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SIGNATURE PAUL A. ROBINSON
TITLE SECRETARY/TREASURER
PRICEWATERHOUSECOOPERS
PricewaterhouseCoopers LLP
555 California Street
San Francisco CA 94104
Telephone (415) 393 8500
Facsimile (415) 393 8644
To the Directors and Shareholders of
Meridian Fund, Inc.
July 31, 1998
In planning and performing our audits of the financial statements of Meridian
Fund and Meridian Value Fund (two investment portfolios which comprise
Meridian Fund, Inc. and hereafter are referred to as the "Funds") for the year
ended June 30, 1998, we considered their internal control, including control
activities for safeguarding securities, in order to determine our auditing
procedures for the purposes of expressing our opinions on the financial
statements and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control.
The management of the Funds 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 unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and may not be detected. Also, projection of any evaluation of the
structure 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 the 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 the 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 the internal control, including control activities for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1998.
This report is intended solely for the information and use of management and
the Board of Directors of Meridian Fund, Inc. and the Securities and Exchange
Commission.
/s/ PricewaterhouseCoopers LLP
------------------------------
PricewaterhouseCoopers LLP
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