Exhibit (g) MASTER CUSTODIAN AGREEMENT  This Agreement is made as of March 22, 2007, between EACH REGISTERED INVESTMENT COMPANY IDENTIFIED ON APPENDIX A HERETO (each such registered investment company, and each registered investment company made subject to this Agreement in accordance with Section 18 below, referred to as the Fund), andSTATE STREET BANKandTRUST COMPANY, a Massachusetts trust company (the Custodian),  WITNESSETH:  WHEREAS, the Funds are registered under the Investment Company Act of 1940 ("the1940 Act") and each Fund has appointed the Custodian to act as its custodian;  WHEREAS, each Fund may or may not be authorized to issue shares of common stock or shares of beneficial interest in separate series, with each such series representing interests in a separate portfolio of securities and other assets;  WHEREAS, each Fund so authorized so intends that this Agreement be applicable to each of its series set forth on Appendix A hereto (such series together with all other series subsequently established by the Fund and made subject to this Agreement in accordance with Section 19 below, shall be referred to as the Portfolio(s));  WHEREAS, each Fund not so authorized intends that this Agreement be applicable to it and all references herein to one or more Portfolio(s) shall be deemed to refer to such Fund(s); and  NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter contained, the parties hereto agree as follows:  SECTION1.
        EMPLOYMENT OF CUSTODIAN AND PROPERTY TO BE HELD BY IT
  Each Fund hereby employs the Custodian as the custodian of its assets of the Portfolios,  including securities which the Fund, on behalf of the applicable Portfolio, desires to be held in places within the United States (domestic securities) and securities it desires to be held outside the United States (foreign securities).  Each Fund, on behalf of its Portfolio(s), agrees to deliver to the Custodian all securities and cash owned by it (excluding assets held elsewhere pursuant to Rule 17f-6 of the 1940 Act), and all payments of income, payments of principal or capital distributions received by such Portfolios with respect to all securities owned by it from time to time, and the cash consideration received by it for such new or treasury share of beneficial interest of each Fund
representing interests in its Portfolios (Shares) as may be issued or sold from time to time. The Custodian shall not be responsible for any property of a Portfolio held or received by the Fund and not delivered to the Custodian.  With respect to uncertificated shares (the Underlying Shares) of registered investment companies (hereinafter sometimes referred to as the UnderlyingPortfolios), the holding of confirmation statements that identify the shares as being recorded in the Custodians name on behalf of the Portfolios will be deemed custody for purposes hereof.     Upon receipt ofProper Instructions(as such term is defined in Section 6 hereof), the Custodian shall, on behalf of the applicable Portfolio(s), from time to time employ one or more sub-custodians located in the United States, but only in accordance with an applicable vote by the Board of Directors or the Board of Trustees of the applicable Fund on behalf of the applicable Portfolio  (as appropriate, and in each case, the Board).  The Custodian may employ as sub-custodian for each Funds foreign securities, on behalf of the applicable Portfolio, the foreign banking institutions and foreign securities depositories designated in Schedules A and B hereto, but only in accordance with the applicable provisions of Sections 3 and 4.  The Custodian shall have no more or less
responsibility or liability to any Fund on account of any actions or omissions of any sub-custodian so employed than any such sub-custodian has to the Custodian.  SECTION 2.
        DUTIES OF THE CUSTODIAN WITH RESPECT TO PROPERTY OF THE FUND HELD BY THE CUSTODIAN IN THE UNITED STATES
  SECTION 2.1HOLDING SECURITIES.  The Custodian shall hold and physically segregate for the account of each Portfolio all non-cash property, to be held by it in the United States, including all domestic securities owned by such Portfolio other than (a) securities which are maintained pursuant to Section 2.9 in a clearing agency which acts as a securities depository or in a book-entry system authorized by the U.S. Department of the Treasury (each, a U.S. Securities System) and (b) the Underlying Shares owned by each Fund which are maintained pursuant to Section 2.14 in an account with State Street Bank and Trust Company or such other entity which may from time to time act as a transfer agent for the Underlying
Portfolios and with respect to which the Custodian is provided with Proper Instructions (the Underlying Transfer Agent).  SECTION 2.2DELIVERY OF SECURITIES.  The Custodian shall release and deliver domestic securities owned by a Portfolio held by the Custodian or in a U.S. Securities System account of the Custodian or in an account at the Underlying Transfer Agent, only upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, and only in the following cases:  1)
        Upon sale of such securities for the account of the Portfolio and receipt of payment therefor;
  2)
        Upon the receipt of payment in connection with any repurchase agreement related to such securities entered into by the Portfolio;
  3)
        In the case of a sale effected through a U.S. Securities System, in accordance with the provisions of Section 2.9 hereof;
  4)
        To the depository agent in connection with tender or other similar offers for securities of the Portfolio;
    5)
        To the issuer thereof or its agent when such securities are called, redeemed, retired or otherwise become payable; provided that, in any such case, the cash or other consideration is to be delivered to the Custodian;
  6)
        To the issuer thereof, or its agent, for transfer into the name of the Portfolio or into the name of any nominee or nominees of the Custodian or into the name or nominee name of any agent appointed pursuant to Section 2.8 or into the name or nominee name of any sub-custodian appointed pursuant to Section 1; or for exchange for a different number of bonds, certificates or other evidence representing the same aggregate face amount or number of units;providedthat, in any such case, the new securities are to be delivered to the Custodian;
  7)
        Upon the sale of such securities for the account of the Portfolio, to the broker or its clearing agent, against a receipt, for examination in accordance with street delivery custom; provided that in any such case, the Custodian shall have no responsibility or liability for any loss arising from the delivery of such securities prior to receiving payment for such securities except as may arise from the Custodians own negligence or willful misconduct;
  8)
        For exchange or conversion pursuant to any plan of merger, consolidation, recapitalization, reorganization or readjustment of the securities of the issuer of such securities, or pursuant to provisions for conversion contained in such securities, or pursuant to any deposit agreement; provided that, in any such case, the new securities and cash, if any, are to be delivered to the Custodian;
  9)
        In the case of warrants, rights or similar securities, the surrender thereof in the exercise of such warrants, rights or similar securities or the surrender of interim receipts or temporary securities for definitive securities; provided that, in any such case, the new securities and cash, if any, are to be delivered to the Custodian;
  10)
        For delivery in connection with any loans of securities made by the Portfolio,butonlyagainst receipt of adequate collateral as agreed upon from time to time by the Custodian and the Fund on behalf of the Portfolio, which may be in the form of cash or obligations issued by the United States government, its agencies or instrumentalities, except that in connection with any loans for which collateral is to be credited to the Custodians account in the book-entry system authorized by the U.S. Department of the Treasury, the Custodian will not be held liable or responsible for the delivery of securities owned by the Portfolio prior to the receipt of such collateral;
  11)
        For delivery in connection with any loans of securities made by a Fund on behalf of a Portfolio to a third-party lending agent, or the lending agents custodian, in accordance with Proper Instructions (which may not provide for
    the receipt by the Custodian of collateral therefor) agreed upon from time to time by the Custodian and the Fund on behalf of the Portfolio;  12)
        For the payment of initial or variation margin in connection with trading in futures and options on futures contracts;
  13)
        For delivery as security in connection with any borrowing by the Fund on behalf of a Portfolio requiring a pledge of assets by the Fund on behalf of such Portfolio,butonlyagainst receipt of amounts borrowed;
  14)
        For delivery in accordance with the provisions of any agreement among a Fund on behalf of a Portfolio, the Custodian and a broker-dealer registered under the Securities Exchange Act of 1934 (the Exchange Act) and a member of The National Association of Securities Dealers, Inc. (NASD), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange, or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund on behalf of a Portfolio;
  15)
        For delivery in accordance with the provisions of any agreement among a Fund on behalf of a Portfolio, the Custodian, and a futures commission merchant registered under the Commodity Exchange Act, relating to compliance with the rules of the Commodity Futures Trading Commission (CFTC) and/or any contract market, or any similar organization or organizations, regarding account deposits in connection with transactions by the Fund on behalf of a Portfolio;
  16)
        Upon receipt of instructions from the transfer agent for the Fund (the Transfer Agent) for delivery to such Transfer Agent or to the holders of Shares in connection with distributions in kind, as may be described from time to time in the  currently effective prospectus and statement of additional information of the Fund related to the Portfolio (the Prospectus), in satisfaction of requests by holders of Shares for repurchase or redemption;
  17)
        In the case of a sale processed through the Underlying Transfer Agent of Underlying Shares, in accordance with Section 2.14 hereof; and
  18)
        For any other purpose,butonlyupon receipt of Proper Instructions from the Fund on behalf of the applicable Portfolio specifying the securities of the Portfolio to be delivered and naming the person or persons to whom delivery of such securities shall be made.
  SECTION 2.3REGISTRATION OF SECURITIES.  Domestic securities held by the Custodian (other than bearer securities) shall be registered in the name of the Portfolio or in the name of any nominee of a Fund on behalf of the Portfolio or of any nominee of the Custodian which nominee shall be assigned exclusively to the Portfolio,unlessthe Fund has    authorized in writing the appointment of a nominee to be used in common with other registered investment companies having the same investment advisor as the Portfolio, or in the name or nominee name of any agent appointed pursuant to Section 2.8 or in the name or nominee name of any sub-custodian appointed pursuant to Section 1.  All securities accepted by the Custodian on behalf of the Portfolio under the terms of this Agreement shall be in street name or other good delivery form.  If, however, a Fund directs the Custodian to maintain securities in street name, the Custodian shall utilize its best efforts only to timely collect income due the Fund on such securities and to notify the Fund on a best efforts basis only of relevant corporate actions including, without limitation, pendency of calls, maturities, tender or exchange offers.  SECTION 2.4BANK ACCOUNTS.  The Custodian shall open and maintain a separate bank account or accounts in the United States in the name of each Portfolio of each Fund, subject only to draft or order by the Custodian acting pursuant to the terms of this Agreement, and shall hold in such account or accounts, subject to the provisions hereof, all cash received by it from or for the account of the Portfolio, other than cash maintained by the Portfolio in a bank account established and used in accordance with Rule 17f-3 under the Investment Company Act of 1940, as amended.  Monies held by the Custodian for a Portfolio may be deposited by it to its credit as Custodian in the banking department of the Custodian or in such other banks or trust companies as it may in its
discretion deem necessary or desirable;provided, however, that every such bank or trust company shall be qualified to act as a custodian under the 1940 Act and that each such bank or trust company and the monies to be deposited with each such bank or trust company shall on behalf of each Portfolio be approved by vote of a majority of the Board.  Such monies shall be deposited by the Custodian in its capacity as Custodian and shall be withdrawable by the Custodian only in that capacity.  SECTION 2.5COLLECTION OF INCOME.  Subject to the provisions of Section 2.3, the Custodian shall collect on a timely basis all income and other payments with respect to registered domestic securities held hereunder to which each Portfolio shall be entitled either by law or pursuant to custom in the securities business, and shall collect on a timely basis all income and other payments with respect to bearer domestic securities if, on the date of payment by the issuer, such securities are held by the Custodian or its agent thereof and shall credit such income, as collected, to such Portfolios custodian account.  Without limiting the generality of the foregoing, the Custodian shall detach and present for payment all coupons and other income
items requiring presentation as and when they become due and shall collect interest when due on securities held hereunder.  Income due each Portfolio on securities loaned pursuant to the provisions of Section 2.2 (10) and (11) shall be the responsibility of the applicable Fund.  The Custodian will have no duty or responsibility in connection therewith, other than to provide the Fund with such information or data as may be necessary to assist the Fund in arranging for the timely delivery to the Custodian of the income to which the Portfolio is properly entitled.  SECTION 2.6PAYMENT OF FUND MONIES.  Upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall pay out monies of a Portfolio in the following cases only:     1)
        Upon the purchase of domestic securities, options, futures contracts or options on futures contracts for the account of the Portfolio but only (a) against the delivery of such securities or evidence of title to such options, futures contracts or options on futures contracts to the Custodian (or any bank, banking firm or trust company doing business in the United States or abroad which is qualified under the 1940 Act to act as a custodian and has been designated by the Custodian as its agent for this purpose) registered in the name of the Portfolio or in the name of a nominee of the Custodian referred to in Section 2.3 hereof or in proper form for transfer; (b) in the case of a purchase effected through a U.S. Securities System, in accordance with the conditions set forth in Section 2.9 hereof; (c) in the case of a purchase of Underlying Shares, in accordance
with the conditions set forth in Section 2.14 hereof; (d) in the case of repurchase agreements entered into between the applicable Fund on behalf of  a Portfolio and the Custodian, or another bank, or a broker-dealer which is a member of NASD, (i) against delivery of the securities either in certificate form or through an entry crediting the Custodians account at the Federal Reserve Bank with such securities or (ii) against delivery of the receipt evidencing purchase by the Portfolio of securities owned by the Custodian along with written evidence of the agreement by the Custodian to repurchase such securities from the Portfolio; or (e) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; such transfer may be effected prior to receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund as defined herein;
  2)
        In connection with conversion, exchange or surrender of securities owned by the Portfolio as set forth in Section 2.2 hereof;
  3)
        For the redemption or repurchase of Shares issued as set forth in Section 5 hereof;
  4)
        For the payment of any expense or liability incurred by the Portfolio, including but not limited to the following payments for the account of the  Portfolio:  interest, taxes, management, accounting, transfer agent and legal fees, and operating expenses of the Fund whether or not such expenses are to be in whole or part capitalized or treated as deferred expenses;
  5)
        For the payment of any dividends on Shares declared pursuant to the Funds articles of incorporation or organization and by-laws or agreement or declaration of trust, as applicable, and Prospectus (collectively, Governing Documents);
  6)
        For payment of the amount of dividends received in respect of securities sold short;
    7)
        In connection with a lending or borrowing transaction between a Fund on behalf of a Portfolio and an investment company advised by Deutsche Asset Management, Inc., or its applicable affiliates;
  8)
        In connection with a cash sweep arrangement;
  9)
        For the payment of initial or variation margin in connection with trading in futures and options on futures contracts;
  10)
        For the payment of cash to one or more Repo Custodians appointed by a Fund on behalf of a Portfolio, as applicable, and communicated to the Custodian by Proper Instructions, including Schedule D (as may be amended from time to time)  attached to this Agreement, duly executed by an authorized officer of the Fund, for the purpose of engaging in repurchase agreement transactions, which payment may be made without contemporaneous receipt by the Custodian of assets in exchange therefor, and upon which delivery to such Repo Custodian in accordance with Proper Instructions from  the Fund on behalf of a Portfolio, the Custodian shall have no further responsibility or obligation to the Fund as a custodian for such Portfolio with respect to the cash so delivered in a Free Trade, provided that,  in preparing reports of monies received or paid out of the Portfolio or of
assets comprising the Portfolio, the Custodian shall be entitled to rely upon information received from time to time from the Repo Custodian and shall not be responsible for the accuracy or completeness of such information included in the Custodians reports until such assets are received by the Custodian; and
  11)
        For any other purpose,butonlyupon receipt of Proper Instructions from the Fund on behalf of the Portfolio specifying the amount of such payment and naming the person or persons to whom such payment is to be made.
