FIRST AMENDMENT TO

                          INVESTMENT ADVISORY AGREEMENT

                                       FOR

                             THE OAKMARK SELECT FUND

        HARRIS ASSOCIATES INVESTMENT TRUST, a Massachusetts business trust
registered under the Investment Company Act of 1940 (the "1940 Act") as an
open-end diversified management investment company (the "Trust"), and HARRIS
ASSOCIATES L.P., a Delaware limited partnership registered under the Investment
Advisers Act of 1940 as an investment adviser (the "Adviser"), agree that the
investment advisory agreement between the parties for THE OAKMARK SELECT FUND
(the "Fund") dated October 30, 2000 is amended by adding the following paragraph
immediately following paragraph 14:

                 15. PRIVACY OF NONPUBLIC PERSONAL INFORMATION. The Adviser
        shall not disclose or use "nonpublic personal information" (as defined
        in Rule 3(t) of Regulation S-P, adopted by the Securities and Exchange
        Commission) to non-affiliated entities except as necessary to carry out
        the purposes for which the Trust disclosed such information to the
        Adviser, including information that is used in accordance with Rules 14
        and 15 of Regulation S-P in the ordinary course of business to carry
        out those purposes.

Dated:  April 18, 2001



                                       HARRIS ASSOCIATES INVESTMENT TRUST

                                       By: /s/ Janet L. Reali
                                          --------------------------------------



                                       HARRIS ASSOCIATES L.P.
                                         by Harris Associates, Inc.
                                           its General Partner

                                       By: /s/ Robert M. Levy
                                          --------------------------------------