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<PAGE> PAGE 2
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SIGNATURE CHARLES RIZZ0
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> FLAG INTERNATIONAL FUND
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INDEPENDENT AUDITORS' REPORT
The Audit Committee of the Board of
Directors,
Flag Investors International Fund, Inc.
In planning and performing our audit of
the financial statements of Flag
Investors International Fund, Inc. (the
"Fund") for the year ended October 31,
1999 (on which we have issued our
report dated December 3, 1999), we
considered its internal control, including
control activities for safeguarding
securities, in order to determine our
auditing procedures for the purpose of
expressing our opinion on the financial
statements and to comply with the
requirements of Form N-SAR, and not
to provide assurance on the Fund's
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 any
internal control, misstatements due to
error or fraud may occur and not be
detected. Also, projections of any
evaluation of internal control to future
periods are subject to the risk that the
internal control may become inadequate
because of changes in conditions, or that
the degree of compliance with policies
or procedures may deteriorate.
Our consideration of the Fund's 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 one or more of the internal
control components does not reduce to a
relatively low level the risk that
misstatement caused by error or fraud 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 Fund's internal
control and its operation, including
controls for safeguarding securities, that
we consider to be material weaknesses
as defined above as of October 31,
1999.
This report is intended solely for the
information and use of management, the
Audit Committee of the Board of
Directors of Flag Investors International
Fund, Inc. and the Securities and
Exchange Commission and is not
intended to be and should not be used
by anyone other than these specified
parties.
DELOITTE & TOUCHE LLP
Princeton, New Jersey
December 3, 1999
February 1, 2000
Securities and Exchange Commission
Mail Stop 11-3
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments
relating to our Firm included in an attachment to
Form N-SAR of the Flag Investors International
Fund, Inc. dated February 1, 2000.
.
Yours truly,
Deloitte & Touche LLP
Princeton, New Jersey
January 3, 2000
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549
Commissioners:
Changes in Fund's Certifying Accountant
Previous independent accountants - Deloitte &
Touche LLP
On December 15, 1999, pursuant to the regular
meetings of the Board of Directors, the
following appointment was resolved. The Audit
and Compliance Committee and the Board of
Directors of Flag Investors International Fund
(the "Fund") participated in and approved the
decision to change the Fund's independent
accountants from Deloitte & Touche LLP to
PricewaterhouseCoopers LLP.
The reports of Deloitte & Touche LLP on the
financial statements of the Fund for the past two
fiscal years contained no adverse opinion or
disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or
accounting principle.
In connection with the Fund's audits for the two
most recent fiscal years and through December
15, 1999, there have been no disagreements with
Deloitte & Touche LLP on any matter of
accounting principles or practices, financial
statement disclosure, or auditing scope or
procedure, which disagreements if not resolved
to the satisfaction of Deloitte & Touche LLP
would have caused them to make reference
thereto in their report on the financial statements
for such years.
During the two most recent fiscal years and
through December 15, 1999, there have been no
reportable events (as defined in Regulation S-K
Item 304(a)(1)(v)).
Note - The disclosure that there have been no
reportable events is optional; only a
description of reportable events, if applicable,
is required.)
The Fund has requested that Deloitte & Touche
LLP furnish it with a letter addressed to the SEC
stating whether or not it agrees with the above
referenced statements. A copy of such letter,
dated February 1, 2000, is filed as an attachment
to the Fund's Form N-SAR.
New Independent Accountants -
PricewaterhouseCoopers LLP
The Fund engaged PricewaterhouseCoopers
LLP as its new independent accountants as of
December 15, 1999. During the two most recent
fiscal years and through December 15, 1999, the
Fund has not consulted with
PricewaterhouseCoopers LLP regarding either
(i) the application of accounting principles to a
specified transaction, either completed or
proposed; or the type of audit opinion that might
be rendered on the Fund's financial statements,
and either a written report was provided to the
Fund or oral advice was provided that
PricewaterhouseCoopers LLP concluded was an
important factor considered by the Fund in
reaching a decision as to the accounting,
auditing, or financial reporting issue; or (ii) any
matter that was either the subject of a
disagreement, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K and the related
instructions to Item 304 of Regulation S-K, or a
reportable event, as that term is defined in Item
304(a)(1)(v) of Regulation S-K.
Note - The disclosure that there have been no
consultations with the new accountant is
optional; only a description of consultations is
required.)
Yours truly,
Charles A. Rizzo
Vice President/Treasurer
Deutsche Asset Management
One South Street
Baltimore, MD 21202
Securities and Exchange Commission
February 1, 2000
Page 2
