ICI MUTUAL INSURANCE COMPANY

INVESTMENT COMPANY BLANKET BOND
RIDER NO. 16

	  ____________________________________________________________________________________

           INSURED                                                           BOND NUMBER

           Waddell & Reed Advisors Funds, Inc.                               87015107B

           EFFECTIVE DATE                   BOND PERIOD         AUTHORIZED REPRESENTATIVE

           November 30, 2008    December 31, 2007 to March 30, 2009      /S/ Matthew Link

           In consideration of the premium charged for this Bond, it is hereby understood and agreed that
           the expiration date of the Bond Period set forth in Item 2 of the Declarations is hereby
           amended to be

              12:01 a.m. on March 30, 2009

           Standard Time at the Principal Address as set forth in Item 1 of the Declarations.

           Except as above stated, nothing herein shall be held to alter, waive or extend any of the
           terms of this Bond.