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<PAGE> PAGE 2
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<PAGE> PAGE 3
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SIGNATURE CHAD L. NORTON
TITLE SECRETARY
INDEPENDENT AUDITORS' REPORT
To the Board of Directors of New Economy Fund, Inc.:
In planning and performing our audit of the financial
statements of New Economy Fund, Inc. (the "Fund") for the year
ended November 30, 1999 (on which we have issued our report
dated January 7, 2000), 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, and not to provide
assurance on the Fund's 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
controls. Generally, controls 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 controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in any internal control,
misstatements due to error or fraud may occur and not be
detected. Also, projections of any evaluation of internal
control to future periods are subject to the risk that the
internal control may become inadequate because of changes in
conditions, or that the degree of compliance with policies or
procedures may deteriorate.
Our consideration of the Fund's internal control would not
necessarily disclose all matters in the 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 one or more of the internal control components
does not reduce to a relatively low level the risk that
misstatements caused by error or fraud 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 the Fund's
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of November 30, 1999.
This report is intended solely for the information and use of
management, the Board of Directors of New Economy Fund, Inc.,
and the Securities and Exchange Commission and is not intended
to be and should not be used by anyone other than these
specified parties.
DELOITTE & TOUCHE LLP
Los Angeles, California
January 7, 2000
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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