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SIGNATURE ALFRED J. RATCLIFFE
TITLE FIRST VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812090
<NAME> THE ZWEIG FUND, INC.
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REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and Board of Directors
of The Zweig Fund, Inc.
In planning and performing our audit of the financial statements and financial
highlights of The Zweig Fund, Inc. (the "Fund") for the year ended December 31,
1998, we considered its internal control, including control over safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and financial highlights
and to comply with the requirements of Form N-SAR, not to provide assurance
on 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 and financial highlights
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 internal controls, errors or fraud may
occur and may not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in 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 any
specific internal control component does not reduce to a relatively low level
the risk that errors or fraud in amounts that would be material in relation
to the financial statements and financial highlights 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 internal control, including controls over safeguarding securities,
that we consider to be material weaknesses as defined above as of December 31,
1998.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
New York, New York
February 1, 1999
