TAX FREE INVESTMENTS CO
485BPOS, EX-99.J(2), 2000-07-26
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                                                                    EXHIBIT j(2)

                         INDEPENDENT AUDITORS' CONSENT
                         -----------------------------



The Board of Directors and Shareholders
Tax-Free Investments Co.:

We consent to the use of our report on the Cash Reserve Portfolio (a portfolio
of Tax-Free Investments Co.) dated May 1, 2000 included herein and the
references to our firm under the headings "Financial Highlights" in the
Prospectuses and "Reports" in the Statement of Additional Information.



/s/ KPMG LLP

KPMG LLP


Houston, Texas
July 26, 2000


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