0000894189-04-002580 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • December 2nd, 2004 • Professionally Managed Portfolios • California

AGREEMENT made as of the 30th day of November, 2004, by and among BTIM Co., a Massachusetts corporation located at 40 Court Street, Boston, MA 02108 (the “Sub-Advisor”), Pro-Conscience Funds, Inc., a California corporation located at 625 Market Street, 16th Floor, San Francisco, CA 94105 (the “Advisor”); and Professionally Managed Portfolios, a Massachusetts business trust located at 615 East Michigan Street, Milwaukee, WI 53202 (the “Trust”), on behalf of the Women’s Equity Fund (the “Fund”).

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