FORM OF


                                 [NAME OF FUND]

                     AMENDED SHAREHOLDER SERVICES AGREEMENT



1.   The parties to this Agreement,  which is effective as of April 1, 2003, are
     [name of fund]  (hereinafter  called "the Fund") and American Funds Service
     Company,  a California  corporation  (hereinafter  called "AFS").  AFS is a
     wholly  owned  subsidiary  of  Capital  Research  and  Management   Company
     (hereinafter  called "CRMC").  This Agreement will continue in effect until
     amended or terminated in accordance with its terms.

2.   The Fund hereby employs AFS, and AFS hereby accepts such  employment by the
     Fund, as its transfer agent. In such capacity AFS will provide the services
     of stock transfer agent,  dividend disbursing agent,  redemption agent, and
     such additional related services as the Fund may from time to time require,
     all of which  services  are  sometimes  referred to herein as  "shareholder
     services."  In  addition,   AFS  assumes   responsibility  for  the  Fund's
     implementation  and  compliance  with  the  procedures  set  forth  in  the
     Anti-Money  Laundering ("AML") Program of the Fund and does hereby agree to
     provide all records  relating to the AML Program to any federal examiner of
     the Fund upon request.

3.   AFS  has  entered  into  substantially   identical  agreements  with  other
     investment companies for which CRMC serves as investment adviser.  (For the
     purposes of this Agreement, such investment companies,  including the Fund,
     are called "participating investment companies.")

4.   AFS has entered  into an  agreement  with DST  Systems,  Inc.  (hereinafter
     called "DST"),  to provide AFS with  electronic  data  processing  services
     sufficient for the performance of the shareholder  services  referred to in
     paragraph 2.

5.   The Fund, together with the other participating companies,  will maintain a
     Review and Advisory  Committee,  which  Committee  will review and may make
     recommendations  to the boards of the  participating  investment  companies
     regarding all fees and charges  provided for in this Agreement,  as well as
     review the level and quality of the  shareholder  services  rendered to the
     participating   investment   companies   and   their   shareholders.   Each
     participating  investment company may select one director or trustee who is
     not  affiliated  with CRMC,  or any of its  affiliated  companies,  or with
     Washington Management  Corporation or any of its affiliated  companies,  to
     serve on the Review and Advisory Committee.

6.   AFS will provide to the participating  investment companies the shareholder
     services referred to herein in return for the following fees:

     Annual account maintenance fee (paid monthly):
     $0.57 per month for each open account on AFS' books or in Level 0, 2 or 4
           Networking ($6.84 per year).
     $0.06 per month for each open account maintained in Street Name or
           Level 1 or 3 Networking ($0.72 per year).
     No annual fee will be charged for a participant account underlying a 401(k)
           or other defined contribution plan where the plan maintains a single
           account on AFS' books and responds to all participant inquiries.

     Transaction fees:
     $1.55 per non-automated transaction
     $0.20 per automated transaction


     For this purpose,  "transactions"  shall include all types of  transactions
included in an "activity index" as reported to the Review and Advisory Committee
at least annually. AFS will bill the Fund monthly, on or shortly after the first
of each calendar  month,  and the Fund will pay AFS within five business days of
such billing.

     Any revision of the schedule of charges set forth herein shall  require the
affirmative vote of a majority of the members of the board of directors/trustees
of the Fund.

7.   All  fund-specific  charges from third  parties --  including  DST charges,
     payments described in the next sentence,  postage, NSCC transaction charges
     and similar  out-of-pocket  expenses -- will be passed through  directly to
     the Fund or other participating  investment companies, as applicable.  AFS,
     subject  to  approval  of its  board of  directors,  is  authorized  in its
     discretion to negotiate  payments to third parties for account  maintenance
     and/or transaction processing services provided such payments do not exceed
     the  anticipated  savings  to the  Fund,  either  in  fees  payable  to AFS
     hereunder or in other direct Fund expenses, that AFS reasonably anticipates
     would be realized  by the Fund from using the  services of such third party
     rather  than  maintaining  the  accounts  directly  on  AFS'  books  and/or
     processing non-automated transactions.

