Exhibit e(iii) under Form N-1A
Exhibit 1 under Item 601/Reg. S-K
Exhibit E
to the
Distributor's Contract
SOUTHTRUST FUNDS
SOUTHTRUST GROWTH FUND
The following provisions are hereby incorporated and made part of the
Distributor's Contract dated the 2nd day of April, 1993, between SouthTrust
Vulcan Funds and Federated Securities Corp. with respect to Portfolio set forth
above.
1. The Trust hereby appoints FSC to engage in activities principally intended to
result in the sale of shares of the above-listed Portfolio ("Shares"). Pursuant
to this appointment, FSC is authorized to select a group of brokers ("Brokers")
to sell Shares at the current offering price thereof as described and set forth
in the respective prospectuses of the Trust, and to render administrative
support services to the Trust and its shareholders. In addition, FSC is
authorized to select a group of administrators ("Administrators") to render
administrative support services to the Trust and its shareholders.
2. Administrative support services may include, but are not limited to, the
following functions: 1) account openings: the Broker or Administrator
communicates account openings via computer terminals located on the Broker's or
Administrator's premises; 2) account closings: the Broker or Administrator
communicates account closings via computer terminals; 3) enter purchase
transactions: purchase transactions are entered through the Broker's or
Administrator's own personal computer or through the use of a toll-free
telephone number; 4) enter redemption transactions: Broker or Administrator
enters redemption transactions in the same manner as purchases; 5) account
maintenance: Broker or Administrator provides or arranges to provide accounting
support for all transactions. Broker or Administrator also wires funds and
receives funds for Trust share purchases and redemptions, confirms and
reconciles all transactions, reviews the activity in the Trust's accounts, and
provides training and supervision of its personnel; 6) interest posting: Broker
or Administrator posts and reinvests dividends to the Trust's accounts; 7)
prospectus and shareholder reports: Broker or Administrator maintains and
distributes current copies of prospectuses and shareholder reports; 8)
advertisements: the Broker or Administrator continuously advertises the
availability of its services and products; 9) customer lists: the Broker or
Administrator continuously provides names of potential customers; 10) design
services: the Broker or Administrator continuously designs material to send to
customers and develops methods of making such materials accessible to customers;
and 11) consultation services: the Broker or Administrator continuously provides
information about the product needs of customers.
3. During the term of this Agreement, the Trust will pay FSC for services
pursuant to this Agreement, a monthly fee computed at the annual rate of .25 of
1% of the average aggregate net asset value of the shares of the SouthTrust
Growth Fund held during the month. For the month in which this Agreement becomes
effective or terminates, there shall be an appropriate proration of any fee
payable on the basis of the number of days that the Agreement is in effect
during the month.
4. FSC may from time-to-time and for such periods as it deems appropriate
reduce its compensation to the extent the Portfolio's expenses exceed such lower
expense limitation as FSC may, by notice to the Trust voluntarily declare to be
effective.
5. FSC will enter into separate written agreements with various firms to
provide certain of the services set forth in Paragraph 1 herein. FSC, in its
sole discretion, may pay Brokers and Administrators a periodic fee in respect of
Shares owned from time to time by their clients or customers. The schedules of
such fees and the basis upon which such fees will be paid shall be determined
from time to time by FSC in its sole discretion.
6. FSC will prepare reports to the Board of Trustees of the Trust on a
quarterly basis showing amounts expended hereunder including amounts paid to
Brokers and Administrators and the purpose for such payments.
In consideration of the mutual covenants set forth in the Distributor's
Contract dated April 2, 1993 between SouthTrust Vulcan Funds and Federated
Securities Corp., SouthTrust Vulcan Funds executes and delivers this Exhibit on
behalf of and with respect to the Portfolio thereof, first set forth in this
Exhibit.
Witness the due execution hereof this 1st day of August, 1999.
SOUTHTRUST FUNDS
By: /S/ BETH S. BRODERICK
---------------------------------
Name: Beth S. Broderick
Title: Vice President
FEDERATED SECURITIES CORP.
By: /S/ DAVID M. TAYLOR
---------------------------------
Name: David M. Taylor
Title: Executive Vice President