  SECTION 2.7Liability for Payment in Advance of Receipt of Securities Purchased.  Except as specifically stated otherwise in this Agreement, in any and every case where payment for purchase of domestic securities for the account of a Portfolio is made by the Custodian in advance of receipt of the securities purchased in the absence of specific written instructions from the Fund on behalf of such Portfolio to so pay in advance, the Custodian shall be absolutely liable to the Fund for such securities to the same extent as if the securities had been received by the Custodian.  SECTION 2.8APPOINTMENT OF AGENTS.  The Custodian may at any time or times in its discretion appoint (and may at any time remove) any other bank or trust company which is itself qualified under the 1940 Act to act as a custodian, as its agent to carry out such of the provisions of this Section 2 as the Custodian may from time to time direct;provided, however, that the appointment of any agent shall not relieve the Custodian of its responsibilities or liabilities hereunder.  The Underlying Transfer Agent shall not be deemed an agent or subcustodian of the Custodian for purposes of this Section 2.8 or any other provision of this Agreement.     SECTION 2.9DEPOSIT OF FUND ASSETS IN U.S. SECURITIES SYSTEMS.  The Custodian may deposit and/or maintain securities owned by a Portfolio in a U.S. Securities System subject to the following provisions:  1)
        The Custodian may keep securities of a Portfolio in a U.S. Securities System provided that such securities are represented in an account of the Custodian in the U.S. Securities System, which account shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
  2)
        The records of the Custodian with respect to securities of the Portfolio which are maintained in a U.S. Securities System shall identify by book-entry those securities belonging to the Portfolio;
  3)
        The Custodian shall maintain securities of a Portfolio in a U.S. Securities System in compliance with the requirements of Rule 17f-4 of the 1940 Act, as amended from time to time.
  4)
        The Custodian shall provide the Fund with any report obtained by the Custodian on the U.S. Securities Systems accounting system, internal accounting control and procedures for safeguarding securities deposited in the U.S. Securities System;
  5)
        Anything to the contrary in this Agreement notwithstanding, the Custodian shall be liable to the Fund for the benefit of the Portfolio for any loss or damage to the Portfolio resulting from use of the U.S. Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the U.S. Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the U.S. Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Portfolio has not been made whole for any such loss or damage.
  SECTION 2.10SEGREGATED ACCOUNT.  The Custodian shall, upon receipt of Proper Instructions on behalf of each applicable Portfolio, establish and maintain a segregated account or accounts for and on behalf of each such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in an account by the Custodian pursuant to Section 2.9 hereof, (i) in accordance with the provisions of any agreement among a Fund on behalf of itself or its Portfolios, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered    national securities exchange (or the CFTC or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund or Portfolio, (ii) for purposes of segregating cash or government securities in connection with swaps arrangements entered into by a Fund on behalf of itself or its Portfolios, options purchased, sold or written by a Fund on behalf of itself or its Portfolio(s), or commodity futures contracts or options thereon purchased or sold by a Fund on behalf of itself or its Portfolios, (iii) for the purposes of compliance by a Fund or a Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release of the U.S. Securities and Exchange Commission (the SEC), or interpretative opinion of the staff of
the SEC, relating to the maintenance of segregated accounts by registered investment companies, (iv) for the purpose of segregating securities or other assets of the Fund on behalf of itself or its Portfolios in connection with a borrowing transaction between a Fund as borrower and an investment company advised by Deutsche Asset Management, Inc., or its applicable affiliates; and (v) for any other purpose upon receipt of Proper Instructions.  SECTION 2.11OWNERSHIP CERTIFICATES FOR TAX PURPOSES.  The Custodian shall execute ownership and other certificates and affidavits for all federal and state tax purposes in connection with receipt of income or other payments with respect to domestic securities of each Portfolio held by it and in connection with transfers of securities.  SECTION 2.12PROXIES.Except with respect to Portfolio property purchased pursuant to Section 2.6 (10), the Custodian shall, with respect to the domestic securities held hereunder, cause to be promptly executed by the registered holder of such securities, if the securities are registered otherwise than in the name of the Portfolio or a nominee of the Portfolio, all proxies, without indication of the manner in which such proxies are to be voted, and shall promptly deliver to the Fund such proxies, all proxy soliciting materials and all notices relating to such securities.  SECTION 2.13COMMUNICATIONS RELATING TO FUND SECURITIES.  Except with respect to Portfolio property purchased pursuant to Section 2.6(10), and subject to the provisions of Section 2.3, the Custodian shall transmit promptly to the applicable Fund for each Portfolio all written information (including, without limitation, pendency of calls and maturities of domestic securities and expirations of rights in connection therewith and notices of exercise of call and put options written by the Fund on behalf of itself or its Portfolios and the maturity of futures contracts purchased or sold by the Fund on behalf of itself or its Portfolios) received by the Custodian from issuers of the securities being held for the Fund or Portfolio.  With respect to
tender or exchange offers, the Custodian shall transmit promptly to the applicable  Fund all written information received by the Custodian from issuers of the securities whose tender or exchange is sought and from the party (or its agents) making the tender or exchange offer.  If a Fund desires to take action with respect to any tender offer, exchange offer or any other similar transaction, the Fund shall notify the Custodian at least three business days prior to the date on which the Custodian is to take such action.    SECTION 2.14DEPOSIT OF FUND ASSETS WITH THE UNDERLYING TRANSFER AGENT.  Underlying Shares shall be deposited and/or maintained in an account or accounts maintained with the Underlying Transfer Agent.  The Underlying Transfer Agent shall be deemed to be acting as if it is a securities depository for purposes of Rule 17f-4 under the 1940 Act.  Each Fund hereby directs the Custodian to deposit and/or maintain such securities with the Underlying Transfer Agent, subject to the following provisions:  1)
        The Custodian shall keep Underlying Shares owned by a Portfolio with the Underlying Transfer Agent provided that such securities are maintained in an account or accounts on the books and records of the Underlying Transfer Agent in the name of the Custodian as custodian for the Portfolio;
  2)
        The records of the Custodian with respect to Underlying Shares which are maintained with the Underlying Transfer Agent shall identify by book-entry those Underlying Shares belonging to each Portfolio;
  3)
        The Custodian shall pay for Underlying Shares purchased for the account of a Portfolio upon (i) receipt of advice from the Portfolio's investment adviser that such Underlying Shares have been purchased and will be transferred to the account of the Custodian, on behalf of the Portfolio, on the books and records of the Underlying Transfer Agent, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Portfolio.  The Custodian shall receive confirmation from the Underlying Transfer Agent of the purchase of such securities and the transfer of such securities to the Custodians account with the Underlying Transfer Agent only after such payment is made. The Custodian shall transfer Underlying Shares redeemed for the account of a Portfolio (i) upon receipt of an advice from the Portfolios
investment adviser that such securities have been redeemed and that payment for such securities will be transferred to the Custodian and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Portfolio.  The Custodian will receive confirmation from the Underlying Transfer Agent of the redemption of such securities and payment therefor only after such securities are redeemed. Copies of all advices from the Portfolio's investment adviser of purchases and sales of Underlying Shares for the account of the Portfolio shall identify the Portfolio, be maintained for the Portfolio by the Custodian, and be provided to the Portfolios investment adviser at its request; and
  4)
        The Custodian shall be not be liable to any Fund or any Portfolio for any loss or damage to the Fund or any Portfolio resulting from maintenance of Underlying Shares with Underlying Transfer Agent except for losses resulting directly from the negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees.
  SECTION 2.15
        AVAILABILITY OF FEDERAL FUNDSUpon agreement between the Fund
    on behalf of itself or its Portfolios and the Custodian, the Custodian shall, upon the receipt of Proper Instructions from the Fund or Portfolio, make federal funds available to the Fund or Portfolio as of specified times agreed upon from time to time by the Fund or Portfolio and the Custodian in the amount of checks received in payment for Shares of such Fund or Portfolio which are deposited into the Fund's or Portfolios account.  SECTION 3.
        PROVISIONS RELATING TO RULES 17F-5 AND 17F-7
  SECTION 3.1.DEFINITIONS.As used throughout this Agreement, the following capitalized terms shall have the indicated meanings:  Country Risk means all factors reasonably related to the systemic risk of holding Foreign Assets in a particular country including, but not limited to, such countrys political environment, economic and financial infrastructure (including any Eligible Securities Depository operating in the country), prevailing or developing custody and settlement practices, and laws and regulations applicable to the safekeeping and recovery of Foreign Assets held in custody in that country.  Eligible Foreign Custodian has the meaning set forth in section (a)(1) of Rule 17f-5, including a majority-owned direct or indirect subsidiary of a U.S. Bank (as defined in Section (a)(7) of Rule 17f-5), a bank holding company meeting the requirements of an Eligible Foreign Custodian  (as set forth in Rule 17f-5 or by other appropriate action of the SEC), or a foreign branch of a Bank (as defined in Section 2(a)(5) of the 1940 Act) meeting the requirements of a custodian under Section 17(f) of the 1940 Act; the term does not include any Eligible Securities Depository.  Eligible Securities Depository has the meaning set forth in section (b)(1) of Rule 17f-7.  Foreign Assets means any of the Funds investments (including foreign currencies) for which the primary market is outside the United States and such cash and cash equivalents as are reasonably necessary to effect the Funds transactions in such investments.  Foreign Custody Manager has the meaning set forth in section (a)(3) of Rule 17f-5.  Rule 17f-5 means Rule 17f-5 promulgated under the 1940 Act.  Rule 17f-7 means Rule 17f-7 promulgated under the 1940 Act.     SECTION 3.2.
        THE CUSTODIAN AS FOREIGN CUSTODY MANAGER.
  3.2.1DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER.Each Fund, by resolution adopted by its Board, hereby delegates to the Custodian, subject to Section (b) of Rule 17f-5, the responsibilities set forth in this Section 3.2 with respect to Foreign Assets held outside the United States, and the Custodian hereby accepts such delegation as Foreign Custody Manager for each Fund and each Portfolio, as applicable.  3.2.2COUNTRIES COVERED.The Foreign Custody Manager shall be responsible for performing the delegated responsibilities defined below only with respect to the countries and custody arrangements for each such country listed on the appropriate Schedule A to this Agreement (Schedule A, which list of countries may be amended from time to time by any Fund with the agreement of the Foreign Custody Manager.  The Foreign Custody Manager shall list on Schedule A the Eligible Foreign Custodians selected by the Foreign Custody Manager to maintain the assets of each Fund, and each  Schedule A of Eligible Foreign Custodians may be amended from time to time by agreement between the Fund and the Foreign Custody Manager.  The
Foreign Custody Manager will provide amended versions of Schedule A in accordance with Section 3.2.5 hereof.  Upon the receipt by the Foreign Custody Manager of Proper Instructions to open an account or to place or maintain Foreign Assets in a country listed on a Schedule A, and the fulfillment by each Fund, on behalf of the applicable Portfolio(s), of the applicable account opening requirements for such country, the Foreign Custody Manager shall be deemed to have been delegated by such Funds Board on behalf of such Portfolio(s)  responsibility as Foreign Custody Manager with respect to that country and to have accepted such delegation.  Execution of this Agreement by each Fund shall be deemed to be a Proper Instruction to open an account, or to place or maintain Foreign Assets, in each country listed on Schedule A in which the Custodian has previously placed or currently maintains Foreign Assets pursuant to the terms of the Agreement.  Following the receipt of Proper Instructions directing the Foreign
Custody Manager to close the account of a Portfolio with the Eligible Foreign Custodian selected by the Foreign Custody Manager in a designated country, the delegation by the Board on behalf of such Portfolio to the Custodian as Foreign Custody Manager for that country shall be deemed to have been withdrawn,  the Custodian shall immediately cease to be the Foreign Custody Manager for such Portfolio with respect to that country.  In the event that the Foreign Custody Manager determines that no Eligible Foreign Custodian in the designated market satisfies the requirements of Rule 17f-5, the Foreign Custody Manager may withdraw its acceptance of delegated responsibilities with respect to such designated country upon written notice to the Fund.  Sixty days (or such longer period to which the parties agree in writing) after receipt of any such notice by the Fund, the Custodian shall have no further responsibility in its capacity as Foreign Custody Manager to the Fund with respect to the country as to which the Custodians acceptance of delegation is withdrawn.    3.2.3
        SCOPE OF DELEGATED RESPONSIBILITIES:
  (a)SELECTION OF ELIGIBLE FOREIGN CUSTODIANS.Subject to the provisions of this Section 3.2, the Foreign Custody Manager may place and maintain the Foreign Assets in the care of the Eligible Foreign Custodian selected by the Foreign Custody Manager in each country listed on Schedule A, as amended from time to time.  In performing its delegated responsibilities as Foreign Custody Manager to place or maintain Foreign Assets with an Eligible Foreign Custodian, the Foreign Custody Manager shall determine that the Foreign Assets will be subject to reasonable care, based on the standards applicable to custodians in the country in which the Foreign Assets will be held by that Eligible Foreign
Custodian, after considering all factors relevant to the safekeeping of such assets, including, without limitation the factors specified in Rule 17f-5(c)(1), as amended from time to time.  (b)CONTRACTS WITH ELIGIBLE FOREIGN CUSTODIANS.The Foreign Custody Manager shall determine that the contract governing the foreign custody arrangements with each Eligible Foreign Custodian selected by the Foreign Custody Manager will satisfy the requirements of Rule 17f-5(c)(2).  (c)MONITORING.  In each case in which the Foreign Custody Manager maintains Foreign Assets with an Eligible Foreign Custodian selected by the Foreign Custody Manager, the Foreign Custody Manager shall establish a system to monitor: (i) the appropriateness of maintaining the Foreign Assets with such Eligible Foreign Custodian and (ii) performance of the contract governing the custody arrangements established by the Foreign Custody Manager with the Eligible Foreign Custodian.  In the event the Foreign Custody Manager determines that the custody arrangements with an Eligible Foreign Custodian it has selected are no longer appropriate, the Foreign Custody Manager shall notify the Board in accordance with Section 3.2.5 hereunder.  3.2.4GUIDELINES FOR THE EXERCISE OF DELEGATED AUTHORITY.For purposes of this Section 3.2, the Board, directly or by delegation to its duly authorized investment adviser or investment manager, shall be deemed to have considered and determined to accept such Country Risk as is incurred by placing and maintaining the Foreign Assets in each country for which the Custodian is serving as Foreign Custody Manager of the Portfolios.  3.2.5REPORTING REQUIREMENTS.At least annually and more frequently as the Board deems reasonable and appropriate based on the circumstances, the Foreign Custody Manager shall provide the Board with written reports specifying placement of the Portfolios Foreign Assets with eachEligible Foreign Custodian selected by the Foreign Custody Manager and shall promptly report to the Board, or its duly authorized investment adviser or manager, as to any material change to such foreign custody arrangement.  3.2.6STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF THE FUND.In performing the responsibilities delegated to it hereunder, the Foreign Custody Manager agrees to exercise reasonable care, prudence and diligence such as a person having    responsibility for the safekeeping of foreign assets of management investment companies registered under the 1940 Act would exercise.  3.2.7REPRESENTATIONS WITH RESPECT TO RULE 17F-5.The Foreign Custody Manager represents to each Fund that it is a U.S. Bank as defined in section (a)(7) of Rule 17f-5.  Each Fund represents to the Custodian that its Board has determined that it is reasonable for such Board to rely on the Custodian to perform the responsibilities delegated pursuant to this Agreement to the Custodian as the Foreign Custody Manager of the Portfolios.  3.2.8EFFECTIVE DATE AND TERMINATION OF THE CUSTODIAN AS FOREIGN CUSTODY MANAGER.The Boards delegation to the Custodian as Foreign Custody Manager of the Portfolios shall be effective as of the date hereof and shall remain in effect until terminated at any time, without penalty, by written notice from the terminating party to the non-terminating party. Termination will become effective sixty (60) days after receipt by the non-terminating party of such notice.  The provisions of Section 3.2.2 hereof shall govern the delegation to and termination of the Custodian as Foreign Custody Manager of the Portfolios with respect to
designated countries.  SECTION3.3
        ELIGIBLE SECURITIES DEPOSITORIES.
