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<PAGE>
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078 000000 N
080 A00AA00 FEDERAL INSURANCE CO.
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SIGNATURE DAVID DANIELSON
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Old
Westbury Annual Report dated October 31, 1995 and is qualified in its entirety
by reference to such Annual Report.
</LEGEND>
<CIK> 0000909994
<NAME> OLD WESTBURY FUNDS, INC.
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-START> NOV-01-1994
<PERIOD-END> OCT-31-1995
<INVESTMENTS-AT-COST> 103,095,276
<INVESTMENTS-AT-VALUE> 101,872,548
<RECEIVABLES> 545,322
<ASSETS-OTHER> 362,850
<OTHER-ITEMS-ASSETS> 3,540,873
<TOTAL-ASSETS> 106,321,593
<PAYABLE-FOR-SECURITIES> 1,814,290
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 312,817
<TOTAL-LIABILITIES> 2,127,107
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 110,622,218
<SHARES-COMMON-STOCK> 0
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<OVERDISTRIBUTION-NII> (113,533)
<ACCUMULATED-NET-GAINS> (5,348,822)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (965,377)
<NET-ASSETS> 104,194,486
<DIVIDEND-INCOME> 2,582,047
<INTEREST-INCOME> 214,425
<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 1,348,195
<REALIZED-GAINS-CURRENT> (4,939,089)
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<NUMBER-OF-SHARES-REDEEMED> (1,842,187)
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</TABLE>
REPORT OF INDEPENDENT AUDITORS
The Board of Trustees and Shareholders of
Old Westbury International Fund:
In planning and performing our audit of the financial statements of Old Westbury
International Fund (the "Fund") for the year ended October 31, 1995, 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 the Fund 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 the
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities nevertheless 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 considered to be material weaknesses as defined above as of
October 31, 1995.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
/s/ Deloitte & Touche LLP
December 11, 1995
