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EXHIBIT 99.h(9)
AMENDMENT TO EXPENSE CAP AGREEMENT
THIS AMENDMENT TO EXPENSE CAP AGREEMENT ("Amendment"), effective as of
March 1, 2000, is entered into between Hotchkis and Wiley, as investment advisor
("Advisor"), and Hotchkis and Wiley Variable Trust (the "Trust").
WHEREAS, pursuant to an Expense Cap Agreement dated February 23, 1999
(the "Agreement"), the Advisor agreed to limit expenses of certain portfolios of
the Trust through February 29, 2000; and
WHEREAS, the Advisor and the Trust desire to extend the period of such
expense limits; and
WHEREAS, shareholders of the Trust benefit from any expense limits
agreed to by the Advisor;
NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements in this Amendment, the parties, intending to be legally bound, hereby
agree as follows:
A. Extension of Period of Expense Limits. The Advisor agrees to continue
the expense limits set forth in the Agreement through April 30, 2001.
B. Confirmation of Agreement. Except as expressly provided in this
Amendment, the Agreement shall remain in full force and effect and is
hereby ratified and confirmed.
IN WITNESS WHEREOF, the parties have executed this Amendment effective as of the
date first above written.
Hotchkis and Wiley, Hotchkis and Wiley Variable Trust
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Asset Management, L.P.
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Co-Head President