  3.3.1ANALYSIS AND MONITORING.The Custodian shall (a) provide each Fund(or its duly-authorized investment manager or investment advisor) with an analysis of the custody risks associated with maintaining assets with the Eligible Securities Depositories set forth on Schedule B hereto, in accordance with section (a)(1)(i)(A) of Rule 17f-7, and (b) monitor such risks on a continuing basis, and promptly notify such Fund (or its duly-authorized investment manager or investment advisor) of any material change in such risks, in accordance with section (a)(1)(i)(B) of Rule 17f-7.  3.3.2STANDARD OF CARE.The Custodian agrees to exercise reasonable care, prudence and diligence in performing the duties set forth in Section 3.3.1.  SECTION4.
        DUTIES OF THE CUSTODIAN WITH RESPECT TO PROPERTY OF THE FUND HELD OUTSIDE THE UNITED STATES
  SECTION4.1DEFINITIONS.  As used throughout this Agreement, the following capitalized terms shall have the indicated meanings:  Foreign Securities System means an Eligible Securities Depository listed on Schedule B hereto.  Foreign Sub-Custodian means a foreign banking institution serving as an Eligible Foreign Custodian.    SECTION4.2.HOLDING SECURITIES.  The Custodian shall identify on its books as belonging to the Portfolios the foreign securities held by each Foreign Sub-Custodian or Foreign Securities System.  The Custodian may hold foreign securities for all of its customers, including the Portfolios, with any Foreign Sub-Custodian in an account that is identified as belonging to the Custodian for the benefit of its customers, provided however, that (i) the records of the Custodian with respect to foreign securities of the Portfolios which are maintained in such account shall identify those securities as belonging to the Portfolios and (ii) to the extent permitted and customary in the market in which the account is maintained, the Custodian shall require that
securities so held by the Foreign Sub-Custodian be held separately from any assets of such Foreign Sub-Custodian or of other customers of such Foreign Sub-Custodian.  SECTION4.3.FOREIGN SECURITIES SYSTEMS.Foreign securities shall be maintained in a Foreign Securities System in a designated country through arrangements implemented by the Custodian or a Foreign Sub-Custodian, as applicable, in such country.  SECTION4.4.
        TRANSACTIONS IN FOREIGN CUSTODY ACCOUNT.
  4.4.1.DELIVERY OF FOREIGN SECURITIES.The Custodian or a Foreign Sub-Custodian shall release and deliver foreign securities of the Portfolios held by the Custodian or such Foreign Sub-Custodian, or in a Foreign Securities System account, only upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, and only in the following cases:  (i)
        upon the sale of such foreign securities for the Portfolio in accordance with commercially reasonable market practice in the country where such foreign securities are held or traded, including, without limitation: (A) delivery against expectation of receiving later payment; or (B) in the case of a sale effected through a Foreign Securities System, in accordance with the rules governing the operation of the Foreign Securities System;
  (ii)
        to the depository agent in connection with tender or other similar offers for foreign securities of the Portfolio;
  (iii)
        to the issuer thereof or its agent when such foreign securities are called, redeemed, retired or otherwise become payable;
  (iv)
        to the issuer thereof, or its agent, for transfer into the name of the Custodian (or the name of the respective Foreign Sub-Custodian or of any nominee of the Custodian or such Foreign Sub-Custodian) or for exchange for a different number of bonds, certificates or other evidence representing the same aggregate face amount or number of units;
  (v)
        to brokers, clearing banks or other clearing agents for examination or trade execution in accordance with market custom; provided that in any such case the Foreign Sub-Custodian shall have no responsibility or liability for any
    loss arising from the delivery of such securities prior to receiving payment for such securities except as may arise from the Foreign Sub-Custodians own negligence or willful misconduct;  (vi)
        for exchange or conversion pursuant to any plan of merger, consolidation, recapitalization, reorganization or readjustment of the securities of the issuer of such securities, or pursuant to provisions for conversion contained in such securities, or pursuant to any deposit agreement;
  (vii)
        in the case of warrants, rights or similar foreign securities, the surrender thereof in the exercise of such warrants, rights or similar securities or the surrender of interim receipts or temporary securities for definitive securities;
  (viii)
        for delivery as security in connection with any borrowing by a Fund on behalf of  a Portfolio requiring a pledge of assets by the Fund on behalf of such Portfolio;
  (ix)
        in connection with trading in options and futures contracts, including delivery as original margin and variation margin;
  (x)
        For delivery in connection with any loans of foreign securities made by a Fund on behalf of a Portfolio,butonlyagainst receipt of adequate collateral as agreed upon from time to time by the Custodian and such Fund on behalf of a Portfolio, which may be in the form of cash or obligations issued by the United States government, its agencies or instrumentalities, except that in connection with any loans for which collateral is to be credited to the Custodians account in the book-entry system authorized by the U.S. Department of the Treasury, the Custodian will not be held liable or responsible for the delivery of securities owned by the Portfolio prior to the receipt of such collateral;
  (xi)
        For delivery in connection with any loans of foreign securities made by a Fund on behalf of a Portfolio to a third party lending agent, or the lending agents custodian, in accordance with Proper Instructions (which may not provide for the receipt by the Custodian of collateral therefor) agreed upon from time to time by the Custodian and the Fund on behalf of such Portfolio; and
  (xii)
        for any other purpose, but only upon receipt of Proper Instructions specifying the foreign securities to be delivered and naming the person or persons to whom delivery of such securities shall be made.
    4.4.2.PAYMENT OF  PORTFOLIO MONIES.Upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall pay out, or direct the respective Foreign Sub-Custodian or the respective Foreign Securities System to pay out, monies of a Portfolio in the following cases only:  (i)
        upon the purchase of foreign securities for the Portfolio, unless otherwise directed by Proper Instructions, by (A) delivering money to the seller thereof or to a dealer therefor (or an agent for such seller or dealer) against expectation of receiving later delivery of such foreign securities; or (B) in the case of a purchase effected through a Foreign Securities System, in accordance with the rules governing the operation of such Foreign Securities System;
  (ii)
        in connection with the conversion, exchange or surrender of foreign securities of the Portfolio;
  (iii)
        for the payment of any expense or liability of the Portfolio, including but not limited to the following payments:  interest, taxes, investment advisory fees, transfer agency fees, fees under this Agreement, legal fees, accounting fees, and other operating expenses;
  (iv)
        for the purchase or sale of foreign exchange or foreign exchange contracts for the Portfolio, including transactions executed with or through the Custodian or its Foreign Sub-Custodians;
  (v)
        in connection with trading in options and futures contracts, including delivery as original margin and variation margin;
  (vi)
        for payment of part or all of the dividends received in respect of securities sold short;
  (vii)
        in connection with a lending or borrowing transaction between a  Portfolio and an investment company advised by Deutsche Asset Management, Inc., or its applicable affiliates;
  (viii)
        for delivery in connection with any loans of foreign securities made by a  Portfolio,butonlyagainst receipt of adequate collateral as agreed upon from time to time by the Custodian and such Portfolio, which may be in the form of cash or obligations issued by the United States government, its agencies or instrumentalities, except that in connection with any loans for which collateral is to be credited to the Custodians account in the book-entry system authorized by the U.S. Department of the Treasury, the Custodian will not be held liable or responsible for the delivery of securities owned by such Portfolio prior to the receipt of such collateral;
    (ix)
        For delivery in connection with any loans of foreign securities made by a Portfolio to a third party lending agent, or the lending agents custodian, in accordance with Proper Instructions (which may not provide for the receipt by the Custodian of collateral therefor) agreed upon from time to time by the Custodian and such Portfolio; and
  (x)
        for any other purpose, but only upon receipt of Proper Instructions specifying the amount of such payment and naming the person or persons to whom such payment is to be made.
