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SIGNATURE GREGG B. KEELING
TITLE SECRETARY/TREASURER
PRICEWATERHOUSECOOPERS
PricewaterhouseCoopers LLP
333 Market Street
San Francisco CA 94105
Telephone (415) 957 3000
Facsimile (415) 957 3394
To the Shareholders and
Board of Directors of Meridian Fund, Inc.
July 26, 1999
In planning and performing our audit of the financial statements of Meridian
Fund Inc., consisting of two separate portfolios, Meridian Fund and Meridian
Value Fund (the "Fund") for the year ended June 30, 1999, we considered its
internal control, including controls over safeguarding securities, in order
to determine our auditing procedures for the purpose 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 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 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 the 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 component 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 controls over safeguarding securities,
that we consider to be material weaknesses as defined above as of June 30,1999.
This report is intended solely for the information and use of management, the
Board of Directors of Meridian Fund, Inc. and the Securities and Exchange
Commission.
/s/ PricewaterhouseCoopers LLP
------------------------------
PricewaterhouseCoopers LLP
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000745467
<NAME> MERIDIAN FUND, INC.
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<PER-SHARE-NAV-BEGIN> 19.30
<PER-SHARE-NII> (.10)
<PER-SHARE-GAIN-APPREC> 3.56
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .47
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.29
<EXPENSE-RATIO> 1.63
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
