Unassociated Document

Third Amendment

to the Transfer Agency and Service Agreement

Dated December 3, 2004, by and among

California Investment Trust and

ALPS Fund Services, Inc.

THIS AMENDMENT is made as of October 10, 2011, by and between CALIFORNIA INVESTMENT TRUST (the "Trust") and ALPS FUND SERVICES, INC. ("ALPS").

WHEREAS, the Trusts and ALPS have entered into a Transfer Agency and Service Agreement (the "Agreement") dated December 3, 2004, as amended from time to time.

WHEREAS, effective October 1 0, 2011, the parties desire to add the Shelton Greater China Fund as a party to the Agreement, and the Shelton Greater China Fund desires to become a party to the Agreement.

WHEREAS, the Trust and ALPS wish to modify the Agreement.

NOW, THEREFORE, the parties hereto, intending to be legally bound,·agree as follows:

Consolidation of Trusts. Effective October 10,2011, all references to "California Investment Trust" shall be deleted and replaced with references to both "California Investment Trust" and "Shelton Greater China Fund," which shall be defined collectively as the "Trusts" for purposes of the Agreement wherever the term "Trust" appears therein.

Change in Incorporation. Effective October 10, 2011, all references to the Trusts as "Delaware statutory trusts" shall be deleted and replaced with "Massachusetts business trust" with respect to the Shelton Greater China Fund.

Appendix A - CIT Fund List. Appendix A to the Agreement is hereby deleted and replaced in its entirety with the Appendix A attached hereto.

Miscellaneous. Other than as amended hereby, all terms and conditions of the Agreement and related amendments are unchanged and remain in full force and effect. This Amendment shall be deemed to be an amendment to the Agreement and shall be governed by the laws of the State of Colorado.

IN WITNESS WHEREOF, this Amendment has been executed by a duly authorized representative of each of the parties hereto as of the date of the Amendment first set forth above.

CALIFORNIA INVESTMENT TRUST		SHELTON GREATER CHINA FUND

By: /s/ Steve Rogers		By: /s/ Steve Rogers
Name: Steve Rogers		Name: Steve Rogers
Title: CEO		Title: CEO

ALPS FUND SERVICES, INC.

By: /s/ Jeremy O. May
Name:
Title:

APPENDIX A – CIT FUND LIST

Dated as of October 10, 2011

CALIFORNIA TAX-FREE INCOME FUND

Investor Class

CALIFORNIA INSURED INTERMEDIATE FUND

Investor Class

CALIFORNIA TAX-FREE MONEY MARKET FUND

Investor Class

S&P 500 INDEX FUND

Investor Class

Class K

S&P MIDCAP INDEX FUND

Investor Class

Class K

S&P SMALLCAP INDEX FUND

Investor Class

Class K

EQUITY INCOME FUND

Investor Class

Class K

Class A

Class B

NASDAQ-100 INDEX FUND

Investor Class

Class K

EUROPEAN GROWTH & INCOME FUND

Investor Class

Class K

U.S. GOVERNMENT SECURITIES FUND

Investor Class

Class K

Class A

Class B

SHORT-TERM U.S. GOVT. BOND FUND

Investor Class

Class K