Independent Auditors' Consent
-----------------------------
The Board of Directors and Shareholders
Permanent Portfolio Family of Funds, Inc.
We consent to the incorporation by reference of our report dated March 12, 1999,
in the Permanent Portfolio Family of Funds, Inc.'s Post-Effective Amendment No.
25 to the Registration Statement No. 2-75661 on Form N-1A under the Securities
Act of 1933 and Amendment No. 25 to the Registration Statement No. 811-3379 on
Form N-1A under the Investment Company Act of 1940.
We also consent to the reference to our Firm under the headings "Financial
Highlights" in the Prospectus and under the heading "Financial Statements" in
the Statement of Additional Information.
Our report dated March 12, 1999, contains an explanatory paragraph that
states that the Securities and Exchange Commission is involved in public
administrative and cease-and-desist proceedings against the Fund's investment
adviser and two of the Fund's directors and officers.
/s/ KPMG LLP
San Francisco, California
May 30, 2000
<PAGE>
Independent Auditors' Report
----------------------------
The Board of Directors and Shareholders
Permanent Portfolio Family of Funds, Inc.
We have audited the statement of changes in net assets of Permanent Portfolio
Family of Funds, Inc. (comprising, respectively, the Permanent Portfolio, the
Treasury Bill Portfolio, the Versatile Bond Portfolio and the Aggressive Growth
Portfolio), for the year ended January 31, 1999, and the financial highlights
for each of the years in the four-year period ended January 31, 1999. The
financial statement and financial highlights are the responsibility of the
Fund's management. Our responsibility is to express an opinion on the financial
statement and financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statement and financial
highlights are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statement and financial highlights referred to
above present fairly, in all material respects, the changes in net assets of
each of the respective portfolios constituting Permanent Portfolio Family of
Funds, Inc. for the year ended January 31, 1999, and their financial highlights
for the periods indicated herein, in conformity with generally accepted
accounting principles.
As discussed in Note 8 to the financial statements, the Securities and Exchange
Commission is involved in public administrative and cease-and-desist proceedings
against the Fund's investment adviser and two of the Fund's directors and
officers, for which no decision has been rendered.
/s/ KPMG LLP
San Francisco, California
March 12, 1999
