SKYLINE FUNDS
SKYLINE SPECIAL EQUITIES PORTFOLIO
FIRST AMENDMENT TO
INVESTMENT ADVISORY AGREEMENT
SKYLINE FUNDS, a Massachusetts business trust registered under the
Investment Company Act of 1940 (the "1940 Act") as an open-end diversified
management investment company (the "Fund") and SKYLINE ASSET MANAGEMENT, L.P., a
Delaware limited partnership registered under the Investment Advisers Act of
1940 as an investment adviser (the "Adviser"), agree that the investment
advisory agreement between the parties for SKYLINE SPECIAL EQUITIES PORTFOLIO
(the "Portfolio") dated as of the 28th day of May, 1998 is amended by adding the
following paragraph immediately following paragraph 15:
16. PRIVACY OF NONPUBLIC PERSONAL INFORMATION. The Adviser shall not
disclose or use "nonpublic personal information" (as defined in Rule 3(t)
of Regulation S-P, adopted by the Securities and Exchange Commission) to
non-affiliated entities except as necessary to carry out the purposes for
which the Fund or Portfolio disclosed such information to the Adviser,
including information that is used in accordance with Rules 14 and 15 of
Regulation S-P in the ordinary course of business to carry out those
purposes.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the day and year first above written.
ATTEST: SKYLINE FUNDS
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Executive Vice President Title: President
ATTEST: SKYLINE ASSET MANAGEMENT, L.P.
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Partner and Chief Operating Officer Title: Managing Partner
