ADDENDUM TO ADMINISTRATION AGREEMENT
The Administration Agreements between BUILDERS PROLOAN FUND, INC. (the
"Fund") and INVESTMENT COMPANY ADMINISTRATION CORPORATION (the "Administrator")
dated October 20, 1997, is hereby amended as follows:
1. PARAGRAPH 7 OF THE AGREEMENT.
7. COMPENSATION. As compensation for services rendered by the
Administrator during the term of this agreement, the Fund will pay the
Administrator a monthly fee at the following annual rates effective August 1,
1998:
AVERAGE NET ASSETS ANNUAL FEE
------------------ ----------
$0 to $150 million $50,000
Over $150 million 0.05% of Average Net Assets
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be
executed by their officers designated below on the day and year first written
above.
BUILDERS PROLOAN FUND, INC.
By: Date:
------------------------------ --------------------------
Name: Xxxx X. Xxxxxxx
Title: President
------------------------------
INVESTMENT COMPANY ADMINISTRATION CORPORATION
By: Date:
------------------------------ --------------------------
Name: Xxxx X. Xxxxxxx
Title: Executive Vice President
---------------------------
