0000912057-00-055210 Sample Contracts

LETTER AGREEMENT Investment Company Capital Corp. One South Street Baltimore, MD 21202
Letter Agreement • December 29th, 2000 • Flag Investors Portfolios Trust

In regards to the Administration Services Appendix to the Master Services Agreement dated September 1, 2000 (the "Agreement") (i) between Flag Investors Portfolios Trust and Investment Company Capital Corp. ("ICCC") and (ii) between Flag Investors Funds, Inc. and ICCC, each party to the Agreement agrees the sub-administration fee schedule will be as follows:

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WITNESSETH:
Master License Agreement • December 29th, 2000 • Flag Investors Portfolios Trust
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