<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: October 31, 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 Name of Seller or
Date of each Identification Shares Price per share at time of of Seller's Broker
Transaction of Security Purchased Share purchase
------------------------------------------------------------------------------------------------------------------
<C> <S> <C> <C> <C> <C>
10/02/00 Common Stock 800 14.000 15.747 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/03/00 Common Stock 95,000 14.000 15.605 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/03/00 Common Stock 7,800 14.000 15.605 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/06/00 Common Stock 3,000 13.750 15.307 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/09/00 Common Stock 3,400 13.500 15.086 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/11/00 Common Stock 2,000 13.125 14.907 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/12/00 Common Stock 3,300 13.042 14.753 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/16/00 Common Stock 2,700 13.000 14.694 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/17/00 Common Stock 2,700 12.875 14.802 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/18/00 Common Stock 2,700 12.750 14.681 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/19/00 Common Stock 2,700 12.875 14.653 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/20/00 Common Stock 2,700 13.065 15.086 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/23/00 Common Stock 2,300 13.136 15.261 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/24/00 Common Stock 1,800 13.170 15.307 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/25/00 Common Stock 2,300 13.035 15.179 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/26/00 Common Stock 300 13.063 14.734 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/27/00 Common Stock 700 13.295 14.855 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/31/00 Common Stock 2,000 13.250 15.063 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
10/31/00 Common Stock 6,000 13.313 15.063 Weeden & Co. LP
------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
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.
-2-
