Exhibit (h)(1)(iii)
[ING FUNDS LOGO]
December 1, 2004
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Executive Vice President
ING Funds Services, LLC
▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Dear ▇▇. ▇▇▇▇▇▇:
Pursuant to the Administrative Services Agreement dated November 19, 2003,
between ING Partners, Inc. and ING Funds Services, LLC (the "Agreement") we
hereby notify you of our intention to (1) retain you as Administrator to render
administrative and other services to ING LifeGoals 2015 Portfolio, ING LifeGoals
2025 Portfolio, ING LifeGoals 2035 Portfolio, ING LifeGoals 2045 Portfolio, and
ING LifeGoals Income Portfolio, five newly established series of ING Partners,
Inc. (the "New Funds"), and (2) modify the annual administrative services fees
for ING American Century Select Portfolio, ING ▇▇▇▇▇▇▇▇▇▇▇ Global Portfolio, ING
Salomon Brothers Large Cap Growth Portfolio, ING ▇. ▇▇▇▇ Price Diversified Mid
Cap Growth Portfolio, and ING ▇▇▇ ▇▇▇▇▇▇ Equity and Income Portfolio, 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 New
Funds to and lowering the annual administrative services fees on AMENDED
SCHEDULE A of the Agreement. The AMENDED SCHEDULE A is attached hereto.
AMENDED SCHEDULE A was also updated to reflect name changes of ING ▇▇▇▇▇
Aggressive Growth Portfolio to ING ▇. ▇▇▇▇ Price Diversified Mid Cap Growth
Portfolio, ING ▇▇▇▇▇ Capital Appreciation Portfolio to ING Salomon Brothers
Large Cap Growth Portfolio, ING ▇▇▇▇▇ Growth Portfolio to ING American Century
Select Portfolio, ING MFS Global Growth Portfolio to ING ▇▇▇▇▇▇▇▇▇▇▇ Global
Portfolio and ING UBS U.S. Allocation Portfolio to ING ▇▇▇ ▇▇▇▇▇▇ Equity and
Income Portfolio.
▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇. Tel: ▇▇▇-▇▇▇-▇▇▇▇ ING Partners, Inc.
Scottsdale, AZ ▇▇▇▇▇-▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇
▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇
Please signify your acceptance to act as Administrator under the Agreement
with respect to the aforementioned New Funds.
Very sincerely,
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
Vice President
ING Partners, Inc.
ACCEPTED AND AGREED TO:
ING Funds Services, LLC
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Executive Vice President
AMENDED SCHEDULE A
SERIES OF ING PARTNERS, INC.
ING Aeltus Enhanced Index Portfolio
ING American Century Select Portfolio
ING American Century Small Cap Value Portfolio
ING Baron Small Cap Growth Portfolio
ING Fidelity(R) VIP Contrafund(R) Portfolio
ING Fidelity(R) VIP Equity Income Portfolio
ING Fidelity(R) VIP Growth Portfolio
ING Fidelity(R) VIP Mid Cap Portfolio
ING ▇▇▇▇▇▇▇ ▇▇▇▇▇(R) Capital Growth Portfolio
ING ▇▇▇▇▇▇▇ ▇▇▇▇▇(R) Core Equity Portfolio
ING JPMorgan ▇▇▇▇▇▇▇ International Portfolio
ING JPMorgan Mid Cap Value Portfolio
ING LifeGoals 2015 Portfolio
ING LifeGoals 2025 Portfolio
ING LifeGoals 2035 Portfolio
ING LifeGoals 2045 Portfolio
ING LifeGoals Income Portfolio
ING MFS Capital Opportunities Portfolio
ING OpCap Balanced Value Portfolio
ING ▇▇▇▇▇▇▇▇▇▇▇ Global Portfolio
ING ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Portfolio
ING PIMCO Total Return Portfolio
ING Salomon Brothers Aggressive Growth Portfolio
ING Salomon Brothers Fundamental Value Portfolio
ING Salomon Brothers Investors Value Portfolio
ING Salomon Brothers Large Cap Growth Portfolio
ING ▇. ▇▇▇▇ Price Diversified Mid Cap Growth Portfolio
ING ▇. ▇▇▇▇ Price Growth Equity Portfolio
ING UBS U.S. Large Cap Equity Portfolio
ING ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Portfolio
ING ▇▇▇ ▇▇▇▇▇▇ Equity and Income Portfolio
AMENDED SCHEDULE B
ADMINISTRATIVE SERVICES FEES
SERIES FEES
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ING Aeltus Enhanced Index Portfolio 0.20%
ING American Century Select Portfolio 0.02%
ING American Century Small Cap Value Portfolio 0.40%
ING Baron Small Cap Growth Portfolio 0.40%
ING Fidelity(R) VIP Contrafund(R) Portfolio 0.05% while Series invested in Master
0.15% for Stand-alone Series
ING Fidelity(R) VIP Equity Income Portfolio 0.05% while Series invested in Master
0.15% for Stand-alone Series
ING Fidelity(R) VIP Growth Portfolio 0.05% while Series invested in Master
0.15% for Stand-alone Series
ING Fidelity(R) VIP Mid Cap Portfolio 0.05% while Series invested in Master
0.17% for Stand-alone Series
ING ▇▇▇▇▇▇▇ ▇▇▇▇▇(R) Capital Growth Portfolio 0.20%
ING ▇▇▇▇▇▇▇ ▇▇▇▇▇(R) Core Equity Portfolio 0.20%
ING JPMorgan ▇▇▇▇▇▇▇ International Portfolio 0.20%
ING JPMorgan Mid Cap Value Portfolio 0.35%
ING LifeGoals 2015 Portfolio 0.02%
ING LifeGoals 2025 Portfolio 0.02%
ING LifeGoals 2035 Portfolio 0.02%
ING LifeGoals 2045 Portfolio 0.02%
ING LifeGoals Income Portfolio 0.02%
ING MFS Capital Opportunities Portfolio 0.25%
ING OpCap Balanced Value Portfolio 0.20%
SERIES FEES
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ING ▇▇▇▇▇▇▇▇▇▇▇ Global Portfolio 0.06%
ING ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Portfolio 0.04%
ING PIMCO Total Return Portfolio 0.35%
ING Salomon Brothers Aggressive Growth Portfolio 0.13%
ING Salomon Brothers Fundamental Value Portfolio 0.20%
ING Salomon Brothers Investors Value Portfolio 0.20%
ING Salomon Brothers Large Cap Growth Portfolio 0.23%
ING ▇. ▇▇▇▇ Price Diversified Mid Cap Growth Portfolio 0.02%
ING ▇. ▇▇▇▇ Price Growth Equity Portfolio 0.15%
ING UBS U.S. Large Cap Equity Portfolio 0.15%
▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Portfolio 0.35%
ING ▇▇▇ ▇▇▇▇▇▇ Equity and Income Portfolio 0.02%