<PAGE> PAGE 1
000 B000000 10/31/1999
000 C000000 0001002651
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 WARBURG PINCUS SMALL COMPANY VALUE FUND, INC
001 B000000 811-07375
001 C000000 3027911640
002 A000000 400 BELLEVUE PARKWAY
002 B000000 WILMINGTON
002 C000000 DE
002 D010000 19809
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 CREDIT SUISSE ASSET MANAGEMENT, LLC
008 B000001 A
008 C000001 801-37170
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10022
010 A000001 PFPC, INC.
010 B000001 85-1196
010 C010001 WILMINGTON
010 C020001 DE
010 C030001 19809
010 A000002 COUNSELLORS FUNDS SERVICE, INC.
010 B000002 801-00000
010 C010002 NEW YORK
010 C020002 NY
010 C030002 10017
012 A000001 BOSTON FINANCIAL DATA SERVICES
012 B000001 84-00896
012 C010001 QUINCY
<PAGE> PAGE 2
012 C020001 MA
012 C030001 02171
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 PHILADELPHIA
013 B020001 PA
013 B030001 19103
013 B040001 2962
015 A000001 STATE STREET BANK & TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E040001 X
015 A000002 PFPC TRUST COMPANY
015 B000002 C
015 C010002 PHILADELPHIA
015 C020002 PA
015 C030002 19103
015 E020002 X
018 000000 Y
019 A000000 Y
019 B000000 50
019 C000000 WARBURG PI
020 A000001 WEEDEN AND COMPANY LP
020 B000001 13-3364318
020 C000001 32
020 A000002 CAPITAL INSTITUTIONAL SERVICES, INC.
020 B000002 75-1565705
020 C000002 28
020 A000003 BAIRD (ROBERT) & CO., INC.
020 B000003 39-6037917
020 C000003 20
020 A000004 JEFFRIES & CO., INC.
020 B000004 95-2622900
020 C000004 17
020 A000005 OPPENHEIMER & CO., INC.
020 B000005 13-2798343
020 C000005 15
020 A000006 BEAR, STEARNS & CO., INC.
020 B000006 13-3299429
020 C000006 14
020 A000007 PAINEWEBBER INC.
020 B000007 13-2638166
020 C000007 14
020 A000008 LEHMAN BROTHERS INC.
020 B000008 13-2518466
020 C000008 14
020 A000009 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000009 13-5674085
020 C000009 13
020 A000010 GOLDMAN, SACHS & CO.
<PAGE> PAGE 3
020 B000010 13-5108880
020 C000010 11
021 000000 424
022 A000001 STATE STREET BANK & TRUST CO.
022 B000001 04-1867445
022 C000001 138374
022 D000001 0
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000002 13-5674085
022 C000002 44516
022 D000002 0
022 A000003 GOLDMAN, SACHS & CO.
022 B000003 13-5108880
022 C000003 12497
022 D000003 1344
022 A000004 BROWN (ALEC) & SONS INC.
022 B000004 52-1319768
022 C000004 1189
022 D000004 4636
022 A000005 JEFFERIES AND COMPANY
022 B000005 95-2622900
022 C000005 2206
022 D000005 3090
022 A000006 COWEN AND COMPANY
022 B000006 13-5616116
022 C000006 1873
022 D000006 2394
022 A000007 MONTGOMERY SECURITIES
022 B000007 94-1701676
022 C000007 1342
022 D000007 2614
022 A000008 CS FIRST BOSTON CORP.
022 B000008 13-5659485
022 C000008 2097
022 D000008 1641
022 A000009 SMITH BARNEY INC.
022 B000009 13-1912900
022 C000009 1729
022 D000009 1867
022 A000010 HERZOG, HEINE, GEDULD, INC.
022 B000010 13-1955436
022 C000010 452
022 D000010 2970
023 C000000 260929
023 D000000 79525
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
<PAGE> PAGE 4
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 3843
028 A020000 0
028 A030000 0
028 A040000 6393
028 B010000 1278
028 B020000 0
028 B030000 0
028 B040000 3165
028 C010000 835
028 C020000 0
028 C030000 0
028 C040000 2642
028 D010000 2628
028 D020000 0
028 D030000 0
028 D040000 3135
028 E010000 923
028 E020000 0
028 E030000 0
028 E040000 2878
028 F010000 285
028 F020000 0
028 F030000 0
028 F040000 2286
028 G010000 9792
028 G020000 0
028 G030000 0
028 G040000 20499
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
<PAGE> PAGE 5
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 116
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
053 B000000 Y
053 C000000 N
054 A000000 Y
<PAGE> PAGE 6
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 N
054 I000000 N
054 J000000 N
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 2500
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
<PAGE> PAGE 7
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 N
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 76074
071 B000000 117883
071 C000000 45128
071 D000000 169
072 A000000 12
072 B000000 102
072 C000000 357
072 D000000 0
072 E000000 0
072 F000000 464
072 G000000 95
072 H000000 0
<PAGE> PAGE 8
072 I000000 132
072 J000000 39
072 K000000 0
072 L000000 14
072 M000000 13
072 N000000 45
072 O000000 0
072 P000000 2
072 Q000000 0
072 R000000 11
072 S000000 31
072 T000000 116
072 U000000 15
