AMENDMENT TO THE AGENCY AGREEMENT DATED JANUARY 1, 1998 BETWEEN DST SYSTEMS, INC. AND OLD MUTUAL ADVISOR FUNDS II (FORMERLY PBHG FUNDS)

AMENDMENT TO THE AGENCY AGREEMENT

DATED JANUARY 1, 1998 BETWEEN DST SYSTEMS, INC. AND OLD MUTUAL ADVISOR FUNDS II (FORMERLY PBHG FUNDS)

THIS AMENDMENT dated September 1, 2006 to the Agency Agreement dated January 1, 1998, as amended (the “Agency Agreement”), by and between DST Systems, Inc. (“DST”) and Old Mutual Advisor Funds II (formerly PBHG Funds, Inc. or PBHG Funds) (the “Fund”), shall be as follows:

WHEREAS, effective November 1, 2005, the Fund was renamed Old Mutual Advisor Funds II; and

WHEREAS, effective November 1, 2005, the series portfolios of the Fund except the Old Mutual Analytic U.S. Long Short Fund (formerly the Analytic Disciplined Equity Fund), the Old Mutual Barrow Hanley Value Fund (formerly the Clipper Focus Fund) and the Old Mutual Columbus Circle Technology and Communications Fund (formerly the PBHG Technology & Communications Fund) were renamed as indicated on Exhibit A, attached hereto; and

WHEREAS, effective January 1, 2006 the Old Mutual Columbus Circle Technology and Communications Fund was renamed as indicated on Exhibit A, attached hereto and effective February 16, 2006 the Old Mutual Analytic U.S. Long/Short Fund and the Old Mutual Barrow Hanley Value Fund were renamed as indicated on Exhibit A, attached hereto.

NOW, THEREFORE, the parties agree as follows:

1. All references in the Agency Agreement to PBHG Funds, Inc. or PBHG Funds are hereby replaced with Old Mutual Advisor Funds II.

2. Paragraph 26(M) of the Agency Agreement is hereby amended to state as follows:

All notices to be given hereunder shall be deemed properly given if delivered in person or if sent by U.S. mail, first class, postage prepaid, or if sent by facsimile and thereafter confirmed by mail as follows:

If to DST:

DST Systems, Inc.

0000 Xxxxxxxx, 0^xx Xx.

Xxxxxx Xxxx, Xxxxxxxx 00000

Attn: Senior Vice President-Full Service

Facsimile No.: 000-000-0000

With a copy of non-operational notices to:

DST Systems, Inc.

000 X. 00^xx Xx., 0^xx Xx.

Xxxxxx Xxxx, Xxxxxxxx 00000

Attn: Legal Department

Facsimile No.: 000-000-0000

If to the Fund:

Old Mutual Fund Services

0000 Xxxxx Xxxxxx Xxxxxx, 0^xx Xxxxx

Xxxxxx, Xxxxxxxx 00000

Attn: Xxxx Xxxxx

Facsimile No.: 000-000-0000

With copy to:

Old Mutual Capital, Inc.

0000 Xxxxx Xxxxxx Xxxxxx, 0^xx Xxxxx

Xxxxxx, Xxxxxxxx 00000

Attn: Xxxxx Xxxxx

Facsimile No.: 000-000-0000

3. Exhibit A to the Agency Agreement shall be replaced with the Exhibit A attached hereto.

IN WITNESS WHEREOF, the parties have caused this amendment to be executed by their respective duly authorized officers, to be effective as of the day and year first written above.

DST SYSTEMS, INC.

By:	/s/ Xxxxxx X. Xxxxxxx
Name:	Xxxxxx X. Xxxxxxx
Title:	Vice President

OLD MUTUAL ADVISOR FUNDS II

By:	/s/ Xxxxxx X. Xxxxx
Name:	Xxxxxx X. Xxxxx
Title:	Assistant Treasurer

EXHIBIT A TO AGENCY AGREEMENT

DATED JANUARY 1, 1998, AS AMENDED, BETWEEN

DST SYSTEMS, INC. AND OLD MUTUAL ADVISOR FUNDS II

FUND NAME	TYPE OF ORGANIZATION	OPEN/CLOSED	STATE OF ORGANIZATION	TAXPAYER I.D. NUMBER
Old Mutual Analytic U.S. Long/Short Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Barrow Hanley Value Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Columbus Circle Technology and Communications Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Emerging Growth Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Focused Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Growth Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Xxxxxxx REIT Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Large Cap Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Large Cap Growth Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Large Cap Growth Concentrated Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Mid-Cap Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Select Growth Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Small Cap Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Strategic Small Company Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual TS&W Small Cap Value Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Cash Reserves Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Xxxxxx Intermediate Fixed Income Fund	Business Trust	Open	Delaware	00-0000000
Old Mutual Xxxxxx Xxxxx Term Fixed Income Fund	Business Trust	Open	Delaware	00-0000000