Exhibit (h)(4)

                                  AMENDMENT TO
                            ADMINISTRATION AGREEMENT

This is an amendment dated November 2, 2001 to the Administration Agreement
("Agreement") between Pilgrim Natural Resources Trust ("Trust") and ING Pilgrim
Group, LLC, which was made the 26th day of July, 2000.

WHEREAS, The Board of Trustees has determined that it is in the best interest of
the Trust to synchronize the annual renewal of this Agreement with the renewal
of the Trust's investment management agreement, which also requires annual
renewal by the Trust's Board of Trustees, to facilitate the Trust's compliance
schedule and administration.

THEREFORE, the parties agree that this Agreement, as amended, shall be dated
September 1, 2001.


IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their officers designated below as of the day and year set forth
above.


                                               PILGRIM NATURAL RESOURCES TRUST


                                               By: /s/  Robert S. Naka
                                                  --------------------------
                                                       Robert S. Naka
                                                       Senior Vice President


                                               ING PILGRIM GROUP, LLC


                                               By: /s/ Michael J. Roland
                                                  --------------------------
                                                       Michael J. Roland
                                                       Senior Vice President