072 V000000 0
072 W000000 14
072 X000000 991
072 Y000000 178
072 Z000000 -354
072AA000000 15547
072BB000000 11754
072CC010000 0
072CC020000 4750
072DD010000 0
072DD020000 0
072EE000000 2282
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.4300
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 150
074 D000000 0
074 E000000 0
074 F000000 26963
074 G000000 0
074 H000000 0
074 I000000 3389
074 J000000 3069
074 K000000 0
074 L000000 106
074 M000000 17
074 N000000 33694
074 O000000 3271
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1192
074 S000000 0
<PAGE> PAGE 9
074 T000000 29231
074 U010000 2342
074 U020000 2
074 V010000 12.47
074 V020000 12.35
074 W000000 0.0000
074 X000000 1603
074 Y000000 0
075 A000000 0
075 B000000 46441
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 Y
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 VIGILANT INSURANCE COMPANY
080 B000000 N/A
080 C000000 20000
081 A000000 Y
081 B000000 37
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
<PAGE> PAGE 10
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE MARY JANE MALONEY
TITLE MANAGER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001002651
<NAME> WARBURG PINCUS SMALL COMPANY VALUE FUND
<SERIES>
<NUMBER> 001
<NAME> COMMON CLASS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 28355482
<INVESTMENTS-AT-VALUE> 30501797
<RECEIVABLES> 3174457
<ASSETS-OTHER> 17363
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33693617
<PAYABLE-FOR-SECURITIES> 3271423
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1191206
<TOTAL-LIABILITIES> 4462629
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 23795291
<SHARES-COMMON-STOCK> 2342126
<SHARES-COMMON-PRIOR> 5999492
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3289382
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2146315
<NET-ASSETS> 29230988
<DIVIDEND-INCOME> 356518
<INTEREST-INCOME> 102147
<OTHER-INCOME> 0
<EXPENSES-NET> (812832)
<NET-INVESTMENT-INCOME> (354167)
<REALIZED-GAINS-CURRENT> 3792545
<APPREC-INCREASE-CURRENT> (4750334)
<NET-CHANGE-FROM-OPS> (1311956)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (2280474)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30585137
<NUMBER-OF-SHARES-REDEEMED> (80265308)
<SHARES-REINVESTED> 2154348
<NET-CHANGE-IN-ASSETS> 51139907
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1778991
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 464414
<INTEREST-EXPENSE> 1803
<GROSS-EXPENSE> 990908
<AVERAGE-NET-ASSETS> 46441419
<PER-SHARE-NAV-BEGIN> 13.39
<PER-SHARE-NII> (.15)
<PER-SHARE-GAIN-APPREC> (.34)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.43)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.47
<EXPENSE-RATIO> 1.76
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001002651
<NAME> WARBURG PINCUS SMALL COMPANY VALUE FUND
<SERIES>
<NUMBER> 002
<NAME> ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 28355482
<INVESTMENTS-AT-VALUE> 30501797
<RECEIVABLES> 3174457
<ASSETS-OTHER> 17363
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33693617
<PAYABLE-FOR-SECURITIES> 3271423
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1191206
<TOTAL-LIABILITIES> 4462629
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 23795291
<SHARES-COMMON-STOCK> 2451
<SHARES-COMMON-PRIOR> 3953
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3289382
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2146315
<NET-ASSETS> 29230988
<DIVIDEND-INCOME> 356518
<INTEREST-INCOME> 102147
<OTHER-INCOME> 0
<EXPENSES-NET> (812832)
<NET-INVESTMENT-INCOME> (354167)
<REALIZED-GAINS-CURRENT> 3792545
<APPREC-INCREASE-CURRENT> (4750334)
<NET-CHANGE-FROM-OPS> (1311956)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1680)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32369
<NUMBER-OF-SHARES-REDEEMED> (53689)
<SHARES-REINVESTED> 1346
<NET-CHANGE-IN-ASSETS> 51139907
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1778991
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 464414
<INTEREST-EXPENSE> 1803
<GROSS-EXPENSE> 990908
<AVERAGE-NET-ASSETS> 46441419
<PER-SHARE-NAV-BEGIN> 13.30
<PER-SHARE-NII> (.18)
<PER-SHARE-GAIN-APPREC> (.34)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.43)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.35
<EXPENSE-RATIO> 2.01
</TABLE>
EXHIBIT INDEX
EXHIBIT A:
Attachment to item 77B:
Accountants report on internal control
EXHIBIT B:
Attachment to item 77C: Submission of matters to a vote of
Security holders.
