Document:

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                                Exhibit (10)(bb)

                                Agency Agreement
                                     between
                                Expert Plan.Com,
                         The One Group Services Company
                                       and
                              One Group Mutual Fund

<PAGE>   2

                                AGENCY AGREEMENT

             This Agreement is made as of the 28th day of June, 2000 between:
(1) Expert Plan.Com ("Company") and (2) One Group Mutual Funds (the "Trust");
The One Group Services Company (collectively, "TOGSC").

                                    RECITALS

A. The Trust is (I) an open-end investment company with one or more series of
classes of shares (each such series or class of share a "Fund"); TOGSC is ether
(II) an investment adviser to or administrator for the Funds, (III) the
principal underwriter or distributor for the Funds, or (IV) the transfer agent
for the Funds.

B. The Trust wishes to have Company provide to the Trust or on its behalf
certain administrative services with respect to qualified employee benefit plans
(the "Plans") which own shares of such Funds.

C. Company agrees to provide such services on the terms and conditions set forth
herein.

                                    AGREEMENT

         THEREFORE, in consideration of the mutual promises set forth herein,
the parties agree as follows:

2.       Shareholder Services

A.       SHAREHOLDER ACCOUNT SET-UP AND MAINTENANCE - Company shall maintain and
         provide adequate facilities and procedures to: (1) establish and
         maintain Fund investments on behalf of Plans on the Company transaction
         processing and recordkeeping system, and (2) access the Plans current
         Fund information including, but not limited to, share balances,
         dividend information and transaction history.

B.       SHAREHOLDER ASSISTANCE - Company shall make available to the Plans any
         information maintained by Company as may be necessary for the Plans to
         support and resolve shareholder servicing inquires. Company personnel
         will assist the Plans in the investigation of shareholder inquiries
         when necessary. Company will support shareholder service inquiries from
         the Plans serviced by Company. Company shall not make any statement or
         representation concerning a Fund that is not contained in the Trust's
         registration statement, annual report or proxy statement or any
         advertising or promotional material generated by or on behalf of any
         Fund.

C.       TRANSACTION PROCESSING, AND SETTLEMENT - The Company transaction
         processing system shall enable the Plans to purchase, redeem and
         exchange shares of Funds available through Company. Company shall
         facilitate settlement with each Fund of Plan transactions in such Fund
         insofar as such transactions are transmitted by Company on behalf of
         the Plans.

<PAGE>   3

         The Trust agrees that it shall either: (1) make arrangements for all
         transactions processed pursuant to this Agreement to be process through
         the National Securities Clearing Corporation Fund./SERV system, or (2)
         obtain proper authority for Company to transmit to the Fund or its
         Agent daily manual trades until 4:00 p.m. Eastern Time, or such other
         times as set forth on Exhibit B, which trades shall remain eligible for
         that day's public offering price provided Company received the order by
         close of trading that day.

D.       SHAREHOLDER ACCOUNT STATEMENT AND DISTRIBUTION - With respect to each
         Plan holding Fund investments through Company, Company shall deliver or
         cause to be delivered to such Plan periodic statements. Statements will
         include transaction detail for the statement period for each Fund in
         which shares were purchased, redeemed or exchanged, and a summary of
         the number of Fund shares owned and share value thereof as of the
         statement date to the extent such value is provided by the Fund.

E.       CONFIRMATION PREPARATION AND DISTRIBUTION - Company shall generate a
         written confirmation for each purchase, redemption and exchange
         transaction affecting each Shareholder's Fund investments held through
         Company to the extend such confirmation is required, and such
         confirmation shall be distributed to Shareholders through or on behalf
         of Company or Correspondents.

F.       PAYMENT OF FUND DISTRIBUTIONS - Company shall distribute to
         Shareholders all dividend, capital gain or other payments authorized by
         the trust and distributed and received by Company, and such
         distributions shall be credited to the Plans in accordance with the
         instructions provided by each Plan, including but not limited to
         dividend reinvestment into a Fund, or cash payments of distributions.

G.       PROSPECTUS FULFILLMENT - Company will provide a prospectus to
         prospective shareholders or their agent upon request, provided the
         Trust or its agent has provided adequate copies thereof to Company or
         its designee.

         The Trust acknowledges and agrees that Company is not responsible for
         (1) the compliance of any prospectus or supplement thereto, annual
         report, proxy statement or item of advertising or marketing material of
         or relating to any Fund, which is prepared by the Trust or its agent,
         with any applicable laws, rules or regulations, (ii) the registration
         or qualification of any shares of any Fund under any federal or
         applicable state laws or (iii) the compliance by any Fund or the Trust
         or any "affiliated person" (as that term is defined in the rules under
         the Investment Company Act of 1940, as amended), with any applicable
         federal or state law, rule or regulation or the rules and regulations
         of any self regulatory organization with jurisdiction over such Fund,
         the Trust or affiliated person.

