CUSTODY AGREEMENT

                                                                    Exhibit 7(D)
                                   APPENDIX B

                                CUSTODY AGREEMENT

The following open-end management investment companies ("Funds") are hereby made
parties to the Custody Agreement dated DECEMBER 23, 1994 with UMB Bank, n.a.
("Custodian") and THE XXXXXXX FUNDS, INC. and agree to be bound by all the terms
and conditions contained in said Agreement.


                                 LIST THE FUNDS

                      The Xxxxxxx U.S. Treasury Money Fund
                                 DEM Equity Fund
                                 DEM Index Fund
                              DEM Fixed Income Fund
                          DEM Multi-Manager Equity Fund
                           DEM Multi-Manager Bond Fund




ATTEST:                                         THE XXXXXXX FUNDS, INC.
                                                 -----------------------

/S/ M. XXXX XXXXXXX                    By: /S/ XXXXXX X. XXXXXXX, XX.
-------------------                             Name: Xxxxxx X. Xxxxxxx, Xx.
                                                ----------------------------
                                                Title:  President
                                                -----------------
                                                Date: 2/1/99
                                                ------------


ATTEST:                                UMB BANK, N.A.
/S/ R. XXXXXXX XXXXXXXX                By: /S/ XXXXX X. XXXXXXX
                                                Name: Xxxxx X. Xxxxxxx
                                                ----------------------
                                                Title:  Senior Vice President
                                                -----------------------------
                                                Date:  01/11/99
                                                ---------------