AMENDMENT TO SUB-ADVISORY AGREEMENT BETWEEN COVA INVESTMENT ADVISORY CORPORATION, LORD ABBETT & CO. AND COVA SERIES TRUST

                     AMENDMENT TO SUB-ADVISORY AGREEMENT
                                    BETWEEN
                     COVA INVESTMENT ADVISORY CORPORATION,
                               LORD XXXXXX & CO.
                                      AND
                               COVA SERIES TRUST


WHEREAS,  COVA  INVESTMENT ADVISORY CORPORATION (the "Advisor"), LORD XXXXXX &
CO.  (the  "Sub-Advisor")  and  COVA SERIES TRUST (the "Trust") entered into a
Sub-Advisory  Agreement  dated April 1, 1996 (the "Agreement") with respect to
the  Bond  Debenture  Portfolio;

WHEREAS,  said  Agreement  provides that it may be amended by agreement of all
the  parties  thereto;

NOW  THEREFORE,
     Pursuant  to Section 8 of the Agreement, said Agreement is hereby amended
as  follows:

     The  Sub-Advisor  is  hereby  retained  by  the  Advisor  to  manage  the
investment  and  reinvestment  of the assets of the following Sub-Trusts which
shall  be established under the Trust effective May 1, 1997 in accordance with
the  terms  of  the  Agreement,  as  amended:

                    Mid-Cap  Value  Sub-Trust,
                    Large  Cap  Research  Sub-Trust,
                    Developing  Growth  Sub-Trust,
                    Lord  Xxxxxx  Growth  and  Income  Sub-Trust.

     Exhibit  A is amended with the addition of the compensation rates for the
new  portfolios  as  set  forth  in  the  Revised  Exhibit  A attached hereto.

 WITNESS  the  due  execution  hereof  effective  this  1st  day of May, 1997.

                              COVA  INVESTMENT
                              ADVISORY  CORPORATION
Attest:

__________________________               By:__________________________________


                              LORD  XXXXXX  &  CO.
Attest:

__________________________               By:__________________________________

                              COVA  SERIES  TRUST
Attest:

__________________________               By:__________________________________

                                                           REVISED

                                                                     EXHIBIT A


                               COVA SERIES TRUST

                           SUB-ADVISORY COMPENSATION


For  all  services  rendered  by  Sub-Advisor  hereunder, Advisor shall pay to
Sub-Advisor  and  Sub-Advisor  agrees  to  accept as full compensation for all
services rendered hereunder, fees at the end of each calendar month equal to a
percentage  of  the  average  daily  net  assets of the Sub-Trusts as follows:

     Portfolio                                            % Per Annum

     Bond  Debenture  Portfolio                           .50 of 1%

     Mid-Cap  Value  Portfolio                            .75 of 1%

     Large  Cap  Research  Portfolio                      .75  of  1%

     Developing  Growth  Portfolio                        .65  of  1%

     Lord  Xxxxxx  Growth  and  Income  Portfolio         .50  of  1%