CERTIFIED RESOLUTIONS


      I, Tina H. Bloom,  Assistant  Secretary of The Cutler Trust (the "Trust"),
hereby  certifies  that the following  resolutions  were adopted by the Board of
Trustees  of the  Trust,  including  a  majority  of the  Trustees  who  are not
"interested  persons" of the Trust, at a meeting of the Board held on August 27,
2009.

           WHEREAS,  the  Trustees of the Trust,  including a majority of
           the Independent Trustees, have reviewed the amount, type, form
           and coverage of the fidelity  bond through  Federal  Insurance
           Company (the "Fidelity Bond"); and

           WHEREAS,  the amount of coverage  under the  Fidelity  Bond is
           $350,000,  being at least equal to the minimum  amount of bond
           required  by  Rule  17g-1  promulgated  under  the  Investment
           Company Act of 1940;

           NOW, THEREFORE,  BE IT RESOLVED,  that the amount,  type, form
           and  coverage  of the  Fidelity  Bond are  reasonable  and the
           Fidelity Bond be, and it hereby is,  ratified and approved for
           the period from June 30, 2009 until June 30, 2010; and

           FURTHER RESOLVED, that the premium of $1,470 to be paid by the
           Trust under the  Fidelity  Bond for the period  ended June 30,
           2010 be, and it hereby is, ratified and approved; and

           FURTHER RESOLVED, that the Secretary or an Assistant Secretary
           of the Trust be, and he or she hereby  is,  designated  as the
           person  who  shall  make the  filings  and  give  the  notices
           required by paragraph (g) of Rule 17g-1; and

           FURTHER RESOLVED,  that the officers of the Trust be, and they
           hereby  are,  authorized  to take  any and all  other  actions
           deemed   necessary  or   appropriate   to   effectuate   these
           resolutions.


August 27, 2009                                     /s/ Tina H. Bloom
                                                  -----------------------------
                                                   Tina H. Bloom
                                                   Assistant Secretary