AMENDMENT TO ADMINISTRATION AGREEMENT The Administration Agreement between Investment Company Administration Corporation and Builders ProLoan Fund, Inc. (the "Fund") dated October 20, 1997 is hereby amended as follows: The parties to the Agreement...

                      AMENDMENT TO ADMINISTRATION AGREEMENT


         The Administration  Agreement between Investment Company Administration
Corporation and Builders  ProLoan Fund, Inc. (the "Fund") dated October 20, 1997
is hereby amended as follows:

         The   parties   to  the   Agreement   shall   be   Investment   Company
         Administration,  L.L.C.,  an Arizona  Limited  Liability  Company,  and
         Builders ProLoan Fund, Inc., a Maryland Corporation.

         IN WITNESS  WHEREOF,  the  parties  hereto  have  caused the  foregoing
instrument to be executed by duly  authorized  persons,  as of this _____ day of
___________________, 1999.


INVESTMENT COMPANY ADMINISTRATION CORPORATION
a Delaware Corporation


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By: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Its: Executive Vice President


INVESTMENT COMPANY ADMINISTRATION, L.L.C.
an Arizona Limited Liability Company


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By: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Its: Managing Member


Builders ProLoan Fund, Inc.
a Maryland Corporation


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By: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Its: President