charge; maximum CDSC daily net assets Class A after eight
of 5% declines to 0% years; CDSC waived in
after six years; 12b-1 certain circumstances
fee of 0.75% of average
daily net assets

<PAGE>
PAGE 50
Class Y None None Available only to
certain qualifying
institutional
investors
</TABLE>
Conversion of Class B shares to Class A shares - Eight calendar
years after Class B shares are purchased, Class B shares will
convert to Class A shares and will no longer be subject to a
distribution fee. The conversion will be on the basis of relative
net asset values of the two classes, without the imposition of any
sales charge. Class B shares purchased through reinvested
dividends and distributions will convert to Class A shares in the
same pro rata portion as other Class B shares.

Sales charges on purchase or redemption

If you purchase Class A If you purchase Class B
shares shares

o You will be able to o No reductions of the
take advantage of sales charge are
reductions in the sales available for large
charge. purchases.

Ongoing expenses

If you purchase Class A If you purchase Class B
shares shares

o Your shares will have o The distribution and
a lower expense ratio transfer agency fees for
than Class B shares Class B will cause your
because Class A does not shares to have a higher
<PAGE>
PAGE 51
pay a distribution fee expense ratio and to pay
and the transfer agency lower dividends than
fee for Class A is lower Class A shares. After
than the fee for Class B. eight years, Class B
As a result, Class A shares shares will convert to
will pay higher dividends Class A shares and you
than Class B shares. will no longer be
subject to higher fees.

o Nonqualified deferred compensation plans* whose participants
are included in a qualified employee benefit plan described
above.

* Eligibility must be determined in advance by American Express
Financial Advisors. To do so, contact your financial advisor.

How to purchase shares

Important: When opening an account, you must provide AEFC with
your correct Taxpayer Identification Number (Social Security or
Employer Identification number). See "Distributions and taxes."
<PAGE>
PAGE 52

Purchase policies:

o Investments must be received and accepted in the Minneapolis
headquarters on a business day before 3 p.m. Central time to
be included in your account that day and to receive that day's
share price. Otherwise, your purchase will be processed the
next business day and you will pay the next day's share price.

o The minimums allowed for investment may change from time to
time.

o Wire orders can be accepted only on days when your bank, AEFC,
the Fund and Norwest Bank Minneapolis are open for business.

o Wire purchases are completed when wired payment is received
and the Fund accepts the purchase.

o AEFC and the Fund are not responsible for any delays that
occur in wiring funds, including delays in processing by the
bank.

o You must pay any fee the bank charges for wiring.

o The Fund reserves the right to reject any application for any
reason.

o If your application does not specify which class of shares you
are purchasing, it will be assumed that you are investing in
Class A shares.
<TABLE><CAPTION>
Three ways to invest

Your financial advisor will help
you with this process.

2
By scheduled Contact your financial advisor Minimum amounts
investment plan to set up one of the following Initial investment: $100
scheduled plans: Additional
investments: $100/mo.
o automatic payroll deduction Account balances: none
(on active plans of
o bank authorization monthly payments)

o direct deposit of
Social Security check

o other plan approved by the Fund
<PAGE>
PAGE 53

Give these instructions: Minimum amounts
Credit IDS Account #00-30-015 Each wire investment: $1,000
for personal account # (your
account number) for (your name).
</TABLE>
*If your account balance falls below $300, you will be asked in
writing to bring it up to $300 or establish a scheduled investment
plan. If you don't do so within 30 days, your shares can be
redeemed and the proceeds mailed to you.

How to exchange shares

How to redeem shares

You can redeem your shares at any time. American Express
Shareholder Service will mail payment within seven days after
receiving your request.

When you redeem shares, the amount you receive may be more or less
than the amount you invested. Your shares will be redeemed at net
asset value, minus any applicable sales charge, at the close of
business on the day your request is accepted at the Minneapolis
headquarters. If your request arrives after the close of business,
the price per share will be the net asset value, minus any
applicable sales charge, at the close of business on the next
business day.

A redemption is a taxable transaction. If your proceeds from your
redemption are more or less than the cost of your shares, you will
have a gain or loss, which can affect your tax liability. <PAGE>
PAGE 54
Redeeming shares held in an IRA or qualified retirement account may
subject you to certain federal taxes, penalties and reporting
requirements. Consult your tax advisor.
<TABLE><CAPTION>
Two ways to request an exchange or redemption of shares

Regular mail:
American Express Shareholder Service
Attn: Redemptions
P.O. Box 534
Minneapolis, MN 55440-0534

Express mail:
American Express Shareholder Service
Attn: Redemptions
733 Marquette Ave.
Minneapolis, MN 55402
2
By phone
American Express Telephone o The Fund and AEFC will honor any telephone exchange or redemption request believed to be
Transaction Service: authentic and will use reasonable procedures to confirm that they are. This includes
800-437-3133 or asking identifying questions and tape recording calls. If reasonable
612-671-3800 procedures are not followed, the Fund or AEFC will be liable for any loss resulting from
fraudulent requests.
o Phone exchange and redemption privileges automatically apply to all accounts except
custodial, corporate or qualified retirement accounts unless you request these privileges
NOT apply by writing American Express Shareholder Service. Each registered owner must sign
the request.
o AEFC answers phone requests promptly, but you may experience delays when call volume is
high. If you are unable to get through, use mail procedure as an alternative.
o Acting on your instructions, your financial advisor may conduct telephone transactions
on your behalf.
o Phone privileges may be modified or discontinued at any time.

Minimum amount
Redemption: $100

Maximum amount
Redemption: $50,000
</TABLE>
Exchange policies:

o Exchanges must be made into the same class of shares of the new
fund.

o If your exchange creates a new account, it must satisfy the
minimum investment amount for new purchases.

o Once we receive your exchange request, you cannot cancel it.
<PAGE>
PAGE 55

o Shares of the new fund may not be used on the same day for
another exchange.

o If your shares are pledged as collateral, the exchange will be
delayed until written approval is obtained from the secured party.

Redemption policies:

o A telephone redemption request will not be allowed within 30
days of a phoned-in address change.

1
<S> <C>
By regular or express mail o Mailed to the address on record.
o Payable to names listed on the account.

NOTE: The express mail delivery charges
you pay will vary depending on the
courier you select.

2
By wire o Minimum wire redemption: $1,000.
o Request that money be wired to your bank.
o Bank account must be in the same
ownership as the IDS fund account.

NOTE: Pre-authorization required. For
instructions, contact your financial
advisor or American Express Shareholder Service.

3
By scheduled payout plan o Minimum payment: $50.
o Contact your financial advisor or American Express
Shareholder Service to set up regular
payments to you on a monthly, bimonthly,
quarterly, semiannual or annual basis. <PAGE>
PAGE 56
o Purchasing new shares while under a payout
plan may be disadvantageous because of
the sales charges.
</TABLE>
Reductions and waivers of the sales charge
Class A - initial sales charge alternative

On purchases of Class A shares, you pay a 5% sales charge on the
first $50,000 of your total investment and less on investments
after the first $50,000:

Total investment Sales charge as a
percent of:*

Public Net
offering amount
price invested

Up to $50,000 5.0% 5.26%
Next $50,000 4.5 4.71
Next $400,000 3.8 3.95
Next $500,000 2.0 2.04
$1,000,000 or more 0.0 0.00

* To calculate the actual sales charge on an investment greater
than $50,000 and less than $1,000,000, amounts for each applicable
increment must be totaled. See the SAI.

Reductions of the sales charge on Class A shares

Your sales charge may be reduced, depending on the totals of:

o the amount you are investing in this Fund now,

o the amount of your existing investment in this Fund, if any, and

Other policies that affect your sales charge:

o IRA purchases or other employee benefit plan purchases made
through a payroll deduction plan or through a plan sponsored by an
employer, association of employers, employee organization or other
similar entity, may be added together to reduce sales charges for
all shares purchased through that plan.<PAGE>
PAGE 57

o If you intend to invest $1 million over a period of 13 months,
you can reduce the sales charges in Class A by filing a letter of
intent.

For more details, see the SAI.

Waivers of the sales charge for Class A shares

Sales charges do not apply to:

o Current or retired board members, officers or employees of the
Fund or AEFC or its subsidiaries, their spouses and unmarried
children under 21.

o Current or retired American Express financial advisors, their
spouses and unmarried children under 21.

o Qualified employee benefit plans* using a daily transfer
recordkeeping system offering participants daily access to IDS
funds.

(Participants in certain qualified plans for which the initial
sales charge is waived may be subject to a deferred sales charge of
up to 4% on certain redemptions. For more information, see the
SAI.)

o Purchases made within 30 days after a redemption of shares (up
to the amount redeemed):
- of a product distributed by American Express Financial
Advisors in a qualified plan subject to a deferred sales
charge or
- in a qualified plan where American Express Trust Company has a
recordkeeping, trustee, investment management or investment
servicing relationship.

Send the Fund a written request along with your payment, indicating
the amount of the redemption and the date on which it occurred.

o Purchases made with dividend or capital gain distributions from
another fund in the IDS MUTUAL FUND GROUP that has a sales charge.

o Purchases made through American Express Strategic Portfolio
Service (total amount of all investments made in the Strategic
Portfolio Service must be at least $50,000).

o Purchases made under the University of Texas System ORP.

*Eligibility must be determined in advance by American Express
Financial Advisors. To do so, contact your financial advisor.
<PAGE>
PAGE 58

Class B - contingent deferred sales charge alternative

If a redemption is The percentage rate
made during the for the CDSC is:

First year 5%
Second year 4%
Third year 4%
Fourth year 3%
Fifth year 2%
Sixth year 1%
Seventh year 0%

Waivers of the contingent deferred sales charge

The CDSC on Class B shares will be waived on redemptions of shares:

o In the event of the shareholder's death,
o Purchased by any board member, officer or employee of a fund or
AEFC or its subsidiaries,
<PAGE>
PAGE 59
o Held in a trusteed employee benefit plan,
o Held in IRAs or certain qualified plans for which American
Express Trust Company acts as custodian, such as Keogh plans, tax-
sheltered custodial accounts or corporate pension plans, provided
that the shareholder is:
- at least 59-1/2 years old, and
- taking a retirement distribution (if the redemption is part
of a transfer to an IRA or qualified plan in a product
distributed by American Express Financial Advisors, or a
custodian-to-custodian transfer to a product not distributed
by American Express Financial Advisors, the CDSC will not be
waived), or
- redeeming under an approved substantially equal periodic
payment arrangement.

For investors in Class A shares who have over $1 million invested
in one year, the 1% CDSC on redemption of those shares will be
waived in the same circumstances described for Class B.

Special shareholder services

Services

To help you track and evaluate the performance of your investments,
AEFC provides these services:

Quarterly statements listing all of your holdings and transactions
during the previous three months.

Yearly tax statements featuring average-cost-basis reporting of
capital gains or losses if you redeem your shares along with
distribution information - which simplifies tax calculations.

Quick telephone reference

American Express Shareholder Service
Fund performance, objectives and account inquiries
612-671-3733

TTY Service
For the hearing impaired
800-846-4852
<PAGE>
PAGE 60

American Express Infoline
Automated account information (TouchToneR phones only), including
current Fund prices and performance, account values and recent
account transactions
National/Minnesota: 800-272-4445
Mpls./St. Paul area: 671-1630

Distributions and taxes

Dividend and capital gain distributions

The Portfolio allocates investment income from dividends and
interest and net realized capital gains or losses, if any, to the
Fund. The Fund deducts direct and allocated expenses from the
investment income. The Fund's net investment income is distributed
to you by the end of the calendar year as dividends. Short-term
capital gains are included in net investment income. Long-term
capital gains are realized whenever a security held for more than
one year is sold for a higher price. The Fund will offset any net
realized capital gains by any available capital loss carryovers.
Net realized long-term capital gains, if any, are distributed at
the end of the calendar year as capital gain distributions. Before
they are distributed, both net investment income and net long-term
capital gains are included in the value of each share. After they
are distributed, the value of each share drops by the per-share
amount of the distribution. (If your distributions are reinvested,
the total value of your holdings will not change.)

Reinvestments

Dividends and capital gain distributions are automatically
reinvested in additional shares in the same class of the Fund,
unless:

o you request the Fund in writing or by phone to pay
distributions to you in cash, or

o you direct the Fund to invest your distributions in any
publicly available IDS fund of the same class for which you've
previously opened an account. You pay no sales charge on
shares purchased through reinvestment from this Fund into any
IDS fund.
<PAGE>
PAGE 61
The reinvestment price is the net asset value at close of business
on the day the distribution is paid. (Your quarterly statement
will confirm the amount invested and the number of shares
purchased.)

If you choose cash distributions, you will receive only those
declared after your request has been processed.

Taxes

Buying a dividend creates a tax liability. This means buying
shares shortly before a net investment income or a capital gain
distribution. You pay the full pre-distribution price for the
shares, then receive a portion of your investment back as a
distribution, which is taxable.

<PAGE>
PAGE 62
Your Taxpayer Identification Number (TIN) is important. As with
any financial account you open, you must list your current and
correct Taxpayer Identification Number (TIN) -- either your Social
Security or Employer Identification number. The TIN must be
certified under penalties of perjury on your application when you
open an account at AEFC.

o a $50 penalty for each failure to supply your correct TIN
o a civil penalty of $500 if you make a false statement that
results in no backup withholding
o criminal penalties for falsifying information

Custodian account of a minor The minor
(Uniform Gifts/Transfers to
Minors Act)

A living trust The grantor-trustee (the person
who puts the money into the
trust)

An irrevocable trust, pension The legal entity (not the
trust or estate personal representative or
trustee, unless no legal
entity is designated in the
account title)

Sole proprietorship The owner

Partnership The partnership

Corporate The corporation

Association, club or The organization
tax-exempt organization
</TABLE>
For details on TIN requirements, ask your financial advisor or
local American Express Financial Advisors office for federal Form
W-9, "Request for Taxpayer Identification Number and
Certification."<PAGE>
PAGE 63

How the Fund is organized

IDS Global Series, Inc. currently is composed of five funds, each
issuing its own series of capital stock: IDS Emerging Markets Fund,
IDS Global Balanced Fund, IDS Global Bond Fund, IDS Global Growth
Fund and IDS Innovations Fund. Each fund is owned by its
shareholders. Each fund issues shares in three classes - Class
A, Class B and Class Y. Each class has different sales
arrangements and bears different expenses. Each class represents
interests in the assets of a fund. Par value is one cent per
share. Both full and fractional shares can be issued.

Voting rights

Shareholder meetings

Special considerations regarding master/feeder structure

The Fund pursues its goal by investing its assets in a master fund
called the Portfolio. This means that the Fund does not invest
directly in securities; rather the Portfolio invests in and manages
its portfolio of securities. The Portfolio is a separate <PAGE>
PAGE 64
investment company but it has the same goal and investment policies
as the Fund. The goal and investment policies of the Portfolio are
described under the captions "Investment policies and risks" and
"Facts about investments and their risks." Additional information
on investment policies may be found in the SAI.

Other feeders: The Portfolio sells securities to other affiliated
mutual funds and may sell securities to non-affiliated investment
companies and institutional accounts (known as feeders). These
feeders buy the Portfolio's securities on the same terms and
conditions as the Fund and pay their proportionate share of the
Portfolio's expenses. However, their operating costs and sales
charges are different from those of the Fund. Therefore, the
investment returns for other feeders are different from the returns
of the Fund. Information about other feeders may be obtained by
calling American Express Financial Advisors at 1-800-AXP-SERV.

<PAGE>
PAGE 65
Board members and officers

Shareholders elect a board that oversees the operations of the Fund
and chooses its officers. Its officers are responsible for day-to-
day business decisions based on policies set by the board. The
board has named an executive committee that has authority to act on
its behalf between meetings. The board members serve on the boards
of all 47 funds in the IDS MUTUAL FUND GROUP, except for Mr.
Dudley. Mr. Dudley is a board member of all IDS funds except the
nine life funds. The board members also serve as members of the
board of the Trust which manages the investments of the Fund and
other accounts. Should any conflict of interest arise between the
interests of the shareholders of the Fund and those of the other
accounts, the board will follow written procedures to address the
conflict.

Board members and officers of the Fund

President and interested board member

William R. Pearce
President of all funds in the IDS MUTUAL FUND GROUP.

Independent board members

H. Brewster Atwater, Jr.
Former chairman and chief executive officer, General Mills, Inc.

Lynne V. Cheney
Distinguished fellow, American Enterprise Institute for Public
Policy Research.

Robert F. Froehlke
Former president of all funds in the IDS MUTUAL FUND GROUP.

Heinz F. Hutter
Former president and chief operating officer, Cargill, Inc.

Anne P. Jones
Attorney and telecommunications consultant.

Melvin R. Laird
Senior counsellor for national and international affairs, The
Reader's Digest Association, Inc.

Edson W. Spencer
Former chairman and chief executive officer, Honeywell, Inc.

Wheelock Whitney
Chairman, Whitney Management Company.

C. Angus Wurtele
Chairman of the board, The Valspar Corporation.
<PAGE>
PAGE 66

Interested board members who are officers and/or employees of AEFC

William H. Dudley
Executive vice president, AEFC.

David R. Hubers
President and chief executive officer, AEFC.

John R. Thomas
Senior vice president, AEFC.

Officers who also are officers and/or employees of AEFC

Peter J. Anderson
Vice president of all funds in the IDS MUTUAL FUND GROUP.

Melinda S. Urion
Treasurer of all funds in the IDS MUTUAL FUND GROUP.

Other officer

Leslie L. Ogg
Vice president, general counsel and secretary of all funds in the
IDS MUTUAL FUND GROUP.

Refer to the SAI for the board members' and officers' biographies.

Investment manager

The Portfolio pays AEFC for managing its assets. The Fund pays its
proportionate share of the fee. Under the Investment Management
Services Agreement that became effective March 20, 1995, AEFC is
paid a fee for these services based on the average daily net assets
of the Portfolio, as follows:

Assets Annual rate
(billions) at each asset level

First $0.25 0.800%
Next 0.25 0.775
Next 0.25 0.750
Next 0.25 0.725
Next 1.0 0.700
Over 2.0 0.675

For the fiscal year ended Oct. 31, 1996, the Portfolio paid AEFC a
total investment management fee of 0.76% of its average daily net
assets. Under the Agreement, the Portfolio also pays taxes,
brokerage commissions and nonadvisory expenses.

Administrator and transfer agent

The Fund pays AEFC for shareholder accounting and transfer agent
services under two agreements. The first agreement, the
Administrative Services Agreement, has a declining annual rate <PAGE>
PAGE 67
beginning at 0.06% and decreasing to 0.035% as assets increase.
The second agreement, the Transfer Agency Agreement, has an annual
fee per shareholder account as follows:
o Class A $15
o Class B $16
o Class Y $15

Distributor

Under a Shareholder Service Agreement, the Fund also pays a fee for
service provided to shareholders by financial advisors and other
servicing agents. The fee is calculated at a rate of 0.175% of the
Fund's average daily net assets attributable to Class A and Class B
shares.

Total expenses paid by the Fund's Class A shares for the fiscal
year ended Oct. 31, 1996, were 1.37% of its average daily net
assets. Expenses for Class B and Class Y were 2.14% and 1.19%,
respectively.

Total fees and expenses (excluding taxes and brokerage commissions)
cannot exceed the most restrictive applicable state expense
limitation.

<PAGE>
PAGE 68
About American Express Financial Corporation

General information

The AEFC family of companies offers not only mutual funds but also
insurance, annuities, investment certificates and a broad range of
financial management services.

American Express Financial Advisors serves individuals and
businesses through its nationwide network of more than 175 offices
and more than 7,900 advisors.

Other AEFC subsidiaries provide investment management and related
services for pension, profit sharing, employee savings and
endowment funds of businesses and institutions.

Descriptions of derivative instruments

Options and futures contracts. An option is an agreement to buy or
sell an instrument at a set price during a certain period of time.
A futures contract is an agreement to buy or sell an instrument for
a set price on a future date. The Portfolio may buy and sell
options and futures contracts to manage its exposure to changing
interest rates, security prices and currency exchange rates.
Options and futures may be used to hedge the Portfolio's
investments against price fluctuations or to increase market
exposure.

Structured products. Structured products are over-the-counter
financial instruments created specifically to meet the needs of one
or a small number of investors. The instrument may consist of a
warrant, an option or a forward contract embedded in a note or any
of a wide variety of debt, equity and/or currency combinations.
Risks of structured products include the inability to close such
instruments, rapid changes in the market and defaults by other
parties.
<PAGE>
PAGE 70

IDS GLOBAL SERIES, INC.

STATEMENT OF ADDITIONAL INFORMATION

FOR

IDS GLOBAL BOND FUND

Dec. 30, 1996

This Statement of Additional Information (SAI) is not a prospectus.
It should be read together with the prospectus and the financial
statements contained in the Annual Report which may be obtained
from your American Express financial advisor or by writing to
American Express Shareholder Service, P.O. Box 534, Minneapolis, MN
55440-0534.

This SAI is dated Dec. 30, 1996, and it is to be used with the
prospectus dated Dec. 30, 1996, and the Annual Report for the
fiscal year ended Oct. 31, 1996.
<PAGE>
PAGE 71
TABLE OF CONTENTS

Goal and Investment Policies......................See Prospectus

Additional Investment Policies................................p. 3

Security Transactions.........................................p. 7

Brokerage Commissions Paid to Brokers Affiliated with
American Express Financial Corporation........................p. 9

Performance Information.......................................p. 10

Valuing Fund Shares...........................................p. 12

Investing in the Fund.........................................p. 13

Redeeming Shares..............................................p. 17

Pay-out Plans.................................................p. 18

Taxes.........................................................p. 19

Agreements....................................................p. 21

Organizational Information....................................p. 25

Board Members and Officers....................................p. 25

Compensation for the Fund Board Members.......................p. 28

Compensation for the Portfolio Board Members..................p. 29

Custodian.....................................................p. 29

Independent Auditors..........................................p. 30

Financial Statements..............................See Annual Report

Prospectus....................................................p. 30

Appendix A: Foreign Currency Transactions....................p. 31

Appendix B: Options and Futures Contracts....................p. 36

Appendix C: Mortgage-Backed Securities.......................p. 43

Appendix D: Dollar-Cost Averaging............................p. 44
<PAGE>
PAGE 72
ADDITIONAL INVESTMENT POLICIES

The Fund pursues its goal by investing all of its assets in World
Income Portfolio (the "Portfolio") of the World Trust (the
"Trust"), a separate investment company, rather than by directly
investing in and managing its own portfolio of securities. The
Portfolio has the same investment objectives, policies and
restrictions as the Fund.

Fundamental investment policies adopted by the Fund or Portfolio
cannot be changed without the approval of a majority of the
outstanding voting securities of the Fund or Portfolio, as defined
in the Investment Company Act of 1940. Whenever the Fund is
requested to vote on a change in the investment policies of the
corresponding Portfolio, the Fund will hold a meeting of Fund
shareholders and will cast the Fund's vote as instructed by the
shareholders.

Notwithstanding any of the Fund's other investment policies, the
Fund may invest its assets in an open-end management investment
company having substantially the same investment objectives,
policies and restrictions as the Fund for the purpose of having
those assets managed as part of a combined pool.

These are investment policies in addition to those presented in the
prospectus. The policies below are fundamental policies of the
Fund and the Portfolio and may be changed only with shareholder
approval. Unless holders of a majority of the outstanding voting
securities agree to make the change, the Fund and the Portfolio
will not:

'Act as an underwriter (sell securities for others). However,
under the securities laws, the Portfolio may be deemed to be an
underwriter when it purchases securities directly from the issuer
and later resells them.

'Make cash loans if the total commitment amount exceeds 5% of the
Portfolio's total assets.

'Borrow money or property, except as a temporary measure for
extraordinary or emergency purposes, in an amount not exceeding
one-third of the market value of its total assets (including
borrowings) less liabilities (other than borrowings) immediately
after the borrowing. The Portfolio has not borrowed in the past
and has no present intention to borrow.

'Concentrate in any one industry. According to the present
interpretation by the Securities and Exchange Commission (SEC),
this means no more than 25% of the Portfolio's total assets, based
on current market value at time of purchase, can be invested in any
one industry.

'Purchase more than 10% of the outstanding voting securities of an
issuer.
<PAGE>
PAGE 73

'Buy or sell real estate, unless acquired as a result of ownership
of securities or other instruments, except this shall not prevent
the Portfolio from investing in securities or other instruments
backed by real estate or securities of companies engaged in the
real estate business or real estate investment trusts. For
purposes of this policy, real estate includes real estate limited
partnerships.

'Buy or sell physical commodities unless acquired as a result of
ownership of securities or other instruments, except this shall not
prevent the Portfolio from buying or selling options and futures
contracts or from investing in securities or other instruments
backed by, or whose value is derived from, physical commodities.

'Make a loan of any part of its assets to American Express
Financial Corporation, (AEFC), to the board members and officers of
AEFC or to its own board members and officers.

'Purchase securities of an issuer if the board members and officers
of the Fund, the Portfolio and of AEFC hold more than a certain
percentage of the issuer's outstanding securities. If the holdings
of all board members and officers of the Fund, the Portfolio and
AEFC who own more than 0.5% of an issuer's securities are added
together, and if in total they own more than 5%, the Portfolio will
not purchase securities of that issuer.

'Lend Portfolio securities in excess of 30% of its net assets. The
current policy of the Portfolio's board is to make these loans,
either long- or short-term, to broker-dealers. In making loans,
the Portfolio gets the market price in cash, U.S. government
securities, letters of credit or such other collateral as may be
permitted by regulatory agencies and approved by the board. If the
market price of the loaned securities goes up, the Portfolio will
get additional collateral on a daily basis. The risks are that the
borrower may not provide additional collateral when required or
return the securities when due. During the existence of the loan,
the Portfolio receives cash payments equivalent to all interest or
other distributions paid on the loaned securities. A loan will not
be made unless the investment manager believes the opportunity for
additional income outweighs the risks.

'Issue senior securities, except to the extent that borrowing from
banks and using options, foreign currency forward contracts or
future contracts (as discussed elsewhere in the Portfolio's
prospectus and SAI) may be deemed to constitute issuing a senior
security.

Unless changed by the board, the Fund and the Portfolio will not:

'Buy on margin or sell short, but it may make margin payments in
connection with transactions in futures contracts.

'Pledge or mortgage its assets beyond 15% of total assets. If the
Portfolio were ever to do so, valuation of the pledged or mortgaged
assets would be based on market values. For purposes of this <PAGE>
PAGE 74
restriction, collateral arrangements for margin deposits on futures
contracts are not deemed to be a pledge of assets.

'Invest more than 5% of its total assets in securities of domestic
or foreign companies, including any predecessors, that have a
record of less than three years continuous operations.

'Invest more than 10% of its total assets in securities of
investment companies. Under one state's law, the Portfolio is
limited to investments in the open market where no commission or
profit to a sponsor or dealer results from the purchase other than
the customary broker's commission, or when the purchase is part of
a plan or merger, consolidation, reorganization or acquisition.
The Portfolio has no current intention to invest in securities of
other investment companies.

'Invest in a company to control or manage it.

'Invest in exploration or development programs, such as oil, gas or
mineral leases.

'Invest more than 5% of its net assets in warrants. Under one
state's law no more than 2% of the Portfolio's net assets may be
invested in warrants not listed on the New York or American Stock
Exchange.

'Invest more than 10% of its net assets in securities and
derivative instruments that are illiquid. For purposes of this
policy illiquid securities include some privately placed
securities, public securities and Rule 144A securities that for one
reason or another may no longer have a readily available market,
loans and loan participations, repurchase agreements with
maturities greater than seven days, non-negotiable fixed-time
deposits and over-the-counter options.

In determining the liquidity of Rule 144A securities, which are
unregistered securities offered to qualified institutional buyers,
and interest-only and principal-only fixed mortgage-backed
securities (IOs and POs) issued by the U.S. government or its
agencies and instrumentalities, the investment manager, under
guidelines established by the board, will consider any relevant
factors including the frequency of trades, the number of dealers
willing to purchase or sell the security and the nature of
marketplace trades.

In determining the liquidity of commercial paper issued in
transactions not involving a public offering under Section 4(2) of
the Securities Act of 1933, the investment manager, under
guidelines established by the board, will evaluate relevant factors
such as the issuer and the size and nature of its commercial paper
programs, the willingness and ability of the issuer or dealer to
repurchase the paper, and the nature of the clearance and
settlement procedures for the paper.

<PAGE>
PAGE 75

Loans, loan participations and interests in securitized loan pools
are interests in amounts owed by a corporate, governmental or other
borrower to a lender or consortium of lenders (typically banks,
insurance companies, investment banks, government agencies or
international agencies). Loans involve a risk of loss in case of
default or insolvency of the borrower and may offer less legal
protection to the Portfolio in the event of fraud or
misrepresentation. In addition, loan participations involve a risk
of insolvency of the lender or other financial intermediary.

The Portfolio may make contracts to purchase securities for a fixed
price at a future date beyond normal settlement time (when-issued
securities or forward commitments). Under normal market
conditions, the Portfolio does not intend to commit more than 5% of
its total assets to these practices. The Portfolio does not pay
for the securities or receive dividends or interest on them until
the contractual settlement date. The Portfolio will designate cash
or liquid high-grade debt securities at least equal in value to its
commitments to purchase the securities. When-issued securities or
forward commitments are subject to market fluctuations and they may
affect the Portfolio's total assets the same as owned securities.

The Portfolio may maintain a portion of its assets in cash and
cash-equivalent investments. The cash-equivalent investments the
Portfolio may use are short-term U.S. and Canadian government
securities and negotiable certificates of deposit, non-negotiable
fixed-time deposits, bankers' acceptances and letters of credit of
banks or savings and loan associations having capital, surplus and
undivided profits (as of the date of its most recently published
annual financial statements) in excess of $100 million (or the
equivalent in the instance of a foreign branch of a U.S. bank) at
the date of investment. The Portfolio also may purchase short-term
notes and obligations (rated in the top two classifications by
Moody's Investors Service, Inc. (Moody's) or Standard & Poor's
Corporation (S&P) or the equivalent) of U.S. and foreign banks and
corporations and may use repurchase agreements with broker-dealers
registered under the Securities Exchange Act of 1934 and with
commercial banks. A risk of a repurchase agreement is that if the
seller seeks the protection of the bankruptcy laws, the Portfolio's
ability to liquidate the security involved could be impaired. As a
temporary investment, during periods of weak or declining market
values for the securities in which the Portfolio invests, any
portion of its assets may be converted to cash (in foreign
currencies or U.S. dollars) or to the kinds of short-term debt
securities discussed in this paragraph.

For a discussion about foreign currency transactions, see Appendix
A. For a discussion on options and futures contracts, see Appendix
B. For a discussion on mortgage-backed securities, see Appendix C.

<PAGE>
PAGE 76

SECURITY TRANSACTIONS

Subject to policies set by the board, AEFC is authorized to
determine, consistent with the Fund's investment goal and policies,
which securities will be purchased, held or sold. In determining
where the buy and sell orders are to be placed, AEFC has been
directed to use its best efforts to obtain the best available price
and the most favorable execution except where otherwise authorized
by the board. In selecting broker-dealers to execute transactions,
AEFC may consider the price of the security, including commission
or mark-up, the size and difficulty of the order, the reliability,
integrity, financial soundness and general operation and execution
capabilities of the broker, the broker's expertise in particular
markets, and research services provided by the broker.

AEFC has a strict Code of Ethics that prohibits its affiliated
personnel from engaging in personal investment activities that
compete with or attempt to take advantage of planned portfolio
transactions for any fund or trust for which it acts as investment
manager. AEFC carefully monitors compliance with its Code of
Ethics.

On occasion, it may be desirable to compensate a broker for
research services or for brokerage services by paying a commission
that might not otherwise be charged or a commission in excess of
the amount another broker might charge. The board has adopted a
policy authorizing AEFC to do so to the extent authorized by law,
if AEFC determines, in good faith, that such commission is
reasonable in relation to the value of the brokerage or research
services provided by a broker or dealer, viewed either in the light
of that transaction or AEFC's overall responsibilities to the funds
in the IDS MUTUAL FUND GROUP and other funds for which it acts as
investment advisor.

Research provided by brokers supplements AEFC's own research
activities. Such services include economic data on, and analysis
of, U.S. and foreign economies; information on specific industries;
information about specific companies, including earnings estimates;
purchase recommendations for stocks and bonds; portfolio strategy
services; political, economic, business and industry trend
assessments; historical statistical information; market data
services providing information on specific issues and prices; and
technical analysis of various aspects of the securities markets,
including technical charts. Research services may take the form of
written reports, computer software or personal contact by telephone
or at seminars or other meetings. AEFC has obtained, and in the
future may obtain, computer hardware from brokers, including but
not limited to personal computers that will be used exclusively for
investment decision-making purposes, which include the research,
portfolio management and trading functions and other services to
the extent permitted under an interpretation by the SEC.

three procedures have been authorized. One procedure permits AEFC
to direct an order to buy or sell a security traded on a national
securities exchange to a specific broker for research services it
has provided. The second procedure permits AEFC, in order to
obtain research, to direct an order on an agency basis to buy or
sell a security traded in the over-the-counter market to a firm
that does not make a market in that security. The commission paid
generally includes compensation for research services. The third
procedure permits AEFC, in order to obtain research and brokerage
services, to cause the Portfolio to pay a commission in excess of
the amount another broker might have charged. AEFC has advised the
Portfolio it is necessary to do business with a number of brokerage
firms on a continuing basis to obtain such services as the handling
of large orders, the willingness of a broker to risk its own money
by taking a position in a security, and the specialized handling of
a particular group of securities that only certain brokers may be
able to offer. As a result of this arrangement, some portfolio
transactions may not be effected at the lowest commission, but AEFC
believes it may obtain better overall execution. AEFC has assured
the Portfolio that under all three procedures the amount of
commission paid will be reasonable and competitive in relation to
the value of the brokerage services performed or research provided.

All other transactions shall be placed on the basis of obtaining
the best available price and the most favorable execution. In so
doing, if in the professional opinion of the person responsible for
selecting the broker or dealer, several firms can execute the
transaction on the same basis, consideration will be given by such
person to those firms offering research services. Such services
may be used by AEFC in providing advice to all the funds in the IDS
MUTUAL FUND GROUP even though it is not possible to relate the
benefits to any particular fund or account.

Each investment decision made for the Fund is made independently
from any decision made for another portfolio, fund or other account
advised by AEFC or any of its subsidiaries. When the Portfolio
buys or sells the same security as another portfolio, fund or
account, AEFC carries out the purchase or sale in a way the
Portfolio agrees in advance is fair. Although sharing in large
transactions may adversely affect the price or volume purchased or
sold by the Portfolio, the Portfolio hopes to gain an overall
advantage in execution. AEFC has assured the Portfolio it will
continue to seek ways to reduce brokerage costs.

On a periodic basis, AEFC makes a comprehensive review of the
broker-dealers and the overall reasonableness of their commissions.
The review evaluates execution, operational efficiency and research
services.

The Portfolio paid total brokerage commissions of $1,884 for the
fiscal year ended Oct. 31, 1996, $11,918 for fiscal year 1995, and
$46,364 for fiscal year 1994. Substantially all firms through whom
transactions were executed provide research services.

<PAGE>
PAGE 78

No transactions were directed to brokers because of research
services they provided to the Fund.

As of the fiscal year ended Oct. 31, 1996, the Fund held securities
of its regular brokers or dealers or of the parent of those brokers
or dealers that derived more than 15% of gross revenue from
securities-related activities as presented below:

Value of Securities
Owned at End of
Name of Issuer Fiscal Year
Dean Witter $4,298,104
First Chicago 4,997,083

The portfolio turnover rate was 49% in the fiscal year ended Oct.
31, 1996, and 92% in fiscal year 1995.

BROKERAGE COMMISSIONS PAID TO BROKERS AFFILIATED WITH AMERICAN
EXPRESS FINANCIAL CORPORATION

Affiliates of American Express Company (American Express) (of which
AEFC is a wholly owned subsidiary) may engage in brokerage and
other securities transactions on behalf of the Portfolio according
to procedures adopted by the Portfolio's board and to the extent
consistent with applicable provisions of the federal securities
laws. AEFC will use an American Express affiliate only if (i) AEFC
determines that the Portfolio will receive prices and executions at
least as favorable as those offered by qualified independent
brokers performing similar brokerage and other services for the
Portfolio and (ii) the affiliate charges the Portfolio commission
rates consistent with those the affiliate charges comparable
unaffiliated customers in similar transactions and if such use is
consistent with terms of the Investment Management Services
Agreement.

AEFC may direct brokerage to compensate an affiliate. AEFC will
receive research on South Africa from New Africa Advisors, a
wholly-owned subsidiary of Sloan Financial Group. AEFC owns 100%
of IDS Capital Holdings Inc. which in turn owns 40% of Sloan
Financial Group. New Africa Advisors will send research to AEFC
and in turn AEFC will direct trades to a particular broker. The
broker will have an agreement to pay New Africa Advisors. All
transactions will be on a best execution basis. Compensation
received will be reasonable for the services rendered.<PAGE>
PAGE 79

Information about brokerage commissions paid by the Portfolio for
the last three fiscal years to brokers affiliated with AEFC is
contained in the following table:
<TABLE><CAPTION>

For the Fiscal Year Ended Oct. 31

1996 1995 1994
Aggregate Percent of Aggregate Aggregate
Dollar Aggregate Dollar Dollar Dollar
Amount of Percent of Amount of Amount of Amount of
Nature Commissions Aggregate Transactions Commissions Commissions
of Paid to Brokerage Involving Payment Paid to Paid to
Broker Affiliation Broker Commissions of Commissions Broker Broker
<S> <C> <C> <C> <C> <C> <C>
Lehman
Brothers, Inc. (1) None None None None $ 360

American
Enterprise
Investment
Services Inc. (2) None None None None 7,465
</TABLE>
(1) Under common control with AEFC as a subsidiary of American
Express until May 31, 1994.
(2) Wholly owned subsidiary of AEFC.

PERFORMANCE INFORMATION

The Fund may quote various performance figures to illustrate past
performance. Average annual total return and current yield
quotations used by the Fund are based on standardized methods of
computing performance as required by the SEC. An explanation of
the methods used by the Fund to compute performance follows below.

Average annual total return

The Fund may calculate average annual total return for a class for
certain periods by finding the average annual compounded rates of
return over the period that would equate the initial amount
invested to the ending redeemable value, according to the following
formula:

P(1+T)n = ERV

where: P = a hypothetical initial payment of $1,000
T = average annual total return
n = number of years
ERV = ending redeemable value of a hypothetical $1,000
payment, made at the beginning of a period, at the
end of the period (or fractional portion thereof)

Aggregate total return

The Fund may calculate aggregate total return for a class for
certain periods representing the cumulative change in the value of
an investment in the Fund over a specified period of time according
to the following formula:<PAGE>
PAGE 80
ERV - P
P

where: P = a hypothetical initial payment of $1,000
ERV = ending redeemable value of a hypothetical $1,000
payment, made at the beginning of a period, at the
end of the period (or fractional portion thereof)

Annualized yield

The Fund may calculate an annualized yield for a class by dividing
the net investment income per share deemed earned during a period
by the net asset value per share on the last day of the period and
annualizing the results.

Yield is calculated according to the following formula:

Yield = 2[(a-b + 1)6 - 1]
cd

where: a = dividends and interest earned during the period
b = expenses accrued for the period (net of
reimbursements
c = the average daily number of shares outstanding
during the period that were entitled to receive
dividends
d = the maximum offering price per share on the last
day of the period

The Fund's annualized yield was 5.53% for Class A, 5.06% for Class
B and 6.24% for Class Y for the 30-day period ended Oct. 31, 1996.

The Fund's yield, calculated as described above according to the
formula prescribed by the SEC, is a hypothetical return based on
market value yield to maturity for the Fund's securities. It is
not necessarily indicative of the amount which was or may be paid
to the Fund's shareholders. Actual amounts paid to Fund
shareholders are reflected in the distribution yield.

Distribution yield

Distribution yield is calculated according to the following
formula:

D divided by POP F equals DY
30 30

where: D = sum of dividends for 30-day period
POP = sum of public offering price for 30-day period
F = annualizing factor
DY = distribution yield

The Fund's distribution yield was 5.03% for Class A, 4.52% for
Class B and 5.47% for Class Y for the 30-day period ended Oct. 31,
1996. <PAGE>
PAGE 81

In its sales material and other communications, the Fund may quote,
compare or refer to rankings, yields or returns as published by
independent statistical services or publishers and publications
such as The Bank Rate Monitor National Index, Barron's, Business
Week, Donoghue's Money Market Fund Report, Financial Services Week,
Financial Times, Financial World, Forbes, Fortune, Global Investor,
Institutional Investor, Investor's Daily, Kiplinger's Personal
Finance, Lipper Analytical Services, Money, Morningstar, Mutual
Fund Forecaster, Newsweek, The New York Times, Personal Investor,
Stanger Report, Sylvia Porter's Personal Finance, USA Today, U.S.
News and World Report, The Wall Street Journal and Wiesenberger
Investment Companies Service.

VALUING FUND SHARES

Net assets before Shares outstanding Net asset value
shareholder transactions at end of previous day of one share
<S> <C> <C> <C> <C> <C>
Class A $689,735,460 divided by 109,655,876 equals $6.29
Class B 141,346,125 22,471,562 6.29
Class Y 1,063 169 6.29
</TABLE>
In determining net assets before shareholder transactions, the
Portfolio's securities are valued as follows as of the close of
business of the New York Stock Exchange (the Exchange):

'Securities, except bonds other than convertibles, traded on a
securities exchange for which a last-quoted sales price is readily
available are valued at the last-quoted sales price on the exchange
where such security is primarily traded.

'Securities traded on a securities exchange for which a last-quoted
sales price is not readily available are valued at the mean of the
closing bid and asked prices, looking first to the bid and asked
prices on the exchange where the security is primarily traded and,
if none exist, to the over-the-counter market.

'Securities included in the NASDAQ National Market System are
valued at the last-quoted sales price in this market.

'Securities included in the NASDAQ National Market System for which
a last-quoted sales price is not readily available, and other
securities traded over-the-counter but not included in the NASDAQ
National Market System are valued at the mean of the closing bid
and asked prices.

'Futures and options traded on major exchanges are valued at the
last-quoted sales price on their primary exchange.

