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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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SIGNATURE RITA DAM
TITLE ASSISTANT TREASURER
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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Report of Independent Auditors
To the Shareholders and Board of Directors of
Fleming Capital Mutual Fund Group, Inc.
In planning and performing our audit of the financial
statements of Fleming Capital Mutual Fund Group,
Inc. (comprising, respectively, the Fleming Fund and
the Fleming Fledgling Fund) for the periods from
November 13, 1997 and November 14, 1997,
respectively, (commencement of operations) to
September
30, 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 the
internal
control.
The management of Fleming Capital Mutual Fund
Group, Inc. 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,
errors 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 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 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 the internal
control and its operation, including controls for
safeguarding securities, that we consider to be
material weaknesses as defined above at September
30,
1999.
This report is intended solely for the information and
use of the board of directors and management of
Fleming Capital Mutual Fund Group, Inc. and the
Securities and Exchange Commission and is not
intended
to be and should not be used by anyone other than
these specified parties.
ERNST & YOUNG LLP
November 2, 1999