         Company will not make any offer or sale of Fund shares (a) in any state
         or jurisdiction in which such shares are not qualified for sale or
         exempt from the requirements of the relevant securities laws at any
         time after it has been provided with written notice from the Trust that
         such Fund is not so qualified or exempt in such state or jurisdiction,
         (b) in any state or jurisdiction in which it is not properly licensed
         or authorized to make offers or

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         sales, or (c) at any time after it has been provided with written
         notice from the Trust that such Fund is not then currently offering
         shares to the public.

H.       ACCOUNT LEVEL TAX REPORTING - Company shall provide to Shareholders
         through Company or Correspondent such reports and information as may be
         required by the then-prevailing laws and regulations under the Internal
         Revenue Code.

II.      Representations and Warranties

A.       The Trust and TOGSC each represent and warrant that:

         (1)      it has the requisite authority to enter into this agreement on
                  its own behalf and, in the case of the Trust, on behalf of the
                  Fund(s), and

         (2)      the payment to Company of any fees pursuant hereto:

                  (a) has been duly authorized by the Board of Trustees of the
                  Trust, or any other persons to the extent such authorization
                  is required to properly make such payment;

                  (b) is properly disclosed in the relevant prospectus to the
                  extent such disclosure may be required, and

                  (c) is in conformity with all federal, state and industry laws
                  or regulations to which the Trust or its agents are subject.

B.       Company represents and warrants that:

         (1)      it is a corporation duly organized under the state laws of New
                  Jersey.

         (2)      the execution and delivery of this Agreement and the
                  performance of the services contemplated herein have been duly
                  authorized by all necessary corporation action in its part,
                  and this Agreement constitutes the valid and binding
                  obligations of Company; and

         (3)      it is in material conformity with all federal, state and
                  industry laws or regulations to which it is subject.

C.       Each party hereto represents and warrants that it shall provide to the
         others such information or documentation necessary for such party to
         fulfill its obligations hereunder, such other information or
         documentation - as any party may reasonably request and that it shall
         comply with such operating policies and procedures as the parties may
         adopt from time to time.

D.       Each party is responsible for its compliance with all applicable laws,
         rules and regulations governing its performance under this Agreement,
         except to the extent its

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         failure to comply with any law, rule or regulation is caused by another
         party's breach of this Agreement.

III.     FEES

A.       Asset Based Fee

         For the services provided by Company hereunder, the Trust or TOGSC
         shall pay to Company a fee with respect to each Fund, which fee shall
         be based upon a percentage per annum of the average daily value of the
         aggregate number of shares of the Fund held by Company for the accounts
         of customers of Company and Correspondents. Such fee shall be
         calculated and paid in accordance with Exhibit A hereto.

IV.      Indemnification

         The Trust and TOGSC shall indemnify and hold harmless Company and each
         officer, employee and agent of Company from and against any and all
         claims, demands, actions, losses, damages, liabilities, or costs,
         charges, reasonable counsel fees, and expenses of any nature ("Losses")
         arising out of (1) any inaccuracy or omission in any prospectus or
         supplement thereto, registration statement, annual report or proxy
         statement of any Fund or the Trust or any advertising or promotional
         materials generated by any Fund or the Trust, (ii) any breach by the
         Trust or TOGSC of any representation, warranty, covenant, or agreement
         contained in this Agreement and (iii) any action taken or omitted to be
         taken by Company pursuant to this Agreement, except to the extent such
         Losses result from Company's breach of this Agreement, willful
         misconduct, or negligence.

         Company shall indemnify, defend and hold the Trust and TOGSC (including
         their officers, directors, employees and agents and any person who
         controls either of them) free and harmless from and against any and all
         Losses which such persons may incur under the Securities Act of 1933,
         as amended, or under common law or otherwise, arising out of or based
         upon (1) any breach of any representation, warrant, or covenant made by
         Company herein, (ii) any failure by Company to perform its obligations
         as set forth herein or, (iii) any action taken or omitted by Company to
         the extent that any Losses associated therewith are a result of
         Company's breach of this Agreement, willful misconduct or negligence.

V.       Confidentiality

         Each party acknowledges and understands that any and all technical,
         trade secret, or business information, including, without limitation,
         financial information, business or marketing strategies or plans,
         product development or customer information, which is disclosed to the
         other or is otherwise obtained by the other, its affiliates, agent or
         REPRESENTATIVES during the term of this Agreement (the "Proprietary
         Information" - is CONFIDENTIAL AND PROPRIETARY, CONSTITUTES TRADES
         SECRETS OF THE OWNER, AND is of great value and importance to the
         success of the owner's business. Each party agrees to use its best
         efforts (the same being not less than that employed to protect his own
         proprietary

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         information) to safeguard the Proprietary Information and to prevent
         the unauthorized, negligent or inadvertent use or disclosure thereof
         Neither party shall without the prior written approval of any officer
         of the other, directly or indirectly, disclose the proprietary
         Information to any person or business entity except for a limited
         number of employees, attorneys, accountants and other advisors of the
         other on a need-to-know basis or as may be required by law or
         regulation. Each party shall promptly notify the other in writing of
         any unauthorized, negligent or inadvertent use or disclosure of
         proprietary Information. Each party shall be liable under this
         Agreement to the other for any use or disclosure in violation of this
         Agreement by its employees, attorneys, accountants or other advisors or
         agents. This Section V shall continue in full force and effect
         notwithstanding the termination of this Agreement.