  4.4.3.MARKET CONDITIONS.Notwithstanding any provision of this Agreement to the contrary, settlement and payment for Foreign Assets received for the account of the Portfolios and delivery of Foreign Assets maintained for the account of the Portfolios  may be effected in accordance with the customary established securities trading or processing practices and procedures in the country or market in which the transaction occurs, including, without limitation, delivering Foreign Assets to the purchaser thereof or to a dealer therefor (or an agent for such purchaser or dealer) with the expectation of receiving later payment for such Foreign Assets from such purchaser or dealer.  The Custodian shall provide to each Board, or its duly authorized designee, the information with respect to custody and settlement practices in countries in which the Custodian employs a Foreign Sub-Custodian described on Schedule C hereto at the time or times set forth on such Schedule.The Custodian may revise Schedule C from time to time, provided that no such revision shall result in a Board or its duly-authorized designee being provided with substantively less information than had been previously provided hereunder.  SECTION4.5.REGISTRATION OF FOREIGN SECURITIES.The foreign securities maintained in the custody of a Foreign Sub-Custodian (other than bearer securities) shall be registered in the name of the applicable Portfolio or in the name of the Custodian or in the name of any Foreign Sub-Custodian or in the name of any nominee of the foregoing, and, provided that a nominee does not act negligently, the applicable Fund on behalf of such Portfolio agrees to hold any such nominee harmless from any liability as a holder of record of such foreign securities. The Custodian or a Foreign Sub-Custodian shall not be obligated to accept securities on behalf of a Portfolio  under the terms of this Agreement unless the form of such securities and the
manner in which they are delivered are in accordance with reasonable market practice.  SECTION 4.6 BANK ACCOUNTS.  The Custodian shall identify on its books as belonging to the applicable Fund cash (including cash denominated in foreign currencies) deposited with the Custodian.  Where the Custodian is unable to maintain, or market practice does not facilitate the maintenance of, cash on the books of the Custodian, a bank account or bank accounts shall be opened and maintained outside the United States on behalf of a Portfolio with a Foreign Sub-Custodian in accordance with the provisions of this Agreement.  All accounts referred to in this Section shall be subject only to draft or order by the Custodian (or, if applicable, such Foreign Sub-Custodian) acting pursuant to the terms of this Agreement to hold cash received by or from or for the account of the Portfolio.  Cash    maintained on the books of the Custodian (including its branches, subsidiaries and affiliates), regardless of currency denomination, is maintained in bank accounts established under, and subject to the laws of, The Commonwealth of Massachusetts.  SECTION4.7.COLLECTION OF INCOME.The Custodian shall use reasonable commercial efforts to collect all income and other payments with respect to the Foreign Assets held hereunder to which the Portfolios shall be entitled and shall credit such income, as collected, to the applicable Portfolio.  In the event that extraordinary measures are required to collect such income, the Fund and the Custodian shall consult as to such measures and as to the compensation and expenses of the Custodian relating to such measures.  SECTION4.8  SHAREHOLDER RIGHTS.With respect to the foreign securities held pursuant to this Section 4, the Custodian will use reasonable commercial efforts to facilitate the exercise of voting and other shareholder rights, subject always to the laws, regulations and practical constraints that may exist in the country where such securities are issued.  Each Fund acknowledges that local conditions, including lack of regulation, onerous procedural obligations, lack of notice and other factors may have the effect of severely limiting the ability of such Fund to exercise shareholder rights.  SECTION4.9.COMMUNICATIONS RELATING TO FOREIGN SECURITIES.The Custodian shall transmit promptly to the applicable Fund written information with respect to materials received by the Custodian via the Foreign Sub-Custodians from issuers of the foreign securities being held for the account of the Portfolios (including, without limitation, pendency of calls and maturities of foreign securities and expirations of rights in connection therewith).  With respect to tender or exchange offers, the Custodian shall transmit promptly to the applicable Fund written information with respect to materials so received by the Custodian from issuers of the foreign securities whose tender or exchange
is sought or from the party (or its agents) making the tender or exchange offer.  Absent negligence on the part of the Custodian, the Custodian shall not be liable for any untimely exercise of any tender, exchange or other right or power in connection with foreign securities or other property of the Portfolios at any time held by it unless (i) the Custodian or the respective Foreign Sub-Custodian is in actual possession or control of such foreign securities or property and (ii) the Custodian receives Proper Instructions with regard to the exercise of any such right or power, and both (i) and (ii) occur at least three business days prior to the date on which the Custodian is to take action to exercise such right or power.  SECTION4.10.LIABILITY OF FOREIGN SUB-CUSTODIANS.Each agreement pursuant to which the Custodian employs a Foreign Sub-Custodian shall require the Foreign Sub-Custodian to exercise reasonable care in the performance of its duties, and, to the extent possible,  to indemnify and hold harmless the Custodian from and against any loss, damage, cost, expense, liability or claim arising out of or in connection with the Foreign Sub-Custodians performance of such obligations.  At a Funds election, the Portfolios shall be entitled to be subrogated to the rights of the Custodian with respect to any claims against a Foreign Sub-Custodian as a consequence of any such loss, damage, cost, expense, liability or    claim if and to the extent that the Portfolios has not been made whole for any such loss, damage, cost, expense, liability or claim.  SECTION 4.11TAX LAW.The Custodian shall have no responsibility or liability for any obligations now or hereafter imposed on any Fund, the Portfolios or the Custodian as custodian of the Portfolios by the tax law of the United States or of any state or political subdivision thereof.  It shall be the responsibility of each Fund to notify the Custodian of the obligations imposed on such Fund with respect to those Portfolios or the Custodian as custodian of the Portfolios by the tax law of countries other than those mentioned in the above sentence, including responsibility for withholding and other taxes, assessments or other governmental charges, certifications and governmental reporting.  The sole responsibility of the Custodian with regard to such tax law shall be to use reasonable
efforts to assist the Fund with respect to any claim for exemption or refund under the tax law of countries for which such Fund has provided such information.  SECTION 4.12.ACCESS OF INDEPENDENT ACCOUNTANTS OF THE FUND.  Upon request of  any Fund, the Custodian will use reasonable efforts to arrange for the independent accountants of  such Fund to be afforded access to the books and records of any foreign banking institution employed as a foreign sub-custodian insofar as such books and records relate to the performance of such foreign banking institution under its contract with the Custodian.  SECTION 5.
        PAYMENTS FOR SALES OR REPURCHASES OR REDEMPTIONS OF SHARES
  The Custodian shall receive from the distributor for the Shares or from the Transfer Agent and deposit into the account of the appropriate Portfolio such payments as are received for Shares thereof issued or sold from time to time by the applicable Fund.  The Custodian will provide timely notification to such Fund on behalf of each such Portfolio  and the Transfer Agent of any receipt by it of payments for Shares of such Portfolio.  From such funds as may be available for the purpose, the Custodian shall, upon receipt of instructions from the Transfer Agent, make funds available for payment to holders of Shares who have delivered to the Transfer Agent a request for redemption or repurchase of their Shares.  In connection with the redemption or repurchase of Shares, the Custodian is authorized upon receipt of instructions from the Transfer Agent to wire funds to or through a commercial bank designated by the redeeming shareholders.  SECTION 6.
        PROPER INSTRUCTIONS
  Proper Instructions, which may also be standing instructions, as used throughout this Agreement shall mean instructions received by the Custodian from a Fund or from a Funds investment manager or subadviser, as duly authorized by the applicable Board of such Fund.   Such instructions may be in writing signed by the authorized person or persons or may be in a tested communication or in a communication utilizing access codes effected between electro-mechanical or electronic devices or may be by such other means and utilizing such intermediary systems and utilities as may be agreed to from time to time by the Custodian and the person    giving such instructions, provided that each Fund has followed any security procedures agreed to from time to time by the applicable Fund and the Custodian, including, but not limited to, the security procedures selected by such Fund in the Funds Transfer Addendum to this Agreement.   Oral instructions will be considered Proper Instructions if the Custodian reasonably believes them to have been given by a person authorized to give such instructions with respect to the transaction involved. Each Fund shall cause all oral instructions to be confirmed promptly in writing.   For purposes of this Section, Proper Instructions shall include instructions received by the Custodian pursuant to anymulti-partyagreement which requires a segregated asset account in accordance with Section 2.10 of this Agreement.  Each Fund or
such Funds investment manager shall cause its duly authorized officer to certify to the Custodian in writing the names and specimen signatures of persons authorized to give Proper Instructions.  The Custodian shall be entitled to rely upon the identity and authority of such persons until it receives notice from the applicable Fund to the contrary.  SECTION 7.
        ACTIONS PERMITTED WITHOUT EXPRESS AUTHORITY
  The Custodian may in its discretion, without express authority from the applicable Fund on behalf  of each applicable Portfolio:  1)
        make payments to itself or others for minor expenses of handling securities or other similar items relating to its duties under this Agreement,providedthat all such payments shall be accounted for to the Fund on behalf of the Portfolio;
  2)
        surrender securities in temporary form for securities in definitive form;
  3)
        endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and
  4)
        in general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable Board.
  SECTION 8.
        EVIDENCE OF AUTHORITY
  The Custodian shall be protected in acting upon any instructions, notice, request, consent, certificate or other instrument or paper believed by it to be genuine and to have been properly executed by or on behalf of the applicable  Fund.  The Custodian may receive and accept a copy of a resolution of the Board, certified by the Secretary or an Assistant Secretary of any Fund (Certified Resolution), as conclusive evidence (a) of the authority of any person to act in accordance with such resolution or (b) of any determination or of any action by the applicable Board as described in such resolution, and such resolution may be considered as in full force and effect until receipt by the Custodian of written notice to the contrary.     SECTION9.
        DUTIES OF CUSTODIAN WITH RESPECT TO THE BOOKS OF ACCOUNT AND CALCULATION OF NET ASSET VALUE AND NET INCOME
  The Custodian shall cooperate with and supply necessary information to the entity or entities appointed by the applicable Board to keep the books of account of each Portfolio and/or compute the net asset value per Share of the outstanding Shares or, if directed in writing to do so by the Fund on behalf of such Portfolio(s), shall itself keep such books of account and/or compute such net asset value per Share.  If so directed, the Custodian shall also calculate daily the net income of each applicable Portfolio as described in the Prospectus and shall advise such Portfolio and the Transfer Agent daily of the total amounts of such net income and, if instructed in writing by an officer of the Fund on behalf of such Portfolio to do so, shall advise the Transfer Agent periodically of the division of such net income among its various components.  Each Fund acknowledges and agrees that, with respect to investments
maintained with the Underlying Transfer Agent, the Underlying Transfer Agent is the sole source of information on the number of shares of a fund held by it on behalf of a Portfolio and that the Custodian has the right to rely on holdings information furnished by the Underlying Transfer Agent to the Custodian in performing its duties under this Agreement, including, without limitation, the duties set forth in this Section 9 and in Section 10 hereof; provided, however, that the Custodian shall be obligated to reconcile information as to purchases and sales of Underlying Shares contained in trade instructions and confirmations received by the Custodian and to report promptly any discrepancies to the Underlying Transfer Agent.  The calculations of the net asset value per Share and the daily income of each  Portfolio shall be made at the time or times described from time to time in the Prospectus.  SECTION 10.
        RECORDS
  The Custodian shall create and maintain all records relating to its activities and obligations under this Agreement in such manner as will meet the obligations of each Fund under the 1940 Act, with particular attention to Section 31 thereof and Rules 31a-1 and 31a-2 thereunder.  All such records shall be the property of the Fund and shall at all times during the regular business hours of the Custodian be open for inspection by duly authorized officers, employees or agents of such Fund and employees and agents of the SEC.  The Custodian shall, at the Funds request, supply the Fund with a tabulation of securities owned by each Portfolio and held by the Custodian and shall, when requested to do so by the Fund and for such compensation as shall be agreed upon between the Fund and the Custodian, include certificate numbers in such tabulations.  SECTION 11.
        OPINION OF FUND'S INDEPENDENT ACCOUNTANT
  The Custodian shall take all reasonable action, as a Fund with respect to a Portfolio may from time to time request, to obtain from year to year favorable opinions from the Funds independent accountants with respect to its activities hereunder in connection with the preparation of the Funds Form N-1A, N-2, and Form N-SAR or other annual reports to the SEC and with respect to any other requirements thereof.     SECTION 12.
        REPORTS TO FUND BY INDEPENDENT PUBLIC ACCOUNTANTS
  The Custodian shall provide the applicable Fund, on behalf of each of the Portfolios, at such times as such Fund may reasonably require, with reports by independent public accountants on the accounting system, internal accounting control and procedures for safeguarding securities, futures contracts and options on futures contracts, including securities deposited and/or maintained in a U.S. Securities System or a Foreign Securities System (either system, a Securities System) relating to the services provided by the Custodian under this Agreement; such reports, shall be of sufficient scope and in sufficient detail, as may reasonably be required by the Fund to provide reasonable assurance that any material inadequacies would be disclosed by such examination, and, if there are no such inadequacies, the reports shall so state.  SECTION 13.
        COMPENSATION OF CUSTODIAN
  The Custodian shall be entitled to reasonable compensation for its services and expenses as Custodian, as agreed upon from time to time between each Fund, on behalf of each applicable Portfolio, and the Custodian.  SECTION 14.
        RESPONSIBILITY OF CUSTODIAN
  So long as and to the extent that it is in the exercise of reasonable care, the Custodian shall not be responsible for the title, validity or genuineness of any property or evidence of title thereto received by it or delivered by it pursuant to this Agreement and shall be held harmless in acting upon any notice, request, consent, certificate or other instrument reasonably believed by it to be genuine and to be signed by the proper party or parties, including any futures commission merchant acting pursuant to the terms of a three-party futures or options agreement.  The Custodian shall be held to the exercise of reasonable care in carrying out the provisions of this Agreement, but shall be kept indemnified by and shall be without liability to any Fund for any action taken or omitted by it in good faith without negligence, including, without limitation, acting in accordance with any Proper Instruction.  It
shall be entitled to rely on and may act upon advice of counsel (who may be counsel for a Fund) on all matters, and shall be without liability for any action reasonably taken or omitted pursuant to such advice.  Except to the extent arising from the Custodians own negligence or willful misconduct or the negligence or willful misconduct of a sub-custodian, the Custodian shall be without liability to any Fund or Portfolio for any loss, liability, claim or expense resulting from or caused by anything which is part of Country Risk (as defined in Section 3 hereof), including without limitation nationalization, expropriation, currency restrictions, or acts of war, revolution, riots or terrorism.  Except as may arise from the Custodians own negligence, willful misconduct, or the negligence or willful misconduct of a sub-custodian or agent, the Custodian shall be without liability to any Fund for any loss, liability, claim or expense resulting from or caused by: (i) events or circumstances beyond the reasonable control of the Custodian or any sub-custodian or Securities System or any agent or nominee of any of the foregoing, including, without    limitation, the interruption, suspension or restriction of trading on or the closure of any securities market, power or other mechanical or technological failures or interruptions, computer viruses or communications disruptions, work stoppages, natural disasters, or other similar events or acts; or (ii) the insolvency of or acts or omissions by a Securities System.  In the event such event or circumstances directly affect the performance of the Custodians obligations under this Agreement, the Custodian will take reasonable steps to minimize service interruptions arising from such event or circumstances.  The Custodian shall be liable for the acts or omissions of a Foreign Sub-Custodian (as defined in Section 4 of this Agreement) to the same extent as set forth with respect to sub-custodians generally in the Agreement and, regardless of whether assets are maintained in the custody of a Foreign Sub-Custodian or a Foreign Securities System, the Custodian shall not be liable for any loss, damage, cost, expense, liability or claim resulting from nationalization, expropriation, currency restrictions, or acts of war or terrorism, or any other loss where the Sub-Custodian has otherwise acted with reasonable care.  If a Fund on behalf of a Portfolio requires the Custodian to take any action with respect to securities, which action involves the payment of money or which action may, in the opinion of the Custodian, result in the Custodian or its nominee assigned to the Fund or the Portfolio being liable for the payment of money or incurring liability of some other form, such Fund on behalf of the Portfolio, as a prerequisite to requiring the Custodian to take such action, shall provide indemnity to the Custodian in an amount and form satisfactory to it.  If any Fund or any of its applicable Portfolios requires the Custodian, its affiliates, subsidiaries or agents, to advance cash or securities for any purpose (including but not limited to securities settlements, foreign exchange contracts and assumed settlement) or in the event that the 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 such Fund on behalf of the applicable Portfolio shall be security therefor and should the Portfolio fail to repay the Custodian promptly, the Custodian shall be entitled to utilize available cash and to dispose of the Portfolios assets to the extent necessary to obtain reimbursement.  SECTION 15.
