ADDENDUM TO ADVISORY AGREEMENT
.........................., 1996
U.S. Global Investors, Inc.
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Gentlemen:
Pursuant to Section 1(b) of the Advisory Agreement dated September 21, 1994,
between Accolade Funds (the "Trust") and U.S. Global Investors, Inc. (the
"Advisor"), please be advised that the Trust has established one new series of
its shares, namely the Regent Emerging Europe Opportunity Fund, and please be
further advised that the Trust desires to retain the Advisor to render
management and investment advisory services under the Advisory Agreement to this
Fund at the fees stated below:
REGENT EMERGING EUROPE OPPORTUNITY FUND
Monthly Average Net Assets 1/12 of 1.25%
Please state below whether you are willing to render such services at the fees
stated above.
ACCOLADE FUNDS
Attest:_________________________ By:________________________
Secretary Executive Vice President
Date:___________________________
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We are willing to render management and investment advisory services to the
Regent Emerging Europe Opportunity Fund at the fee stated above.
U.S. GLOBAL INVESTORS, INC.
Attest:________________________ By:_______________________________
Secretary President
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