▇▇▇▇ ▇▇▇▇▇▇▇ SERIES TRUST
On behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ REAL ESTATE FUND
AMENDMENT TO INVESTMENT MANAGEMENT CONTRACT
It is hereby agreed that on June 7, 2005, the Board of Trustees of ▇▇▇▇
▇▇▇▇▇▇▇ Real Estate Fund (the "Fund") voted to amend the first paragraph of
Section 5 of the Fund's Investment Management Contract, effective July 1, 2005,
as follows:
5. COMPENSATION OF THE ADVISER. For all services to be rendered, facilities
furnished and expenses paid or assumed by the Adviser as herein provided,
the Adviser shall be entitled to a fee, paid monthly in arrears, at an
annual rate equal to (i) 0.80% of the average daily net asset value of the
Fund up to $1,500,000,000 of average daily net assets; and (ii) 0.75% of
the amount over $1,500,000,000 of average daily net assets.
Executed this 1st day of July, 2005.
▇▇▇▇ ▇▇▇▇▇▇▇ SERIES TRUST,
On behalf of ▇▇▇▇ ▇▇▇▇▇▇▇ Real Estate Fund
By: /s/▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
Assistant Vice President and Assistant Secretary
▇▇▇▇ ▇▇▇▇▇▇▇ ADVISERS, LLC
By: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
Assistant Vice President and Assistant Secretary
