BRIGGS
[GRAPHIC   BUNTING &
 OMITTED]  DOUGHERTY, LLP

           CERTIFIED
           PUBLIC
           ACCOUNTANTS


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



TO THE BOARD OF TRUSTEES OF
CM ADVISERS FAMILY OF FUNDS
AND SHAREHOLDERS OF THE CM ADVISERS FUND
AND THE CM ADVISERS FIXED INCOME FUND


In planning  and  performing  our audit of the  financial  statements  of the CM
Advisers Fund and the CM Advisers Fixed Income Fund,  each a series of shares of
beneficial interest in CM Advisers Family of Funds, as of and for the year ended
February  28,  2007 (on which we have  issued our report  dated  April 12,  2007
(April 29, 2008 with respect to Note 8 of the CM Advisers  Fixed Income  Fund)),
in accordance  with the  standards of the Public  Company  Accounting  Oversight
Board (United  States),  we considered  their  internal  control over  financial
reporting,  including control activities for safeguarding securities, as a basis
for designing our auditing  procedures for the purpose of expressing our opinion
on the financial  statements and to comply with the  requirements of Form N-SAR,
but not for the purpose of  expressing  an opinion on the  effectiveness  of the
Funds' internal  control over financial  reporting.  Accordingly,  we express no
such opinion.

The  management of the Funds is responsible  for  establishing  and  maintaining
effective  internal  control  over  financial  reporting.   In  fulfilling  this
responsibility, estimates and judgments by management are required to assess the
expected  benefits and related costs of controls.  A company's  internal control
over financial  reporting is a process designed to provide reasonable  assurance
regarding  the  reliability  of  financial  reporting  and  the  preparation  of
financial  statements  for  external  purposes  in  accordance  with  accounting
principles  generally  accepted  in the  United  States of  America.  The Funds'
internal control over financial reporting includes those policies and procedures
that (1) pertain to the  maintenance  of records  that,  in  reasonable  detail,
accurately and fairly reflect the transactions and dispositions of the assets of
the Funds; (2) provide  reasonable  assurance that  transactions are recorded as
necessary to permit  preparation of the financial  statements in accordance with
accounting  principles  generally accepted in the United States of America,  and
that receipts and  expenditures of the company are being made only in accordance
with  authorizations  of management  and Trustees of the Funds;  and (3) provide
reasonable  assurance  regarding  prevention or timely detection of unauthorized
acquisition,  use or  disposition  of a Funds' assets that could have a material
effect on the financial statements.

Because of inherent  limitations,  internal control over financial reporting may
not prevent or detect  misstatements.  Also,  projections  of any  evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate  because of changes in  conditions  or that the degree of  compliance
with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design
or operation of a control does not allow management or employees,  in the normal
course  of  performing   their   assigned   functions,   to  prevent  or  detect
misstatements  on a timely  basis.  A  material  weakness  is a  deficiency,  or
combination of deficiencies,  in internal control over financial reporting, such
that  there is a  reasonable  possibility  that a material  misstatement  of the
Funds' annual or interim financial  statements will not be prevented or detected
on a timely basis.




Our  consideration of the Funds' internal  control over financial  reporting was
for  the  limited  purpose  described  in the  first  paragraph  and  would  not
necessarily  disclose  all  deficiencies  in  internal  control  that  might  be
significant  deficiencies or material weaknesses under standards  established by
the Public Company Accounting  Oversight Board (United States). In our report to
you dated April 12, 2007 we reported that we had identified no  deficiencies  in
the  Funds'  internal  control  over  financial  reporting  and its  operations,
including  safeguarding  of  securities  , that  we  considered  to be  material
weaknesses,  as defined above, as of February 28, 2007.  However,  subsequent to
the issuance of that report we noted the following  matter  concerning a control
procedure  and its  operation  that we  consider  to be a material  weakness  as
defined  above.  During the year ended  February 28, 2007 the Funds'  accounting
agent was  applying an  inappropriate  method of accretion of discount on United
States Treasury  Stripped  Securities.  The method utilized had no affect on the
Fund's net assets,  net asset value per share or total  return.  The  accounting
agent has increased the emphasis on the  supervision  and review of the security
set-up process within the Security  Master File and has added a procedure  which
requires  that a complete  audit of the  Security  Master File be performed on a
quarterly  basis.  This  material  weakness was  considered in  determining  the
nature,  timing, and extent of audit tests applied in our audit of the financial
statements  (as  restated) as of and for the year ended  February 28, 2007,  and
this report does not affect our report on those financial statements.

This  report is  intended  solely  for the  information  and use of  management,
shareholders  and the Board of Trustees of CM Advisers Family of Funds,  and the
Securities  and Exchange  Commission and is not intended to be and should not be
used by anyone other than these specified parties.


                                        /s/ BRIGGS, BUNTING & DOUGHERTY, LLP

                                        BRIGGS, BUNTING & DOUGHERTY, LLP


PHILADELPHIA, PENNSYLVANIA
APRIL 12, 2007
(APRIL 29, 2008 AS TO THE MATERIAL WEAKNESS DESCRIBED ABOVE)