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SIGNATURE MICHAEL A. PIGNATARO
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000865277
<NAME> THE EMERGING MARKETS TELECOMMUNICATIONS FUND, INC.
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REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors of
The Emerging Markets Telecommunication Fund, Inc.:
In planning and performing our audit of the financial statements and
financial highlights of The Emerging Markets Telecommunications
Fund, Inc. for the year ended May 31, 1996, 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 financial highlights and to
comply with the requirements of Form N-SAR, not to provide assurance on
the internal control structure.
The management of The Emerging Markets Telecommunications 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 internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management
with reasonable, but not absolute, assurance that assets are safeguarded
against loss from unauthorized use of disposition and that transactions
are executed in accordance with management's authorization and recorded
properly to permit preparation of financial statements in conformity with
generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors
or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure 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 weakness 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 structure
elements 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 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 the internal control structure, including procedures
for safeguarding securities, that we consider to be material weakness,
as defined above, as of May 31, 1996.
This report is intended solely for the information and use of management
and the Board of Directors of The Emerging Markets Telecommunications
Fund, Inc. and the Securities and Exchange Commission.
COOPERS & LYBRAND L.L.P
2400 Eleven Penn Center
Philadelphia, Pennsylvania
July 16, 1996
