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. (comprising,
respectively, the Bramwell Growth Fund and the
Bramwell Focus Fund) (the "Funds") for the year ended
June 30, 2000, we considered their internal controls,
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 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 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 Directors, 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.
PricewaterhouseCoopers LLP
Milwaukee, Wisconsin
July 19, 2000
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