<PAGE>
EXHIBIT 16
INVESTMENT TRUST
POWERS OF ATTORNEY
Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed below by the following persons in the capacities and
on the dates indicated. By so signing, the undersigned in his/her capacity as
trustee or officer, or both, as the case may be, of the Registrant, does hereby
appoint Sheldon A. Jones, Joseph R. Fleming, Allison R. Beakley, Caroline
Pearson and John Millette and each of them, severally, his/her true and lawful
attorney and agent to execute in his/her name, place and stead (in such
capacity) any and all amendments to the Registration Statement and any
post-effective amendments thereto and all instruments necessary or desirable in
connection therewith, to attest the seal of the Registrant thereon and to file
the same with the Securities and Exchange Commission. Each of said attorneys and
agents shall have power to act with or without the other and have full power and
authority to do and perform in the name and on behalf of the undersigned, in any
and all capacities, every act whatsoever necessary or advisable to be done in
the premises as fully and to all intents and the purposes as the undersigned
might or could do in person, hereby ratifying and approving the act of said
attorneys and agents and each of them.
<TABLE>
<CAPTION>
Signature Title Date
--------- ----- ----
<S> <C> <C>
/s/ Linda C. Coughlin Trustee and President November 14, 2000
-------------------------------
Linda C. Coughlin
/s/ Henry P. Becton, Jr. Trustee November 14, 2000
-------------------------------
Henry P. Becton, Jr.
/s/ Dawn-Marie Driscoll Trustee November 14, 2000
-------------------------------
Dawn-Marie Driscoll
/s/ Edgar R. Fiedler Trustee November 14, 2000
-------------------------------
Edgar R. Fiedler
/s/ Keith R. Fox Trustee November 14, 2000
-------------------------------
Keith R. Fox
/s/ Joan Edelman Spero Trustee November 14, 2000
-------------------------------
Joan Edelman Spero
/s/ Jean Gleason Stromberg Trustee November 14, 2000
-------------------------------
Jean Gleason Stromberg
/s/ Jean C. Tempel Trustee November 14, 2000
-------------------------------
Jean C. Tempel
/s/ Steven Zaleznick Trustee November 14, 2000
-------------------------------
Steven Zaleznick
</TABLE>