V1.       Duration and Termination of Agreement

          With respect to any Fund, this Agreement shall become effective upon
          the date such Fund is identified on Exhibit B, and this Agreement is
          approved by the Trust's Board of Trustees if such approval is
          required, and shall continue in force for one year, and shall
          thereafter continue automatically for successive annual periods unless
          earlier terminated and subject to any periodic approval required by
          the Trust's Board of Trustees. This Agreement is terminable as to any
          Fund by any party upon 60 days written notice thereof to the other
          parities or upon default hereof provided that such default shall not
          terminate this Agreement to the extent that the defaulting party has
          been notified of such default by the non-defaulting party and the
          defaulting party cures such default within 10 business days of notice
          of such default.

          After the date of termination as to a Fund, no fee will be due with
          respect to any shares of such Fund that are first placed or purchased
          in Company or Correspondent customer accounts after the date of such
          termination. However, notwithstanding any such termination, the Trust
          and TOGSC will remain obligated to pay Company the Asset Based Fee as
          to each share of such Fund that was considered in the calculation of
          such fee as of the date of such termination, for so long as such share
          is held in the Company or Correspondent account. This Agreement, or
          any provision hereof, shall survive termination to the extent
          necessary for each party to perform its obligations with respect to
          shares for which the Asset Based Fee continues to be due subsequent to
          such termination.

          Notwithstanding anything to the contrary contained in this Section VI,
          this Agreement will terminate automatically with respect to TOGSC in
          the event that TOGSC ceases to serve as principal underwriter or
          distributor for the Funds pursuant to a termination of its
          Distribution Agreement with the Fund; or, with respect to the Trust in
          the event that the Fund's plan of distribution, adopted pursuant to
          Rule l2b-1 under the 1940 Act, or any other plan for the financing of
          shareholder servicing activities (the "Plan") which finances such
          payment obligation is terminated for whatever reason by the Trust's
          Board of Directors. In that connection the Trust's and TOGSC's payment
          obligations with respect to fees will cease as of the effective date
          of (I) the termination of TOGSC's Distribution Agreement with the Fund
          or (ii) the termination of the plan, as the case may

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          be. This paragraph does not relieve the Trust or TOGSC of the
          obligation for payment of past fees due under this Agreement. In the
          event such payment obligation shall cease in accordance with clause
          (i) above, Company may seek to receive such payments from any
          successor distributor that is appointed by the Funds. In the event
          such payment obligation shall cease in accordance with clause (ii)
          above, the Trust and Company agree to negotiate in good faith with
          respect to whether and to what extent the Trust will continue to make
          such payments either from a related party's resources or in reliance
          upon financing that is provided by a successor plan.

VIII.     Miscellaneous

A.       CUSTODY - The Trust acknowledges that Fund shares maintained by Company
         for Shareholders hereunder are held in custody for the exclusive
         benefit of customers of Company or its Correspondents and shall be held
         free of any right, charge, security interest, lien or claim against
         Company in favor of the Trust or its agents acting on behalf of the
         Trust.

B.       TRANSACTION CHARGES - During the term of this Agreement, Company shall
         not assess against or collect from its brokerage customers any
         transaction fee upon the purchase or redemption of any Fund's shares
         that are considered in calculating the fee due pursuant to Section III
         hereof.

C.       NONEXCLUSIVELY - The Trust acknowledges that Company may perform
         services similar to those to be provided under this Agreement to other
         investment companies, investment company sponsors, or service providers
         to investment companies.

D.       FORCE MAJEURE - No party or its affiliates shall be liable to any other
         party for any damage, claim or other loss whatsoever caused by
         circumstances or events beyond its reasonable control.

E.       NOTICES - All notices and communications required or permitted by this
         Agreement shall be in writing and delivered personally or sent by first
         class mail unless otherwise agreed. All such notices and other
         communications shall be made:

           If to the Trust and TOGSC, to:

                   The One Group Services Company
                   Attn: Mr. Mark S. Redman
                   3435 Stelzer Road
                   Columbus, OH 43219-8001

           If to Company, to:

                   ------------------------------

                   ------------------------------

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                    ----------------------

                    ----------------------

F.       This Agreement and any Exhibits hereto may be amended only upon the
         written agreement of the parties.

G.       This Agreement may not be transferred or assigned by either the Trust,
         TOGSC or Company and shall be construed in accordance with the laws of
         the State of Ohio.

