0001193125-08-095610 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 30th, 2008 • Wilshire Mutual Funds Inc • California

This Investment Sub-Advisory Agreement (“Agreement”) is made as of the 13th day of November, 2007 by and between Wilshire Associates Incorporated, a California corporation (“Adviser”) and NWQ Investment Management Company, LLC, a limited liability corporation (“Sub-Adviser”). This Agreement supercedes in its entirety, the Investment Sub-Advisory Agreement dated August 4, 2005 and the amendment dated March 29, 2007 thereto.

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AMENDMENT TO CUSTODIAN SERVICES AGREEMENT
Custodian Services Agreement • April 30th, 2008 • Wilshire Mutual Funds Inc

THIS AMENDMENT dated December 27, 2007 (“Amendment”) is made to the Custodian Services Agreement between PFPC TRUST COMPANY, a limited purpose trust company incorporated under the laws of Delaware (“PFPC Trust”), and WILSHIRE MUTUAL FUNDS, INC., a Maryland corporation (the “Fund”), dated June 13, 2005 (the “Agreement”).

CUSTODY AGREEMENT
Custody Agreement • April 30th, 2008 • Wilshire Mutual Funds Inc • New York

AGREEMENT, dated as of November 8, 2007 by and between WILSHIRE MUTUAL FUNDS, INC. (the “Company”), a corporation organized and existing under the laws of the State of Maryland and registered as an open-end management investment company under the 1940 Act (as hereinafter defined), acting with respect to and on behalf of WILSHIRE LARGE CAP CORE 130/30 FUND, which is a fund offered by the Company (the “Fund”), and CUSTODIAL TRUST COMPANY, a bank organized and existing under the laws of the State of New Jersey (the “Custodian”).

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