ALBEMARLE INVESTMENT TRUST/
485BPOS, EX-99.23.J, 2000-12-27
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                          INDEPENDENT AUDITORS' CONSENT

We  consent  to  the  use  in  this  Post-Effective  Amendment  No.  31  to  the
Registration  Statement  of The North  Carolina  Tax Free  Bond  Fund  under the
Securities  Act of 1933,  filed under  Registration  No.  811-5098 of our report
dated  September  29,  2000  incorporated  by  reference  in  the  Statement  of
Additional  Information,  which is part of such Registration  Statement,  and to
references to us under the captions "Financial  Highlights" and "Other Services"
in such Registration Statement.

DELOITTE & TOUCHE LLP

Dayton, Ohio
December 27, 2000



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