EXHIBIT (17)(e)


PROXY CARD                                                            PROXY CARD

                      FIRST AMERICAN INVESTMENT FUNDS, INC.
                              Emerging Markets Fund

                         SPECIAL MEETING OF SHAREHOLDERS
                                  MARCH 6, 2003

         This proxy is solicited on behalf of the Board of Directors. The
undersigned revoke(s) all previous proxies and appoint(s) ____________________,
_____________________or __________________ or any one of them, attorneys, with
full power of substitution, to vote all shares of Emerging Markets Fund, a
series of First American Investment Funds, Inc. ("FAIF"), which the undersigned
is entitled to vote at the Special Meeting of Shareholders to be held at the
offices of FAIF at 800 Nicollet Mall, Minneapolis, Minnesota 55402, on Thursday,
March 6, 2003 at 10:00 a.m. Central time, and at any adjournments or
postponements thereof.

         I (we) acknowledge receipt of the Notice of Special Meeting of
Shareholders, the Prospectus/Proxy Statement and the various accompanying
materials, as referenced in the Prospectus/Proxy Statement relating to the
proposed reorganization of Emerging Markets Fund into International Fund, a
separate series of FAIF.

         PLEASE VOTE ON THE REVERSE SIDE, SIGN AND DATE THIS PROXY AND RETURN IT
PROMPTLY IN THE POSTAGE-PAID ENVELOPE PROVIDED OR VOTE VIA FAX, THE INTERNET OR
TELEPHONE, AS INDICATED BELOW.

               VOTE VIA FACSIMILE: _________________________________
               VOTE VIA THE INTERNET: ______________________________
               VOTE VIA THE TELEPHONE: 1-800-__________

               _____________________________________________________
               CONTROL NUMBER: __________________
               _____________________________________________________


         NOTE: Please sign your name exactly as it appears in the registration
on the proxy card. If signing for an estate, trust or corporation, please state
your title or capacity. If joint owners, EITHER may sign.


                       _____________________________________________
                       Signature and Title, if applicable

                       _____________________________________________
                                        Date



TO VOTE, MARK ONE OF THE BLOCKS BELOW IN BLUE OR BLACK INK. Example: [ X ] IF NO
SPECIFICATION IS MADE, THIS PROXY WILL BE VOTED FOR THE PROPOSAL. As to any
other matter, said attorneys will vote in accordance with their best judgment.
THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE "FOR" THE PROPOSAL.


1.       To approve a Plan of Reorganization and Termination adopted by FAIF
         insofar as it provides for (a) the acquisition of all the assets of
         Emerging Markets Fund, a separate series of FAIF, by International
         Fund, another separate series of FAIF, in exchange solely for shares of
         International Fund and International Fund's assumption of all the
         liabilities of Emerging Markets Fund, followed by (b) the distribution
         of those International Fund shares to Emerging Markets Fund's
         shareholders in liquidation of Emerging Markets Fund and (c) Emerging
         Markets Fund's subsequent termination. A vote in favor of the Plan of
         Reorganization and Termination will be considered a vote in favor of an
         amendment to FAIF's Amended and Restated Articles of Incorporation
         effecting the foregoing transactions.


         FOR                       AGAINST                      ABSTAIN
         [ ]                         [ ]                          [ ]