H.       The names "One Group Mutual Funds" and "Trustees of the One Group"
         refer respectively to the business trust created and the Trustees, as
         trustees and not individually or personally, acting from time to time
         under a Declaration of Trust amended, restated and dated as of February
         11, 1993 to which reference is hereby made and copy of which is on file
         at the office of the Secretary of the Commonwealth of Massachusetts and
         elsewhere as required by law, and to any and all amendments thereto so
         filed or hereafter filed. The obligations of "One Group" entered into
         in the name of on behalf thereof by any of the Trustees,
         representatives or agents are made not individually, but in such
         capacities, and are not binding upon any of the Trustees, shareholders
         or representatives of the Trust personally, but bind only the assets of
         the Trust, and all persons dealing with any Fund must look solely to
         the assets of the Trust belonging to such Fund for the enforcement of
         any claims against the Trust.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first written above.

ONE GROUP MUTUAL FUNDS

By: /s/ James T. Gillespie
   ------------------------------

Name:  James T. Gillespie
      ---------------------------

Title: Vice President
      ---------------------------

THE ONE GROUP SERVICES COMPANY

By:  /s/  Mark S. Redman
    -----------------------------

Name:  Mark S. Redman
      ---------------------------

Title:   President
       --------------------------

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Expert Plan.Com

By:  /s/   Winthrop Cody
   -----------------------------

Name: Winthrop Cody
      --------------------------

Title:   President
       -------------------------

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<PAGE>   10

                                    EXHIBIT A

                                  FEE SCHEDULE

1.       Asset Based Fee

         (a)      For the services provided by Company hereunder, the Trust or
                  TOGSC shall pay to Company a fee with respect to each Fund,
                  calculated daily and paid monthly in arrears, equal to 25
                  percent per annum of the daily market value of the total
                  number of shares of such Fund held in accounts at Company
                  (determined by multiplying the number of such shares times the
                  publicly-reported net asset value of each share), excluding
                  the value of (1) shares held in a brokerage account prior to
                  the effective date of the Agreements to the Fund issuing such
                  shares ("Pre-Participating Assets"), and (ii) shares first
                  placed or purchased in a brokerage account after the
                  termination of the Agreement as to the trust issuing such
                  shares. The total number of shares of all Funds with respect
                  to which a fee will be due to Fidelity hereunder shall be
                  referred to in this Exhibit A as "Participating Assets".

         (b)      Subsequent to each month-end, Company shall send to TOGSC a
                  statement of the market value of shares of the Fund for which
                  the fee is calculated for the preceding month, together with a
                  statement of the amount of such fee.

         (c)      The Trust or TOGSC shall pay to Company such fee within 30
                  days after their receipt of such statement. Such payment shall
                  be by wire transfer or other form acceptable to Company and
                  shall be separate from payments related to redemption proceeds
                  and distributions.

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<TABLE>
<CAPTION>

EXHIBIT B

                                                        FUNDS
---------------------------------------------------------------------------------------------------------------------
FUND NAME                                            CLASS    TYPE                    CUSIP           QUOTRON
<S>                                                  <C>      <C>                 <C>                <C>
---------------------------------------------------------------------------------------------------------------------
One Group Balanced Fund                                A                            681937470          OGASX
---------------------------------------------------------------------------------------------------------------------
One Group Large Cap Growth                             A                            681937249          OLGAX
---------------------------------------------------------------------------------------------------------------------
One Group Large Cap Value                              A                            681937876          OLVAX
---------------------------------------------------------------------------------------------------------------------
One Group Mid Cap Growth                               A                            681937728          OSGIX
---------------------------------------------------------------------------------------------------------------------
One Group International Equity Index                   A                            681937561          OEIAX
---------------------------------------------------------------------------------------------------------------------
One Group Mid Cap Value                                A                            681937751          OGDIX
---------------------------------------------------------------------------------------------------------------------
One Group Equity Index                                 A                            681937827          OGEAX
---------------------------------------------------------------------------------------------------------------------
One Group Equity Income                                A                            681937785          OIEIX
---------------------------------------------------------------------------------------------------------------------
One Group Diversified Equity                           A                            681939815          PAVGX
---------------------------------------------------------------------------------------------------------------------
One Group Small Cap Growth                             A                            681939849          PGSGX
---------------------------------------------------------------------------------------------------------------------
One Group Small Cap Value                              A                            68231N305          PSOAX
---------------------------------------------------------------------------------------------------------------------
One Group Diversified Mid Cap                          A                            68231N701          PECAX
---------------------------------------------------------------------------------------------------------------------
One Group Diversified International                    A                            68231N867          PGIEX
---------------------------------------------------------------------------------------------------------------------
One Group Market Expansion Index                       A                            68231N826           NIA
---------------------------------------------------------------------------------------------------------------------
One Group Investor Growth                              A                            681939674          ONGAX
---------------------------------------------------------------------------------------------------------------------
One Group Investor Growth & Income                     A                            681939617          ONGIX
---------------------------------------------------------------------------------------------------------------------
One Group Investor Conservative Growth                 A                            681939641          OICAX
---------------------------------------------------------------------------------------------------------------------
One Group Investor Balanced                            A                            681939575          OGIAX
---------------------------------------------------------------------------------------------------------------------
One Group Intermediate Bond                            A                            681937264          OGBAX
---------------------------------------------------------------------------------------------------------------------
One Group Government Bond                              A                            681937330          OGGAX
---------------------------------------------------------------------------------------------------------------------
One Group Short-Term Bond                              A                            681937629          OGLVX
---------------------------------------------------------------------------------------------------------------------
One Group Income Bond                                  A                            681937652          ONIAX
---------------------------------------------------------------------------------------------------------------------
One Group Ultra Short-Term Bond                        A                            681937314          ONUAX
---------------------------------------------------------------------------------------------------------------------
One Group High Yield Bond                              A                            68231N107          OHYAX
---------------------------------------------------------------------------------------------------------------------
One Group Treasury & Agency                            A                            681939526          OTABX
---------------------------------------------------------------------------------------------------------------------
One Group Bond Fund                                    A                            68231N776          PGBOX
---------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      10<PAGE>   1

