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SIGNATURE MICHELLE WHALEN
TITLE SR. ADMINISTRATOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<REALIZED-GAINS-CURRENT> (10,655,927)
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<TABLE> <S> <C>
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<CIK> 0000923184
<NAME> MATTHEWS INTERNATIONAL FUNDS
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<NAME> MATTHEWS PACIFIC TIGER FUND - CLASS A
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<CIK> 0000923184
<NAME> MATTHEWS INTERNATIONAL FUNDS
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<NAME> MATTHEWS ASIAN CONVERTIBLE SECURITIES FUND
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<NET-CHANGE-IN-ASSETS> (2,103,295)
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<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 180,825
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<PER-SHARE-NII> 0.13
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000923184
<NAME> MATTHEWS INTERNATIONAL FUNDS
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<NET-INVESTMENT-INCOME> (743,286)
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<NAME> MATTHEWS INTERNATIONAL FUNDS
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<NUMBER> 3
<NAME> MATTHEWS KOREA FUND - CLASS A
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<NET-INVESTMENT-INCOME> (743,286)
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000923184
<NAME> MATTHEWS INTERNATIONAL FUNDS
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<NUMBER> 4
<NAME> MATTHEWS DRAGON CENTURY CHINA FUND - CLASS I
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<OVERDISTRIBUTION-GAINS> 0
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</TABLE>
Ernst & Young LLP
Report of Independent Auditors
To the Board of Trustees and Shareholders Matthews International Funds
In planning and performing our audits of the financial statements of
Matthews International Funds (comprising of, respectively, the Matthews
Pacific Tiger Fund, Matthews Asian Convertible Securities Fund, Matthews
Korea Fund and Matthews Dragon Century China Fund) for the year ended
August 31, 1998 of the Matthews Pacific Tiger Fund, Matthews Asian
Convertible Fund and Matthews Korea Fund, and for the period
February 19, 1998 (commencement of operations) to August 31, 1998 of the
Matthews Dragon Century China Fund, we considered its internal
control structure, 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 the internal
control structure.
The management of Matthews International Funds is responsible for
establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgements by management are required to
assess the expected benefits and related costs 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 generally accepted accounting principles.
Those controls include the safeguarding of assets against unauthorized
acquisition, use or disposition.
Because of inherent limitations in 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 the 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 one or more of the internal control
components 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 and its operation, including controls for safeguarding securities,
that we consider to be material weaknesses as defined above at
August 31, 1998.
This report is intended solely for the information and use of the board of
trustees and management of Matthews International Funds and the Securities
and Exchange Commission.
San Francisco, California
October 9, 1998
