0000950153-03-001281 Sample Contracts

SCHEDULE A
Expense Limitation Agreement • July 7th, 2003 • Ing Equity Trust

Approved by the Board of Trustees on May 9, 2001 for ING Principal Protection Fund; on November 2, 2001 for ING Principal Protection Fund II; on February 26, 2002 for ING Principal Protection Fund III; on May 24, 2002 for ING Principal Protection Fund IV; on August 20, 2002 for ING Principal Protection Fund V; and on November 22, 2002 for ING Principal Protection Fund VI, ING Principal Protection Fund VII and ING Principal Protection Fund VIII.

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FOREIGN CUSTODY MANAGER AGREEMENT
Foreign Custody Manager Agreement • July 7th, 2003 • Ing Equity Trust

* This Amended Schedule 1 will be effective with respect to this Fund upon the effective date of the initial Registration Statement with respect to the Fund.

ANNUAL INVESTMENT LAST CONTINUED/ SERIES MANAGEMENT FEE APPROVED BY BOARD REAPPROVAL DATE ------------- --------------------------------- ----------------- ----------------- ING Principal Offering Phase 0.125% May 9, 2001 May 9, 2003 Protection Fund...
Sub-Adviser Agreement • July 7th, 2003 • Ing Equity Trust

Pursuant to Section 1 of the Sub-Adviser Agreement dated May 9, 2001, as amended, between ING Investments, LLC (successor by merger to ING Pilgrim Investments, LLC) and Aeltus Investment Management, Inc. (the "Agreement") we hereby notify you of our intention to retain you as Sub-Adviser to render investment advisory services to ING Principal Protection Fund VIII, a newly established series of ING Equity Trust (formerly Pilgrim Equity Trust), upon all of the terms and conditions set forth in the Agreement. Upon your acceptance, the Agreement has been modified to give effect to the foregoing by adding the "ING Principal Protection Fund VIII" to Schedule A of the Agreement. The Amended and Restated Schedule A, with the annual investment management fees indicated for the series, is attached hereto.

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