INVESTMENT LETTER
XXXXXXXX PORTFOLIOS, INC.
Xxxxxxxx Portfolios, Inc. (the "Fund"), and open-end, diversified management
investment company, and the undersigned ("Purchaser"), intending to be legally
bound, hereby agree as follows:
1. In order to provide the Xxxxxxxx Xxxxxxxxx Global Portfolio of the Fund
(the "Portfolio") with its initial capital, the Fund hereby sells to
Purchaser and Purchaser purchases 10,000 shares (the "Shares") of Capital
Stock (par value $.001) of the Portfolio at a price of $10.00 per share.
The Fund hereby acknowledges receipt from Purchaser of funds in the amount
of $100,000 in full payment for the Shares.
2. Purchaser represents and warrants to the fund 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 any of the
Shares.
IN WITNESS WHEREOF, the parties have executed this agreement as of the 30th day
of April, 1993 ("Purchase Date").
SELIGMAN PORTFOLIOS, INC.
By: /s/ Xxxxxxxx X. Xxxxx
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Name: Xxxxxxxx X. Xxxxx
Title: Vice President
X. & X. XXXXXXXX & CO. INCORPORATED
By: /s/ Xxxxxxxx X. Xxxxx
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Name: Xxxxxxxx X. Xxxxx
Title: Vice President