EXHIBIT 12(e)
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October 27, 2000
TO: Board of Directors
USAA Mutual Fund, Inc.
10750 Robert F. McDermott Freeway
San Antonio, TX 78288
Dear Sirs:
The undersigned hereby subscribes to 10 shares each of the Extended
Market Index Fund, the Nasdaq-100 Index Fund, the Global Titans Index Fund, and
the Capital Growth Fund series, on October 27, 2000, with one cent par value,
of USAA Mutual Fund, Inc. at a price of $10.00 per share for each Fund and
agrees to pay therefore upon demand, cash in the amount of $100 to each of the
named Funds.
Very truly yours,
USAA INVESTMENT MANAGEMENT COMPANY
/S/ MICHAEL J.C. ROTH
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By: MICHAEL J. C. ROTH
President
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October 27, 2000
USAA Mutual Fund, Inc.
10750 Robert F. McDermott Freeway
San Antonio, TX 78288
Gentlemen:
In connection with your sale to us on October 27, 2000 of ten (10) shares of
capital stock representing interests in the Extended Market Index Fund, ten
(10) shares of capital stock representing interests in the Nasdaq-100 Index
Fund, ten (10) shares of capital stock representing interests in the Global
Titans Index Fund, and ten (10) shares of capital stock representing interests
in the Capital Stock Fund, we understand that: (i) your sale of the Shares to
us is made in reliance on such sale being exempt under Section 4(2) of the 1933
Act as not involving any public offering; and (ii) in part, your reliance on
such exemption is predicated on our representation, which we hereby confirm,
that we are acquiring the Shares for investment for our own account as the sole
beneficial owner of thereof, and not with a view to or in connection with any
resale of distribution of the shares or of any interest therein. We hereby
agree that we will not sell, assign or transfer the Shares or any interest
therein, except upon repurchase or redemption by the Company, unless and until
the Shares have been registered under the 1933 Act or you have received an
opinion of your counsel indicating to your satisfaction that said sale,
assignment or transfer will not violate the provisions of the 1933 Act or any
rules or regulations promulgated thereunder.
Very truly yours,
USAA INVESTMENT MANAGEMENT COMPANY
/S/ MICHAEL J.C. ROTH
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By: Michael J.C. Roth
President
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