Common use of Subject Fund Clause in Contracts

Subject Fund. INDEPENDENCE is hereby appointed and INDEPENDENCE hereby accepts the appointment to act as an investment adviser and manager to the Fundamental Growth Fund (the "Subject Fund"), effective December 15, 2003, for the period and on the terms herein set forth, for the compensation herein provided.

Subject Fund. INDEPENDENCE is hereby appointed and INDEPENDENCE hereby accepts the appointment to act as an investment adviser and manager to the Fundamental Large Cap Aggressive Growth Fund (the "Subject Fund"), effective December 15, 2003, for the period and on the terms herein set forth, for the compensation herein provided.