**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

**Shareholders and Board of Trustees Saturna Investment Trust Bellingham, Washington**

 

In planning and performing our audits of the financial statements of the Idaho  Tax-Exempt Fund, Sextant Short-Term Bond Fund, Sextant Bond Income Fund, Sextant  Core Fund, Sextant Growth Fund and Sextant International Fund (the "Funds"),  a series of Saturna Investment Trust as of and for the year ended November 30,  2007, in accordance with the standards of the Public Company Accounting Oversight  Board (United States), we considered the Funds’ internal control over  financial reporting, including controls over 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 generally accepted accounting principles.  A company's 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 company; (2) provide reasonable assurance that transactions are  recorded as necessary to permit preparation of financial statements in accordance  with generally accepted accounting principles, and that receipts and expenditures  of the company are being made only in accordance with authorizations of management  and directors of the company; and (3) provide reasonable assurance regarding  prevention or timely detection of unauthorized acquisition, use or disposition  of a company's 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 company’s  annual or interim financial statements will not be prevented or detected on  a timely basis.

 

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**Shareholders and Board of Trustees****Saturna Investment Trust****Page Two**

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 material weaknesses  under standards established by the Public Company Accounting Oversight Board  (United States). However, we noted no deficiencies in the Funds' internal control  over financial reporting and its operation, including controls over safeguarding  securities, that we consider to be material weaknesses as defined above as of  November 30, 2007.

Thisreport is intended solely for the information and use of management, the Boardof Trustees of the Saturna Investment Trust and the Securities and ExchangeCommission, and is not intended to be and should not be used by anyone otherthan these specified parties.

 

**TAIT, WELLER & BAKER LLP**

 

**Philadelphia, Pennsylvania****January 29, 2008**