[LETTERHEAD OF GRANT THORNTON]
December 12, 2000
Securities and Exchange Commission
450 5th Street, N.W.
Washington, DC 20548
Re: Engex, Inc.
SEC File No.: 811-01639
Gentlemen:
We have read the statements related to the change of certifying accountants made
by Engex, Inc. (the "Registrant") in its filing on Form N-SAR for its fiscal
year ended September 30, 2000, which we understand will be filed with the
Securities and Exchange Commission pursuant to the Investment Company Act of
1940. We are in agreement with the statements contained therein regarding those
items required to be reported pursuant to Item 304(a)(1) of regulation S-K. A
copy of the Registrant's statements referred to above is attached hereto as
Exhibit 1.
Very truly yours,
/s/ Grant Thornton LLP
GRANT THORNTON LLP
