1 EXHIBIT 10.03 [PROFUTURES LETTERHEAD] August 31, 2000 VIA OVERNIGHT COURIER Charles Mizrahi, President Hampton Investors, Inc. 2519 Avenue U Brooklyn, New York 11229 RE: HAMPTON INVESTORS INC. FIRST AMENDED AND RESTATED ADVISORY CONTRACT WITH...

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                                                                   EXHIBIT 10.03

                             [PROFUTURES LETTERHEAD]


                                August 31, 2000

VIA OVERNIGHT COURIER

Xxxxxxx Xxxxxxx, President
Xxxxxxx Investors, Inc.
0000 Xxxxxx X
Xxxxxxxx, Xxx Xxxx 00000

RE: HAMPTON INVESTORS INC. FIRST AMENDED AND RESTATED
    ADVISORY CONTRACT WITH PROFUTURES LONG/SHORT GROWTH FUND, L.P. (THE "FUND")

Dear Xxxxxxx:

This letter will confirm that the August 31, 1998 First Amended and Restated
Advisory Contract between you and the Fund is hereby renewed until August 31,
2001.

Yours very truly,


PROFUTURES LONG/SHORT GROWTH FUND, L.P.
By: ProFutures, Inc., its General Partner


By: /s/ XXXX X. XXXXXXX
    --------------------------
    Xxxx X. Xxxxxxx, President