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</TABLE>
<TABLE> <S> <C>
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<CIK> 0001017927
<NAME> FIRST AMERICAN STRATEGY FUNDS
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<NAME> AGGRESSIVE GROWTH FUND
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<S> <C>
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Independent Auditors' Report on Internal Accounting Control
The Board of Directors and Shareholders
First American Strategy Funds, Inc.
In planning and performing our audits of the financial statements
of Income Fund, Growth and Income Fund, Growth Fund, and
Aggressive Growth Fund (funds within First American Strategy Funds, Inc.)
for the year ended September 30, 1998, we considered their 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 the internal control.
The management of the Company 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 any internal control, errors or
irregularities may occur and not be detected. Also, projection of any
evaluation of the 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 the internal control would not necessarily disclose all
matters in the 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 errors or irregularities 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 the internal control and its operation, including controls
for safeguarding securities, that we consider to be material weaknesses as
defined above.
This report is intended solely for the information and use of management
and the Securities and Exchange Commission.
KPMG Peat Marwick LLP
Minneapolis, Minnesota
November 13, 1998
Change in Registrant's Certifying Accountants
At a meeting held on September 9, 1998, the Board of
Directors of the First American Strategy Funds, Inc.
approved the engagement of Ernst & Young LLP as
its independent auditors for the fiscal year ending
September 30, 1999 to replace the firm of KPMG
Peat Marwick LLP, who were dismissed as independent
auditors of First American Strategy Funds, Inc. effective
November 25, 1998.
The report of KPMG Peat Marwick LLP on each of the
funds within the First American Strategy Funds, Inc.
financial statements as of September 30, 1998 and for
each of the periods indicated did not contain an adverse
opinion or a disclaimer of opinion and was not qualified or
modified as to uncertainty, audit scope, or accounting
principles.
In connection with the audits of each of the funds within
the First American Strategy Funds, Inc. financial statements
as of September 30, 1998 and for each of the periods
indicated there were no disagreements with KPMG Peat
Marwick LLP on any matters of accounting principles or
practices, financial statement disclosure, or auditing scope
and procedures which, if not resolved to the satisfaction of
KPMG Peat Marwick LLP would have caused KPMG Peat
Marwick LLP to make reference to the matter in their report.
A letter from KPMG Peat Marwick LLP is attached.