'Foreign securities traded outside the United States are generally
valued as of the time their trading is complete, which is usually
different from the close of the Exchange. Foreign securities <PAGE>
PAGE 82
quoted in foreign currencies are translated into U.S. dollars at
the current rate of exchange. Occasionally, events affecting the
value of such securities may occur between such times and the close
of the Exchange that will not be reflected in the computation of
the Fund's net asset value. If events materially affecting the
value of such securities occur during such period, these securities
will be valued at their fair value according to procedures decided
upon in good faith by the board.

'Short-term securities maturing more than 60 days from the
valuation date are valued at the readily available market price or
approximate market value based on current interest rates. Short-
term securities maturing in 60 days or less that originally had
maturities of more than 60 days at acquisition date are valued at
amortized cost using the market value on the 61st day before
maturity. Short-term securities maturing in 60 days or less at
acquisition date are valued at amortized cost. Amortized cost is
an approximation of market value determined by systematically
increasing the carrying value of a security if acquired at a
discount, or reducing the carrying value if acquired at a premium,
so that the carrying value is equal to maturity value on the
maturity date.

'Securities without a readily available market price, bonds other
than convertibles and other assets are valued at fair value as
determined in good faith by the board. The board is responsible
for selecting methods it believes provide fair value. When
possible, bonds are valued by a pricing service independent from
the Portfolio. If a valuation of a bond is not available from a
pricing service, the bond will be valued by a dealer knowledgeable
about the bond if such a dealer is available.

The Exchange, AEFC and the Fund will be closed on the following
holidays: New Year's Day, Memorial Day, Independence Day, Labor
Day, Thanksgiving Day and Christmas Day.

INVESTING IN THE FUND

Sales Charge

Shares of the Fund are sold at the public offering price determined
at the close of business on the day an application is accepted.
The public offering price is the net asset value of one share plus
a sales charge, if applicable. For Class B and Class Y, there is
no initial sales charge so the public offering price is the same as
the net asset value. For Class A, the public offering price for an
investment of less than $50,000, made Nov. 1, 1996, was determined
by dividing the net asset value of one share, $6.29, by 0.95 (1.00-
0.05 for a maximum 5% sales charge) for a public offering price of
$6.62. The sales charge is paid to American Express Financial
Advisors by the person buying the shares.

<PAGE>
PAGE 83
Class A - Calculation of the Sales Charge

Sales charges are determined as follows:

Within each increment,
sales charge as a
percentage of:
Public Net
Amount of Investment Offering Price Amount Invested

First $ 50,000 5.0% 5.26%
Next 50,000 4.5 4.71
Next 400,000 3.8 3.95
Next 500,000 2.0 2.04
$1,000,000 or more 0.0 0.00

Sales charges on an investment greater than $50,000 and less than
$1,000,000 are calculated for each increment separately and then
totaled. The resulting total sales charge, expressed as a
percentage of the public offering price and of the net amount
invested, will vary depending on the proportion of the investment
at different sales charge levels.

For example, compare an investment of $60,000 with an investment of
$85,000. The $60,000 investment is composed of $50,000 that incurs
a sales charge of $2,500 (5.0% x $50,000) and $10,000 that incurs a
sales charge of $450 (4.5% x $10,000). The total sales charge of
$2,950 is 4.92% of the public offering price and 5.17% of the net
amount invested.

In the case of the $85,000 investment, the first $50,000 also
incurs a sales charge of $2,500 (5.0% x $50,000) and $35,000 incurs
a sales charge of $1,575 (4.5% x $35,000). The total sales charge
of $4,075 is 4.79% of the public offering price and 5.04% of the
net amount invested.

The following table shows the range of sales charges as a
percentage of the public offering price and of the net amount
invested on total investments at each applicable level.

On total investment, sales
charge as a percentage of
Public Net
Offering Price Amount Invested
Amount of Investment ranges from:

First $ 50,000 5.00% 5.26%
More than 50,000 to 100,000 5.00-4.50 5.26-4.71
More than 100,000 to 500,000 4.50-3.80 4.71-3.95
More than 500,000 to 999,999 3.80-2.00 3.95-2.04
$1,000,000 or more 0.00 0.00

The initial sales charge is waived for certain qualified plans that
meet the requirements described in the prospectus. Participants in
these qualified plans may be subject to a deferred sales charge on <PAGE>
PAGE 84
certain redemptions. The deferred sales charge on certain
redemptions will be waived if the redemption is a result of a
participant's death, disability, retirement, attaining age 59 1/2,
loans or hardship withdrawals. The deferred sales charge varies
depending on the number of participants in the qualified plan and
total plan assets as follows:

Deferred Sales Charge

Number of Participants

Total Plan Assets 1-99 100 or more

Less than $1 million 4% 0%

$1 million or more 0% 0%
_________________________________________________________

Class A - Reducing the Sales Charge

Sales charges are based on the total amount of your investments in
the Fund. The amount of all prior investments plus any new
purchase is referred to as your "total amount invested." For
example, suppose you have made an investment of $20,000 and later
decide to invest $40,000 more. Your total amount invested would be
$60,000. As a result, $10,000 of your $40,000 investment qualifies
for the lower 4.5% sales charge that applies to investments of more
than $50,000 and up to $100,000.

The total amount invested includes any shares held in the Fund in
the name of a member of your primary household group. (The primary
household group consists of accounts in any ownership for spouses
or domestic partners and their unmarried children under 21.
Domestic partners are individuals who maintain a shared primary
residence and have joint property or other insurable interests.
For instance, if your spouse already has invested $20,000 and you
want to invest $40,000, your total amount invested will be $60,000
and therefore you will pay the lower charge of 4.5% on $10,000 of
the $40,000.

Until a spouse remarries, the sales charge is waived for spouses
and unmarried children under 21 of deceased board members, officers
or employees of the Fund or AEFC or its subsidiaries and deceased
advisors.

The total amount invested also includes any investment you or your
immediate family already have in the other publicly offered funds
in the IDS MUTUAL FUND GROUP where the investment is subject to a
sales charge. For example, suppose you already have an investment
of $30,000 in another IDS Fund. If you invest $40,000 more in this
Fund, your total amount invested in the funds will be $70,000 and
therefore $20,000 of your $40,000 investment will incur a 4.5%
sales charge.

<PAGE>
PAGE 85
Finally, Individual Retirement Account (IRA) purchases, or other
employee benefit plan purchases made through a payroll deduction
plan or through a plan sponsored by an employer, association of
employers, employee organization or other similar entity, may be
added together to reduce sales charges for shares purchased through
that plan.

Class A - Letter of Intent (LOI)

If you intend to invest $1 million over a period of 13 months, you
can reduce the sales charges in Class A by filing a LOI. The
agreement can start at any time and will remain in effect for 13
months. Your investment will be charged normal sales charges until
you have invested $1 million. At that time, your account will be
credited with the sales charges previously paid. Class A
investments made prior to signing an LOI may be used to reach the
$1 million total, excluding Cash Management Fund and Tax-Free Money
Fund. However, we will not adjust for sales charges on investments
made prior to the signing of the LOI. If you do not invest $1
million by the end of 13 months, there is no penalty, you'll just
miss out on the sales charge adjustment. A LOI is not an option
(absolute right) to buy shares.

Here's an example. You file a LOI to invest $1 million and make an
investment of $100,000 at that time. You pay the normal 5% sales
charge on the first $50,000 and 4.5% sales charge on the next
$50,000 of this investment. Let's say you make a second investment
of $900,000 (bringing the total up to $1 million) one month before
the 13-month period is up. On the date that you bring your total
to $1 million, AEFC makes an adjustment to your account. The
adjustment is made by crediting your account with additional
shares, in an amount equivalent to the sales charge previously
paid.

Systematic Investment Programs

After you make your initial investment of $2,000 or more, you can
arrange to make additional payments of $100 or more on a regular
basis. These minimums do not apply to all systematic investment
programs. You decide how often to make payments - monthly,
quarterly, or semiannually. You are not obligated to make any
payments. You can omit payments or discontinue the investment
program altogether. The Fund also can change the program or end it
at any time. If there is no obligation, why do it? Putting money
aside is an important part of financial planning. With a
systematic investment program, you have a goal to work for.

How does this work? Your regular investment amount will purchase
more shares when the net asset value per share decreases, and fewer
shares when the net asset value per share increases. Each purchase
is a separate transaction. After each purchase your new shares
will be added to your account. Shares bought through these
programs are exactly the same as any other fund shares. They can
be bought and sold at any time. A systematic investment program is
not an option or an absolute right to buy shares.<PAGE>
PAGE 86
The systematic investment program itself cannot ensure a profit,
nor can it protect against a loss in a declining market. If you
decide to discontinue the program and redeem your shares when their
net asset value is less than what you paid for them, you will incur
a loss.

For a discussion on dollar-cost averaging, see Appendix D.

Automatic Directed Dividends

Dividends, including capital gain distributions, paid by another
fund in the IDS MUTUAL FUND GROUP subject to a sales charge, may be
used to automatically purchase shares in the same class of this
Fund without paying a sales charge. Dividends may be directed to
existing accounts only. Dividends declared by a fund are exchanged
to this Fund the following day. Dividends can be exchanged into
one fund but cannot be split to make purchases in two or more
funds. Automatic directed dividends are available between accounts
of any ownership except:

Between a non-custodial account and an IRA, or 401(k) plan account
or other qualified retirement account of which American Express
Trust Company acts as custodian;

Between two American Express Trust Company custodial accounts with
different owners (for example, you may not exchange dividends from
your IRA to the IRA of your spouse);

Between different kinds of custodial accounts with the same
ownership (for example, you may not exchange dividends from your
IRA to your 401(k) plan account, although you may exchange
dividends from one IRA to another IRA).

Dividends may be directed from accounts established under the
Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors
Act (UTMA) only into other UGMA or UTMA accounts with identical
ownership.

The Fund's investment goal is described in its prospectus along
with other information, including fees and expense ratios. Before
exchanging dividends into another fund, you should read its
prospectus. You will receive a confirmation that the automatic
directed dividend service has been set up for your account.

REDEEMING SHARES

You have a right to redeem your shares at any time. For an
explanation of redemption procedures, please see the prospectus.

During an emergency, the board can suspend the computation of net
asset value, stop accepting payments for purchase of shares or
suspend the duty of the Fund to redeem shares for more than seven
days. Such emergency situations would occur if:

<PAGE>
PAGE 87
'The Exchange closes for reasons other than the usual weekend and
holiday closings or trading on the Exchange is restricted, or

'Disposal of the Portfolio's securities is not reasonably
practicable or it is not reasonably practicable for the Fund to
determine the fair value of its net assets, or

'The SEC, under the provisions of the Investment Company Act of
1940 (the 1940 Act), as amended, declares a period of emergency to
exist.

Should the Fund stop selling shares, the board may make a deduction
from the value of the assets held by the Fund to cover the cost of
future liquidations of the assets so as to distribute fairly these
costs among all shareholders.

The Fund has elected to be governed by Rule 18f-1 under the 1940
Act, which obligates the Fund to redeem shares in cash, with
respect to any one shareholder during any 90-day period, up to
lesser of $250,000 or 1% of the net assets of the Fund at the
beginning of the period. Although redemptions in excess of this
limitation would normally be paid in cash, the Fund reserves the
right to make these payments in whole or in part in securities or
other assets in case of an emergency, or if the payment of a
redemption in cash would be detrimental to the existing
shareholders of the Fund as determined by the board. In these
circumstances, the securities distributed would be valued as set
forth in the prospectus. Should the Fund distribute securities, a
shareholder may incur brokerage fees or other transaction costs in
converting the securities to cash.

PAY-OUT PLANS

You can use any of several pay-out plans to redeem your investment
in regular installments. If you redeem Class B shares you may be
subject to a contingent deferred sales charge as discussed in the
prospectus. While the plans differ on how the pay-out is figured,
they all are based on the redemption of your investment. Net
investment income dividends and any capital gain distributions will
automatically be reinvested, unless you elect to receive them in
cash. If you are redeeming a tax-qualified plan account for which
American Express Trust Company acts as custodian, you can elect to
receive your dividends and other distributions in cash when
permitted by law. If you redeem an IRA or a qualified retirement
account, certain restrictions, federal tax penalties and special
federal income tax reporting requirements may apply. You should
consult your tax advisor about this complex area of the tax law.

Applications for a systematic investment in a class of the Fund
subject to a sales charge normally will not be accepted while a
pay-out plan for any of those funds is in effect. Occasional
investments, however, may be accepted.

To start any of these plans, please write or call American Express
Shareholder Service, P.O. Box 534, Minneapolis, MN 55440-0534, <PAGE>
PAGE 88
612-671-3733. Your authorization must be received in the
Minneapolis headquarters at least five days before the date you
want your payments to begin. The initial payment must be at least
$50. Payments will be made on a monthly, bimonthly, quarterly,
semiannual or annual basis. Your choice is effective until you
change or cancel it.

The following pay-out plans are designed to take care of the needs
of most shareholders in a way AEFC can handle efficiently and at a
reasonable cost. If you need a more irregular schedule of
payments, it may be necessary for you to make a series of
individual redemptions, in which case you'll have to send in a
separate redemption request for each pay-out. The Fund reserves
the right to change or stop any pay-out plan and to stop making
such plans available.

Plan #1: Pay-out for a fixed period of time

If you choose this plan, a varying number of shares will be
redeemed at regular intervals during the time period you choose.
This plan is designed to end in complete redemption of all shares
in your account by the end of the fixed period.

Plan #2: Redemption of a fixed number of shares

If you choose this plan, a fixed number of shares will be redeemed
for each payment and that amount will be sent to you. The length
of time these payments continue is based on the number of shares in
your account.

Plan #3: Redemption of a fixed dollar amount

If you decide on a fixed dollar amount, whatever number of shares
is necessary to make the payment will be redeemed in regular
installments until the account is closed.

Plan #4: Redemption of a percentage of net asset value

Payments are made based on a fixed percentage of the net asset
value of the shares in the account computed on the day of each
payment. Percentages range from 0.25% to 0.75%. For example, if
you are on this plan and arrange to take 0.5% each month, you will
get $50 if the value of your account is $10,000 on the payment
date.

TAXES

If you buy shares in the Fund and then exchange into another fund,
it is considered a sale and subsequent purchase of shares. Under
the tax laws, if this exchange is done within 91 days, any sales
charge waived on Class A shares on a subsequent purchase of shares
applies to the new shares acquired in the exchange. Therefore, you
cannot create a tax loss or reduce a tax gain attributable to the
sales charge when exchanging shares within 91 days.
<PAGE>
PAGE 89

Retirement Accounts

If you have a nonqualified investment in the Fund and you wish to
move part or all of those shares to an IRA or qualified retirement
account in the Fund, you can do so without paying a sales charge.
However, this type of exchange is considered a sale of shares and
may result in a gain or loss for tax purposes. In addition, this
type of exchange may result in an excess contribution under IRA or
qualified plan regulations if the amount exchanged plus the amount
of the initial sales charge applied to the amount exchanged
exceeds annual contribution limitations. For example: If you were
to exchange $2,000 in Class A shares from a nonqualified account to
an IRA without considering the 5% ($100) initial sales charge
applicable to that $2,000, you may be deemed to have exceeded
current IRA annual contribution limitations. You should consult
your tax advisor for further details about this complex subject.

Net investment income dividends received should be treated as
dividend income for federal income tax purposes. Corporate
shareholders are generally entitled to a deduction equal to 70% of
that portion of the Fund's dividend that is attributable to
dividends the Fund received from domestic (U.S.) securities. For
the fiscal year ended Oct. 31, 1996, none of the Fund's net
investment income dividends qualified for the corporate deduction.
The exclusion for dividends received by individuals is no longer
available.

The Fund may be subject to U.S. taxes resulting from holdings in a
passive foreign investment company (PFIC). A foreign corporation
is a PFIC when 75% or more of its gross income for the taxable year
is passive income or 50% or more of the average value of its assets
consists of assets that produce or could produce passive income.

Income earned by the Fund may have had foreign taxes imposed and
withheld on it in foreign countries. Tax conventions between
certain countries and the United States may reduce or eliminate
such taxes. If more than 50% of the Fund's total assets at the
close of its fiscal year consists of securities of foreign
corporations, the Fund will be eligible to file an election with
the Internal Revenue Service under which shareholders of the Fund
would be required to include their pro rata portions of foreign
taxes withheld by foreign countries as gross income in their
federal income tax returns. These pro rata portions of foreign
taxes withheld may be taken as a credit or deduction in computing
federal income taxes. If the election is filed, the Fund will
report to its shareholders the per share amount of such foreign
taxes withheld and the amount of foreign tax credit or deduction
available for federal income tax purposes.

Capital gain distributions received by individual and corporate
shareholders, if any, should be treated as long-term capital gains
regardless of how long they owned their shares. Short-term capital
gains earned by the Fund are paid to shareholders as part of their
ordinary income dividend and are taxable.<PAGE>
PAGE 90
Under the Internal Revenue Code of 1986 (the Code), gains or losses
attributable to fluctuations in exchange rates which occur between
the time the Fund accrues interest or other receivables, or accrues
expenses or other liabilities denominated in a foreign currency and
the time the Fund actually collects such receivables or pays such
liabilities generally are treated as ordinary income or ordinary
loss. Similarly, gains or losses on disposition of debt securities
denominated in a foreign currency attributable to fluctuations in
the value of the foreign currency between the date of acquisition
of the security and the date of disposition also are treated as
ordinary gains or losses. These gains or losses, referred to under
the Code as "section 988" gains or losses, may increase or decrease
the amount of the Fund's investment company taxable income to be
distributed to its shareholders as ordinary income. If the Fund
incurs a loss, a portion of the dividends distributed to
shareholders may be considered a return of capital.

Under federal tax law, by the end of a calendar year the Fund must
declare and pay dividends representing 98% of ordinary income for
that calendar year and 98% of net capital gains (both long-term and
short-term) for the 12-month period ending Oct. 31 of that calendar
year. The Fund is subject to an excise tax equal to 4% of the
excess, if any, of the amount required to be distributed over the
amount actually distributed. The Fund intends to comply with
federal tax law and avoid any excise tax.

For purposes of the excise tax distributions, "section 988"
ordinary gains and losses are distributable based on an Oct. 31
year end. This is an exception to the general rule that ordinary
income is paid based on a calendar year end.

This is a brief summary that relates to federal income taxation
only. Shareholders should consult their tax advisor as to the
application of federal, state and local income tax laws to Fund
distributions.

AGREEMENTS

Investment Management Services Agreement

The Trust, on behalf of the Portfolio, has an Investment Management
Services Agreement with AEFC. For its services, AEFC is paid a fee
based on the following schedule:

Assets Annual rate at
(billions) each asset level

First $0.25 0.770%
Next 0.25 0.745
Next 0.25 0.720
Next 0.25 0.695
Over 1.0 0.670

On Oct. 31, 1996, the daily rate applied to the Portfolio's net
assets was equal to 0.740% on an annual basis. The fee is <PAGE>
PAGE 91
calculated for each calendar day on the basis of net assets as of
the close of business two business days prior to the day for which
the calculation is made.

The management fee is paid monthly. Under the agreement, the total
amount paid was $5,290,110 for the fiscal year ended Oct. 31, 1996,
$3,930,646 for fiscal year 1995, and $3,414,109 for fiscal year
1994.

Under the agreement, the Portfolio also pays taxes, brokerage
commissions and nonadvisory expenses, which include custodian fees;
audit and certain legal fees; fidelity bond premiums; registration
fees for shares; office expenses; postage of confirmations except
purchase confirmations; consultants' fees; compensation of board
members, officers and employees; corporate filing fees;
organizational expenses; expenses incurred in connection with
lending securities of the Portfolio; and expenses properly payable
by the Portfolio, approved by the board. Under the agreement, the
nonadvisory expenses paid by the Fund and the Portfolio were
$619,623 for the fiscal year ended Oct. 31, 1996, $632,116 for
fiscal year 1995, and $641,964 for fiscal year 1994.

In this section prior to May 13, 1996, the fees and expenses
described were paid directly by the Fund. After that date, the
management fees were paid by the Portfolio.

Administrative Services Agreement

The Fund has an Administrative Services Agreement with AEFC. Under
this agreement, the Fund pays AEFC for providing administration and
accounting services. The fee is calculated as follows:

Assets Annual rate
(billions) each asset level

First $0.25 0.060%
Next 0.25 0.055
Next 0.25 0.050
Next 0.25 0.045
Over 1.0 0.040

On Oct. 31, 1996, the daily rate applied to the Fund's net assets
was equal to 0.054% on an annual basis. The fee is calculated for
each calendar day on the basis of net assets as of the close of
business two business days prior to the day for which the
calculation is made. Under the agreement, the Fund paid fees of
$390,216 for the fiscal year ended Oct. 31, 1996.

Transfer Agency Agreement

with the issuance, exchange and redemption or repurchase of the
Fund's shares. Under the agreement, AEFC will earn a fee from the
Fund determined by multiplying the number of shareholder accounts
at the end of the day by a rate determined for each class per year
and dividing by the number of days in the year. The rate for Class
A and Class Y is $15.50 per year and for Class B is $16.50 per
year. The fees paid to AEFC may be changed from time to time upon
agreement of the parties without shareholder approval. Under the
agreement, the Fund paid fees of $1,005,794 for the fiscal year
ended Oct. 31, 1996.

Distribution Agreement

Under a Distribution Agreement, sales charges deducted for
distributing Fund shares are paid to American Express Financial
Advisors daily. These charges amounted to $3,631,422 for the
fiscal year ended Oct. 31, 1996. After paying commissions to
personal financial advisors, and other expenses, the amount
retained was $-221,637. The amounts were $2,844,025 and $436,482
for fiscal year 1995, and $8,125,263 and $2,870,520 for fiscal year
1994.

Additional information about commissions and compensation for the
fiscal year ended Oct. 31, 1996, is contained in the following
table:
<TABLE><CAPTION>

(1) (2) (3) (4) (5)
Net Compensation
Name of Underwriting on Redemption
Principal Discounts and and Brokerage Other
Underwriter Commissions Repurchases Commissions Compensation
<S> <C> <C> <C> <C>
AEFC None None None $655,522*

American
Express
Financial
Advisors $3,631,422 None None None

*Distribution fees paid pursuant to the Plan and Agreement of
Distribution.
</TABLE>
Shareholder Service Agreement

The Fund pays a fee for service provided to shareholders by
financial advisors and other servicing agents. The fee is
calculated at a rate of 0.175% of the Fund's average daily net
assets attributable to Class A and Class B shares.

Plan and Agreement of Distribution

For Class B shares, to help American Express Financial Advisors
defray the cost of distribution and servicing, not covered by the
sales charges received under the Distribution Agreement, the Fund
and American Express Financial Advisors entered into a Plan and
<PAGE>
PAGE 93
Agreement of Distribution (Plan). These costs cover almost all
aspects of distributing the Fund's shares except compensation to
the sales force. A substantial portion of the costs are not
specifically identified to any one fund in the IDS MUTUAL FUND
GROUP. Under the Plan, American Express Financial Advisors is paid
a fee at an annual rate of 0.75% of the Fund's average daily net
assets attributable to Class B shares.

The Plan must be approved annually by the board, including a
majority of the disinterested board members, if it is to continue
for more than a year. At least quarterly, the board must review
written reports concerning the amounts expended under the Plan and
the purposes for which such expenditures were made. The Plan and
any agreement related to it may be terminated at any time by vote
of a majority of board members who are not interested persons of
the Fund and have no direct or indirect financial interest in the
operation of the Plan or in any agreement related to the Plan, or
by vote of a majority of the outstanding voting securities of the
Fund's Class B shares or by American Express Financial Advisors.
The Plan (or any agreement related to it) will terminate in the
event of its assignment, as that term is defined in the 1940 Act,
as amended. The Plan may not be amended to increase the amount to
be spent for distribution without shareholder approval, and all
material amendments to the Plan must be approved by a majority of
the board members, including a majority of the board members who
are not interested persons of the Fund and who do not have a
financial interest in the operation of the Plan or any agreement
related to it. The selection and nomination of disinterested board
members is the responsibility of the other disinterested board
members. No board member who is not an interested person, has any
direct or indirect financial interest in the operation of the Plan
or any related agreement. For the fiscal year ended Oct. 31, 1996,
under the agreement, the Fund paid fees of $655,522.

Total fees and expenses

Total combined fees and nonadvisory expenses of both the Fund and
the Portfolio cannot exceed the most restrictive applicable state
limitation. Currently, the most restrictive applicable state
expense limitation, subject to exclusion of certain expenses, is
2.5% of the first $30 million of the Fund's average daily net
assets, 2% of the next $70 million and 1.5% of average daily net
assets over $100 million, on an annual basis. At the end of each
month, if the fees and expenses of the Fund exceed this limitation
for the Fund's fiscal year in progress, AEFC will assume all
expenses in excess of the limitation. AEFC then may bill the Fund
for such expenses in subsequent months up to the end of that fiscal
year, but not after that date. No interest charges are assessed by
AEFC for expenses it assumes. The Fund paid total fees and
nonadvisory expenses of $9,186,190 for the fiscal year ended Oct.
31, 1996.

<PAGE>
PAGE 94
ORGANIZATIONAL INFORMATION

IDS Global Series, Inc., of which IDS Global Bond Fund is a part,
is an open-end management company, as defined in the Investment
Company Act of 1940. It was incorporated on Oct. 28, 1988 in
Minnesota. The Fund headquarters are at 901 S. Marquette Ave.,
Suite 2810, Minneapolis, MN 55402-3268.

BOARD MEMBERS AND OFFICERS

The following is a list of the Fund's board members who, except for
Mr. Dudley, are also board members and officers of all other funds
in the IDS MUTUAL FUND GROUP. Mr. Dudley is a board member of the
47 publicly offered funds. The board members and officers also are
board members and officers of all five trusts in the Preferred
Master Trust Group. All shares have cumulative voting rights with
respect to the election of board members.

H. Brewster Atwater, Jr.
Born in 1931
4900 IDS Tower
Minneapolis, MN

Former chairman and chief executive officer, General Mills, Inc.
Director, Merck & Co., Inc. and Darden Restaurants, Inc.

Lynne V. Cheney'
Born in 1941
American Enterprise Institute
for Public Policy Research (AEI)
1150 17th St., N.W.
Washington, D.C.

Distinguished Fellow AEI. Former Chair of National Endowment of
the Humanities. Director, The Reader's Digest Association Inc.,
Lockheed-Martin, the Interpublic Group of Companies, Inc.
(advertising), and FPL Group, Inc. (holding company for Florida
Power and Light).

William H. Dudley**
Born in 1932
2900 IDS Tower
Minneapolis, MN

Executive vice president and director of AEFC.

Robert F. Froehlke+
Born in 1922
1201 Yale Place
Minneapolis, MN

Former president of all funds in the IDS MUTUAL FUND GROUP.
Director, the ICI Mutual Insurance Co., Institute for Defense <PAGE>
PAGE 95
Analyses, Marshall Erdman and Associates, Inc. (architectural
engineering) and Public Oversight Board of the American Institute
of Certified Public Accountants.

David R. Hubers+**
Born in 1943
2900 IDS Tower
Minneapolis, MN

President, chief executive officer and director of AEFC.
Previously, senior vice president, finance and chief financial
officer of AEFC.

Heinz F. Hutter+'
Born in 1929
P.O. Box 2187
Minneapolis, MN

Former president and chief operating officer, Cargill, Incorporated
(commodity merchants and processors).

Anne P. Jones
Born in 1935
5716 Bent Branch Rd.
Bethesda, MD

Attorney and telecommunications consultant. Former partner, law
firm of Sutherland, Asbill & Brennan. Director, Motorola, Inc. and
C-Cor Electronics, Inc.

Melvin R. Laird
Born in 1922
Reader's Digest Association, Inc.
1730 Rhode Island Ave., N.W.
Washington, D.C.

Senior counsellor for national and international affairs, The
Reader's Digest Association, Inc. Former nine-term congressman,
secretary of defense and presidential counsellor. Director, Martin
Marietta Corp., Metropolitan Life Insurance Co., The Reader's
Digest Association, Inc., Science Applications International Corp.,
Wallace Reader's Digest Funds and Public Oversight Board (SEC
Practice Section, American Institute of Certified Public
Accountants).

William R. Pearce+*
Born in 1927
901 S. Marquette Ave.
Minneapolis, MN

President of all funds in the IDS MUTUAL FUND GROUP since June
1993. Former vice chairman of the board, Cargill, Incorporated
(commodity merchants and processors).

<PAGE>
PAGE 96
Edson W. Spencer+
Born in 1926
4900 IDS Center
80 S. 8th St.
Minneapolis, MN

President, Spencer Associates Inc. (consulting). Former chairman
of the board and chief executive officer, Honeywell Inc. Director,
Boise Cascade Corporation (forest products). Member of
International Advisory Council of NEC (Japan).

John R. Thomas**
Born in 1937
2900 IDS Tower
Minneapolis, MN

Senior vice president and director of AEFC.

Wheelock Whitney+
Born in 1926
1900 Foshay Tower
821 Marquette Ave.
Minneapolis, MN

Chairman, Whitney Management Company (manages family assets).

C. Angus Wurtele'
Born in 1934
Valspar Corporation
Suite 1700
Foshay Tower
Minneapolis, MN

Chairman of the board and retired chief executive officer, The
Valspar Corporation (paints). Director, Bemis Corporation
(packaging), Donaldson Company (air cleaners & mufflers) and
General Mills, Inc. (consumer foods).

+ Member of executive committee.
' Member of joint audit committee.
* Interested person by reason of being an officer and employee of
the Fund.
**Interested person by reason of being an officer, board member,
employee and/or shareholder of AEFC or American Express.

The board also has appointed officers who are responsible for day-
to-day business decisions based on policies it has established.

In addition to Mr. Pearce, who is president, the Fund's other
officers are:

Leslie L. Ogg
Born in 1938
901 S. Marquette Ave.
Minneapolis, MN<PAGE>
PAGE 97
Vice president, general counsel and secretary of all funds in the
IDS MUTUAL FUND GROUP.

Officers who also are officers and/or employees of AEFC

Peter J. Anderson
Born in 1942
IDS Tower 10
Minneapolis, MN

Vice president-investments of all funds in the IDS MUTUAL FUND
GROUP. Director and senior vice president-investments of AEFC.

Melinda S. Urion
Born in 1953
IDS Tower 10
Minneapolis, MN

Treasurer of all funds in the IDS MUTUAL FUND GROUP. Director,
senior vice president and chief financial officer of AEFC.
Director and executive vice president and controller of IDS Life
Insurance Company.

COMPENSATION FOR THE FUND BOARD MEMBERS

Members of the board who are not officers of the Fund or of AEFC
receive an annual fee of $100 and the chair of the Contracts
Committee receives an additional $90. Board members receive a $50
per day attendance fee for board meetings. The attendance fee for
meetings of the contracts and Investment Review Committee is $50;
for meetings of the Audit Committee and Personnel Committee $25 and
for traveling out-of-state $8. Expenses for attending meetings are
reimbursed.

During the fiscal year ended Oct. 31, 1996, the members of the
board, for attending up to 25 meetings, received the following
compensation:
<TABLE><CAPTION>

Compensation Table

Pension or Estimated Total cash
Aggregate Retirement annual compensation
compensation benefits benefit from the IDS MUTUAL
from the accrued as upon FUND GROUP and the Preferred
Board member Fund Fund expenses* retirement Master Trust Group
<S> <C> <C> <C> <C>
Lynne V. Cheney $ 812 $ 206 $ 300 $74,500
Robert F. Froehlke 852 800 260 76,800
Heinz F. Hutter 872 312 145 77,300
Anne P. Jones 876 215 300 77,400
Donald M. Kendall 483 211 173 36,000
(part of year)
Melvin R. Laird 945 565 218 80,600
Lewis W. Lehr 500 -- 170 36,700
(part of year)
Edson W. Spencer 1,017 375 160 83,300
Wheelock Whitney 829 433 300 75,200
C. Angus Wurtele 817 342 298 75,300

/TABLE
<PAGE>
PAGE 98
On Oct. 31, 1996, the Fund's board members and officers as a group
owned less than 1% of the outstanding shares. During the fiscal
period ended Oct. 31, 1996, no board member or officer earned more
than $60,000 from this Fund. All board members and officers as a
group earned $16,990, including $3,459 of retirement plan benefits,
from this Fund.

*The Fund had a retirement plan for its independent board members.
The plan was terminated April 30, 1996.

COMPENSATION FOR THE PORTFOLIO BOARD MEMBERS

Members of the board who are not officers of the Portfolio or of
the Advisor receive an annual fee of $300 for World Income
Portfolio. They also receive attendance and other fees. These
fees include for each day in attendance at meetings of the board,
$50; for meetings of the Contracts and Investment Review
Committees, $50; meetings of the Audit Committee, $25; for
traveling from out-of-state, $8; and as Chair of the Contracts
Committee, $90. Expenses for attending meetings are reimbursed.

During the fiscal period from May 13, 1996 to Oct. 31, 1996 the
members of the board, for attending up to 25 meetings, received the
following compensation, in total, from all Portfolios in the
Preferred Master Trust Group:
<TABLE><CAPTION>

Compensation Table
for World Income Portfolio

Pension or Estimated Total cash
Aggregate Retirement annual compensation
compensation benefits benefit from the Preferred
from the accrued as upon Master Trust Group and
Board member Portfolio Portfolio expenses* retirement IDS MUTUAL FUND GROUP
<S> <C> <C> <C> <C>
Lynne V. Cheney $ 289 $0 $0 $74,500
Robert F. Froehlke 332 0 0 76,800
Heinz F. Hutter 310 0 0 77,300
Anne P. Jones 314 0 0 77,400
Melvin R. Laird 351 0 0 80,600
Edson W. Spencer 352 0 0 83,300
Wheelock Whitney 302 0 0 75,200
C. Angus Wurtele 320 0 0 75,300
</TABLE>
During the fiscal period from May 13, 1996 to Oct. 31, 1996, no
board member or officer earned more than $60,000 from the World
Income Portfolio. All board members and officers as a group earned
$1,338 from World Income Portfolio.

CUSTODIAN

The Trust's securities and cash are held by American Express Trust
Company, 1200 Northstar Center West, 625 Marquette Ave.,
Minneapolis, MN 55402-2307, through a custodian agreement. The
Fund also retains the custodian pursuant to a custodian agreement.
The custodian is permitted to deposit some or all of its securities
in central depository systems as allowed by federal law. For its
services, the Portfolio pays the custodian a maintenance charge and
a charge per transaction in addition to reimbursing the custodian's
out-of-pocket expenses.
<PAGE>
PAGE 99
The custodian has entered into a sub-custodian arrangement with the
Morgan Stanley Trust Company (Morgan Stanley), One Pierrepont
Plaza, Eighth Floor, Brooklyn, NY 11201-2775. As part of this
arrangement, securities purchased outside the United States are
maintained in the custody of various foreign branches of Morgan
Stanley or in such other financial institutions as may be permitted
by law and by the Fund's sub-custodian agreement.

INDEPENDENT AUDITORS

The Fund's and corresponding Portfolio's financial statements
contained in the Annual Report to shareholders for the fiscal year
ended Oct. 31, 1996, were audited by independent auditors, KPMG
Peat Marwick LLP, 4200 Norwest Center, 90 S. Seventh St.,
Minneapolis, MN 55402-3900. The independent auditors also provide
other accounting and tax-related services as requested by the Fund.

FINANCIAL STATEMENTS

The Independent Auditors' Reports and the Financial Statements,
including Notes to the Financial Statements and the Schedule of
Investments in Securities, contained in the 1996 Annual Report to
shareholders, pursuant to Section 30(d) of the Investment Company
Act of 1940, as amended, are hereby incorporated in this SAI by
reference. No other portion of the Annual Report, however, is
incorporated by reference.

PROSPECTUS

The prospectus for IDS Global Bond Fund dated Dec. 30, 1996, is
hereby incorporated in this SAI by reference.
<PAGE>
PAGE 100
APPENDIX A

FOREIGN CURRENCY TRANSACTIONS

Since investments in foreign countries usually involve currencies
of foreign countries, and since the Portfolio may hold cash and
cash-equivalent investments in foreign currencies, the value of the
Portfolio's assets as measured in U.S. dollars may be affected
favorably or unfavorably by changes in currency exchange rates and
exchange control regulations. Also, the Portfolio may incur costs
in connection with conversions between various currencies.

Spot Rates and Forward Contracts. The Portfolio conducts its
foreign currency exchange transactions either at the spot (cash)
rate prevailing in the foreign currency exchange market or by
entering into forward currency exchange contracts (forward
contracts) as a hedge against fluctuations in future foreign
exchange rates. A forward contract involves an obligation to buy
or sell a specific currency at a future date, which may be any
fixed number of days from the contract date, at a price set at the
time of the contract. These contracts are traded in the interbank
market conducted directly between currency traders (usually large
commercial banks) and their customers. A forward contract
generally has no deposit requirements. No commissions are charged
at any stage for trades.

The Portfolio may enter into forward contracts to settle a security
transaction or handle dividend and interest collection. When the
Portfolio enters into a contract for the purchase or sale of a
security denominated in a foreign currency or has been notified of
a dividend or interest payment, it may desire to lock in the price
of the security or the amount of the payment in dollars. By
entering into a forward contract, the Portfolio will be able to
protect itself against a possible loss resulting from an adverse
change in the relationship between different currencies from the
date the security is purchased or sold to the date on which payment
is made or received or when the dividend or interest is actually
received.

The Portfolio also may enter into forward contracts when management
of the Portfolio believes the currency of a particular foreign
country may change in relationship to the U.S. dollar or another
currency. The precise matching of forward contract amounts and the
value of securities involved generally will not be possible since
the future value of such securities in foreign currencies more than
likely will change between the date the forward contract is entered
into and the date it matures. The projection of short-term
currency market movements is extremely difficult and successful
execution of a short-term hedging strategy is highly uncertain.
The Portfolio will not enter into such forward contracts or
maintain a net exposure to such contracts when consummating the
contracts would obligate the Portfolio to deliver an amount of
foreign currency in excess of an offsetting position composed of
the Portfolio's securities and cash. Under normal circumstances, <PAGE>
PAGE 101
consideration of the prospect for currency parities will be
incorporated into the longer term investment strategies. The
investment manager believes it is important, however, to have the
flexibility to enter into such forward contracts when it determines
it is in the best interest of the Portfolio to do so.

The Portfolio will designate cash or securities in an amount equal
to the value of the Portfolio's total assets committed to
consummating forward contracts entered into under the second
circumstance set forth above. If the value of the securities
declines, additional cash or securities will be designated on a
daily basis so that the value of the cash or securities will equal
the amount of the Portfolio's commitments on such contracts.

At maturity of a forward contract, the Portfolio may either sell
the security and make delivery of the foreign currency or retain
the security and terminate its contractual obligation to deliver
the foreign currency by purchasing an offsetting contract with the
same currency trader obligating it to buy, on the same maturity
date, the same amount of foreign currency.

If the Portfolio retains the security and engages in an offsetting
transaction, the Portfolio will incur a gain or a loss (as
described below) to the extent there has been movement in forward
contract prices. If the Portfolio engages in an offsetting
transaction, it may subsequently enter into a new forward contract
to sell the foreign currency. Should forward prices decline
between the date the Portfolio enters into a forward contract for
selling foreign currency and the date it enters into an offsetting
contract for purchasing the foreign currency, the Portfolio will
realize a gain to the extent the price of the currency it has
agreed to sell exceeds the price of the currency it has agreed to
buy. Should forward prices increase, the Portfolio will suffer a
loss to the extent the price of the currency it has agreed to buy
exceeds the price of the currency it has agreed to sell.

It is impossible to forecast what the market value of securities
will be at the expiration of a contract. Accordingly, it may be
necessary for the Portfolio to buy additional foreign currency on
the spot market (and bear the expense of such purchase) if the
market value of the security is less than the amount of foreign
currency the Portfolio is obligated to deliver and a decision is
made to sell the security and make delivery of the foreign
currency. Conversely, it may be necessary to sell on the spot
market some of the foreign currency received on the sale of the
security if its market value exceeds the amount of foreign currency
the Portfolio is obligated to deliver.

The Portfolio's dealing in forward contracts will be limited to the
transactions described above. This method of protecting the value
of the Portfolio's securities against a decline in the value of a
currency does not eliminate fluctuations in the underlying prices
of the securities. It simply establishes a rate of exchange that
can be achieved at some point in time. Although such forward <PAGE>
PAGE 102
contracts tend to minimize the risk of loss due to a decline in
value of hedged currency, they tend to limit any potential gain
that might result should the value of such currency increase.

Although the Portfolio values its assets each business day in terms
of U.S. dollars, it does not intend to convert its foreign
currencies into U.S. dollars on a daily basis. It will do so from
time to time, and shareholders should be aware of currency
conversion costs. Although foreign exchange dealers do not charge
a fee for conversion, they do realize a profit based on the
difference (spread) between the prices at which they are buying and
selling various currencies. Thus, a dealer may offer to sell a
foreign currency to the Portfolio at one rate, while offering a
lesser rate of exchange should the Portfolio desire to resell that
currency to the dealer.

Options on Foreign Currencies. The Portfolio may buy put and call
options and write covered call and cash-secured put options on
foreign currencies for hedging purposes. For example, a decline in
the dollar value of a foreign currency in which securities are
denominated will reduce the dollar value of such securities, even
if their value in the foreign currency remains constant. In order
to protect against such diminutions in the value of securities, the
Portfolio may buy put options on the foreign currency. If the
value of the currency does decline, the Portfolio will have the
right to sell such currency for a fixed amount in dollars and will
thereby offset, in whole or in part, the adverse effect on its
portfolio which otherwise would have resulted.

Conversely, where a change in the dollar value of a currency in
which securities to be acquired are denominated is projected, which
would increase the cost of such securities, the Portfolio may buy
call options thereon. The purchase of such options could offset,
at least partially, the effects of the adverse movements in
exchange rates.

As in the case of other types of options, however, the benefit to
the Portfolio derived from purchases of foreign currency options
will be reduced by the amount of the premium and related
transaction costs. In addition, where currency exchange rates do
not move in the direction or to the extent anticipated, the
Portfolio could sustain losses on transactions in foreign currency
options which would require it to forego a portion or all of the
benefits of advantageous changes in such rates.

