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SIGNATURE GARY HIBLER
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000887215
<NAME> THE JENSEN PORTFOLIO, INC.
<S> <C>
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</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and Board of Directors of The Jensen
Portfolio, Inc.:
In planning and performing our audit of the financial statements
and financial
highlights of The Jensen Portfolio, Inc. for the year ended May
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 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 Jensen Portfolio, 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 or 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
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 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
weaknesses as defined
above as of May 31, 1997.
This report is intended solely for the information and use of
management of The
Jensen Portfolio, Inc. and the Securities and Exchange
Commission.
Portland, Oregon
July 7, 1997