        EFFECTIVE PERIOD, TERMINATION AND AMENDMENT
  This Agreement shall become effective as of its execution and shall continue in full force and effect until terminated as hereinafter provided. This Agreement may be amended at any time by mutual agreement of the parties hereto and may be terminated by either party by an instrument in writing delivered or mailed, postage prepaid to the other party, such termination to take effect not sooner than ninety (90) days after the date of such delivery or mailing;provided, however, that a Fund shall not amend or terminate this Agreement in contravention of any applicable federal or state regulations, or any provision of such Funds Governing Documents, and further provided, that any Fund on behalf of one or more of the Portfolios may at any time by action of its Board (i) substitute another bank or trust company    for the Custodian by giving notice as described above to the Custodian, or (ii) immediately terminate this Agreement in the event of the appointment of a conservator or receiver for the Custodian by the Comptroller of the Currency or upon the happening of a like event at the direction of an appropriate regulatory agency or court of competent jurisdiction.  Termination of this Agreement with respect to any one particular Fund or Portfolio shall in no way affect the rights and duties under this Agreement with respect to any other Fund or Portfolio. Upon termination of the Agreement, the applicable Fund on behalf of each applicable Portfolio shall pay to the Custodian such compensation as may be due as of the date of such termination and shall likewise reimburse the Custodian for its reasonable costs, expenses and disbursements.  SECTION 16.
        SUCCESSOR CUSTODIAN
  If a successor custodian for one or more Portfolios shall be appointed by the applicable Board, the Custodian shall, upon termination and receipt of Proper Instructions, deliver to such successor custodian at the office of the Custodian, duly endorsed and in the form for transfer, all securities of each applicable Portfolio then held by it hereunder and shall transfer to an account of the successor custodian all of the securities of each such Portfolio held in a Securities System or at the Underlying Transfer Agent.  If no such successor custodian shall be appointed, the Custodian shall, in like manner, upon receipt of a Certified Resolution, deliver at the office of the Custodian and transfer such securities, funds and other properties in accordance with such resolution.  In the event that no written order designating a successor custodian or Certified Resolution shall have been delivered to the Custodian on or before the date when such termination shall become effective, then the Custodian shall have the right to deliver to a bank or trust company, which is a bank as defined in the 1940 Act, doing business in Boston, Massachusetts, or New York, New York, of its own selection, having an aggregate capital, surplus, and undivided  profits, as shown by its last published report, of not less than $25,000,000, all securities, funds and other properties held by the Custodian on behalf of each applicable Portfolio and all instruments held by the Custodian relative thereto and all other property held by it under this Agreement on behalf of each applicable Portfolio, and to transfer to an account of such successor custodian all of the  securities of each such Portfolio
held in any Securities System or at the Underlying Transfer Agent.  Thereafter, such bank or trust company shall be the successor of the Custodian under this Agreement.  In the event that securities, funds and other properties remain in the possession of the Custodian after the date of termination hereof owing to failure of any Fund to procure the Certified Resolution  to appoint a successor custodian, the Custodian shall be entitled to fair compensation for its services during such period as the Custodian retains possession of such securities, funds and other properties and the provisions of this Agreement relating to the duties and obligations of the Custodian shall remain in full force and effect.    SECTION 17.
        LIMITATION OF LIABILITY OF FUND
  As expressly permitted, limited or prohibited by relevant state or federal law, it is understood and expressly stipulated that no member of the Board, officers, agents or shareholders of any Fund shall be personally liable under the Agreement.  It is understood and acknowledged that all persons dealing with any Fund must look solely to the property of that Fund for the enforcement of any claims against such Fund, as the trustees, officers, agents or shareholders will not assume any personal liability for obligations entered into on behalf of such Fund.  SECTION 18.
        ADDITIONAL FUNDS
  In the event that any registered investment company in addition to those listed on Appendix A to this Agreement desires to have the Custodian render services as custodian under the terms of this Agreement, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such registered investment company shall become a Fund hereunder and be bound by all terms and conditions and provisions of this Agreement.  SECTION 19.
        ADDITIONAL PORTFOLIOS
  In the event that any Fund establishes one or more series of Shares in addition to those set forth on Appendix A to this Agreement and the Fund desires to have the Custodian render services to such series as custodian under the terms of this Agreement, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such series of Shares shall become a Portfolio under this Agreement.  SECTION 20.
        INTERPRETIVE AND ADDITIONAL PROVISIONS
  In connection with the operation of this Agreement, the Custodian and each Fund on behalf of the Portfolios may from time to time agree on such provisions interpretive of or in addition to the provisions of this Agreement as may in their joint opinion be consistent with the general tenor of this Agreement.  Any such interpretive or additional provisions shall be in a  writing signed by both parties and shall be annexed hereto,providedthat no such interpretive or additional provisions shall contravene any applicable federal or state regulations or any provision of any  Funds Governing Documents.  No interpretive or additional provisions made as provided in the preceding sentence shall be deemed to be an amendment of this Agreement.  SECTION 21.
        MASSACHUSETTS LAW TO APPLY
  This Agreement shall be construed and the provisions thereof interpreted under and in accordance with laws of The Commonwealth of Massachusetts.     SECTION 22.
        PRIOR AGREEMENTS
  This Agreement supersedes and terminates, as of the date hereof, all prior Agreements between each Fund on behalf of each of the Portfolios, as applicable, and the Custodian relating to the custody of such Funds assets.  SECTION 23.
        NOTICES.
  Any notice, instruction or other instrument required to be given hereunder may be delivered in person to the offices of the parties as set forth herein during normal business hours or delivered prepaid registered mail or by telex, cable or telecopy to the parties at the following addresses or such other addresses as may be notified by any party from time to time.  To the Funds:
        Deutsche Asset Management
 Two International Place
 Boston, MA  02110
 Attention:  John Millette
 Telephone:
        617-295-2572
 Telecopy:
        617-295-4066
  To the Custodian:
        State Street Bank and Trust Company
 2 Avenue de Lafayette/LCC 1
 Boston, MA  02111
 Attention:  Ann M. Kelly
 Telephone:  617-662-7126
 Telecopy:
        617-662-0660
  Such notice, instruction or other instrument shall be deemed to have been served in the case of a registered letter at the expiration of five business days after posting, in the case of cable twenty-four hours after dispatch and, in the case of telex, immediately on dispatch and if delivered outside normal business hours it shall be deemed to have been received at the next time after delivery when normal business hours commence and in the case of cable, telex or telecopy on the business day after the receipt thereof.  Evidence that the notice was properly addressed, stamped and put into the post shall be conclusive evidence of posting.  SECTION 24.
        REPRODUCTION OF DOCUMENTS
  This Agreement and all schedules, addenda, exhibits, attachments and amendments hereto may be reproduced by any photographic, photostatic, microfilm, micro-card, miniature photographic or other similar process.  The parties hereto all/each agree that any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding, whether or not the original is in existence and whether or not such reproduction was made by a party in the regular course of business, and that any    enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence.  SECTION 25.
        THE PARTIES
  All references herein to the Fund are to each of the management investment companies listed on Appendix A hereto, and each management investment company made subject to this Agreement in accordance with Section 18 above, individually, as if this Agreement were between such individual Fund and the Custodian.  In the case of a series corporation, trust or other entity, all references herein to the Portfolio are to the individual series or portfolio of such corporation, trust or other entity, or to such corporation, trust or other entity on behalf of the individual series or portfolio, as appropriate, made subject to this Agreement in accordance with Section 19 above.  Any reference in this Agreement to the parties shall mean the Custodian and such other individual Fund as to which the matter pertains.  On behalf of each Fund that is organized as a Massachusetts business trust, notice is hereby given that a copy of the Agreement and Declaration of Trust of the Fund is on file with the Secretary of State of The Commonwealth of Massachusetts, and that this Agreement is executed by an officer of the Fund, as an officer and not individually, on behalf of the trustees of the Fund, as trustees and not individually, and that the obligations of this Agreement with respect to the Fund shall be binding upon the assets and properties of the Fund only and shall not be binding upon any of the trustees, officers, employees, agents or shareholders of the Fund individually.  SECTION 26.
        REMOTE ACCESS SERVICES ADDENDUM
  The Custodian and each Fund agree to be bound by the terms of the Remote Access Services Addendum attached hereto.  SECTION 27.
        COUNTERPARTS
  This Agreement may be signed in counterparts, all of which shall constitute but one and the same instrument.  SECTION 28.
        SEVERABILITY
  Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be deemed prohibited or invalid under such applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, and such prohibition or invalidity shall not invalidate the remainder of such provision or the other provisions of this Agreement.  SECTION 29.
        CONFIDENTIALITY
  The parties hereto agree that each shall treat confidentially all information provided by each    party to the other party regarding its business and operations.  All confidential information provided by a party hereto shall be used by any other party hereto solely for the purpose of rendering services pursuant to this Agreement and, except as may be required in carrying out this Agreement, shall not be disclosed to any third party without the prior written consent of the party providing the information.  In addition, during the term of this Agreement, the Custodian will maintain policies reasonably designed to prohibit the Custodian and its employees from engaging in securities transactions based on knowledge of the Funds portfolio holdings  The foregoing shall not be applicable to any information that is (i) publicly available when provided or thereafter becomes publicly available, other than through a breach of this Agreement, or that is independently derived by any party hereto without the use of any information provided by the other party hereto in connection with this Agreement, (ii) aggregated, without reference to such Fund, in whole or in part, with other client information for the Custodians own marketing, reporting or other purposes, or (iii) required in any legal or regulatory proceeding, investigation, audit, examination, subpoena, civil investigative demand or other similar process, or by operation of law or regulation.  SECTION 30.
        PROVISIONS SURVIVING TERMINATION
  The provisions of Sections 10, 14, 16, 21 and 29 of this Agreement shall survive termination of this Agreement for any reason.  SECTION 31.
        SHAREHOLDER COMMUNICATIONS ELECTION
  SEC Rule 14b-2 requires banks which hold securities for the account of customers to  respond to requests by issuers of securities for the names, addresses and holdings of beneficial owners of securities of that issuer held by the bank unless the beneficial owner has expressly objected to disclosure of this information.  In order to comply with the rule, the Custodian needs each Fund to indicate whether it authorizes the Custodian to provide such Funds name, address, and share position to requesting companies whose securities the Fund owns.  If a Fund tells the Custodian no, the Custodian will not provide this information to requesting companies.  If a Fund tells the Custodian yes or does not check either yes or no below, the Custodian is required by the rule to treat a Fund as consenting to disclosure of this information for all securities owned by the
Fund or any funds or accounts established by the Fund.  For a Funds protection, the Rule prohibits the requesting company from using the Funds name and address for any purpose other than corporate communications.  Please indicate below whether each Fund consents or objects by checking one of the alternatives below.  YES o
        The Custodian is authorized to release the Funds name, address, and share positions.
  NOx
        The Custodian is not authorized to release the Funds name, address, and share positions.
      IN WITNESS WHEREOF, each of the parties has caused this instrument to be executed in its name and behalf by its duly authorized representative and its seal to be hereunder affixed as of  the date written on page one of this Agreement.  EACH REGISTERED INVESTMENT COMPANY
        FUND SIGNATURE ATTESTED TO BY:
 IDENTIFIED ON APPENDIX A ATTACHED
   By:
        /s/John Millette
        By:
        /s/Caroline Pearson
 Name:
        John Millette
        Name:
        Caroline Pearson
 Title:
        Secretary
        Title:
        Assistant Secretary
   STATE STREET BANK AND TRUST COMPANY
        SIGNATURE ATTESTED TO BY:
   By:
        /s/Joseph L. Hooley
        By:
        /s/Matthew J. Kelly
 Name:
        Joseph L. Hooley
        Name:
        Matthew J. Kelly
 Title:
        Executive Vice President
        Title:
        Vice President
        and Counsel
     APPENDIX A To Master Custodian Agreement dated March 22, 2007 NEW YORK BOARD FUNDS  CASH MANAGEMENT PORTFOLIO  CASH RESERVE FUND, INC.,and its series: Prime Series Tax-Free Series Treasury Series  DWS ADVISOR FUNDS, and its series: Cash Management Fund Investment DWS Core Fixed Income Fund DWS High Income Plus Fund DWS International Equity Fund DWS Lifecycle Long Range Fund DWS Micro Cap Fund DWS Mid Cap Growth Fund DWS RREEF Real Estate Securities Fund DWS Short Duration Fund DWS Short DurationPlus Fund DWS Short-Term Municipal Bond Fund DWS Small Cap Growth Fund Money Market Fund Investment NY Tax Free Money Fund Investment Tax Free Money Fund Investment Treasury Money Fund Investment  DWS ALLOCATION SERIES,and its series: DWS Conservative Allocation Fund DWS Growth Allocation Fund DWS Growth Plus Allocation Fund DWS Moderate Allocation Fund DWS COMMUNICATIONS FUND, INC.  DWS EQUITY PARTNERS FUND, INC.  DWS EQUITY 500 INDEX PORTFOLIO  DWS FUNDS TRUST,and its series: DWS Short Term Bond Fund  DWS INCOME TRUST,and its series: DWS GNMA Fund    DWS INSTITUTIONAL FUNDS,and its series: Cash Management Fund Institutional Cash Reserves Fund Institutional Daily Assets Fund Institutional DWS Commodity Securities Fund DWS EAFE Equity Index Fund DWS Equity 500 Index Fund DWS Inflation Protected Plus Fund DWS U.S. Bond Index Fund Treasury Money Fund  DWS INTERNATIONAL EQUITY PORTFOLIO  DWS INVESTMENT TRUST,and its series: DWS Capital Growth Fund DWS Growth & Income Fund DWS Large Company Growth Fund DWS S&P 500 Index Fund DWS Small Cap Core Fund  DWS INVESTMENTS VIT TRUST,and its series: DWS Equity 500 Index VIP DWS RREEF Real Estate Securities VIP DWS Small Cap Index VIP  DWS MONEY MARKET TRUST,and its series: DWS Money Market Series  DWS MUNICIPAL TRUST,and its series: DWS High Yield Tax Free Fund DWS Managed Municipal Bond Fund  DWS PORTFOLIO TRUST,and its series: DWS Core Plus Income Fund  DWS RREEF REAL ESTATE FUND, INC.  DWS RREEF REAL ESTATE FUND II, INC.  DWS SECURITIES TRUST,and its series: DWS Health Care Fund DWS Small Cap Value Fund  DWS STATE TAX FREE TRUST,and its series: DWS Massachusetts Tax-Free Fund  DWS TAX FREE MONEY FUND  DWS TAX FREE TRUST,and its series: DWS Intermediate Tax/AMT Free Fund  TREASURY MONEY PORTFOLIO  DWS U.S. TREASURY MONEY FUND DWS VALUE BUILDER FUND, INC.    DWS VALUE EQUITY TRUST,and its series: DWS Enhanced S&P 500 Index Fund DWS Equity Income Fund  DWS VARIABLE SERIES I,and its series: DWS Bond VIP DWS Capital Growth VIP DWS Growth & Income VIP DWS Health Care VIP


STATE STREET
        SCHEDULE A
 GLOBAL CUSTODY NETWORK
 SUBCUSTODIANS
   Country
        Subcustodian
   Argentina
        Citibank, N.A.
