0001021408-02-009726 Sample Contracts

SPIRIT OF AMERICA INVESTMENT FUND, INC. 477 Jericho Turnpike Syosset, New York 11791
Investment Advisory Agreement • July 23rd, 2002 • Spirit of America Investment Fund Inc

This writing is to provide notice of the addition of a new series under the Company: Spirit of America Value Fund (the "New Fund"). The New Fund is to be considered a Fund under the Agreement and shall be subject to the terms set forth under the Agreement unless otherwise provided herein. The Adviser shall be compensated for services rendered under the Agreement as is consistent with the Agreement.

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