DATE: MONDAY, JULY 3, 2000
FROM: BLUE CHIP VALUE FUND, INC. 
1225 17TH STREET, 26TH FLOOR
DENVER, COLORADO 80202
CONTACT: Margaret Jurado, Investor Relations
(800) 624-4190

DENVER, CO. (July 3, 2000) The Directors of Blue Chip Value Fund, Inc., have declared a distribution of $0.21 per share. This distribution is payable July 28, 2000, to stockholders of record July 14, 2000, and will have an ex-dividend date of July 12, 2000. The Fund pays a quarterly distribution equal to 2.5% of its Net Asset Value.

As of June 30, 2000, the Fund's N.A.V. was $8.51 and the stock closed at $8.375, a discount of 1.586%.

Blue Chip Value Fund, Inc. can be found on the Internet at www.blu.com.

* * * * * * * * * * * * * * * *

The stocks owned on June 30, 2000, by the Blue Chip Value Fund, Inc. were:

Abbott Laboratories
ACE Ltd.
Adobe Systems Inc.
ALLTEL Corp.
Allmerica Financial Corp.
American Express Co.
Antec Corp.
Atmel Corp.
AT&T Corp.
AXA Financial Inc.
Ball Corp.
Bellsouth Corp.
Bristol-Myers Squibb Co.
Cendant Corp.
Citigroup Inc.
Chase Manhattan Corp.
Computer Associates International Inc.
Columbia Energy Group
Coastal Corp.
Conoco Inc.
CVS Corp.
Dow Chemical Co.
Duke Energy Corp.
Dynegy Inc.
El Paso Energy Corp.
Eli Lilly & Co.
General Dynamics Corp.
General Motors Corp.
Hertz Corp.-Cl. A
Ingersoll-Rand Co.
Intel Corp.
J.P. Morgan & Co.
Knight Trading Group Inc.
Lehman Bros. Holdings Inc.
Lucent Technologies Inc.
Merrill Lynch & Co.
Metlife Inc.
Microsoft Corp.
Motorola Inc.
Royal Dutch Petroleum Co.- ADR?s
Schering-Plough Corp.
Sprint Corp. (FON Group)
Target Corp.
Tenet Healthcare Corp.
TJX Companies Inc.
Transocean Sedco Forex Inc.
Unisys Corp.
USA Networks Inc. 
Viacom Inc.-Cl B
Wells Fargo & Co.

* * * * * * * * * * * * * * * *

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 and 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.

Home | Fund Facts | Current News | Shareholder Services | Distribution Information | Contact Us
Westcore Funds | Denver Investment Advisors