AMENDMENT TO ADMINISTRATIVE SERVICES AGREEMENT


      This is an Amendment to the  Administrative  Services  Agreement  made and
entered  into  between  INVESCO  Funds  Group,  Inc.,  a  Delaware   corporation
("INVESCO"), and INVESCO Income Funds, Inc., a Maryland corporation (the "Fund")
as of the 28th day of February, 1997 (the "Agreement").

      WHEREAS,  effective as of October 29, 1998,  the Fund has changed its name
to "INVESCO Bond Funds, Inc."; and

      WHEREAS,  the  Fund is  engaged  in  business  as an  open-end  management
investment  company,  is registered as such under the Investment  Company Act of
1940, as amended (the "Act"),  and is  authorized  to issue shares  representing
interests in separate portfolios of investments (the "Portfolios"); and

      WHEREAS, the Fund and INVESCO are affiliated companies; and

      WHEREAS,  the Fund  desires to amend the amount of payment that it pays to
INVESCO for certain administrative, sub-accounting and recordkeeping services as
described in the Agreement;

      NOW, THEREFORE, the name of the Fund is "INVESCO Bond Funds, Inc."; and

      The Fund is  authorized  to issue  shares  representing  interests  in the
following separate  Portfolios:  (1) INVESCO High Yield Fund, (2) INVESCO Select
Income Fund, (3) INVESCO  Short-Term Bond Fund, and (4) INVESCO U.S.  Government
Securities Fund; and

      In  consideration  of the premises and mutual  covenants  contained in the
Agreement,  it is agreed that  paragraph 5 of the Agreement is hereby amended to
read as follows:

            For  the  services  rendered,  facilities  furnished,  and  expenses
      assumed by INVESCO under this  Agreement,  the Fund shall pay to INVESCO a
      $10,000 per year per Portfolio base fee, plus an additional fee,  computed
      on a daily basis and paid on a monthly  basis.  For purposes of each daily
      calculation of this additional fee, the most recently determined net asset
      value of each  Portfolio,  as determined by a valuation made in accordance
      with the Fund's procedure for calculating each Portfolio's net asset value
      as described in the Portfolios'  Prospectus and/or Statement of Additional
      Information,  shall be used.  The  additional  fee to  INVESCO  under this
      Agreement  shall  be  computed  at the  annual  rate  of  0.045%  of  each
      Portfolio's daily net assets as so determined.  During any period when the
      determination  of a  Portfolio's  net  asset  value  is  suspended  by the
      directors of the Fund, the net asset value of a share of that Portfolio as
      of the last business day prior to such suspension  shall,  for the purpose
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      of this  Paragraph  5, be deemed to be the net asset value at the close of
      each succeeding business day until it is again determined.

   IN WITNESS WHEREOF,  the parties have executed this Agreement effective as of
the 13th day of May, 1999.

                                     INVESCO FUNDS GROUP, INC.


                                     By:   /s/ Mark H. Williamson
                                           ----------------------
                                           Mark H. Williamson
                                           President
ATTEST:

/s/ Glen A. Payne
-----------------
Glen A. Payne
Secretary
                                     INVESCO INCOME FUNDS, INC.


                                     By:   /s/ Ronald L. Grooms
                                           -------------------------------
                                           Ronald L. Grooms
                                           Treasurer & Chief Financial Officer &
                                           Accounting Officer
ATTEST:

/s/ Glen A. Payne
-----------------
Glen A. Payne
Secretary