0001003297-04-000504 Sample Contracts

Exhibit (d)(6) Interim Sub-Advisory Agreement
Interim Agreement • December 30th, 2004 • FBR Funds • Maryland

This INTERIM AGREEMENT made as of the 1st of November, 2004, by and between Money Management Advisers, Inc a Delaware corporation (the "Adviser"), and Asset Management, Inc., a Maryland corporation (the "Subadviser").

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Exhibit (d)(4) Amendment to Sub-Advisory Agreement dated July 28, 2004.
FBR Funds • December 30th, 2004

This Amendment is made as of the 28th of July, 2004, by and between FBR Fund Advisers, Inc., a Delaware corporation (the "Adviser"), and Akre Capital Management, LLC, a Delaware limited liability company (the "Subadviser").

Exhibit (e)(2) Selected Dealer Agreement
Selected Dealer Agreement • December 30th, 2004 • FBR Funds • Delaware

AGREEMENT made this ____ day of _________________, 2004, between FBR Investment Services, Inc., a corporation organized under the laws of the State of Delaware with its principal place of business 4922 Fairmont Avenue, Bethesda, Maryland 20814 and _______________________________, a member of the National Association of Securities Dealers, Inc. ("Dealer").

Exhibit (g)(2) Amendment to Agreement for Fund Administration, Fund Accounting Services, Transfer Agency Services and Custody Services
FBR Funds • December 30th, 2004

This Amendment is made as of the 1st of November, 2004, by and between The FBR Funds (the "Trust") and FBR National Trust Company (the "Company").

Exhibit (d)(5) Amendment to Sub-Advisory Agreement dated November 1, 2004
FBR Funds • December 30th, 2004 • Delaware

This Second Amendment is made as of the 1st of November, 2004, by and between FBR Fund Advisers, Inc., a Delaware corporation (the "Adviser"), and Akre Capital Management, LLC, a Delaware limited liability company (the "Subadviser").

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