AMENDMENT, DATED NOVEMBER 18, 2002, TO INVESTOR SERVICES AGREEMENT BETWEEN RYDEX VARIABLE TRUST AND RYDEX DISTRIBUTORS, INC., DATED DECEMBER 31, 1998, AS AMENDED

                                   AMENDMENT,
                            DATED NOVEMBER 18, 2002,
                                       TO
                           INVESTOR SERVICES AGREEMENT
                          BETWEEN RYDEX VARIABLE TRUST
                          AND RYDEX DISTRIBUTORS, INC.,
                            DATED DECEMBER 31, 1998,
                                   AS AMENDED


                                  AMENDMENT TO
                           INVESTOR SERVICES AGREEMENT
                                     BETWEEN
                              RYDEX VARIABLE TRUST
                                       AND
                            RYDEX DISTRIBUTORS, INC.

                                    EXHIBIT A

                              RYDEX VARIABLE TRUST

Rydex Funds

         Nova Fund
         Ursa Fund
         Precious Metals Fund
         OTC Fund
         Juno Fund
         Large-Cap Europe Fund
         Large-Cap Japan Fund
         Mekros Fund
         Medius Fund
         Titan 500 Fund
         Tempest 500 Fund
         Velocity 100 Fund
         Venture 100 Fund
         U.S. Government Bond Fund
         U.S. Government Money Market Fund
         All-Cap Value Fund
         Core Equity Fund
         Internet Fund
         Sector Rotation Fund
         Real Estate Fund
         Utilities Fund