FOSTER PEPPER & SHEFELMAN A Law Partnership Including Professional Service Corporations Direct Dial: (206) 447-8928 October 24, 1996 The Elite Group Trustees Puget Sound Plaza Building, Suite 2144 1325 Fourth Avenue Seattle, Washington 98101 Re: The...Rule 24f-2 Notice • November 15th, 1996 • Elite Group
Contract Type FiledNovember 15th, 1996 CompanyIn connection with the filing of a Rule 24f-2 Notice by The Elite Group, a Massachusetts business trust (the "Trust"), and based on our information regarding the books and records of the Trust, and assuming the shares described below were issued in accordance with the terms of the registration statement on Form S-1 filed under the Securities Act of 1933, we are of the opinion that the 802,603 shares of the Elite Group Trust, which were sold during the fiscal year ended September 30, 1996, were legally issued, fully paid and nonassessable.