ISI STRATEGY FUND, INC.
SUBSCRIPTION AGREEMENT
For and in consideration of the mutual agreements herein
contained, International Strategy & Investment Group Inc. (the "ISI Group")
hereby agrees to purchase from ISI Strategy Fund, Inc., a Maryland corporation
(the "Fund"), and the Fund agrees to sell 9,999 shares of the Fund's ISI
common stock and 1 share of the Fund's Wilshire Institutional common stock,
each having a par value of $.001 per share, at a price of $10.00 per share
(the "Shares"), upon the terms and conditions set forth herein and as part of
a public offering pursuant to the terms and conditions of the Fund's
Registration Statement on Form N-1A (No. 333-31127), as amended and
supplemented, initially filed with the Securities and Exchange Commission on
July 11, 1997.
ISI Group agrees to purchase such Shares and to pay the full
consideration therefor to the Fund upon demand.
ISI Group hereby confirms to the Fund its representations
that it is purchasing such Shares for investment purposes, with no present
intention of redeeming or reselling any portion thereof, and its agreement
that in the event it should dispose of any of such Shares, such transaction
will be effected by redeeming such Shares through the Fund.
Dated: August 12, 1997 INTERNATIONAL STRATEGY & INVESTMENT
GROUP INC.
By: ______________________________________
Title:
Subscription Accepted:
ISI STRATEGY FUND, INC.
By: ______________________________________
Title:
