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<PAGE> PAGE 8
SIGNATURE MARK ERICKSON
TITLE FUND ACCOUNTANT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000924725
<NAME> BRAMWELL FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> BRAMWELL GROWTH FUND
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<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1999
<PERIOD-START> JUL-01-1998
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 156,493,379
<INVESTMENTS-AT-VALUE> 267,880,540
<RECEIVABLES> 1,427,556
<ASSETS-OTHER> 36,246
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 269,344,342
<PAYABLE-FOR-SECURITIES> 185,250
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 433,233
<TOTAL-LIABILITIES> 618,483
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 145,671,380
<SHARES-COMMON-STOCK> 10,308,929
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<OVERDISTRIBUTION-GAINS> 0
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<DIVIDEND-INCOME> 1,384,618
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<OTHER-INCOME> 0
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</TABLE>
Exhibit to Accompany
Item 77J
Form N-SAR
The Bramwell Growth Fund
(the "Fund")
According to the provisions of Statement of Position 93 - 2 (SOP
93 - 2) "Determination, Disclosure and Financial Statement
Presentation of Income, Capital Gain and Return of Capital
Distributions by Investment Companies," the Fund is required to
report the accumulated net investment income (loss) and
accumulated net capital gain (loss) accounts to approximate
amounts available for future distributions on a tax basis (or to
offset future realized capital gains). As a result, the Fund has
reclassified accumulated net investment losses of $1,843,326 and
undistributed net realized gains of $1,014,212 to paid-in capital for
the year ended June 30, 1999.
This reclassification has no impact on the net asset value of the
Fund and is designed to present the Funds' capital account on a tax
basis.
REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and Board of Directors of
The Bramwell Funds, Inc.
In planning and performing our audit of the financial statements of
The Bramwell Funds, Inc. - The Bramwell Growth Fund (the
"Fund") for the year ended June 30, 1999, 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
internal control.
The management of the Fund 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 generally accepted accounting
principles. Those controls include the safeguarding of assets
against unauthorized acquisition, use or disposition.
Because of inherent limitations in any internal control, errors or
fraud may occur and may 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 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 of the
risk that errors 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, including controls over
safeguarding securities, that we consider to be material
weaknesses, as defined above, as of June 30, 1999.
This report is intended solely for the information and use of
management, the Board of Directors of the Fund and the Securities
and Exchange Commission.
July 21, 1999
