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SIGNATURE EDWARD J. VEILLEUX
TITLE EXEC. VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BT ALEX. BROWN CASH RESERVE FUND, INC.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BT ALEX. BROWN CASH RESERVE FUND, INC.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BT ALEX. BROWN CASH RESERVE FUND, INC.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BT ALEX. BROWN CASH RESERVE FUND, INC.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000353447
<NAME> BT ALEX. BROWN CASH RESERVE FUND, INC.
<SERIES>
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<NAME> TAX FREE SERIES - RETAIL CLASS
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<NAME> BT ALEX. BROWN CASH RESERVE FUND, INC.
<SERIES>
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</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
-------
To the Board of Directors of
Alex. Brown Cash Reserves Fund, Inc.
In planning and performing our audit of the financial statements and financial
highlights of the Alex. Brown Cash Reserves Fund, Inc. (comprised of the Prime,
Treasury and Tax-Free Series) for the year ended March 31, 1998, we considered
their internal control, including control over safeguarding securities, in order
to determine our auditing procedures for the purpose of expressing our opinion
on the financial statements and financial highlights and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of Alex. Brown Cash Reserves Fund, Inc. 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 entity's objective of preparing financial
statements and financial highlights 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 controls, errors or fraud may occur
and may not be detected. Also, projection of any evaluation of internal control
to future periods is subject to the risk that it may become inadequate because
of changes in conditions or that the effectiveness of the 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 any
specific internal control component does not reduce to a relatively low level
the risk that errors or fraud in amounts that would be material in relation to
the financial statements and financial highlights 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, including controls over safeguarding securities, that we
consider to be material weaknesses, as defined above, as of March 31, 1998.
This report is intended solely for the information and use of the management
and Board of Directors of Alex. Brown Cash Reserves Fund, Inc. and the
Securities and Exchange Commission.
COOPERS & LYBRAND L.L.P.
Philadelphia, Pennsylvania
May 1, 1998
