AMENDMENT TO TRANSFER AGENCY AND SERVICES AGREEMENT This Amendment dated as of _____________, 1998, is entered into by FORWARD FUNDS, INC. (the "Fund") and FIRST DATA INVESTOR SERVICES GROUP, INC. ("Investor Services Group"). WHEREAS, the Fund and...

 
                                  AMENDMENT TO
                     TRANSFER AGENCY AND SERVICES AGREEMENT


         This  Amendment  dated as of  _____________,  1998,  is entered into by
FORWARD FUNDS,  INC. (the "Fund") and FIRST DATA INVESTOR  SERVICES GROUP,  INC.
("Investor Services Group").

         WHEREAS,  the Fund and  Investor  Services  Group have  entered  into a
Transfer  Agency  and  Services  Agreement  dated  as  of  April  1,  1998  (the
"Agreement"); and

         WHEREAS,  the Fund  and  Investor  Services  Group  wish to  amend  the
Agreement  to add new  investment  portfolios  of the Fund to  Exhibit  1 of the
Agreement;

         NOW,  THEREFORE,  the parties  hereto,  intending  to be legally  bound
hereby, hereby agree as follows:

         I. Exhibit 1 to the  Agreement  is hereby  deleted in full and replaced
with the attached Exhibit 1.

         II. Except to the extent  amended  hereby,  the Agreement  shall remain
unchanged  and in full force and effect and is hereby  ratified and confirmed in
all respects as amended hereby.

         IN WITNESS WHEREOF,  the undersigned have executed this Amendment as of
the date and year first written above.

                                            FORWARD FUNDS, INC.



                                            By: __________________________


                                            FIRST DATA INVESTOR SERVICES
                                            GROUP, INC.



                                            By: __________________________







                                    Exhibit 1

                               LIST OF PORTFOLIOS

                                 The Global Fund
                              The Money Market Fund
                          The International Equity Fund
                                 The Equity Fund
                              The Global Bond Fund
                       The Small Capitalization Stock Fund