EXHIBIT D.(1)(e)

AMENDMENT NO. 5 TO INVESTMENT ADVISORY AGREEMENT

     This AMENDMENT NO. 5 to the INVESTMENT ADVISORY AGREEMENT (the “Amendment”) is effective as of October 1, 2007, by and among THE VARIABLE ANNUITY LIFE INSURANCE COMPANY (“VALIC”) and VALIC COMPANY I (“VC I”).

RECITALS

     WHEREAS, VALIC and VALIC Company I (“VC I”) entered into an Investment Advisory Agreement dated January 1, 2002, as amended (the “Agreement”), with respect to the Covered Funds reflected in Schedule A; and

     WHEREAS, the parties wish to amend Schedule A to the Agreement to reflect the fee change to the Blue Chip Growth Fund and the name change of the Social Awareness Fund to the Global Social Awareness Fund.

     NOW, THEREFORE, in consideration of the mutual promises set forth herein, VALIC and VC I agree as follows:

1.	Schedule A Amendment. Schedule A is amended to reflect the advisory fee change to the Blue Chip Growth Fund and the name change of the Social Awareness Fund to the Global Social Awareness Fund.
2.	Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one instrument.
3.	Full Force and Effect. Except as expressly supplemented, amended or consented to hereby, all of the representations, warranties, terms, covenants and conditions of the Agreement shall remain unamended and shall continue to be in full force and effect.

     IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 5 as of the date first above written.

THE VARIABLE ANNUITY LIFE INSURANCE COMPANY
By:	/s/ EVELYN M. CURRAN
	Name:	Evelyn M. Curran
	Title:	Senior Vice President

VALIC COMPANY I
By:	/s/ NORI L. GABERT
	Name:	Nori L. Gabert
	Title:	Vice President and Secretary

EXHIBIT D.(1)(e)

VALIC COMPANY I
SCHEDULE A
to Investment Advisory Agreement
(Effective October 1, 2007)

COVERED FUNDS

Annual Fee computed at the following annual rate, based on average monthly net assets value and payable monthly:

Asset Allocation Fund	0.50%
Blue Chip Growth Fund	0.75%
Broad Cap Value Income Fund	0.70% on the first $250 million
	0.65% on the next $250 million
	0.60% on the next $500 million
	0.55% on assets over $1 billion
Capital Conservation Fund	0.50% on first $250 million
	0.45% on the next $250 million
	0.40% on the next $500 million
	0.35% on assets over $1 billion
Core Equity Fund	0.80% on first $250 million
	0.75% on the next $250 million
	0.70% on the next $500 million
	0.65% on assets over $1 billion
Core Value Fund	0.77% on the first $250 million
	0.72% on the next $250 million
	0.67% on the next $500 million
Foreign Value Fund	0.73% on the first $250 million
	0.68% on the next $250 million
	0.63% on the next $500 million
	0.58% on assets over $1 billion
Global Equity Fund	0.82% on the first $250 million
	0.77% on the next $250 million
	0.72% on the next $500 million
	0.67% over $1 billion
Global Social Awareness Fund	0.50%
Global Strategy Fund	0.50%
Government Securities Fund	0.50% on first $250 million
	0.45% on next $250 million
	0.40% on the next $500 million
	0.35% on assets over $1 billion
Growth and Income Fund	0.75%

EXHIBIT D.(1)(e)

Health Sciences Fund	1.00% on first $500 million
	0.95% on assets over $500 million
Inflation Protected Fund	0.50% on the first $250 million
	0.45% on the next $250 million
	0.40% on assets over $500 million
International Equities Fund	0.35% on the first $500 million
	0.25% on assets over $500 million
International Government Bond Fund	0.50% on the first $250 million
	0.45% on the next $250 million
	0.40% on the next $500 million
	0.35% on assets over $1 billion
International Growth I Fund	0.95% on the first $250 million
	0.90% on the next $250 million
	0.85% on the next $500 million
	0.80% on assets over $1 billion
Large Cap Core Fund	0.70% on the first $250 million
	0.65% on the next $250 million
	0.60% on the next $500 million
	.055% on assets over $1 billion
Large Capital Growth Fund	0.75% on the first $250 million
	0.70% on the next $250 million
	0.65% on assets over $500 million
Mid Cap Index Fund	0.35% on the first $500 million
	0.25% on the next $2.5 billion
	0.20% on the next $2 billion
	0.15% on assets over $5 billion
Mid Cap Strategic Growth Fund	0.70% on the first $250 million
	0.65% on the next $250 million
	0.60% on assets over $500 million
Money Market I Fund	0.40%
Nasdaq-100Ò Index Fund	0.40%
Science & Technology Fund	0.90% on the first $500 million
	0.85% on assets over $500 million
Small Cap Aggressive Growth Fund	0.85% on the first $250 million
	0.75% on assets over $250 million
Small Cap Fund	0.90% on the first $250 million
	0.85% on the next $250 million
	0.80% on the next $500 million
	0.75% on assets over $1 billion

EXHIBIT D.(1)(e)

Small Cap Index Fund	0.35% on the first $500 million
	0.25% on the next $2.5
	0.20% on the next $3 billion to $5 billion
	0.15% on assets over $5 billion
Small Cap Special Values Fund	0.75% on the first $500 million
	0.70% on assets over $500 million
Small Cap Strategic Growth Fund	0.85% on the first $250 million
	0.75% on assets over $250 million
Stock Index Fund	0.35% on the first $500 million
	0.25% on the next $2.5 billion
	0.20% on the next $2 billion
	0.15% on assets over $5 billion
VALIC Ultra Fund	0.89% on the first $250 million
	0.84% on the next $250 million
	0.78% on the next $500 million
	0.73% on assets over $1 billion
Value Fund	0.78% on the first $250 million
	0.73% on the next $250 million
	0.68% on the next $500 million
	0.63% on assets over $1 billion