WITNESSETH:

   1
                                                                  EXHIBIT 8(h)

                AMENDMENT NO. 1 TO THE TRANSFER AGENCY AGREEMENT

                  This Agreement is made as of December 12, 1995 between Pacific
Horizon Funds, Inc., a Maryland corporation (the "Company"), having its
principal office and place of business at 0000 Xxxxxxx Xxxx, Xxxxxxxx, Xxxx
00000-0000; and BISYS Fund Services, Inc., a Delaware corporation ("BISYS"),
having its principal office and place of business at 0000 Xxxxxxx Xxxx,
Xxxxxxxx, Xxxx 00000-0000.

                                   WITNESSETH:

         WHEREAS, the Company entered into a Transfer Agency Agreement dated as
of December 11, 1995 with BISYS (the "Agreement") on behalf of all of the
Company's investment portfolios;

         WHEREAS, the Company and BISYS wish to amend such Agreement;

         NOW THEREFORE, in consideration of the mutual promises hereinafter set
forth and intending to be legally bound hereby, the parties agree as follows:

         1.       Article IV is hereby amended by adding a Paragraph 15:

                  "15. Any interest or other earnings on bank cash balances or
                  otherwise in connection with purchases or redemptions of
                  Shares, dividends payable with respect to Shares or on any
                  other "float" with respect to the Company shall be for the
                  benefit and account of the Company."

         2.       Capitalized terms not defined herein are defined in the
Agreement.

         3.       Except as specifically set forth herein, all other provisions
of the Agreement shall remain in full force and effective.

         4.       The Agreement and Amendment No. 1 to the Agreement supersedes
any prior agreement relating to the subject matter of the Agreement and
Amendment No. 1 to the Agreement.

         5.       This Amendment No. 1 to the Agreement may be executed in any
number of counterparts each of which shall be deemed to be an original; but such
counterparts shall, together, constitute only one instrument.

                                                  Pacific Horizon Funds, Inc.

                                                  By: ________________________

                                                  BISYS Fund Services, Inc.

                                                  By: ________________________