[FORM OF PROXY]

[Preliminary Proxy Material]

                          MUTUAL FUND INVESTMENT TRUST

                             CHASE MONEY MARKET FUND

     This proxy is solicited on behalf of the Board of Trustees of Mutual Fund
Investment Trust for the Special Meeting of the Shareholders to be held on
January 26, 2001.

     The undersigned hereby appoints [___, ___ AND ___], and each of them,
attorneys and proxies for the undersigned, with full power of substitution, and
revocation to represent the undersigned and to vote on behalf of the undersigned
all shares of Chase Money Market Fund which the undersigned is entitled to vote
at the Special Meeting of Shareholders to be held at One Chase Square, Third
Floor Garden Room, Rochester, New York on January 26, 2001, at 9:00 a.m., and at
any adjournments thereof. The undersigned hereby acknowledges receipt of the
Notice of the Special Meeting of Shareholders and hereby instructs said
attorneys and proxies to vote said shares as indicated hereon. In their
discretion, the proxies are authorized to vote upon such other business as may
properly come before the Special Meeting of Shareholders in person or by
substitute (or, if only one shall be so present, then that one) shall have and
may exercise all of the power and authority of said proxies hereunder. The
undersigned hereby revokes any proxy previously given.

     NOTE: Please sign exactly as your name appears on this proxy. If joint
owners, EITHER may sign this proxy. When signing as attorney, executor,
administrator, trustee, guardian or corporate officer, please give your full
title.

     DATE               ,
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     Signature(s), Title(s) (if applicable)

     PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE


                          MUTUAL FUND INVESTMENT TRUST

                             CHASE MONEY MARKET FUND


     PLEASE INDICATE YOUR VOTE BY AN "X" ON THE APPROPRIATE LINE BELOW.

     This proxy, if properly executed, will be voted in the manner directed by
     the shareholder.

     IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED FOR THE PROPOSAL.

     Please refer to the Proxy Statement for a discussion of the Proposal.

     THE BOARD OF TRUSTEES RECOMMENDS A VOTE "FOR" THE FOLLOWING PROPOSAL.

     Proposal:     To approve or disapprove of the Reorganization.

     For                 Against                 Abstain
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