                                Exhibit (10)(cc)
                               Multiple Class Plan
                                       for
                             One Group Mutual Funds

<PAGE>   2

                 MULTIPLE CLASS PLAN FOR ONE GROUP MUTUAL FUNDS

                          (AS AMENDED AUGUST 17, 2000)

         One Group Mutual Funds (the "Trust") is an open-end investment company
that offers units of beneficial interest ("shares") in fifty-five separate
series (each a "Fund" and collectively, "the Funds") and six different share
classes of certain of the funds. The six classes are Class A, Class B, Class C,
Class I, Class S and Service Class. The classes provide for variations in
distribution costs, voting rights, dividends, and per share net asset value. The
differences among the classes are discussed below. Attached as Exhibit A, which
may be amended from time to time, is a list of the Funds and the class of shares
available in each Fund.

A.       DISTRIBUTION AND SHAREHOLDER SERVICES

         Class A, Class B and Class C shares are distributed to the general
public.

         Class I and Class S shares are offered to institutional investors,
including affiliates of Bank One Corporation and any bank, depository
institution, insurance company, pension plan or other organization authorized to
act in a fiduciary, advisory, agency, custodial or similar capacity (each an
"Authorized Financial Organization"). Class I and Class S shares also may be
purchased by intermediaries on behalf of participants in certain retirement
plans such as 401(k) and similar plans, other than Individual Retirement
Accounts.

         Service Class shares are offered to broker-dealers, other financial
intermediaries, banks and other depository institutions. Service Class shares
offer administrative and accounting services (e.g., sweep processing).

B.       SALES CHARGE

CLASS A SHARES

         Class A shares, other than those offered in a money market Fund of the
Trust, are distributed subject to a front-end sales charge. The front-end sales
charge is based on a percentage of the offering price and may vary based on the
amount of purchase. Proceeds from the front-end sales charge are used to finance
sales commissions resulting from the sale of Class A shares. An initial purchase
of Class A shares in an amount in excess of $1 million is not subject to a
front-end sales charge. However, the shareholder will be charged the equivalent
of 1% of the purchase price if the shares are redeemed prior to the first
anniversary of purchase, and 0.50% of the purchase price if the shares are
redeemed prior to the second anniversary of purchase, unless the Trust's
distributor receives notice before the shareholder invests that the
shareholder's intermediary is waiving its commission ("Class A CDSC").

         In addition, shares purchased during a Fund's subscription or special
offering period and redeemed within a period specified by the Fund may be
subject to a Class A CDSC on the lesser of the purchase price or the current
value of the redeemed shares.

<PAGE>   3

CLASS B SHARES

         Class B shares are distributed subject to a contingent deferred sales
charge ("CDSC"). The CDSC and a portion of the Class B 12b-1 fees (see below)
are used to finance sales commissions resulting from the sale of Class B shares.
If the shareholder redeems Class B shares prior to the fourth anniversary of
purchase for short-term funds and the sixth anniversary of purchase for all
other funds, the shareholder will pay a CDSC. The CDSC is assessed on an amount
equal to the lesser of the then current market value or the original cost of the
shares being redeemed. Accordingly, no sales charge is imposed on increases in
net asset value above the initial purchase price. In addition, no sales charge
is assessed on shares derived from reinvestment of dividends or capital gain
distributions.

