0001193805-06-001660 Sample Contracts

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AMENDED AND RESTATED INVESTMENT MANAGEMENT AGREEMENT between
Investment Management Agreement • June 30th, 2006 • Ing Mutual Funds

Pursuant to the Amended and Restated Investment Management Agreement dated February 1, 2005, between ING Mutual Funds and ING Investments, LLC (the "Agreement") we hereby notify you of our intention to retain you as Manager to render investment advisory services to ING Diversified International Fund, ING Emerging Markets Fixed Income Fund, ING Greater China Fund, ING Index Plus International Equity Fund and ING International Capital Appreciation Fund, five newly established series of ING Mutual Funds (the "Funds"), effective December 7, 2005, upon all of the terms and conditions set forth in the Agreement. Upon your acceptance, the Agreement will be modified to give effect to the foregoing by adding the Fund to Schedule A of the Agreement. The Amended Schedule A, with the annual investment management fee indicated for the Funds, is attached hereto.

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