August 20, 1997

Mr. Edward W. Bickford

David L. Babson & Co. Investment Counsel

One Memorial Drive

Cambridge, MA 02142-1300

Dear Mr. Bickford:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. John E. Egneri

Senior Vice President

Dreyfus Investment Advisors, Inc.

200 Park Avenue, Floor 10

New York, NY 10166

Dear Mr. Egneri:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. Bob Murray

Director-Marketing

Amerindo Investment Advisors, Inc.

399 Park Avenue, Floor 18

New York, NY 10022

Dear Mr. Murray:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Hillson Financial Management

6900 Wisconsin Avenue

Suite 501

Bethesda, MD 20815

Gentlemen:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. Scott Powers

Director of Marketing

Boston Company Asset Management, Inc.

One Boston Place, Floor 13

Boston, MA 02108-4401

Dear Mr. Powers:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. Jeff Gerson

J.L. Kaplan Associates

75 Park Plaza

Boston, MA 02116

Dear Mr. Gerson:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. John Hughes

Vice President

Director of Marketing & Client Services

Kopp Investment Advisors

6600 France Avenue South

Suite 672

Edina, MN 55435

Dear Mr. Hughes:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. Robert Follert

Executive Vice President

Axe-Houghton

Royal Executive Park

4 International Drive

Rye Brook, NY 10573

Dear Mr. Follert:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. Eric Johnson

Senior Vice President

Alliance Capital Management

1345 Avenue of the Americas

New York, NY 10105

Dear Mr. Johnson:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. David Elliott

Vice President

Robertson, Stephens & Co.

Investment Management

555 California Street

Suite 2600

San Francisco, CA 94104

Dear Mr. Elliott:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. Todd S. Jessup

Marketing Associate

PNC Equity Advisors Company

1600 Market Street

27th Floor

Philadelphia, PA 19103

Dear Mr. Jessup:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Ms. Trish Carroll

Alex Brown Capital Advisory & Trust Company

19-21 South Street

Baltimore, MD 21202

Dear Ms. Carroll:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye

August 20, 1997

Mr. Daniel L. Leary

SASCO Capital

Ten SASCO Hill Road

Fairfield, CT 06430

Dear Mr. Leary:

Thank you for the information you provided about your firm's organization and services.

I regret to inform you that your firm was not selected as a final candidate in the selection process.

Your firm has impressive credentials and there may be an opportunity in the future to once again review your services and qualifications.

Very truly yours,

Robert N. Berkopec

RNB/ye