Report of Independent Accountants
To the Board of Trustees of
The Montgomery Funds II
In planning and performing our audit of
the financial
statements of Montgomery Global Long-
Short Fund, Montgomery U.S. Asset Allocation Fund
(formerly Montgomery U.S. Asset
Allocation Fund), Montgomery Emerging Markets
Focus Fund,
Montgomery Institutional Series:
Emerging Markets Portfolio, Montgomery
Institutional Series: International Growth
Portfolio,
(five portfolios of The Montgomery Funds II)
(collectively the "Funds") for the year ended
June
30, 2000, we considered their 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 to
comply with the requirements of Form N-SAR,
not to
provide assurance on internal control.
The management of the Funds 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 for external purposes
that are
fairly presented in conformity with accounting
principles generally accepted in the United States.
Those controls include the safeguarding of assets
against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal
control, errors 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
controls may become inadequate because of changes
in conditions or that the effectiveness of
their 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 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 for
safeguarding
securities that we consider to be material
weaknesses as defined above as of June 30, 2000.
This report is intended solely for the
information and use of the Board of
Trustees, management
and the Securities and Exchange
Commission and is not intended to
be and should not be used by
anyone other than these specified parties.
August 18, 2000
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