August 24, 1999

Mr. William McKee

Fayez Sarofim & Co.

2 Houston Center

Suite 2907

Houston, TX 77010

Fax: 713-654-8184

Dear Bill:

As you know, the positive stock market continues to push the Bradley Foundation's equity allocation above the 75% target allocation. In this connection the Investment Committee has decided to adjust the Foundation's equity portfolio to the 75% target allocation. This will require a reduction in the portfolios of a number of managers, of which $5,000,000 is to be withdrawn from the Bradley Foundation Large Cap portfolio under your management.

The funds should be transferred to the Bradley Foundation Distribution Account under the control of the Northern Trust Company. Please contact James Nikolai (312-557-1347) for wiring instructions when the funds are available. The transfer should be completed as soon as practicable and preferably no later than August 31, 1999. Effective sell execution is more important than timeliness.

Please contact me if you have any questions.

Very truly yours,

Robert N. Berkopec

RNB/ye

cc:	James E. Nikolai, Northern Trust

Thomas L. Rhodes, Bradley Foundation

Karen Goldammer, Bradley Foundation

August 24, 1999

Mr. Robert Hanisee

Trust Company of the West

865 South Figueroa Street

Los Angeles, CA 90017

Fax: 213-244-0238

Dear Bob:

As you know, the positive stock market continues to push the Bradley Foundation's equity allocation above the 75% target allocation. In this connection the Investment Committee has decided to adjust the Foundation's equity portfolio to the 75% target allocation. This will require a reduction in the portfolios of a number of managers, of which $1,000,000 is to be withdrawn from the Bradley Foundation Small Cap portfolio under your management.

The funds should be transferred to the Bradley Foundation Distribution Account under the control of the Northern Trust Company. Please contact James Nikolai (312-557-1347) for wiring instructions when the funds are available. The transfer should be completed as soon as practicable and preferably no later than August 31, 1999. Effective sell execution is more important than timeliness.

Please contact me if you have any questions.

Very truly yours,

Robert N. Berkopec

RNB/ye

cc:	James E. Nikolai, Northern Trust

Thomas L. Rhodes, Bradley Foundation

Karen Goldammer, Bradley Foundation

August 24, 1999

Mr. Roger Hertog

President

Sanford C. Bernstein & Co., Inc.

767 Fifth Avenue

New York, NY 10153-0185

Fax: 212-756-4453

Dear Roger:

As you know, the positive stock market continues to push the Bradley Foundation's equity allocation above the 75% target allocation. In this connection the Investment Committee has decided to adjust the Foundation's equity portfolio to the 75% target allocation. This will require a reduction in the portfolios of a number of managers, of which $1,000,000 is to be withdrawn from the Bradley Foundation International Large Cap portfolio under your management.

The funds should be transferred to the Bradley Foundation Distribution Account under the control of the Northern Trust Company. Please contact James Nikolai (312-557-1347) for wiring instructions when the funds are available. The transfer should be completed as soon as practicable and preferably no later than August 31, 1999. Effective sell execution is more important than timeliness.

Please contact me if you have any questions.

Very truly yours,

Robert N. Berkopec

RNB/ye

cc:	James E. Nikolai, Northern Trust

Thomas L. Rhodes, Bradley Foundation

Karen Goldammer, Bradley Foundation

August 24, 1999

Mr. Andy Stenovec

Capital Guardian Trust Company

1 Market, Steuart Tower

Suite 1800

San Francisco, CA 94105-1409

Fax: 415-263-7931

Dear Andy:

As you know, the positive stock market continues to push the Bradley Foundation's equity allocation above the 75% target allocation. In this connection the Investment Committee has decided to adjust the Foundation's equity portfolio to the 75% target allocation. This will require a reduction in the portfolios of a number of managers, of which $7,000,000 is to be withdrawn from the Bradley Foundation Large Cap Global portfolio under your management.

The funds should be transferred to the Capital Guardian Fixed Income portfolio. Please contact James Nikolai (312-557-1347) for wiring instructions when the funds are available. The transfer should be completed as soon as practicable and preferably no later than August 31, 1999. Effective sell execution is more important than timeliness.

Please contact me if you have any questions.

Very truly yours,

Robert N. Berkopec

RNB/ye

cc:	James E. Nikolai, Northern Trust

Thomas L. Rhodes, Bradley Foundation

Karen Goldammer, Bradley Foundation

August 24, 1999

Mr. Stephen Dean

Rosenberg Institutional Equity Management

4 Orinda Way

Suite 300E

Orinda, CA 94563

Fax: 925-254-0213

Dear Steve:

As you know, the positive stock market continues to push the Bradley Foundation's equity allocation above the 75% target allocation. In this connection the Investment Committee has decided to adjust the Foundation's equity portfolio to the 75% target allocation. This will require a reduction in the portfolios of a number of managers, of which $1,000,000 is to be withdrawn from the Bradley Foundation Small Cap portfolio under your management.

The funds should be transferred to the Bradley Foundation Distribution Account under the control of the Northern Trust Company. Please contact James Nikolai (312-557-1347) for wiring instructions when the funds are available. The transfer should be completed as soon as practicable and preferably no later than August 31, 1999. Effective sell execution is more important than timeliness.

Please contact me if you have any questions.

Very truly yours,

Robert N. Berkopec

RNB/ye

cc:	James E. Nikolai, Northern Trust

Thomas L. Rhodes, Bradley Foundation

Karen Goldammer, Bradley Foundation

August 24, 1999

Mr. Thomas H. Harrison

Vice President

Nicholas Applegate Securities

600 West Broadway

San Diego, CA 92101

Fax: 619-687-8091

Dear Tom:

As you know, the positive stock market continues to push the Bradley Foundation's equity allocation above the 75% target allocation. In this connection the Investment Committee has decided to adjust the Foundation's equity portfolio to the 75% target allocation. This will require a reduction in the portfolios of a number of managers, of which $500,000 is to be withdrawn from the Bradley Foundation Micro Cap portfolio under your management.

The funds should be transferred to the Bradley Foundation Distribution Account under the control of the Northern Trust Company. Please contact James Nikolai (312-557-1347) for wiring instructions when the funds are available. The transfer should be completed as soon as practicable and preferably no later than August 31, 1999. Effective sell execution is more important than timeliness.

Please contact me if you have any questions.

Very truly yours,

Robert N. Berkopec

RNB/ye

cc:	James E. Nikolai, Northern Trust

Thomas L. Rhodes, Bradley Foundation

Karen Goldammer, Bradley Foundation