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<PAGE> PAGE 3
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SIGNATURE LINDSEY R PINKHAM
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the annual report
dated December 31, 1997, for the Mutual Investment Fund of Connecticut, Inc. and
is qualified in its entirety by reference to such annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 32,834
<INVESTMENTS-AT-VALUE> 40,510
<RECEIVABLES> 7
<ASSETS-OTHER> 50
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<TOTAL-LIABILITIES> 726
<SENIOR-EQUITY> 0
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<SHARES-COMMON-STOCK> 1,115
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<SHARES-REINVESTED> 6,042
<NET-CHANGE-IN-ASSETS> (722)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,110
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 37.55
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</TABLE>
1177 AVENUE OF THE AMERICAS TELEPHONE 212 596 7000
NEW YORK, NY 10036 FACSIMILE 212 596 8910
PRICE WATERHOUSE LLP [LOGO]
REPORT OF INDEPENDENT ACCOUNTANTS
February 12, 1998
To the Shareholders and Directors of
Mutual Investment Fund of Connecticut, Inc.
In planning and performing our audit of the financial statements of Mutual
Investment Fund of Connecticut, Inc. (the "Fund") for the year ended December
31, 1997, 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 N-SAR, not to provide assurance on internal control.
The management of the Fund 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
control activities. Generally, control activities that are relevant to an audit
pertain to the entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally accepted
accounting principles. Those control activities include the safeguarding of
assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and 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 components does not reduce to a relatively low level
the risk that errors or irregularities 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,
including control activities for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and use of management and the
Directors of the Fund and the Securities and Exchange Commission.
/s/ PRICE WATERHOUSE LLP
PRICE WATERHOUSE LLP