   Australia
        Westpac Banking Corporation
  Citibank Pty. Limited
   Austria
        Erste Bank der Österreichischen Sparkassen AG
   Bahrain
        HSBC Bank Middle East
 (as delegate of the Hongkong and Shanghai Banking Corporation Limited)
   Bangladesh
        Standard Chartered Bank
   Belgium
        BNP Paribas Securities Services, S.A.
   Benin
        via Société Générale de Banques en Côte dIvoire, Abidjan, Ivory Coast
   Bermuda
        The Bank of Bermuda Limited
   Botswana
        Barclays Bank of Botswana Limited
   Brazil
        Citibank, N.A.
   Bulgaria
        ING Bank N.V.
   Burkina Faso
        via Société Générale de Banques en Côte dIvoire, Abidjan, Ivory Coast
   Canada
        State Street Trust Company Canada
   Cayman Islands
        Scotiabank & Trust (Cayman) Limited
   Chile
        BankBoston, N.A.
   Peoples Republic
        The Hongkong and Shanghai Banking Corporation Limited,
   12/31/06
        1
    STATE STREET
        SCHEDULE A
 GLOBAL CUSTODY NETWORK
 SUBCUSTODIANS
   Country
        Subcustodian
   of China
        Shanghai and Shenzhen branches
   Colombia
        Cititrust Colombia S.A. Sociedad Fiduciaria
   Costa Rica
        Banco BCT S.A.
   Croatia
        Privredna Banka Zagreb d.d
   Cyprus
        Marfin Popular Bank Public Company Ltd.
   Czech Republic
        Ceskoslovenská Obchodní Banka, A.S.
   Denmark
        Skandinaviska Enskilda Bankken AB, Sweden (operating through its Copenhagen branch)
   Ecuador
        Banco de la Producción S.A. PRODUBANCO
   Egypt
        HSBC Bank Egypt S.A.E.
 (as delegate of The Hongkong and Shanghai Banking Corporation Limited)
   Estonia
        AS Hansabank
   Finland
        Skandinaviska Enskilda Bankken AB, Sweden (operating through its Helsinki branch)
   France
        BNP Paribas Securities Services, S.A.
  Deutsche Bank AG, Netherlands (operating through its Paris branch)
   Germany
        Deutsche Bank AG
   Ghana
        Barclays Bank of Ghana Limited
   Greece
        National Bank of Greece S.A.
   12/31/06
        2
    STATE STREET
        SCHEDULE A
 GLOBAL CUSTODY NETWORK
 SUBCUSTODIANS
   Country
        Subcustodian
    Guinea-Bissau
        via Société Générale de Banques en Côte dIvoire, Abidjan, Ivory Coast
   Hong Kong
        Standard Chartered Bank (Hong Kong) Limited
   Hungary
        HVB Bank Hungary Rt.
   Iceland
        Kaupthing Bank hf.
   India
        Deutsche Bank AG
  The Hongkong and Shanghai Banking Corporation Limited
   Indonesia
        Deutsche Bank AG
   Ireland
        Bank of Ireland
   Israel
        Bank Hapoalim B.M.
   Italy
        BNP Paribas Securities Services, S.A.
  Deutsche Bank S.p.A.
   Ivory Coast
        Société Générale de Banques en Côte dIvoire
   Jamaica
        Bank of Nova Scotia Jamaica Ltd.
   Japan
        Mizuho Corporate Bank Ltd.
  Sumitomo Mitsui Banking Corporation
   Jordan
        HSBC Bank Middle East
 (as delegate of the Hongkong and Shanghai Banking Corporation Limited)
    12/31/06
        3
    STATE STREET
        SCHEDULE A
 GLOBAL CUSTODY NETWORK
 SUBCUSTODIANS
   Country
        Subcustodian
   Kazakhstan
        HSBC Bank Kazakhstan
 (as delegate of the Hongkong and Shanghai Banking Corporation Limited)
   Kenya
        Barclays Bank of Kenya Limited
   Republic of Korea
        Deutsche Bank AG
  The Hongkong and Shanghai Banking Corporation Limited
   Latvia
        A/s Hansabanka
   Lebanon
        HSBC Bank Middle East
 (as delegate of The Hongkong and Shanghai Banking Corporation Limited)
   Lithuania
        SEB Vilniaus Bankas AB
   Malaysia
        Standard Chartered Bank Malaysia Berhad
   Mali
        via Société Générale de Banques en Côte dIvoire, Abidjan, Ivory Coast
   Malta
        The Hongkong and Shanghai Banking Corporation Limited
   Mauritius
        The Hongkong and Shanghai Banking Corporation Limited
   Mexico
        Banco Nacional de México S.A.
   Morocco
        Attijariwafa bank
   Namibia
        Standard Bank Namibia Limited
        -
   Netherlands
        Deutsche Bank AG
     12/31/06
        4
    STATE STREET
        SCHEDULE A
 GLOBAL CUSTODY NETWORK
 SUBCUSTODIANS
   Country
        Subcustodian
   New Zealand
        Westpac Banking Corporation
   Niger
        via Société Générale de Banques en Côte dIvoire, Abidjan, Ivory Coast
   Nigeria
        Stanbic Bank Nigeria Limited
   Norway
        Skandinaviska Enskilda Bankken AB, Sweden (operating through its Oslo branch)
   Oman
        HSBC Bank Middle East Limited
 (as delegate of The Hongkong and Shanghai Banking Corporation Limited)
   Pakistan
        Deutsche Bank AG
   Palestine
        HSBC Bank Middle East Limited
 (as delegate of The Hongkong and Shanghai Banking Corporation Limited)
   Panama
        HSBC Bank (Panama) S.A.
   Peru
        Citibank del Péru, S.A.
   Philippines
        Standard Chartered Bank
   Poland
        Bank Handlowy w Warszawie S.A.
   Portugal
        Banco Comercial Português S.A.
   Puerto Rico
        Citibank N.A.
   Qatar
        HSBC Bank Middle East Limited
 (as delegate of The Hongkong and Shanghai Banking Corporation Limited)
   Romania
        ING Bank N.V.
    12/31/06
        5
    STATE STREET
        SCHEDULE A
 GLOBAL CUSTODY NETWORK
 SUBCUSTODIANS
   Country
        Subcustodian
   Russia
        ING Bank (Eurasia) ZAO, Moscow
   Senegal
        via Société Générale de Banques en Côte dIvoire, Abidjan, Ivory Coast
   Serbia
        HVB Bank Serbia and Montenegro a.d.
  Singapore
        DBS Bank Limited
  United Overseas Bank Limited
   Slovak Republic
        Ceskoslovenská Obchodní Banka, A.S., pobocka zahranicnej banky v SR
   Slovenia
        Bank Austria Creditanstalt d.d. - Ljubljana
   South Africa
        Nedbank Limited
  Standard Bank of South Africa Limited
   Spain
        Deutsche Bank S.A.E.
   Sri Lanka
        The Hongkong and Shanghai Banking Corporation Limited
   Swaziland
        Standard Bank Swaziland Limited
   Sweden
        Skandinaviska Enskilda Banken AB
   Switzerland
        UBS AG
   Taiwan - R.O.C.
        Central Trust of China
   Thailand
        Standard Chartered Bank (Thai) Public Company Limited
   Togo
        via Société Générale de Banques en Côte dIvoire, Abidjan, Ivory Coast
    12/31/06
        6
    STATE STREET
        SCHEDULE A
 GLOBAL CUSTODY NETWORK
 SUBCUSTODIANS
   Country
        Subcustodian
   Trinidad & Tobago
        Republic Bank Limited
   Tunisia
        Banque Internationale Arabe de Tunisie
   Turkey
        Citibank, A.S.
   Uganda
        Barclays Bank of Uganda Limited
   Ukraine
        ING Bank Ukraine
   United Arab Emirates
        HSBC Bank Middle East Limited
 (as delegate of The Hongkong and Shanghai Banking Corporation Limited)
  United Kingdom
        State Street Bank and Trust Company, United kingdom Branch
   Uruguay
        BankBoston, N.A.
   Venezuela
        Citibank, N.A.
   Vietnam
        The Hongkong and Shanghai Banking Corporation Limited
   Zambia
        Barclays Bank of Zambia Plc.
   Zimbabwe
        Barclays Bank of Zimbabwe Limited
    12/31/06
        7


STATE STREET
        SCHEDULE B
 GLOBAL CUSTODY NETWORK
 DEPOSITORIES OPERATING IN NETWORK MARKETS
   Country
        Depositories
   Argentina
        Caja de Valores S.A.
   Australia
        Austraclear Limited
   Austria
        Oesterreichische Kontrollbank AG
 (Wertpapiersammelbank Division)
   Bahrain
        Clearing, Settlement, and Depository System of the Bahrain Stock Exchange
   Bangladesh
        Central Depository Bangladesh Limited
   Belgium
        Banque Nationale de Belgique
  Euroclear Belgium
   Benin
        Dépositaire Central  Banque de Règlement
   Bermuda
        Bermuda Securities Depository
   Brazil
        Central de Custódia e de Liquidação Financeira de Títulos Privados (CETIP)
  Companhia Brasileira de Liquidação e Custódia
  Sistema Especial de Liquidação e de Custódia (SELIC)
   Bulgaria
        Bulgarian National Bank
  Central Depository AD
   Burkina Faso
        Dépositaire Central  Banque de Règlement
   Canada
        The Canadian Depository for Securities Limited
   Chile
        Depósito Central de Valores S.A.
   1 12/31/06    STATE STREET
        SCHEDULE B
 GLOBAL CUSTODY NETWORK
 DEPOSITORIES OPERATING IN NETWORK MARKETS
   Country
        Depositories
    Peoples Republic
        China Securities Depository and Clearing Corporation Limited
 of China
        Shanghai Branch
  China Securities Depository and Clearing Corporation Limited
 Shenzhen Branch
   Colombia
        Depósito Central de Valores
  Depósito Centralizado de Valores de Colombia S..A. (DECEVAL)  Costa Rica
        Central de Valores S.A.
   Croatia
        Sredinja Depozitarna Agencija d.d.
   Cyprus
        Central Depository and Central Registry
   Czech Republic
        Czech National Bank
  Stredisko cenných papíru  Ceská republika
   Denmark
        Værdipapircentralen (Danish Securities Center)
   Egypt
        Misr for Clearing, Settlement, and Depository S.A.E.
  Central Bank of Egypt
   Estonia
        AS Eesti Väärtpaberikeskus
   Finland
        Suomen Arvopaperikeskus Oy
   France
        Euroclear France
   Germany
        Clearstream Banking AG, Frankfurt
   2 12/31/06    STATE STREET
        SCHEDULE B
 GLOBAL CUSTODY NETWORK
 DEPOSITORIES OPERATING IN NETWORK MARKETS
   Country
        Depositories
   Greece
        Apothetirion Titlon AE - Central Securities Depository
  Bank of Greece,
 System for Monitoring Transactions in Securities in Book-Entry Form
   Guinea-Bissau
        Dépositaire Central  Banque de Règlement
   Hong Kong
        Central Moneymarkets Unit
  Hong Kong Securities Clearing Company Limited
   Hungary
        Központi Elszámolóház és Értéktár (Budapest) Rt. (KELER)
   Iceland
        Icelandic Securities Depository Limited
   India
        Central Depository Services (India) Limited
  National Securities Depository Limited
  Reserve Bank of India
   Indonesia
        Bank Indonesia
  PT Kustodian Sentral Efek Indonesia
   Israel
        Tel Aviv Stock Exchange Clearing House Ltd. (TASE Clearinghouse)
   Italy
        Monte Titoli S.p.A.
   Ivory Coast
        Dépositaire Central  Banque de Règlement
   Jamaica
        Jamaica Central Securities Depository
   Japan
        Bank of Japan  - Net System
   3 12/31/06    STATE STREET
        SCHEDULE B
 GLOBAL CUSTODY NETWORK
 DEPOSITORIES OPERATING IN NETWORK MARKETS
   Country
        Depositories
   Japan Securities Depository Center (JASDEC) Incorporated
   Jordan
        Securities Depository Center
   Kazakhstan
        Central Securities Depository
   Kenya
        Central Depository and Settlement Corporation Limited
  Central Bank of Kenya
   Republic of Korea
        Korea Securities Depository
   Latvia
        Latvian Central Depository
   Lebanon
        Banque du Liban
  Custodian and Clearing Center of Financial Instruments
 for Lebanon and the Middle East (Midclear) S.A.L.
   Lithuania
        Central Securities Depository of Lithuania
   Malaysia
        Bank Negara Malaysia
  Bursa Malaysia Depository Sdn. Bhd.
   Mali
        Dépositaire Central  Banque de Règlement
   Malta
        Central Securities Depository of the Malta Stock Exchange
   Mauritius
        Bank of Mauritius
  Central Depository and Settlement Co. Ltd.
   Mexico
        S.D. INDEVAL, S.A. de C.V.