The Portfolio may write options on foreign currencies for the same
types of hedging purposes. For example, where the Portfolio
anticipates a decline in the dollar value of foreign-denominated
securities due to adverse fluctuations in exchange rates it could,
instead of purchasing a put option, write a call option on the
relevant currency. If the expected decline occurs, the option will
most likely not be exercised and the diminution in value of
securities will be fully or partially offset by the amount of the
premium received.<PAGE>
PAGE 103
Similarly, instead of purchasing a call option to hedge against an
anticipated increase in the dollar cost of securities to be
acquired, the Portfolio could write a put option on the relevant
currency which, if rates move in the manner projected, will expire
unexercised and allow the Portfolio to hedge such increased cost up
to the amount of the premium.

As in the case of other types of options, however, the writing of a
foreign currency option will constitute only a partial hedge up to
the amount of the premium, and only if rates move in the expected
direction. If this does not occur, the option may be exercised and
the Portfolio would be required to buy or sell the underlying
currency at a loss which may not be offset by the amount of the
premium. Through the writing of options on foreign currencies, the
Portfolio also may be required to forego all or a portion of the
benefits which might otherwise have been obtained from favorable
movements on exchange rates.

All options written on foreign currencies will be covered. An
option written on foreign currencies is covered if the Portfolio
holds currency sufficient to cover the option or has an absolute
and immediate right to acquire that currency without additional
cash consideration upon conversion of assets denominated in that
currency or exchange of other currency held in its portfolio. An
option writer could lose amounts substantially in excess of its
initial investments, due to the margin and collateral requirements
associated with such positions.

Options on foreign currencies are traded through financial
institutions acting as market-makers, although foreign currency
options also are traded on certain national securities exchanges,
such as the Philadelphia Stock Exchange and the Chicago Board
Options Exchange, subject to SEC regulation. In an over-the-
counter trading environment, many of the protections afforded to
exchange participants will not be available. For example, there
are no daily price fluctuation limits, and adverse market movements
could therefore continue to an unlimited extent over a period of
time. Although the purchaser of an option cannot lose more than
the amount of the premium plus related transaction costs, this
entire amount could be lost.

Foreign currency option positions entered into on a national
securities exchange are cleared and guaranteed by the Options
Clearing Corporation (OCC), thereby reducing the risk of
counterparty default. Further, a liquid secondary market in
options traded on a national securities exchange may be more
readily available than in the over-the-counter market, potentially
permitting the Portfolio to liquidate open positions at a profit
prior to exercise or expiration, or to limit losses in the event of
adverse market movements.

The purchase and sale of exchange-traded foreign currency options,
however, is subject to the risks of availability of a liquid
secondary market described above, as well as the risks regarding
adverse market movements, margining of options written, the nature <PAGE>
PAGE 104
of the foreign currency market, possible intervention by
governmental authorities and the effects of other political and
economic events. In addition, exchange-traded options on foreign
currencies involve certain risks not presented by the over-the-
counter market. For example, exercise and settlement of such
options must be made exclusively through the OCC, which has
established banking relationships in certain foreign countries for
the purpose. As a result, the OCC may, if it determines that
foreign governmental restrictions or taxes would prevent the
orderly settlement of foreign currency option exercises, or would
result in undue burdens on OCC or its clearing member, impose
special procedures on exercise and settlement, such as technical
changes in the mechanics of delivery of currency, the fixing of
dollar settlement prices or prohibitions on exercise.

Foreign Currency Futures and Related Options. The Portfolio may
enter into currency futures contracts to buy or sell currencies.
It also may buy put and call options and write covered call and
cash-secured put options on currency futures. Currency futures
contracts are similar to currency forward contracts, except that
they are traded on exchanges (and have margin requirements) and are
standardized as to contract size and delivery date. Most currency
futures call for payment of delivery in U.S. dollars. The
Portfolio may use currency futures for the same purposes as
currency forward contracts, subject to Commodity Futures Trading
Commission (CFTC) limitations. All futures contracts are
aggregated for purposes of the percentage limitations.

Currency futures and options on futures values can be expected to
correlate with exchange rates, but will not reflect other factors
that may affect the values of the Portfolio's investments. A
currency hedge, for example, should protect a Yen-denominated bond
against a decline in the Yen, but will not protect the Portfolio
against price decline if the issuer's creditworthiness
deteriorates. Because the value of the Portfolio's investments
denominated in foreign currency will change in response to many
factors other than exchange rates, it may not be possible to match
the amount of a forward contract to the value of the Portfolio's
investments denominated in that currency over time.

The Portfolio will hold securities or other options or futures
positions whose values are expected to offset its obligations. The
Portfolio will not enter into an option or futures position that
exposes the Portfolio to an obligation to another party unless it
owns either (i) an offsetting position in securities or (ii) cash,
receivables and short-term debt securities with a value sufficient
to cover its potential obligations.
<PAGE>
PAGE 105
APPENDIX B

OPTIONS AND FUTURES CONTRACTS

The Portfolio may buy or write options traded on any U.S. or
foreign exchange or in the over-the-counter market. The Portfolio
may enter into interest rate futures contracts and stock index
futures contracts traded on any U.S. or foreign exchange. The
Portfolio also may buy or write put and call options on these
futures and on stock indexes. Options in the over-the-counter
market will be purchased only when the investment manager believes
a liquid secondary market exists for the options and only from
dealers and institutions the investment manager believes present a
minimal credit risk. Some options are exercisable only on a
specific date. In that case, or if a liquid secondary market does
not exist, the Portfolio could be required to buy or sell
securities at disadvantageous prices, thereby incurring losses.

OPTIONS. An option is a contract. A person who buys a call option
for a security has the right to buy the security at a set price for
the length of the contract. A person who sells a call option is
called a writer. The writer of a call option agrees to sell the
security at the set price when the buyer wants to exercise the
option, no matter what the market price of the security is at that
time. A person who buys a put option has the right to sell a
security at a set price for the length of the contract. A person
who writes a put option agrees to buy the security at the set price
if the purchaser wants to exercise the option, no matter what the
market price of the security is at that time. An option is covered
if the writer owns the security (in the case of a call) or sets
aside the cash or securities of equivalent value (in the case of a
put) that would be required upon exercise.

The price paid by the buyer for an option is called a premium. In
addition the buyer generally pays a broker a commission. The
writer receives a premium, less another commission, at the time the
option is written. The cash received is retained by the writer
whether or not the option is exercised. A writer of a call option
may have to sell the security for a below-market price if the
market price rises above the exercise price. A writer of a put
option may have to pay an above-market price for the security if
its market price decreases below the exercise price. The risk of
the writer is potentially unlimited, unless the option is covered.

Options can be used to produce incremental earnings, protect gains
and facilitate buying and selling securities for investment
purposes. The use of options may benefit the Portfolio and its
shareholders by improving the Portfolio's liquidity and by helping
to stabilize the value of its net assets.

underlying security in the securities market and its price on the
options market. It is anticipated the trading technique will be
utilized only to effect a transaction when the price of the
security plus the option price will be as good or better than the
price at which the security could be bought or sold directly. When
the option is purchased, the Portfolio pays a premium and a
commission. It then pays a second commission on the purchase or
sale of the underlying security when the option is exercised. For
record keeping and tax purposes, the price obtained on the purchase
of the underlying security will be the combination of the exercise
price, the premium and both commissions. When using options as a
trading technique, commissions on the option will be set as if only
the underlying securities were traded.

Put and call options also may be held by the Portfolio for
investment purposes. Options permit the Portfolio to experience
the change in the value of a security with a relatively small
initial cash investment.

The risk the Portfolio assumes when it buys an option is the loss
of the premium. To be beneficial to the Portfolio, the price of
the underlying security must change within the time set by the
option contract. Furthermore, the change must be sufficient to
cover the premium paid, the commissions paid both in the
acquisition of the option and in a closing transaction or in the
exercise of the option and sale (in the case of a call) or purchase
(in the case of a put) of the underlying security. Even then the
price change in the underlying security does not assure a profit
since prices in the option market may not reflect such a change.

Writing covered options. The Portfolio will write covered options
when it feels it is appropriate and will follow these guidelines:

'Underlying securities will continue to be bought or sold solely on
the basis of investment considerations consistent with the
Portfolio's goal.

'All options written by the Portfolio will be covered. For covered
call options if a decision is made to sell the security, or for put
options if a decision is made to buy the security, the Portfolio
will attempt to terminate the option contract through a closing
purchase transaction.

Upon exercise of the option, the holder is required to pay the
purchase price of the underlying security in the case of a call
option, or to deliver the security in return for the purchase price
in the case of a put option. Conversely the writer is required to
deliver the security in the case of a call option or to purchase
the security in the case of a put option. Options that have been
purchased or written may be closed out prior to exercise or
expiration by entering into an offsetting transaction on the
exchange on which the initial position was established subject to
the availability of a liquid secondary market.

The Portfolio will realize a profit from a closing transaction if
the premium paid in connection with the closing of an option
written by the Portfolio is less than the premium received from
writing the option. Conversely, the Portfolio will suffer a loss
if the premium paid is more than the premium received. The
Portfolio also will profit if the premium received in connection
with the closing of an option purchased by the Portfolio is more
than the premium paid for the original purchase. Conversely, the
Portfolio will suffer a loss if the premium received is less than
the premium paid in establishing the option position.

The Portfolio may deal in options on securities that are traded in
U.S. and foreign securities exchanges and over-the-counter markets
and on domestic and foreign securities indexes.

The Portfolio will write options only as permitted under federal or
state laws or regulations, such as those that limit the amount of
total assets subject to the options. While no limit has been set
by the Portfolio, it will conform to the requirements of those
states. For example, California limits the writing of options to
50% of the assets of a fund.

Net premiums on call options closed or premiums on expired call
options are treated as short-term capital gains. Since the
Portfolio is taxed as a regulated investment company under the
Internal Revenue Code, any gains on options and other securities
held less than three months must be limited to less than 30% of its
annual gross income.

If a covered call option is exercised, the security is sold by the
Portfolio. The premium received upon writing the option is added
to the proceeds received from the sale of the security. The
Portfolio will recognize a capital gain or loss based upon the
difference between the proceeds and the security's basis. Premiums
received from writing outstanding call options are included as a
deferred credit in the Statement of Assets and Liabilities and
adjusted daily to the current market value.
<PAGE>
PAGE 108
FUTURES CONTRACTS. A futures contract is an agreement between two
parties to buy and sell a security for a set price on a future
date. Futures contracts are commodity contracts listed on
commodity exchanges. Futures contracts trade in a manner similar
to the way a stock trades on a stock exchange and the commodity
exchanges, through their clearing corporations, guarantee
performance of the contracts. There are contracts based on U.S.
Treasury bonds, Standard & Poor's 500 Index (S&P 500 Index), and
other broad stock market indexes as well as narrower sub-indexes.
The S&P 500 Index assigns relative weightings to the common stocks
included in the Index, and the Index fluctuates with changes in the
market values of those stocks. In the case of S&P 500 Index
futures contracts, the specified multiple is $500. Thus, if the
value of the S&P 500 Index were 150, the value of one contract
would be $75,000 (150 x $500).

Unlike other futures contracts, a stock index futures contract
specifies that no delivery of the actual stocks making up the index
will take place. Instead, settlement in cash must occur upon the
termination of the contract. For example, excluding any
transaction costs, if the Portfolio enters into one futures
contract to buy the S&P 500 Index at a specified future date at a
contract value of 150 and the S&P 500 Index is at 154 on that
future date, the Portfolio will gain $500 x (154-150) or $2,000.
If the Portfolio enters into one futures contract to sell the S&P
500 Index at a specified future date at a contract value of 150 and
the S&P 500 Index is at 152 on that future date, the Portfolio will
lose $500 x (152-150) or $1,000.

Generally, a futures contract is terminated by entering into an
offsetting transaction. An offsetting transaction is effected by
the Portfolio taking an opposite position. At the time a futures
contract is made, a good faith deposit called initial margin is set
up within a segregated account at the Portfolio's custodian bank.
Daily thereafter, the futures contract is valued and the payment of
variation margin is required so that each day the Portfolio would
pay out cash in an amount equal to any decline in the contract's
value or receive cash equal to any increase. At the time a futures
contract is closed out, a nominal commission is paid, which is
generally lower than the commission on a comparable transaction in
the cash markets.

The purpose of a futures contract is to allow the Portfolio to gain
rapid exposure to or protect itself from changes in the market
without actually buying or selling securities. For example, a
Portfolio may find itself with a high cash position at the
beginning of a market rally. Conventional procedures of purchasing
a number of individual issues entail the lapse of time and the
possibility of missing a significant market movement. By using
futures contracts, the Portfolio can obtain immediate exposure to
the market and benefit from the beginning stages of a rally. The
buying program can then proceed and once it is completed (or as it
proceeds), the contracts can be closed. Conversely, in the early
stages of a market decline, market exposure can be promptly offset <PAGE>
PAGE 109
by entering into stock index futures contracts to sell units of an
index and individual stocks can be sold over a longer period under
cover of the resulting short contract position.

Risks of Transactions in Futures Contracts

The Portfolio may elect to close some or all of its contracts prior
to expiration. Although the Portfolio intends to enter into
futures contracts only on exchanges or boards of trade where there
appears to be an active secondary market, there is no assurance
that a liquid secondary market will exist for any particular
contract at any particular time. In such event, it may not be
possible to close a futures contract position, and in the event of
adverse price movements, the Portfolio would have to make daily
cash payments of variation margin. Such price movements, however,
will be offset all or in part by the price movements of the
securities owned by the Portfolio. Of course, there is no
guarantee the price of the securities will correlate with the price
movements in the futures contract and thus provide an offset to
losses on a futures contract.

Another risk in employing futures contracts to protect against the
price volatility of securities is that the prices of securities
subject to futures contracts may not correlate perfectly with the
behavior of the cash prices of the Portfolio's securities. The
correlation may be distorted because the futures market is
dominated by short-term traders seeking to profit from the
difference between a contract or security price and their cost of
borrowed funds. Such distortions are generally minor and would
diminish as the contract approached maturity.

In addition, the Portfolio's investment manager could be incorrect
in its expectations as to the direction or extent of various
interest rate or market movements or the time span within which the
movements take place. For example, if the Portfolio sold futures
contracts in anticipation of a market decline, and the market
rallied instead, the Portfolio would lose part or all of the
benefit of the increased value of the stock it has hedged because
it will have offsetting losses in its futures positions.

OPTIONS ON FUTURES CONTRACTS. Options on futures contracts give
the holder a right to buy or sell futures contracts in the future.
Unlike a futures contract, which requires the parties to the
contract to buy and sell a security on a set date, an option on a
futures contract merely entitles its holder to decide on or before
a future date (within nine months of the date of issue) whether to
enter into such a contract. If the holder decides not to enter
into the contract, all that is lost is the amount (premium) paid
for the option. Furthermore, because the value of the option is
fixed at the point of sale, there are no daily payments of cash to
reflect the change in the value of the underlying contract.
However, since an option gives the buyer the right to enter into a <PAGE>
PAGE 110
contract at a set price for a fixed period of time, its value does
change daily and that change is reflected in the net asset value of
the Portfolio.

The risk the Portfolio assumes when it buys an option is the loss
of the premium paid for the option. The risk involved in writing
options on futures contracts the Portfolio owns, or on securities
held in its portfolio, is that there could be an increase in the
market value of such contracts or securities. If that occurred,
the option would be exercised and the asset sold at a lower price
than the cash market price. To some extent, the risk of not
realizing a gain could be reduced by entering into a closing
transaction. The Portfolio could enter into a closing transaction
by purchasing an option with the same terms as the one it had
previously sold. The cost to close the option and terminate the
Portfolio's obligation, however, might be more or less than the
premium received when it originally wrote the option. Furthermore,
the Portfolio might not be able to close the option because of
insufficient activity in the options market. Purchasing options
also limits the use of monies that might otherwise be available for
long-term investments.

OPTIONS ON STOCK INDEXES. Options on stock indexes are securities
traded on national securities exchanges. An option on a stock
index is similar to an option on a futures contract except all
settlements are in cash. A fund exercising a put, for example,
would receive the difference between the exercise price and the
current index level. Such options would be used in the same manner
as options on futures contracts.

TAX TREATMENT. As permitted under federal income tax laws, the
Portfolio intends to identify futures contracts as mixed straddles
and not mark them to market, that is, not treat them as having been
sold at the end of the year at market value. Such an election may
result in the Portfolio being required to defer recognizing losses
incurred by entering into futures contracts and losses on
underlying securities identified as being hedged against.

Federal income tax treatment of gains or losses from transactions
in options on futures contracts and indexes will depend on whether
such option is a section 1256 contract. If the option is a non-
equity option, the Portfolio will either make a 1256(d) election
and treat the option as a mixed straddle or mark to market the
option at fiscal year end and treat the gain/loss as 40% short-term
and 60% long-term. Certain provisions of the Internal Revenue Code
may also limit the Portfolio's ability to engage in futures
contracts and related options transactions. For example, at the
close of each quarter of the Portfolio's taxable year, at least 50%
of the value of its assets must consist of cash, government
securities and other securities, subject to certain diversification
requirements. Less than 30% of its gross income must be derived
from sales of securities held less than three months.
<PAGE>
PAGE 111
The IRS has ruled publicly that an exchange-traded call option is a
security for purposes of the 50%-of-assets test and that its issuer
is the issuer of the underlying security, not the writer of the
option, for purposes of the diversification requirements. In order
to avoid realizing a gain within the three-month period, the
Portfolio may be required to defer closing out a contract beyond
the time when it might otherwise be advantageous to do so. The
Portfolio also may be restricted in purchasing put options for the
purpose of hedging underlying securities because of applying the
short sale holding period rules with respect to such underlying
securities.

Accounting for futures contracts will be according to generally
accepted accounting principles. Initial margin deposits will be
recognized as assets due from a broker (the Portfolio's agent in
acquiring the futures position). During the period the futures
contract is open, changes in value of the contract will be
recognized as unrealized gains or losses by marking to market on a
daily basis to reflect the market value of the contract at the end
of each day's trading. Variation margin payments will be made or
received depending upon whether gains or losses are incurred. All
contracts and options will be valued at the last-quoted sales price
on their primary exchange.
<PAGE>
PAGE 112
APPENDIX C

MORTGAGE-BACKED SECURITIES

A mortgage pass-through certificate is one that represents an
interest in a pool, or group, of mortgage loans assembled by the
Government National Mortgage Association (GNMA), Federal Home Loan
Mortgage Corporation (FHLMC), Federal National Mortgage Association
(FNMA) or non-governmental entities. In pass-through certificates,
both principal and interest payments, including prepayments, are
passed through to the holder of the certificate. Prepayments on
underlying mortgages result in a loss of anticipated interest, and
the actual yield (or total return) to the Portfolio, which is
influenced by both stated interest rates and market conditions, may
be different than the quoted yield on certificates. Some U.S.
government securities may be purchased on a when-issued basis,
which means that it may take as long as 45 days after the purchase
before the securities are delivered to the Portfolio.

Stripped Mortgage-Backed Securities. The Portfolio may invest in
stripped mortgage-backed securities. Generally, there are two
classes of stripped mortgage-backed securities: Interest Only (IO)
and Principal Only (PO). IOs entitle the holder to receive
distributions consisting of all or a portion of the interest on the
underlying pool of mortgage loans or mortgage-backed securities.
POs entitle the holder to receive distributions consisting of all
or a portion of the principal of the underlying pool of mortgage
loans or mortgage-backed securities. The cash flows and yields on
IOs and POs are extremely sensitive to the rate of principal
payments (including prepayments) on the underlying mortgage loans
or mortgage-backed securities. A rapid rate of principal payments
may adversely affect the yield to maturity of IOs. A slow rate of
principal payments may adversely affect the yield to maturity of
POs. On an IO, if prepayments of principal are greater than
anticipated, an investor may incur substantial losses. If
prepayments of principal are slower than anticipated, the yield on
a PO will be affected more severely than would be the case with a
traditional mortgage-backed security.

Mortgage-Backed Security Spread Options. The Portfolio may
purchase mortgage-backed security (MBS) put spread options and
write covered MBS call spread options. MBS spread options are
based upon the changes in the price spread between a specified
mortgage-backed security and a like-duration Treasury security.
MBS spread options are traded in the OTC market and are of short
duration, typically one to two months. The Portfolio would buy or
sell covered MBS call spread options in situations where mortgage-
backed securities are expected to underperform like-duration
Treasury securities.
<PAGE>
PAGE 113
APPENDIX D

DOLLAR-COST AVERAGING

A technique that works well for many investors is one that
eliminates random buy and sell decisions. One such system is
dollar-cost averaging. Dollar-cost averaging involves building a
portfolio through the investment of fixed amounts of money on a
regular basis regardless of the price or market condition. This
may enable an investor to smooth out the effects of the volatility
of the financial markets. By using this strategy, more shares will
be purchased when the price is low and less when the price is high.
As the accompanying chart illustrates, dollar-cost averaging tends
to keep the average price paid for the shares lower than the
average market price of shares purchased, although there is no
guarantee.

While this does not ensure a profit and does not protect against a
loss if the market declines, it is an effective way for many
shareholders who can continue investing through changing market
conditions to accumulate shares in a fund to meet long-term goals.

Dollar-cost averaging

___________________________________________________________________
Regular Market Price Shares
Investment of a Share Acquired
$100 $6.00 16.7
100 4.00 25.0
100 4.00 25.0
100 6.00 16.7
100 5.00 20.0
$500 $25.00 103.4

Average market price of a share over 5 periods:
$5.00 ($25.00 divided by 5).
The average price you paid for each share:
$4.84 ($500 divided by 103.4).
<PAGE>
PAGE 114

IDS GLOBAL SERIES, INC.

STATEMENT OF ADDITIONAL INFORMATION

FOR

IDS GLOBAL GROWTH FUND

Dec. 30, 1996

This SAI is dated Dec. 30, 1996, and it is to be used with the
prospectus dated Dec. 30, 1996, and the Annual Report for the
fiscal year ended Oct. 31, 1996.
<PAGE>
PAGE 115
TABLE OF CONTENTS

Goal and Investment Policies........................See Prospectus

Additional Investment Policies................................p. 3

Security Transactions.........................................p. 6

Brokerage Commissions Paid to Brokers Affiliated with
American Express Financial Corporation........................p. 9

Performance Information.......................................p.10

Valuing Fund Shares...........................................p.11

Investing in the Fund.........................................p.12

Redeeming Shares..............................................p.16

Pay-out Plans.................................................p.17

Taxes.........................................................p.18

Agreements....................................................p.21

Organizational Information....................................p.24

Board Members and Officers....................................p.24

Compensation for the Fund Board Members.......................p.27

Compensation for the Portfolio Board Members..................p.28

Custodian.....................................................p.29

Independent Auditors..........................................p.29

Financial Statements..............................See Annual Report

Prospectus....................................................p.30

Appendix A: Description of Bond Ratings......................p.31

Appendix B: Foreign Currency Transactions....................p.34

Appendix C: Options and Futures Contracts....................p.39

Appendix D: Mortgage-Backed Securities.......................p.46

Appendix E: Dollar-Cost Averaging............................p.47
<PAGE>
PAGE 116
ADDITIONAL INVESTMENT POLICIES

The Fund pursues its goal by investing all of its assets in World
Growth Portfolio (the "Portfolio") of the World Trust (the
"Trust"), a separate investment company, rather than by directly
investing in and managing its own portfolio of securities. The
Portfolio has the same investment objectives, policies and
restrictions as the Fund.

Fundamental investment policies adopted by the Fund or Portfolio
cannot be changed without the approval of a majority of the
outstanding voting securities of the Fund or Portfolio, as defined
in the Investment Company Act of 1940 (the 1940 Act). Whenever the
Fund is requested to vote on a change in the investment policies of
the corresponding Portfolio, the Fund will hold a meeting of Fund
shareholders and will cast the Fund's vote as instructed by the
shareholders.

'Make cash loans if the total commitment amount exceeds 5% of the
Portfolio's total assets.

'Purchase more than 10% of the outstanding voting securities of an
issuer.
<PAGE>
PAGE 117

'Invest more than 5% of its total assets in securities of any one
company, government or political subdivision thereof, except the
limitation will not apply to investments in securities issued by
the U.S. government, its agencies or instrumentalities, and except
that up to 25% of the Portfolio's total assets may be invested
without regard to this 5% limitation.

'Make a loan of any part of its assets to American Express
Financial Corporation (AEFC), to the board members and officers of
AEFC or to its own board members and officers.

'Purchase securities of an issuer if the board members and officers
of the Fund, the Portfolio and AEFC hold more than a certain
percentage of the issuer's outstanding securities. If the holdings
of all board members and officers of the Fund, the Portfolio and
AEFC who own more than 0.5% of an issuer's securities are added
together, and if in total they own more than 5%, the Portfolio will
not purchase securities of that issuer.

'Issue senior securities, except to the extent that borrowing from
banks and using options, foreign currency forward contracts or
future contracts (as discussed elsewhere in the Fund's prospectus
and SAI) may be deemed to constitute issuing a senior security.
<PAGE>
PAGE 118

Unless changed by the board, the Fund and Portfolio will not:

'Buy on margin or sell short, but it may make margin payments in
connection with transactions in futures contracts.

'Pledge or mortgage its assets beyond 15% of total assets. If the
Portfolio were ever to do so, valuation of the pledged or mortgaged
assets would be based on market values. For purposes of this
restriction, collateral arrangements for margin deposits on futures
contracts are not deemed to be a pledge of assets.

'Invest more than 5% of its total assets in securities of domestic
or foreign companies, including any predecessors, that have a
record of less than three years continuous operations.

'Invest in a company to control or manage it.

'Invest in exploration or development programs such as oil, gas or
mineral leases.

'Invest more than 10% of its net assets in securities and
derivative instruments that are illiquid. For purposes of this
policy illiquid securities include some privately placed
securities, public securities and Rule 144A securities that for one
reason or another may no longer have a readily available market,
repurchase agreements with maturities greater than seven days, non-
negotiable fixed-time deposits and over-the-counter options.

In determining the liquidity of commercial paper issued in
transactions not involving a public offering under Section 4(2) of
the Securities Act of 1933, the investment manager, under <PAGE>
PAGE 119
guidelines established by the board, will evaluate relevant factors
such as the issuer and the size and nature of its commercial paper
programs, the willingness and ability of the issuer or dealer to
repurchase the paper, and the nature of the clearance and
settlement procedures for the paper.

The Portfolio may maintain a portion of its assets in cash and
cash-equivalent investments. The cash-equivalent investments the
Portfolio may use are short-term U.S. and Canadian government
securities and negotiable certificates of deposit, non-negotiable
fixed-time deposits, bankers' acceptances and letters of credit of
banks or savings and loan associations having capital, surplus and
undivided profits (as of the date of its most recently published
annual financial statements) in excess of $100 million (or the
equivalent in the instance of a foreign branch of a U.S. bank) at
the date of investment. The Portfolio also may purchase short-term
notes and obligations (rated in the top two classifications by
Moody's Investors Service, Inc. (Moody's) or Standard & Poor's
Corporation (S&P) or the equivalent) of U.S. and foreign banks and
corporations and may use repurchase agreements with broker-dealers
registered under the Securities Exchange Act of 1934 and with
commercial banks. A risk of a repurchase agreement is that if the
seller seeks the protection of bankruptcy laws, the Portfolio's
ability to liquidate the security involved could be impaired. As a
temporary investment, during periods of weak or declining market
values for the securities in which the Portfolio invests, any
portion of its assets may be converted to cash (in foreign
currencies or U.S. dollars) or to the kinds of short-term debt
securities discussed in this paragraph.

For a description of bond ratings, see Appendix A. For a
discussion about foreign currency transactions, see Appendix B.
For a discussion on options and futures contracts, see Appendix C.
For a discussion on mortgage-backed securities, see Appendix D.

SECURITY TRANSACTIONS

Subject to policies set by the board, AEFC is authorized to
determine, consistent with the Fund's and Portfolio's investment
goal and policies, which securities will be purchased, held or
sold. In determining where the buy and sell orders are to be
placed, AEFC has been directed to use its best efforts to obtain
the best available price and the most favorable execution except
where otherwise authorized by the board. In selecting broker-<PAGE>
PAGE 120
dealers to execute transactions, AEFC may consider the price of the
security, including commission or mark-up, the size and difficulty
of the order, the reliability, integrity, financial soundness and
general operation and execution capabilities of the broker, the
broker's expertise in particular markets, and research services
provided by the broker.

When paying a commission that might not otherwise be charged or a
commission in excess of the amount another broker might charge,
AEFC must follow procedures authorized by the board. To date,
three procedures have been authorized. One procedure permits AEFC
to direct an order to buy or sell a security traded on a national
securities exchange to a specific broker for research services it
has provided. The second procedure permits AEFC, in order to
obtain research, to direct an order on an agency basis to buy or
sell a security traded in the over-the-counter market to a firm
that does not make a market in that security. The commission paid
generally includes compensation for research services. The third
procedure permits AEFC, in order to obtain research and brokerage <PAGE>
PAGE 121

services, to cause the Portfolio to pay a commission in excess of
the amount another broker might have charged. AEFC has advised the
Portfolio that it is necessary to do business with a number of
brokerage firms on a continuing basis to obtain such services as
the handling of large orders, the willingness of a broker to risk
its own money by taking a position in a security, and the
specialized handling of a particular group of securities that only
certain brokers may be able to offer. As a result of this
arrangement, some portfolio transactions may not be effected at the
lowest commission, but AEFC believes it may obtain better overall
execution. AEFC has assured the Portfolio that under all three
procedures the amount of commission paid will be reasonable and
competitive in relation to the value of the brokerage services
performed or research provided.

Each investment decision made for the Portfolio is made
independently from any decision made for another portfolio, fund or
other account advised by AEFC or any of its subsidiaries. When the
Portfolio buys or sells the same security as another portfolio,
fund or account, AEFC carries out the purchase or sale in a way the
Fund agrees in advance is fair. Although sharing in large
transactions may adversely affect the price or volume purchased or
sold by the Portfolio, the Portfolio hopes to gain an overall
advantage in execution. AEFC has assured the Portfolio it will
continue to seek ways to reduce brokerage costs.

The Portfolio paid total brokerage commissions of $9,806 for the
fiscal year ended Oct. 31, 1996, $2,571,257 for fiscal year 1995,
and $1,230,896 for fiscal year 1994. Substantially all firms
through whom transactions were executed provide research services.

In fiscal year 1996, transactions amounting to $228,443,000, on
which $953,997 in commissions were imputed or paid, were
specifically directed to firms in exchange for research services.
<PAGE>
PAGE 122
As of the fiscal year ended Oct. 31, 1996, the Fund held securities
of its regular brokers or dealers or of the parent of those brokers
or dealers that derived more than 15% of gross revenue from
securities-related activities as presented below:

Value of Securities
Owned at End of
Name of Issuer Fiscal Year
Dean Witter $8,470,307
Goldman Sachs Group 6,475,354
Morgan Stanley Group 1,776,952
NationsBank 4,975,938

The portfolio turnover rate was 134% in the fiscal year ended Oct.
31, 1996, and 90% in fiscal year 1995. Higher turnover rates may
result in higher brokerage expenses. The variation in turnover
rates can be attributed to a change in management style.

BROKERAGE COMMISSIONS PAID TO BROKERS AFFILIATED WITH AMERICAN
EXPRESS FINANCIAL CORPORATION

Affiliates of American Express Company (American Express) (of which
AEFC is a wholly-owned subsidiary) may engage in brokerage and
other securities transactions on behalf of the Portfolio according
to procedures adopted by the Portfolio's board and to the extent
consistent with applicable provisions of the federal securities
laws. AEFC will use an American Express affiliate only if (i) AEFC
determines that the Portfolio will receive prices and executions at
least as favorable as those offered by qualified independent
brokers performing similar brokerage and other services for the
Portfolio and (ii) the affiliate charges the Portfolio commission
rates consistent with those the affiliate charges comparable
unaffiliated customers in similar transactions and if such use is
consistent with terms of the Investment Management Services
Agreement.

<PAGE>
PAGE 123

Information about brokerage commissions paid by the Fund and
Portfolio for the last three fiscal years to brokers affiliated
with AEFC is contained in the following table:
<TABLE><CAPTION>

For the Fiscal Year Ended Oct. 31,

1996 1995 1994
Aggregate Percent of Aggregate Aggregate
Dollar Aggregate Dollar Dollar Dollar
Amount of Percent of Amount of Amount of Amount of
Nature Commissions Aggregate Transactions Commissions Commissions
of Paid to Brokerage Involving Payment Paid to Paid to
Broker Affiliation Broker Commissions of Commissions Broker Broker
<S> <C> <C> <C> <C> <C> <C>
American (1) $9,806 0.18% 0.73% $6,922 $3,752
Enterprise
Investment
Services Inc.

Lehman
Brothers, Inc. (2) None None None None $119,125

(1) Wholly owned subsidiary of AEFC.
(2) Under common control with AEFC as a subsidiary of American Express until May 31, 1994.
</TABLE>
PERFORMANCE INFORMATION

The Fund may quote various performance figures to illustrate past
performance. An explanation of the methods used by the Fund to
compute performance follows below.

Average annual total return

P(1+T)n = ERV

Aggregate total return

ERV - P
P

VALUING FUND SHARES

The value of an individual share for each class is determined by
using the net asset value before shareholder transactions for the
day. On Nov. 1, 1996, the first business day following the end of
the fiscal year, the computation looked like this:
<TABLE><CAPTION>
Net assets before Shares outstanding Net asset value
shareholder transactions at end of previous day of one share
<S> <C> <C> <C> <C> <C>
Class A $909,012,139 divided by 127,509,067 equals $7.129
Class B 145,978,321 20,676,816 7.060
Class Y 19,137,135 2,680,271 7.140
</TABLE>
In determining net assets before shareholder transactions, the
Portfolio's securities are valued as follows as of the close of
business of the New York Stock Exchange (the Exchange):

'Securities included in the NASDAQ National Market System are
valued at the last-quoted sales price in this market.

'Futures and options traded on major exchanges are valued at the
last-quoted sales price on their primary exchange.

'Foreign securities traded outside the United States are generally
valued as of the time their trading is complete, which is usually
different from the close of the Exchange. Foreign securities <PAGE>
PAGE 125
quoted in foreign currencies are translated into U.S. dollars at
the current rate of exchange. Occasionally, events affecting the
value of such securities may occur between such times and the close
of the Exchange that will not be reflected in the computation of
the Fund's net asset value. If events materially affecting the
value of such securities occur during such period, these securities
will be valued at their fair value according to procedures decided
upon in good faith by the board.

The Exchange, AEFC and the Fund will be closed on the following
holidays: New Year's Day, Memorial Day, Independence Day, Labor
Day, Thanksgiving Day and Christmas Day.

INVESTING IN THE FUND

Sales Charge

Shares of the Fund are sold at the public offering price determined
at the close of business on the day an application is accepted.
The public offering price is the net asset value of one share plus
a sales charge, if applicable. For Class B and Class Y, there is
no initial sales charge so the public offering price is the same as
the net asset value. For Class A, the public offering price for an
investment of less than $50,000, made Nov. 1, 1996, was determined
by dividing the net asset value of one share, $7.129, by 0.95
(1.00-0.05 for a maximum 5% sales charge) for a public offering
price of $7.50. The sales charge is paid to American Express
Financial Advisors by the person buying the shares.
<PAGE>
PAGE 126
Class A - Calculation of the Sales Charge

Sales charges are determined as follows:

Within each increment,
sales charge as a
percentage of:
Public Net
Amount of Investment Offering Price Amount Invested

First $ 50,000 5.0% 5.26%
Next 50,000 4.5 4.71
Next 400,000 3.8 3.95
Next 500,000 2.0 2.04
$1,000,000 or more 0.0 0.00

The following table shows the range of sales charges as a
percentage of the public offering price and of the net amount
invested on total investments at each applicable level.

On total investment, sales
charge as a percentage of
Public Net
Offering Price Amount Invested
Amount of Investment ranges from:

The initial sales charge is waived for certain qualified plans that
meet the requirements described in the prospectus. Participants in
these qualified plans may be subject to a deferred sales charge on
certain redemptions. The deferred sales charge on certain <PAGE>
PAGE 127
redemptions will be waived if the redemption is a result of a
participant's death, disability, retirement, attaining age 59 1/2,
loans or hardship withdrawals. The deferred sales charge varies
depending on the number of participants in the qualified plan and
total plan assets as follows:

Deferred Sales Charge

Number of Participants

Total Plan Assets 1-99 100 or more

Less than $1 million 4% 0%

$1 million or more 0% 0%
_________________________________________________________

Class A - Reducing the Sales Charge

The total amount invested includes any shares held in the Fund in
the name of a member of your primary household group. (The primary
household group consists of accounts in an ownership for spouses or
domestic partners and their unmarried children under 21. Domestic
partners are individuals who maintain a shared primary residence
and have joint property or other insurable interests. For
instance, if your spouse already has invested $20,000 and you want
to invest $40,000, your total amount invested will be $60,000 and
therefore you will pay the lower charge of 4.5% on $10,000 of the
$40,000.

Finally, Individual Retirement Account (IRA) purchases, or other
employee benefit plan purchases made through a payroll deduction
plan or through a plan sponsored by an employer, association of <PAGE>
PAGE 128
employers, employee organization or other similar entity, may be
added together to reduce sales charges for shares purchased through
that plan.

Class A - Letter of Intent (LOI)

Systematic Investment Programs

The systematic investment program itself cannot ensure a profit,
nor can it protect against a loss in a declining market. If you <PAGE>
PAGE 129
decide to discontinue the program and redeem your shares when their
net asset value is less than what you paid for them, you will incur
a loss.

For a discussion on dollar-cost averaging, see Appendix E.

Automatic Directed Dividends

Between a non-custodial account and an IRA, or 401(k) plan account
or other qualified retirement account of which American Express
Trust Company acts as custodian;

Between two American Express Trust Company custodial accounts with
different owners (for example, you may not exchange dividends from
your IRA to the IRA of your spouse);

REDEEMING SHARES

You have a right to redeem your shares at any time. For an
explanation of redemption procedures, please see the prospectus.

'The Exchange closes for reasons other than the usual weekend and
holiday closings or trading on the Exchange is restricted, or

<PAGE>
PAGE 130

'Disposal of the Portfolio's securities is not reasonably
practicable or it is not reasonably practicable for the Fund to
determine the fair value of its net assets, or

'The SEC, under the provisions of the Investment Company Act of
1940 (the 1940 Act), as amended, declares a period of emergency to
exist.

PAY-OUT PLANS

To start any of these plans, please write or call American Express
Shareholder Service, P.O. Box 534, Minneapolis, MN 55440-0534,
612-671-3733. Your authorization must be received in the
Minneapolis headquarters at least five days before the date you <PAGE>
PAGE 131
want your payments to begin. The initial payment must be at least
$50. Payments will be made on a monthly, bimonthly, quarterly,
semiannual or annual basis. Your choice is effective until you
change or cancel it.

Plan #1: Pay-out for a fixed period of time

Plan #2: Redemption of a fixed number of shares

Plan #3: Redemption of a fixed dollar amount

If you decide on a fixed dollar amount, whatever number of shares
is necessary to make the payment will be redeemed in regular
installments until the account is closed.

Plan #4: Redemption of a percentage of net asset value

TAXES

<PAGE>
PAGE 132
Retirement Accounts

If you have a nonqualified investment in the Fund and you wish to
move part or all of those shares to an IRA or qualified retirement
account in the Fund, you can do so without paying a sales charge.
However, this type of exchange is considered a sale of shares and
may result in a gain or loss for tax purposes. In addition, this
type of exchange may result in an excess contribution under IRA or
qualified plan regulations if the amount exchanged plus the amount
of the initial sales charge applied to the amount exchanged exceeds
annual contribution limitations. For example: If you were to
exchange $2,000 in Class A shares from a nonqualified account to an
IRA without considering the 5% ($100) initial sales charge
applicable to that $2,000, you may be deemed to have exceeded
current IRA annual contribution limitations. You should consult
your tax advisor for further details about this complex subject.

Net investment income dividends received should be treated as
dividend income for federal income tax purposes. Corporate
shareholders are generally entitled to a deduction equal to 70% of
that portion of the Fund's dividend that is attributable to
dividends the Fund received from domestic (U.S.) securities. For
the fiscal year ended Oct. 31, 1996, 1.11% of the Fund's net
investment income dividends qualified for the corporate deduction.
The exclusion for dividends received by individuals is no longer
available.

The Fund may be subject to U.S. taxes resulting from holdings in a
passive foreign investment company (PFIC). A foreign corporation
is a PFIC when 75% or more of its gross income for the taxable year
is passive income of 50% or more of the average value of its assets
consists of assets that produce or could produce passive income.

<PAGE>
PAGE 133
Under the Internal Revenue Code of 1986 (the Code), gains or losses
attributable to fluctuations in exchange rates which occur between
the time the Fund accrues interest or other receivables, or accrues
expenses or other liabilities denominated in a foreign currency and
the time the Fund actually collects such receivables or pays such
liabilities generally are treated as ordinary income or ordinary
loss. Similarly, gains or losses on disposition of debt securities
denominated in a foreign currency attributable to fluctuations in
the value of the foreign currency between the date of acquisition
of the security and the date of disposition also are treated as
ordinary gains or losses. These gains or losses, referred to under
the Code as "section 988" gains or losses, may increase or decrease
the amount of the Fund's investment company taxable income to be
distributed to its shareholders as ordinary income. If the Fund
incurs a loss, a portion of the dividends distributed to
shareholders may be considered a return of capital.

Under the Revenue Reconciliation Act of 1989, if a mutual fund is
the holder of record of any share of stock on the record date for
any dividend payable with respect to such stock, such dividend
shall be included in gross income by the Fund as of the later of
(1) the date such share became ex-dividend or (2) the date the Fund
acquired such share. Because the dividends on some foreign equity
investments may be received some time after the stock goes ex-
dividend, and in certain rare cases may never be received by the
Fund, this rule may cause the Fund to take into income dividend
income which it has not received and pay such income to its
shareholders. To the extent that the dividend is never received,
the Fund will take a loss at the time that a determination is made
that the dividend will not be received.