         The amount of the CDSC, if any, varies depending on the number of years
from the time of payment for the purchase of Class B shares until the time of
redemption of such shares. Solely for purposes of determining the number of
years from the time of any payment for the purchase of shares, all payments
during a month are aggregated and deemed to have been made on the first day of
the month.

         In determining whether a particular redemption is subject to a CDSC, it
is assumed that the redemption is first of any Class A shares in the
shareholder's Fund account (unless the shareholder elects to have Class B shares
redeemed first) or shares representing capital appreciation, next of shares
acquired pursuant to reinvestment of dividends and capital gain distributions,
and finally of other shares held by the shareholder for the longest period of
time. This method should result in the lowest possible sales charge.

CLASS C SHARES

         Class C shares are distributed subject to a CDSC. The CDSC and a
portion of the Class C 12b-1 fees (see below) are used to finance sales
commissions resulting from the sale of Class C shares. If the shareholder
redeems Class C shares prior to the first anniversary of purchase, the
shareholder will pay a CDSC. The CDSC is assessed on an amount equal to the
lesser of the then current market value or the original cost of the shares being
redeemed. Accordingly, no sales charge is imposed on increases in net asset
value above the initial purchase price. In addition, no sales charge is assessed
on shares derived from reinvestment of dividends or capital gain distributions.

         Solely for purposes of determining the number of years from the time of
any payment for the purchase of shares, all payments during a month are
aggregated and deemed to have been made on the first day of the month.

         In determining whether a particular redemption is subject to a CDSC, it
is assumed that the redemption is first of any Class A shares in the
shareholder's Fund account (unless the shareholder elects to have Class C shares
redeemed first) or shares representing capital appreciation, next of shares
acquired pursuant to reinvestment of dividends and capital gain distributions,
and finally of other shares held by the shareholder for the longest period of
time. This method should result in the lowest possible sales charge.

                                      2
<PAGE>   4

CLASS I, CLASS S AND SERVICE CLASS SHARES

         Class I, Class S and Service Class shares are not subject to a sales
charge at the time of purchase or redemption.

SALES CHARGE WAIVERS

         Sales charges may be waived as permitted by Rule 22d-1 under the 1940
Act. Shareholders relying upon any of the sales charge waivers must qualify for
such waiver in advance of the purchase with the distributor or intermediary
through which shares are purchased.

C.       12b-1 FEES

         Each One Group Fund (other than the institutional money market funds)
has adopted plans ("Plans") under Rule 12b-1 under the 1940 Act. The Plans allow
the Funds to pay distribution and shareholder servicing fees ("12b-1 fees") for
the servicing, sale and distribution of shares of the Funds. The 12b-1 fees
compensate the distributor for its sales activities. The distributor in turn may
use all or part of the 12b-1 fees to pay commissions to intermediaries who sell
Fund shares. All or part of the fee payable under the Plans also may be used as
compensation for shareholder services by the distributor and/or intermediaries.
The distributor may apply 12b-1 fees toward: (i) compensation for its services
in connection with distribution assistance or provision of shareholder services;
or (ii) payments to financial institutions and intermediaries such as banks
(including affiliates of the Adviser), savings and loan associations, insurance
companies, investment counselors, broker-dealers, and the distributor's
affiliates and subsidiaries, as compensation for services or reimbursement of
expenses incurred in connection with distribution assistance or provision of
shareholder services.

  Below is a summary of the fees under Plans adopted by the Funds:

Share Class                         Plan Provisions
-----------                         ---------------
Class A                             Class A shares pay a 12b-1 fee of
                                    .35% of the average daily net assets of
                                    the Fund.

Class                               B Class B pay a 12b-1 fee of 1.00% of the
                                    average daily net assets of the Fund.

Class                               C Class B pay a 12b-1 fee of 1.00% of the
                                    average daily net assets of the Fund.

Service                             Class Service Class shares pay a 12b-1 fee
                                    of .75% of the average daily net assets of
                                    the Fund.

The Funds may voluntarily reduce the level of 12b-1 and non-12b-1 shareholder
services fees under the Plans. There are no 12b-1 fees for Class I or Class S
shares. However, Class S shares are subject to a non-12b-1 shareholder services
fee based on a percentage of a Fund's average daily net assets.

                                      3
<PAGE>   5

D.       EXCHANGE PRIVILEGES

Class A and Class I Shares
--------------------------

         Class I shareholders of a Fund may exchange their Class I shares for
Class A shares of the same Fund or for Class A shares or Class I shares of
another Fund of the Trust.

         Class A shareholders of a Fund may exchange their Class A shares for
Class I or Class S shares of the same Fund or for Class I, Class S or Class A
shares of another Fund of the Trust if the shareholder is eligible to purchase
such shares.

         Class B shareholders may exchange their Class B shares of a Fund for
Class B shares of another Fund of the Trust.

