NEWS RELEASE FOR IMMEDIATE RELEASE
DATE:
MONDAY, JULY 1, 2002
FROM: BLUE CHIP VALUE FUND, INC.
NYSE: BLU
1225 17TH STREET, 26TH FLOOR
DENVER, COLORADO 80202
CONTACT: MARGARET JURADO, INVESTOR RELATIONS
(800) 624-4190
BLUE CHIP VALUE FUND DECLARES SECOND QUARTER DISTRIBUTION
Denver, CO. (July 1, 2002) The Directors of Blue Chip Value Fund, Inc., have declared a distribution of $0.15 per share. This distribution is payable July 26, 2002, to stockholders of record July 12, 2002, and will have an ex-dividend date of July 10, 2002. The Fund pays a quarterly distribution equal to 2.5% of its Net Asset Value.
As of June 28, 2002, the Fund's N.A.V. was $5.99 and the stock closed at $6.10, a premium of 1.84%.
Blue Chip Value Fund, Inc. can be found on the Internet at www.blu.com.
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| Accenture Ltd |
| ACE Ltd |
| Allstate Corp |
| Alltel Corp |
| American International Group |
| American Power Conversion |
| AON Corp |
| Apache Corp |
| Avnet Inc |
| BellSouth Corp |
| Bowater Inc |
| Bristol-Myers Squibb Co |
| Citigroup Inc |
| Conoco Inc |
| Delta Air Lines Inc |
| Dow Jones & Co Inc |
| Federal Home Loan Mortgage Corp |
| FPL Group Inc |
| General Dynamics Corp |
| Hartford Financial Services Group Inc |
| Intel Corp |
| International Business Machines Corp |
| Interpublic Group Cos Inc |
| JP Morgan Chase & Co |
| Lehman Bros Holdings Inc |
| Masco Corp |
| Microsoft Corp |
| Millipore Corp |
| Nationwide Financial Services |
| Ocean Energy Inc |
| Omnicare Inc |
| Parker Hannifin Corp |
| Philip Morris Cos Inc |
| Yum! Brands Inc |
| Principal Financial Group |
| Raytheon Co |
| Reliant Energy Inc |
| Royal Dutch Pete Co |
| Safeway Inc |
| Starwood Hotels & Resorts Worldwide Inc |
| Sun Microsystems Inc |
| Target Corp |
| Tenet Healthcare Corp |
| TJX Companies Inc |
| Union Pacific Corp |
| Viacom Inc |
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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 investment in a portfolio having at least 80% of its net assets in equity securities of large companies with headquarters in the United States. These stocks are included in, or similar in size to those included in, the Standard & 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.