Report of Independent Registered Public Accounting Firm



The Board of Directors and Shareholders
AXP Growth Series, Inc.:


In planning and performing our audits of the financial statements of AXP
Growth Fund, AXP Large Cap Equity Fund, AXP Large Cap Value Fund and AXP
Quantitative Large Cap Equity Fund (funds within the AXP Growth Series,
Inc.) for the year ended July 31, 2005, we considered their internal
control, including control activities for safeguarding securities, in order
to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on internal control.

The management of AXP Growth Series, Inc. is responsible for establishing
and maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess the expected
benefits and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing
financial statements for external purposes that are fairly presented in
conformity with U.S. generally accepted accounting principles. Those
controls include the safeguarding of assets against unauthorized
acquisition, use, or disposition.

Because of inherent limitations in internal control, error or fraud may
occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.

Our consideration of internal control would not necessarily disclose all
matters in the internal control that might be material weaknesses under
standards established by the Public Company Accounting Oversight Board
(United States). A material weakness is a significant deficiency, or
combination of significant deficiencies, that result in more than a remote
likelihood that a material misstatement of the annual or interim financial
statements will not be prevented or detected. However, we noted no matters
involving internal control and its operation, including controls for
safeguarding securities, that we consider to be material weaknesses as
defined above as of July 31, 2005.

This report is intended solely for the information and use of management,
the Board of Directors of AXP Growth Series, Inc., 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/ KPMG LLP
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    KPMG LLP
    Minneapolis, Minnesota
    September 20, 2005