0001105607-04-000131 Sample Contracts

INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • April 28th, 2004 • W&r Target Funds Inc

THIS AGREEMENT, made this 18th day of February, 2004, by and between W&R TARGET FUNDS, INC. (hereinafter called "Fund"), and WADDELL & REED INVESTMENT MANAGEMENT COMPANY, with respect to the series of the Fund currently known as mortgage Securities Portfolio and Real Estate Securities Portfolio (collectively hereinafter called "Portfolios") .

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INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 28th, 2004 • W&r Target Funds Inc

THIS AGREEMENT, made as of the 18th day of February, 2004, by and between Waddell & Reed Investment Management Company, a Kansas corporation, registered as an Investment Adviser under the Investment Advisers Act of 1940 (the "Adviser") and Advantus Capital Management, Inc., a Minnesota corporation, registered as an Investment Adviser under the Investment Advisers Act of 1940 (the "Sub-Adviser").

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