EXHIBIT C:
Attachment to item 77H: Changes in control of Registrant.
EXHIBIT D:
Attachment to item 77Q1: New Investment Advisory Agreement
- ------------------------------------------------------------------
EXHIBIT A
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors and Shareholders
of Warburg, Pincus Small Company Value Fund, Inc.:
In planning and performing our audit of the financial statements
and financial highlights of Warburg, Pincus Small Company Value
Fund, Inc. (the "Fund") for the year ended October 31, 1999, we
considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and financial highlights and to comply with
the requirements of Form N-SAR, not to provide assurance on
internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgements by management are required to assess the
expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements and financial
highlights for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those
controls include the safeguarding of assets against unauthorised
acquisition, use or disposition.
Because of inherent limitations in internal controls, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of one or more of the
internal control components does not reduce to a relatively low
level the risk that misstatements caused by errors or fraud in
amounts that would be material in relation to the financial
statements and financial highlights being audited may occur and
not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted
no matters involving internal control and its operation,
including controls over safeguarding securities, that we consider
to be material weaknesses as defined above as of October 31,
1999.
This report is intended solely for the information and use of
management, the Board of Directors of the Fund, and the
Securities and Exchange Commission.
PricewaterhouseCoopers LLP
December 10, 1999
EXHIBIT B:
Sub-Item 77C: Submission of matter to a vote of security holders
(a) A special meeting was held on May 21, 1999.
(b) At the special meeting held on May 21, 1999, the
following persons were elected as directors of the Fund,
constituting the entire Board of Directors: Richard H. Francis,
Jack W. Fritz, Jeffrey E. Garten, James S. Pasman, Jr., William
W. Priest, Steven N. Rappaport, Arnold M. Reichman, Alexander B.
Trowbridge.
(c) At the special meeting held on May 21, 1999,
shareholders of the Fund were asked to approve a new investment
advisory agreement between the Fund and Credit Suisse Asset
Management, LLC.
The new investment advisory agreement was approved by
shareholders and the shareholder vote was as follows:
Total Number of Votes Percentage of total
number of shares
outstanding
Approve 2,396,996.6691 65.82%
Disapprove 46,560.6670 1.28%
Abstain 37,169.4269 1.02%
(d) Not applicable
EXHIBIT C:
Sub-Item 77H: Changes in control of registrant
(a) On July 6, 1999, Credit Suisse Group acquired Warburg
Pincus Asset Management, Inc. ("Warburg Pincus"), the Fund's
former investment adviser. Warburg Pincus was combined with
Credit Suisse Group's existing U.S. asset management business,
Credit Suisse Asset Management, LLC, which is an indirect wholly-
owned U.S. subsidiary of Credit Suisse Group. Credit Suisse
Group may be deemed to control the Fund on the basis of its
control of Credit Suisse Asset Management, LLC, the Fund's
current investment adviser.
(b) On July 6, 1999, Warburg, Pincus & Co., formerly the
ultimate parent of Warburg Pincus, ceased to be a controlling
person of the Fund as a result of the transactions described in
Sub-Item 77H(a).
EXHIBIT D:
Sub-Item 77Q1: Exhibits
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Not applicable
(e) New Investment Advisory Agreement
(f) Not applicable
(g) Not applicabl