February 3, 2000
▇▇▇▇ ▇▇▇▇▇▇▇ Advisers, Inc.
▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Re: ▇▇▇▇ ▇▇▇▇▇▇▇ International Equity Fund ("Fund")
Ladies and Gentlemen:
The Sub-Investment Management Contract between ▇▇▇▇ ▇▇▇▇▇▇▇ Institutional Series
(the "Trust") on behalf of the ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇ Advisers, Inc. (the "Adviser")
and ▇▇▇▇ ▇▇▇▇▇▇▇ Advisers International, Ltd. (the "Sub-Adviser"), dated March
30, 1995, and the fee waiver letter dated January 1, 2000 (together the
"Contracts"), currently provide that the Sub-Adviser will act as a limited
Co-Sub-Adviser with Indocam International Investment Services.
As of March 1, 2000, the Sub-Adviser hereby agrees to terminate the Contracts
and to waive its right to receive sixty (60) days notice of this termination.
Agreed to by:
▇▇▇▇ ▇▇▇▇▇▇▇ ADVISERS
INTERNATIONAL, LIMITED
/s/▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Director
Funds/institnl/JHAI/termination00
