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001 A000000 LORD ABBETT FUNDAMENTAL VALUE FUND, INC.
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<PAGE> PAGE 2
080 A000000 ICI MUTUAL INSURANCE CO.
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SIGNATURE JOSEPH VAN DYKE
TITLE ASSISTANT TREASURER
Board of Directors
Lord Abbett Fundamental Value Fund, Inc.:
In planning and performing our audit of the financial statements of Lord Abbett
Fundamental Value Fund, Inc. ("Fund") for the year ended June 30, 1996, we
considered its internal control structure, including procedures for safeguarding
securities, in order to determine our auditing procedures for t he purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal control
structure.
The management of the Fund is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies an procedures. T wo of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions are executed in
accordance with management's authorization and recorded pr operly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and 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 effecti veness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure 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 structure elements 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 em ployees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we considers to be material weaknesses as defined above as of
June 30, 1995.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
August 29, 1996
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