Agreement and Plan of Reorganization (2006)Full Document 

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                    AGREEMENT AND PLAN OF REORGANIZATION

This Agreement and Plan of Reorganization dated as of Nov. 10, 2005 (the
"Agreement") is between AXP Global Series, Inc. (the "Selling Corporation"),
a Minnesota corporation, on behalf of its series, RiverSource Global
Balanced Fund (the "Selling Fund"), and AXP Investment Series, Inc. (the
"Buying Corporation"), a Minnesota corporation, on behalf of its series,
RiverSource Balanced Fund (the "Buying Fund"), and RiverSource Investments,
LLC (solely for the purposes of Section 3c and 10 of the Agreement).

In consideration of their mutual promises, the parties agree as follows:

1.   SHAREHOLDER APPROVAL. The Selling Fund will call a meeting of its
     shareholders for the purpose of approving the Agreement and the
     transactions it contemplates (the "Reorganization"). The Buying Fund
     agrees to furnish data and information, as reasonably requested, for
     the proxy statement to be furnished to shareholders of the Selling
     Fund.

2.   REORGANIZATION.

     a.  Plan of Reorganization. The Reorganization will be a reorganization
         within the meaning of Section 368 of the Internal Revenue Code of
         1986, as amended (the "Code"). At the Closing, the Selling
         Corporation will convey all of the assets of the Selling Fund to
         the Buying Fund. The Buying Fund will assume all liabilities of the
         Selling Fund. At the Closing, the Buying Corporation will deliver
         shares of the Buying Fund, including fractional shares, to the
         Selling Corporation. The number of shares will be determined by
         dividing the value of the net assets of shares of the Selling Fund,
         computed as described in paragraph 3(a), by the net asset value of
         one share of the Buying Fund, computed as described in paragraph
         3(b). The Selling Fund will not pay a sales charge on the receipt
         of Buying Fund shares in exchange for the assets of the Selling
         Fund. In addition, the shareholders of the Selling Fund will not
         pay a sales charge on distribution to them of shares of the Buying
         Fund.

     b.  Closing and Effective Time of the Reorganization. The
         Reorganization and all related acts necessary to complete the
         Reorganization (the "Closing") will occur on the first day on which
         the New York Stock Exchange (the "NYSE") is open for business
         following approval of shareholders of the Selling Fund and receipt
         of all necessary regulatory approvals, or such later date as the
         parties may agree.

3.   VALUATION OF NET ASSETS.

     a.  The net asset value of shares of the Selling Fund will be computed
         as of the close of regular trading on the NYSE on the day of
         Closing (the "Valuation Date") using the valuation procedures in
         the Buying Fund's prospectus.

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     b.  The net asset value per share of shares of the Buying Fund will be
         determined as of the close of regular trading on the NYSE on the
         Valuation Date, using the valuation procedures in the Buying Fund's
         prospectus.

     c.  At the Closing, the Selling Fund will provide the Buying Fund with
         a copy of the computation showing the valuation of the net asset
         value per share of shares of the Selling Fund on the Valuation
         Date. The Buying Fund will provide the Selling Fund with a copy of
         the computation showing the determination of the net asset value
         per share of shares of the Buying Fund on the Valuation Date. Both
         computations will be certified by an officer of Ameriprise
         Financial, Inc.

4.   LIQUIDATION AND DISSOLUTION OF THE SELLING FUND.

     a.  As soon as practicable after the Valuation Date, the Selling
         Corporation will liquidate the Selling Fund and distribute shares
         of the Buying Fund to the Selling Fund's shareholders of record.
         The Buying Fund will establish shareholder accounts in the names of
         each Selling Fund shareholder, representing the respective pro rata

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