Law Offices of
Paul, Hastings, Janofsky & Walker LLP
A Limited Liability Partnership Including Professional Corporations
345 California Street
San Francisco, California 94104-2635
Telephone (415) 835-1600
Facsimile (415) 217-5333
Internet www.phjw.com
December 20, 2000
CCM Partners
44 Montgomery Street, Suite 2100
San Francisco, California 94104
Attn: Mr. Stephen C. Rogers
Re: California Investment Trust (the "Registrant")
Ladies and Gentlemen:
We hereby consent to the continued use in the Registrant's
Registration Statement, until its withdrawal, of our opinion (the "Prior
Opinion") respecting the legality of the shares of beneficial interest for the
following series of California Investment Trust: California Tax-Free Income
Fund, California Insured Intermediate Fund and California Tax-Free Money Market
Fund.
The Prior Opinion was filed as an exhibit to Form 24F-2 filed with the
Commission on October 30, 1996.
Very truly yours,
Paul, Hastings, Janofsky & Walker LLP
