Exhibit (h) AMENDMENT TO SUB-ADMINISTRATION AGREEMENT This Amendment dated as of September 16, 1999, is entered into by ALLEGHANY INVESTMENT SERVICES INC. (the "Company") and FIRST DATA INVESTOR SERVICES GROUP, INC. ("Investor Services Group")....

Exhibit (h)


AMENDMENT TO
                          SUB-ADMINISTRATION AGREEMENT


     This Amendment dated as of September 16, 1999, is entered into by ALLEGHANY
     INVESTMENT  SERVICES INC. (the "Company") and FIRST DATA INVESTOR  SERVICES
     GROUP, INC. ("Investor Services Group").

         WHEREAS,  the Company and Investor  Services  Group have entered into a
Sub-Administration   Agreement   dated  as  of  June  1,  1997  (as  amended  or
supplemented, the "Agreement"); and

         WHEREAS,  the Company  and  Investor  Services  Group wish to amend the
Agreement  to revise the  description  of  services  to be  provided by Investor
Services Group to the Company and related matters;

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

         I.       The following is hereby added to Schedule D of the Agreement:

                             Sales Support Services

      Sales literature review and  recommendations  for compliance with NASD and
      SEC rules and  regulations  Preparation  of training  materials for use by
      personnel of the Company or the Adviser  Preparation of ongoing compliance
      updates  Coordination of registration of the Fund with National Securities
      Clearing Corp. ("NSCC") and filing
     required Fund/SERV reports with NSCC
      Provision of advice and counsel to the Company with respect to  regulatory
     matters,  including monitoring regulatory and legislative developments that
     may affect the Company
      Assistance in the  preparation of quarterly board materials with regard to
     sales and other distribution related data reasonably requested by the board

         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.

                                        ALLEGHANY INVESTMENT SERVICES INC.

                                        By: /s/ XXXXXX X. XXXXXXXXXX



                                        FIRST DATA INVESTOR SERVICES GROUP, INC.

                                        By: /s/ XXXXX X. XXX
                                             Xxxxx X. Xxx
                                             President