Amendment #2 (dated December 31, 1998) to SCHEDULE A TO ADMINISTRATIVE SERVICES AGREEMENT The Administrative Services Agreement dated November 11, 1996 between Federated Administrative Services and FundManager Portfolios includes the following...

                                                   Exhibit h(vi) under form N-1A
                                            Exhibit Ex-10 under Item 24/Reg. S-K

                    Amendment #2 (dated December 31, 1998) to
                                   SCHEDULE A
                                       TO
                        ADMINISTRATIVE SERVICES AGREEMENT


     The  Administrative  Services  Agreement  dated  November  11, 1996 between
Federated  Administrative  Services  and  FundManager  Portfolios  includes  the
following  portfolios  (and any classes  thereof)  effective  as of the date set
forth above:

                           Aggressive Growth Portfolio
                Class A Shares (formerly Financial Adviser Class)
                                 Class B Shares

                          Growth with Income Portfolio
                Class A Shares (formerly Financial Adviser Class)
                                 Class B Shares

                                Growth Portfolio
                Class A Shares (formerly Financial Adviser Class)
                                 Class B Shares

                                 Bond Portfolio
                Class A Shares (formerly Financial Adviser Class)

                         Managed Total Return Portfolio
                Class A Shares (formerly Financial Adviser Class)
                                 Class B Shares

                             International Portfolio
                Class A Shares (formerly Financial Adviser Class)
                                 Class B Shares


                                           FUNDMANAGER PORTFOLIOS

                                           By:                       
                                           Name:
                                           Title: President


                                           FEDERATED ADMINISTRATIVE SERVICES

                                           By:                     
                                           Name:
                                           Title: