0001003297-05-000274 Sample Contracts

Exhibit (e)(2) Form of Amendment to Distribution Agreement between the Registrant and FBR Investment Services, Inc.
Distribution Agreement • August 18th, 2005 • FBR Funds

Effective____________________, the following amendment is hereby made to the Distribution Agreement dated February 27, 2004 by and between The FBR Funds (the "Trust") and FBR Investment Services, Inc. (the "Distributor").

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Exhibit (d)(2) Form of Amendment to Advisory Agreement between the Registrant and FBR Fund Advisers, Inc.
Investment Advisory Agreement • August 18th, 2005 • FBR Funds

Effective__________________, the following amendment is hereby made to the Investment Advisory Agreement dated February 27, 2004 by and between FBR Fund Advisers, Inc. (the "Adviser") and The FBR Funds which may issue one or more series of shares of beneficial interest (the "Trust").

Exhibit (g)(3) Form of Amendment to Agreement for Fund Administration, Fund Accounting Services, Transfer Agency Services and Custody Services between the Registrant and FBR National Trust Company.
FBR Funds • August 18th, 2005

WHEREAS, the Trust and the Company entered into an Agreement for Fund Administration, Fund Accounting Services, Transfer Agency Services and Custody Services ("Agreement") dated February 27, 2004;

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