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001 A000000 AMERINDO FUNDS, INC.
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<PAGE> PAGE 2
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SIGNATURE DANA SMITH
TITLE VP & TREASURER
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL
To the Shareholders and Board of Directors
Amerindo Funds Inc.
In planning and performing our audit of the financial
statements of the Amerindo Technology Fund (the sole
fund constituting Amerindo Funds Inc.; collectively
known as the "Fund"), for the ten months ended
October 31, 1999, we considered its internal control,
including control activities for safeguarding
securities, in order to determine our auditing
procedures for the purpose of expressing our opinion
on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance
on internal control.
The Fund's management is responsible for establishing
and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management
are required to assess the expected benefits and
related costs of controls. Generally, controls that
are relevant to an audit pertain to the entity's
objective of preparing financial statements for
external purposes that are fairly presented in
conformity with generally accepted accounting
principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control,
error or fraud may occur and not be detected. Also,
projection of any evaluation of internal control to
future periods is subject to the risk that it may
become inadequate because of changes in conditions or
that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal control
that might be material weaknesses under standards
established by the American Institute of Certified
Public Accountants. A material weakness is a
condition in which the design or operation of one or
more of the internal control components does not
reduce to a relatively low level the risk that
misstatements caused by error or fraud in amounts
that would be material in relation to the financial
statements being audited may occur and not be
detected within a timely period by employees in the
normal course of performing their assigned functions.
However, we noted no matters involving internal
control and its operation, including controls for
safeguarding securities, that we consider to be
material weaknesses as defined above as of October
31, 1999.
This report is intended solely for the information
and use of management, the Board of Directors of
Amerindo Funds Inc., and the Securities and Exchange
Commission.
/s/ MORRISON, BROWN, ARGIZ & COMPANY
Certified Public Accountants
Miami, Florida
November 17, 1999
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