Exhibit 23(l)
SUBSCRIPTION AGREEMENT
July 8, 1999
The RISA Investment Trust
000 Xxxxx 00xx Xxxxxx, Xxxxx 000
Xxxxxxxxxxxx, XX 00000
Gentlemen:
RISA Investment Advisers, LLC hereby agrees to purchase 10,000 shares of
beneficial interest (the "Shares") of The RISA Investment Trust (the "Trust") at
$10.00 per share for an aggregate purchase price of $100,000. The Trust, by its
acknowledgment below, acknowledges receipt of funds in the amount of $100,000 in
full payment of the Shares.
RISA Investment Advisers, LLC further advises that in making this purchase,
which represents the initial capital of The RISA Investment Trust, such purchase
is for investment purposes only and without any present intention of further
distributing such shares or presenting them for redemption or repurchase.
Sincerely,
RISA INVESTMENT ADVISERS, LLC
By: /s/ O. Xxx Xxxxx
-------------------------
Name: O. Xxx Xxxxx
Title: Managing Director
Attest:
The RISA Investment Trust
By: /s/ Xxxxxx St. X. Xxxxxxxx
-----------------------------
Name: Xxxxxx St. X. Xxxxxxxx
Title: Chairman
