d)(3)(ii) (ING FUNDS LOGO) December 20, 2006 Michael Gioffre Senior Vice President ING Investment Management Co. 10 State House Square Hartford, CT 06103-3607 Dear Mr. Gioffre: Pursuant to the Sub-Advisory Agreement dated August 1, 2003, as amended,...

                                                                      (d)(3)(ii)

(ING FUNDS LOGO)

December 20, 2006

Xxxxxxx Xxxxxxx
Senior Vice President
ING Investment Management Co.
00 Xxxxx Xxxxx Xxxxxx
Xxxxxxxx, XX 00000-0000

Dear Xx. Xxxxxxx:

     Pursuant to the Sub-Advisory Agreement dated August 1, 2003, as amended,
between ING Investments, LLC and ING Investment Management Co. (the "Agreement")
we hereby notify you of our intention to retain you as Sub-Adviser to render
investment advisory services to ING Disciplined International SmallCap Fund, a
newly established series of ING Mutual Funds (the "Fund"), upon all of the terms
and conditions set forth in the Agreement, effective December 20, 2006. Upon
your acceptance, the Agreement will be modified to give effect to the foregoing
by adding the above-mentioned Fund to AMENDED SCHEDULE A of the Agreement. The
AMENDED SCHEDULE A, with the annual sub-advisory fees indicated for the Fund, is
attached hereto.

     AMENDED SCHEDULE A has also been updated to reflect the name change of ING
Precious Metals Fund to ING Global Natural Resources Fund.

     Please signify your acceptance to act as Sub-Adviser under the Agreement
with respect to the Fund by signing below.

                                        Very sincerely,

                                        /s/ Xxxx Xxxxx
                                        ----------------------------------------
                                        Xxxx Xxxxx
                                        Senior Vice President
                                        ING Investments, LLC


ACCEPTED AND AGREED TO:
ING Investment Management Co.


By: /s/ Xxxxxxx X. Xxxxxx
    ------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: SVP & CFO , Duly Authorized

0000 X. Xxxxxxxxxx Xxxxx Xx.        Tel: 000-000-0000       ING Investments, LLC
Scottsdale, AZ 00000-0000           Fax: 000-000-0000
                                    xxx.xxxxxxxx.xxx



                               AMENDED SCHEDULE A

                               WITH RESPECT TO THE

                             SUB-ADVISORY AGREEMENT

                                     BETWEEN

                              ING INVESTMENTS, LLC

                                       AND

                          ING INVESTMENT MANAGEMENT CO.



SERIES                                                    ANNUAL SUB-ADVISER FEE
------                                        ---------------------------------------------
                                              (AS A PERCENTAGE OF AVERAGE DAILY NET ASSETS)
                                           
ING Disciplined International SmallCap Fund                        0.27%
ING Global Bond Fund                                               0.18%
ING Global Natural Resources Fund                 0.4500% of first $50 million of assets
                                               0.3375% for assets in excess of $50 million
ING International Fund                                           0.4500%