<PAGE>
PAGE 134
AGREEMENTS

Investment Management Services Agreement

The Trust, on behalf of the Portfolio, has an Investment Management
Services Agreement with AEFC. For its services, AEFC is paid a fee
based on the following schedule:

Assets Annual rate at
(billions) each asset level

First $0.25 0.800%
Next 0.25 0.775
Next 0.25 0.750
Next 0.25 0.725
Next 1.0 0.700
Over 2.0 0.675

On Oct. 31, 1996, the daily rate applied to the Portfolio's net
assets was equal to 0.758% on an annual basis. The fee is
calculated for each calendar day on the basis of net assets as of
the close of business two business days prior to the day for which
the calculation is made.

The management fee is paid monthly. Under the agreement, the total
amount paid was $6,884,604 for the fiscal year ended Oct. 31, 1996,
$5,454,220 for fiscal year 1995, and $4,068,528 for fiscal year
1994.

Under the agreement, the Portfolio also pays taxes, brokerage
commissions and nonadvisory expenses, which include custodian fees;
audit and certain legal fees; fidelity bond premiums; registration
fees for shares; Portfolio office expenses; postage of
confirmations except purchase confirmations; consultants' fees;
compensation of board members, officers and employees; corporate
filing fees; organizational expenses; expenses incurred in
connection with lending securities of the Portfolio; and expenses
properly payable by the Portfolio, approved by the board. Under
the agreement, the nonadvisory expenses paid by the Fund and
Portfolio were $1,533,786 for the fiscal year ended Oct. 31, 1996,
$1,035,610 for fiscal year 1995, and $913,642 for fiscal year 1994.

In this section prior to May 13, 1996, the fees and expenses
described were paid directly by the Fund. After that date, the
management fees were paid by the Portfolio.

<PAGE>
PAGE 135
Administrative Services Agreement

The Fund has an Administrative Services Agreement with AEFC. Under
this agreement, the Fund pays AEFC for providing administration and
accounting services. The fee is calculated as follows:

Assets Annual rate
(billions) each asset level

First $0.25 0.060%
Next 0.25 0.055
Next 0.25 0.050
Next 0.25 0.045
Next 1.0 0.040
Over 2.0 0.035

On Oct. 31, 1996, the daily rate applied to the Fund's net assets
was equal to 0.052% on an annual basis. The fee is calculated for
each calendar day on the basis of net assets as of the close of
business two business days prior to the day for which the
calculation is made. Under the agreement, the Fund paid fees of
$478,154 for the fiscal year ended Oct. 31, 1996.

Transfer Agency Agreement

The Fund has a Transfer Agency Agreement with AEFC. This agreement
governs AEFC's responsibility for administering and/or performing
transfer agent functions, for acting as service agent in connection
with dividend and distribution functions and for performing
shareholder account administration agent functions in connection
with the issuance, exchange and redemption or repurchase of the
Fund's shares. Under the agreement, AEFC will earn a fee from the
Fund determined by multiplying the number of shareholder accounts
at the end of the day by a rate determined for each class per year
and dividing by the number of days in the year. The rate for Class
A and Class Y is $15 per year and for Class B is $16 per year. The
fees paid to AEFC may be changed from time to time upon agreement
of the parties without shareholder approval. Under the agreement,
the Fund paid fees of $1,893,365 for the fiscal year ended Oct. 31,
1996.

Distribution Agreement

Under a Distribution Agreement, sales charges deducted for
distributing Fund shares are paid to American Express Financial
Advisors daily. These charges amounted to $4,775,013 for the
fiscal year ended Oct. 31, 1996. After paying commissions to
personal financial advisors, and other expenses, the amount
retained was $63,372. The amounts were $3,612,739 and $1,101,825
for fiscal year 1995, and $8,345,042 and $2,816,762 for fiscal year
1994.

<PAGE>
PAGE 136
onal information about commissions and compensation for the fiscal
year ended Oct. 31, 1996, is contained in the following table:
<TABLE><CAPTION>
(1) (2) (3) (4) (5)
Net Compensation
Name of Underwriting on Redemption
Principal Discounts and and Brokerage Other
Underwriter Commissions Repurchases Commissions Compensation
<S> <C> <C> <C> <C>
AEFC None None $9,806* $575,229**

American
Express
Financial
Advisors $4,775,013 None None None
</TABLE>
*For further information see "Brokerage Commissions Paid to Brokers
Affiliated with AEFC."
**Distribution fees paid pursuant to the Plan and Agreement of
Distribution.

Shareholder Service Agreement

Plan and Agreement of Distribution

For Class B shares, to help American Express Financial Advisors
defray the cost of distribution and servicing, not covered by the
sales charges received under the Distribution Agreement, the Fund
and American Express Financial Advisors entered into a Plan and
Agreement of Distribution (Plan). These costs cover almost all
aspects of distributing the Fund's shares except compensation to
the sales force. A substantial portion of the costs are not
specifically identified to any one fund in the IDS MUTUAL FUND
GROUP. Under the Plan, American Express Financial Advisors is paid
a fee at an annual rate of 0.75% of the Fund's average daily net
assets attributable to Class B shares.

The Plan must be approved annually by the board, including a
majority of the disinterested board members, if it is to continue
for more than a year. At least quarterly, the board must review
written reports concerning the amounts expended under the Plan and
the purposes for which such expenditures were made. The Plan and
any agreement related to it may be terminated at any time by vote
of a majority of board members who are not interested persons of
the Fund and have no direct or indirect financial interest in the
operation of the Plan or in any agreement related to the Plan, or
by vote of a majority of the outstanding voting securities of the
Fund's Class B shares or by American Express Financial Advisors.
The Plan (or any agreement related to it) will terminate in the
event of its assignment, as that term is defined in the 1940 Act, <PAGE>
PAGE 137
nded. The Plan may not be amended to increase the amount to be
spent for distribution without shareholder approval, and all
material amendments to the Plan must be approved by a majority of
the board members, including a majority of the board members who
are not interested persons of the Fund and who do not have a
financial interest in the operation of the Plan or any agreement
related to it. The selection and nomination of disinterested board
members is the responsibility of the other disinterested board
members. No board member who is not an interested person, has any
direct or indirect financial interest in the operation of the Plan
or any related agreement. For the fiscal year ended Oct. 31, 1996,
under the agreement, the Fund paid fees of $575,229.

Total fees and expenses

Total combined fees and nonadvisory expenses of both the Fund and
the Portfolio cannot exceed the most restrictive applicable state
limitation. Currently, the most restrictive applicable state
expense limitation, subject to exclusion of certain expenses, is
2.5% of the first $30 million of the Fund's average daily net
assets, 2% of the next $70 million and 1.5% of average daily net
assets over $100 million, on an annual basis. At the end of each
month, if the fees and expenses of the Fund exceed this limitation
for the Fund's fiscal year in progress, AEFC will assume all
expenses in excess of the limitation. AEFC then may bill the Fund
for such expenses in subsequent months up to the end of that fiscal
year, but not after that date. No interest charges are assessed by
AEFC for expenses it assumes. The Fund paid total fees and
expenses of $12,887,503 for the fiscal year ended Oct. 31, 1996.

ORGANIZATIONAL INFORMATION

IDS Global Series, Inc., of which IDS Global Growth Fund is a part,
is an open-end management company, as defined in the Investment
Company Act of 1940. It was incorporated on Oct. 28, 1988 in
Minnesota. The Fund headquarters are at 901 S. Marquette Ave.,
Suite 2810, Minneapolis, MN 55402-3268.

BOARD MEMBERS AND OFFICERS

The following is a list of the Fund's board members who, except for
Mr. Dudley, are also board members and officers of all other funds
in the IDS MUTUAL FUND GROUP. Mr. Dudley is a board member of the
47 publicly offered funds. The board members and officers also are
board members and officers of all five trusts in The Preferred
Master Trust Group. All shares have cumulative voting rights with
respect to the election of board members.

H. Brewster Atwater, Jr.
Born in 1931
4900 IDS Tower
Minneapolis, MN

Former chairman and chief executive officer, General Mills, Inc.
Director, Merck & Co., Inc. and Darden Restaurants, Inc.<PAGE>
PAGE 138
Lynne V. Cheney'
Born in 1941
American Enterprise Institute
for Public Policy Research (AEI)
1150 17th St., N.W.
Washington, D.C.

William H. Dudley**
Born in 1932
2900 IDS Tower
Minneapolis, MN

Executive vice president and director of AEFC.

Robert F. Froehlke+
Born in 1922
1201 Yale Place
Minneapolis, MN

Former president of all funds in the IDS MUTUAL FUND GROUP.
Director, the ICI Mutual Insurance Co., Institute for Defense
Analyses, Marshall Erdman and Associates, Inc. (architectural
engineering) and Public Oversight Board of the American Institute
of Certified Public Accountants.

David R. Hubers+**
Born in 1943
2900 IDS Tower
Minneapolis, MN

President, chief executive officer and director of AEFC.
Previously, senior vice president, finance and chief financial
officer of AEFC.

Heinz F. Hutter+'
Born in 1929
P.O. Box 2187
Minneapolis, MN

Former president and chief operating officer, Cargill, Incorporated
(commodity merchants and processors).

Anne P. Jones
Born in 1935
5716 Bent Branch Rd.
Bethesda, MD

Attorney and telecommunications consultant. Former partner, law
firm of Sutherland, Asbill & Brennan. Director, Motorola, Inc. and
C-Cor Electronics, Inc.<PAGE>
PAGE 139
Melvin R. Laird
Born in 1922
Reader's Digest Association, Inc.
1730 Rhode Island Ave., N.W.
Washington, D.C.

William R. Pearce+*
Born in 1927
901 S. Marquette Ave.
Minneapolis, MN

President of all funds in the IDS MUTUAL FUND GROUP since June
1993. Former vice chairman of the board, Cargill, Incorporated
(commodity merchants and processors).

Edson W. Spencer+
Born in 1926
4900 IDS Center
80 S. 8th St.
Minneapolis, MN

John R. Thomas**
Born in 1937
2900 IDS Tower
Minneapolis, MN

Senior vice president and director of AEFC.

Wheelock Whitney+
Born in 1926
1900 Foshay Tower
821 Marquette Ave.
Minneapolis, MN

Chairman, Whitney Management Company (manages family assets).

C. Angus Wurtele'
Born in 1934
Valspar Corporation
Suite 1700
Foshay Tower
Minneapolis, MN<PAGE>
PAGE 140
an of the board and retired chief executive officer, The Valspar
Corporation (paints). Director, Bemis Corporation (packaging),
Donaldson Company (air cleaners & mufflers) and General Mills, Inc.
(consumer foods).

The board also has appointed officers who are responsible for day-
to-day business decisions based on policies it has established.

In addition to Mr. Pearce, who is president, the Fund's other
officers are:

Leslie L. Ogg
Born in 1938
901 S. Marquette Ave.
Minneapolis, MN

Vice president, general counsel and secretary of all funds in the
IDS MUTUAL FUND GROUP.

Officers who also are officers and/or employees of AEFC

Peter J. Anderson
Born in 1942
IDS Tower 10
Minneapolis, MN

Vice president-investments of all funds in the IDS MUTUAL FUND
GROUP. Director and senior vice president-investments of AEFC.

Melinda S. Urion
Born in 1953
IDS Tower 10
Minneapolis, MN

Compensation for the Fund Board Members

Members of the board who are not officers of the Fund or of AEFC
receive an annual fee of $200 and the chair of the Contracts
Committee receives an additional $90. Board members receive a $50
per day attendance fee for board meetings. The attendance fee for
meetings of the Contracts and Investment Review Committees is $50;
for meetings of the Audit Committee and Personnel Committee $25 and
for traveling from out-of-state $8. Expenses for attending
meetings are reimbursed.

<PAGE>
PAGE 141
the fiscal year ended Oct. 31, 1996, the members of the board, for
attending up to 25 meetings, received the following compensation:
<TABLE><CAPTION>

Compensation Table

Pension or Estimated Total cash
Aggregate Retirement annual compensation from
compensation benefits benefit the IDS MUTUAL
from the accrued as upon FUND GROUP and the
Board member Fund Fund expenses* retirement Preferred Master Trust Group
<S> <C> <C> <C> <C>
Lynne V. Cheney $ 966 $ 184 $425 $74,500
Robert F. Froehlke 1,006 888 368 76,800
Heinz F. Hutter 1,026 283 205 77,300
Anne P. Jones 1,030 203 425 77,400
Donald M. Kendall 566 1,349 244 36,000
(part of year)
Melvin R. Laird 1,099 680 308 80,600
Lewis W. Lehr 583 1,119 241 36,700
(part of year)
Edson W. Spencer 1,171 243 227 83,300
Wheelock Whitney 983 431 425 75,200
C. Angus Wurtele 971 308 422 75,300
</TABLE>
On Oct. 31, 1996, the Fund's board members and officers as a group
owned less than 1% of the outstanding shares. During the fiscal
year ended Oct. 31, 1996, no board member or officer earned more
than $60,000 from this Fund. All board members and officers as a
group earned $23,145, including $5,688 of retirement plan benefits,
from this Fund.

*The Fund had a retirement plan for its independent board members.
The plan was terminated April 30, 1996.

Compensation for the Portfolio Board Members

Members of the board who are not officers of the Portfolio or of
the Advisor receive an annual fee of $600 for World Growth
Portfolio. They also receive attendance and other fees. These
fees include for each day in attendance at meetings of the board,
$50; for meetings of the Contracts and Investment Review
Committees, $50; meetings of the Audit Committee, $25; for
traveling from out-of-state, $8; and as Chair of the Contracts
Committee, $90. Expenses for attending meetings are reimbursed.

<PAGE>
PAGE 142
During the fiscal period from May 13, 1996 to Oct. 31, 1996 the
members of the board, for attending up to 25 meetings, received the
following compensation, in total, from all Portfolios in the
Preferred Master Trust Group:
<TABLE><CAPTION>

Compensation Table
for World Growth Portfolio

Pension or Estimated Total cash
Aggregate Retirement annual compensation from
compensation benefits benefit the Preferred Master
from the accrued as upon Trust Group and IDS
Board member Portfolio Portfolio expenses retirement MUTUAL FUND GROUP
<S> <C> <C> <C> <C>
Lynne V. Cheney $ 356 $0 $0 $74,500
Robert F. Froehlke 399 0 0 76,800
Heinz F. Hutter 377 0 0 77,300
Anne P. Jones 381 0 0 77,400
Melvin R. Laird 418 0 0 80,600
Edson W. Spencer 419 0 0 83,300
Wheelock Whitney 369 0 0 75,200
C. Angus Wurtele 387 0 0 75,300

</TABLE>
During the fiscal period from May 13, 1996 to Oct. 31, 1996, no
board member or officer earned more than $60,000 from the World
Growth Portfolio. All board members and officers as a group earned
$1,783 from World Growth Portfolio.

CUSTODIAN

The Fund's securities and cash are held by American Express Trust
Company, 1200 Northstar Center West, 625 Marquette Ave.,
Minneapolis, MN 55402-2307, through a custodian agreement. The
Fund also retains the custodian pursuant to a custodian agreement.
The custodian is permitted to deposit some or all of its securities
in central depository systems as allowed by federal law. For its
services, the Portfolio pays the custodian a maintenance charge and
a charge per transaction in addition to reimbursing the custodian's
out-of-pocket expenses.

The custodian has entered into a sub-custodian arrangement with the
Morgan Stanley Trust Company (Morgan Stanley), One Pierrepont
Plaza, Eighth Floor, Brooklyn, NY 11201-2775. As part of this
arrangement, securities purchased outside the United States are
maintained in the custody of various foreign branches of Morgan
Stanley or in such other financial institutions as may be permitted
by law and by the Fund's sub-custodian agreement.

INDEPENDENT AUDITORS

The Fund's and Portfolio's financial statements contained in the
Annual Report to shareholders for the fiscal year ended Oct. 31,
1996, were audited by independent auditors, KPMG Peat Marwick LLP,
4200 Norwest Center, 90 S. Seventh St., Minneapolis, MN 55402-
3900. The independent auditors also provide other accounting and
tax-related services as requested by the Fund.

<PAGE>
PAGE 143
FINANCIAL STATEMENTS

PROSPECTUS

The prospectus for IDS Global Growth Fund dated Dec. 30, 1996, is
hereby incorporated in this SAI by reference.
<PAGE>
PAGE 144

APPENDIX A

DESCRIPTION OF BOND RATINGS

These ratings concern the quality of the issuing corporation. They
are not an opinion of the market value of the security. Such
ratings are opinions on whether the principal and interest will be
repaid when due. A security's rating may change which could affect
its price.

Ratings by Moody's Investors Service, Inc. are Aaa, Aa, A, Baa, Ba,
B, Caa, Ca, and C.

Bonds rated:

Aaa are judged to be of the best quality. They carry the smallest
degree of investment risk and are generally referred to as "gilt
edged." Interest payments are protected by a large or by an
exceptionally stable margin and principal is secure. While the
various protective elements are likely to change, such changes as
can be visualized are most unlikely to impair the fundamentally
strong position of such issues.

Aa are judged to be of high quality by all standards. Together
with the Aaa group they comprise what are generally known as high
grade bonds. They are rated lower than the best bonds because
margins of protection may not be as large as in Aaa securities or
fluctuation of protective elements may be of greater amplitude or
there may be other elements present which make the long-term risk
appear somewhat larger than the Aaa securities.

A possess many favorable investment attributes and are to be
considered as upper-medium-grade obligations. Factors giving
security to principal and interest are considered adequate, but
elements may be present which suggest a susceptibility to
impairment some time in the future.

Baa are considered as medium-grade obligations (i.e., they are
neighter highly protected nor poorly secured). Interest payments
and principal security appear adequate for the present but certain
protective elements may be lacking or may be characteristically
unreliable over any great length of time. Such bonds lack
outstanding investment characteristics and in fact have speculative
characteristics as well.

Ba are judged to have speculative elements; their future cannot be
considered as well-assured. Often the protection of interest and
principal payments may be very moderate, and thereby not well
safeguarded during both good and bad times over the future.
Uncertainty of position characterizes bonds in this class.

B generally lack characteristics of the desirable investment.
Assurance of interest and principal payments or of maintenance of
other terms of the contract over any long period of time may be
small.<PAGE>
PAGE 145
Caa are of poor standing. Such issues may be in default or there
may be present elements of danger with respect to principal or
interest.

Ca represent obligations which are speculative in a high degree.
Such issues are often in default or have other marked shortcomings.

C are the lowest rated class of bonds, and issues so rated can be
regarded as having extremely poor prospects of ever attaining any
real investment standing.

Ratings by Standard & Poor's Corporation are AAA, AA, A, BBB, BB,
B, CCC, CC, C and D.

AAA has the highest rating assigned by S&P. Capacity to pay
interest and repay principal is extremely strong.

AA has a very strong capacity to pay interest and repay principal
and differs from the highest rated issues only in small degree.

A has a strong capacity to pay interest and repay principal,
although it is somewhat more susceptible to the adverse effects of
changes in circumstances and economic conditions than debt in
higher-rated categories.

BBB is regarded as having adequate capacity to pay interest and
repay principal. Whereas it normally exhibits adequate protection
parameters, adverse economic conditions or changing circumstances
are more likely to lead to a weakened capacity to pay interest and
repay principal for debt in this category than in higher-rated
categories.

BB has less near-term vulnerability to default than other
speculative issues. However, it faces major ongoing uncertainties
or exposure to adverse business, financial, or economic conditions
which could lead to inadequate capacity to meet timely interest and
principal payments. The BB rating category is also used for debt
subordinated to senior debt that is assigned an actual or implied
BBB- rating.

B has a greater vulnerability to default but currently has the
capacity to meet interest payments and principal repayments.
Adverse business, financial, or economic conditions will likely
impair capacity or willingness to pay interest and repay principal.
The B rating category is also used for debt subordinated to senior
debt that is assigned an actual or implied BB or BB- rating.

CCC has a currently identifiable vulnerability to default, and is
dependent upon favorable business, financial, and economic
conditions to meet timely payment of interest and repayment of
principal. In the event of adverse business, financial, or
economic conditions, it is not likely to have the capacity to pay
interest and repay principal. The CCC rating category is also used
for debt subordinated to senior debt that is assigned an actual or
implied B or B- rating.<PAGE>
PAGE 146
CC typically is applied to debt subordinated to senior debt that is
assigned an actual or implied CCC rating.

C typically is applied to debt subordinated to senior debt that is
assigned an actual or implied CCC- rating. The C rating may be
used to cover a situation where a bankruptcy petition has been
filed, but debt service payments are continued.

D is in payment default. The D rating category is used when
interest payments or principal payments are not made on the due
date, even if the applicable grace period has not expired, unless
S&P believes that such payments will be made during such grace
period. The D rating also will be used upon the filing of a
bankruptcy petition if debt service payments are jeopardized.

FOREIGN CURRENCY TRANSACTIONS

The Portfolio also may enter into forward contracts when management
of the Portfolio believes the currency of a particular foreign
country may suffer a substantial decline against another currency.
It may enter into a forward contract to sell, for a fixed amount of
dollars, the amount of foreign currency approximating the value of
some or all of the Portfolio's securities denominated in such
foreign currency. The precise matching of forward contract amounts
and the value of securities involved generally will not be possible
since the future value of such securities in foreign currencies
more than likely will change between the date the forward contract
is entered into and the date it matures. The projection of short-
term currency market movements is extremely difficult and
successful execution of a short-term hedging strategy is highly
uncertain. The Portfolio will not enter into such forward
contracts or maintain a net exposure to such contracts when <PAGE>
PAGE 148
consummating the contracts would obligate the Portfolio to deliver
an amount of foreign currency in excess of the value of the
Portfolio's securities or other assets denominated in that
currency. Under normal circumstances, consideration of the
prospect for currency parities will be incorporated into the longer
term investment strategies. The investment manager believes it is
important, however, to have the flexibility to enter into such
forward contracts when it determines it is in the best interest of
the Portfolio to do so.

The Portfolio's dealing in forward contracts will be limited to the
transactions described above. This method of protecting the value
of the Portfolio's securities against a decline in the value of a
currency does not eliminate fluctuations in the underlying prices <PAGE>
PAGE 149
of the securities. It simply establishes a rate of exchange that
can be achieved at some point in time. Although such forward
contracts tend to minimize the risk of loss due to a decline in
value of hedged currency, they tend to limit any potential gain
that might result should be the value of such currency increase.

Similarly, instead of purchasing a call option to hedge against an
anticipated increase in the dollar cost of securities to be
acquired, the Portfolio could write a put option on the relevant
currency which, if rates move in the manner projected, will expire
unexercised and allow the Portfolio to hedge such increased cost up
to the amount of the premium.

<PAGE>
PAGE 151
The purchase and sale of exchange-traded foreign currency options,
however, is subject to the risks of availability of a liquid
secondary market described above, as well as the risks regarding
adverse market movements, margining of options written, the nature
of the foreign currency market, possible intervention by
governmental authorities and the effects of other political and
economic events. In addition, exchange-traded options on foreign
currencies involve certain risks not presented by the over-the-
counter market. For example, exercise and settlement of such
options must be made exclusively through the OCC, which has
established banking relationships in certain foreign countries for
the purpose. As a result, the OCC may, if it determines that
foreign governmental restrictions or taxes would prevent the
orderly settlement of foreign currency option exercises, or would
result in undue burdens on OCC or its clearing member, impose
special procedures on exercise and settlement, such as technical
changes in the mechanics of delivery of currency, the fixing of
dollar settlement prices or prohibitions on exercise.

OPTIONS AND FUTURES CONTRACTS

The Portfolio may buy or write options traded on any U.S. or
foreign exchange or in the over-the-counter market. The Portfolio
may enter into stock index futures contracts traded on any U.S. or
foreign exchange. The Portfolio also may buy or write put and call
options on these futures and on stock indexes. Options in the
over-the-counter market will be purchased only when the investment
manager believes a liquid secondary market exists for the options
and only from dealers and institutions the investment manager
believes present a minimal credit risk. Some options are
exercisable only on a specific date. In that case, or if a liquid
secondary market does not exist, the Portfolio could be required to
buy or sell securities at disadvantageous prices, thereby incurring
losses.

Buying options. Put and call options may be used as a trading
technique to facilitate buying and selling securities for
investment reasons. Options are used as a trading technique to
take advantage of any disparity between the price of the underlying
security in the securities market and its price on the options <PAGE>
PAGE 153
market. It is anticipated the trading technique will be utilized
only to effect a transaction when the price of the security plus
the option price will be as good or better than the price at which
the security could be bought or sold directly. When the option is
purchased, the Portfolio pays a premium and a commission. It then
pays a second commission on the purchase or sale of the underlying
security when the option is exercised. For record keeping and tax
purposes, the price obtained on the purchase of the underlying
security will be the combination of the exercise price, the premium
and both commissions. When using options as a trading technique,
commissions on the option will be set as if only the underlying
securities were traded.

Writing covered options. The Portfolio will write covered options
when it feels it is appropriate and will follow these guidelines:

'Underlying securities will continue to be bought or sold solely on
the basis of investment considerations consistent with the
Portfolio's goal.

A call option written by the Portfolio will be covered (i) if the
Portfolio owns the security in connection with which the option was
written, or has an absolute and immediate right to acquire such
security upon conversion of exchange or other securities held in
its portfolio, or (ii) in such other manner that is in accordance
with the rules of the exchange on which the option is traded and
applicable laws and regulations. A put option written by the
Portfolio will be covered through (i) segregation in a segregated
account held by the Portfolio's custodian of cash, short-term U.S.
government securities or money market instruments in an amount
equal to the exercise price of the option, or (ii) in any other
manner that is in accordance with the requirements of the exchange
on which the option is traded and applicable laws and regulations.
<PAGE>
PAGE 154
Upon exercise of the option, the holder is required to pay the
purchase price of the underlying security in the case of a call
option, or to deliver the security in return for the purchase price
in the case of a put option. Conversely the writer is required to
deliver the security in the case of a call option or to purchase
the security in the case of a put option. Options that have been
purchased or written may be closed out prior to exercise or
expiration by entering into an offsetting transaction on the
exchange on which the initial position was established subject to
the availability of a liquid secondary market.

The Portfolio may deal in options on securities that are traded in
U.S. and foreign securities exchanges and over-the-counter markets
and on domestic and foreign securities indexes.

FUTURES CONTRACTS. A futures contract is an agreement between two
parties to buy and sell a security for a set price on a future
date. Futures contracts are commodity contracts listed on
commodity exchanges. Futures contracts trade in a manner similar
to the way a stock trades on a stock exchange and the commodity
exchanges, through their clearing corporations, guarantee <PAGE>
PAGE 155
performance of the contracts. There are contracts based on U.S.
Treasury bonds, Standard & Poor's 500 Index (S&P 500 Index), and
other broad stock market indexes as well as narrower sub-indexes.
The S&P 500 Index assigns relative weightings to the common stocks
included in the Index, and the Index fluctuates with changes in the
market values of those stocks. In the case of S&P 500 Index
futures contracts, the specified multiple is $500. Thus, if the
value of the S&P 500 Index were 150, the value of one contract
would be $75,000 (150 x $500).

The purpose of a futures contract is to allow the Portfolio to gain
rapid exposure to or protect itself from changes in the market
without actually buying or selling securities. For example, a
Portfolio may find itself with a high cash position at the
beginning of a market rally. Conventional procedures of purchasing
a number of individual issues entail the lapse of time and the
possibility of missing a significant market movement. By using
futures contracts, the Portfolio can obtain immediate exposure to
the market and benefit from the beginning stages of a rally. The
buying program can then proceed and once it is completed (or as it
proceeds), the contracts can be closed. Conversely, in the early
stages of a market decline, market exposure can be promptly offset
by entering into stock index futures contracts to sell units of an
index and individual stocks can be sold over a longer period under
cover of the resulting short contract position.

Risks of Transactions in Futures Contracts

The Portfolio may elect to close some or all of its contracts prior
to expiration. Although the Portfolio intends to enter into <PAGE>
PAGE 156
futures contracts only on exchanges or boards of trade where there
appears to be an active secondary market, there is no assurance
that a liquid secondary market will exist for any particular
contract at any particular time. In such event, it may not be
possible to close a futures contract position, and in the event of
adverse price movements, the Portfolio would have to make daily
cash payments of variation margin. Such price movements, however,
will be offset all or in part by the price movements of the
securities owned by the Portfolio. Of course, there is no
guarantee the price of the securities will correlate with the price
movements in the futures contract and thus provide an offset to
losses on a futures contract.

OPTIONS ON FUTURES CONTRACTS. Options on futures contracts give
the holder a right to buy or sell futures contracts in the future.
Unlike a futures contract, which requires the parties to the
contract to buy and sell a security on a set date, an option on a
futures contract merely entitles its holder to decide on or before
a future date (within nine months of the date of issue) whether to
enter into such a contract. If the holder decides not to enter
into the contract, all that is lost is the amount (premium) paid
for the option. Furthermore, because the value of the option is
fixed at the point of sale, there are no daily payments of cash to
reflect the change in the value of the underlying contract.
However, since an option gives the buyer the right to enter into a
contract at a set price for a fixed period of time, its value does
change daily and that change is reflected in the net asset value of
the Portfolio.

The risk the Portfolio assumes when it buys an option is the loss
of the premium paid for the option. The risk involved in writing
options on futures contracts the Portfolio owns, or on securities
held in its portfolio, is that there could be an increase in the
market value of such contracts or securities. If that occurred,
the option would be exercised and the asset sold at a lower price
than the cash market price. To some extent, the risk of not <PAGE>
PAGE 157
realizing a gain could be reduced by entering into a closing
transaction. The Portfolio could enter into a closing transaction
by purchasing an option with the same terms as the one it had
previously sold. The cost to close the option and terminate the
Portfolio's obligation, however, might be more or less than the
premium received when it originally wrote the option. Furthermore,
the Portfolio might not be able to close the option because of
insufficient activity in the options market. Purchasing options
also limits the use of monies that might otherwise be available for
long-term investments.

The IRS has ruled publicly that an exchange-traded call option is a
security for purposes of the 50%-of-assets test and that its issuer
is the issuer of the underlying security, not the writer of the
option, for purposes of the diversification requirements. In order
to avoid realizing a gain within the three-month period, the
Portfolio may be required to defer closing out a contract beyond
the time when it might otherwise be advantageous to do so. The
Portfolio also may be restricted in purchasing put options for the
purpose of hedging underlying securities because of applying the
short sale holding period rules with respect to such underlying
securities.

<PAGE>
PAGE 158
Accounting for futures contracts will be according to generally
accepted accounting principles. Initial margin deposits will be
recognized as assets due from a broker (the Portfolio's agent in
acquiring the futures position). During the period the futures
contract is open, changes in value of the contract will be
recognized as unrealized gains or losses by marking to market on a
daily basis to reflect the market value of the contract at the end
of each day's trading. Variation margin payments will be made or
received depending upon whether gains or losses are incurred. All
contracts and options will be valued at the last-quoted sales price
on their primary exchange.
<PAGE>
PAGE 159

APPENDIX D

MORTGAGE-BACKED SECURITIES

APPENDIX E

DOLLAR-COST AVERAGING

Dollar-cost averaging

Average market price of a share over 5 periods:
$5.00 ($25.00 divided by 5).
The average price you paid for each share:
$4.84 ($500 divided by 103.4).
<PAGE>
<PAGE>
PAGE 161
Part C. OTHER INFORMATION

Item 24. Financial Statements and Exhibits

(a) FINANCIAL STATEMENTS:

List of financial statements filed as part of this Post-
Effective Amendment to the Registration Statement
for IDS Global Bond Fund:

o Independent auditors' report dated Dec. 6, 1996.
o Statement of assets and liabilities, Oct. 31, 1996.
o Statement of operations, year ended Oct. 31, 1996.
o Statements of changes in net assets, for the two-year
period ended Oct. 31, 1996 and year ended Oct. 31,
1995.

For World Income Portfolio:

o Independent auditors' report dated Dec. 6, 1996.
o Statement of assets and liabilities, Oct. 31, 1996.
o Statement of operations, period from May 13, 1996 to
Oct. 31, 1996.
o Statement of changes in net assets, period from
May 13, 1996 to Oct. 31, 1996.
o Notes to financial statements.
o Investments in securities, Oct. 31, 1996.
o Notes to investments in securities.

For IDS Global Growth Fund:

o Independent auditors' report dated Dec. 6, 1996.
o Statement of assets and liabilities, Oct. 31, 1996.
o Statement of operations, year ended Oct. 31,
1996.
o Statements of changes in net assets, for the two-year
period ended May 13, 1996 and Oct. 31, 1996.

For World Growth Portfolio:

o Independent auditors' report dated Dec. 6, 1996.
o Statement of assets and liabilities, Oct. 31, 1996.
o Statement of operations, period from May 13, 1996 to
Oct. 31, 1996.
o Statement of changes in net assets, period from May 13,
1996 to Oct. 31, 1996.
o Notes to financial statements.
o Investments in securities, Oct. 31, 1996.
o Notes to investments in securities.

(b) Exhibits:

1. Articles of Incorporation dated October 28, 1988, filed as
Exhibit 1 to Registration Statement No. 33-25824, are
incorporated herein by reference. Articles of Amendment,
dated October 10, 1990, filed as Exhibit 1 to Registrant's
Post Effective Amendment No. 9 to Registration Statement No.
33-25824, are incorporated herein by reference.<PAGE>
PAGE 162
2. Copy of By-laws, filed as Exhibit 2 to Registrant's Initial
Registration Statement No. 33-25824, are incorporated herein
by reference.

3. Not Applicable.

4. Not Applicable.

5(a). Copy of Investment Management Services Agreement between
IDS Global Series, Inc., on behalf of IDS Global Bond
Fund and IDS Global Growth Fund and American Express
Financial Corporation, dated March 20, 1995, is filed
electronically herewith. The agreement was assumed by
the Portfolio when the Funds adopted the master/feeder
structure.

5(b). Copy of Investment Management Services Agreement between
IDS Global Series, Inc., on behalf of IDS Global Balanced
Fund and American Express Financial Corporation, dated
November 13, 1996, is filed electronically herewith.

The agreement for IDS Global Bond and IDS Global Growth Fund
was assumed by corresponding Portfolios when each Fund adopted
the master/feeder structure. IDS Emerging Markets Fund and
IDS Innovations Fund are part of a master/feeder structure,
and therefore the Investment Management Services Agreement are
with the corresponding Portfolios.

6(a). Copy of Distribution Agreement between IDS Global Series,
Inc., on behalf of IDS Global Bond Fund and IDS Global
Growth Fund and American Express Financial Advisors Inc.,
dated March 20, 1995, is filed electronically herewith.

6(b). Copy of Distribution Agreement between IDS Global Series,
Inc., on behalf of IDS Emerging Markets Fund, IDS Global
Balanced Fund and IDS Innovations Fund and American
Express Financial Advisors Inc., dated Noveber 13, 1996,
is filed electronically herewith.

7. All employees are eligible to participate in a profit sharing
plan. Entry into the plan is Jan. 1 or July 1. The
Registrant contributes each year an amount up to 15 percent of
their annual salaries, the maximum deductible amount permitted
under Section 404(a) of the Internal Revenue Code.

8(a). Copy of Custodian Agreement between IDS Global Series,
Inc., on behalf of IDS Global Bond Fund and IDS Global
Growth Fund and American Express Trust Company, dated
March 20, 1995, is filed electronically herewith.

8(b). Copy of Custodian Agreement between IDS Global Series,
Inc., on behalf of IDS Emerging Markets Fund, IDS Global
Balanced Fund and IDS Innovations Fund and American
Express Trust Company, dated November 13, 1996, is filed
electronically herewith.

<PAGE>
PAGE 163
8(c). Copy of Custody Agreement between Morgan Stanley Trust
Company and IDS Bank and Trust dated May, 1993, filed
electronically as Exhibit 8(b) to Registrant's Post-
Effective Amendment No. 22 to Registration Statement No.
33-25824, is incorporated herein by reference.

8(d). Copy of Addendum to Custodian Agreement between IDS
Global Series, Inc. on behalf of IDS Emerging Markets
Fund, IDS Innovations Fund, American Express Trust
Company and American Express Financial Corporation dated
November 13, 1996, filed electronically herewith.

8(e). Copy of Addendum to Custodian Agreement between IDS
Global Series, Inc., on behalf of IDS Global Bond Fund
and IDS Global Growth Fund, American Express Trust
Company and American Express Financial Corporation dated
May 13, 1996, filed electronically herewith.

9(a). Copy of Transfer Agency Agreement between IDS Global
Series, Inc., on behalf of IDS Global Bond Fund and IDS
Global Growth Fund and American Express Financial
Corporation, dated March 20, 1995, is filed
electronically herewith.

9(b). Copy of Transfer Agency Agreement between IDS Global
Series, Inc., on behalf of IDS Emerging Markets Fund, IDS
Global Balanced Fund and IDS Innovations Fund and
American Express Financial Corporation, dated November
13, 1996, is filed electronically herewith.

9(c). Copy of License Agreement dated January 12, 1989, filed
as Exhibit 9(b) to Registrant's Post-Effective Amendment
No. 1 to Registration Statement No. 33-25824, is
incorporated herein by reference.

9(d). Copy of Shareholder Service Agreement between IDS Global
Series, Inc., on behalf of IDS Global Bond Fund and IDS
Global Growth Fund and American Express Financial
Advisors Inc., dated March 20, 1995, is filed
electronically herewith.

9(e). Copy of Shareholder Service Agreement between IDS Global
Series, Inc., on behalf of IDS Emerging Markets Fund, IDS
Global Balanced Fund and IDS Innovations Fund and
American Express Financial Advisors Inc., dated November
13, 1996, is filed electronically herewith.

9(f). Copy of Administrative Services Agreement between IDS
Global Series, Inc., on behalf of IDS Global Bond Fund
and IDS Global Growth Fund and American Express Financial
Corporation, dated March 20, 1995, is filed
electronically herewith.

9(g). Copy of Administrative Services Agreement between IDS
Global Series, Inc., on behalf of IDS Emerging Markets
Fund, IDS Global Balanced Fund and IDS Innovations Fund
and American Express Financial Corporation, dated
November 13, 1996, is filed electronically herewith.
<PAGE>
PAGE 164
9(h). Copy of Agreement and Declaration of Unitholders between
IDS Emerging Markets Fund Inc. and Strategist Emerging
Markets Fund dated November 13, 1996, is filed
electronically herewith.

9(i). Copy of Agreement and Declaration of Unitholders between
IDS Innovations Fund and Strategist World Technologies
Fund dated November 13, 1996, is filed electronically
herewith.

9(j). Copy of Agreement and Declaration of Unitholders between
IDS Global Series, Inc. on behalf of IDS Global Bond Fund
and Strategist World Fund, Inc. on behalf of Strategist
World Income Fund dated May 13, 1996, is filed
electronically herewith.

9(k). Copy of Agreement and Declaration of Unitholders between
IDS Global Series, Inc. on behalf of IDS Global Growth
Fund and Strategist World Growth Fund, Inc. on behalf of
Strategist World Growth Fund dated May 13, 1996, is filed
electronically herewith.

10. Opinion and consent of counsel as to the legality of the
securities being registered is filed with Registrant's
most recent 24f-2 Notice.

11. Independent Auditors' Consent, filed electronically
herewith.

12. None.

13. Copy of agreement made in consideration for providing
initial capital between IDS Global Series, Inc., and IDS
Financial Corporation filed as Exhibit 13 to Registration
Statement No. 33-25824, is incorporated herein by
reference.

14. Forms of Keogh, IRA and other retirement plans, filed as
Exhibits 14(a) through 14(n) to IDS Growth Fund, Inc.,
Post-Effective Amendment No. 34 to Registration Statement
No. 2-38355 on Sept. 8, 1986, are incorporated herein by
reference.

15(a). Copy of Plan and Agreement of Distribution between IDS
Global Series, Inc., on behalf of IDS Global Bond Fund
and IDS Global Growth Fund and American Express Financial
Advisors Inc., dated March 20, 1995, is filed
electronically herewith.

15(b). Copy of Plan and Agreement of Distribution between IDS
Global Series, Inc., on behalf of IDS Emerging Markets
Fund, IDS Global Balanced Fund and IDS Innovations Fund
and American Express Financial Advisors Inc., dated
November 13, 1996, is filed electronically herewith.

<PAGE>
PAGE 165

16. Schedule for computation of each performance quotation
provided in the Registration Statement in response to
Item 22, filed as Exhibit 16(b) to Registrant's Post-
Effective Amendment No. 15 to Registration Statement No.
33-25824, is incorporated herein by reference.

17. Financial Data Schedules, filed electronically herewith.

18. Copy of Plan pursuant to Rule 18f-3 under the 1940 Act
filed electronically as Exhibit 18 to Registrant's Post-
Effective Amendment No. 22 to Registration Statement No.
33-25824, is incorporated herein by reference.

19(a). Directors' Power of Attorney dated Nov. 10, 1994, filed
electronically as Exhibit 18(a) to Registrant's Post-
Effective Amendment No. 20, is incorporated herein by
reference.

19(b). Officers' Power of Attorney, dated Nov. 1, 1995, to sign
Amendments to this Registration Statement, filed
electronically as Exhibit 19(b) to Registrant's Post-
Effective Amendment No. 24, is incorporated herein by
reference.

19(c). Trustees Power of Attorney dated April 11, 1996, is filed
electronically herewith.

19(d). Officers' Power of Attorney dated April 11, 1996, is
filed electronically herewith.

Item 25. Persons Controlled by or Under Common Control with
Registrant

None.

Item 26. Number of Holders of Securities

(1) (2)
Number of Record
Holders as of
Title of Class December 13, 1996

IDS Global Bond
Common Stock
Class A 58,849
Class B 15,279
Class Y 1

IDS Global Growth
Common Stock
Class A 117,163
Class B 26,927
Class Y 4,053

<PAGE>
PAGE 166
Item 27. Indemnification

The Articles of Incorporation of the registrant provide that the
Fund shall indemnify any person who was or is a party or is
threatened to be made a party, by reason of the fact that she or he
is or was a director, officer, employee or agent of the Fund, or is
or was serving at the request of the Fund as a director, officer,
employee or agent of another company, partnership, joint venture,
trust or other enterprise, to any threatened, pending or completed
action, suit or proceeding, wherever brought, and the Fund may
purchase liability insurance and advance legal expenses, all to the
fullest extent permitted by the laws of the State of Minnesota, as
now existing or hereafter amended. The By-laws of the registrant
provide that present or former directors or officers of the Fund
made or threatened to be made a party to or involved (including as
a witness) in an actual or threatened action, suit or proceeding
shall be indemnified by the Fund to the full extent authorized by
the Minnesota Business Corporation Act, all as more fully set forth
in the By-laws filed as an exhibit to this registration statement.

