PILGRIM ADVISORY FUNDS, INC. PILGRIM ASIA-PACIFIC EQUITY FUND PILGRIM MIDCAP VALUE FUND PILGRIM LARGECAP LEADERS FUND PILGRIM STRATEGIC INCOME FUND 40 N. CENTRAL AVENUE, SUITE 1200 PHOENIX, ARIZONA 85004 November 30, 1998 Pilgrim Securities, Inc. 40...Underwriting Agreement • March 25th, 1999 • Pilgrim Advisory Funds Inc
