Exhibit (1)
INVESTMENT LETTER
XXXXXXXX XXXXXXX REAL ESTATE SERIES FUND, INC.
Xxxxxxxx LaSalle Real Estate Series Fund, Inc. (the "Corporation"), an open-end
management investment company, and the undersigned ("Purchaser"), intending to
be legally bound, hereby agree as follows:
1. In order to provide Xxxxxxxx LaSalle Monthly Dividend Real Estate Fund, a
series of the Corporation, with its initial capital, the Corporation hereby
sells to Purchaser and Purchaser purchases 8,406 shares of Class A Capital
Stock of the Fund and 1,400 shares of each of Class B, Class C, Class D and
Class R Capital Stock of the Fund (all such shares with a par value $.001)
at a price of $7.14 per share (the "Shares") as of the close of business on
the date hereof. The Fund hereby acknowledges receipt from Purchaser of
funds in the amount of $100,003 in full payment for the Shares.
2. Purchaser represents and warrants to the Corporation that the Shares are
being acquired for investment and not with a view to distribution thereof,
and that Purchaser has no present intention to redeem or dispose of the
Shares.
IN WITNESS WHEREOF, the parties have executed this agreement as of the ____ day
of July, 2003.
XXXXXXXX XXXXXXX REAL ESTATE
SERIES FUND, INC.
By:
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Xxxxxxxx X. Xxxxx
Vice President and Treasurer
XXXXXXXX ADVISORS, INC.
By:
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Xxxxxxx X. Xxxxxxx
President