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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 16
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<PAGE> PAGE 18
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SIGNATURE BILL BESTON
TITLE ASSISTANT VICE PRES.
[TYPE]REPORT OF INDEPENDENT AUDITORS
To the Board of Directors of
Transamerica Investors, Inc.
In planning and performing our audit of the financial statements of
Transamerica Investors, Inc. (comprising respectively, the Transamerica
Premier Equity Fund, Transamerica Premier Index Fund, Transamerica
Premier Bond Fund, Transamerica Premier Balanced Fund, Transamerica
Premier Cash Reserve Fund, Transamerica Premier Small Company Fund and
Transamerica Premier Aggressive Growth Fund) for the year ended December
31, 1997, we considered its 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,
and not to provide assurance on the internal control.
The management of Transamerica Investors, Inc. 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 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 one or more of specific internal control components does
not reduce to a relatively low level 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 and its
operation, including controls for safeguarding securities, that we
consider to be material weaknesses as defined above at December 31,
1997.
This report is intended solely for the information and use of the board
of directors and management of Transamerica Investors, Inc. and the
Securities and Exchange Commission.
Los Angeles, California
January 30, 1998
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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