AMENDMENT
DATED FEBRUARY 17, 2006
TO THE
ACCOUNTING SERVICES AGREEMENT
BETWEEN
RYDEX DYNAMIC FUNDS
AND RYDEX FUND SERVICES, INC.,
DATED MAY 1, 2000,
AS AMENDED
AMENDMENT TO THE
ACCOUNTING SERVICES AGREEMENT
DATED MAY 1, 2000, AS AMENDED,
BETWEEN
RYDEX DYNAMIC FUNDS
AND
RYDEX FUND SERVICES, INC.
The following Amendment is made to the Accounting Services Agreement between
Rydex Dynamic Funds (the "Trust") and Rydex Fund Services, Inc. (the
"Servicer"), dated May 1, 2000, as amended to date (the "Agreement"), and is
hereby incorporated into and made a part of the Agreement:
The fourth paragraph under the section "Witnesseth" of the Agreement
is amended, effective February 17, 2006 to read as follows:
WHEREAS, the board of trustees of the Trust (the "Trustees") have
created the following Funds of the Trust: Dynamic S&P 500 Fund (formerly,
Titan 500 Fund), Inverse Dynamic S&P 500 Fund (formerly, Tempest 500
Fund), Inverse Dynamic OTC Fund (formerly, Venture 100 Fund), Dynamic OTC
Fund (formerly, Velocity 100 Fund), Dynamic Dow Fund (formerly, Long
Dynamic Dow 30 Fund), Inverse Dynamic Dow Fund (formerly, Inverse Dynamic
Dow 30 Fund), Dynamic S&P 500 Master Fund (formerly, Titan 500 Master
Fund), Inverse Dynamic S&P 500 Master Fund (formerly, Tempest 500 Master
Fund), Inverse Dynamic OTC Master Fund (formerly, Venture 100 Master
Fund), Dynamic OTC Master Fund (formerly, Velocity 100 Master Fund),
Dynamic Dow Master Fund (formerly, Long Dynamic Dow 30 Master Fund),
Inverse Dynamic Dow Master Fund (formerly, Inverse Dynamic Dow ▇▇ ▇▇▇▇▇▇
▇▇▇▇), ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ FUND, INVERSE ▇▇▇▇▇▇▇ 2000 FUND, LEVERAGED
▇▇▇▇▇▇▇ 2000 MASTER FUND, AND INVERSE ▇▇▇▇▇▇▇ 2000 MASTER FUND
(collectively, the "Funds");
ADDITIONS ARE NOTED IN BOLD.
In witness whereof, the parties hereto have caused this Amendment to be executed
in their names and on their behalf and through their duly-authorized officers as
of the 17th day of February, 2006.
RYDEX DYNAMIC FUNDS
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
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By: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
Title: President
RYDEX FUND SERVICES, INC.
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
-----------------------------
By: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
Title: President