CALIFORNIA INVESTMENT TRUST
                        44 Montgomery Street, Suite 2100
                         San Francisco, California 94104

                                November 13, 1998


Filed via EDGAR (CIK # 0000778205)

Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C.  20549

RE:      California Investment Trust II
         File Nos. 33-00500, 811-04418

Ladies and Gentlemen:

On behalf of California  Investment Trust II (the  "Registrant") and pursuant to
Rule 477 under the  Securities  Act of 1933, as amended,  we desire to withdraw,
and hereby  request that the Commission  withdraw,  the filing made on behalf of
the Registrant on October 30, 1998, with Accession No. 0001012709-98-000424 (the
"Filing").

The  Filing  included  the  contents  of Post  Effective  Amendment  No. 24 (the
"Amendment") to the Registrant's Registration Statement. However, the Filing was
prepared pursuant to Rule 485(a) of the Securities Act of 1933, as amended,  and
inadvertently  transmitted  under  EDGAR form type  485BPOS.  Subsequently,  the
Amendment  was  properly  filed under EDGAR form type  485APOS.  The  Registrant
believes that  withdrawal of the Amendment  would be consistent  with the public
interest and the protection of investors  since:  (1) the filing was prepared in
contemplation that it would be submitted under Rule 485(a) and was inadvertently
submitted  with the incorrect  EDGAR form type and (2) the existence of two Post
Effective Amendment Nos. 24 could confuse investors.

Very truly yours,

/s/Stephen C. Rogers                                 
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Stephen C. Rogers, Secretary
California Investment Trust II