0000894189-05-002527 Sample Contracts

PROFESSIONALLY MANAGED PORTFOLIOS INVESTMENT ADVISORY AGREEMENT CAN SLIMTM Select Growth Fund
Investment Advisory Agreement • September 21st, 2005 • Professionally Managed Portfolios • California

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 31st day of August, 2005, by and between Professionally Managed Portfolios, a Massachusetts business trust (hereinafter called the "Trust"), on behalf of the following series of the Trust, CAN SLIMTM Select Growth Fund (the "Fund") and Duncan-Capital Management, L.P. (hereinafter called the "Advisor").

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PROFESSIONALLY MANAGED PORTFOLIOS OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • September 21st, 2005 • Professionally Managed Portfolios • California

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 31st day of August, 2005, by and between Professionally Managed Portfolios, a Massachusetts business trust (the “Trust”), on behalf of the CAN SLIMTM Select Growth Fund (the “Fund”), a series of the Trust, and the Advisor of the Fund, Duncan-Hurst Capital Management, L.P. (the “Advisor”).

SUBLICENSE AGREEMENT
Sublicense Agreement • September 21st, 2005 • Professionally Managed Portfolios • California

THIS SUBLICENSE AGREEMENT (“Sublicense”) is made as of the 12th day of September, 2005 between Duncan-Hurst Capital Management, L.P. (“DHCM”) and Professionally Managed Portfolios, on behalf of the CAN SLIM Select Growth Fund (the “Fund”).

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