BLUE CHIP VALUE FUND, INC. (the "Fund")
Form N-SAR
Semi-Annual Period ended June 30, 2000
SUB-ITEM 77K - Changes in Registrant's certifying accountants
On February 8, 2000, Ernst & Young LLP ("Ernst & Young") Resigned
as the Fund's independent auditors. During the Fund's two most
recent fiscal years ended December 31, 1999and 1998, Ernst &
Young's reports on the Fund's financial statements contained no
adverse opinion or disclaimer of opinion, nor were they qualified
or modified as to uncertainty, audit scope, or accounting
principles. During the Fund's two most recent fiscal years ended
December 31, 1999 and 1998 and the interim period commencing
January 1, 2000 and ending February 8, 2000, there were no
disagreements with Ernst & Young on any matter of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreements, if not resolved
to the satisfaction of Ernst & Young, would have caused it to
make reference to the subject matter of the disagreement in
connection with its report on the financial statements for such
years. During the Fund's two most recent fiscal years and the
subsequent\interim period ended February 8, 2000, there were no
events of the kind described in Item 304(a)(1)(v) of Regulation S-
K under the Securities Exchange Act of 1934.
On February 8, 2000, after recommendation by the Board's Audit
Committee, the Fund, by action of its Board of Directors,
including a majority of the members of the Board of Directors who
are not "interested persons" of the Fund (as that term is defined
in the 1940 Act), selected Deloitte & Touche LLP ("Deloitte &
Touche") as the independent auditors to audit the Fund's
financial statements for the fiscal year ending December 31,
2000. During the Fund's two most recent fiscal years ended
December 31, 1999 and 1998 and the subsequent interim period
ended February 8, 2000, neither the Fund nor anyone on its behalf
has consulted Deloitte & Touche on items which (i) concerned the
application of accounting principles to a specified transaction,
either completed or proposed, or the type of audit opinion that
might be rendered on the Fund's financial statements, or (ii)
concerned the subject of a disagreement (as defined in paragraph
(a)(1)(iv) of Item 304 of Regulation S-K) or reportable events
(as described in paragraph (a)(1)(v) of said Item 304).
The Fund has requested that Ernst & Young furnish it with a
letter addressed to the Securities and Exchange Commission
stating whether Ernst & Young agrees with the statements
contained above. A copy of the letter from Ernst & Young to the
Securities and Exchange Commission is filed as an exhibit hereto.
