NEWS RELEASE FOR IMMEDIATE RELEASE
DATE:
MONDAY, March 28, 2002
FROM: BLUE CHIP VALUE FUND, INC.
1225 17TH STREET, 26TH FLOOR
DENVER, COLORADO 80202
CONTACT: MARGARET JURADO, INVESTOR RELATIONS
(800) 624-4190
BLUE CHIP VALUE FUND ANNOUNCES ADDITIONAL RIGHTS OFFERING DETAILS
DENVER, CO. (March 28, 2002) As a follow up to the press release dated March 25, 2002, Blue Chip Value Fund, Inc. (NYSE: BLU) announces that the total shares subscribed for in the recently completed Rights Offering were as follows:
Basic Subscription 1,192,308
Over Subscription 16,310,588
Total
17,502,896
The Fund issued 5,262,771 shares, which represents the entire 4,210,217 shares available in the Offer plus 1,052,554 additional shares made available by means of the Over-Subscription Privilege. Since there were not sufficient shares to honor all over-subscription requests, available shares have been allocated among those who oversubscribed based on the number of shares of Common Stock held of record on the Record Date. Beneficial owners should contact their brokerage firms to determine the total number of shares accepted of the amount originally requested. The shares, along with any excess money collected from beneficial holders, will be submitted to DTC today. Registered holders will be mailed confirmation statements on March 29, 2002.
Blue Chip Value Fund, Inc. would like to thank all of those who participated in the Rights Offering.
*** www.blu.com ***
Blue Chip Value Fund is a closed-end diversified management investment company whose objective is to seek a high level of total return through investment in a portfolio having at least 80% of its assets in equity securities of well established companies with headquarters in the United States. These stocks are included in, or similar in size to those included in, the Standard and Poor's 500 Composite Stock Price Index. The Fund will normally have approximately 50 stocks within the portfolio. The Fund features a Dividend Reinvestment and Cash Purchase Plan. Denver Investment Advisors LLC is the Fund's investment adviser.