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SIGNATURE WILLIAM M. O'REILLY
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 71,699,642
<INVESTMENTS-AT-VALUE> 112,887,670
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EXHIBIT 99.77B
PRICEWATERHOUSECOOPERS
- --------------------------------------------------------------------------------
PRICEWATERHOUSECOOPERS LLP
203 North LaSalle Street
Chicago, IL 60601-1210
Telephone (312) 701 5500
Facsimile (312) 701 6533
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors and Shareholders of Sentry Fund, Inc.:
In planning and performing our audit of the financial statements and financial
highlights of Sentry Fund, Inc. for the year ended October 31, 1998, 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 Sentry Fund, Inc. 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, 1998.
This report is intended solely for the information and use of management, the
Board of Directors of Sentry Fund, Inc., and the Securities and Exchange
Commission.
/s/ PricewaterhouseCoopers LLP
Chicago, Illinois
November 19, 1998
