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EX-99.L INT CAP AGRE 312 investmentletters.htm LETTERS FROM PLIC AND PMC ESTABLISHING SEED ACCOUNTS PRINCIPAL FUNDS, INC - Initial Capital Agreements dated 12/15/2008 Filed as Ex-99(l)(53) on 12/31/2008 (Accession No. 0000898745-08-000184)  
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Principal     
                     Financial    Principal Life 
                     Group    Insurance Company 
 
 
 
December 15, 2008     
 
 
Ms. Nora Everett, President     
Principal Funds, Inc.     
Principal Financial Group     
Des Moines, IA 50392-2080     
 
 
Dear Ms. Everett     
 
Principal Life Insurance Company intends to purchase the following shares (the “Shares”): 
 
  Purchase  Shares 
                   Principal Funds, Inc. -  Amount  Purchased 
                       Mortgage Securities, Class J  $10,000  936.330 
                       Mortgage Securities, Class R-1  $10,000  936.330 
                       Mortgage Securities, Class R-2  $10,000  936.330 
                       Mortgage Securities, Class R-3  $10,000  936.330 
                       Mortgage Securities, Class R-4  $10,000  936.330 
                       Mortgage Securities, Class R-5  $10,000  936.330 
 
Each share has a par value of $10.68 per share. In connection with such purchase, Principal 
Life Insurance Company represents and warrants that it will purchase such Shares as an 
investment and not with a view to resell, distribute or redeem.   
 
PRINCIPAL LIFE INSURANCE COMPANY        
 
                                                                                                   BY /s/ Michael D. Roughton                                   
Michael D. Roughton                                       
  Vice President and Associate General Counsel 
 
 
 
 
711 High Street, Des Moines, Iowa 50392-0001 (515) 247-5111

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Principal 
                     Management
                     Corporation
                     A Member of the Principal 
                            Financial Group
 
 
December 15, 2008 
 
 
Ms. Nora Everett, President 
Principal Funds, Inc. 
Principal Financial Group 
Des Moines, IA 50392-2080 

Dear Ms. Everett

Principal Management Corporation intends to purchase the following shares (the “Shares”):

  Purchase  Shares 
Principal Funds, Inc. -  Amount Purchased
     Global Diversified Income, Class A  $45,000  4,500 
     Global Diversified Income, Class C  $45,000  4,500 
     Global Diversified Income, Class I  $10,000  1,000 

Each share has a par value of $10.00 per share. In connection with such purchase, Principal Management Corporation represents and warrants that it will purchase such Shares as an investment and not with a view to resell, distribute or redeem.

PRINCIPAL MANAGEMENT CORPORATION 
 
 
BY /s/ Michael D. Roughton 
         Michael D. Roughton 
         Senior Vice President and Senior Securities 
         Counsel 

Princor Financial Services Corporation, a member of the Principal Financial Group 
Des Moines, Iowa 50392-0200 (800) 247-4123 / FAX (515) 248-4745