May 9, 1996
VIA EDGARLINK
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549
Re: JP Capital Appreciation Fund, Inc. File No. 2-78854
Dear Commissioners:
On behalf of JP Capital Appreciation Fund, Inc. (the "Fund"),
I hereby certify, pursuant to paragraph (j) of Rule 497 under the
Securities Act of 1933, that the form of prospectus and Statement
of Additional Information ("SAI") for the Fund otherwise required
to be filed under paragraph (c) of Rule 497 would not differ from
the form of prospectus and SAI contained in Post-Effective Amendment
No. 24 to the Form N-1A registration statement for the Fund which
was filed electronically on May 3, 1996.
Sincerely,
/s/ J. Gregory Poole
