Exhibit 9.25 Nicholas-Applegate Mutual Funds 600 West Broadway 30th Floor San Diego, CA 92101 December __, 1996 PFPC Inc. 103 Bellevue Parkway Wilmington, Delaware 19809 Ladies and Gentlemen: Reference is made to the Accounting Services Agreement...

                                     Exhibit 9.25


                           Xxxxxxxx-Xxxxxxxxx Mutual Funds
                                  000 Xxxx Xxxxxxxx
                   00xx Xxxxx
                                 Xxx Xxxxx, XX  00000

December __, 1996

PFPC Inc.
000 Xxxxxxxx Xxxxxxx
Xxxxxxxxxx, Xxxxxxxx  00000

Ladies and Gentlemen:

         Reference is made to the Accounting Services Agreement between us
dated as of April 1, 1993 (the "Agreement").

         Pursuant to Section 2 of the Agreement, we wish to add the following
Portfolio to the Agreement:

             XXXXXXXX-XXXXXXXXX LARGE CAP GROWTH INSTITUTIONAL PORTFOLIO

         Please indicate your acceptance of this addition by signing the letter
below and returning a copy to us.  Thank you for your assistance regarding this
matter.

Sincerely,



E. Xxxxx Xxxxx, Jr.
Secretary

APPOINTMENT ACCEPTED:

PFPC INC.


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