March 23, 2001 GAINSCO, INC. 500 Commerce Street Fort Worth, Texas 76102 RE: SECURITIES PURCHASE AGREEMENT Gentlemen: Reference is hereby made to that certain Securities Purchase Agreement dated February 26, 2001 by and between Robert W. Stallings and...

   1
                                                                     EXHIBIT 2.7

                               XXXXXX X. XXXXXXXXX
                               0000 XXXXXXX XXXXX
                               XXXXXX, XXXXX 00000

                                 March 23, 2001

GAINSCO, INC.
000 Xxxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxx 00000

         RE:      SECURITIES PURCHASE AGREEMENT

Gentlemen:

         Reference is hereby made to that certain Securities Purchase Agreement
dated February 26, 2001 by and between Xxxxxx X. Xxxxxxxxx and GAINSCO, INC. (as
amended, the "Purchase Agreement"). Terms used herein and not otherwise defined
shall have the respective meanings set forth in the Purchase Agreement.

         The undersigned confirms that for purposes of the Purchase Agreement,
ING Pilgrim Capital Corporation, LLC together with its Affiliates and Associates
is a member of the "Buyer Group".

                                                Sincerely,


                                                    /s/ Xxxxxx X. Xxxxxxxxx
                                                --------------------------------
                                                Xxxxxx X. Xxxxxxxxx