<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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: November 30, 2000
Name of Registrant: The SMALLCap Fund, Inc./TM/
By:Fran Pollack-Matz, Secretary
<TABLE>
<CAPTION>
Approximate Asset
Value or approximate
Number of asset coverage per
Date of each Identification Shares Price per share at time of Name of Seller or
Transaction of Security Purchased Share purchase of Seller's Broker
------------------------------------------------------------------------------------------------------------------------
<C> <S> <C> <C> <C> <C>
11/01/00 Common Stock 2000 13.250 15.496 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/02/00 Common Stock 1,000 13.375 15.419 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/03/00 Common Stock 5,000 13.500 15.859 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/03/00 Common Stock 2.000 13.438 15.859 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/07/00 Common Stock 1,900 13.563 15.550 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/08/00 Common Stock 600 13.688 15.679 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/08/00 Common Stock 10,000 13.625 15.679 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/09/00 Common Stock 1,000 13.750 15.557 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/10/00 Common Stock 1,900 13.500 15.321 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/13/00 Common Stock 1,900 13.250 14.845 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/13/00 Common Stock 15,000 13.250 14.845 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/15/00 Common Stock 500 13.188 15.003 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/20/00 Common Stock 900 13.188 14.716 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/21/00 Common Stock 1,800 13.063 14.307 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/27/00 Common Stock 1,700 11.099 14.453 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
11/28/00 Common Stock 20,000 11.250 12.527 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------------
</TABLE>