A Special Meeting of the Shareholders of the BB&T Funds
the "Trust") was held on June 28, 2000.
Proposal #1 was to approve the new Investment Sub-Advisory
Agreement between Branch Banking and Trust Company ("BB&T")
and Federated Investment Management Company ("Federated")
with respect to the Fund. This proposal was approved with
67,407,749 votes for, 0 votes against, and 791 votes
abstained.
Proposal #2 was to approve the amendment of the Fund's
industry concentration policy. This proposal was approved
with 67,407,749 votes for, 0 votes against, and 791 votes
abstained.