         Class C shareholders may exchange their Class C shares of a Fund for
Class C shares of another Fund of the Trust.

         Class S shareholders of a Fund may exchange their shares for Class I
shares of the same Fund or for Class A, Class I or Class S shares of another
Fund of the Trust if the shareholder is eligible to purchase such shares.

         Service Class shares do not have exchange privileges.

         The exchange privilege may be exercised only in those states where the
shares of the exchanged and acquired Funds of the Trust may be legally sold. All
exchanges discussed herein are made at the net asset value of the exchanged
shares, except as provided below. The Trust does not impose a charge for
processing exchanges of shares. However, a sales charge may be payable in the
following circumstances:

a)   Shareholders owning Class I and Class S shares of a Fund will pay a sales
     charge if they exchange their Class I shares for Class A shares and they do
     not qualify for a sales charge waiver.

b)   Shareholders owning Class A shares of a Fund will pay a sales charge if
     they exchange their Class A shares for Class A shares of another Fund and
     (1) the Fund from which they are exchanging did not charges a sales charge,
     but the Fund into which they are exchanging does, or (2) the Fund from
     which they are exchanging charged a lower sales charge than the Fund into
     which they are exchanging. In (1) above, shareholders would pay the sales
     charge applicable to the Fund into which they are exchanging. In (2) above,
     shareholders would pay the difference between the sales charge charged by
     the Fund into which they are exchanging and the sales charge already paid
     on the exchanged Fund.

c)   Shareholders owning Class B and Class C shares of a Fund will not pay a
     sales charge at the time of the exchange, however:

                                      4
<PAGE>   6

             1.       The new Class B and Class C shares of will be subject to
                      the higher CDSC of either the Fund from which the
                      shareholder exchanged, the Fund into which the shareholder
                      exchanged, or any Fund from which the shareholder
                      previously exchanged.

             2.       The current holding period of the shareholder's exchanged
                      Class B or Class C shares is carried over to the new
                      shares.

Additional Information Regarding Exchanges
------------------------------------------

         The Trust may change the terms or conditions of the exchange privilege
discussed herein through amendment to this Multiple Class Plan and upon sixty
days' written notice to shareholders.

E.       CONVERSION RIGHTS

         Class B shares will automatically convert to Class A shares six or
eight years (depending on the Fund) after the end of the calendar month in which
the shares were purchased and will be subject to the lower distribution and fees
charged to Class A shares. Such conversion will be on the basis of the relative
net asset values of the two classes, without the imposition of any sales charge,
fee or other charge.

         For purposes of conversion to Class A shares, shares received as
dividends and other distributions paid on Class B shares in a shareholder's Fund
account will be considered to be held in a separate sub-account. Each time any
Class B shares in a shareholder's Fund account (other than those in the
sub-account) convert to Class A shares, a pro-rata portion of the Class B shares
in the sub-account will also convert to Class A shares.

         If a shareholder effects one or more exchanges among Class B shares of
the Funds of the Trust during the relevant six- or eight-year period, the Trust
will aggregate the holding periods for the shares of each Fund of the Trust for
purposes of calculating the relevant period. Because the per share net asset
value of the Class A shares may be higher than that of the Class B shares at the
time of conversion, a shareholder may receive fewer Class A shares than the
number of Class B shares converted, although the dollar value will be the same.

         Class C shares issued through November 1, 1997 ("Grandfathered Shares")
will automatically convert to Class A shares six years after the end of the
month in which the shares were purchased under the terms above described with
respect to Class B shares (including the treatment of shares received as
dividends or as other distributions.) All other Class C shares will shall not
convert to Class A shares.

F.       VOTING RIGHTS

         Each share held entitles the shareholder of record to one vote. Each
Fund of the Trust will vote separately on matters relating solely to that Fund.
In addition, each class of a Fund shall have exclusive voting rights on any
matter submitted to shareholders that relates solely to that class, and shall
have separate voting rights on any matter submitted to shareholders in which the

                                      5
<PAGE>   7

interests of one class, including such Class' 12b-1 Plan, differ from the
interests of any other class. However, all Fund shareholders will have equal
voting rights on matters that affect all Fund shareholders equally.

 G.      EXPENSE ALLOCATION

         Each class shall pay the expenses associated with its different
distribution and shareholder services arrangement. Each class may, at the
Board's discretion, also pay a different share of other expenses, not including
advisory or custodial fees or other expenses related to the management of the
Trust's assets, if these expenses are actually incurred in a different amount by
that class, or if the class receives services of a different kind or to a
different degree than other classes. All other expenses will be allocated to
each class on the basis of the net asset value of that class in relation to the
net asset value of the Fund. However, money market funds operating in reliance
on Rule 2a-7, and other Funds making daily distributions of their net investment
income, may allocate such other expenses to each share regardless of class, or
based on the relative net assets.

