Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

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Applicant seeks an order declaring that it has ceased to be an investment company. On June 25, 2004, applicant transferred its assets to a corresponding series of AXP Partners Series, Inc., based on net asset value. Expenses of $38,308 incurred in connection with the reorganization were paid by American Express Financial Corporation, applicant's investment adviser. Filing Date: The application was filed on September 2, 2004. Applicant's Address: 901 Marquette Ave. S, Suite 2810, Minneapolis, MN 55402-3268.