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SIGNATURE BRANDON S. JOEL
TITLE TREASURER
<PAGE>
The Board of Trustees
Lord Asset Management Trust
In planning and performing our audit of the financial statements
of the Thomas White World Fund series of Lord Asset Management Trust
for the year ended October 31, 1998, we considered its internal control,
including controls over 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 Lord Asset Management Trust 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
an audit pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in conformity
with generally accepted accounting principles. Those controls include
safeguarding of assets against unauthorized acquisition, use, or disposition.
Because of inherent limitations in any internal control,
errors or irregularities 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 the 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 any specific internal control component 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, including
conrols 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 and the Securities and Exchange Commission.
McGladrey & Pullen, LLP
New York, New York
November 18, 1998
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