   4 12/31/06    STATE STREET
        SCHEDULE B
 GLOBAL CUSTODY NETWORK
 DEPOSITORIES OPERATING IN NETWORK MARKETS
   Country
        Depositories
    Morocco
        Maroclear
   Namibia
        Bank of Namibia
   Netherlands
        Euroclear Nederland
   New Zealand
        New Zealand Central Securities Depository Limited
   Niger
        Dépositaire Central  Banque de Règlement
   Nigeria
        Central Securities Clearing System Limited
   Norway
        Verdipapirsentralen (Norwegian Central Securities Depository)
   Oman
        Muscat Depository & Securities Registration Company, SAOC
   Pakistan
        Central Depository Company of Pakistan Limited
  State Bank of Pakistan
   Palestine
        Clearing, Depository and Settlement, a department
 of the Palestine Stock Exchange
   Panama
        Central Latinoamericana de Valores, S.A. (LatinClear)
   Peru
        Caja de Valores y Liquidaciones, Institución de
 Compensación y Liquidación de Valores S.A
   Philippines
        Philippine Depository & Trust Corporation
  Registry of Scripless Securities (ROSS) of the Bureau of Treasury
   5 12/31/06    STATE STREET
        SCHEDULE B
 GLOBAL CUSTODY NETWORK
 DEPOSITORIES OPERATING IN NETWORK MARKETS
   Country
        Depositories
    Poland
        Rejestr Papierów Wartosciowych
  Krajowy Depozyt Papierów Wartos ́ciowych S.A.
   Portugal
        INTERBOLSA  Sociedade Gestora de Sistemas de Liquidação
 e de Sistemas Centralizados de Valores Mobiliários, S.A.
   Qatar
        Central Clearing and Registration (CCR), a
 department of the Doha Securities Market
   Romania
        Bucharest Stock Exchange Registry Division
  National Bank of Romania
   Russia
        Vneshtorgbank, Bank for Foreign Trade of the Russian Federation
   Senegal
        Dépositaire Central  Banque de Règlement
   Serbia
        Central Registrar and Central Depository for Securities
   Singapore
        The Central Depository (Pte) Limited
  Monetary Authority of Singapore
   Slovak Republic
        Náodná banka slovenska
  Centralny depozitar cenných papierov SR, a.s.
   Slovenia
        KDD  Centralna klirinsko depotna druzba d.d.
   South Africa
        Share Transactions Totally Electronic (STRATE) Ltd.
    6 12/31/06    STATE STREET
        SCHEDULE B
 GLOBAL CUSTODY NETWORK
 DEPOSITORIES OPERATING IN NETWORK MARKETS
   Country
        Depositories
   Spain
        IBERCLEAR
   Sri Lanka
        Central Depository System (Pvt) Limited
   Sweden
        Värdepapperscentralen  VPC AB
 (Swedish Central Securities Depository)
   Switzerland
        SegaIntersettle AG (SIS)
   Taiwan - R.O.C.
        Taiwan Depository and Clearing Corporation
   Thailand
        Thailand Securities Depository Company Limited
   Togo
        Dépositaire Central  Banque de Règlement
   Trinidad and Tobago
        Trinidad and Tobago Central Bank
   Tunisia
        Société Tunisienne Interprofessionelle pour la Compensation
 et de Dépôts des Valeurs Mobilières (STICODEVAM)
   Turkey
        Central Bank of Turkey
  Central Registry Agency
   Uganda
        Bank of Uganda
   Ukraine
        Mizhregionalny Fondovy Souz
  National Bank of Ukraine
   United Arab Emirates
        Clearing and Depository System,
 a department of the Dubai Financial Market
    7 12/31/06    STATE STREET
        SCHEDULE B
 GLOBAL CUSTODY NETWORK
 DEPOSITORIES OPERATING IN NETWORK MARKETS
   Country
        Depositories
   United Kingdom
        CrestCo.
   Uruguay
        Banco Central del Uruguay
   Venezuela
        Banco Central de Venezuela
  Caja Venezolana de Valores
   Vietnam
        Vietnam Securities Depository
   Zambia
        Bank of Zambia
  LuSE Central Shares Depository Limited
    TRANSNATIONAL  Euroclear  Clearstream Banking, S.A.     8 12/31/06


SCHEDULE C  MARKET INFORMATION  Publication/Type of Information
        Brief Description
 (scheduled frequency)  The Guide to Custody in World Markets
        An overview of settlement and safekeeping procedures,
 (hardcopy annually and regular
        custody practices and foreign investor considerations for the
 website updates)
        markets in which State Street offers custodial services.
  Global Custody Network Review
        Information relating to Foreign Sub-Custodians in State Streets
 (annually)
        Global Custody Network.  The Review stands as an integral part of the materials that State Street provides to its U.S. mutual fund clients to assist them in complying with SEC Rule 17f-5. The Review also gives insight into State Streets market expansion and Foreign Sub-Custodian selection processes, as well as the procedures and controls used to monitor the financial condition and performance of our Foreign Sub-Custodian banks.
  Securities Depository Review
        Custody risk analyses of the Foreign Securities Depositories
 (annually)
        presently operating in Network markets.  This publication is an integral part of the materials that State Street provides to its U.S. mutual fund clients to meet informational obligations created by SEC Rule 17f-7.
  Global Legal Survey
        With respect to each market in which State Street offers custodial
 (annually)
        services, opinions relating to whether local law restricts (i) access of a funds independent public accountants to books and records of a Foreign Sub-Custodian or Foreign Securities System, (ii) a funds ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) a funds ability to recover in the event of a loss by a Foreign Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars.
  Subcustodian Agreements
        Copies of the contracts that State Street has entered into with each
 (annually)
        Foreign Sub-Custodian that maintains U.S. mutual fund assets in the markets in which State Street offers custodial services.
  Global Market Bulletin
        Information on changing settlement and custody conditions in
 (daily or as necessary)
        markets where State Street offers custodial services.
 Includes changes in market and tax regulations, depository developments, dematerialization information, as well as other market changes that may impact State Streets clients.  Foreign Custody Advisories
        For those markets where State Street offers custodial
 (as necessary)
        services that exhibit special risks or infrastructures impacting
 custody, State Street issues market advisories to highlight
 those unique market factors which might impact our ability to
 offer recognized custody service levels.
  Material Change Notices
        Informational letters and accompanying materials confirming
 (presently on a quarterly
        State Streets foreign custody arrangements, including a
 basis or as otherwise necessary)
        summary of material changes with Foreign Sub-Custodians that have
 occurred during the previous quarter. The notices also identify any material changes in the custodial risks associated with maintaining assets with Foreign Securities Depositories.


SCHEDULE D  to  Master Custodian Agreement  of March 22, 2007 Between State Street Bank and Trust Company and Each Registered Investment Company Identified on Appendix A   TRI-PARTY REPO CUSTODIAN BANKS
        ACCOUNT NUMBERS
  The Bank of New York
 The Chase Manhattan Bank
        Authorized Signatures:
  By:  _______________________________
        By:  _________________________
  Title: ______________________________
        Title:  ________________________
  Date:  _____________________________
        Date:  ________________________


FUNDSTRANSFERADDENDUM [STATE STREET LOGO]  OPERATING GUIDELINES  1.OBLIGATION OF THE SENDER: State Street is authorized to promptly debit Clients account(s) upon the receipt of a payment order in compliance with the selected Security Procedure chosen for funds transfer and in the amount of money that State Street has been instructed to transfer.  State Street shall execute payment orders in compliance with the Security Procedure and with the Client's instructions on the execution date provided that such payment order is received by the customary deadline for processing such a request, unless the payment order specifies a later time.  All payment orders and communications received after this time will be deemed to have been received on the next business day.  2.SECURITY PROCEDURE: The Client acknowledges that the Security Procedure it has designated on the Selection Form was selected by the Client from Security Procedures offered by State Street.  The Client agrees that the Security Procedures are reasonable and adequate for its wire transfer transactions and agrees to be bound by any payment orders, amendments and cancellations, whether or not authorized, issued in its name and accepted by State Street after being confirmed by any of the selected Security Procedures.  The Client also agrees to be bound by any other valid and authorized payment order accepted by State Street.The Client shall restrict access to confidential information relating to the Security Procedure to authorized persons as
communicated in writing to State Street.  The Client must notify State Street immediately if it has reason to believe unauthorized persons may have obtained access to such information or of any change in the Clients authorized personnel.  State Street shall verify the authenticity of all instructions according to the Security Procedure.  3.ACCOUNT NUMBERS:State Street shall process all payment orders on the basis of the account number contained in the payment order.  In the event of a discrepancy between any name indicated on the payment order and the account number, the account number shall take precedence and govern. Financial institutions that receive payment orders initiated by State Street at the instruction of the Client may also process payment orders on the basis of account numbers, regardless of any name included in the payment order.  State Street will also rely on any financial institution identification numbers included in any payment order, regardless of any financial institution name included in the payment order.  4.REJECTION:State Street reserves the right to decline to process or delay the processing of a payment order which (a) is in excess of the collected balance in the account to be charged at the time of State Streets receipt of such payment order; (b) if initiating such payment order would cause State Street, in State Streets sole judgment, to exceed any volume, aggregate dollar, network, time, credit or similar limits upon wire transfers which are applicable to State Street; or (c) if State Street, in good faith, is unable to satisfy itself that the transaction has been properly authorized.  5.CANCELLATIONOR AMENDMENT: State Street shall use reasonable efforts to act on all authorized requests to cancel or amend payment orders received in compliance with the Security Procedure provided that such requests are received in a timely manner affording State Street reasonable opportunity to act.  However, State Street assumes no liability if the request for amendment or cancellation cannot be satisfied.  6.ERRORS:State Street shall assume no responsibility for failure to detect any erroneous payment order provided that State Street complies with the payment order instructions as received and State Street complies with the Security Procedure.  The Security Procedure is established for the purpose of authenticating payment orders only and not for the detection of errors in payment orders.  7.INTEREST AND LIABILITY LIMITS: State Street shall assume no responsibility for lost interest with respect to the refundable amount of any unauthorized payment order, unless State Street is notified of the unauthorized payment order within thirty (30) days of notification by State Street of the acceptance of such payment order.  In no event shall State Street be liable for special, indirect or consequential damages, even if advised of the possibility of such damages and even for failure to execute a payment order.  8.AUTOMATED CLEARING HOUSE ("ACH") CREDIT ENTRIES/PROVISIONAL PAYMENTS: When a Client initiates or receives ACH credit and debit entries pursuant to these Guidelines and the rules of the National Automated Clearing House Association and the New England Clearing House Association, State Street will act as an Originating Depository Financial Institution and/or Receiving Depository Institution, as the case may be, with respect to such entries.  Credits given by State Street with respect to an ACH credit entry are provisional until State Street receives final settlement for such entry from the Federal Reserve Bank.  If State Street does not receive such final settlement, the Client agrees that State Street shall receive a refund of the amount credited to the Client in connection with
such entry, and the party making payment to the Client via such entry shall not be deemed to have paid the amount of the entry.  9.CONFIRMATION STATEMENTS:Confirmation of State Streets execution of payment orders shall ordinarily be provided within 24 hours. Notice may be delivered through State Streets proprietary information systems, such as, but not limited to Horizon and GlobalQuest®, account statements, advices, or by facsimile or callback. The Client must report any objections to the execution of a payment order within 30 days.      FUNDSTRANSFERADDENDUM [STATE STREET LOGO]   10.LIABILITY ON FOREIGN ACCOUNTS:State Street shall not be required to repay any deposit made at a non-U.S. branch of State Street, or any deposit made with State Street and denominated in a non-U.S. dollar currency, if repayment of such deposit or the use of assets denominated in the non-U.S. dollar currency is prevented, prohibited or otherwise blocked due to:  (a) an act of war, insurrection or civil strife; (b)  any action by a non-U.S. government or instrumentality or authority asserting governmental, military or police power of any kind, whether such authority be recognized as a defacto or a dejure government, or by any entity, political or revolutionary movement or otherwise that usurps, supervenes or otherwise materially impairs the normal operation of civil authority;
or(c)  the closure of a non-U.S. branch of State Street in order to prevent, in the reasonable judgment of State Street, harm to the employees or property of State Street.  The obligation to repay any such deposit shall not be transferred to and may not be enforced against any other branch of State Street.  The foregoing provisions constitute the disclosure required by Massachusetts General Laws, Chapter 167D, Section 36.  While State Street is not obligated to repay any deposit made at a non-U.S. branch or any deposit denominated in a non-U.S. currency during the period in which its repayment has been prevented, prohibited or otherwise blocked, State Street will repay such deposit when and if all circumstances preventing, prohibiting or otherwise blocking repayment cease to exist.  11.MISCELLANEOUS:State Street and the Client agree to cooperate to attempt to recover any funds erroneously paid to the wrong party or parties, regardless of any fault of State Street or the Client, but the party responsible for the erroneous payment shall bear all costs and expenses incurred in trying to effect such recovery.  These Guidelines may not be amended except by a written agreement signed by the parties.       FUNDSTRANSFERADDENDUM [STATE STREET LOGO]    Security Procedure(s) Selection Form  Please select one or more of the funds transfer security procedures indicated below.  [
        ]SWIFT
 SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a cooperative society owned and operated by member financial institutions that provides telecommunication services for its membership. Participation is limited to securities brokers and dealers, clearing and depository institutions, recognized exchanges for securities, and investment management institutions. SWIFT provides a number of security features through encryption and authentication to protect against unauthorized access, loss or wrong delivery of messages, transmission errors, loss of confidentiality and fraudulent changes to messages.  SWIFT is considered to be one of the most secure and efficient networks for the delivery of funds transfer instructions. Selection of this security procedure would be most appropriate for existing SWIFT members.  [
        ]Standing Instructions
 Standing Instructions may be used where funds are transferred to a broker on the Clients established list of brokers with  which it engages in foreign exchange transactions. Only the date, the currency and the currency amount are variable. In order to establish this procedure, State Street will send to the Client a list of the brokers that State Street has determined are used by the Client.  The Client will confirm the list in writing, and State Street will verify the written confirmation by telephone. Standing Instructions will be subject to a mutually agreed upon limit. If the payment order exceeds the established limit, the Standing Instruction will be confirmed by telephone prior to execution.  [
        ]Remote Batch Transmission
 Wire transfer instructions are delivered via Computer-to-Computer (CPU-CPU) data communications between the Client and State Street. Security procedures include encryption and or the use of a test key by those individuals authorized as Automated Batch Verifiers. Clients selecting this option should have an existing facility for completing CPU-CPU transmissions. This delivery mechanism is typically used for high-volume business.  [
        ]Global Horizon InterchangesmFunds Transfer Service
 Global Horizon Interchange Funds Transfer Service (FTS) is a State Street proprietary microcomputer-based wire initiation system. FTS enables Clients to electronically transmit authenticated Fedwire, CHIPS or internal book transfer instructions to State Street. This delivery mechanism is most appropriate for Clients with a low-to-medium number of transactions (5-75 per day), allowing Clients to enter, batch, and review wire transfer instructions on their PC prior to release to State Street.  [
        ]Telephone Confirmation (Callback)
