Revised Global Custody Fee Schedule

Between Brown Brothers Harriman & Co.

and

Hotchkis and Wiley Funds

Effective November 1, 2007

Global Custody - payable monthly on value of assets per portfolio:

Domestic:
	Asset Charge	Transaction Charge
United States	.225    First $10 Billion	$  4
	.20      Next $10 Billion
	.175    Over $20 Billion

Other Transactions:
	Wires and Transfers	$  4 (automated)
		$10 (non-automated)
	Third Party Derivatives	$35
	OTC Derivatives	$50
	Non-Automated Trade Instructions	$15
	On-Line Transaction Repair2	$15
	Segregated Collateral Account Maintenance Fee	$100 per account per month

BBH&Co. Out-of-Pocket Expenses

There will be no BBH&Co. out-of-pocket expenses passed on to the fund unless agreed upon in advance.

Any countries not shown on the current fee schedule will be negotiated at the time of investment.

Brown Brothers Harriman, Co.   /s/ James R. Kent                            James R. Kent Managing Director Hotchkis and Wiley Funds   /s/ Anna Marie Lopez              Anna Marie Lopez President

1 A non-automated instruction charge will be assessed on a per instruction basis for all instructions which are not provided to BBH in properly formatted SWIFT or ISITC form.

2 An on-line transaction repair charge will be assessed on a per instruction basis for all instructions which require manual intervention to process.