Santa Fe Financial (SFEF) 10-K 2011 FY Annual report

SANTA FE FINANCIAL CORPORATION

10940 Wilshire Blvd., Suite 2150

Los Angeles, California 90024

Telephone: (310) 889-2500

 Facsimile: (310) 889-2525

Via Electronic Submission

September 21, 2011

United States

Securities and Exchange Commission

Division of Corporate Finance

Washington, D.C. 20549

Re:  Santa Fe Financial Corporation, Form 10-K for Fiscal Year Ended June 30, 2011;

Commission File No. 0-6877

Ladies/Gentlemen:

On behalf of Santa Fe Financial Corporation, we are filing the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2011 by electronic submission. The financial statements in the report do not reflect a change from the preceding year in any accounting principles or practices or in the methods of application of those principles or practices.

Sincerely,

/s/ Michael G. Zybala

Michael G. Zybala

Vice President, Secretary

and General Counsel