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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
(See rules and instructions on back of this form.
If acknowledgment is desired, file this form with the Commission
in triplicate.)
REPORT FOR CALENDAR MONTH ENDING: September 30, 2000
Morgan Grenfell SMALLCap Fund, Inc.
(Name of registered closed-end investment company)
_____________________________________________________________________________
<TABLE>
<CAPTION>
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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
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<C> <S> <C> <C> <C> <C>
09/01/00 Common Stock 6,000 13.4375 15.632 Weeden & Co. LP
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09/05/00 Common Stock 13,900 13.6848 15.897 Weeden & Co. LP
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09/06/00 Common Stock 13,900 13.5940 15.636 Weeden & Co. LP
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09/06/00 Common Stock 15,000 13.5625 15.636 Weeden & Co. LP
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09/07/00 Common Stock 9,900 13.5000 15.618 Weeden & Co. LP
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09/08/00 Common Stock 8,400 13.4345 15.851 Weeden & Co. LP
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09/11/00 Common Stock 10,000 13.5625 15.692 Weeden & Co. LP
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09/11/00 Common Stock 14,400 13.5625 15.692 Weeden & Co. LP
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09/12/00 Common Stock 12,000 13.4792 15.533 Weeden & Co. LP
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09/12/00 Common Stock 7,000 13.5000 15.533 Weeden & Co. LP
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09/13/00 Common Stock 13,600 13.4375 15.436 Weeden & Co. LP
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09/14/00 Common Stock 14,300 13.5297 15.512 Weeden & Co. LP
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09/15/00 Common Stock 400 13.5000 15.671 Weeden & Co. LP
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09/18/00 Common Stock 14,300 13.4624 15.498 Weeden & Co. LP
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09/19/00 Common Stock 13,900 13.2419 15.039 Weeden & Co. LP
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09/19/00 Common Stock 8,200 13.1875 15.039 Weeden & Co. LP
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09/20/00 Common Stock 16,200 13.3318 15.160 Weeden & Co. LP
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09/20/00 Common Stock 10,000 13.3750 15.160 Weeden & Co. LP
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</TABLE>
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<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>
09/21/00 Common Stock 2,500 13.3125 15.086 Weeden & Co. LP
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09/22/00 Common Stock 1,600 13.2500 15.039 Weeden & Co. LP
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09/25/00 Common Stock 200 13.0625 15.182 Weeden & Co. LP
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09/27/00 Common Stock 200 13.2500 15.276 Weeden & Co. LP
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09/28/00 Common Stock 6,000 13.349 15.328 Weeden & Co. LP
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09/28/00 Common Stock 5,000 13.313 15.328 Weeden & Co. LP
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09/29/00 Common Stock 1,000 13.625 15.750 Weeden & Co. LP
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</TABLE>
REMARKS:
Morgan Grenfell SMALLCap Fund, Inc.
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Name of Registrant
By:Fran Pollack-Matz, Secretary
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RULES AND INSTRUCTIONS FOR
FORM N-23-C-1
1. Use of Form. - Form N-23C-1 is prescribed for use by registered
closed-end investment companies in reporting purchases of securities
of which they are the issuers, pursuant to Section 23(c)(3) of the
Investment Company Act of 1940 and Rule N-23C-1 thereunder. A
statement on this form must be filed for every month during which any
such purchase is made. No statement need be filed for any month in
which there have been no such purchases.
2. Time for Filing Statements. - Statements on this form shall be filed
in duplicate with the Commission on or before the 10th day of the
calendar month following that in which the purchase occurred. A
statement will be deemed to have been filed with the Commission on the
date it is received.
3. Exhibits. - If the space provided for listing purchases is
insufficient, separate sheets of the same size as the form should be
used and attached to the form as exhibits. Each such sheet should be
identified at the top as follows: "Exhibit No. __ referring to report
on Form N-23C-1 dated ___." Appropriate reference to any such
exhibits should also be made in the space provided in the form itself
for listing purchases.
4. Explanatory Matter. - Statements may contain, under the heading
"Remarks," any additional explanations as to the purchases that are
deemed relevant by the registrant.
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