Insofar as indemnification for liability arising under the
Securities Act of 1933 may be permitted to directors, officers and
controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in
the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense
of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities
being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in
the Act and will be governed by the final adjudication of such
issue.

Any indemnification hereunder shall not be exclusive of any other
rights of indemnification to which the directors, officers,
employees or agents might otherwise be entitled. No
indemnification shall be made in violation of the Investment
Company Act of 1940.

<PAGE>
PAGE 167

<PAGE>
PAGE 1<PAGE>
Item 29(c). Not applicable.

Item 30. Location of Accounts and Records

American Express Financial Corporation
IDS Tower 10
Minneapolis, MN 55440

Item 31. Management Services

Not Applicable.

Item 32. Undertakings

(a) Not Applicable.
(b) Not Applicable.
(c) The Registrant undertakes to furnish each person
to whom a prospectus is delivered with a copy of
the Registrant's latest annual report to
shareholders, upon request and without charge.

<PAGE>
PAGE 168
SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant, IDS Global Series,
Inc., certifies that it meets all of the requirements for
efectiveness pursuant to Rule 485(b) under the Securities Act of
1933 and has duly caused this Amendment to its Registration
Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Minneapolis and the State of
Minnesota on the 20th day of December, 1996.

IDS GLOBAL SERIES, INC.

By
Melinda S. Urion, Treasurer

By /s/ William R. Pearce**
William R. Pearce, President

Pursuant to the requirements of the Securities Act of 1933, this
Amendment to its Registration Statement has been signed below by
the following persons in the capacities indicated on the 20th day
of December, 1996.

Signature Capacity

/s/ William R. Pearce** President,
William R. Pearce Principal Executive
Officer and Director

Director
H. Brewster Atwater, Jr.

/s/ Lynne V. Cheney* Director
Lynne V. Cheney

/s/ William H. Dudley* Director
William H. Dudley

/s/ Robert F. Froehlke* Director
Robert F. Froehlke

/s/ David R. Hubers* Director
David R. Hubers

/s/ Heinz F. Hutter* Director
Heinz F. Hutter

/s/ Anne P. Jones* Director
Anne P. Jones
<PAGE>
PAGE 169
Signature Capacity

/s/ Melvin R. Laird* Director
Melvin R. Laird

/s/ Edson W. Spencer* Director
Edson W. Spencer

/s/ John R. Thomas* Director
John R. Thomas

/s/ Wheelock Whitney* Director
Wheelock Whitney

/s/ C. Angus Wurtele* Director
C. Angus Wurtele

*Signed pursuant to Directors' Power of Attorney dated November 10,
1994, filed electronically as Exhibit 18(a) to Registrant's Post-
Effective Amendment No. 20, by:

Leslie L. Ogg

**Signed pursuant to Officers' Power of Attorney, dated November 1,
1995 filed electronically as Exhibit 19(b) to Registrant's Post-
Effective Amendment No. 24 by:

Leslie L. Ogg
<PAGE>
PAGE 170
SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, WORLD TRUST consents to the filing
of this Amendment to the Registration Statement signed on its
behalf by the undersigned, thereunto duly authorized, in the City
of Minneapolis and the State of Minnesota on the 20th day of
December, 1996.

WORLD TRUST

By
Melinda S. Urion, Treasurer

By /s/ William R. Pearce**
William R. Pearce, President

Signature Capacity

/s/ William R. Pearce** Trustee
William R. Pearce

H. Brewster Atwater, Jr. Trustee

/s/ Lynne V. Cheney* Trustee
Lynne V. Cheney

/s/ William H. Dudley* Trustee
William H. Dudley

/s/ Robert F. Froehlke* Trustee
Robert F. Froehlke

/s/ David R. Hubers* Trustee
David R. Hubers

/s/ Heinz F. Hutter* Trustee
Heinz F. Hutter

/s/ Anne P. Jones* Trustee
Anne P. Jones

/s/ Melvin R. Laird* Trustee
Melvin R. Laird
<PAGE>
PAGE 171
Signature Capacity

Trustee
Edson W. Spencer

/s/ John R. Thomas* Trustee
John R. Thomas

Trustee
Wheelock Whitney

/s/ C. Angus Wurtele* Trustee
C. Angus Wurtele

*Signed pursuant to trustees Power of Attorney dated April 11,
1996, filed electronically as Exhibit 19(c) herewith by:

_____________________________
Leslie L. Ogg

**Signed pursuant to Officers' Power of Attorney dated April 11,
1996, filed electronically as Exhibit 19(d) herewith by:

_____________________________
Leslie L. Ogg

<PAGE>
PAGE 172
CONTENTS OF THIS POST-EFFECTIVE AMENDMENT NO. 27 TO
REGISTRATION STATEMENT NO. 33-25824

This Post-Effective Amendment contains the following papers and
documents:

The facing sheet.

Cross reference sheet.

Part A.

IDS Global Bond Fund prospectus.
IDS Global Growth Fund prospectus.

Part B.

Statement of Additional Information for IDS Global Bond Fund.
Statement of Additional Information for IDS Global Growth
Fund.

Financial Statements.

Part C.

Other information.
Exhibits

The signatures.

<PAGE>
PAGE 1
IDS Global Series, Inc.
File No. 33-25824/811-5696

EXHIBIT INDEX

Exhibit 5 (a): Copy of Investment Management Services Agreement
between IDS Global Series, Inc., on behalf of IDS
Global Bond Fund and IDS Global Growth Fund and
American Express Financial Corporation, dated March
20, 1995.

Exhibit 5 (b): Copy of Investment Management Services Agreement
between IDS Global Series, Inc., on behalf of IDS
Global Balanced Fund and American Express Financial
Corporation, dated November 13, 1996.

Exhibit 6 (a): Copy of Distribution Agreement between IDS Global
Series, Inc., on behalf of IDS Global Bond Fund and
IDS Global Growth Fund and American Express
Financial Advisors Inc., dated March 20, 1995.

Exhibit 6 (b): Copy of Distribution Agreement between IDS Global
Series, Inc., on behalf of IDS Emerging Markets
Fund, IDS Global Balanced Fund and IDS Innovations
Fund and American Express Financial Advisors Inc.,
dated November 13, 1996.

Exhibit 8(a): Copy of Custodian Agreement between between IDS
Global Series, Inc., on behalf of IDS Global Bond
Fund and IDS Global Growth Fund and American Express
Trust Company, dated March 20, 1995.

Exhibit 8(b): Copy of Custodian Agreement between between IDS
Global Series, Inc., on behalf of IDS Emerging
Markets Fund, IDS Global Balanced Fund and IDS
Innovations Fund and American Express Trust Company,
dated November 13, 1996.

Exhibit 8(d): Copy of Addendum to the Custodian Agreement between
IDS Emerging Markets, IDS Innovations Fund, American
Express Trust Company and American Express Financial
Corporation dated November 13, 1996.

Exhibit 8(e): Copy of Addendum to the Custodian Agreement between
IDS Global Series, Inc. on behalf on IDS Global Bond
Fund and IDS Global Growth Fund, American Express
Trust Company and American Express Financial
Corporation dated May 13, 1996.

Exhibit 9(a): Copy of Transfer Agency Agreement between IDS Global
Series, Inc., on behalf of IDS Global Bond Fund and
IDS Global Growth Fund and American Express
Financial Corporation, dated March 20, 1995.

<PAGE>
PAGE 2
Exhibit 9(b): Copy of Transfer Agency Agreement between IDS Global
Series, Inc., on behalf of IDS Emerging Markets
Fund, IDS Global Balanced Fund and IDS Innovations
Fund and American Express Financial Corporation,
dated November 13, 1996.

Exhibit 9(d): Copy of Shareholder Service Agreement between IDS
Global Series, Inc., on behalf of IDS Global Bond
Fund and IDS Global Growth Fund and American Express
Financial Advisors Inc., dated March 20, 1995.

Exhibit 9(e): Copy of Shareholder Service Agreement between IDS
Global Series, Inc., on behalf of IDS Emerging
Markets Fund, IDS Global Balanced Fund and IDS
Innovations Fund and American Express Financial
Advisors Inc., dated November 13, 1996.

Exhibit 9(f): Copy of Administrative Services Agreement between
IDS Global Series, Inc., on behalf of IDS Global
Bond Fund and IDS Global Growth Fund and American
Express Financial Corporation, dated March 20, 1995.

Exhibit 9(g): Copy of Administrative Services Agreement between
IDS Global Series, Inc., on behalf of IDS Emerging
Markets Fund, IDS Global Balanced Fund and IDS
Innovations Fund and American Express Financial
Corporation, dated November 13, 1996.

Exhibit 9(h): Copy of Agreement and Declaration of Unitholders
between IDS Emerging Markets Fund Inc. and
Strategist Emerging Markets Fund dated November 13,
1996.

Exhibit 9(i): Copy of Agreement and Declaration of Unitholders
between IDS Innovations Fund Inc. and Strategist
World Technologies Fund dated November 13, 1996.

Exhibit 9(j): Copy of Agreement and Declaration of Unitholders
between IDS Global Series, Inc. on behalf of IDS
Global Bond Fund and Strategist World Fund, Inc. on
behalf of Strategist World Income Fund dated May 13,
1996.

Exhibit 9(k): Copy of Agreement and Declaration of Unitholders
between IDS Global Series, Inc. on behalf of IDS
Global Growth Fund and Strategist World Fund, Inc.
on behalf of Strategist World Growth Fund dated May
13, 1996.

Exhibit 11: Independent Auditors' Consent.

Exhibit 15(a): Copy of Plan and Agreement of Distribution between
IDS Global Series, Inc., on behalf of IDS Global
Bond Fund and IDS Global Growth Fund and American
Express Financial Advisors Inc., dated March 20,
1995.

<PAGE>
PAGE 3

Exhibit 15(b): Copy of Plan and Agreement of Distribution between
IDS Global Series, Inc., on behalf of IDS Emerging
Markets Fund, IDS Global Balanced Fund and IDS
Innovations Fund and American Express Financial
Advisors Inc., dated November 13, 1996.

Exhibit 17: Financial Data Schedule.

Exhibit 19(c): Trustees Power of Attorney dated April 11, 1996.

Exhibit 19(d): Officers' Power of Attorney dated April 11, 1996.

<PAGE>
PAGE 1
INVESTMENT MANAGEMENT SERVICES AGREEMENT

AGREEMENT made the 20th day of March, 1995, by and between IDS
Global Series Inc. (the "Corporation"), on behalf of its underlying
series funds, IDS Global Bond Fund and IDS Global Growth Fund
(individually a "Fund" and collectively the "Funds"), a Minnesota
corporation, and American Express Financial Corporation, a Delaware
corporation.

Part One: INVESTMENT MANAGEMENT AND OTHER SERVICES

(1) The Corporation hereby retains American Express Financial
Corporation, and American Express Financial Corporation hereby
agrees, for the period of this Agreement and under the terms and
conditions hereinafter set forth, to furnish the Corporation
continuously with suggested investment planning; to determine,
consistent with the Fund's investment objectives and policies,
which securities in American Express Financial Corporation's
discretion shall be purchased, held or sold and to execute or cause
the execution of purchase or sell orders; to prepare and make
available to the Funds all necessary research and statistical data
in connection therewith; to furnish all services of whatever nature
required in connection with the management of the Funds as provided
under this Agreement; and to pay such expenses as may be provided
for in Part Three; subject always to the direction and control of
the Board of Directors (the "Board"), the Executive Committee and
the authorized officers of the Corporation. American Express
Financial Corporation agrees to maintain an adequate organization
of competent persons to provide the services and to perform the
functions herein mentioned. American Express Financial Corporation
agrees to meet with any persons at such times as the Board deems
appropriate for the purpose of reviewing American Express Financial
Corporation's performance under this Agreement.

(2) American Express Financial Corporation agrees that the
investment planning and investment decisions will be in accordance
with general investment policies of the Funds as disclosed to
American Express Financial Corporation from time to time by the
Funds and as set forth in its prospectuses and registration
statements filed with the United States Securities and Exchange
Commission (the "SEC").

(3) American Express Financial Corporation agrees that it
will maintain all required records, memoranda, instructions or
authorizations relating to the acquisition or disposition of
securities for the Funds.

(4) The Corporation agrees that it will furnish to American
Express Financial Corporation any information that the latter may
reasonably request with respect to the services performed or to be
performed by American Express Financial Corporation under this
Agreement.

(5) American Express Financial Corporation is authorized to
select the brokers or dealers that will execute the purchases and
sales of portfolio securities for the Funds and is directed to use<PAGE>
PAGE 2
its best efforts to obtain the best available price and most
favorable execution, except as prescribed herein. Subject to prior
authorization by the Board of appropriate policies and procedures,
and subject to termination at any time by the Board, American
Express Financial Corporation may also be authorized to effect
individual securities transactions at commission rates in excess of
the minimum commission rates available, to the extent authorized by
law, if American Express Financial Corporation determines in good
faith that such amount of commission was reasonable in relation to
the value of the brokerage and research services provided by such
broker or dealer, viewed in terms of either that particular
transaction or American Express Financial Corporation's overall
responsibilities with respect to the Funds and other funds for
which it acts as investment adviser.

(6) It is understood and agreed that in furnishing the Funds
with the services as herein provided, neither American Express
Financial Corporation, nor any officer, director or agent thereof
shall be held liable to a Fund or its creditors or shareholders for
errors of judgment or for anything except willful misfeasance, bad
faith, or gross negligence in the performance of its duties, or
reckless disregard of its obligations and duties under the terms of
this Agreement. It is further understood and agreed that American
Express Financial Corporation may rely upon information furnished
to it reasonably believed to be accurate and reliable.

Part Two: COMPENSATION TO INVESTMENT MANAGER

(1) The Corporation agrees to pay to American Express
Financial Corporation, and American Express Financial Corporation
covenants and agrees to accept from each Fund in full payment for
the services furnished, a fee for each calendar day of each year
equal to the total of 1/365th (1/366th in each leap year) of the
amount computed as shown below. The computation shall be made for
each day on the basis of net assets as of the close of business of
the full business day two (2) business days prior to the day for
which the computation is being made. In the case of the suspension
of the computation of net asset value, the asset charge for each
day during such suspension shall be computed as of the close of
business on the last full business day on which the net assets were
computed. Net assets as of the close of a full business day shall
include all transactions in shares of each Fund recorded on the
books of the Fund for that day.
<PAGE>
PAGE 3
The asset charge shall be based on the net assets of the Fund as
set forth in the following table.
<TABLE><CAPTION>
Asset Charge

Assets
(Billions) Annual Rate At Each Asset Level

Global Bond Global Growth
<S> <C> <C>
First $0.25 0.770% First $0.25 0.800%
Next $0.25 0.745 Next $0.25 0.775
Next $0.25 0.720 Next $0.25 0.750
Next $0.25 0.695 Next $0.25 0.725
Over $1 0.670 Next $1 0.700
Over $2 0.675
</TABLE>
(2) The fee shall be paid on a monthly basis and, in the
event of the termination of this Agreement, the fee accrued shall
be prorated on the basis of the number of days that this Agreement
is in effect during the month with respect to which such payment is
made.

(3) The fee provided for hereunder shall be paid in cash by
the Funds to American Express Financial Corporation within five
business days after the last day of each month.

Part Three: ALLOCATION OF EXPENSES

(1) The Corporation agrees to pay:

(a) Fees payable to American Express Financial Corporation
for its services under the terms of this Agreement.

(b) Taxes.

(d) Custodian fees and charges.

(e) Fees and charges of its independent certified public
accountants for services the Funds request.

(f) Premium on the bond required by Rule 17g-1 under the
Investment Company Act of 1940.

(g) Fees and expenses of attorneys (i) it employs in matters
not involving the assertion of a claim by a third party against the
Corporation, its directors and officers, (ii) it employs in
conjunction with a claim asserted by the Board against American
Express Financial Corporation, except that American Express
Financial Corporation shall reimburse the Corporation for such fees
and expenses if it is ultimately determined by a court of competent
jurisdiction, or American Express Financial Corporation agrees,
that it is liable in whole or in part to the Corporation, and
(iii) it employs to assert a claim against a third party.

<PAGE>
PAGE 4
(h) Fees paid for the qualification and registration for
public sale of the securities of the Funds under the laws of the
United States and of the several states in which such securities
shall be offered for sale.

(i) Fees of consultants employed by the Funds.

(j) Directors, officers and employees expenses which shall
include fees, salaries, memberships, dues, travel, seminars,
pension, profit sharing, and all other benefits paid to or provided
for directors, officers and employees, directors and officers
liability insurance, errors and omissions liability insurance,
worker's compensation insurance and other expenses applicable to
the directors, officers and employees, except the Corporation will
not pay any fees or expenses of any person who is an officer or
employee of American Express Financial Corporation or its
affiliates.

(k) Filing fees and charges incurred by the Corporation in
connection with filing any amendment to its articles of
incorporation, or incurred in filing any other document with the
State of Minnesota or its political subdivisions.

(l) Organizational expenses of the Corporation.

(m) Expenses incurred in connection with lending portfolio
securities of the Funds.

(n) Expenses properly payable by the Funds, approved by the
Board.

(2) American Express Financial Corporation agrees to pay all
expenses associated with the services it provides under the terms
of this Agreement. Further, American Express Financial Corporation
agrees that if, at the end of any month, the expenses of a Fund
under this Agreement and any other agreement between the Fund and
American Express Financial Corporation, but excluding those
expenses set forth in (1)(b) and (1)(c) of this Part Three, exceed
the most restrictive applicable state expenses limitation, the Fund
shall not pay those expenses set forth in (1)(a) and (d) through
(n) of this Part Three to the extent necessary to keep the Fund's
expenses from exceeding the limitation, it being understood that
American Express Financial Corporation will assume all unpaid
expenses and bill the Fund for them in subsequent months but in no
event can the accumulation of unpaid expenses or billing be carried
past the end of the Fund's fiscal year.

Part Four: MISCELLANEOUS

(1) American Express Financial Corporation shall be deemed to
be an independent contractor and, except as expressly provided or
authorized in this Agreement, shall have no authority to act for or
represent the Fund.

(2) A "full business day" shall be as defined in the By-laws.

<PAGE>
PAGE 5
(3) Each Fund recognizes that American Express Financial
Corporation now renders and may continue to render investment
advice and other services to other investment companies and persons
which may or may not have investment policies and investments
similar to those of the Funds and that American Express Financial
Corporation manages its own investments and/or those of its
subsidiaries. American Express Financial Corporation shall be free
to render such investment advice and other services and each Fund
hereby consents thereto.

(4) Neither this Agreement nor any transaction had pursuant
hereto shall be invalidated or in any way affected by the fact that
directors, officers, agents and/or shareholders of the Funds are or
may be interested in American Express Financial Corporation or any
successor or assignee thereof, as directors, officers, stockholders
or otherwise; that directors, officers, stockholders or agents of
American Express Financial Corporation are or may be interested in
the Funds as directors, officers, shareholders, or otherwise; or
that American Express Financial Corporation or any successor or
assignee, is or may be interested in the Funds as shareholder or
otherwise, provided, however, that neither American Express
Financial Corporation, nor any officer, director or employee
thereof or of the Funds, shall sell to or buy from the Funds any
property or security other than shares issued by the Funds, except
in accordance with applicable regulations or orders of the SEC.

(5) Any notice under this Agreement shall be given in
writing, addressed, and delivered, or mailed postpaid, to the party
to this Agreement entitled to receive such, at such party's
principal place of business in Minneapolis, Minnesota, or to such
other address as either party may designate in writing mailed to
the other.

(6) American Express Financial Corporation agrees that no
officer, director or employee of American Express Financial
Corporation will deal for or on behalf of the Funds with himself as
principal or agent, or with any corporation or partnership in which
he may have a financial interest, except that this shall not
prohibit:

(a) Officers, directors or employees of American Express
Financial Corporation from having a financial interest in the Funds
or in American Express Financial Corporation.

(b) The purchase of securities for the Funds, or the sale of
securities owned by the Funds, through a security broker or dealer,
one or more of whose partners, officers, directors or employees is
an officer, director or employee of American Express Financial
Corporation, provided such transactions are handled in the capacity
of broker only and provided commissions charged do not exceed
customary brokerage charges for such services.

(c) Transactions with the Funds by a broker-dealer affiliate
of American Express Financial Corporation as may be allowed by
rule or order of the SEC, and if made pursuant to procedures
adopted by the Board.

<PAGE>
PAGE 6
(7) American Express Financial Corporation agrees that,
except as herein otherwise expressly provided or as may be
permitted consistent with the use of a broker-dealer affiliate of
American Express Financial Corporation under applicable provisions
of the federal securities laws, neither it nor any of its officers,
directors or employees shall at any time during the period of this
Agreement, make, accept or receive, directly or indirectly, any
fees, profits or emoluments of any character in connection with the
purchase or sale of securities (except shares issued by the Funds)
or other assets by or for the Funds.

Part Five: RENEWAL AND TERMINATION

(1) This Agreement shall continue in effect until March 19,
1997, or until a new agreement is approved by a vote of the
majority of the outstanding shares of each Fund and by vote of the
Fund's Board, including the vote required by (b) of this paragraph,
and if no new agreement is so approved, this Agreement shall
continue from year to year thereafter unless and until terminated
by either party as hereinafter provided, except that such
continuance shall be specifically approved at least annually (a) by
the Board or by a vote of the majority of the outstanding shares of
the Funds and (b) by the vote of a majority of the Directors who
are not parties to this Agreement or interested persons of any such
party, cast in person at a meeting called for the purpose of voting
on such approval. As used in this paragraph, the term "interested
person" shall have the same meaning as set forth in the Investment
Company Act of 1940, as amended (the "1940 Act").

(2) This Agreement may be terminated by either a Fund or
American Express Financial Corporation at any time by giving the
other party 60 days' written notice of such intention to terminate,
provided that any termination shall be made without the payment of
any penalty, and provided further that termination may be effected
either by the Board or by a vote of the majority of the outstanding
voting shares of the Fund. The vote of the majority of the
outstanding voting shares of a Fund for the purpose of this Part
Five shall be the vote at a shareholders' regular meeting, or a
special meeting duly called for the purpose, of 67% or more of the
Fund's shares present at such meeting if the holders of more than
50% of the outstanding voting shares are present or represented by
proxy, or more than 50% of the outstanding voting shares of the
Fund, whichever is less.

(3) This Agreement shall terminate in the event of its
assignment, the term "assignment" for this purpose having the same
meaning as set forth in the 1940 Act.

<PAGE>
PAGE 7
IN WITNESS THEREOF, the parties hereto have executed the
foregoing Agreement as of the day and year first above written.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund
IDS Global Growth Fund

By /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL CORPORATION

By /s/ Janis E. Miller
Vice President

<PAGE>
PAGE 1
INVESTMENT MANAGEMENT SERVICES AGREEMENT

AGREEMENT made the 13th of November, 1996, by and between IDS
Global Series, Inc. (the "Corporation"), a Minnesota corporation,
on behalf of its underlying series fund, IDS Global Balanced Fund
(the "Fund"), and American Express Financial Corporation, a
Delaware corporation.

Part One: INVESTMENT MANAGEMENT AND OTHER SERVICES

(1) The Corporation hereby retains American Express Financial
Corporation, and American Express Financial Corporation hereby
agrees, for the period of this agreement and under the terms and
conditions hereinafter set forth, to furnish the Fund continuously
with suggested investment planning; to determine, consistent with
the Fund's investment objectives and policies, which securities in
American Express Financial Corporation's discretion shall be
purchased, held or sold and to execute or cause the execution of
purchase or sell orders; to prepare and make available to the Fund
all necessary research and statistical data in connection
therewith; to furnish all services of whatever nature required in
connection with the management of the Fund as provided under this
agreement; and to pay such expenses as may be provided for in Part
Three; subject always to the direction and control of the Board of
Directors (the "Board"), the Executive Committee and the authorized
officers of the Corporation. American Express Financial
Corporation agrees to maintain an adequate organization of
competent persons to provide the services and to perform the
functions herein mentioned. American Express Financial Corporation
agrees to meet with any persons at such times as the Board deems
appropriate for the purpose of reviewing American Express Financial
Corporation's performance under this agreement.

(2) American Express Financial Corporation agrees that the
investment planning and investment decisions will be in accordance
with general investment policies of the Fund as disclosed to
American Express Financial Corporation from time to time by the
Fund and as set forth in the Fund's current Prospectus and
Registration Statement filed with the United States Securities and
Exchange Commission (the "SEC").

(3) American Express Financial Corporation agrees that it will
maintain all required records, memoranda, instructions or
authorizations relating to the acquisition or disposition of
securities for the Fund.

(5) American Express Financial Corporation is authorized to
select the brokers or dealers that will execute the purchases and
sales of portfolio securities for the Fund and is directed to use
its best efforts to obtain the best available price and most
favorable execution, except as prescribed herein. Subject to prior
authorization by the Board of appropriate policies and procedures, <PAGE>
PAGE 2
and subject to termination at any time by the Board, American
Express Financial Corporation may also be authorized to effect
individual securities transactions at commission rates in excess of
the minimum commission rates available, to the extent authorized by
law, if American Express Financial Corporation determines in good
faith that such amount of commission was reasonable in relation to
the value of the brokerage and research services provided by such
broker or dealer, viewed in terms of either that particular
transaction or American Express Financial Corporation's overall
responsibilities with respect to the Fund and other funds for which
it acts as investment adviser.

(6) It is understood and agreed that in furnishing the Fund
with the services as herein provided, neither American Express
Financial Corporation, nor any officer, director or agent thereof
shall be held liable to the Corporation (and/or the Fund) or its
creditors or shareholders for errors of judgment or for anything
except willful misfeasance, bad faith, or gross negligence in the
performance of its duties, or reckless disregard of its obligations
and duties under the terms of this agreement. It is further
understood and agreed that American Express Financial Corporation
may rely upon information furnished to it reasonably believed to be
accurate and reliable.

Part Two: COMPENSATION TO INVESTMENT MANAGER

(1) The Corporation, on behalf of the Fund, agrees to pay to
American Express Financial Corporation, and American Express
Financial Corporation covenants and agrees to accept from the
Corporation in full payment for the services furnished, a fee for
each calendar day of each year equal to the total of 1/365th
(1/366th in each leap year) of the amount computed as shown below.
The computation shall be made for each day on the basis of net
assets as of the close of business of the full business day two
(2) business days prior to the day for which the computation is
being made. In the case of the suspension of the computation of
net asset value, the asset charge for each day during such
suspension shall be computed as of the close of business on the
last full business day on which the net assets were computed. Net
assets as of the close of a full business day shall include all
transactions in shares of the Fund recorded on the books of the
Fund for that day.

The asset charge shall be based on the net assets of the Fund as
set forth in the following table:

Asset Charge

Assets Annual Rate At
(Billions) Each Asset Level
First $0.25 0.790%
Next 0.25 0.765
Next 0.25 0.740
Next 0.25 0.715
Next 1.00 0.690
Over 2.00 0.665
<PAGE>
PAGE 3
(2) The fee shall be paid on a monthly basis and, in the event
of the termination of this agreement, the fee accrued shall be pro
rated on the basis of the number of days that this agreement is in
effect during the month with respect to which such payment is made.

(3) The fee provided for hereunder shall be paid in cash to
American Express Financial Corporation within five business days
after the last day of each month.

Part Three: ALLOCATION OF EXPENSES

(1) The Corporation, on behalf of the Fund, agrees to pay:

(a) Fees payable to American Express Financial Corporation for
its services under the terms of this agreement;

(b) Taxes;

(d) Custodian fees and charges;

(e) Fees and charges of its independent certified public
accountants for services the Corporation requests;

(f) Premium on the bond required by Rule 17g-1 under the
Investment Company Act of 1940;

(g) Fees and expenses of attorneys (i) it employs in matters
not involving the assertion of a claim by a third party against the
Corporation, its directors and officers, (ii) it employs in
conjunction with a claim asserted by the Board against American
Express Financial Corporation, except that American Express
Financial Corporation shall reimburse the Corporation for such fees
and expenses if it is ultimately determined by a court of competent
jurisdiction, or American Express Financial Corporation agrees,
that it is liable in whole or in part to the Corporation (and/or
the Fund), and (iii) it employs to assert a claim against a third
party;

(h) Fees paid for the qualification and registration for public
sale of the securities of the Fund under the laws of the United
States and of the several states in which such securities shall be
offered for sale;

(i) Fees of consultants employed by the Corporation;

(l) Organizational expenses of the Fund;

(m) Expenses incurred in connection with lending portfolio
securities of the Fund; and

(n) Expenses properly payable by the Corporation, approved by
the Board.

(2) American Express Financial Corporation agrees to pay all
expenses associated with the services it provides under the terms
of this agreement. Further, American Express Financial Corporation
agrees that if, at the end of any month, the expenses of the Fund
under this agreement and any other agreement between the Fund and
American Express Financial Corporation, but excluding those
expenses set forth in (1)(b) and (1)(c) of this Part Three, exceed
the most restrictive applicable state expenses limitation, the Fund
shall not pay those expenses set forth in (1)(a) and (d) through
(n) of this Part Three to the extent necessary to keep the Fund's
expenses from exceeding the limitation, it being understood that
American Express Financial Corporation will assume all unpaid
expenses and bill the Fund for them in subsequent months but in no
event can the accumulation of unpaid expenses or billing be carried
past the end of the Fund's fiscal year.

Until October 31, 1997, American Express Financial Corporation has
agreed to waive certain fees and to absorb certain fund expenses
under this agreement. If, at the end of any month, the fees and
expense of the Fund's Class A Common Stock, $0.01 par value per
share (the "Class A Shares") under this agreement and any other
agreement between the Fund and American Express Financial
Corporation exceed 1.50% the Fund shall not pay fees or expenses
under this agreement to the extent necessary to keep the expense
ratio from exceeding the limitation. In any month that fees and
expenses of Class A Shares exceed 1.50% all management fees and
expenses in excess of that limit will be returned to the Fund. Any
fee waiver or elimination of expenses will apply to each class on a
pro rata basis.

Part Four: MISCELLANEOUS

(1) American Express Financial Corporation shall be deemed to
be an independent contractor and, except as expressly provided or
authorized in this agreement, shall have no authority to act for or
represent the Corporation.

(2) A "full business day" shall be as defined in the By-laws of
the Corporation.

(3) The Corporation recognizes that American Express Financial
Corporation now renders and may continue to render investment
advice and other services to other investment companies and persons
which may or may not have investment policies and investments
similar to those of the Fund and that American Express Financial <PAGE>
PAGE 5
Corporation manages its own investments and/or those of its
subsidiaries. American Express Financial Corporation shall be free
to render such investment advice and other services and the
Corporation hereby consents thereto.

(4) Neither this agreement nor any transaction had pursuant
hereto shall be invalidated or in any way affected by the fact that
directors, officers, agents and/or shareholders of the Corporation
are or may be interested in American Express Financial Corporation
or any successor or assignee thereof, as directors, officers,
stockholders or otherwise; that directors, officers, stockholders
or agents of American Express Financial Corporation are or may be
interested in the Corporation as directors, officers, shareholders,
or otherwise; or that American Express Financial Corporation or any
successor or assignee, is or may be interested in the Corporation
as shareholder or otherwise, provided, however, that neither
American Express Financial Corporation, nor any officer, director
or employee thereof or of the Corporation, shall sell to or buy
from the Corporation any property or security other than shares
issued by the Corporation, except in accordance with applicable
regulations or orders of the SEC.

(5) Any notice under this agreement shall be given in writing,
addressed, and delivered, or mailed postpaid, to the party to this
agreement entitled to receive such, at such party's principal place
of business in Minneapolis, Minnesota, or to such other address as
either party may designate in writing mailed to the other.

(6) American Express Financial Corporation agrees that no
officer, director or employee of American Express Financial
Corporation will deal for or on behalf of the Fund with himself or
herself as principal or agent, or with any corporation or
partnership in which he or she may have a financial interest,
except that this shall not prohibit:

(a) Officers, directors or employees of American Express
Financial Corporation from having a financial interest in the Fund
or in American Express Financial Corporation;

(b) The purchase of securities for the Fund, or the sale of
securities owned by the Fund, through a security broker or dealer,
one or more of whose partners, officers, directors or employees is
an officer, director or employee of American Express Financial
Corporation, provided such transactions are handled in the capacity
of broker only and provided commissions charged do not exceed
customary brokerage charges for such services; or

(c) Transactions with the Fund by a broker-dealer affiliate of
American Express Financial Corporation as may be allowed by rule or
order of the SEC, and if made pursuant to procedures adopted by the
Board.

(7) American Express Financial Corporation agrees that, except
as herein otherwise expressly provided or as may be permitted
consistent with the use of a broker-dealer affiliate of American
Express Financial Corporation under applicable provisions of the
federal securities laws, neither it nor any of its officers,
directors or employees shall at any time during the period of this <PAGE>
PAGE 6
agreement, make, accept or receive, directly or indirectly, any
fees, profits or emoluments of any character in connection with the
purchase or sale of securities (except shares issued by the
Corporation) or other assets by or for the Fund.

Part Five: RENEWAL AND TERMINATION

(1) This agreement shall continue in effect until November 12,
1998, or until a new agreement is approved by a vote of the
majority of the outstanding shares of the Fund and by vote of the
Board, including the vote required by (b) of this paragraph, and if
no new agreement is so approved, this agreement shall continue from
year to year thereafter unless and until terminated by either party
as hereinafter provided, except that such continuance shall be
specifically approved at least annually (a) by the Board or by a
vote of the majority of the outstanding shares of the Fund and
(b) by the vote of a majority of the Directors who are not parties
to this agreement or interested persons of any such party, cast in
person at a meeting called for the purpose of voting on such
approval. As used in this paragraph, the term "interested person"
shall have the same meaning as set forth in the Investment Company
Act of 1940, as amended (the "1940 Act").

(2) This agreement may be terminated by either the Corporation
or American Express Financial Corporation at any time by giving the
other party 60 days' written notice of such intention to terminate,
provided that any termination shall be made without the payment of
any penalty, and provided further that termination may be effected
either by the Board or by a vote of the majority of the outstanding
voting shares of the Fund. The vote of the majority of the
outstanding voting shares of the Fund for the purpose of this Part
Five shall be the vote at a shareholders' regular meeting, or a
special meeting duly called for the purpose, of 67% or more of the
Fund's shares present at such meeting if the holders of more than
50% of the outstanding voting shares are present or represented by
proxy, or more than 50% of the outstanding voting shares of the
Fund, whichever is less.

(3) This agreement shall terminate in the event of its
assignment, the term "assignment" for this purpose having the same
meaning as set forth in the 1940 Act.

<PAGE>
PAGE 7
IN WITNESS THEREOF, the parties hereto have executed the
foregoing agreement as of the day and year first above written.

IDS GLOBAL SERIES, INC.
IDS Global Balanced Fund

By /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL CORPORATION

By /s/ Michael J. Hogan
Michael J. Hogan
Vice President

<PAGE>
PAGE 1
DISTRIBUTION AGREEMENT

Agreement made as of the 20th day of March, 1995, by and between
IDS Global Series Inc. (the "Corporation"), a Minnesota
corporation, for and on behalf of each class of its underlying
Funds, and American Express Financial Advisors Inc., a Delaware
corporation.

Part One: DISTRIBUTION OF SECURITIES

(1) The Corporation covenants and agrees that, during the term
of this agreement and any renewal or extension, American Express
Financial Advisors shall have the exclusive right to act as
principal underwriter for the Corporation and to offer for sale and
to distribute either directly or through any affiliate any and all
shares of each class of capital stock issued or to be issued by the
Corporation.

(2) American Express Financial Advisors hereby covenants and
agrees to act as the principal underwriter of each class of capital
shares issued and to be issued by the Corporation during the period
of this agreement and agrees during such period to offer for sale
such shares as long as such shares remain available for sale,
unless American Express Financial Advisors is unable or unwilling
to make such offer for sale or sales or solicitations therefor
legally because of any federal, state, provincial or governmental
law, rule or agency or for any financial reason.

(3) With respect to the offering for sale and sale of shares of
each class to be issued by the Corporation, it is mutually
understood and agreed that such shares are to be sold on the
following terms:

(a) All sales shall be made by means of an application, and
every application shall be subject to acceptance or rejection by
the Corporation at its principal place of business. Shares are to
be sold for cash, payable at the time the application and payment
for such shares are received at the principal place of business of
the Corporation.

(b) No shares shall be sold at less than the asset value
(computed in the manner provided by the currently effective
prospectus or Statement of Additional Information and the
Investment Company Act of 1940, and rules thereunder). The number
of shares or fractional shares to be acquired by each applicant
shall be determined by dividing the amount of each accepted
application by the public offering price of one share of the
capital stock of the appropriate class as of the close of business
on the day when the application, together with payment, is received
by the Corporation at its principal place of business. The
computation as to the number of shares and fractional shares shall
be carried to three decimal points of one share with the
computation being carried to the nearest 1/1000th of a share. If
the day of receipt of the application and payment is not a full
business day, then the asset value of the share for use in such
computation shall be determined as of the close of business on the
<PAGE>
PAGE 2
next succeeding full business day. In the event of a period of
emergency, the computation of the asset value for the purpose of
determining the number of shares or fractional shares to be
acquired by the applicant may be deferred until the close of
business on the first full business day following the termination
of the period of emergency. A period of emergency shall have the
definition given thereto in the Investment Company Act of 1940, and
rules thereunder.

(4) The Corporation agrees to make prompt and reasonable effort
to do any and all things necessary, in the opinion of American
Express Financial Advisors, to have and to keep the Corporation and
the shares properly registered or qualified in all appropriate
jurisdictions and, as to shares, in such amounts as American
Express Financial Advisors may from time to time designate in order
that the Corporation's shares may be offered or sold in such
jurisdictions.

(5) The Corporation agrees that it will furnish American Express
Financial Advisors with information with respect to the affairs and
accounts of the Corporation, and in such form, as American Express
Financial Advisors may from time to time reasonably require and
further agrees that American Express Financial Advisors, at all
reasonable times, shall be permitted to inspect the books and
records of the Corporation.

(6) American Express Financial Advisors or its agents may prepare
or cause to be prepared from time to time circulars, sales
literature, broadcast material, publicity data and other
advertising material to be used in the sales of shares issued by
the Corporation, including material which may be deemed to be a
prospectus under rules promulgated by the Securities and Exchange
Commission (each separate promotional piece is referred to as an
"Item of Soliciting Material"). At its option, American Express
Financial Advisors may submit any Item of Soliciting Material to
the Corporation for its prior approval. Unless a particular Item
of Soliciting Material is approved in writing by the Corporation
prior to its use, American Express Financial Advisors agrees to
indemnify the Corporation and its directors and officers against
any and all claims, demands, liabilities and expenses which the
Corporation or such persons may incur arising out of or based upon
the use of any Item of Soliciting Material. The term "expenses"
includes amounts paid in satisfaction of judgments or in
settlements. The foregoing right of indemnification shall be in
addition to any other rights to which the Corporation or any
director or officer may be entitled as a matter of law.
Notwithstanding the foregoing, such indemnification shall not be
deemed to abrogate or diminish in any way any right or claim
American Express Financial Advisors may have against the
Corporation or its officers or directors in connection with the
Corporation's registration statement, prospectus, Statement of
Additional Information or other information furnished by or caused
to be furnished by the Corporation.

(7) American Express Financial Advisors agrees to submit to the
Corporation each application for shares immediately after the
receipt of such application and payment therefor by American
Express Financial Advisors at its principal place or business.<PAGE>
PAGE 3
(8) American Express Financial Advisors agrees to cause to be
delivered to each person submitting an application a prospectus or
circular to be furnished by the Corporation in the form required by
the applicable federal laws or by the acts or statutes of any
applicable state, province or country.

(9) The Corporation shall have the right to extend to
shareholders of each class the right to use the proceeds of any
cash dividend paid by the Corporation to that shareholder to
purchase shares of the same class at the net asset value at the
close of business upon the day of purchase, to the extent set forth
in the currently effective prospectus or Statement of Additional
Information.

(10) Shares of each class issued by the Corporation may be
offered and sold at their asset value to the shareholders of the
same class of other Corporations in the IDS MUTUAL FUND GROUP who
wish to exchange their investments in shares of the other funds in
the IDS MUTUAL FUND GROUP to investments in shares of the Fund, to
the extent set forth in the currently effective prospectus or
Statement of Additional Information, such asset value to be
computed as of the close of business on the day of sale of such
shares of the Corporation.

(11) American Express Financial Advisors and the Corporation
agree to use their best efforts to conform with all applicable
state and federal laws and regulations relating to any rights or
obligations under the term of this agreement.

Part Two: ALLOCATION OF EXPENSES

Except as provided by any other agreements between the parties,
American Express Financial Advisors covenants and agrees that
during the period of this agreement it will pay or cause or be paid
all expenses incurred by American Express Financial Advisors, or
any of its affiliates, in the offering for sale or sale of each
class of the Corporation's shares.

Part Three: COMPENSATION

(1) It is covenanted and agreed that American Express Financial
Advisors shall be paid:

(i) for a class of shares imposing a front-end sales charge, by
the purchasers of Corporation shares in an amount equal to the
difference between the total amount received upon each sale of
shares issued by the Corporation and the asset value of such shares
at the time of such sale; and

(ii) for a class of shares imposing a deferred sales charge, by
owners of Corporation shares at the time the sales charge is
imposed in an amount equal to any deferred sales charge, as
described in the Corporation's prospectus.

Such sums as are received by the Corporation shall be received as
Agent for American Express Financial Advisors and shall be remitted
to American Express Financial Advisors daily as soon as practicable
after receipt.<PAGE>
PAGE 4
(2) The asset value of any share of each class of the Corporation
shall be determined in the manner provided by the classes currently
effective prospectus and Statement of Additional Information and
the Investment Company Act of 1940, and rules thereunder.

Part Four: MISCELLANEOUS

(1) American Express Financial Advisors shall be deemed to be an
independent contractor and, except as expressly provided or
authorized in this agreement, shall have no authority to act for or
represent the Corporation.

