<PAGE> PAGE 1
000 B000000 12/31/98
000 C000000 0001023132
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010 A00AA01 PFPC INC.
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011 B00AA01 8-46564
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<PAGE> PAGE 2
012 B00AA01 85-825
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020 B000001 13-3443395
020 C000001 58
020 A000002 JOHNSON RICE & CO.
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<PAGE> PAGE 3
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022 B000003 41-0953246
022 C000003 875
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<PAGE> PAGE 4
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SIGNATURE MARY JANE MALONEY
TITLE ASSISTANT SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001023132
<NAME> KALMAR POOLED INVESTMENT TRUST
<SERIES>
<NUMBER> 01
<NAME> KALMAR "GROWTH-WITH-VALUE" SMALL CAP FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 208571354
<INVESTMENTS-AT-VALUE> 237766258
<RECEIVABLES> 149164
<ASSETS-OTHER> 24142
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 237939564
<PAYABLE-FOR-SECURITIES> 124437
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 275490
<TOTAL-LIABILITIES> 399927
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 210095694
<SHARES-COMMON-STOCK> 18775006
<SHARES-COMMON-PRIOR> 16553638
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1750961)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 29194904
<NET-ASSETS> 237539637
<DIVIDEND-INCOME> 1057229
<INTEREST-INCOME> 652798
<OTHER-INCOME> 0
<EXPENSES-NET> (2963260)
<NET-INVESTMENT-INCOME> (1253233)
<REALIZED-GAINS-CURRENT> (8108156)
<APPREC-INCREASE-CURRENT> (13132422)
<NET-CHANGE-FROM-OPS> (22493811)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4774309
<NUMBER-OF-SHARES-REDEEMED> (2552941)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 10833180
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (157929)
<GROSS-ADVISORY-FEES> 2394274
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2963260
<AVERAGE-NET-ASSETS> 239427434
<PER-SHARE-NAV-BEGIN> 13.70
<PER-SHARE-NII> (.07)
<PER-SHARE-GAIN-APPREC> (.98)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.65
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
EXHIBIT INDEX
Exhibit A: Attachment to item 77B:
Accountant's report on internal control.
- --------------------------------------------------------------
Exhibit A:
REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and Board of Trustees of
Kalmar Pooled Investment Trust:
In planning and performing our audit of the financial
statements and financial highlights of Kalmar Pooled
Investment Trust consisting of the "Growth-With-Value"
Small Cap Fund ("the Fund") for the year ended December 31,
1998, we considered its internal control structure,
including procedures for safeguarding securities, in order
to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and
financial highlights and to comply with the requirements of
Form N-SAR, not to provide assurance on the internal control
structure.
The management of the Fund is responsible for establishing
and maintaining an internal control structure. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of internal control structure policies and
procedures. Two of the objectives of an internal control
structure are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions
are executed in accordance with management's authorization
and recorded properly to permit preparation of financial
statements in conformity with generally accepted accounting
principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur and not be
detected. Also, projection of any evaluation of the
structure 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 structure would
not necessarily disclose all matters in the internal control
structure 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 the specific internal control
structure elements do 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 and
financial highlights 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 structure,
including procedures for safeguarding securities, that we
consider to be material weaknesses, as defined above, as of
December 31, 1998.
This report is intended solely for the information and use
of management and Board of Trustees of Kalmar Pooled
Investment Trust and the Securities and Exchange Commission.
PricewaterhouseCoopers LLP.
January 22, 1999
