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 ANNOUNCES RIGHTS OFFERING DETAILS
DENVER, CO. (April 2, 2001) Blue Chip Value Fund, Inc. (NYSE: BLU) announced that the price for shares issued pursuant to its recently completed rights offering is $6.45 per share. This is 95% of the closing price of the Fund?s Common Stock of $6.79 on Friday, March 30, 2001, the Pricing Date of the offering. The Fund?s N.A.V. on March 30, 2001 was $7.88. The Fund plans to issue 3,522,591 new shares, which represents the entire 3,448,552 shares available in the Offer plus 74,039 additional shares made available by means of the Over-Subscription Privilege. This means that all Over-Subscription requests were accepted by the Fund.
Participants in the Offering can expect that confirmation statements will be mailed by April 4, 2001 and refund checks for the difference between the Estimated and Final Offering Price will be mailed on or about April 11, 2001. The Common Stock certificates and Dividend Reinvestment Participant Confirmation Statements will be mailed by April 18, 2001. The shares issued in the Offer will be eligible for the first quarter distribution.
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