AMENDMENT
DATED MARCH 31, 2008
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 March 31, 2008 to read as follows:
WHEREAS, the board of trustees of the Trust (the "Trustees")
have created the following Funds of the Trust: S&P 500 2x Strategy
Fund, Inverse S&P 500 2x Strategy Fund, Inverse NADAQ-100(R) 2x
Strategy Fund, NASDAQ-100(R) 2x Strategy Fund, Dow 2x Strategy Fund,
Inverse Dow 2x Strategy Fund, ▇▇▇▇▇▇▇ 2000(R) 2x Strategy Fund, and
Inverse ▇▇▇▇▇▇▇ 2000(R) 2x Strategy 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 31st day of March, 2008.
RYDEX DYNAMIC FUNDS
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
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By: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
Title: President
RYDEX FUND SERVICES, INC.
/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
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By: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
Title: President