REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Trustees of
The Advisors' Inner Circle Fund:
In planning and performing our audit of the
financial statements of The Advisors' Inner
Circle Fund for the year ended October 31, 2000,
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,
not to provide assurance on internal control.
The management of The Advisors' Inner Circle 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 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 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 for
safeguarding securities, that we consider to be
material weaknesses as defined above as of October 31, 2000.
This report is intended solely for the information
and use of management and the Board of Trustees of
The Advisors' Inner Circle Fund and the Securities
and Exchange Commission and is not intended to be and
should not be used by anyone other than these specified
parties.
ARTHUR ANDERSEN LLP
Philadelphia, Pennsylvania
December 15, 2000
