EX.99.(L)
INVESTMENT LETTER
XXXXXXXX INVESTMENT GRADE FIXED INCOME FUND, INC.
Xxxxxxxx Investment Grade Fixed Income Fund, Inc. (the "Fund"), an open-end,
diversified management investment company, and the undersigned ("Purchaser"),
intending to be legally bound, hereby agree as follows:
1. In order to provide the Fund with its initial capital, the Fund hereby
sells to Purchaser and Purchaser purchases [ ] shares of Class A Capital
Stock (par value $.001) and [ ] shares each of Class B, Class C and Class D
Capital Stock (par value $.001) of the Fund, at a price of $7.14 per share
(the "Shares") as of the close of business on August ___, 2001. The Fund
hereby acknowledges receipt from Purchaser of funds in the amount of $[ ]
in full payment for the Shares.
2. Purchaser represents and warrants to the Fund that the Shares are being
acquired for investment and not with a view to distribution thereof, and
that Purchaser has no present intention to redeem or dispose of the Shares.
IN WITNESS WHEREOF, the parties have executed this agreement as of the ____ day
of August, 2001 ("Purchase Date").
XXXXXXXX INVESTMENT GRADE
FIXED INCOME FUND, INC.
By: /s/ Xxxxxxxx X. Xxxxx
-----------------------------------
Name: Xxxxxxxx X. Xxxxx
Title: Vice President and Treasurer
XXXXXXXX ADVISORS, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
-----------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: President
