Rule 497(e)
Investment Company Act No. 811-07929
Securities Act File No. 333-16193
<PAGE>
April 29, 1997
WARBURG PINCUS STRATEGIC VALUE FUND, INC.
Supplement to the Statement of Additional Information
Dated December 31, 1996
The following information supplements the information contained in the
section of the Fund's Statement of Additional Information entitled "Investment
Objective":
Warburg will use various quantitative measures as a tool to identify
appropriate investment opportunities and the timing of sales. However, these
measures will not be applied rigidly but will be used as part of an active
portfolio management strategy.
