EXHIBIT (l)
Xxxxx & Steers Realty Shares, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
June 12, 1991
Xxxxx & Steers
Capital Management, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx, 00000
Dear Sirs:
Xxxxx & Steers Realty Shares, Inc. (the 'Fund') hereby accepts your offer to
purchase 4,000 shares at a price of $25.00 per share for an aggregate purchase
price of $100,000. This Agreement is subject to the understanding that you have
no present intention of selling or redeeming the shares so acquired.
Any redemption of these shares by you will be reduced by a pro rate portion
of any then unamortized organization expenses of the Fund. This proration will
be calculated by dividing the number of shares to be redeemed by the aggregate
number of shares held which represent the initial capital of the Fund.
Sincerely,
XXXXX & STEERS REALTY SHARES, INC.
By: Xxxxxx Xxxxx, President
.................................
Accepted:
XXXXX & STEERS REALTY SHARES, INC.
By: Xxxxxx Xxxxx
.................................
President
