INITIAL CAPITAL AGREEMENT
November 3, 1997
Phoenix Investment Trust 97
000 Xxxxxx Xxxxxx
Xxxxxxxxxx, Xxxxxxxxxxxxx 00000
Dear Sirs:
Phoenix Investment Trust 97 (the "Trust") proposes to issue and sell
shares of beneficial interest of its Series (the "Shares") pursuant to a
registration statement on Form N-1A (the "Registration Statement") filed with
the Securities and Exchange Commission. The undersigned hereby offers to
purchase such number of Shares contemporaneous with the effective date of the
Registration Statement (or such earlier date as may be agreed upon) required in
order to provide the Trust with a net worth of at least $100,000 as required by
Section 14 of the Investment Company Act of 1940, as amended.
The undersigned represents and warrants to the Trust that the Shares
are being acquired by us for investment and not with a view to the resale or
further distribution thereof and that we have no present intention to redeem the
Shares.
Please confirm that the foregoing correctly sets forth our agreement
with the Trust.
Very truly yours,
Phoenix Home Life Mutual Insurance Company
By: /s/ Xxxxxxx X. Xxxxxxxxxx
-------------------------
Xxxxxxx X. Xxxxxxxxxx
Senior Vice President
Confirmed, as of the date
first above mentioned.
Phoenix Investment Trust 97
By: /s/ Xxxxxx X. XxXxxxxxxx
------------------------
Xxxxxx X. XxXxxxxxxx
President