(2) American Express Financial Advisors shall be free to render
to others services similar to those rendered under this agreement.

(3) Neither this agreement nor any transaction had pursuant
hereto shall be invalidated or in any way affected by the fact that
directors, officers, agents and/or shareholders of the Corporation
are or may be interested in American Express Financial Advisors as
directors, officers, shareholders or otherwise; that directors,
officers, shareholders or agents of American Express Financial
Advisors are or may be interested in the Corporation as directors,
officers, shareholders or otherwise; or that American Express
Financial Advisors is or may be interested in the Corporation as
shareholder or otherwise, provided, however, that neither American
Express Financial Advisors nor any officer or director of American
Express Financial Advisors or any officers or directors of the
Corporation shall sell to or buy from the Corporation any property
or security other than a security issued by the Corporation, except
in accordance with a rule, regulation or order of the federal
Securities and Exchange Commission.

(4) For the purposes of this agreement, a "business day" shall
have the same meaning as is given to the term in the By-laws of the
Corporation.

(5) Any notice under this agreement shall be given in writing,
addressed and delivered, or mailed postpaid, to the parties to this
agreement at each company's principal place of business in
Minneapolis, Minnesota, or to such other address as either party
may designate in writing mailed to the other.

(6) American Express Financial Advisors agrees that no officer,
director or employee of American Express Financial Advisors will
deal for or on behalf of the Corporation with himself as principal
or agent, or with any corporation or partnership in which he may
have a financial interest, except that this shall not prohibit:

(a) Officers, directors and employees of American Express
Financial Advisors from having a financial interest in the
Corporation or in American Express Financial Advisors.

(b) The purchase of securities for the Corporation, or the sale
of securities owned by the Corporation, through a security broker
or dealer, one or more of whose partners, officers, directors or
employees is an officer, director or employee of American Express
Financial Advisors, provided such transactions are <PAGE>
PAGE 5
handled in the capacity of broker only and provided commissions
charged do not exceed customary brokerage charges for such
services.

(c) Transactions with the Corporation by a broker-dealer
affiliate of American Express Financial Advisors if allowed by rule
or order of the Securities and Exchange Commission and if made
pursuant to procedures adopted by the Corporation's Board of
Directors.

(7) American Express Financial Advisors agrees that, except as
otherwise provided in this agreement, or as may be permitted
consistent with the use of a broker-dealer affiliate of American
Express Financial Advisors under applicable provisions of the
federal securities laws, neither it nor any of its officers,
directors or employees shall at any time during the period of this
agreement make, accept or receive, directly or indirectly, any
fees, profits or emoluments of any character in connection with the
purchase or sale of securities (except securities issued by the
Corporation) or other assets by or for the Corporation.

Part Five: TERMINATION

(1) This agreement shall from year to year unless and until
terminated by American Express Financial Advisors or the
Corporation, except that such continuance shall be specifically
approved at least annually by a vote of a majority of the Board of
Directors who are not parties to this agreement or interested
persons of any such party, cast in person at a meeting called for
the purpose of voting on such approval, and by a majority of the
Board of Directors or by vote of a majority of the outstanding
voting securities of the Corporation. As used in this paragraph,
the term "interested person" shall have the meaning as set forth in
the Investment Company Act of 1940, as amended.

(2) This agreement may be terminated by American Express
Financial Advisors or the Corporation at any time by giving the
other party sixty (60) days written notice of such intention to
terminate.

(3) This agreement shall terminate in the event of its
assignment, the term "assignment" for this purpose having the same
meaning as set forth in the Investment Company Act of 1940, as
amended.

<PAGE>
PAGE 6
IN WITNESS WHEREOF, The parties hereto have executed the foregoing
agreement on the date and year first above written.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund
IDS Global Growth Fund

By /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL ADVISORS INC.

By /s/ Janis E. Miller
Vice President

<PAGE>
PAGE 1
DISTRIBUTION AGREEMENT

Agreement made as of the 13th of November, 1996, by and between IDS
Global Series, Inc. (the "Corporation"), a Minnesota corporation,
for and on behalf of its underlying series funds: IDS Emerging
Markets Fund, IDS Global Balanced Fund and IDS Innovations Fund
(individually a "Fund" and collectively the "Funds"); and American
Express Financial Advisors Inc., a Delaware corporation.

Part One: DISTRIBUTION OF SECURITIES

(1) The Corporation covenants and agrees that, during the term
of this agreement and any renewal or extension, American Express
Financial Advisors Inc. shall have the exclusive right to act as
principal underwriter for each Fund and to offer for sale and to
distribute either directly or through any affiliate any and all
shares of each class of common stock of the Funds.

(2) American Express Financial Advisors Inc. hereby covenants and
agrees to act as the principal underwriter of each class of common
stock of the Funds during the period of this agreement and agrees
during such period to offer for sale such shares as long as such
shares remain available for sale, unless American Express Financial
Advisors Inc. is unable or unwilling to make such offer for sale or
sales or solicitations therefor legally because of any federal,
state, provincial or governmental law, rule or agency or for any
financial reason.

(3) With respect to the offering for sale and sale of shares of
each class to be issued by the Funds, it is mutually understood and
agreed that such shares are to be sold on the following terms:

(b) No shares shall be sold at less than the asset value
(computed in the manner provided by the respective Fund's currently
effective Prospectus or Statement of Additional Information and the
Investment Company Act of 1940, and rules thereunder). The number
of shares or fractional shares to be acquired by each applicant
shall be determined by dividing the amount of each accepted
application by the public offering price of one share of the
capital stock of the appropriate class as of the close of business
on the day when the application, together with payment, is received
by the Corporation at its principal place of business. The
computation as to the number of shares and fractional shares shall
be carried to three decimal points of one share with the
computation being carried to the nearest 1/1000th of a share. If
the day of receipt of the application and payment is not a full
business day, then the asset value of the share for use in such
computation shall be determined as of the close of business on the
next succeeding full business day. In the event of a period of
emergency, the computation of the asset value for the purpose of
determining the number of shares or fractional shares to <PAGE>
PAGE 2
be acquired by the applicant may be deferred until the close of
business on the first full business day following the termination
of the period of emergency. A period of emergency shall have the
definition given thereto in the Investment Company Act of 1940, and
rules thereunder.

(4) The Corporation agrees to make prompt and reasonable effort
to do any and all things necessary, in the opinion of American
Express Financial Advisors Inc., to have and to keep the Funds and
their shares properly registered or qualified in all appropriate
jurisdictions and, as to shares, in such amounts as American
Express Financial Advisors Inc. may from time to time designate in
order that the Funds' shares may be offered or sold in such
jurisdictions.

(5) The Corporation agrees that it will furnish American Express
Financial Advisors Inc. with information with respect to the
affairs and accounts of the Funds, and in such form, as American
Express Financial Advisors Inc. may from time to time reasonably
require and further agrees that American Express Financial Advisors
Inc., at all reasonable times, shall be permitted to inspect the
books and records of the Funds.

(6) American Express Financial Advisors Inc. or its agents may
prepare or cause to be prepared from time to time circulars, sales
literature, broadcast material, publicity data and other
advertising material to be used in the sales of shares issued by
the Funds, including material which may be deemed to be a
prospectus under rules promulgated by the Securities and Exchange
Commission (each separate promotional piece is referred to as an
"Item of Soliciting Material"). At its option, American Express
Financial Advisors Inc. may submit any Item of Soliciting Material
to the Corporation for its prior approval. Unless a particular
Item of Soliciting Material is approved in writing by the
Corporation prior to its use, American Express Financial Advisors
Inc. agrees to indemnify the Corporation and its directors and
officers against any and all claims, demands, liabilities and
expenses which the Corporation or such persons may incur arising
out of or based upon the use of any Item of Soliciting Material.
The term "expenses" includes amounts paid in satisfaction of
judgments or in settlements. The foregoing right of
indemnification shall be in addition to any other rights to which
the Corporation or any director or officer may be entitled as a
matter of law. Notwithstanding the foregoing, such indemnification
shall not be deemed to abrogate or diminish in any way any right or
claim American Express Financial Advisors Inc. may have against the
Corporation or its officers or directors in connection with the
Funds' Registration Statement, Prospectus, Statement of Additional
Information or other information furnished by or caused to be
furnished by the Corporation.

(7) American Express Financial Advisors Inc. agrees to submit to
the Corporation each application for shares immediately after the
receipt of such application and payment therefor by American
Express Financial Advisors Inc. at its principal place or business.

<PAGE>
PAGE 3
(8) American Express Financial Advisors Inc. agrees to cause to
be delivered to each person submitting an application a current
prospectus or circular in the form required by the applicable
federal laws or by the acts or statutes of any applicable state,
province or country.

(9) The Funds shall have the right to extend to shareholders of
each class of common stock the right to use the proceeds, of any
cash dividend paid by the Corporation to that shareholder, to
purchase shares of the same class at the net asset value at the
close of business upon the day of purchase, to the extent set forth
in the respective Fund's currently effective Prospectus or
Statement of Additional Information.

(10) Shares of each class of common stock of the Funds may be
offered and sold at their asset value to the shareholders of the
same class of other funds in the IDS MUTUAL FUND GROUP who wish to
exchange their investments in shares of the other funds in the IDS
MUTUAL FUND GROUP to investments in shares of the Funds, to the
extent set forth in the respective Fund's currently effective
Prospectus or Statement of Additional Information, such asset value
to be computed as of the close of business on the day of sale of
such shares of the Funds.

(11) American Express Financial Advisors Inc. and the
Corporation agree to use their best efforts to conform with all
applicable state and federal laws and regulations relating to any
rights or obligations under the term of this agreement.

Part Two: ALLOCATION OF EXPENSES

Except as provided by any other agreements between the parties,
American Express Financial Advisors Inc. covenants and agrees that
during the period of this agreement it will pay or cause or be paid
all expenses incurred by American Express Financial Advisors Inc.,
or any of its affiliates, in the offering for sale or sale of each
class of the Funds' shares that is subject to the terms of this
agreement.

Part Three: COMPENSATION

(1) It is covenanted and agreed that American Express Financial
Advisors Inc. shall be paid:

(i) for a class of shares imposing a front-end sales charge, by
the purchasers of shares in an amount equal to the difference
between the total amount received upon each sale of shares issued
by the Funds and the asset value of such shares at the time of such
sale; and

(ii) for a class of shares imposing a deferred sales charge, by
owners of shares at the time the sales charge is imposed in an
amount equal to any deferred sales charge, as described in the
respective Fund's Prospectus.

Such sums as are received by the Corporation shall be received as
Agent for American Express Financial Advisors Inc. and shall be
remitted to American Express Financial Advisors Inc. daily as soon
as practicable after receipt.<PAGE>
PAGE 4
(2) The asset value of any share of each class of the Funds shall
be determined in the manner provided by the currently effective
Prospectus and Statement of Additional Information and the
Investment Company Act of 1940, and rules thereunder.

Part Four: MISCELLANEOUS

(1) American Express Financial Advisors Inc. shall be deemed to
be an independent contractor and, except as expressly provided or
authorized in this agreement, shall have no authority to act for or
represent the Corporation.

(2) American Express Financial Advisors Inc. shall be free to
render to others services similar to those rendered under this
agreement.

(3) Neither this agreement nor any transaction had pursuant
hereto shall be invalidated or in any way affected by the fact that
directors, officers, agents and/or shareholders of the Corporation
are or may be interested in American Express Financial Advisors
Inc. as directors, officers, shareholders or otherwise; that
directors, officers, shareholders or agents of American Express
Financial Advisors Inc. are or may be interested in the Corporation
as directors, officers, shareholders or otherwise; or that American
Express Financial Advisors Inc. is or may be interested in the
Corporation as shareholder or otherwise, provided, however, that
neither American Express Financial Advisors Inc. nor any officer or
director of American Express Financial Advisors Inc. or any
officers or directors of the Corporation shall sell to or buy from
the Corporation any property or security other than a security
issued by the Corporation, except in accordance with a rule,
regulation or order of the United States Securities and Exchange
Commission.

(4) For the purposes of this agreement, a "business day" shall
have the same meaning as is given to the term in the By-laws of the
Corporation.

(6) American Express Financial Advisors Inc. agrees that no
officer, director or employee of American Express Financial
Advisors Inc. will deal for or on behalf of the Corporation with
himself or herself as principal or agent, or with any corporation
or partnership in which he or she may have a financial interest,
except that this shall not prohibit:

(a) Officers, directors and employees of American Express
Financial Advisors Inc. from having a financial interest in the
Corporation or in American Express Financial Advisors Inc.;

(b) The purchase of securities for the Funds, or the sale of
securities owned by the Funds, through a security broker or dealer,
one or more of whose partners, officers, directors or employees is <PAGE>
PAGE 5
an officer, director or employee of American Express Financial
Advisors Inc., provided such transactions are handled in the
capacity of broker only and provided commissions charged do not
exceed customary brokerage charges for such services; or

(c) Transactions with the Funds by a broker-dealer affiliate of
American Express Financial Advisors Inc. if allowed by rule or
order of the Securities and Exchange Commission and if made
pursuant to procedures adopted by the Board of Directors;

(7) American Express Financial Advisors Inc. agrees that, except
as otherwise provided in this agreement, or as may be permitted
consistent with the use of a broker-dealer affiliate of American
Express Financial Advisors Inc. under applicable provisions of the
federal securities laws, neither it nor any of its officers,
directors or employees shall at any time during the period of this
agreement make, accept or receive, directly or indirectly, any
fees, profits or emoluments of any character in connection with the
purchase or sale of securities (except securities issued by the
Funds) or other assets by or for the Funds.

Part Five: TERMINATION

(1) This agreement shall continue from year to year unless and
until terminated by American Express Financial Advisors Inc. or the
Corporation, except that such continuance shall be specifically
approved at least annually by a vote of a majority of the Board of
Directors who are not parties to this agreement or interested
persons of any such party, cast in person at a meeting called for
the purpose of voting on such approval, and by a majority of the
Board of Directors or by vote of a majority of the outstanding
voting securities of the Corporation. As used in this paragraph,
the term "interested person" shall have the meaning as set forth in
the Investment Company Act of 1940, as amended.

(2) This agreement may be terminated by American Express
Financial Advisors Inc. or the Corporation at any time by giving
the other party sixty (60) days written notice of such intention to
terminate.

(3) This agreement shall terminate in the event of its
assignment, the term "assignment" for this purpose having the same
meaning as set forth in the Investment Company Act of 1940, as
amended.

<PAGE>
PAGE 6
IN WITNESS WHEREOF, The parties hereto have executed the foregoing
agreement on the date and year first above written.

IDS GLOBAL SERIES, INC.
IDS Emerging Markets Fund
IDS Global Balanced Fund
IDS Innovations Fund

By /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL ADVISORS INC.

By /s/ Michael J. Hogan
Michael J. Hogan
Vice President

<PAGE>
PAGE 1
CUSTODIAN AGREEMENT

THIS CUSTODIAN AGREEMENT dated March 20, 1995, between IDS Global
Series, Inc., a Minnesota Corporation (the "Corporation"), on
behalf of its underlying series Funds, and American Express Trust
Company, a corporation organized under the laws of the State of
Minnesota with its principal place of business at Minneapolis,
Minnesota (the "Custodian").

WHEREAS, the Corporation desires that its securities and cash be
hereafter held and administered by Custodian pursuant to the terms
of this Agreement.

NOW, THEREFORE, in consideration of the mutual agreements herein
made, the Corporation and the Custodian agree as follows:

Section 1. Definitions

The word "securities" as used herein shall be construed to include,
without being limited to, shares, stocks, treasury stocks,
including any stocks of this Corporation, notes, bonds, debentures,
evidences of indebtedness, options to buy or sell stocks or stock
indexes, certificates of interest or participation in any profit-
sharing agreements, collateral trust certificates, preorganization
certificates or subscriptions, transferable shares, investment
contracts, voting trust certificates, certificates of deposit for a
security, fractional or undivided interests in oil, gas or other
mineral rights, or any certificates of interest or participation
in, temporary or interim certificates for, receipts for, guarantees
of, or warrants or rights to subscribe to or purchase any of the
foregoing, acceptances and other obligations and any evidence of
any right or interest in or to any cash, property or assets and any
interest or instrument commonly known as a security. In addition,
for the purpose of this Custodian Agreement, the word "securities"
also shall include other instruments in which the Corporation may
invest including currency forward contracts and commodities such as
interest rate or index futures contracts, margin deposits on such
contracts or options on such contracts.

The words "custodian order" shall mean a request or direction,
including a computer printout, directed to the Custodian and signed
in the name of the Corporation by any two individuals designated in
the current certified list referred to in Section 2.

The word "facsimile" shall mean an exact copy or likeness which is
electronically transmitted for instant reproduction.

Section 2. Names, Titles and Signatures of Authorized Persons

The Corporation will certify to the Custodian the names and
signatures of its present officers and other designated persons
authorized on behalf of the Corporation to direct the Custodian by
custodian order as herein before defined. The Corporation agrees
that whenever any change occurs in this list it will file with the
Custodian a copy of a resolution certified by the Secretary or an <PAGE>
PAGE 2
Assistant Secretary of the Corporation as having been duly adopted
by the Board of Directors or the Executive Committee of the Board
of Directors of the Corporation designating those persons currently
authorized on behalf of the Corporation to direct the Custodian by
custodian order, as herein before defined, and upon such filing (to
be accompanied by the filing of specimen signatures of the
designated persons) the persons so designated in said resolution
shall constitute the current certified list. The Custodian is
authorized to rely and act upon the names and signatures of the
individuals as they appear in the most recent certified list from
the Corporation which has been delivered to the Custodian as herein
above provided.

Section 3. Use of Subcustodians

The Custodian may make arrangements, where appropriate, with other
banks having not less than two million dollars aggregate capital,
surplus and undivided profits for the custody of securities. Any
such bank selected by the Custodian to act as subcustodian shall be
deemed to be the agent of the Custodian.

The Custodian also may enter into arrangements for the custody of
securities entrusted to its care through foreign branches of United
States banks; through foreign banks, banking institutions or trust
companies; through foreign subsidiaries of United States banks or
bank holding companies, or through foreign securities depositories
or clearing agencies (hereinafter also called, collectively, the
"Foreign Subcustodian" or indirectly through an agent, established
under the first paragraph of this section, if and to the extent
permitted by Section 17(f) of the Investment Company Act of 1940
and the rules promulgated by the Securities and Exchange Commission
thereunder, any order issued by the Securities and Exchange
Commission, or any "no-action" letter received from the staff of
the Securities and Exchange Commission. To the extent the existing
provisions of the Custodian Agreement are consistent with the
requirements of such Section, rules, order or no-action letter,
they shall apply to all such foreign custodianships. To the extent
such provisions are inconsistent with or additional requirements
are established by such Section, rules, order or no-action letter,
the requirements of such Section, rules, order or no-action letter
will prevail and the parties will adhere to such requirements;
provided, however, in the absence of notification from the
Corporation of any changes or additions to such requirements, the
Custodian shall have no duty or responsibility to inquire as to any
such changes or additions.

Section 4. Receipt and Disbursement of Money

(1) The Custodian shall open and maintain a separate account or
accounts in the name of the Corporation or cause its agent to open
and maintain such account or accounts subject only to checks,
drafts or directives by the Custodian pursuant to the terms of this
Agreement. The Custodian or its agent shall hold in such account
or accounts, subject to the provisions hereof, all cash received by
<PAGE>
PAGE 3
it from or for the account of the Corporation. The Custodian or
its agent shall make payments of cash to or for the account of the
Corporation from such cash only:

(a) for the purchase of securities for the portfolio of the
Corporation upon the receipt of such securities by the
Custodian or its agent unless otherwise instructed on
behalf of the Corporation;

(b) for the purchase or redemption of shares of capital stock
of the Corporation;

(c) for the payment of interest, dividends, taxes, management
fees, or operating expenses (including, without limitation
thereto, fees for legal, accounting and auditing services);

(d) for payment of distribution fees, commissions, or
redemption fees, if any;

(e) for payments in connection with the conversion, exchange or
surrender of securities owned or subscribed to by the
Corporation held by or to be delivered to the Custodian;

(f) for payments in connection with the return of securities
loaned by the Corporation upon receipt of such securities
or the reduction of collateral upon receipt of proper
notice;

(g) for payments for other proper corporate purposes;

(h) or upon the termination of this Agreement.

Before making any such payment for the purposes permitted under the
terms of items (a), (b), (c), (d), (e), (f) or (g) of paragraph (1)
of this section, the Custodian shall receive and may rely upon a
custodian order directing such payment and stating that the payment
is for such a purpose permitted under these items (a), (b), (c),
(d), (e), (f) or (g) and that in respect to item (g), a copy of a
resolution of the Board of Directors or of the Executive Committee
of the Board of Directors of the Corporation signed by an officer
of the Corporation and certified by its Secretary or an Assistant
Secretary, specifying the amount of such payment, setting forth the
purpose to be a proper corporate purpose, and naming the person or
persons to whom such payment is made. Notwithstanding the above,
for the purposes permitted under items (a) or (f) of paragraph (1)
of this section, the Custodian may rely upon a facsimile order.

(2) The Custodian is hereby appointed the attorney-in-fact of the
Corporation to endorse and collect all checks, drafts or other
orders for the payment of money received by the Custodian for the
account of the Corporation and drawn on or to the order of the
Corporation and to deposit same to the account of the Corporation
pursuant to this Agreement.

<PAGE>
PAGE 4
Section 5. Receipt of Securities

Except as permitted by the second paragraph of this section, the
Custodian or its agent shall hold in a separate account or
accounts, and physically segregated at all times from those of any
other persons, firms or corporations, pursuant to the provisions
hereof, all securities received by it for the account of the
Corporation. The Custodian shall record and maintain a record of
all certificate numbers. Securities so received shall be held in
the name of the Corporation, in the name of an exclusive nominee
duly appointed by the Custodian or in bearer form, as appropriate.

Subject to such rules, regulations or guidelines as the Securities
and Exchange Commission may adopt, the Custodian may deposit all or
any part of the securities owned by the Corporation in a securities
depository which includes any system for the central handling of
securities established by a national securities exchange or a
national securities association registered with the Securities and
Exchange Commission under the Securities Exchange Act of 1934, or
such other person as may be permitted by the Commission, pursuant
to which system all securities of any particular class or series of
any issuer deposited within the system are treated as fungible and
may be transferred or pledged by bookkeeping entry without physical
delivery of such securities.

All securities are to be held or disposed of by the Custodian for,
and subject at all times to the instructions of, the Corporation
pursuant to the terms of this Agreement. The Custodian shall have
no power or authority to assign, hypothecate, pledge or otherwise
dispose of any such securities, except pursuant to the directive of
the Corporation and only for the account of the Corporation as set
forth in Section 6 of this Agreement.

Section 6. Transfer Exchange, Delivery, etc. of Securities

The Custodian shall have sole power to release or deliver any
securities of the Corporation held by it pursuant to this
Agreement. The Custodian agrees to transfer, exchange or deliver
securities held by it or its agent hereunder only:

(a) for sales of such securities for the account of the
Corporation, upon receipt of payment therefor;

(b) when such securities are called, redeemed, retired or
otherwise become payable;

(c) for examination upon the sale of any such securities in
accordance with "street delivery" custom which would include
delivery against interim receipts or other proper delivery
receipts;

(d) in exchange for or upon conversion into other securities
alone or other securities and cash whether pursuant to any
plan of

(e) merger, consolidation, reorganization, recapitalization or
readjustment, or otherwise;<PAGE>
PAGE 5
(f) for the purpose of exchanging interim receipts or temporary
certificates for permanent certificates;

(g) upon conversion of such securities pursuant to their terms
into other securities;

(h) upon exercise of subscription, purchase or other similar
rights represented by such securities; for loans of such
securities by the Corporation upon receipt of collateral; or

(i) for other proper corporate purposes.

As to any deliveries made by the Custodian pursuant to items (a),
(b), (c), (d), (e), (f), (g) and (h), securities or cash received
in exchange therefore shall be delivered to the Custodian, its
agent, or to a securities depository. Before making any such
transfer, exchange or delivery, the Custodian shall receive a
custodian order or a facsimile from the Corporation requesting such
transfer, exchange or delivery and stating that it is for a purpose
permitted under Section 6 (whenever a facsimile is utilized, the
Corporation will also deliver an original signed custodian order)
and, in respect to item (i), a copy of a resolution of the Board of
Directors or of the Executive Committee of the Board of Directors
of the Corporation signed by an officer of the Corporation and
certified by its Secretary or an Assistant Secretary, specifying
the securities, setting forth the purpose for which such payment,
transfer, exchange or delivery is to be made, declaring such
purpose to be a proper corporate purpose, and naming the person or
persons to whom such transfer, exchange or delivery of such
securities shall be made.

Section 7. Custodian's Acts Without Instructions

Unless and until the Custodian receives a contrary custodian order
from the Corporation, the Custodian shall or shall cause its agent
to:

(a) present for payment all coupons and other income items held
by the Custodian or its agent for the account of the
Corporation which call for payment upon presentation and hold
all cash received by it upon such payment for the account of
the Corporation;

(b) present for payment all securities held by it or its agent
which mature or when called, redeemed, retired or otherwise
become payable;

(c) ascertain all stock dividends, rights and similar securities
to be issued with respect to any securities held by the
Custodian or its agent hereunder, and to collect and hold for
the account of the Corporation all such securities; and

(d) ascertain all interest and cash dividends to be paid to
security holders with respect to any securities held by the
Custodian or its agent, and to collect and hold such interest
and cash dividends for the account of the Corporation.
<PAGE>
PAGE 6
Section 8. Voting and Other Action

Neither the Custodian nor any nominee of the Custodian shall vote
any of the securities held hereunder by or for the account of the
Corporation. The Custodian shall promptly deliver to the
Corporation all notices, proxies and proxy soliciting materials
with relation to such securities, such proxies to be executed by
the registered holder of such securities (if registered otherwise
than in the name of the Corporation), but without indicating the
manner in which such proxies are to be voted.

Custodian shall transmit promptly to the Corporation all written
information (including, without limitation, pendency of calls and
maturities of securities and expirations of rights in connection
therewith) received by the Custodian from issuers of the securities
being held for the Corporation. With respect to tender or exchange
offers, the Custodian shall transmit promptly to the Corporation
all written information received by the Custodian from issuers of
the securities whose tender or exchange is sought and from the
party (or his agents) making the tender or exchange offer.

Section 9. Transfer Taxes

The Corporation shall pay or reimburse the Custodian for any
transfer taxes payable upon transfers of securities made hereunder,
including transfers resulting from the termination of this
Agreement. The Custodian shall execute such certificates in
connection with securities delivered to it under this Agreement as
may be required, under any applicable law or regulation, to exempt
from taxation any transfers and/or deliveries of any such
securities which may be entitled to such exemption.

Section 10. Custodian's Reports

The Custodian shall furnish the Corporation as of the close of
business each day a statement showing all transactions and entries
for the account of the Corporation. The books and records of the
Custodian pertaining to its actions as Custodian under this
Agreement and securities held hereunder by the Custodian shall be
open to inspection and audit by officers of the Corporation,
internal auditors employed by the Corporation's investment adviser,
and independent auditors employed by the Corporation. The
Custodian shall furnish the Corporation in such form as may
reasonably be requested by the Corporation a report, including a
list of the securities held by it in custody for the account of the
Corporation, identification of any subcustodian, and identification
of such securities held by such subcustodian, as of the close of
business of the last business day of each month, which shall be
certified by a duly authorized officer of the Custodian. It is
further understood that additional reports may from time to time be
requested by the Corporation. Should any report ever be filed with
any governmental authority pertaining to lost or stolen securities,
the Custodian will concurrently provide the Corporation with a copy
of that report.

<PAGE>
PAGE 7
The Custodian also shall furnish such reports on its systems of
internal accounting control as the Corporation may reasonably
request from time to time.

Section 11. Concerning Custodian

For its services hereunder the Custodian shall be paid such
compensation at such times as may from time to time be agreed on in
writing by the parties hereto in a Custodian Fee Agreement.

The Custodian shall not be liable for any action taken in good
faith upon any custodian order or facsimile herein described or
certified copy of any resolution of the Board of Directors or of
the Executive Committee of the Board of Directors of the
Corporation, and may rely on the genuineness of any such document
which it may in good faith believe to have been validly executed.

The Corporation agrees to indemnify and hold harmless Custodian and
its nominee from all taxes, charges, expenses, assessments, claims
and liabilities (including counsel fees) incurred or assessed
against it or its nominee in connection with the performance of
this Agreement, except such as may arise from the Custodian's or
its nominee's own negligent action, negligent failure to act or
willful misconduct. Custodian is authorized to charge any account
of the Corporation for such items. In the event of any advance of
cash for any purpose made by Custodian resulting from orders or
instructions of the Corporation, or in the event that Custodian or
its nominee shall incur or be assessed any taxes, charges,
expenses, assessments, claims or liabilities in connection with the
performance of this Agreement, except such as may arise from its or
its nominee's own negligent action, negligent failure to act or
willful misconduct, any property at any time held for the account
of the Corporation shall be security therefor.

The Custodian shall maintain a standard of care equivalent to that
which would be required of a bailee for hire and shall not be
liable for any loss or damage to the Corporation resulting from
participation in a securities depository unless such loss or damage
arises by reason of any negligence, misfeasance, or willful
misconduct of officers or employees of the Custodian, or from its
failure to enforce effectively such rights as it may have against
any securities depository or from use of an agent, unless such loss
or damage arises by reason of any negligence, misfeasance, or
willful misconduct of officers or employees of the Custodian, or
from its failure to enforce effectively such rights as it may have
against any agent.

Section 12. Termination and Amendment of Agreement

The Corporation and the Custodian mutually may agree from time to
time in writing to amend, to add to, or to delete from any
provision of this Agreement.

<PAGE>
PAGE 8
The Custodian may terminate this Agreement by giving the
Corporation ninety days' written notice of such termination by
registered mail addressed to the Corporation at its principal place
of business.

The Corporation may terminate this Agreement at any time by written
notice thereof delivered, together with a copy of the resolution of
the Board of Directors authorizing such termination and certified
by the Secretary of the Corporation, by registered mail to the
Custodian.

Upon such termination of this Agreement, assets of the Corporation
held by the Custodian shall be delivered by the Custodian to a
successor custodian, if one has been appointed by the Corporation,
upon receipt by the Custodian of a copy of the resolution of the
Board of Directors of the Corporation certified by the Secretary,
showing appointment of the successor custodian, and provided that
such successor custodian is a bank or trust company, organized
under the laws of the United States or of any State of the United
States, having not less than two million dollars aggregate capital,
surplus and undivided profits. Upon the termination of this
Agreement as a part of the transfer of assets, either to a
successor custodian or otherwise, the Custodian will deliver
securities held by it hereunder, when so authorized and directed by
resolution of the Board of Directors of the Corporation, to a duly
appointed agent of the successor custodian or to the appropriate
transfer agents for transfer of registration and delivery as
directed. Delivery of assets on termination of this Agreement
shall be effected in a reasonable, expeditious and orderly manner;
and in order to accomplish an orderly transition from the Custodian
to the successor custodian, the Custodian shall continue to act as
such under this Agreement as to assets in its possession or
control. Termination as to each security shall become effective
upon delivery to the successor custodian, its agent, or to a
transfer agent for a specific security for the account of the
successor custodian, and such delivery shall constitute effective
delivery by the Custodian to the successor under this Agreement.

In addition to the means of termination herein before authorized,
this Agreement may be terminated at any time by the vote of a
majority of the outstanding shares of the Corporation and after
written notice of such action to the Custodian.

Section 13. General

Nothing expressed or mentioned in or to be implied from any
provision of this Agreement is intended to, or shall be construed
to give any person or corporation other than the parties hereto,
any legal or equitable right, remedy or claim under or in respect
of this Agreement, or any covenant, condition or provision herein
contained, this Agreement and all of the covenants, conditions and
provisions hereof being intended to be and being for the sole and
exclusive benefit of the parties hereto and their respective
successors and assigns.

<PAGE>
PAGE 9
This Agreement shall be governed by the laws of the State of
Minnesota.

This Agreement supersedes all prior agreements between the parties.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund
IDS Global Growth Fund

By: /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS TRUST COMPANY

By: /s/ Chandrakant A. Patel
Chandrakant A. Patel
Vice President

<PAGE>
PAGE 1
CUSTODIAN AGREEMENT

THIS CUSTODIAN AGREEMENT dated November 13, 1996, between IDS
Global Series, Inc., a Minnesota corporation, (the "Corporation"),
on behalf of its underlying series funds: IDS Emerging Markets
Fund, IDS Global Balanced Fund and IDS Innovations Fund
(individually a "Fund" and collectively the "Funds"); and American
Express Trust Company, a corporation organized under the laws of
the State of Minnesota with its principal place of business at
Minneapolis, Minnesota (the "Custodian").

WHEREAS, the Corporation desires that the Funds' securities and
cash be hereafter held and administered by Custodian pursuant to
the terms of this agreement.

NOW, THEREFORE, in consideration of the mutual agreements herein
made, the Corporation and the Custodian agree as follows:

Section 1. Definitions

The word "securities" as used herein shall be construed to include,
without being limited to, shares, stocks, treasury stocks,
including any stocks of this Corporation, notes, bonds, debentures,
evidences of indebtedness, options to buy or sell stocks or stock
indexes, certificates of interest or participation in any profit-
sharing agreements, collateral trust certificates, preorganization
certificates or subscriptions, transferable shares, investment
contracts, voting trust certificates, certificates of deposit for a
security, fractional or undivided interests in oil, gas or other
mineral rights, or any certificates of interest or participation
in, temporary or interim certificates for, receipts for, guarantees
of, or warrants or rights to subscribe to or purchase any of the
foregoing, acceptances and other obligations and any evidence of
any right or interest in or to any cash, property or assets and any
interest or instrument commonly known as a security. In addition,
for the purpose of this Custodian Agreement, the word "securities"
also shall include other instruments in which the Funds may invest
including currency forward contracts and commodities such as
interest rate or index futures contracts, margin deposits on such
contracts or options on such contracts.

The word "facsimile" shall mean an exact copy or likeness which is
electronically transmitted for instant reproduction.

Section 2. Names, Titles and Signatures of Authorized Persons

The Corporation will certify to the Custodian the names and
signatures of its present officers and other designated persons
authorized on behalf of the Corporation to direct the Custodian by
custodian order as defined herein. The Corporation agrees that
whenever any change occurs in this list it will file with the
Custodian a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Corporation as having been duly adopted <PAGE>
PAGE 2
by the Board of Directors or the Executive Committee of the Board
of Directors of the Corporation designating those persons currently
authorized on behalf of the Corporation to direct the Custodian by
custodian order and upon such filing (to be accompanied by the
filing of specimen signatures of the designated persons) the
persons so designated in said resolution shall constitute the
current certified list. The Custodian is authorized to rely and
act upon the names and signatures of the individuals as they appear
in the most recent certified list from the Corporation which has
been delivered to the Custodian as herein above provided.

Section 3. Use of Subcustodians

The Custodian may make arrangements, where appropriate, and as
approved by the Corporation, with other national banks having not
less than two million dollars aggregate capital, surplus and
undivided profits for the custody of securities. Any such bank
selected by the Custodian to act as subcustodian shall be deemed to
be the agent of the Custodian.

Section 4. Receipt and Disbursement of Money

(1) The Custodian shall open and maintain a separate account or
accounts in the name of each Fund or cause its agent to open and
maintain such account or accounts subject only to checks, drafts or
directives by the Custodian pursuant to the terms of this
agreement. The Custodian or its agent shall hold in such account
or accounts, subject to the provisions hereof, all cash received by
it from or for the account of each Fund. The Custodian or its
agent shall make payments of cash to or for the account of each
Fund from such cash only:

(a) for the purchase of securities for the respective Fund upon
the receipt of such securities by the Custodian or its agent;<PAGE>
PAGE 3

(b) for the purchase or redemption of the Funds' Common Stock;

(c) for the payment of interest, dividends, taxes, management
fees, or operating expenses (including, without limitation
thereto, fees for legal, accounting and auditing services);

(d) for payment of distribution fees, commissions or redemption
fees, if any;

(e) for payments in connection with the conversion, exchange or
surrender of securities owned or subscribed to by the
respective Fund held by or to be delivered to the Custodian;

(f) for payments in connection with the return of securities
loaned by the respective Fund upon receipt of such securities
or the reduction of collateral upon receipt of proper notice;

(g) for payments for other proper corporate purposes; or

(h) upon the termination of this agreement.

(2) The Custodian is hereby appointed the attorney-in-fact of the
Corporation to endorse and collect all checks, drafts or other
orders for the payment of money received by the Custodian for the
account of the Funds and drawn on or to the order of the Funds and
to deposit same to the account of the Funds pursuant to this
agreement.

Section 5. Receipt of Securities

Except as permitted by the second paragraph of this section, the
Custodian or its agent shall hold in a separate account or
accounts, and physically segregated at all times from those of any
other persons, firms or corporations, pursuant to the provisions
hereof, all securities received by it for the account of the Funds.
The Custodian shall record and maintain a record of all certificate
numbers. Securities so received shall be held in the name of the
respective Fund, in the name of an exclusive nominee duly appointed
by the Custodian or in bearer form, as appropriate.

Subject to such rules, regulations or guidelines as the United
States Securities and Exchange Commission may adopt, the Custodian
may deposit all or any part of the securities owned by the Funds in<PAGE>
PAGE 4
a securities depository which includes any system for the central
handling of securities established by a national securities
exchange or a national securities association registered with the
Securities and Exchange Commission under the Securities Exchange
Act of 1934, or such other person as may be permitted by the
Commission, pursuant to which system all securities of any
particular class or series of any issuer deposited within the
system are treated as fungible and may be transferred or pledged by
bookkeeping entry without physical delivery of such securities.

All securities are to be held or disposed of by the Custodian for,
and subject at all times to the instructions of, the Corporation
pursuant to the terms of this agreement. The Custodian shall have
no power or authority to assign, hypothecate, pledge or otherwise
dispose of any such securities, except pursuant to the directive of
the Corporation and only for the account of the Funds as set forth
in Section 6 of this agreement.

Section 6. Transfer Exchange, Delivery, etc. of Securities

The Custodian shall have sole power to release or deliver any
securities of the respective Fund held by it pursuant to this
agreement. The Custodian agrees to transfer, exchange or deliver
securities held by it or its agent hereunder only:

(a) for sales of such securities for the account of a Fund, upon
receipt of payment therefor;

(b) when such securities are called, redeemed, retired or
otherwise become payable;

(c) for examination upon the sale of any such securities in
accordance with "street delivery" custom which would include
delivery against interim receipts or other proper delivery
receipts;

(d) in exchange for or upon conversion into other securities
alone or other securities and cash whether pursuant to any
plan of merger, consolidation, reorganization,
recapitalization or readjustment, or otherwise;

(e) for the purpose of exchanging interim receipts or temporary
certificates for permanent certificates;

(f) upon conversion of such securities pursuant to their terms
into other securities;

(g) upon exercise of subscription, purchase or other similar
rights represented by such securities;

(h) for loans of such securities by the Funds on receipt of
collateral; or

(i) for other proper corporate purposes.

As to any deliveries made by the Custodian pursuant to items (a),
(b), (c), (d), (e), (f), (g) and (h), securities or cash received
in exchange therefore shall be delivered to the Custodian, its
agent, or to a securities depository. Before making any such <PAGE>
PAGE 5
transfer, exchange or delivery, the Custodian shall receive a
custodian order or a facsimile from the Corporation requesting such
transfer, exchange or delivery and stating that it is for a purpose
permitted under Section 6 (whenever a facsimile is utilized, the
Corporation will also deliver an original signed custodian order)
and, in respect to item (i), a copy of a resolution of the Board of
Directors or of the Executive Committee of the Board of Directors
of the Corporation signed by an officer of the Corporation and
certified by its Secretary or an Assistant Secretary, specifying
the securities, setting forth the purpose for which such payment,
transfer, exchange or delivery is to be made, declaring such
purpose to be a proper corporate purpose, and naming the person or
persons to whom such transfer, exchange or delivery of such
securities shall be made.

Section 7. Custodian's Acts Without Instructions

Unless and until the Custodian receives a contrary custodian order
from the Corporation, the Custodian shall or shall cause its agent
to:

(a) present for payment all coupons and other income items held
by the Custodian or its agent for the account of one of the
Funds which call for payment upon presentation and hold all
cash received by it upon such payment for the account of the
respective Fund;

(b) present for payment all securities held by it or its agent
which mature or when called, redeemed, retired or otherwise
become payable;

Section 8. Voting and Other Action

Neither the Custodian nor any nominee of the Custodian shall vote
any of the securities held hereunder by or for the account of the
Funds. The Custodian shall promptly deliver to the Corporation all
notices, proxies and proxy soliciting materials with relation to
such securities, such proxies to be executed by the registered
holder of such securities (if registered otherwise than in the name
of the Corporation), but without indicating the manner in which
such proxies are to be voted.

Custodian shall transmit promptly to the Corporation all written
information (including, without limitation, pendency of calls and
maturities of securities and expirations of rights in connection
therewith) received by the Custodian from issuers of the securities
being held for the Funds. With respect to tender or exchange
offers, the Custodian shall transmit promptly to the Corporation
all written information received by the Custodian from issuers of <PAGE>
PAGE 6
the securities whose tender or exchange is sought and from the
party (or his agents) making the tender or exchange offer.

Section 9. Transfer Taxes

The Corporation shall, on behalf of the Funds, pay or reimburse the
Custodian for any transfer taxes payable upon transfers of
securities made hereunder, including transfers resulting from the
termination of this agreement. The Custodian shall execute such
certificates in connection with securities delivered to it under
this agreement as may be required, under any applicable law or
regulation, to exempt from taxation any transfers and/or deliveries
of any such securities which may be entitled to such exemption.

Section 10. Custodian's Reports

The Custodian shall furnish the Corporation as of the close of
business each day a statement showing all transactions and entries
for the account of the Funds. The books and records of the
Custodian pertaining to its actions as Custodian under this
agreement and securities held hereunder by the Custodian shall be
open to inspection and audit by officers of the Corporation,
internal auditors employed by the Corporation's investment adviser,
and independent auditors employed by the Corporation. The
Custodian shall furnish the Corporation in such form as may
reasonably be requested by the Corporation a report, including a
list of the securities held by it in custody for the account of
each Fund, identification of any subcustodian, and identification
of such securities held by such subcustodian, as of the close of
business of the last business day of each month, which shall be
certified by a duly authorized officer of the Custodian. It is
further understood that additional reports may from time to time be
requested by the Corporation. Should any report ever be filed with
any governmental authority pertaining to lost or stolen securities,
the Custodian will concurrently provide the Corporation with a copy
of that report.

