Principal
Mutual
Funds
October , 1999
Dear Shareholder:
We recently mailed you proxy material for the Principal Mutual Funds'
Shareholder Meeting to be held November 2, 1999. Our most recent vote tabulation
indicates your vote has not yet been received. In the event the original mailing
did not reach you, or is no longer available to you, we are enclosing a
duplicate proxy ballot, voting instructions and a postage-paid return envelope.
Regardless of the number of shares you own, it is important that they be
represented at the meeting. We urge you to sign, date, and mail the enclosed
proxy ballot promptly. You may also vote by phone by calling our proxy
solicitor, D.F. King & Co., Inc. at 1-800-628-8536 or by touch-tone at
1-888-221-0697. You may also vote through the Internet by logging on to
www.proxyweb.com.
For the reasons set forth in the proxy statement which was included in the
initial mailing, your Directors believe passage of each proposal on the agenda
is in the best interest of the Funds and their shareholders and recommend a
vote FOR the proposals.
If you have recently voted, please disregard this mailing. We appreciate your
support as a shareholder and for selecting the Principal Mutual Funds to help
reach your financial goals.
Sincerely,
/s/ Ralph C. Eucher
Ralph C. Eucher
President
Securities offered through Princor Financial Services Corporation, a member of
the Principal Financial Group, Des Moines, Iowa 50392-0200 (800) 247-4123/FAX
(515) 248-4745
