EXHIBIT (2)(p)
XXXXXX XXXXXXX
XXXXXX XXXXXXX
ASSET MANAGEMENT INC.
0000 XXXXXX XX XXX XXXXXXXX
XXX XXXX, XXX XXXX 00000
(000) 000-0000
November 17, 1993
The Xxxxxx Xxxxxxx
High Yield Fund, Inc.
c/o Morgan Xxxxxxx Asset Management Inc
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Ladies and Gentlemen:
Xxxxxx Xxxxxxx Asset Management Inc. ("MSAM") agrees to purchase 7,093
shares of Common Stock, par value $.01 per share (the "Shares"), of the Fund at
a price of $14.10 per share. MSAM shall tender to the Fund the amount of
$100,000 in full payment for the Shares.
MSAM represents and warrants to the Fund that the Shares are being
acquired for investment and not with a view to distribution thereof, and that
MSAM has no present intention to redeem or dispose of any of the Shares.
Very truly yours,
XXXXXX XXXXXXX ASSET
MANAGEMENT INC.
/s/ Xxxxx X. Xxxxxx
-------------------
By: Xxxxx X. Xxxxxx
Title: President
