Consent of Independent Auditors
We consent to the reference to our firm under the caption "Financial Statements"
in the Prospectuses and in Part B and to the incorporation by reference in Part
B of our report dated January 21, 2000 on the financial statements and the
financial highlights of Principal Special Markets Fund, Inc., in this
Post-Effective Amendment No. 13 to Form N-1A Registration Statement under the
Securities Act of 1933 (No. 33-59474) and related Prospectuses of Principal
Special Markets Fund, Inc.
/s/ Ernst & Young LLP
Des Moines, Iowa
December 4, 2000
