AMENDMENT TO ADMINISTRATION AGREEMENT This Amendment dated as of _________, 1998, is entered into by FORWARD FUNDS, INC. (the "Fund") and FIRST DATA INVESTOR SERVICES GROUP, INC. ("Investor Services Group"). WHEREAS, the Fund and Investor Services...

                                  AMENDMENT TO
                            ADMINISTRATION AGREEMENT


         This Amendment dated as of _________,  1998, is entered into by FORWARD
FUNDS, INC. (the "Fund") and FIRST DATA INVESTOR SERVICES GROUP, INC. ("Investor
Services Group").

         WHEREAS,  the Fund and  Investor  Services  Group have  entered into an
Administration Agreement dated as of April 1, 1998 (the "Agreement"); and

         WHEREAS,  the Fund  and  Investor  Services  Group  wish to  amend  the
Agreement  to add new  investment  portfolios  of the Fund to  Schedule A of the
Agreement;

         NOW,  THEREFORE,  the parties  hereto,  intending  to be legally  bound
hereby, hereby agree as follows:

         I. Schedule A to the  Agreement is hereby  deleted in full and replaced
with the attached Schedule A.

         II. Except to the extent  amended  hereby,  the Agreement  shall remain
unchanged  and in full force and effect and is hereby  ratified and confirmed in
all respects as amended hereby.

         IN WITNESS WHEREOF,  the undersigned have executed this Amendment as of
the date and year first written above.

                                           FORWARD FUNDS, INC.



                                           By: __________________________


                                           FIRST DATA INVESTOR SERVICES
                                           GROUP, INC.



                                           By: __________________________







                                   SCHEDULE A

                               LIST OF PORTFOLIOS

                                 The Global Fund
                              The Money Market Fund
                          The International Equity Fund
                                 The Equity Fund
                              The Global Bond Fund
                       The Small Capitalization Stock Fund