Exhibit 13
PURCHASE AGREEMENT
Wilshire Target Funds, Inc. (the "Company"), a Maryland corporation, and
Wilshire Associates Incorporated (the "Purchaser") hereby agree as follows:
1. The Company hereby offers the Purchaser and the Purchaser hereby
purchases one (1) share (the "Share") at $10 per share of the Company's Wilshire
5000 Index Portfolio (the "Portfolio") with par value of $.001 per share. Each
Share is the "initial share" of the Portfolio. The Purchaser hereby acknowledges
receipt of a purchase confirmation reflecting the purchase of each Share, and
the Company hereby acknowledges receipt from the Purchaser of funds in the
amount of $10 in full payment for each Share.
2. The Purchaser represents and warrants to the Company that each
Share purchased by the Purchaser is being acquired for investment purposes and
not for the purpose of distribution.
3. The Company represents that a copy of its Articles of
Incorporation dated July 31, 1992, as amended, is on file in the office of the
State Department of Assessments and Taxation of the State of Maryland.
4. This agreement has been executed on behalf of the Company by the
undersigned officer of the Company in her capacity as an officer of the Company.
The obligations of this agreement shall be binding only upon the assets and
property of the Portfolio and not upon the assets and property of any other
portfolio of the Company.
5. This agreement may be executed in counterparts, each of which
shall be deemed to be an original, but such counterparts shall, together,
constitute only one instrument.
IN WITNESS WHEREOF, the parties hereto have executed this agreement
as of the 6th day of November, 1998.
WILSHIRE TARGET FUNDS, INC.
Attest:
/s/ Xxxxx Xxxxxxx By: /s/ Xxxxxx X. Xxxxxxx
Xxxxx Xxxxxxx Xxxxxx X. Xxxxxxx
Attest: WILSHIRE ASSOCIATES INCORPORATED
/s/ Xxxxx Xxxxxxx By: /s/ Xxxxxx X. Xxxxxxx
Xxxxx Xxxxxxx Xxxxxx X. Xxxxxxx
