EXHIBIT ITEM 24 (b)(9)(b) AMENDMENT TO ADMINISTRATION AND BLUE SKY SERVICES AGREEMENT This Amendment, dated as of the 9th day of February, 1998, made by and between Third Avenue Trust ("Third Avenue"), a Delaware business trust operating as a...

EXHIBIT ITEM 24 (b)(9)(b)
           AMENDMENT TO ADMINISTRATION AND BLUE SKY SERVICES AGREEMENT


            This Amendment,  dated as of the 9th day of February,  1998, made by
and between  Third Avenue Trust  ("Third  Avenue"),  a Delaware  business  trust
operating as a registered investment company under the Investment Company Act of
1940, as amended, and duly organized and existing under the laws of the State of
Delaware and FPS Services,  Inc. ("FPS Services"),  a corporation duly organized
and  existing  under  the  laws of the  State  of  Delaware  (collectively,  the
"Parties").

                                WITNESSETH THAT:

            WHEREAS,  the Parties are Parties to an Administration  and Blue Sky
Services Agreement dated January 1, 1997 (the "Agreement"), wherein FPS Services
agreed to provide certain  administrative and Blue Sky services to Third Avenue;
and

            WHEREAS,  the Parties wish to amend the Agreement to provide for the
addition of a new series of shares;

            NOW,  THEREFORE,   in  consideration  of  the  premises  and  mutual
covenants  contained herein, the Parties hereto,  intending to be legally bound,
do hereby agree as follows:

            1.          The  Agreement  is hereby  amended to add a new  series,
                        THIRD AVENUE HIGH YIELD FUND, by replacing  Schedule "C"
                        of the Agreement with the attached amended Schedule "C".

            2.          Except  as  specifically  amended  hereby, the Agreement
                        shall  not  be  modified  or  amended  and  shall remain
                        in full force and effect.

            IN WITNESS  WHEREOF,  the Parties  hereto have caused this Agreement
consisting of one typewritten page, together with an amended Schedule "C", to be
signed by their duly  authorized  officers  as of the day and year  first  above
written.


Third Avenue Trust                                                      


By: _________________________________                               
    Xxxxx Xxxxx, Executive Vice-President                           


FPS Services, Inc.                
                                     
                                     
By:_________________________      
   Xxxxxxx X. Xxxxx, President   
                                     
                                     



                                                                    SCHEDULE "C"



                            IDENTIFICATION OF SERIES


Below are listed the Series to which  services  under this  Agreement  are to be
performed as of the execution date of this Agreement:


                               THIRD AVENUE TRUST

                             THIRD AVENUE VALUE FUND
                        THIRD AVENUE SMALL-CAP VALUE FUND
                          THIRD AVENUE HIGH YIELD FUND



This Schedule "C" may be amended from time to time by agreement of the parties.