The Custodian also shall furnish such reports on its systems of
internal accounting control as the Corporation may reasonably
request from time to time.

Section 11. Concerning Custodian

For its services hereunder the Custodian shall be paid such
compensation at such times as may from time to time be agreed on in
writing by the parties hereto in a Custodian Fee Agreement.

The Corporation, on behalf of the Funds, agrees to indemnify and
hold harmless Custodian and its nominee from all taxes, charges,
expenses, assessments, claims and liabilities (including reasonable
counsel fees) incurred or assessed against it or its nominee in <PAGE>
PAGE 7
connection with the performance of this agreement, except such as
may arise from the Custodian's or its nominee's own negligent
action, negligent failure to act or willful misconduct. In the
event of any advance of cash for any purpose made by Custodian
resulting from orders or instructions of the Corporation, or in the
event that Custodian or its nominee shall incur or be assessed any
taxes, charges, expenses, assessments, claims or liabilities in
connection with the performance of this agreement, except such as
may arise from its or its nominee's own negligent action, negligent
failure to act or willful misconduct, any property at any time held
for the account of the respective Fund shall be security therefor.

Section 12. Termination and Amendment of Agreement

The Corporation and the Custodian mutually may agree from time to
time in writing to amend, to add to, or to delete from any
provision of this agreement.

The Custodian may terminate this agreement by giving the
Corporation ninety days' written notice of such termination by
registered mail addressed to the Corporation at its principal place
of business.

The Corporation may terminate this agreement, on behalf of one or
more of the Funds, at any time by written notice thereof delivered,
together with a copy of the resolution of the Board of Directors
authorizing such termination and certified by the Secretary of the
Corporation, by registered mail to the Custodian.

Upon such termination of this agreement, assets of the Funds (for
which the agreement has been terminated) held by the Custodian
shall be delivered by the Custodian to a successor custodian, if
one has been appointed by the Corporation, upon receipt by the
Custodian of a copy of the resolution of the Board of Directors of
the Corporation certified by the Secretary, showing appointment of
the successor custodian, and provided that such successor custodian
is a bank or trust company, organized under the laws of the United
States or of any State of the United States, having not less than
two million dollars aggregate capital, surplus and undivided
profits. Upon the termination of this agreement as a part of the
transfer of assets, either to a successor custodian or otherwise,
the Custodian will deliver securities held by it hereunder, when so
authorized and directed by resolution of the Board of Directors of
the Corporation, to a duly appointed agent of the successor
custodian or to the appropriate transfer agents for transfer of
registration and delivery as directed. Delivery of assets on <PAGE>
PAGE 8
termination of this agreement shall be effected in a reasonable,
expeditious and orderly manner; and in order to accomplish an
orderly transition from the Custodian to the successor custodian,
the Custodian shall continue to act as such under this agreement as
to assets in its possession or control. Termination as to each
security shall become effective upon delivery to the successor
custodian, its agent, or to a transfer agent for a specific
security for the account of the successor custodian, and such
delivery shall constitute effective delivery by the Custodian to
the successor under this agreement.

In addition to the means of termination herein before authorized,
this agreement may be terminated, as to any Fund or for all the
Funds, at any time by the vote of a majority of the outstanding
shares of the respective Fund (or Funds) and after written notice
of such action to the Custodian.

Section 13. General

Nothing expressed or mentioned in or to be implied from any
provision of this agreement is intended to, or shall be construed
to give any person or corporation other than the parties hereto,
any legal or equitable right, remedy or claim under or in respect
of this agreement, or any covenant, condition or provision herein
contained, this agreement and all of the covenants, conditions and
provisions hereof being intended to be and being for the sole and
exclusive benefit of the parties hereto and their respective
successors and assigns.

This agreement shall be governed by the laws of the State of
Minnesota.

This agreement supersedes all prior agreements between the parties.

IN WITNESS WHEREOF, the Corporation and the Custodian have caused
this agreement to be executed as of the date first above written by
their respective officers thereunto duly authorized.

IDS GLOBAL SERIES, INC.
IDS Emerging Markets Fund
IDS Global Balanced Fund
IDS Innovations Fund

By: /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS TRUST COMPANY

By: /s/ Chandrakant A. Patel
Chandrakant A. Patel
Vice President

<PAGE>
PAGE 1
ADDENDUM TO THE CUSTODIAN AGREEMENT

THIS ADDENDUM TO THE CUSTODIAN AGREEMENT dated November 13, 1996,
between IDS Global Series, Inc. (the "Corporation") on behalf of
its underlying series funds: IDS Emerging Markets Fund and IDS
Innovations Fund (individually a "Fund" and collectively the
"Funds"); American Express Trust Company (the "Custodian") and
American Express Financial Corporation ("AEFC") is made pursuant to
Section 12 of the agreement to reflect the Funds' arrangement of
investing all of their assets in a master trust.

Whereas, AEFC serves as administrator for the Corporation and for
the master trust in which the Funds invest.

Now, therefore, the Corporation, the Custodian and AEFC agree as
follows:

The parties to this agreement acknowledge that, so long as the
Funds invest all of their assets in a master trust, the only assets
held by the Funds will be units of the master trust. The parties
agree that the Custodian is entitled to rely upon AEFC for an
accounting of the number of units held, purchased or redeemed by
the Funds and to delegate to AEFC responsibility for all reporting
to the Corporation. AEFC agrees to indemnify and hold harmless the
Custodian from all claims and liabilities incurred or assessed
against the Custodian in connection with the accounting for and
reporting to the Corporation by AEFC.

IN WITNESS WHEREOF, the Corporation, the Custodian and AEFC have
caused this Addendum to the Custodian Agreement to be executed on
November 13, 1996 which shall remain in effect until terminated by
one of the parties on written notice to the other parties to this
Addendum.

IDS GLOBAL SERIES, INC.
IDS EMERGING MARKETS FUND
IDS INNOVATIONS FUND

By /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS TRUST COMPANY

By /s/ Chandrakant A. Patel
Chandrakant A. Patel
Vice President

AMERICAN EXPRESS FINANCIAL CORPORATION

By /s/ Michael J. Hogan
Michael J. Hogan
Vice President

<PAGE>
PAGE 1
ADDENDUM TO THE CUSTODIAN AGREEMENT

THIS ADDENDUM TO THE CUSTODIAN AGREEMENT dated March 20, 1995
between IDS Global Series, Inc. (the Corporation) on behalf of its
underlying series funds (the Funds) and American Express Trust
Company (the Custodian) is made pursuant to Section 12 of the
Agreement to reflect the Corporation's arrangement of investing all
of the Fund's assets in corresponding portfolios of a master trust.

American Express Financial Corporation (AEFC) serves as
administrator for the Corporation and for the master trust in which
the Funds invest.

The Corporation, the Custodian and AEFC agree as follows:

The parties to this Agreement acknowledge that, so long as the
Funds invest all of their assets in corresponding portfolios of a
master trust, the only assets held by the Funds will be units of
the corresponding portfolios of the master trust. The parties
agree that the Custodian is entitled to rely upon AEFC for an
accounting of the number of units held, purchased or redeemed by
the Corporation and to delegate to AEFC responsibility for all
reporting to the Corporation. AEFC agrees to indemnify and hold
harmless the Custodian from all claims and liabilities incurred or
assessed against the Custodian in connection with the accounting
for and reporting to the Corporation by AEFC.

IN WITNESS WHEREOF, the Corporation, the Custodian and AEFC have
caused this addendum to the Custodian Agreement to be executed on
May 13, 1996 which shall remain in effect until terminated by one
of the parties on written notice to the other parties to this
Addendum.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund
IDS Global Growth Fund

By /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS TRUST COMPANY

By/s/ Chandrakant A. Patel
Chandrakant A. Patel
Vice President

AMERICAN EXPRESS FINANCIAL CORPORATION

By/s/ Richard W. Kling
Richard W. Kling
Senior Vice President

<PAGE>
PAGE 1
TRANSFER AGENCY AGREEMENT

AGREEMENT dated as of March 20, 1995, between IDS Global Series,
Inc. (the "Corporation"), a Minnesota corporation, on behalf of its
underlying series funds, and American Express Financial Corporation
(the "Transfer Agent"), a Delaware corporation.

In consideration of the mutual promises set forth below, the
Corporation and the Transfer Agent agree as follows:

1. Appointment of the Transfer Agent. The Corporation hereby
appoints the Transfer Agent, as transfer agent for its shares and
as shareholder servicing agent for the Corporation, and the
Transfer Agent accepts such appointment and agrees to perform the
duties set forth below.

2. Compensation. The Corporation will compensate the Transfer Agent
for the performance of its obligations as set forth in Schedule A.
Schedule A does not include out-of-pocket disbursements of the
Transfer Agent for which the Transfer Agent shall be entitled to
bill the Corporation separately.

The Transfer Agent will bill the Corporation monthly. The fee
provided for hereunder shall be paid in cash by the Corporation to
American Express Financial Corporation within five (5) business
days after the last day of each month.

Out-of-pocket disbursements shall include, but shall not be limited
to, the items specified in Schedule B. Reimbursement by the
Corporation for expenses incurred by the Transfer Agent in any
month shall be made as soon as practicable after the receipt of an
itemized bill from the Transfer Agent.

Any compensation jointly agreed to hereunder may be adjusted from
time to time by attaching to this Agreement a revised Schedule A,
dated and signed by an officer of each party.

3. Documents. The Corporation will furnish from time to time such
certificates, documents or opinions as the Transfer Agent deems to
be appropriate or necessary for the proper performance of its
duties.

4. Representations of the Corporation and the Transfer Agent.

(a) The Corporation represents to the Transfer Agent that all
outstanding shares are validly issued, fully paid and
non-assessable by the Corporation. When shares are hereafter
issued in accordance with the terms of the Corporation's Articles
of Incorporation and its prospectus, such shares shall be validly
issued, fully paid and non-assessable by the Corporation.

<PAGE>
PAGE 2
5. Duties of the Transfer Agent. The Transfer Agent shall be
responsible, separately and through its subsidiaries or affiliates,
for the following functions:

(a) Sale of Corporation Shares.

(1) On receipt of an application and payment, wired instructions
and payment, or payment identified as being for the account of a
shareholder, the Transfer Agent will deposit the payment, prepare
and present the necessary report to the Custodian and record the
purchase of shares in a timely fashion in accordance with the terms
of the prospectus. All shares shall be held in book entry form and
no certificate shall be issued unless the Corporation is permitted
to do so by the prospectus and the purchaser so requests.

(2) On receipt of notice that payment was dishonored, the Transfer
Agent shall stop redemptions of all shares owned by the purchaser
related to that payment, place a stop payment on any checks that
have been issued to redeem shares of the purchaser and take such
other action as it deems appropriate.

(b) Redemption of Corporation Shares. On receipt of instructions to
redeem shares in accordance with the terms of the Corporation's
prospectus, the Transfer Agent will record the redemption of shares
of the Corporation, prepare and present the necessary report to the
Custodian and pay the proceeds of the redemption to the
shareholder, an authorized agent or legal representative upon the
receipt of the monies from the Custodian.

(c) Transfer or Other Change Pertaining to Corporation Shares. On
receipt of instructions or forms acceptable to the Transfer Agent
to transfer the shares to the name of a new owner, change the name
or address of the present owner or take other legal action, the
Transfer Agent will take such action as is requested.

(d) Exchange of Corporation Shares. On receipt of instructions to
exchange the shares of the Corporation for the shares of another
fund in the IDS MUTUAL FUND GROUP or other American Express
Financial Corporation product in accordance with the terms of the
prospectus, the Transfer Agent will process the exchange in the
same manner as a redemption and sale of shares.

(e) Right to Seek Assurance. The Transfer Agent may refuse to
transfer, exchange or redeem shares of the Corporation or take any
action requested by a shareholder until it is satisfied that the
requested transaction or action is legally authorized or until it
is satisfied there is no basis for any claims adverse to the
transaction or action. It may rely on the provisions of the
Uniform Act for the Simplification of Fiduciary Security Transfers
or the Uniform Commercial Code. The Corporation shall indemnify
the Transfer Agent for any act done or omitted to be done in
reliance on such laws or for refusing to transfer, exchange or
redeem shares or taking any requested action if it acts on a good
faith belief that the transaction or action is illegal or
unauthorized.

(f) Shareholder Records, Reports and Services.
<PAGE>
PAGE 3
(1) The Transfer Agent shall maintain all shareholder accounts,
which shall contain all required tax, legally imposed and
regulatory information; shall provide shareholders, and file with
federal and state agencies, all required tax and other reports
pertaining to shareholder accounts; shall prepare shareholder
mailing lists; shall cause to be printed and mailed all required
prospectuses, annual reports, semiannual reports, statements of
additional information (upon request), proxies and other mailings
to shareholders; and shall cause proxies to be tabulated.

(2) The Transfer Agent shall respond to all valid inquiries related
to its duties under this Agreement.

(3) The Transfer Agent shall create and maintain all records in
accordance with all applicable laws, rules and regulations,
including, but not limited to, the records required by Section
31(a) of the Investment Company Act of 1940.

(g) Dividends and Distributions. The Transfer Agent shall prepare
and present the necessary report to the Custodian and shall cause
to be prepared and transmitted the payment of income dividends and
capital gains distributions or cause to be recorded the investment
of such dividends and distributions in additional shares of the
Corporation or as directed by instructions or forms acceptable to
the Transfer Agent.

(h) Confirmations and Statements. The Transfer Agent shall confirm
each transaction either at the time of the transaction or through
periodic reports as may be legally permitted.

(i) Lost or Stolen Checks. The Transfer Agent will replace lost or
stolen checks issued to shareholders upon receipt of proper
notification and will maintain any stop payment orders against the
lost or stolen checks as it is economically desirable to do.

(j) Reports to Corporation. The Transfer Agent will provide reports
pertaining to the services provided under this Agreement as the
Corporation may request to ascertain the quality and level of
services being provided or as required by law.

(k) Other Duties. The Transfer Agent may perform other duties for
additional compensation if agreed to in writing by the parties to
this Agreement.

6. Ownership and Confidentiality of Records. The Transfer Agent
agrees that all records prepared or maintained by it relating to
the services to be performed by it under the terms of this
Agreement are the property of the Corporation and may be inspected
by the Corporation or any person retained by the Corporation at
reasonable times. The Corporation and Transfer Agent agree to
protect the confidentiality of those records.

7. Action by Board and Opinion of Corporation's Counsel. The
Transfer Agent may rely on resolutions of the Board of Directors or
the Executive Committee of the Board of Directors and on opinion of
counsel for the Corporation.

<PAGE>
PAGE 4
8. Duty of Care. It is understood and agreed that, in furnishing
the Corporation with the services as herein provided, neither the
Transfer Agent, nor any officer, director or agent thereof shall be
held liable for any loss arising out of or in connection with their
actions under this Agreement so long as they act in good faith and
with due diligence, and are not negligent or guilty of any willful
misconduct. It is further understood and agreed that the Transfer
Agent may rely upon information furnished to it reasonably believed
to be accurate and reliable. In the event the Transfer Agent is
unable to perform its obligations under the terms of this Agreement
because of an act of God, strike or equipment or transmission
failure reasonably beyond its control, the Transfer Agent shall not
be liable for any damages resulting from such failure.

9. Term and Termination. This Agreement shall become effective on
the date first set forth above (the "Effective Date") and shall
continue in effect from year to year thereafter as the parties may
mutually agree; provided that either party may terminate this
Agreement by giving the other party notice in writing specifying
the date of such termination, which shall be not less than 60 days
after the date of receipt of such notice. In the event such notice
is given by the Corporation, it shall be accompanied by a vote of
the Board of Directors, certified by the Secretary, electing to
terminate this Agreement and designating a successor transfer agent
or transfer agents. Upon such termination and at the expense of
the Corporation, the Transfer Agent will deliver to such successor
a certified list of shareholders of the Corporation (with name,
address and taxpayer identification or Social Security number), a
historical record of the account of each shareholder and the status
thereof, and all other relevant books, records, correspondence, and
other data established or maintained by the Transfer Agent under
this Agreement in the form reasonably acceptable to the
Corporation, and will cooperate in the transfer of such duties and
responsibilities, including provisions for assistance from the
Transfer Agent's personnel in the establishment of books, records
and other data by such successor or successors.

10. Amendment. This Agreement may not be amended or modified in any
manner except by a written agreement executed by both parties.

11. Subcontracting. The Corporation agrees that the Transfer Agent
may subcontract for certain of the services described under this
Agreement with the understanding that there shall be no diminution
in the quality or level of the services and that the Transfer Agent
remains fully responsible for the services. Except for
out-of-pocket expenses identified in Schedule B, the Transfer Agent
shall bear the cost of subcontracting such services, unless
otherwise agreed by the parties.

12. Miscellaneous.

(a) This Agreement shall extend to and shall be binding upon the
parties hereto, and their respective successors and assigns;
provided, however, that this Agreement shall not be assignable
without the written consent of the other party.

<PAGE>
PAGE 5
(b) This Agreement shall be governed by the laws of the State of
Minnesota.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be executed by their respective officers as of the day and year
written above.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund
IDS Global Growth Fund

By: /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL CORPORATION

By: /s/ Janis E. Miller
Janis E. Miller
Vice President

<PAGE>
PAGE 6

Schedule A

IDS GLOBAL SERIES, INC.

TRANSFER AGENT FEE

Effective the 20th day of March, 1995, the Annual Per Account
Fee accrued daily and payable monthly is revised as follows:
<TABLE><CAPTION>
Class A Class B Class Y
<S> <C> <C>
IDS Global Growth $15.00 $16.00 $15.00

IDS Global Bond $15.50 $16.50 $15.50

</TABLE>

<PAGE>
PAGE 7
Schedule B
OUT-OF-POCKET EXPENSES

The Corporation shall reimburse the Transfer Agent monthly for the
following out-of-pocket expenses:

o typesetting, printing, paper, envelopes, postage and return
postage for proxy soliciting material, and proxy tabulation costs

o printing, paper, envelopes and postage for dividend notices,
dividend checks, records of account, purchase confirmations,
exchange confirmations and exchange prospectuses, redemption
confirmations, redemption checks, confirmations on changes of
address and any other communication required to be sent to
shareholders

o typesetting, printing, paper, envelopes and postage for
prospectuses, annual and semiannual reports, statements of
additional information, supplements for prospectuses and statements
of additional information and other required mailings to
shareholders

o stop orders

o outgoing wire charges

o other expenses incurred at the request or with the consent of the
Corporation

<PAGE>
PAGE 1
TRANSFER AGENCY AGREEMENT

AGREEMENT dated as of November 13, 1996, between IDS Global Series,
Inc. (the "Corporation"), a Minnesota corporation, on behalf of its
underlying series funds: IDS Emerging Markets Fund, IDS Global
Balanced Fund and IDS Innovations Fund (individually a "Fund" and
collectively the "Funds"); and American Express Financial
Corporation (the "Transfer Agent"), a Delaware corporation.

In consideration of the mutual promises set forth below, the
Corporation and the Transfer Agent agree as follows:

1. Appointment of the Transfer Agent. The Corporation hereby
appoints the Transfer Agent, as transfer agent for the Funds'
shares and as shareholder servicing agent for the Funds, and the
Transfer Agent accepts such appointment and agrees to perform the
duties set forth below.

2. Compensation. The Corporation, on behalf of the Funds, will
compensate the Transfer Agent for the performance of its
obligations as set forth in Schedule A. Schedule A does not
include out-of-pocket disbursements of the Transfer Agent for which
the Transfer Agent shall be entitled to bill the Corporation
separately.

The Transfer Agent will bill the Corporation monthly. The fee
provided for hereunder shall be paid in cash to American Express
Financial Corporation within five (5) business days after the last
day of each month.

Any compensation jointly agreed to hereunder may be adjusted from
time to time by attaching to this agreement a revised Schedule A,
dated and signed by an officer of each party.

4. Representations of the Corporation and the Transfer Agent.

(a) The Corporation represents to the Transfer Agent that the
Funds'currently outstanding shares are validly issued, fully paid
and non-assessable by the Corporation. When shares are hereafter
issued in accordance with the terms of the Corporation's Articles
of Incorporation and By-Laws, such shares shall be validly issued,
fully paid and non-assessable by the Corporation.

(b) The Transfer Agent represents that it is registered under
Section 17A(c) of the Securities Exchange Act of 1934. The
Transfer Agent agrees to maintain the necessary facilities,
equipment and personnel to perform its duties and obligations under
this agreement and to comply with all applicable laws.<PAGE>
PAGE 2
5. Duties of the Transfer Agent. The Transfer Agent shall be
responsible, separately and through its subsidiaries or affiliates,
for the following functions:

(a) Sale of Fund Shares.

(1) On receipt of an application and payment, wired instructions
and payment, or payment identified as being for the account of a
shareholder, the Transfer Agent will deposit the payment, prepare
and present the necessary report to the Custodian (as that term is
defined in the Custodian Agreement of each date herewith) and
record the purchase of shares in a timely fashion in accordance
with the terms of the respective Fund's Prospectus. All shares
shall be held in book entry form and no certificate shall be issued
unless the applicable Fund is permitted to do so by its current
Prospectus and the purchaser so requests.

(b) Redemption of Fund Shares. On receipt of instructions to redeem
shares in accordance with the terms of the Funds' Prospectus, the
Transfer Agent will record the redemption of shares of the Fund,
prepare and present the necessary report to the Custodian and pay
the proceeds of the redemption to the shareholder, an authorized
agent or legal representative upon the receipt of the monies from
the Custodian.

(c) Transfer or Other Change Pertaining to Fund Shares. On receipt
of instructions or forms acceptable to the Transfer Agent to
transfer the shares to the name of a new owner, change the name or
address of the present owner or take other legal action, the
Transfer Agent will take such action as is requested.

(d) Exchange of Fund Shares. On receipt of instructions to exchange
the shares of a Fund for the shares of another fund in the IDS
MUTUAL FUND GROUP or other American Express Financial Corporation
product in accordance with the terms of the respective Fund's
Prospectus, the Transfer Agent will process the exchange in the
same manner as a redemption and sale of shares.

(e) Right to Seek Assurance. The Transfer Agent may refuse to
transfer, exchange or redeem shares of a Fund or take any action
requested by a shareholder until it is satisfied that the requested
transaction or action is legally authorized or until it is
satisfied there is no basis for any claims adverse to the
transaction or action. It may rely on the provisions of the
Uniform Act for the Simplification of Fiduciary Security Transfers
or the Uniform Commercial Code. The Corporation shall indemnify
the Transfer Agent for any act done or omitted to be done in
reliance on such laws or for refusing to transfer, exchange or
redeem shares or taking any requested action if it acts on a good
faith belief that the transaction or action is illegal or
unauthorized.

(f) Shareholder Records, Reports and Services.<PAGE>
PAGE 3
(1) The Transfer Agent shall maintain all shareholder accounts,
which shall contain all required tax, legally imposed and
regulatory information; shall provide shareholders, and file with
federal and state agencies, all required tax and other reports
pertaining to shareholder accounts; shall prepare shareholder
mailing lists; shall cause to be printed and mailed all required
prospectuses, annual reports, semiannual reports, statements of
additional information (upon request), proxies and other mailings
to shareholders; and shall cause proxies to be tabulated.

(2) The Transfer Agent shall respond to all valid inquiries related
to its duties under this agreement.

(g) Dividends and Distributions. The Transfer Agent shall prepare
and present the necessary report to the Custodian and shall cause
to be prepared and transmitted the payment of income dividends and
capital gains distributions or cause to be recorded the investment
of such dividends and distributions in additional shares of the
Funds or as directed by instructions or forms acceptable to the
Transfer Agent.

(h) Confirmations and Statements. The Transfer Agent shall confirm
each transaction either at the time of the transaction or through
periodic reports as may be legally permitted.

(j) Reports to the Corporation. The Transfer Agent will provide
reports pertaining to the services provided under this agreement as
the Corporation may request to ascertain the quality and level of
services being provided or as required by law.

(k) Other Duties. The Transfer Agent may perform other duties for
additional compensation if agreed to in writing by the parties to
this agreement.

6. Ownership and Confidentiality of Records. The Transfer Agent
agrees that all records prepared or maintained by it relating to
the services to be performed by it under the terms of this
agreement are the property of the Corporation and may be inspected
by the Corporation or any person retained by the Corporation at
reasonable times. The Corporation and Transfer Agent agree to
protect the confidentiality of those records.

7. Action by Board and Opinion of Counsel. The Transfer Agent may
rely on resolutions of the Board of Directors or the Executive
Committee of the Board of Directors and on opinion of counsel for
the Corporation.
<PAGE>
PAGE 4
8. Duty of Care. It is understood and agreed that, in furnishing
the Funds with the services as herein provided, neither the
Transfer Agent, nor any officer, director or agent thereof shall be
held liable for any loss arising out of or in connection with their
actions under this agreement so long as they act in good faith and
with due diligence, and are not negligent or guilty of any willful
misconduct. It is further understood and agreed that the Transfer
Agent may rely upon information furnished to it reasonably believed
to be accurate and reliable. In the event the Transfer Agent is
unable to perform its obligations under the terms of this agreement
because of an act of God, strike, or equipment or transmission
failure reasonably beyond its control, the Transfer Agent shall not
be liable for any damages resulting from such failure.

9. Term and Termination. This agreement shall become effective on
the date first set forth above (the "Effective Date") and shall
continue in effect from year to year thereafter as the parties may
mutually agree; provided that either party may terminate this
agreement by giving the other party notice in writing specifying
the date of such termination, which shall be not less than 60 days
after the date of receipt of such notice. In the event such notice
is given by the Corporation, it shall be accompanied by a vote of
the Board of Directors, certified by the Secretary, electing to
terminate this agreement and designating a successor transfer agent
or transfer agents. Upon such termination and at the expense of
the Corporation, the Transfer Agent will deliver to such successor
a certified list of shareholders of the Fund for which the
termination is effective (with name, address and taxpayer
identification or Social Security number), a historical record of
the account of each shareholder and the status thereof, and all
other relevant books, records, correspondence, and other data
established or maintained by the Transfer Agent under this
agreement in the form reasonably acceptable to the Corporation, and
will cooperate in the transfer of such duties and responsibilities,
including provisions for assistance from the Transfer Agent's
personnel in the establishment of books, records and other data by
such successor or successors.

10. Amendment. This agreement may not be amended or modified in any
manner except by a written agreement executed by both parties.

11. Subcontracting. The Corporation agrees that the Transfer Agent
may subcontract for certain of the services described under this
agreement with the understanding that there shall be no diminution
in the quality or level of the services and that the Transfer Agent
remains fully responsible for the services. Except for
out-of-pocket expenses identified in Schedule B, the Transfer Agent
shall bear the cost of subcontracting such services, unless
otherwise agreed by the parties.

12. Miscellaneous.

(a) This agreement shall extend to and shall be binding upon the
parties hereto, and their respective successors and assigns;
provided, however, that this agreement shall not be assignable
without the written consent of the other party.

(b) This agreement shall be governed by the laws of the State of
Minnesota.<PAGE>
PAGE 5
IN WITNESS WHEREOF, the parties hereto have caused this agreement
to be executed by their respective officers as of the day and year
written above.

IDS GLOBAL SERIES, INC.
IDS Emerging Markets Fund
IDS Global Balanced Fund
IDS Innovations Fund

By: /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL CORPORATION

By: /s/ Michael J. Hogan
Michael J. Hogan
Vice President
<PAGE>
PAGE 6
Schedule A

IDS GLOBAL SERIES, INC.

TRANSFER AGENT FEE

The Annual Per Account Fee accrued daily and payable monthly
is as follows:

Class A Class B Class Y
IDS Emerging Markets $15.00 $16.00 $15.00

IDS Global Balanced $15.00 $16.00 $15.00

IDS Innovations Fund $15.00 $16.00 $15.00

Until October 31, 1997, the Transfer Agent has agreed to waive
certain fees and to absorb certain fund expenses under the
agreement. If, at the end of any month, the fees and expense of
the respective Class A Shares under this agreement and any other
agreement between the Funds and the Transfer Agent exceed 1.35% for
IDS Emerging Markets, 1.50% for IDS Global Balanced or 1.35% for
IDS Innovations, that Fund shall not pay fees or expenses under
this agreement to the extent necessary to keep the expense ratio
from exceeding the limitation. In any month that fees and expenses
of Class A Shares exceed this limitation all fees and expenses in
excess of that limit will be returned to that Fund. Any fee waiver
or elimination of expenses will apply to each class on a pro rata
basis.
<PAGE>
PAGE 7
Schedule B
OUT-OF-POCKET EXPENSES

The Corporation shall reimburse the Transfer Agent monthly for the
following out-of-pocket expenses:

o typesetting, printing, paper, envelopes, postage and return
postage for proxy soliciting material, and proxy tabulation costs;

o stop orders;

o outgoing wire charges; and

o other expenses incurred at the request or with the consent of the
Corporation.

<PAGE>
PAGE 1
Shareholder Service Agreement

This agreement is between IDS Global Series, Inc. (the
"Corporation"), on behalf of its underlying series funds, and
American Express Financial Advisors Inc., the principal underwriter
of the Corporation, for services to be provided to shareholders by
personal financial advisors and other servicing agents. It is
effective on the first day the Corporation offers multiple classes
of shares.

American Express Financial Advisors represents that shareholders
consider their financial advisor or servicing agent a significant
factor in their satisfaction with their investment and, to help
retain financial advisors or servicing agents, it is necessary for
the Corporation to pay annual servicing fees to financial advisors
and other servicing agents.

American Express Financial Advisors represents that fees paid to
financial advisors will be used by financial advisors to help
shareholders thoughtfully consider their investment goals and
objectively monitor how well the goals are being achieved. As
principal underwriter, American Express Financial Advisors will use
its best efforts to assure that other distributors provide
comparable services to shareholders for the servicing fees
received.

American Express Financial Advisors agrees to monitor the services
provided by financial advisors and servicing agents, to measure the
level and quality of services provided, to provide training and
support to financial advisors and servicing agents and to devise
methods for rewarding financial advisors and servicing agents who
achieve an exemplary level and quality of services.

The Corporation agrees to pay American Express financial advisors
and other servicing agents 0.15 percent of the net asset value for
each shareholder account assigned to a financial advisor or
servicing agent that holds either Class A or Class B shares. In
addition, the Corporation agrees to pay American Express Financial
Advisors' costs to monitor, measure, train and support services
provided by financial advisors or servicing agents up to 0.025
percent of the net asset value for each shareholder account
assigned to a financial advisor or servicing agent that holds
either Class A or Class B shares. The Corporation agrees to pay
American Express Financial Advisors in cash within five (5)
business days after the last day of each month.

American Express Financial Advisors agrees to provide the
Corporation, prior to the beginning of the calendar year, a budget
covering its expected costs to monitor, measure, train and support
services and a quarterly report of its actual expenditures.
American Express Financial Advisors agrees to meet with
representatives of the Corporation at their request to provide
information as may be reasonably necessary to evaluate its
performance under the terms of this agreement.
<PAGE>
PAGE 2
American Express Financial Advisors agrees that if, at the end of
any month, the expenses of the Corporation, including fees under
this agreement and any other agreement between the Corporation and
American Express Financial Advisors or American Express Financial
Corporation, but excluding taxes, brokerage commissions and charges
in connection with the purchase and sale of assets exceed the most
restrictive applicable state expense limitation for the
Corporation's current fiscal year, the Corporation shall not pay
fees and expenses under this agreement to the extent necessary to
keep the Corporation's expenses from exceeding the limitation, it
being understood that American Express Financial Advisors will
assume all unpaid expenses and bill the Corporation for them in
subsequent months but in no event can the accumulation of unpaid
expenses or billing be carried past the end of the Corporation's
fiscal year.

This agreement shall continue in effect for a period of more than
one year so long as it is reapproved at least annually at a meeting
called for the purpose of voting on the agreement by a vote, in
person, of the members of the Board who are not interested persons
of the Corporation and have no financial interest in the operation
of the agreement, and of all the members of the Board.

This agreement may be terminated at any time without payment of any
penalty by a vote of a majority of the members of the Board who are
not interested persons of the Corporation and have no financial
interest in the operation of the agreement or by American Express
Financial Advisors. The agreement will terminate automatically in
the event of its assignment as that term is defined in the
Investment Company Act of 1940. This agreement may be amended at
any time provided the amendment is approved in the same manner the
agreement was initially approved and the amendment is agreed to by
American Express Financial Advisors.

Approved this 20th day of March, 1995.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund
IDS Global Growth Fund

/s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL ADVISORS INC.

/s/ Janis E. Miller
Janis E. Miller
Vice President

<PAGE>
PAGE 1
Shareholder Service Agreement

This agreement is between IDS Global Series, Inc. (the
"Corporation"), on behalf of its underlying series funds: IDS
Emerging Markets Fund, IDS Global Balanced Fund and IDS Innovations
Fund (individually a "Fund" and collectively the "Funds"); and
American Express Financial Advisors Inc., the principal underwriter
of the Funds, for services to be provided to shareholders by
personal financial advisors and other servicing agents.
American Express Financial Advisors Inc. represents that
shareholders of the Funds consider their financial advisor or
servicing agent a significant factor in their satisfaction with
their investment and, to help retain financial advisors or
servicing agents, it is necessary for each Fund to pay annual
servicing fees to financial advisors and other servicing agents.

American Express Financial Advisors Inc. represents that fees paid
to financial advisors will be used by financial advisors to help
shareholders thoughtfully consider their investment goals and
objectively monitor how well the goals are being achieved. As
principal underwriter, American Express Financial Advisors Inc.
will use its best efforts to assure that other distributors provide
comparable services to shareholders for the servicing fees
received.

American Express Financial Advisors Inc. agrees to monitor the
services provided by financial advisors and servicing agents, to
measure the level and quality of services provided, to provide
training and support to financial advisors and servicing agents and
to devise methods for rewarding financial advisors and servicing
agents who achieve an exemplary level and quality of services.

The Corporation, on behalf of the Funds, agrees to pay American
Express Financial Advisors Inc. and other servicing agents 0.15
percent of the net asset value for each shareholder account
assigned to a financial advisor or servicing agent that holds the
Funds' respective Class A Common Stock or Class B Common Stock,
$0.01 par value per share (referred to as the "Class A Shares" and
the "Class B Shares.") In addition, the Corporation agrees to pay
American Express Financial Advisors Inc.'s costs to monitor,
measure, train and support services provided by financial advisors
or servicing agents up to 0.025 percent of the net asset value for
each shareholder account assigned to a financial advisor or
servicing agent that holds either Class A
Shares or Class B Shares. The Corporation, on behalf of the Funds,
agrees to pay American Express Financial Advisors Inc. in cash
within five (5) business days after the last day of each month.

American Express Financial Advisors Inc. agrees to provide each
Fund, prior to the beginning of the calendar year, with a budget
covering its expected costs to monitor, measure, train and support
services and a quarterly report of its actual expenditures.
American Express Financial Advisors Inc. agrees to meet with
representatives of the Corporation at their request to provide
information as may be reasonably necessary to evaluate its
performance under the terms of this agreement.

<PAGE>
PAGE 2
American Express Financial Advisors Inc. agrees that if, at the end
of any month, the expenses of a Fund, including fees under this
agreement and any other agreement between a Fund and American
Express Financial Advisors Inc. or American Express Financial
Corporation, but excluding taxes, brokerage commissions and charges
in connection with the purchase and sale of assets exceed the most
restrictive applicable state expense limitation for that Fund's
current fiscal year, that Fund shall not pay fees and expenses
under this agreement to the extent necessary to
keep the Fund's expenses from exceeding the limitation, it being
understood that American Express Financial Advisors Inc. will
assume all unpaid expenses and bill the Fund for them in subsequent
months but in no event can the accumulation of unpaid expenses or
billing be carried past the end of the respective Fund's fiscal
year.

This agreement may be terminated at any time (as to one or more of
the Funds) without payment of any penalty by a vote of a majority
of the members of the Board who are not interested persons of the
Corporation and have no financial interest in the operation of the
agreement or by American Express Financial Advisors Inc. The
agreement will terminate automatically in the event of its
assignment as that term is defined in the Investment Company Act of
1940. This agreement may be amended at any time provided the
amendment is approved in the same manner the agreement was
initially approved and the amendment is agreed to by American
Express Financial Advisors Inc.

Approved this 13th day of November, 1996.

IDS GLOBAL SERIES, INC.
IDS Emerging Markets Fund
IDS Global Balanced Fund
IDS Innovations Fund

/s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL ADVISORS INC.

/s/ Michael J. Hogan
Michael J. Hogan
Vice President

<PAGE>
PAGE 1
ADMINISTRATIVE SERVICES AGREEMENT

AGREEMENT made the 20th day of March, 1995, by and between IDS
Global Series Inc. (the "Corporation"), a Minnesota corporation, on
behalf of its underlying series funds, and American Express
Financial Corporation, a Delaware corporation.

Part One: SERVICES

(1) The Corporation hereby retains American Express Financial
Corporation, and American Express Financial Corporation hereby
agrees, for the period of this Agreement and under the terms and
conditions hereinafter set forth, to furnish the Corporation
continuously with all administrative, accounting, clerical,
statistical, correspondence, corporate and all other services of
whatever nature required in connection with the administration of
the Corporation as provided under this Agreement; and to pay such
expenses as may be provided for in Part Three hereof; subject
always to the direction and control of the Board of Directors, the
Executive Committee and the authorized officers of the Corporation.
American Express Financial Corporation agrees to maintain an
adequate organization of competent persons to provide the services
and to perform the functions herein mentioned. American Express
Financial Corporation agrees to meet with any persons at such times
as the Board of Directors deems appropriate for the purpose of
reviewing American Express Financial Corporation's performance
under this Agreement.

(2) The Corporation agrees that it will furnish to American Express
Financial Corporation any information that the latter may
reasonably request with respect to the services performed or to be
performed by American Express Financial Corporation under this
Agreement.

(3) It is understood and agreed that in furnishing the Corporation
with the services as herein provided, neither American Express
Financial Corporation, nor any officer, director or agent thereof
shall be held liable to the Corporation or its creditors or
shareholders for errors of judgment or for anything except willful
misfeasance, bad faith, or gross negligence in the performance of
its duties, or reckless disregard of its obligations and duties
under the terms of this Agreement. It is further understood and
agreed that American Express Financial Corporation may rely upon
information furnished to it reasonably believed to be accurate and
reliable.

Part Two: COMPENSATION FOR SERVICES

(1) The Corporation agrees to pay to American Express Financial
Corporation, and American Express Financial Corporation covenants
and agrees to accept from the Corporation in full payment for the
services furnished, based on the net assets of the Corporation as
set forth in the following table:
<PAGE>
PAGE 2
<TABLE><CAPTION>
Assets Annual Rate At Assets Annual Rate At
(Billions) Each Asset Level (Billions) Each Asset Level
<S>
Global Bond Global Growth
<C> <C>
First $0.25 0.060% First $0.25 0.060%
Next 0.25 0.055 Next 0.25 0.055
Next 0.25 0.050 Next 0.25 0.050
Next 0.25 0.045 Next 0.25 0.045
Over 1 0.040 Over 1 0.040
Over 2 0.035
</TABLE>
The administrative fee for each calendar day of each year shall be
equal to 1/365th (1/366th in each leap year) of the total amount
computed. The computation shall be made for each such day on the
basis of net assets as of the close of business of the full
business day two (2) business days prior to the day for which the
computation is being made. In the case of the suspension of the
computation of net asset value, the administrative fee for each day
during such suspension shall be computed as of the close of
business on the last full business day on which the net assets were
computed. As used herein, "net assets" as of the close of a full
business day shall include all transactions in shares of the
Corporation recorded on the books of the Corporation for that day.

(2) The administrative fee shall be paid on a monthly basis and, in
the event of the termination of this Agreement, the administrative
fee accrued shall be prorated on the basis of the number of days
that this Agreement is in effect during the month with respect to
which such payment is made.

(3) The administrative fee provided for hereunder shall be paid in
cash by the Corporation to American Express Financial Corporation
within five (5) business days after the last day of each month.

Part Three: ALLOCATION OF EXPENSES

(1) The Corporation agrees to pay:

(a) Administrative fees payable to American Express Financial
Corporation for its services under the terms of this Agreement.

(b) Taxes.

(d) Fees and expenses of attorneys (i) it employs in matters not
involving the assertion of a claim by a third party against the
Corporation, its directors and officers, (ii) it employs in
conjunction with a claim asserted by the Board of Directors against
American Express Financial Corporation, except that American
Express Financial Corporation shall reimburse the Corporation for
such fees and expenses if it is ultimately determined by a court of
competent jurisdiction, or American Express Financial Corporation
agrees, that it is liable in whole or in part to the Corporation,
and (iii) it employs to assert a claim against a third party.<PAGE>
PAGE 3
(e) Fees paid for the qualification and registration for public
sale of the securities of the Corporation under the laws of the
United States and of the several states in which such securities
shall be offered for sale.

(f) Office expenses which shall include a charge for occupancy,
insurance on the premises, furniture and equipment, telephone,
telegraph, electronic information services, books, periodicals,
published services, and office supplies used by the Corporation,
equal to the cost of such incurred by American Express Financial
Corporation.

(g) Fees of consultants employed by the Corporation.

(h) Directors, officers and employees expenses which shall include
fees, salaries, memberships, dues, travel, seminars, pension,
profit sharing, and all other benefits paid to or provided for
directors, officers and employees, directors and officers liability
insurance, errors and omissions liability insurance, worker's
compensation insurance and other expenses applicable to the
directors, officers and employees, except the Corporation will not
pay any fees or expenses of any person who is an officer or
employee of American Express Financial Corporation or its
affiliates.

(i) Filing fees and charges incurred by the Corporation in
connection with filing any amendment to its articles of
incorporation, or incurred in filing any other document with the
State of Minnesota or its political subdivisions.

(j) Organizational expenses of the Corporation.

(k) One-half of the Investment Company Institute membership dues
charged jointly to the IDS MUTUAL FUND GROUP and American Express
Financial Corporation.

