Exhibit (P)

                       CERTIFICATE OF THE SOLE STOCKHOLDER
                  OF FLOATING RATE INCOME STRATEGIES FUND, INC.

     Fund Asset Management, L.P. ("FAM"), the holder of 5,236 shares of common
stock, par value $0.10 per share, of Floating Rate Income Strategies Fund, Inc.
(the "Fund"), a Maryland corporation, does hereby confirm to the Fund its
representation that it purchased such shares for investment purposes, with no
present intention of reselling any portion thereof.

                           FUND ASSET MANAGEMENT, L.P.



                           By:  /s/  Donald C. Burke
                               --------------------------------------------
                               Name: Donald C. Burke
                               Title: First Vice President



Dated: October 28, 2003