0000939891-00-000001 Sample Contracts

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MASTER INVESTMENT ADVISORY CONTRACT LETTER AGREEMENT
Fundmanager Portfolios • January 28th, 2000

Under the Master Investment Advisory Contract between Freedom Capital Management Corporation (the "Adviser") and FundManager Portfolios (the "Trust"), dated May 20, 1998, the Adviser agrees to waive its management fee and limit expenses for the Aggressive Growth Portfolio so that total annual operating expenses do not exceed 1.60% on the Class A Shares and 2.35% on the Class B Shares through the period ending January 31, 2001.

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