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SIGNATURE MICHELLE WHALEN
TITLE SR. ADMINISTRATOR
To the Shareholders and Board of Directors of
The Irish Investment Fund, Inc.:
In planning and performing our audit of the financial statements and
financial highlights of the Irish Investment Fund (the "Fund") for the
year ended October 31, 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 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 control, error or fraud may
occur and 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 one or more of the internal control components does not
reduce to a relatively low level the risk that misstatements caused by
error 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 and its operation, including controls over
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 Board of Directors of the Fund, and the Securities and
Exchange Commission and should not be used by anyone other than the
specified parties.
PRICEWATERHOUSECOOPERS LLP
Philadephia, Pennsylvania
December 10, 1999
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