<PAGE>
April 30, 1998
VIA EDGAR
Securities and Exchange Commission
Filing Desk
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: CGM Capital Development Fund
1933 Act File No. 2-16252
1940 Act File No. 811-933
Ladies and Gentlemen:
Pursuant to Rule 497(j) under the Securities Act of 1933, as amended
(the "1933 Act"), CGM Capital Development Fund, a Massachusetts business trust
(the "Trust") hereby certifies as follows:
(1) the form of Prospectus and Statement of Additional Information for
CGM Capital Development Fund that would have been filed pursuant to
Rule 497(c) under the 1933 Act would not have differed from that
contained in Post-Effecive Amendment No. 63 to the above referenced
Registration Statement on Form N-1A (the "Registration Statement"),
which constitutes the most recent amendment to the Registration
Statement; and
(2) the text of Post-Effective Amendment No. 63 to the Registration
Statement was filed electronically with the Securities and Exchange
Commission on April 24, 1998.
Sincerely,
CGM Capital Development Fund
By /s/Frank N. Strauss
--------------------
Frank N. Strauss
Treasurer
cc: Robert L. Kemp
Leslie A. Lake
Jean O'Neil
Edward T. O'Dell, P.C.
Regina M. Pisa, P.C.
