Xxxxx & Steers Equity Income Fund, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
August 6, 1997
Xxxxx & Steers Capital Management, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Dear Sirs:
Xxxxx & Steers Equity Income, Inc. (the "Fund") hereby accepts your offer
to purchase 8,726.003 shares at a price of $11.46 per share for an aggregate
purchase price of $100,000. This agreement is subject to the understanding that
you have no present intention of selling or redeeming the shares so acquired.
Any redemption of these shares by you will be reduced by a pro rata portion
of any then unamortized organization expenses of the Fund. This proration will
be calculated by dividing the number of shares to be redeemed by the aggregate
number of shares held which represent the initial capital of the Fund.
Sincerely,
XXXXX & STEERS EQUITY
INCOME FUND, INC.
By: /s/ Xxxxxx Xxxxx, President
Accepted:
XXXXX & STEERS CAPITAL
MANAGEMENT, INC.
By: /s/ Xxxxxx Xxxxx, President