(l) Expenses properly payable by the Corporation, approved by the
Board of Directors.

(2) American Express Financial Corporation agrees to pay all
expenses associated with the services it provides under the terms
of this Agreement. Further, American Express Financial Corporation
agrees that if, at the end of any month, the expenses of the
Corporation under this Agreement and any other agreement between
the Corporation and American Express Financial Corporation, but
excluding those expenses set forth in (1)(b) of this Part Three,
exceed the most restrictive applicable state expenses limitation,
the Corporation shall not pay those expenses set forth in (1)(a)
and (c) through (m) of this Part Three to the extent necessary to
keep the Corporation's expenses from exceeding the limitation, it
being understood that American Express Financial Corporation will
assume all unpaid expenses and bill the Corporation for them in
subsequent months but in no event can the accumulation of unpaid
expenses or billing be carried past the end of the Corporation's
fiscal year.

<PAGE>
PAGE 4
Part Four: MISCELLANEOUS

(1) American Express Financial Corporation shall be deemed to be an
independent contractor and, except as expressly provided or
authorized in this Agreement, shall have no authority to act for or
represent the Corporation.

(2) A "full business day" shall be as defined in the By-laws.

(3) The Corporation recognizes that American Express Financial
Corporation now renders and may continue to render investment
advice and other services to other investment companies and persons
which may or may not have investment policies and investments
similar to those of the Corporation and that American Express
Financial Corporation manages its own investments and/or those of
its subsidiaries. American Express Financial Corporation shall be
free to render such investment advice and other services and the
Corporation hereby consents thereto.

(4) Neither this Agreement nor any transaction had pursuant hereto
shall be invalidated or in anyway affected by the fact that
directors, officers, agents and/or shareholders of the Corporation
are or may be interested in American Express Financial Corporation
or any successor or assignee thereof, as directors, officers,
stockholders or otherwise; that directors, officers, stockholders
or agents of American Express Financial Corporation are or may be
interested in the Corporation as directors, officers, shareholders,
or otherwise; or that American Express Financial Corporation or any
successor or assignee, is or may be interested in the Corporation
as shareholder or otherwise, provided, however, that neither
American Express Financial Corporation, nor any officer, director
or employee thereof or of the Corporation, shall sell to or buy
from the Corporation any property or security other than shares
issued by the Corporation, except in accordance with applicable
regulations or orders of the United States Securities and Exchange
Commission.

(5) Any notice under this Agreement shall be given in writing,
addressed, and delivered, or mailed postpaid, to the party to this
Agreement entitled to receive such, at such party's principal place
of business in Minneapolis, Minnesota, or to such other address as
either party may designate in writing mailed to the other.

(6) American Express Financial Corporation agrees that no officer,
director or employee of American Express Financial Corporation will
deal for or on behalf of the Corporation with himself as principal
or agent, or with any corporation or partnership in which he may
have a financial interest, except that this shall not prohibit
officers, directors or employees of American Express Financial
Corporation from having a financial interest in the Corporation or
in American Express Financial Corporation.

(7) The Corporation agrees that American Express Financial
Corporation may subcontract for certain of the services described
under this Agreement with the understanding that there shall be no
diminution in the quality or level of the services and that
American Express Financial Corporation remains fully responsible
for the services.<PAGE>
PAGE 5
(8) This Agreement shall extend to and shall be binding upon the
parties hereto, and their respective successors and assigns;
provided, however, that this Agreement shall not be assignable
without the written consent of the other party. This Agreement
shall be governed by the laws of the State of Minnesota.

Part Five: RENEWAL AND TERMINATION

(1) This Agreement shall become effective on the date first set
forth above (the "Effective Date") and shall continue in effect
from year to year thereafter as the parties may mutually agree;
provided that either party may terminate this Agreement by giving
the other party notice in writing specifying the date of such
termination, which shall be not less than 60 days after the date of
receipt of such notice.

(2) This Agreement may not be amended or modified in any manner
except by a written agreement executed by both parties.

IN WITNESS THEREOF, the parties hereto have executed the foregoing
Agreement as of the day and year first above written.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund
IDS Global Growth Fund

By: /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL CORPORATION

By: /s/ Janis E. Miller
Janis E. Miller
Vice President

<PAGE>
PAGE 1
ADMINISTRATIVE SERVICES AGREEMENT

AGREEMENT made the 13th of November, 1996, by and between IDS
Global Series, Inc. (the "Corporation"), a Minnesota corporation,
on behalf of its underlying series funds: IDS Emerging Markets
Fund, IDS Global Balanced Fund and IDS Innovations Fund
(individually a "Fund" and collectively the "Funds"); and American
Express Financial Corporation, a Delaware corporation.

Part One: SERVICES

(1) The Corporation hereby retains American Express Financial
Corporation, and American Express Financial Corporation hereby
agrees, for the period of this agreement and under the terms and
conditions hereinafter set forth, to furnish the Funds continuously
with all administrative, accounting, clerical, statistical,
correspondence, corporate and all other services of whatever nature
required in connection with the administration of the Funds as
provided under this agreement; and to pay such expenses as may be
provided for in Part Three hereof; subject always to the direction
and control of the Board of Directors, the Executive Committee and
the authorized officers of the Corporation. American Express
Financial Corporation agrees to maintain an adequate organization
of competent persons to provide the services and to perform the
functions herein mentioned. American Express Financial Corporation
agrees to meet with any persons at such times as the Board of
Directors deems appropriate for the purpose of reviewing American
Express Financial Corporation's performance under this agreement.

(3) It is understood and agreed that in furnishing the Funds with
the services as herein provided, neither American Express Financial
Corporation, nor any officer, director or agent thereof shall be
held liable to the Corporation (and/or the Funds) or its creditors
or shareholders for errors of judgment or for anything except
willful misfeasance, bad faith, or gross negligence in the
performance of its duties, or reckless disregard of its obligations
and duties under the terms of this agreement. It is further
understood and agreed that American Express Financial Corporation
may rely upon information furnished to it reasonably believed to be
accurate and reliable.

Part Two: COMPENSATION FOR SERVICES

(1) The Corporation agrees to pay to American Express Financial
Corporation, on behalf of the Funds, and American Express Financial
Corporation covenants and agrees to accept from the Corporation in
full payment for the services furnished, a fee based on the net
assets of each Fund as set forth in the following table:
<

Global Balanced
Emerging Markets Innovations

Assets Annual Rate At Assets Annual Rate At
(Billions) Each Asset Level (Billions) Each Asset Level
<S> <C> <C> <C>
First $0.25 0.10% First $0.25 0.060%
Next 0.25 0.09 Next 0.25 0.055
Next 0.25 0.08 Next 0.25 0.050
Next 0.25 0.07 Next 0.25 0.045
Next 1.00 0.06 Next 1.00 0.040
Over 2.00 0.05 Over 2.00 0.035
</TABLE>
The administrative fee for each calendar day of each year shall be
equal to 1/365th (1/366th in each leap year) of the total amount
computed. The computation shall be made for each such day on the
basis of net assets as of the close of business of the full
business day two (2) business days prior to the day for which the
computation is being made. In the case of the suspension of the
computation of net asset value, the administrative fee for each day
during the suspension shall be computed as of the close of business
on the last full business day on which the net assets were
computed. "Net assets" as of the close of a full business day
shall include all transactions in shares of the each Fund recorded
on the books of each Fund for that day.

(2) The administrative fee shall be paid on a monthly basis and, in
the event of the termination of this agreement, the administrative
fee accrued shall be prorated on the basis of the number of days
that this agreement is in effect during the month with respect to
which such payment is made.

(3) The administrative fee provided for hereunder shall be paid in
cash to American Express Financial Corporation within five (5)
business days after the last day of each month.

Part Three: ALLOCATION OF EXPENSES

(1) The Corporation, on behalf of the Funds, agrees to pay:

(a) Administrative fees payable to American Express Financial
Corporation for its services under the terms of this agreement;

(b) Taxes;

(d) Fees and expenses of attorneys (i) it employs in matters not
involving the assertion of a claim by a third party against the
Corporation, its directors and officers, (ii) it employs in
conjunction with a claim asserted by the Board of Directors against
American Express Financial Corporation, except that American
Express Financial Corporation shall reimburse the Corporation for
such fees and expenses if it is ultimately determined by a court of
competent jurisdiction, or American Express Financial Corporation
agrees, that it is liable in whole or in part to the Corporation
(and/or the Funds), and (iii) it employs to assert a claim against
a third party;
<PAGE>
PAGE 3
(e) Fees paid for the qualification and registration for public
sale of the securities of the Funds under the laws of the United
States and of the several states in which such securities shall be
offered for sale;

(f) Office expenses which shall include a charge for occupancy,
insurance on the premises, furniture and equipment, telephone,
telegraph, electronic information services, books, periodicals,
published services, and office supplies used by the Funds, equal to
the cost of such incurred by American Express Financial
Corporation;

(g) Fees of consultants employed by the Corporation;

(j) Organizational expenses of the Funds;

(k) One-half of the Investment Company Institute membership dues
charged jointly to the IDS MUTUAL FUND GROUP and American Express
Financial Corporation; and

(l) Expenses properly payable by the Corporation, approved by the
Board of Directors.

(2) American Express Financial Corporation agrees to pay all
expenses associated with the services it provides under the terms
of this agreement. Further, American Express Financial Corporation
agrees that if, at the end of any month, the expenses of any Fund
under this agreement and any other agreement between the Funds and
American Express Financial Corporation, but excluding those
expenses set forth in (1)(b) of this Part Three, exceed the most
restrictive applicable state expense limitation, that Fund shall
not pay those expenses set forth in (1)(a) and (c) through (m) of
this Part Three to the extent necessary to keep the Fund's expenses
from exceeding the limitation, it being understood that American
Express Financial Corporation will assume all unpaid expenses and
bill that Fund for them in subsequent months but in no event can
the accumulation of unpaid expenses or billing be carried past the
end of the Fund's fiscal year.

Until October 31, 1997, American Express Financial Corporation has
agreed to waive certain fees and to absorb certain fund expenses
under the agreement. If, at the end of any month, the fees and
expense of the Funds' respective Class A Common Stock, $0.01 par <PAGE>
PAGE 4
value per share (collectively referred to as the "Class A Shares")
under this agreement and any other agreement between the Funds and
American Express Financial Corporation exceed 1.35% for IDS
Emerging Markets, 1.50% for IDS Global Balanced or 1.35% for IDS
Innovations, that Fund shall not pay fees or expenses under this
agreement to the extent necessary to keep the expense ratio from
exceeding the limitation. In any month that fees and expenses of
Class A Shares exceed the limitation all fees and expenses in
excess of that limit will be returned to the respective Fund. Any
fee waiver or elimination of expenses will apply to each class on a
pro rata basis.

Part Four: MISCELLANEOUS

(1) American Express Financial Corporation shall be deemed to be an
independent contractor and, except as expressly provided or
authorized in this agreement, shall have no authority to act for or
represent the Corporation.

(2) A "full business day" shall be as defined in the By-laws of the
Corporation.

(3) The Corporation recognizes that American Express Financial
Corporation now renders and may continue to render investment
advice and other services to other investment companies and persons
which may or may not have investment policies and investments
similar to those of the Funds and that American Express Financial
Corporation manages its own investments and/or those of its
subsidiaries. American Express Financial Corporation shall be free
to render such investment advice and other services and the
Corporation hereby consents thereto.

(4) Neither this agreement nor any transaction had pursuant hereto
shall be invalidated or in anyway affected by the fact that
directors, officers, agents and/or shareholders of the Corporation
are or may be interested in American Express Financial Corporation
or any successor or assignee thereof, as directors, officers,
stockholders or otherwise; that directors, officers, stockholders
or agents of American Express Financial Corporation are or may be
interested in the Corporation as directors, officers, shareholders,
or otherwise; or that American Express Financial Corporation or any
successor or assignee, is or may be interested in the Corporation
as shareholder or otherwise, provided, however, that neither
American Express Financial Corporation, nor any officer, director
or employee thereof or of the Corporation, shall sell to or buy
from the Corporation any property or security other than shares
issued by the Corporation, except in accordance with applicable
regulations or orders of the United States Securities and Exchange
Commission.

(6) American Express Financial Corporation agrees that no officer,
director or employee of American Express Financial Corporation will
deal for or on behalf of the Corporation with himself or herself as<PAGE>
PAGE 5
principal or agent, or with any corporation or partnership in which
he or she may have a financial interest, except that this shall not
prohibit officers, directors or employees of American Express
Financial Corporation from having a financial interest in the
Corporation or in American Express Financial Corporation.

(7) The Corporation agrees that American Express Financial
Corporation may subcontract for certain of the services described
under this agreement with the understanding that there shall be no
diminution in the quality or level of the services and that
American Express Financial Corporation remains fully responsible
for the services.

(8) This agreement shall extend to and shall be binding upon the
parties hereto, and their respective successors and assigns;
provided, however, that this agreement shall not be assignable
without the written consent of the other party. This agreement
shall be governed by the laws of the State of Minnesota.

Part Five: RENEWAL AND TERMINATION

(1) This agreement shall become effective on the date first set
forth above and shall continue in effect from year to year
thereafter as the parties may mutually agree; provided that either
party may terminate this agreement by giving the other party notice
in writing specifying the date of such termination, which shall be
not less than 60 days after the date of receipt of such notice.

(2) This agreement may not be amended or modified in any manner
except by a written agreement executed by both parties.

IN WITNESS THEREOF, the parties hereto have executed the foregoing
agreement as of the day and year first above written.

IDS GLOBAL SERIES, INC.
IDS Emerging Markets Fund
IDS Global Balanced Fund
IDS Innovations Fund

By: /s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL CORPORATION

By: /s/ Michael J. Hogan
Michael J. Hogan
Vice President

<PAGE>
PAGE 1
EMERGING MARKETS PORTFOLIO
AGREEMENT AND DECLARATION OF UNITHOLDERS

This AGREEMENT AND DECLARATION OF UNITHOLDERS is made at
Minneapolis, Minnesota, as of this 13th day of November, 1996 by
the holders of beneficial interest of Emerging Markets Portfolio, a
separate series of World Trust.

WHEREAS, the Declaration of Trust for World Trust provides
for no restrictions on the transfer of units therein; and

WHEREAS, the holders of units in Emerging Markets Portfolio
desire to restrict the transfer of their units in Emerging Markets
Portfolio;

NOW, THEREFORE, the undersigned hereby declare that they will
not transfer any units in Emerging Markets Portfolio held by them
without the prior written consent of the other unitholders holding
at least two thirds of the Emerging Markets Portfolio's units
outstanding (excluding the units of the holder seeking to effect
the transfer) and that any attempted transfer in violation of this
agreement shall be null and void. This agreement shall not affect
the rights of any unitholder to redeem units in Emerging Markets
Portfolio as provided for in the Declaration of Trust. The
undersigned also acknowledge that the remedy of damages for the
violation of this agreement would be inadequate and therefore
further agree that this agreement shall be enforceable solely by
the remedy of specific performance.

IDS GLOBAL SERIES, INC.
IDS Emerging Markets Fund

/s/ Leslie L. Ogg
Leslie L. Ogg
Vice President and General Counsel

STRATEGIST WORLD FUND, INC.
Strategist Emerging Markets Fund

/s/ James A. Mitchell
James A. Mitchell
President

<PAGE>
PAGE 1
WORLD TECHNOLOGIES PORTFOLIO
AGREEMENT AND DECLARATION OF UNITHOLDERS

This AGREEMENT AND DECLARATION OF UNITHOLDERS is made at
Minneapolis, Minnesota, as of this 13th day of November, 1996 by
the holders of beneficial interest of World Technologies Portfolio,
a separate series of World Trust.

WHEREAS, the Declaration of Trust for World Trust provides
for no restrictions on the transfer of units therein; and

WHEREAS, the holders of units in World Technologies
Portfolio desire to restrict the transfer of their units in World
Technologies Portfolio;

NOW, THEREFORE, the undersigned hereby declare that they will
not transfer any units in World Technologies Portfolio held by them
without the prior written consent of the other unitholders holding
at least two thirds of the World Technologies Portfolio's units
outstanding (excluding the units of the holder seeking to effect
the transfer) and that any attempted transfer in violation of this
agreement shall be null and void. This agreement shall not affect
the rights of any unitholder to redeem units in World Technologies
Portfolio as provided for in the Declaration of Trust. The
undersigned also acknowledge that the remedy of damages for the
violation of this agreement would be inadequate and therefore
further agree that this agreement shall be enforceable solely by
the remedy of specific performance.

IDS GLOBAL SERIES, INC.
IDS Innovations Fund

/s/ Leslie L. Ogg
Leslie L. Ogg
Vice President and General Counsel

STRATEGIST WORLD FUND, INC.
Strategist World Technologies Fund

/s/ James A. Mitchell
James A. Mitchell
President

<PAGE>
PAGE 1
WORLD INCOME PORTFOLIO

AGREEMENT AND DECLARATION OF UNITHOLDERS

This AGREEMENT AND DECLARATION OF UNITHOLDERS is made at
Minneapolis, Minnesota, as of this 13th day of May, 1996 by the
holders of beneficial interest of World Income Portfolio, a
separate series of World Trust.

WITNESS that

WHEREAS, the Declaration of Trust for World Trust provides for no
restrictions on the transfer of units therein; and

WHEREAS, the holders of units in World Income Portfolio desire to
restrict the transfer of their units in World Income Portfolio;

NOW, THEREFORE, the undersigned hereby declare that they will not
transfer any units in World Income Portfolio held by them without
the prior written consent of the other unitholders holding at least
two thirds of the World Income Portfolio's units outstanding
(excluding the units of the holder seeking to effect the transfer)
and that any attempted transfer in violation of this agreement
shall be null and void. This agreement shall not affect the rights
of any unitholder to redeem units in World Income Portfolio as
provided for in the Declaration of Trust. The undersigned also
acknowledge that the remedy of damages for the violation of this
agreement would be inadequate and therefore further agree that this
agreement shall be enforceable solely by the remedy of specific
performance.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund

/s/ Leslie L. Ogg
Leslie L. Ogg
Vice President and General Counsel

STRATEGIST WORLD FUND, INC.
Strategist World Income Fund

/s/ James A. Mitchell
James A. Mitchell
President

<PAGE>
PAGE 1
WORLD GROWTH PORTFOLIO

AGREEMENT AND DECLARATION OF UNITHOLDERS

This AGREEMENT AND DECLARATION OF UNITHOLDERS is made at
Minneapolis, Minnesota, as of this 13th day of May, 1996 by the
holders of beneficial interest of World Growth Portfolio, a
separate series of World Trust.

WITNESS that

WHEREAS, the Declaration of Trust for World Trust provides
for no restrictions on the transfer of units therein; and

WHEREAS, the holders of units in World Growth Portfolio
desire to restrict the transfer of their units in World Growth
Portfolio;

NOW, THEREFORE, the undersigned hereby declare that they will
not transfer any units in World Growth Portfolio held by them
without the prior written consent of the other unitholders holding
at least two thirds of the World Growth Portfolio's units
outstanding (excluding the units of the holder seeking to effect
the transfer) and that any attempted transfer in violation of this
agreement shall be null and void. This agreement shall not affect
the rights of any unitholder to redeem units in World Growth
Portfolio as provided for in the Declaration of Trust. The
undersigned also acknowledge that the remedy of damages for the
violation of this agreement would be inadequate and therefore
further agree that this agreement shall be enforceable solely by
the remedy of specific performance.

IDS GLOBAL SERIES, INC.
IDS Global Growth Fund

/s/ Leslie L. Ogg
Leslie L. Ogg
Vice President and
General Counsel

STRATEGIST WORLD FUND, INC.
Strategist World Growth Fund

/s/ James A. Mitchell
James A. Mitchell
President

<PAGE>
PAGE 1

Independent auditors' consent
___________________________________________________________________
The Board and Shareholders
IDS Global Series, Inc.:

We consent to the use of our reports incorporated herein by
reference and to the references to our Firm under the headings
"Financial highlights" in Part A and "INDEPENDENT AUDITORS" in Part
B of the Registration Statement.

KPMG Peat Marwick LLP

Minneapolis, Minnesota
December 20, 1996

<PAGE>
PAGE 1
Plan and Agreement of Distribution

This plan and agreement is between IDS Global Series, Inc. (the
"Corporation") on behalf of its underlying series funds and
American Express Financial Advisors Inc., the principal underwriter
of the Corporation, for distribution services to the Corporation.
It is effective on the first day the Corporation offers multiple
classes of shares.

The plan and agreement has been approved by members of the Board of
Directors (the "Board") of the Corporation who are not interested
persons of the Corporation and have no direct or indirect financial
interest in the operation of the plan or any related agreement, and
all of the members of the Board, in person, at a meeting called for
the purpose of voting on the plan and agreement.

The plan and agreement provides that:

1. The Corporation will reimburse American Express Financial
Advisors for all sales and promotional expenses attributable to the
sale of Class B shares, including sales commissions, business and
employee expenses charged to distribution of Class B shares, and
corporate overhead appropriately allocated to the sale of Class B
shares.

2. The amount of the reimbursement shall be equal on an annual
basis to 0.75% of the average daily net assets of the Corporation
attributable to Class B shares. The amount so determined shall be
paid to American Express Financial Advisors in cash within five (5)
business days after the last day of each month. American Express
Financial Advisors agrees that if, at the end of any month, the
expenses of the Corporation, including fees under this agreement
and any other agreement between the Corporation and American
Express Financial Advisors or American Express Financial
Corporation, but excluding taxes, brokerage commissions and charges
in connection with the purchase and sale of assets exceed the most
restrictive applicable state expense limitation for the
Corporation's current fiscal year, the Corporation shall not pay
fees and expenses under this agreement to the extent necessary to
keep the Corporation's expenses from exceeding the limitation, it
being understood that American Express Financial Advisors will
assume all unpaid expenses and bill the Corporation for them in
subsequent months, but in no event can the accumulation of unpaid
expenses or billing be carried past the end of the Corporation's
fiscal year.

3. For each purchase of Class B shares, after eight years the
Class B shares will be converted to Class A shares and those assets
will no longer be included in determining the reimbursement amount.

4. The Corporation understands that if a shareholder redeems
Class B shares before they are converted to Class A shares,
American Express Financial Advisors will impose a sales charge
directly on the redemption proceeds to cover those expenses it has
previously incurred on the sale of those shares.
<PAGE>
PAGE 2
5. American Express Financial Advisors agrees to provide at
least quarterly an analysis of distribution expenses and to meet
with representatives of the Corporation as reasonably requested to
provide additional information.

6. The plan and agreement shall continue in effect for a period
of more than one year provided it is reapproved at least annually
in the same manner in which it was initially approved.

7. The plan and agreement may not be amended to increase
materially the amount that may be paid by the Corporation without
the approval of a least a majority of the outstanding shares of
Class B. Any other amendment must be approved in the manner in
which the plan and agreement was initially approved.

8. This agreement may be terminated at any time without payment
of any penalty by a vote of a majority of the members of the Board
who are not interested persons of the Corporation and have no
financial interest in the operation of the plan and agreement, or
by vote of a majority of the outstanding Class B shares, or by
American Express Financial Advisors. The plan and agreement will
terminate automatically in the event of its assignment as that term
is defined in the Investment Company Act of 1940.

Approved this 20th day of March, 1995.

IDS GLOBAL SERIES, INC.
IDS Global Bond Fund
IDS Global Growth Fund

/s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL ADVISORS INC.

/s/ Janis E. Miller
Janis E. Miller
Vice President

<PAGE>
PAGE 1
Plan and Agreement of Distribution

This plan and agreement is between IDS Global Series, Inc. (the
"Corporation") on behalf of its underlying series funds: IDS
Emerging Markets Fund, IDS Global Balanced Fund and IDS Innovations
Fund (individually a "Fund" and collectively the "Funds"); and
American Express Financial Advisors Inc., the principal underwriter
of the Corporation, for distribution services to the Funds.

The plan and agreement provides that:

1. The Corporation, on behalf of the Funds, will reimburse
American Express Financial Advisors Inc. for all sales and
promotional expenses attributable to the sale of the Funds'
respective Class B Common Stock, par value $0.01 per share (each
referred to as the "Class B Shares"), including sales commissions,
business and employee expenses charged to distribution of each
Funds' Class B Shares, and corporate overhead appropriately
allocated to the sale of each Funds' Class B Shares.

2. The amount of the reimbursement shall be equal on an annual
basis to 0.75% of the average daily net assets of the respective
Fund attributable to Class B Shares. The amount so determined
shall be paid to American Express Financial Advisors Inc. in cash
within five (5) business days after the last day of each month.
American Express Financial Advisors Inc. agrees that if, at the end
of any month, the expenses of any Fund, including fees under this
agreement and any other agreement between that Fund and American
Express Financial Advisors Inc. or American Express Financial
Corporation, but excluding taxes, brokerage commissions and charges
in connection with the purchase and sale of assets exceed the most
restrictive applicable state expense limitation for that Fund's
current fiscal year, that Fund shall not pay fees and expenses
under this agreement to the extent necessary to keep the Fund's
expenses from exceeding the limitation, it being understood that
American Express Financial Advisors Inc. will assume all unpaid
expenses and bill the Fund for them in subsequent months, but in no
event can the accumulation of unpaid expenses or billing be
carried past the end of the Fund's fiscal year.

3. For each purchase of Class B Shares, after eight years the
Class B Shares will be converted to Class A Common Stock, $0.01 par
value (the "Class A Shares") of the respective Fund and those
assets will no longer be included in determining the reimbursement
amount.

4. The Corporation understands that if a shareholder redeems a
Fund's Class B Shares before they are converted to Class A Shares,
American Express Financial Advisors Inc. will impose a sales charge
directly on the redemption proceeds to cover those expenses it has
previously incurred on the sale of those shares.<PAGE>
PAGE 2
5. American Express Financial Advisors Inc. agrees to provide at
least quarterly an analysis of distribution expenses and to meet
with representatives of the Corporation as reasonably requested to
provide additional information.

6. The plan and agreement shall continue in effect for a period
of more than one year provided it is reapproved at least annually
in the same manner in which it was initially approved.

7. The plan and agreement may not be amended to increase
materially the amount that may be paid by the Funds without the
approval of a least a majority of the respective Fund's outstanding
Class B Shares. Any other amendment must be approved in the manner
in which the plan and agreement was initially approved.

8. This agreement may be terminated (as to one or more of the
Funds) at any time without payment of any penalty by a vote of a
majority of the members of the Board who are not interested persons
of the Corporation and have no financial interest in the operation
of the plan and agreement, or, as to each Fund, by vote of a
majority of that Fund's outstanding Class B Shares, or by American
Express Financial Advisors Inc. The plan and agreement will
terminate automatically in the event of its assignment as that term
is defined in the Investment Company Act of 1940.

Approved this 13th day of November, 1996.

IDS GLOBAL SERIES, INC.
IDS Emerging Markets Fund
IDS Global Balanced Fund
IDS Innovations Fund

/s/ Leslie L. Ogg
Leslie L. Ogg
Vice President

AMERICAN EXPRESS FINANCIAL ADVISORS INC.

/s/ Michael J. Hogan
Michael J. Hogan
Vice President

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<PAGE>
PAGE 1
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> IDS GLOBAL BOND FUND CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> OCT-31-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 834162239
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 834162239
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4136611
<TOTAL-LIABILITIES> 4136611
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 688859964
<SHARES-COMMON-STOCK> 109655876
<SHARES-COMMON-PRIOR> 89717714
<ACCUMULATED-NII-CURRENT> 1555721
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5756351
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26763036
<NET-ASSETS> 830025628
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 49016925
<OTHER-INCOME> 0
<EXPENSES-NET> 9186190
<NET-INVESTMENT-INCOME> 39830735
<REALIZED-GAINS-CURRENT> 9580953
<APPREC-INCREASE-CURRENT> 13072038
<NET-CHANGE-FROM-OPS> 62483726
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (36187518)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 28365320
<NUMBER-OF-SHARES-REDEEMED> (24752357)
<SHARES-REINVESTED> 5162365
<NET-CHANGE-IN-ASSETS> 242561579
<ACCUMULATED-NII-PRIOR> 30591389
<ACCUMULATED-GAINS-PRIOR> 1677365
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2559964
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9191855
<AVERAGE-NET-ASSETS> 618826416
<PER-SHARE-NAV-BEGIN> 6.11
<PER-SHARE-NII> .38
<PER-SHARE-GAIN-APPREC> .18
<PER-SHARE-DIVIDEND> (.39)
<PER-SHARE-DISTRIBUTIONS> 0<PAGE>
PAGE 2
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.28
<EXPENSE-RATIO> 1.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<PAGE>
PAGE 3
<ARTICLE> 6
<SERIES>
[NUMBER] 6
<NAME> IDS GLOBAL BOND FUND CLASS B
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> OCT-31-1996
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 0
[RECEIVABLES] 0
[ASSETS-OTHER] 834162239
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 834162239
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4136611
[TOTAL-LIABILITIES] 4136611
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 688859964
[SHARES-COMMON-STOCK] 109655876
[SHARES-COMMON-PRIOR] 89717714
[ACCUMULATED-NII-CURRENT] 1555721
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 5756351
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 26763036
[NET-ASSETS] 141164599
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 49016925
[OTHER-INCOME] 0
[EXPENSES-NET] 9186190
[NET-INVESTMENT-INCOME] 39830735
[REALIZED-GAINS-CURRENT] 9580953
[APPREC-INCREASE-CURRENT] 13072038
[NET-CHANGE-FROM-OPS] 62483726
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (4293355)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 6075865
[NUMBER-OF-SHARES-REDEEMED] (94515)
[SHARES-REINVESTED] 77021
[NET-CHANGE-IN-ASSETS] 242561579
[ACCUMULATED-NII-PRIOR] 30591389
[ACCUMULATED-GAINS-PRIOR] 1677365
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2559964
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 9191855
[AVERAGE-NET-ASSETS] 87383806
[PER-SHARE-NAV-BEGIN] 6.11
[PER-SHARE-NII] .33
[PER-SHARE-GAIN-APPREC] .18
[PER-SHARE-DIVIDEND] (.33)
[PER-SHARE-DISTRIBUTIONS] 0<PAGE>
PAGE 4
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 6.28
[EXPENSE-RATIO] 1.96
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<PAGE>
PAGE 5
<ARTICLE> 6
<SERIES>
[NUMBER] 6
<NAME> IDS GLOBAL BOND FUND CLASS Y
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> OCT-31-1996
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 0
[RECEIVABLES] 0
[ASSETS-OTHER] 834162239
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 834162239
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4136611
[TOTAL-LIABILITIES] 4136611
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 688859964
[SHARES-COMMON-STOCK] 109655876
[SHARES-COMMON-PRIOR] 89717714
[ACCUMULATED-NII-CURRENT] 1555721
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 5756351
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 26763036
[NET-ASSETS] 1065
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 49016925
[OTHER-INCOME] 0
[EXPENSES-NET] 9186190
[NET-INVESTMENT-INCOME] 39830735
[REALIZED-GAINS-CURRENT] 9580953
[APPREC-INCREASE-CURRENT] 13072038
[NET-CHANGE-FROM-OPS] 62483726
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (8652)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 328333
[NUMBER-OF-SHARES-REDEEMED] (4)
[SHARES-REINVESTED] 10547
[NET-CHANGE-IN-ASSETS] 242561579
[ACCUMULATED-NII-PRIOR] 30591389
[ACCUMULATED-GAINS-PRIOR] 1677365
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2559964
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 9191855
[AVERAGE-NET-ASSETS] 119938
[PER-SHARE-NAV-BEGIN] 6.11
[PER-SHARE-NII] .29
[PER-SHARE-GAIN-APPREC] .20
[PER-SHARE-DIVIDEND] (.30)
[PER-SHARE-DISTRIBUTIONS] 0<PAGE>
PAGE 6
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 6.30
[EXPENSE-RATIO] 1.01
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<PAGE>
PAGE 7
<ARTICLE> 6
<NAME> WORLD INCOME PORTFOLIO
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> MAY-13-1996
<PERIOD-END> OCT-31-1996
[INVESTMENTS-AT-COST] 824611845
[INVESTMENTS-AT-VALUE] 852834156
[RECEIVABLES] 22268561
[ASSETS-OTHER] 269905
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 875372622
[PAYABLE-FOR-SECURITIES] 23027891
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 17618760
[TOTAL-LIABILITIES] 40646651
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 0
[SHARES-COMMON-STOCK] 0
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 834725971
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 25750380
[OTHER-INCOME] 0
[EXPENSES-NET] 2807217
[NET-INVESTMENT-INCOME] 22643163
[REALIZED-GAINS-CURRENT] 3494043
[APPREC-INCREASE-CURRENT] 26719744
[NET-CHANGE-FROM-OPS] 52856980
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 834675971
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 2730146
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2807217
[AVERAGE-NET-ASSETS] 708897720
[PER-SHARE-NAV-BEGIN] 0
[PER-SHARE-NII] 0
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0<PAGE>
PAGE 8
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 0
[EXPENSE-RATIO] 0
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<PAGE>
PAGE 9
<ARTICLE> 6
<SERIES>
[NUMBER] 6
<NAME> IDS GLOBAL GROWTH FUND CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> OCT-31-1996
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 0
[RECEIVABLES] 0
[ASSETS-OTHER] 1072890855
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1072890855
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 163170
[TOTAL-LIABILITIES] 163170
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 970335425
[SHARES-COMMON-STOCK] 127509067
[SHARES-COMMON-PRIOR] 103455734
[ACCUMULATED-NII-CURRENT] 33314486
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 63512321
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 5565453
[NET-ASSETS] 907920993
[DIVIDEND-INCOME] 13514043
[INTEREST-INCOME] 12176207
[OTHER-INCOME] 0
[EXPENSES-NET] 12887503
[NET-INVESTMENT-INCOME] 12802747
[REALIZED-GAINS-CURRENT] 83713244
[APPREC-INCREASE-CURRENT] 4273988
[NET-CHANGE-FROM-OPS] 100789979
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (13274302)
[DISTRIBUTIONS-OF-GAINS] (3145261)
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 88252347
[NUMBER-OF-SHARES-REDEEMED] (66749101)
[SHARES-REINVESTED] 2550087
[NET-CHANGE-IN-ASSETS] 368964149
[ACCUMULATED-NII-PRIOR] 10845781
[ACCUMULATED-GAINS-PRIOR] 2037383
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3179851
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 12891947
[AVERAGE-NET-ASSETS] 802656664
[PER-SHARE-NAV-BEGIN] 6.37
[PER-SHARE-NII] .08
[PER-SHARE-GAIN-APPREC] .83
[PER-SHARE-DIVIDEND] (.13)
[PER-SHARE-DISTRIBUTIONS] (.03)<PAGE>
PAGE 10
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 7.12
[EXPENSE-RATIO] 1.37
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<PAGE>
PAGE 11
<ARTICLE> 6
<SERIES>
[NUMBER] 6
<NAME> IDS GLOBAL GROWTH FUND CLASS B
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> OCT-31-1996
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 0
[RECEIVABLES] 0
[ASSETS-OTHER] 1072890855
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1072890855
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 163170
[TOTAL-LIABILITIES] 163170
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 970335425
[SHARES-COMMON-STOCK] 20676816
[SHARES-COMMON-PRIOR] 3341575
[ACCUMULATED-NII-CURRENT] 33314486
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 63512321
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 5565453
[NET-ASSETS] 145694334
[DIVIDEND-INCOME] 13514043
[INTEREST-INCOME] 12176207
[OTHER-INCOME] 0
[EXPENSES-NET] 12887503
[NET-INVESTMENT-INCOME] 12802747
[REALIZED-GAINS-CURRENT] 83713244
[APPREC-INCREASE-CURRENT] 4273988
[NET-CHANGE-FROM-OPS] 100789979
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (512136)
[DISTRIBUTIONS-OF-GAINS] (134517)
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 18190526
[NUMBER-OF-SHARES-REDEEMED] (956204)
[SHARES-REINVESTED] 100919
[NET-CHANGE-IN-ASSETS] 368964149
[ACCUMULATED-NII-PRIOR] 10845781
[ACCUMULATED-GAINS-PRIOR] 2037383
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3179851
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 12891947
[AVERAGE-NET-ASSETS] 76687146
[PER-SHARE-NAV-BEGIN] 6.34
[PER-SHARE-NII] .05
[PER-SHARE-GAIN-APPREC] .81
[PER-SHARE-DIVIDEND] (.12)
[PER-SHARE-DISTRIBUTIONS] (.03)
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 7.05
<PAGE>
PAGE 12
[EXPENSE-RATIO] 2.14
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<PAGE>
PAGE 13
<ARTICLE> 6
<SERIES>
[NUMBER] 6
<NAME> IDS GLOBAL GROWTH FUND CLASS Y
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> OCT-31-1996
[INVESTMENTS-AT-COST] 0
[INVESTMENTS-AT-VALUE] 0
[RECEIVABLES] 0
[ASSETS-OTHER] 1072890855
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1072890855
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 163170
[TOTAL-LIABILITIES] 163170
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 970335425
[SHARES-COMMON-STOCK] 2680271
[SHARES-COMMON-PRIOR] 3684897
[ACCUMULATED-NII-CURRENT] 33314486
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 63512321
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 5565453
[NET-ASSETS] 19112358
[DIVIDEND-INCOME] 13514043
[INTEREST-INCOME] 12176207
[OTHER-INCOME] 0
[EXPENSES-NET] 12887503
[NET-INVESTMENT-INCOME] 12802747
[REALIZED-GAINS-CURRENT] 83713244
[APPREC-INCREASE-CURRENT] 4273988
[NET-CHANGE-FROM-OPS] 100789979
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (423874)
[DISTRIBUTIONS-OF-GAINS] (93987)
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2116472
[NUMBER-OF-SHARES-REDEEMED] (3202166)
[SHARES-REINVESTED] 81068
[NET-CHANGE-IN-ASSETS] 368964149
[ACCUMULATED-NII-PRIOR] 10845781
[ACCUMULATED-GAINS-PRIOR] 2037383
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3179851
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 12891947
[AVERAGE-NET-ASSETS] 18637715
[PER-SHARE-NAV-BEGIN] 6.38
[PER-SHARE-NII] .09
[PER-SHARE-GAIN-APPREC] .83
[PER-SHARE-DIVIDEND] (.14)
[PER-SHARE-DISTRIBUTIONS] (.03)<PAGE>
PAGE 14
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 7.13
[EXPENSE-RATIO] 1.19
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<PAGE>
PAGE 15
<ARTICLE> 6
<NAME> WORLD GROWTH PORTFOLIO
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> MAY-13-1996
<PERIOD-END> OCT-31-1996
[INVESTMENTS-AT-COST] 1108077678
[INVESTMENTS-AT-VALUE] 1113632794
[RECEIVABLES] 16217311
[ASSETS-OTHER] 25377381
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1155227486
[PAYABLE-FOR-SECURITIES] 14276190
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 67547406
[TOTAL-LIABILITIES] 81823596
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 0
[SHARES-COMMON-STOCK] 0
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 1073403890
[DIVIDEND-INCOME] 9407363
[INTEREST-INCOME] 7008819
[OTHER-INCOME] 0
[EXPENSES-NET] 4232536
[NET-INVESTMENT-INCOME] 12183646
[REALIZED-GAINS-CURRENT] 27471267
[APPREC-INCREASE-CURRENT] (63955989)
[NET-CHANGE-FROM-OPS] (24301076)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 1073353890
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3704753
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 4232536
[AVERAGE-NET-ASSETS] 1018937527
[PER-SHARE-NAV-BEGIN] 0
[PER-SHARE-NII] 0
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
<PAGE>
PAGE 16
[PER-SHARE-NAV-END] 0
[EXPENSE-RATIO] 0
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0

</TABLE>

<PAGE>
PAGE 1
TRUSTEES POWER OF ATTORNEY

City of Minneapolis

State of Minnesota

Each of the undersigned, as trustees of the below listed
open-end, diversified investment companies that previously have
filed registration statements and amendments thereto pursuant to
the requirements of the Investment Company Act of 1940 with the
Securities and Exchange Commission:

Growth Trust
Growth and Income Trust
Income Trust
Tax-Free Income Trust
World Trust

hereby constitutes and appoints William R. Pearce and Leslie L. Ogg
or either one of them, as her or his attorney-in-fact and agent, to
sign for her or him in her or his name, place and stead any and all
further amendments to said registration statements filed pursuant
to said Act and any rules and regulations thereunder, and to file
such amendments with all exhibits thereto and other documents in
connection therewith with the Securities and Exchange Commission,
granting to either of them the full power and authority to do and
perform each and every act required and necessary to be done in
connection therewith.

Dated the 11th day of April, 1996.

/s/ Lynne V. Cheney /s/ Melvin R. Laird
Lynne V. Cheney Melvin R. Laird

/s/ William H. Dudley /s/ William R. Pearce
William H. Dudley William R. Pearce

/s/ Robert F. Froehlke
Robert F. Froehlke Edson W. Spencer

/s/ David R. Hubers /s/ John R. Thomas
David R. Hubers John R. Thomas

/s/ Heinz F. Hutter
Heinz F. Hutter Wheelock Whitney

/s/ Anne P. Jones /s/ C. Angus Wurtele
Anne P. Jones C. Angus Wurtele

<PAGE>
PAGE 1
OFFICERS' POWER OF ATTORNEY

City of Minneapolis

State of Minnesota

Each of the undersigned, as officers of the below listed
open-end, diversified investment companies that previously have
filed registration statements and amendments thereto pursuant to
the requirements of the Investment Company Act of 1940 with the
Securities and Exchange Commission:

Growth Trust
Growth and Income Trust
Income Trust
Tax-Free Income Trust
World Trust

hereby constitutes and appoints William R. Pearce and Leslie L. Ogg
or either one of them, as her or his attorney-in-fact and agent, to
sign for her or him in her or his name, place and stead, as an
officer, any and all further amendments to said registration
statements filed pursuant to said Act and any rules and regulations
thereunder, and to file such amendments with all exhibits thereto
and other documents in connection therewith with the Securities and
Exchange Commission, granting to either of them the full power and
authority to do and perform each and every act required and
necessary to be done in connection therewith.

Dated the 11th day of April, 1996.

/s/ William R. Pearce
William R. Pearce

/s/ Melinda S. Urion
Melinda S. Urion