 Telephone confirmation will be used to verify all non-repetitive funds transfer instructions received via untested facsimile or phone.  This procedure requires Clients to designate individuals as authorized initiators and authorized verifiers.  State Street will verify that the instruction contains the signature of an authorized person and prior to execution, will contact someone other than the originator at the Clients location to authenticate the instruction. Selection of this alternative is appropriate for Clients who do not have the capability to use other security procedures.  [
        ]Repetitive Wires
 For situations where funds are transferred periodically (minimum of one instruction per calendar quarter) from an existing authorized account to the same payee (destination bank and account number) and only the date and currency amount are variable, a repetitive wire may be implemented.  Repetitive wires will be subject to a mutually agreed upon limit.  If the payment order exceeds the established limit, the instruction will be confirmed by telephone prior to execution.  Telephone confirmation is used to establish this process. Repetitive wire instructions must be reconfirmed annually. This alternative is recommended whenever funds are frequently transferred between the same two accounts.  [
        ]Transfers Initiated by Facsimile
 The Client faxes wire transfer instructions directly to State Street Mutual Fund Services.  Standard security procedure requires the use of a random number test key for all transfers.  Every six months the Client receives test key logs from State Street.  The test key contains alpha-numeric characters, which the Client puts on each document faxed to State Street.  This procedure ensures all wire instructions received via fax are authorized by the Client. We provide this option for Clients who wish to batch wire instructions and transmit these as a group to State Street Mutual Fund Services once or several times a day.     FUNDSTRANSFERADDENDUM [STATE STREET LOGO]  [
        ]Instruct
 Instruct is a State Street web-based application designed to provide internet-enabled remote access that allows for the capturing, verification and processing of various instruction types, including securities, cash and foreign exchange transactions.Instruct is designed using industry standard formats to facilitate straight-through processing.Instruct provides a number of security features through user entitlements, industry standard encryption protocols, digital security certificates and multiple tiers of user authentication requirements.  [
        ]Secure Transport
 Secure Transport is a file transfer application based upon the Secure File Transfer Protocol standard that is designed to enable State Street clients/ investment managers to send file based transfer and transaction instructions over the internet.  Secure Transport features multi-factor authenticators such as SecurID and digital certificates, and incorporates industry-standard encryption protocols.  [
        ]Automated Clearing House (ACH)
 State Street receives an automated transmission or a magnetic tape from a Client for the initiation of payment (credit) or collection (debit) transactions through the ACH network.  The transactions contained on each transmission or tape must be authenticated by the Client. Clients using ACH must select one or more of the following delivery options:  [
        ]Global Horizon Interchange Automated Clearing House Service
 Transactions are created on a microcomputer, assembled into batches and delivered to State Street via fully authenticated     electronic transmissions in standard NACHA formats.  [
        ]Transmission from Client PC to State Street Mainframe with Telephone Callback
  [
        ]Transmission from Client Mainframe to State Street Mainframe with Telephone Callback
  [
        ]Transmission from DST Systems to State Street Mainframe with Encryption
  [
        ]Magnetic Tape Delivered to State Street with Telephone Callback
   State Street is hereby instructed to accept funds transfer instructions only via the delivery methods and security procedures indicated. The selected delivery methods and security procedure(s) will be effective____________for payment orders initiated by our organization.  Key Contact Information  Whom shall we contact to implement your selection(s)?  Client operations contact
        Alternate Contact
  ____________________________________________
        ____________________________________________
 Name
        Name
  ____________________________________________
        ____________________________________________
 Address
        Address
  ____________________________________________
        ____________________________________________
 City/State/Zip Code
        City/State/Zip Code
  ____________________________________________
        ____________________________________________
 Telephone Number
        Telephone Number
  ____________________________________________
        ____________________________________________
 Facsimile Number
        Facsimile Number
  ____________________________________________ SWIFT Number
  ____________________________________________ Telex Number
    FUNDSTRANSFERADDENDUM [STATE STREET LOGO]  INSTRUCTION(S)  TELEPHONE CONFIRMATION  Fund
        ________________________________________________________________________
  Investment Adviser___________________________________________  Authorized Initiators Please Type or Print
  Please provide a listing of Fund officers or other individuals who are currently authorized toINITIATEwire transfer instructions to State Street:  NAME
        TITLE(Specify whether position
        SPECIMEN SIGNATURE
 is with Fund or Investment
 Adviser)
  _________________________________________________                 ___________________________  _________________________________________________                 ___________________________  _________________________________________________                 ___________________________  _________________________________________________                 ___________________________  _________________________________________________                 ___________________________  Authorized Verifiers Please Type or Print
  Please provide a listing of Fund officers or other individuals who will beCALLED BACKto verify the initiation of repetitive wires of $10 million or more and all non-repetitive wire instructions:  NAME
        CALLBACK PHONE NUMBER
        DOLLAR LIMITATION (IF ANY)
  _________________________________________________                 ___________________________  _________________________________________________                 ___________________________  _________________________________________________                 ___________________________  _________________________________________________                 ___________________________  _________________________________________________                 ___________________________


REMOTE ACCESS SERVICES ADDENDUM TO CUSTODIAN CONTRACT  ADDENDUM to that certain Master Custodian Agreement dated as of March 22, 2007  (the Custodian Agreement) between the Funds named therein (the Customer) and State Street Bank and Trust Company, including its subsidiaries and affiliates (State Street).  State Street has developed and utilizes proprietary accounting and other systems in conjunction with the custodian services which State Street provides to the Customer.  In this regard, State Street maintains certain information in databases under its control and ownership which it makes available to its customers (the Remote Access Services).  The Services  State Street agrees to provide the Customer, and its designated investment advisors, consultants or other third parties authorized by State Street (Authorized Designees) with access to In~SightSMas described in Exhibit A or such other systems as may be offered from time to time (the System) on a remote basis.  Security Procedures  The Customer agrees to comply, and to cause its Authorized Designees to comply, with remote access operating standards and procedures and with user identification or other password control requirements and other security procedures as may be issued from time to time by State Street for use of the System and access to the Remote Access Services.  The Customer agrees to advise State Street immediately in the event that it learns or has reason to believe that any person to whom it has given access to the System or the Remote Access Services has violated or intends to violate the terms of this Addendum and the Customer will cooperate with State Street in seeking injunctive or other equitable relief.  The Customer agrees to discontinue use of the System and Remote Access Services, if requested, for any security reasons cited by State Street.  Fees  Fees and charges for the use of the System and the Remote Access Services and related payment terms shall be as set forth in the Custody Fee Schedule in effect from time to time between the parties (the Fee Schedule).  The Customer shall be responsible for any tariffs, duties or taxes imposed or levied by any government or governmental agency by reason of the transactions contemplated by this Addendum, including, without limitation, federal, state and local taxes, use, value added and personal property taxes (other than income, franchise or similar taxes which may be imposed or assessed against State Street).  Any claimed exemption from such tariffs, duties or taxes shall be supported by proper documentary evidence delivered to State Street.  Proprietary Information/Injunctive Relief  The System and Remote Access Services described herein and the databases, computer programs, screen formats, report formats, interactive design techniques, formulae, processes, systems, software, knowhow, algorithms, programs, training aids, printed materials, methods, books, records, files, documentation and other information made available to the Customer by State Street as part of the Remote Access Services and through the use of the System and all copyrights, patents, trade secrets and other proprietary rights of State Street related thereto are the exclusive, valuable and confidential property of State Street and its relevant licensors (the Proprietary Information).  The Customer agrees on behalf of itself and its  i    Authorized Designees to keep the Proprietary Information confidential and to limit access to its employees and Authorized Designees (under a similar duty of confidentiality) who require access to the System for the purposes intended.  The foregoing shall not apply to Proprietary Information in the public domain or required by law to be made public.  The Customer agrees to use the Remote Access Services only in connection with the proper purposes of this Addendum.  The Customer will not, and will cause its employees and Authorized Designees not to, (i) permit any third party to use the System or the Remote Access Services, (ii) sell, rent, license or otherwise use the System or the Remote Access Services in the operation of a service bureau or for any purpose other than as expressly authorized under this Addendum, (iii) use the System or the Remote Access Services for any fund, trust or other investment vehicle without the prior written consent of State Street, or (iv) allow or cause any information transmitted from State Street's databases, including data from third party sources, available through use of the System or the Remote Access Services, to be published, redistributed or retransmitted for other than use for or on behalf of the Customer, as
State Streets customer.  The Customer agrees that neither it nor its Authorized Designees will modify the System in any way; enhance or otherwise create derivative works based upon the System; nor will the Customer or Customers Authorized Designees reverse engineer, decompile or otherwise attempt to secure the source code for all or any part of the System.  The Customer acknowledges that the disclosure of any Proprietary Information, or of any information which at law or equity ought to remain confidential, will immediately give rise to continuing irreparable injury to State Street inadequately compensable in damages at law and that State Street shall be entitled to obtain immediate injunctive relief against the breach or threatened breach of any of the foregoing undertakings, in addition to any other legal remedies which may be available.  Limited Warranties  State Street represents and warrants that it is the owner of and has the right to grant access to the System and to provide the Remote Access Services contemplated herein.  Because of the nature of computer information technology, including but not limited to the use of the Internet, and the necessity of relying upon third party sources, and data and pricing information obtained from third parties, the System and Remote Access Services are provided AS IS, and the Customer and its Authorized Designees shall be solely responsible for the investment decisions, results obtained, regulatory reports and statements produced using the Remote Access Services.  State Street and its relevant licensors will not be liable to the Customer or its Authorized Designees for any direct or indirect, special, incidental, punitive or consequential damages arising out of or in any way connected with the System or the
Remote Access Services, nor shall either party be responsible for delays or nonperformance under this Addendum arising out of any cause or event beyond such partys control.  State Street will take reasonable steps to ensure that its products (and those of its third-party suppliers) reflect the available state of the art technology to offer products that are Year 2000 compliant, including, but not limited to, century recognition of dates, calculations that correctly compute same century and multi century formulas and date values, and interface values that reflect the date issues arising between now and the next one-hundred years, and if any changes are required, State Street will make the changes to its products at no cost to you and in a commercially reasonable time frame and will require third-party suppliers to do likewise.  The Customer will do likewise for its systems.   ii    EXCEPT AS EXPRESSLY SET FORTH IN THIS ADDENDUM, STATE STREET, FOR ITSELF AND ITS RELEVANT LICENSORS, EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES CONCERNING THE SYSTEM AND THE SERVICES TO BE RENDERED HEREUNDER, WHETHER EXPRESS OR IMPLIED INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE.  Infringement  State Street will defend or, at our option, settle any claim or action brought against the Customer to the extent that it is based upon an assertion that access to the System or use of the Remote Access Services by the Customer under this Addendum constitutes direct infringement of any patent or copyright or misappropriation of a trade secret, provided that the Customer notifies State Street promptly in writing of any such claim or proceeding and cooperates with State Street in the defense of such claim or proceeding.  Should the System or the Remote Access Services or any part thereof become, or in State Streets opinion be likely to become, the subject of a claim of infringement or the like under any applicable patent or copyright or trade secret laws, State Street shall have the right, at State Street's sole option, to (i) procure for the Customer the right to continue using the System or the Remote
Access Services, (ii) replace or modify the System or the Remote Access Services so that the System or the Remote Access Services becomes noninfringing, or (iii) terminate this Addendum without further obligation.  Termination  Either party to the Custodian Agreement may terminate this Addendum (i) for any reason by giving the other party at least one-hundred and eighty (180) days' prior written noticein the case of notice of termination by State Street to the Customer or thirty (30) days' notice in the case of notice from the Customer to State Street of termination, or (ii) immediately for failure of the other party to comply with any material term and condition of the Addendum by giving the other party written notice of termination.  This Addendum shall in any event terminate within ninety (90) days after the termination of the Custodian Agreement.  In the event of termination, the Customer will return to State Street all copies of documentation and other confidential information in its possession or in the possession of its Authorized Designees.  The foregoing provisions with
respect to confidentiality and infringement will survive termination for a period of three (3) years.  Miscellaneous  This Addendum and the exhibits hereto constitute the entire understanding of the parties to the Custodian Agreement with respect to access to the System and the Remote Access Services.  This Addendum cannot be modified or altered except in a writing duly executed by each of State Street and the Customer and shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts.  By its execution of the Custodian Agreement, the Customer accepts responsibility for its and its Authorized Designees compliance with the terms of this Addendum.   iii    EXHIBIT A to REMOTE ACCESS SERVICES ADDENDUM TO CUSTODIAN CONTRACT  IN~SIGHTSM System Product Description  In~SightSMprovides bilateral information delivery, interoperability, and on-line access to State Street.  In~SightSM allows users a single point of entry into State Streets  diverse systems and applications.  Reports and data from systems such as Investment Policy MonitorSM, Multicurrency HorizonSM, Securities Lending, Performance & Analytics, and Electronic Trade Delivery can be accessed through In~SightSM.  This Internet-enabled application is designed to run from a Web browser and perform across low-speed data lines or corporate high-speed backbones. In~SightSM also offers users a flexible toolset, including an ad-hoc query function, a custom graphics package, a report designer, and a scheduling capability.  Data and reports offered through In~SightSM will continue to increase in direct
proportion with the customer roll out, as it is viewed as the information delivery system will grow with State Streets customers.    iv