UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-23C-1
STATEMENT BY REGISTERED CLOSED-END
INVESTMENT COMPANY WITH RESPECT TO PURCHASES OF ITS OWN
SECURITIES PURSUANT TO RULE N-23C-1 DURING THE LAST CALENDAR MONTH
REPORT FOR CALENDAR MONTH ENDING: August 31, 1997
For: Z-Seven Fund, Inc.
<TABLE>
<CAPTION>
Approximate Asset
Date of Number of Price Value or Approximate Name of Seller
Each Identification Shares Per Asset Coverage Per Share or of
Transaction of Security Purchased Share at Time of Purchase Seller's Broker
- ----------- -------------- --------- ------ ------------------------ ---------------
<C> <S> <C> <C> <C> <C>
8/13/97 Z-Seven 8,100 18.625 18.65 Herzog
8/28/97 Z-Seven 7,000 18.500 18.53 Herzog
</TABLE>
REMARKS: None
Name of Registrant: Z-Seven Fund, Inc.
By: Laurie S. Doane, Controller
Statement Date: August 29, 1997
