EX-99 2 exh.txt Amendment to the Investment Advisory Agreement Dated November 1, 2001 (adopted March 9, 2005) As of February 10, 2005, the Investment Advisory Agreement dated November 1, 2001 between Columbia Wanger Asset Management, L.P. and Wanger Advisors Trust (the "Trust") is hereby amended to reduce the rates at which fees are payable thereunder with respect to each series of the Trust to the rates indicated on Schedule A hereto. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of March 9, 2005. WANGER ADVISORS TRUST On behalf of each series listed on Schedule A hereto By: ----------------------------------------- Title: -------------------------------------- COLUMBIA WANGER ASSET MANAGEMENT, L.P. By: WAM Acquisition GP, Inc., Its General Partner By: ---------------------------------------- Title: --------------------------------------
Schedule A ----------------------------------------------- ------------------------ ------------------------------------------- Name of Fund Annual Fee Net Assets Rate ----------------------------------------------- ------------------------ ------------------------------------------- ----------------------------------------------- ------------------------ ------------------------------------------- Wanger U.S. Smaller Companies 0.990% Up to $100 million 0.940% $100 million to $250 million 0.890% $250 million and over ----------------------------------------------- ------------------------ ------------------------------------------- ----------------------------------------------- ------------------------ ------------------------------------------- Wanger International Small Cap 1.150% Up to $100 million 1.000% $100 million to $250 million 0.950% $250 million and over ----------------------------------------------- ------------------------ ------------------------------------------- ----------------------------------------------- ------------------------ ------------------------------------------- Wanger Select 0.850% N/A ----------------------------------------------- ------------------------ ------------------------------------------- ----------------------------------------------- ------------------------ ------------------------------------------- Wanger International Select 0.990% N/A ----------------------------------------------- ------------------------ -------------------------------------------