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: September 30, 1999
For: Z-Seven Fund, Inc.
<TABLE>
<CAPTION>
Approximate Asset Name of
Date of Number of Price Value or Approximate Seller or
Each Identification Shares Per Asset Coverage Per Share of Seller's
Transaction of Security Purchased Share at Time of Purchase Broker
- ----------- -------------- --------- ------ ------------------------ -----------
<C> <S> <C> <C> <C> <C>
09/23/99 Z-Seven 5,000 7.125 7.4871 Herzog
09/23/99 Z-Seven 15,000 7.1875 7.4871 Herzog
09/24/99 Z-Seven 5,000 7.1875 7.4116 Herzog
</TABLE>
REMARKS: None
Name of Registrant: Z-Seven Fund, Inc.
By: Aleshia Mesneak, Accountant
Statement Date: October 7, 1999
