May 17, 2006

State Street Bank and Trust Company

Attn: Joseph L. Hooley, Executive Vice President

66 Brooks Drive

Braintree, Massachusetts 02184

Ladies and Gentlemen:

This is to advise you that Artisan Funds, Inc. has established a new series of shares to be known as Artisan Emerging Markets Fund. The series has two classes, an Investor Shares class and an Institutional Shares class. In accordance with the Additional Funds provision in Article 16 of the Transfer Agency and Service Agreement dated May 1, 2001, as amended October 1, 2003, between Artisan Funds, Inc. and State Street Bank and Trust Company, Artisan Funds, Inc. hereby requests that you act as Transfer Agent for the each class of the new series under the terms of the Transfer Agency and Service Agreement. Attached hereto is a revised Schedule A listing each of the series and classes of Artisan Funds, Inc. for which State Street Bank and Trust Company will act as Transfer Agent pursuant to the Agreement.

Please indicate your acceptance of this appointment as Transfer Agent by executing two copies of this Letter Agreement, returning one copy to us and retaining one copy for your records.

ARTISAN FUNDS, INC.
By:	/s/ Lawrence A. Totsky
	Lawrence A. Totsky Chief Financial Officer

Agreed to this 22^nd day of May, 2006

STATE STREET BANK AND TRUST COMPANY
By:	/s/ Joseph L. Hooley
	Name:	Joseph L. Hooley
	Title:	Executive Vice President

SCHEDULE A

Dated: May 17, 2006

Artisan Small Cap Fund – Investor Shares

Artisan International Fund – Investor Shares

Artisan International Fund – Institutional Shares

Artisan Mid Cap Fund – Investor Shares

Artisan Small Cap Value Fund – Investor Shares

Artisan Mid Cap Fund – Institutional Shares

Artisan Mid Cap Value Fund – Investor Shares

Artisan International Small Cap Fund – Investor Shares

Artisan International Value Fund – Investor Shares

Artisan Opportunistic Value Fund – Investor Shares

Artisan Emerging Markets Fund – Investor Shares

Artisan Emerging Markets Fund – Institutional Shares