NEWS RELEASE FOR IMMEDIATE RELEASE
DATE:
MONDAY, APRIL 2, 2001
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 DECLARES FIRST QUARTER DISTRIBUTION
DENVER, CO. (April 2, 2001) The Directors of Blue Chip Value Fund, Inc., have declared a distribution of $0.20 per share. This distribution is payable April 27, 2001, to stockholders of record April 12, 2001, and will have an ex-dividend date of April 10, 2001. The Fund pays a quarterly distribution equal to 2.5% of its Net Asset Value.
As of March 30, 2001, the Fund's N.A.V. was $7.88 and the stock closed at $6.79, a discount of 13.83%.
Blue Chip Value Fund, Inc. can be found on the internet at www.blu.com.
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The stocks owned on March
30, 2001, by the Blue Chip Value Fund, Inc. were:
Abbott Laboratories
ACE Ltd
ALLTEL Corp
American Power Conversion
Apache Corp
Avnet Inc
BellSouth Corp
Bristol-Myers Squibb Co
Burlington Northern Santa Fe Corp
Cendant Corp
Charter Communications Inc-Cl A
Citigroup Inc
CMS Energy Corp
Conoco Inc.-Cl B
Duke Energy Corp
Dynegy Inc- Cl A
El Paso Corp
Federal Home Loan Mortgage Corp
FedEx Corp
General Dynamics Corp
Hartford Financial Services Group Inc
Host Marriott Corp
Intel Corp
International Business Machines Corp
Interpublic Group Cos Inc
J.P. Morgan Chase & Co
Kimberly-Clark Corp
Knight Trading Group Inc
Kroger Co
Lehman Bros. Holdings Inc
Microsoft Corp
Omnicare Inc
Philip Morris Cos. Inc
Providian Financial Corp
Raytheon Co-Cl B
Royal Dutch Petroleum Co.- ADR?s
Sandisk Corp
Sanmina Corp
Schering-Plough Corp
Sovereign Bancorp Inc
Target Corp
Telephone & Data Systems Inc
Tenet Healthcare Corp
TJX Companies Inc
Transocean Sedco Forex Inc
Tricon Global Restaurants Inc
UnumProvident Corp
USA Networks Inc
Viacom Inc-Cl B
Washington Mutual Inc
Wells Fargo & Co
Westwood One Inc
XL Capital Ltd
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Blue Chip Value Fund, Inc. is a closed-end diversified management investment company whose objective is to seek a high level of total return through capital appreciation and current income consistent with investment primarily in a diversified portfolio of common stocks. Blue Chip Value Fund will generally be fully invested in approximately 50 common stocks, as well as other equity securities believed by Denver Investment Advisors LLC, to represent the best values among those issued by large companies with headquarters in the United States such as those included in, or similar in size to those included in, the Standard & Poor's 500 Composite Stock Price Index. The Fund features a Dividend Reinvestment and Cash Purchase Plan. Denver Investment Advisors LLC is the Fund's investment adviser. Denver Investment Advisors LLC also manages the Westcore Funds, a family of 12 no-load mutual funds.