<PAGE> PAGE 1
000 B000000 12/31/1999
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007 C020300 DRESDNER RCM INTERNATIONAL GROWTH EQUITY FUND
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<PAGE> PAGE 2
011 A00AA01 FUNDS DISTRIBUTOR, INC.
011 B00AA01 8-16412
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
012 A00AA01 STATE STREET BANK AND TRUST COMPANY
012 B00AA01 85-05003
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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025 A000301 STATE STREET BANK AND TRUST COMPANY
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025 A000304 HSBC HOLDINGS, PLC
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025 A000305 NOMURA SECURITIES CO, LTD
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<PAGE> PAGE 20
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048 H020300 0.000
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048 I020300 0.000
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070 J020300 Y
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070 K020300 Y
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070 M010300 Y
070 M020300 Y
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SIGNATURE MIKE RILEY
TITLE ASST SECRETARY
Dresdner RCM Capital Funds
Appendix A
Rule 10f3 Transactions
July 1 to December 31,1999
Date
Fund
Security
Registered Under the Securities Act of 1933
Purchase Price
Firm Commitment Underwriting
Commission Reasonable and Fair
Issuer in Operation 3 Years
Shares Purchased
% of Fund Assets
Purchased from an Unaffiliated Broker
Dealer Purchased From
% of Shares Purchased by DRCM Funds (1)
Fund Assets
Shares Offered
12/16/1999
Dresdner RCM MidCap Fund
Infonet Services Corp
Yes
$21.00
Yes
Yes
Yes
23,300
0.04%
Yes
MLCO
0.061%
$1,229,558,401
38,500,000
10/12/1999
Dresdner RCM International Growth Equity Fund
Sonera OYJ Group Plc
No
$25.48
Yes
Yes
Yes
20,100
0.28%
Yes
GSCO
0.016%
$182,850,707
127,000,000
12/16/1999
Dresdner RCM International Growth Equity Fund
Infonet Services Corp
Yes
$21.00
Yes
Yes
Yes
22,200
0.18%
Yes
MLCO
0.058%
$254,732,808
38,500,000
07/28/1999
Dresdner RCM International Growth Equity Fund
Telecom Eireann
Yes
$4.60 EUR
Yes
Yes
Yes
50,400
0.17%
Yes
MLCO
0.07%
$145,595,725
939,300,000
(1)Represents purchases by all affiliated funds. The amount of
securities of any class of such issue to be purchased in aggregate
by an investment company utilizing Dresdner RCM as an investment
advisor may not exceed 10% of the principal amount of the
offering of that class of securities.
Report of Independent Accountants
To the Board of Directors and Shareholders
of the Dresdner RCM Capital Funds, Inc.:
In planning and performing our audit of the
financial statements of the Dresdner RCM Capital
Funds (consisting of Dresdner RCM MidCap Fund,
Dresdner RCM Small Cap Fund and Dresdner RCM
International Growth Equity Fund), hereinafter
referred to collectively as the Funds for the year
ended December 31, 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 NSAR, not to
provide assurance on internal control.
The management of the Funds 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 entitys 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 controls may become inadequate
because of changes in conditions or that the
effectiveness of their design and operation may
deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in 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 misstatements caused by error 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 internal control and its operation,
including controls for safeguarding securities,
that we consider to be material weaknesses as
defined above as of December 31, 1999.
This report is intended solely for the information
and use of the Board of Directors, management and
the Securities and Exchange Commission and is not
intended to be and should not be used by anyone
other than these specified parties.
PricewaterhouseCoopers LLP
Boston, Massachusetts
February 18, 2000
DRESDNER RCM CAPITAL FUNDS, INC.
ARTICLES OF AMENDMENT
TO ARTICLES OF INCORPORATION
Dresdner RCM Capital Funds, Inc., a Maryland
corporation, having its principal office in the State of
Maryland in Baltimore City (hereinafter called the
Corporation), hereby certifies to the State Department of
Assessments and Taxation of Maryland that:
FIRST: The Charter of the Corporation is hereby
amended by amending the name of the corporate series of
stock entitled Dresdner RCM Growth Equity Fund to Dresdner
RCM MidCap Fund.
SECOND: The amendment to the Charter of the
Corporation as set forth above has been approved by at
least a majority of the Board of Directors of the
Corporation and is limited to changes expressly permitted
by Section 2.605 of the Maryland General Corporation Law to
be made without action by the stockholders of the
Corporation.
IN WITNESS WHEREOF, Dresdner RCM Capital Funds,
Inc. has caused these Articles of Amendment to be executed
by its President and witnessed by its Assistant Secretary
on this 8th day of December, 1999. The President of the
Corporation who signed these Articles of Amendment
acknowledges them to be the act of the Corporation and
states under penalties of perjury that, to the best of his
knowledge, information and belief, the matters and facts
set forth herein relating to authorization and approval
hereof are true in all materials respects.
WITNESS: DRESDNER RCM CAPITAL FUNDS, INC.
By:/s/Karin Brotman By:/s/Anthony Ain
Karin Brotman Anthony Ain
Assistant Secretary President
Page 1 Dresdner RCM Global Investors
December 8, 1999
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