0001104659-08-005093 Sample Contracts

AGREEMENT TO WAIVE FEES AND REIMBURSE EXPENSES
Waive Fees and Reimburse Expenses • January 28th, 2008 • Ariel Investment Trust

THIS AGREEMENT is made this 23 day of August 2007, between Ariel Capital Management, LLC, a Delaware limited liability company (the “Adviser/Manager”), and Ariel Investment Trust, a Massachusetts business trust (the “Trust”).

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ARIEL INVESTMENT TRUST TRANSFER AGENT SERVICING AGREEMENT
Ariel Investment Trust • January 28th, 2008 • Ariel Investment Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 6th day of July, 2007, by and between ARIEL INVESTMENT TRUST, a Massachusetts business trust (the “Trust”), and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

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