TRANSFER - AUTHORIZATION FOR NEW OR EXISTING ACCOUNT

 TO:  Rydex Series Trust
        9601 Blackwell, Suite 500
        Rockville, MD 20850
        FAX (301) 296- 5101

 Name ________________________________________________________

 Address _____________________________________Ph _______________

 City ______________________________ State ______ Zip ______________

This will appoint Market Timing Systems, Inc. ("MTSI"), as Advisor/Agent to manage mutual funds on my behalf. I authorize you, as  my sole custodian, to pay Agent from my assets held in any of the Rydex mutual funds registered in my name, the management fees specified in my Investment Advisory Agreement with Agent, as invoiced by Agent. As my sole custodian, you shall rely on Agent's invoices and have no responsibility for the calculation or verification of the fees.

[  ]    I have enclosed an application for a new Rydex account, to be transferred from another firm. Please transfer
$___________ from my account #_____________, at _________________________ to the U.S. Government Money Market Fund for my new Rydex account. Place my new Rydex account into MTSI (underline one) Group # 0224 or Group # 0226.

[  ]    Please transfer my existing Rydex account(s) listed below to Market Timing Systems
Group #0226 (Dynamic Funds) and allocate all funds to the U.S. Government Money Market Fund.

[  ]    Please transfer my existing account(s) listed below to Market Timing Systems:
Group #0224 (Index Funds) and allocate all funds to the U.S. Government Money Market Fund.

[  ]    (Conseco/Rydex Variable Annuity Program only) Please transfer my account(s) listed below to Market Timing Systems: Group #0225, and allocate all funds to the U.S. Government  Money Market Fund

[  ]    I prefer to pay management fees separately by repetitive billings instead of using my Rydex account.

I have faxed or mailed a copy of this form to Rydex at (301) 296- 5101, and kept a copy for my record.
The original has been mailed to Market Timing Systems, Inc., 3110 Polaris Avenue, Suite 15, Las Vegas, NV 89102.

Thank You,   _____________________________         Dated________________

    Rydex Account number(s) to be transferred to MTSI management:

   ________________    ________________    ________________    ________________

Fax or mail a copy of this Authorization Form to Rydex and mail original to MTSI. Remember to also sign and mail to MTSI the MUTUAL FUND SWITCHING SERVICE AGREEMENT.

©2001, Market Timing Systems, Inc.

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