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<PAGE> PAGE 2
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<PAGE> PAGE 9
SIGNATURE KATHLEEN S. TILLOTSON
TITLE EXECUTIVE V.P.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0001040566
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Independent Auditor's Report
The Shareholder and Board of Directors of
Kopp Funds, Inc.:
We have audited the accompanying statement of assets and liabilities of
Kopp Emerging Growth Fund (the "Fund"), a series of Kopp Funds, Inc.,
a Minnesota corporation, as of September 30, 1997. This financial
statement is the responsibility of the Fund's management. Our
responsibility is to express an opinion on this financial statement based
on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statement is free
of material misstatement. An audit of a financial statement includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statement. Our procedures included
confirmation of cash owned with the custodian. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
In our opinion, the statement of assets and liabilities referred to above
presents fairly, in all material respects, the financial position of Kopp
Emerging Growth Fund as of September 30, 1997, in conformity with
generally accepted accounting principles.
Minneapolis, Minnesota
October 27, 1997
