[New York Life Insurance Company letterhead]
June 4, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: The MainStay Funds
File Nos. 33-2610; 811-4550
Ladies and Gentlemen:
This letter serves as notification of the existence of a Spanish
language version of The MainStay Funds' (the "Trust's") prospectus dated May 1,
1998.
Pursuant to Rule 306 of Regulation S-T, we hereby represent that a fair
and accurate English translation of the Trust's Spanish language prospectus
dated May 1, 1998 may be found in Post-Effective Amendment No. 45 to the Trust's
registration statement, which was filed April 29, 1998 (accession no.
0000950130-98-002195).
If you have any questions with respect to any of the above, please do
not hesitate to contact Jeffrey L. Steele at (202) 261-3314 or the undersigned
at (212) 576-8149.
Sincerely,
/s/ Sara L. Badler
Sara L. Badler
cc: Jeffrey L. Steele
Dechert Price & Rhoads
