EXHIBIT 5(A)(7)
LETTER AGREEMENT
December 1, 1998
▇▇▇▇▇▇▇ Fund Distributors, Inc.
▇▇▇ ▇ ▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Dear Sirs:
FRIC is redesignating its Premier Adviser Class shares as Premier Class
shares. FRIC's previously authorized Premier Institutional Class shares are
being redesignated at Class E shares.
Additionally, in connection with these changes, pursuant to Introductory
Section 1 of the Distribution Agreement between ▇▇▇▇▇ ▇▇▇▇▇▇▇ Investment Company
("FRIC") and ▇▇▇▇▇▇▇ Fund Distributors, Inc., dated March 7, 1988, FRIC advises
you that it is creating new classes of shares for certain of its Funds, as
follows:
New Class C shares of the Fixed Income II Fund (which is being renamed
Short Term Bond Fund); and
New Class C shares and new Class E shares of the Limited Volatility Tax
Free Fund (which is being renamed Tax Exempt Bond Fund).
FRIC desires ▇▇▇▇▇▇▇ Fund Distributors, Inc. to serve as Distributor with
respect to the shares of Class C, Class E, and Premier Class of each applicable
Fund pursuant to the terms and conditions of the Distribution Agreement. The
fees to be charged by the Distributor in return for the Distributor's services
are the same as in the Distribution Agreement.
Please indicate your acceptance to act as Distributor with respect to each such
Class of the Funds by executing the acceptance copy of this letter agreement and
returning it to the undersigned.
Sincerely,
▇▇▇▇▇ ▇▇▇▇▇▇▇ INVESTMENT COMPANY
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
President
Accepted this 1st day of December, 1998
▇▇▇▇▇▇▇ FUND DISTRIBUTORS, INC.
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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▇▇▇▇ ▇. ▇▇▇▇▇▇▇
President