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SIGNATURE PHILIPPE E. BAUMANN
TITLE PRESIDENT
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<PAGE>
[Richard A. Eisner & Company, LLP Letterhead]
Board of Directors
Stralem Fund, Inc.
New York, New York
In planning and performing our audit of the financial statements of
Stralem Fund, Inc. for the year ended December 31, 1997, 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 Stralem Fund, Inc. 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 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 structure, 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 structure would not necessarily
disclose all matters in the internal control structure 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 the 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 controls for
safeguarding securities, that we consider to be material weaknesses as
defined above as of December 31, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/ Richard A. Eisner & Company, LLP
New York, New York
January 21, 1998
