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SIGNATURE ROBERT L. MUELLER
TITLE VICE PRESIDENT
<TABLE> <S> <C>
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<CIK> 0000878816
<NAME> PAPP AMERICA-ABROAD FUND, INC.
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<INVESTMENTS-AT-VALUE> 285,776,806
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</TABLE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Directors and Shareholders of the
Papp America-Abroad Fund, Inc.
In planning and performing our audit of the financial statements of
Papp America-Abroad Fund, Inc., for the year ended December 31, 1997,
we considered its internal control structure, including procedures
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 internal control structure.
The management of Papp America-Abroad Fund, Inc., is responsible
for establishing and maintaining an internal control structure.
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, errors or
irregularities may occur and not be detected. Also, projection of
any evaluation of internal contorl 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 the internal control structure would not
necessarily disclose all matters in the internal control structure
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 the
specific internal control components does not reduce to a relatively
low level the risk that errors or irregularities 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 a normal course of performing their assigned functions.
However, we noted no matters involving the internal control structure,
including procedures for safeguarding securities, that we consider to
be material weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and use of managment,
the Board of Directors of Papp America-Abroad Fund, Inc., and the
Securities and Exchange Commission.
Arthur Andersen LLP
Phoenix, Arizona
January 21, 1998
