AMENDMENT NO. 1 TO SPONSOR AGREEMENT BETWEEN TOUCHSTONE ADVISORS, INC. AND SELECT ADVISORS VARIABLE INSURANCE TRUST

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                                                                Exhibit 8(e)(ii)



                                 AMENDMENT NO. 1
                                       TO
                                SPONSOR AGREEMENT
                                     BETWEEN
     TOUCHSTONE ADVISORS, INC. AND SELECT ADVISORS VARIABLE INSURANCE TRUST

         This Amendment No. 1 to Sponsor Agreement is dated as of May 1, 1998
and amends the Sponsor Agreement (the "Sponsor Agreement") dated September 9,
1994 made by and between Select Advisors Variable Insurance Trust, a
Massachusetts business trust (the "Trust"), and Touchstone Advisors, Inc., an
Ohio corporation ("Touchstone"), and.

         WHEREAS, the Touchstone acts as sponsor to the Trust pursuant to the 
Sponsor Agreement; and

         WHEREAS, the Trust's Board of Trustees has amended and restated the
Establishment and Designation of Series appended to the Trust's Declaration of
Trust (the "Declaration") to add an additional series of Shares (as defined in
the Declaration) of the Trust, to be designated the Touchstone Value Plus
Portfolio;

         NOW, THEREFORE, Section 4 of the Sponsor Agreement is hereby amended,
effective as of May 1, 1998, to read as set forth below, the sole change in such
paragraph being the addition of information with respect to the Value Plus
Portfolio.

                  4.      Operating Expense Waivers or Reimbursement. Touchstone
         shall waive all or a portion of its fees pursuant to this Sponsor
         Agreement and/or reimburse a portion of the operating expenses
         (including amortization of organization expenses but excluding
         interest, taxes, brokerage commissions and other portfolio transaction
         expenses, capital expenditures and extraordinary expenses) ("Expenses")
         of each Portfolio of the Trust such that after such reimbursement the
         aggregate Expenses of the Portfolio shall be equal on an annual basis
         to the following percentages of the average daily net assets of the
         Portfolio for the Portfolio's then-current fiscal year: Emerging Growth
         Portfolio, 1.15%; International Equity Portfolio, 1.25%; Balanced
         Portfolio, 0.90%; Income Opportunity Portfolio, 0.85%; Standby Income
         Portfolio, 0.50%; and Value Plus Portfolio, 0.85%.

                          Touchstone's obligations in this Section 4 may be
         terminated, with respect to any Portfolio, by Touchstone as of the end
         of any calendar quarter after December 31, 1995, upon at least 30 days
         prior written notice to the Trust (an "Expense Cap Termination").

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         IN WITNESS WHEREOF, the parties have caused this Amendment No. 1 to the
Sponsor Agreement to be executed and delivered in their names and on their
behalf as of the day and year first above written. The person signing on behalf
of the Trust has executed this Agreement not individually, but as an officer
under the Trust's Declaration of Trust, and the obligations of this Agreement
are not binding upon such person or upon any of the Trust's Trustees, officer or
shareholder individually, but bind only the Trust estate.


                                     SELECT ADVISORS VARIABLE 
                                     INSURANCE TRUST


                                     By: ____________________________________
                                         Xxxxxx X. Xxxxxxx, Xx., President


                                     TOUCHSTONE ADVISORS INC.


                                     By: ____________________________________


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