8.   It is understood that AFS may have income in excess of its expenses and may
     accumulate  capital  and  surplus.  AFS  is  not,  however,   permitted  to
     distribute  any net income or accumulated  surplus to its parent,  CRMC, in
     the form of a dividend  without the  affirmative  vote of a majority of the
     members  of  the  boards  of   directors/trustees   of  the  Fund  and  all
     participating investment companies.

9.   This  Agreement  may be  amended  at any time by  mutual  agreement  of the
     parties,  with agreement of the Fund to be evidenced by affirmative vote of
     a majority of the members of the board of directors/trustees of the Fund.

10.  This  Agreement may be  terminated  on 180 days'  written  notice by either
     party.  In the event of a termination of this  Agreement,  AFS and the Fund
     will each extend full  cooperation  in effecting a  conversion  to whatever
     successor  shareholder  service  provider(s) the Fund may select,  it being
     understood that all records  relating to the Fund and its  shareholders are
     property of the Fund.

11.  In the event of a termination  of this Agreement by the Fund, the Fund will
     pay to AFS as a termination fee the Fund's proportionate share of any costs
     of conversion of the Fund's shareholder service from AFS to a successor. In
     the event of termination of this Agreement and all corresponding agreements
     with all the participating  investment companies, all assets of AFS will be
     sold or otherwise  converted to cash, with a view to the liquidation of AFS
     when it  ceases  to  provide  shareholder  services  for the  participating
     investment companies. To the extent any such assets are sold by AFS to CRMC
     and/or any of its  affiliates,  such sales shall be at fair market value at
     the  time  of sale  as  agreed  upon by  AFS,  the  purchasing  company  or
     companies,  and the Review and Advisory Committee.  After all assets of AFS
     have been  converted to cash and all  liabilities  of AFS have been paid or
     discharged,  an amount equal to any capital or paid-in  surplus of AFS that
     shall have been contributed by CRMC or its affiliates shall be set aside in
     cash for distribution to CRMC upon liquidation of AFS. Any other capital or
     surplus and any assets of AFS remaining after the foregoing  provisions for
     liabilities  and  return of  capital  or  paid-in  surplus to CRMC shall be
     distributed to the participating  investment  companies in such proportions
     as may be determined by the Review and Advisory Committee.


12.  In the event of disagreement  between the Fund and AFS, or between the Fund
     and other participating investment companies as to any matter arising under
     this  Agreement,  which  the  parties  to the  disagreement  are  unable to
     resolve,  the  question  shall  be  referred  to the  Review  and  Advisory
     Committee for resolution. If the Review and Advisory Committee is unable to
     resolve the question to the satisfaction of both parties,  either party may
     elect to submit the question to arbitration;  one arbitrator to be named by
     each party to the disagreement and a third arbitrator to be selected by the
     two arbitrators named by the original  parties.  The decision of a majority
     of the  arbitrators  shall be  final  and  binding  on all  parties  to the
     arbitration.  The expenses of such  arbitration  shall be paid by the party
     electing to submit the question to arbitration.

13.  The  obligations  of the Fund under this Agreement are not binding upon any
     of the directors,  trustees, officers, employees, agents or shareholders of
     the Fund  individually,  but bind only the Fund itself.  AFS agrees to look
     solely to the assets of the Fund for the  satisfaction  of any liability of
     the Fund in respect to this  Agreement and will not seek  recourse  against
     such directors,  trustees, officers,  employees, agents or shareholders, or
     any of them or their personal assets for such satisfaction.



AMERICAN FUNDS SERVICE COMPANY                [NAME OF FUND]



By___________________________________         By_______________________________
         J. Kelly Webb, Chairman                                    , Chairman


By___________________________________         By_______________________________
         Angela M. Mitchell, Secretary                              , Secretary