PURCHASE AGREEMENT
The Industry Leaders Fund, a Delaware business trust (the "Trust"), and
Claremont Investment Partners LLC ("Claremont") hereby agree as follows:
1. The Trust hereby offers and Claremont hereby purchases shares (the
"Original Shares") of each Class of the Trust as indicated on Exhibit A,
attached hereto. Claremont hereby acknowledges receipt of a purchase
confirmation reflecting the purchase of the Shares, and the Trust hereby
acknowledges receipt from Claremont in the amount of $100,000 in full payment
for the Original Shares.
2. Claremont represents and warrants to the Trust that the Original
Shares are being acquired for investment purposes and not with a view to the
distribution thereof.
IN WITNESS WHEREOF, the parties hereto have executed this agreement
this 24th day of November, 1998.
THE INDUSTRY LEADERS FUND
By:/s/ Xxxxxx X. Xxxxxxxx
Name: Xxxxxx X. Xxxxxxxx
Title: President
CLAREMONT INVESTMENT PARTNERS LLC
By:/s/ Xxxxxx X. Xxxxxxxx
Name: Xxxxxx X. Xxxxxxxx
Title: President
Attest:
/s/ Xxxxxx X. Xxxxxx
Name: Xxxxxx X. Xxxxxx, Esq.
Title: Fund Counsel
Exhibit A
INDUSTRY LEADERS FUND
Claremont Investment Partners LLC Original Share Purchase
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Name of Class Number of Shares Price Per Share
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Class D 5,000 $10.00
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Class I 5,000 $10.00
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