July 1, 1994 Van Eck Associates Corporation 122 East 42nd Street New York, New York 10168 Ladies/Gentlemen: Pursuant to Section 12 of the Accounting and Administrative Services Agreement, dated April 20, 1994 (the "Agreement"), between Van Eck Funds...

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                                                                    July 1, 1994


▇▇▇ ▇▇▇ Associates Corporation
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Ladies/Gentlemen:

      Pursuant  to  Section 12 of the  Accounting  and  Administrative  Services
Agreement,  dated April 20, 1994 (the  "Agreement"),  between ▇▇▇ ▇▇▇ Funds (the
"Trust") and ▇▇▇ ▇▇▇ Associates  Corporation  (the  "Administrator"),  please be
advised  that the Trust has  established  two  additional  series of the  Trust,
namely,  Asia  Infrastructure  Fund and Global  SmallCap Fund (the "Fund") which
will each  issue two  classes  of  shares,  namely,  Class A Shares  and Class B
Shares.  The  Trustees  of the Trust have  adopted the  Agreement  to retain the
Administrator  to render services  contemplated by the Agreement for the Fund. A
certification  by the  Secretary of the Trust of the  resolution  adopted by the
Board of Trustees and an amended  Exhibit A reflecting  the addition of the Fund
to the Plan are attached.

      Please confirm below your willingness to render such services.



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  ATTEST: /s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇            BY: /s/ ▇▇▇▇ ▇. ▇▇▇ ▇▇▇
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                                             President




             Confirmed, Agreed to and Accepted this July 1, 1994;



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  ATTEST: /s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇            BY: /s/ ▇▇▇▇ ▇. ▇▇▇ ▇▇▇
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                                             President








                                    EXHIBIT A


Name of Series                           Annual Administrative Fee
--------------                           (as a % of average daily net assets)
                                         ------------------------------------

Global Balanced Fund                     .25 of 1%
Asia Infrastructure Fund                 .25 of 1%
Global SmallCap Fund                     .25 of 1%