SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-18f-1
NOTIFICATION OF ELECTION
PURSUANT TO RULE 18f-1
UNDER THE INVESTMENT COMPANY ACT OF 1940
DRIEHAUS MUTUAL FUNDS
The undersigned registered open-end investment company hereby
notifies the Securities and Exchange Commission that it elects to commit
itself to pay in cash all redemptions by a shareholder of record as
provided by Rule 18f-1 under the Investment Company Act of 1940. It is
understood that this election is irrevocable while such Rule is in effect
unless the Commission by order upon application permits the withdrawal of
this Notification of Election.
Pursuant to the requirements of Rule 18f-1 under the Investment
Company Act of 1940, the registrant has caused this notification of
election to be duly executed on its behalf in the City of Chicago and the
State of Illinois on the 29th day of April 1997.
Driehaus Mutual Funds
By:/s/ MARY H. WEISS
------------------------------------
Mary H. Weiss
Secretary
