FORM OF AMENDMENT DATED FEBRUARY 17, 2006 TO INVESTOR SERVICES AGREEMENT BETWEEN RYDEX VARIABLE TRUST AND RYDEX DISTRIBUTORS, INC., DATED DECEMBER 31, 1998, AS AMENDED

                                                                Exhibit 99.B.E25

                                     FORM OF
                                    AMENDMENT
                             DATED FEBRUARY 17, 2006
                                       TO
                           INVESTOR SERVICES AGREEMENT
                                     BETWEEN
                              RYDEX VARIABLE TRUST
                          AND RYDEX DISTRIBUTORS, INC.,
                            DATED DECEMBER 31, 1998,
                                   AS AMENDED



                                     FORM OF
                                  AMENDMENT TO
                           INVESTOR SERVICES AGREEMENT
                      DATED DECEMBER 31, 1998, AS AMENDED,
                                     BETWEEN
                              RYDEX VARIABLE TRUST
                                       AND
                            RYDEX DISTRIBUTORS, INC.

RYDEX FUNDS

     Nova Fund
     Ursa Fund
     Precious Metals Fund
     OTC Fund
     Juno Fund
     Large-Cap Europe Fund
     Large-Cap Japan Fund
     Mekros Fund
     Medius Fund
     Titan 500 Fund
     Tempest 500 Fund
     Velocity 100 Fund
     Venture 100 Fund
     Long Dynamic Dow 30 Fund
     Inverse Dynamic Dow 30 Fund
     Large-Cap Value Fund
     Large-Cap Growth Fund
     Mid-Cap Value Fund
     Mid-Cap Growth Fund
     Inverse Mid-Cap Fund
     Small-Cap Value Fund
     Small-Cap Growth Fund
     Inverse Small-Cap Fund
     Strengthening Dollar Fund
     Weakening Dollar Fund
     U.S. Government Bond Fund
     U.S. Government Money Market Fund
     All-Cap Value Fund
     Core Equity Fund
     Internet Fund
     Sector Rotation Fund
     Real Estate Fund



     Utilities Fund
     Commodities Fund
     Absolute Return Strategies Fund
     Market Neutral Fund
     Hedged Equity Fund
     CLS AdvisorOne ▇▇▇▇▇▇▇ VT Fund
     CLS AdvisorOne Clermont VT Fund
     CLS AdvisorOne Berolina Fund
     S&P 500 FUND
     DYNAMIC ▇▇▇▇▇▇▇ 2000 FUND
     INVERSE DYNAMIC ▇▇▇▇▇▇▇ 2000 FUND
     ▇▇▇▇▇▇▇ 2000 FUND

     ADDITIONS ARE NOTED IN BOLD.