         Expenses may be waived or reimbursed by a Fund's advisor, underwriter
or any other service provider to the Fund.

H.       REDEMPTIONS

         Shareholders may redeem their shares without charge (except Class B and
Class C shares, and certain Class A shares as provided above) on any Business
Day. All redemption orders are effected at the net asset value per share next
determined as reduced by any applicable CDSC.

I.       DIVIDENDS

         Shareholders automatically receive all income dividends and capital
gain distributions in additional Class A, Class B, Class C, Service Class, Class
I and Class S shares, as applicable, at the net asset value next determined
following the record date, unless the shareholder has elected to take such
payment in cash.

         Class B shares received as dividends and capital gains distributions at
the net asset value next determined following the record date shall be held in a
separate Class B sub-account.

         In the absence of waivers, the amount of dividends payable on Class I
and Class S shares will be more than the dividends payable on Class A, Class B,
Class C, and Service Class shares because of the distribution expenses charged
to Class A, Class B, Class C, and Service Class shares.

                                      6
<PAGE>   8
EXHIBIT A

<TABLE>
<CAPTION>
                                                                                         SERVICE
          FUND                                CLASS A           CLASS B      CLASS C      CLASS      CLASS S       CLASS I
          ----                                -------           -------      -------      -----      -------       -------
<S>                                          <C>                <C>          <C>         <C>        <C>           <C>
1.   Small Cap Growth                            X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
2.   Small Cap Value                             X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
3.   Mid Cap Growth                              X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
4.   Mid Cap Value                               X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
5.   Diversified Mid Cap                         X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
6.   Large Cap Growth                            X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
7.   Large Cap Value                             X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
8.   Equity Income                               X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
9.   Diversified Equity                          X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
10.  Balanced                                    X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
11.  Equity Index                                X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
12.  Market Expansion Index                      X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
13.  International Equity Index                  X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
14.  Diversified International                   X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
15.  Real Estate                                 X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
16.  Ultra Short-Term Bond                       X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
17.  Short-Term Bond                             X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
18.  Intermediate Bond                           X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
19.  Bond                                        X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
20.  Income Bond                                 X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
21.  Government Bond                             X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
22.  Treasury & Agency                           X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
23.  High Yield Bond                             X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
24.  Short-Term Municipal Bond                   X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
25.  Intermediate Tax- Free Bond                 X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
26.  Tax-Free Bond                               X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
27.  Municipal Income                            X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
28.  Arizona Municipal Bond                      X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
29.  Kentucky Municipal Bond                     X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
30.  Louisiana Municipal Bond                    X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
31.  Michigan Municipal Bond                     X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
32.  Ohio Municipal Bond                         X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
33.  West Virginia Municipal Bond                X                 X                                                 X
----------------------------------------------------------------------------------------------------------------------
34.  Investor Growth                             X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
35.  Investor Growth & Income                    X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
36.  Investor Balanced                           X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
37.  Investor Conservative Growth                X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
38.  Cash Management Money Market                X                                                                   X
----------------------------------------------------------------------------------------------------------------------
39.  Treasury Cash Management Money Market       X                                                                   X
----------------------------------------------------------------------------------------------------------------------
40.  Treasury Prime Cash Management Money Market X                                                                   X
----------------------------------------------------------------------------------------------------------------------
41.  U.S. Government Securities Cash
     Management Money Market                     X                                                                   X
----------------------------------------------------------------------------------------------------------------------
42.  Municipal Cash Management Money Market      X                                                                   X
----------------------------------------------------------------------------------------------------------------------
43.  Prime Money Market                          X                 X            X            X                       X
----------------------------------------------------------------------------------------------------------------------
44.  U.S. Treasury Securities Money Market       X                 X            X            X                       X
----------------------------------------------------------------------------------------------------------------------
45.  Municipal Money Market                      X                              X            X                       X
----------------------------------------------------------------------------------------------------------------------
46.  Michigan Municipal Money Market             X                              X                        X           X
----------------------------------------------------------------------------------------------------------------------
47.  Ohio Municipal Money Market                 X                              X                        X           X
----------------------------------------------------------------------------------------------------------------------
48.  Treasury Prime Money Market                 X                              X            X                       X
----------------------------------------------------------------------------------------------------------------------
49.  U.S. Government Securities Money Market     X                              X            X                       X
----------------------------------------------------------------------------------------------------------------------
50.  Institutional Prime Money Market                                                                    X           X
----------------------------------------------------------------------------------------------------------------------
51.  Treasury Only Money Market                                                                          X           X
----------------------------------------------------------------------------------------------------------------------
52.  Government Money Market                                                                             X           X
----------------------------------------------------------------------------------------------------------------------
53.  Tax-Exempt Money Market                                                                             X           X
----------------------------------------------------------------------------------------------------------------------
54.  Technology                                  X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
55.  Mortgage -Backed Securities                 X                 X            X                                    X
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      7

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