FORM OF SUBSCRIPTION LETTER
_________________, 2000
Board of Trustees of
Satuit Capital Management Trust
5 Driftwood Lane
Scituate, MA 02066
Gentlemen:
Satuit Capital Management, LLC ("Satuit") hereby subscribes for ten
thousand (10,000) shares of beneficial interest of Satuit Capital Micro Cap Fund
(a "Trust"), a series of Satuit Capital Management Trust, a Massachusetts
business trust, at $10.00 per share, for an aggregate purchase price of
$100,000.00. Satuit's payment in full is confirmed.
Satuit hereby represents and agrees that Satuit is purchasing these
shares of common stock for investment purposes, for its own account and risk and
not with a view to any sale, division or other distribution thereof within the
meaning of the Securities Act of 1933 as amended, nor with any present intention
of distributing or selling such shares.
Very truly yours,
SATUIT CAPITAL MANAGEMENT, LLC
By: _______________
Robert J. Sullivan
Managing Director
and Chief Investment Officer
CONFIRMED AND ACCEPTED:
SATUIT CAPITAL MANAGEMENT TRUST
on behalf of its series:
Satuit Capital Micro Cap Fund
By: /S/ ROBERT J. SULLIVAN
-----------------------
Name: ROBERT J. SULLIVAN
Title: TREASURER
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