PURCHASE AGREEMENT
XXXXXXX, XXXXXXX FUNDS, INC.
Xxxxxxx, Loevner Funds, Inc. (the "Fund"), an open-end management
investment company, and Xxxxx X. Xxxxxxx (the "Purchaser"), intending to be
legally bound, hereby agree as follows:
1. In order to provide the Fund on behalf of its Global Equity
Portfolio (the "Portfolio") with its initial capital, the Fund hereby sells to
Purchaser and Purchaser purchases 1 share of the Portfolio, par value $0.001
per share, at a price of $10.00 per share. The Fund hereby acknowledges
receipt from Purchaser of funds in the amount of $10.00 in full payment for 1
Share of the Portfolio.
2. Purchaser represents and warrants to the Fund that the shares are
being acquired for investment and not with a view to distribution thereof.
IN WITNESS WHEREOF, the parties have executed this agreement as of the
14th day of October, 1996.
XXXXXXX, LOEVNER FUNDS, INC.
By: ____________________________
Xxxxxxx X. Xxxxxxxxx
Secretary
PURCHASER
_____________________________
Xxxxx X. Xxxxxxx
