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SIGNATURE JULIAN SLUYTERS
TITLE TREASURER
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<NAME> ALL AMERICAN TERM TRUST
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<NAME> ALL AMERICAN TERM TRUST
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</TABLE>
For period ending January 31, 1997 Attachment 77Q(2)
File number 811-7352
All-American Term Trust Inc.
A Form 3 required by Section 16(a) of the Exchange Act was filed
late by the following officer during the most recent fiscal year.
Number of
Transactions Not
Number of Reported on
Name Position with Fund Late Reports* Timely Basis
Emil Polito Vice President 1 0
* The report related solely to such person having been elected an
officer of the Fund.
Board of Directors
All-American Term Trust Inc.
In planning and performing our audit of the financial statements of
All-American Term Trust Inc. for the year ended January 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, not to provide assurance on the internal control
structure.
The management of All-American Term Trust 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 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 January 31, 1997.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission.
ERNST & YOUNG LLP
March 11, 1997
