<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1
UNDER THE INVESTMENT COMPANY ACT OF 1940
WARBURG, PINCUS SELECT ECONOMIC VALUE EQUITY FUND, INC.
_______________________________________________________
Exact Name of Registrant
<PAGE>
NOTIFICATION OF ELECTION
The undersigned registered open-end investment company hereby
notifies the Securities and Exchange Commission that it elects to commit itself
to pay in cash all redemptions by a shareholder of record as provided by Rule
18f-1 under the Investment Company Act of 1940, as amended. It is understood
that this election is irrevocable while such Rule is in effect unless the
Commission by order upon application permits the withdrawal of this Notification
of Election.
SIGNATURE
Pursuant to the requirements of Rule 18f-1 under the Investment Company
Act of 1940, as amended, the Registrant has caused this notification of election
to be duly executed on its behalf in the City of New York and the State of New
York on the 30th day of October, 1998.
Signature: WARBURG, PINCUS SELECT ECONOMIC VALUE
EQUITY FUND, INC.
(Name of Registrant)
By: /s/Eugene Grace
__________________________________
Name: Eugene Grace
Title: Vice President and Secretary
Attest: /s/Janna Manes
___________________
Name: Janna Manes
Title: Assistant Secretary
-2-
