1 EXHIBIT (h)(4)(f)(ii) AMENDMENT NO. 1 MASTER ADMINISTRATIVE SERVICES AGREEMENT The Master Administrative Services Agreement (the "Agreement"), dated February 28, 1997, by and between A I M Advisors, Inc., a Delaware corporation, and AIM Equity...

   1
                                                           EXHIBIT (h)(4)(f)(ii)

                                 AMENDMENT NO. 1
                    MASTER ADMINISTRATIVE SERVICES AGREEMENT


         The Master Administrative Services Agreement (the "Agreement"), dated
February 28, 1997, by and between A I M Advisors, Inc., a Delaware corporation,
and AIM Equity Funds, Inc., a Maryland corporation, is hereby amended as
follows:

         Appendix A of the Agreement is hereby deleted in its entirety and
replaced with the following:

                             "AIM EQUITY FUNDS, INC.
             APPENDIX A TO MASTER ADMINISTRATIVE SERVICES AGREEMENT

AIM Aggressive Growth Fund
AIM Blue Chip Fund
AIM Capital Development Fund
AIM Charter Fund
AIM Constellation Fund
AIM Large Cap Growth Fund
AIM Xxxxxxxxxx Fund"

         All other terms and provisions of the Agreement not amended herein
shall remain in full force and effect.


Dated:         , 1998
      ---------

                                         A I M ADVISORS, INC.


Attest:                                  By:
       -----------------------------        ----------------------------------
           Assistant Secretary                      President


(SEAL)

                                         AIM EQUITY FUNDS, INC.



Attest:                                  By:
       ---------------------------          ----------------------------------
           Assistant Secretary                      President


(SEAL)