SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-18f-1
NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1 UNDER
THE INVESTMENT COMPANY ACT OF 1940
SIT MID CAP GROWTH FUND, INC.
SIT LARGE CAP GROWTH FUND, INC.
SIT MUTUAL FUNDS, INC.
SIT MUTUAL FUNDS II, INC.
SIT U.S. GOVERNMENT SECURITIES FUND, INC.
SIT MONEY MARKET FUND, INC.
(EXACT NAME OF REGISTRANT)
NOTIFICATION OF ELECTION
The undersigned registered open-end investment companies hereby
notify the Securities and Exchange Commission that each elects to commit itself
to pay in cash all redemptions by a shareholder of record as provided by Rule
18f-1 under the Investment Company Act of 1940. It is understood that this
election is irrevocable while such Rule is in effect unless the Commission by
order upon application permits the withdrawal of this Notification of Election.
SIGNATURE
Pursuant to the requirements of Rule 18f-1 under the Investment
Company Act of 1940, the registrant has caused this notification of election to
be duly executed on its behalf in the city of Minneapolis and the state of
Minnesota on the 6th day of November, 1998.
SIT MID CAP GROWTH FUND, INC.
SIT LARGE CAP GROWTH FUND, INC.
SIT MUTUAL FUNDS, INC.
SIT MUTUAL FUNDS II, INC.
SIT U.S. GOVERNMENT SECURITIES FUND, INC.
SIT MONEY MARKET FUND, INC.
By: /s/ PAUL E. RASMUSSEN
Paul E. Rasmussen
Title: Vice President
Attest: /s/ KELLY K. ORNING
Kelly K. Orning
Title: Compliance and Administration Associate
<PAGE>
November 6, 1998
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, D.C. 20549
RE: Sit Large Cap Growth Fund, Inc. File No. 811-03343
Sit Mid Cap Growth Fund, Inc. File No. 811-03342
Sit Mutual Funds, Inc.
Series A: Sit International Growth Fund File No. 811-06373-03
Series B: Sit Balanced Fund File No. 811-06373-02
Series C: Sit Developing Markets Growth Fund File No. 811-06373-04
Series D: Sit Small Cap Growth Fund File No. 811-06373-01
Series E: Sit Science and Technology Growth Fund File No. 811-06373-05
Series F: Sit Regional Growth Fund File No. 811-06373-06
Sit U.S. Government Securities Fund, Inc. File No. 811-04995
Sit Money Market Fund, Inc. File No. 811-04032
Sit Mutual Funds II, Inc.
Series A: Sit Tax-Free Income Fund File No. 811-04033-01
Series B: Sit Minnesota Tax-Free Income Fund File No. 811-04033-02
Series C: Sit Bond Fund File No. 811-04033-03
Ladies and Gentlemen:
On behalf of the above-referenced Sit Mutual Funds (each, a "Registrant" and,
collectively, the "Registrants"), in connection with Section 18(f)(1) under the
Investment Company Act of 1940 regarding registered open-end investment
companies which have the right to redeem in kind, I herewith enclose and file,
on behalf of each Registrant, a notification of election.
Please direct any questions or comments on the enclosed filings to my attention.
Thank you.
Sincerely,
/s/ Paul E. Rasmussen
Paul E. Rasmussen
Vice President
Encs.
cc: Mike Radmer
