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SIGNATURE EDWARD J. VEILLEUX
TITLE VICE PRESIDENT
<TABLE> <S> <C>
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<CIK> 0000813623
<NAME> SWISS HELVETIA FUND, INC
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Amendment of By-Laws
On May 12, 1998, the Board of Directors of the Fund amended its By-Laws to add a
new Section 10 to Article I, as set forth in Exhibit 1, attached hereto, adding
certain requirements of advance notice of any stockholder proposals to be
considered at any annual or special meeting of stockholders.
<PAGE>
Exhibit 1
SECTION 10. Advance Notice of Stockholder Nominees for
Director and Other Stockholder Proposals.
(a) The matters to be considered and brought before any annual
or special meeting of stockholders of the Corporation shall be
limited to only such matters, including the nomination and
election of directors, as shall be brought properly before
such meeting in compliance with the procedures set forth in
this Section 10.
<PAGE>
(b) For any matter to be properly before any annual meeting of
stockholders, the matter must be (i) specified in the notice
of annual meeting given by or at the direction of the Board of
Directors, (ii) otherwise brought before the annual meeting by
or at the direction of the Board of Directors or (iii) brought
before the annual meeting in the manner specified in this
Section 10(b) by a stockholder of record or a stockholder (a
"Nominee Holder") that holds voting securities entitled to
vote at meetings of stockholders through a nominee or "street
name" holder of record and can demonstrate to the Corporation
such indirect ownership and such Nominee Holder's entitlement
to vote such securities. In addition to any other requirements
under applicable law and the Certificate of Incorporation and
By-Laws of the Corporation, persons nominated by stockholders
for election as directors of the Corporation and any other
proposals by stockholders shall be properly brought before the
meeting only if notice of any such matter to be presented by a
stockholder at such meeting of stockholders (the "Stockholder
Notice") shall be delivered to the Secretary of the
Corporation at the principal executive office of the
Corporation not less than 60 nor more than 90 days prior to
the first anniversary date of the annual meeting for the
preceding year; provided, however, if and only if the annual
meeting is not scheduled to be held within a period that
commences 30 days before such anniversary date and ends 30
days after such anniversary date (an annual meeting date
outside such period being referred to herein as an "Other
Annual Meeting Date"), such Stockholder Notice shall be given
in the manner provided herein by the later of the close of
business on (i) the date 60 days prior to such Other Meeting
Date or (ii) the 10th day following the date such Other Annual
Meeting Date is first publicly announced or disclosed. Any
stockholder desiring to nominate any person or persons (as the
case may be) for election as a director or directors of the
Corporation shall deliver, as part of such Stockholder Notice:
(i) a statement in writing setting forth (A) the name of the
person or persons to be nominated, (B) the number and class of
all shares of each class of stock of the Corporation owned of
record and beneficially by each such person, as reported to
such stockholder by such nominee(s), (C) the information
regarding each such person required by paragraphs (a), (e) and
(f) of Item 401 of Regulation S-K or paragraph (b) of Item 22
of Rule 14a-101 under the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), adopted by the Securities and
Exchange Commission (or the corresponding provisions of any
regulation or rule subsequently adopted by the Securities and
Exchange Commission applicable to the Corporation), (D)
whether such stockholder believes any nominee will be an
"interested person" of the Corporation (as defined in the
Investment Company Act of 1940, as amended) and, if not an
"interested person," information regarding each nominee that
will be sufficient for the Corporation to make such
determination, and (E) the number and class of all shares of
each class of stock of the Corporation owned of record and
beneficially by such stockholder; (ii) each such person's
signed consent to serve as a director of the Corporation if
elected and such stockholder's name and address; and, (iii) in
the case of a Nominee Holder, evidence establishing such
Nominee Holder's indirect ownership of, and entitlement to
vote, securities at the meeting of stockholders. Any
stockholder who gives a Stockholder Notice of any matter
proposed to be brought before the meeting (not involving
nominees for director) shall deliver, as part of such
Stockholder Notice, the text of the proposal to be presented
and a brief written statement of the reasons why such
stockholder favors the proposal and setting forth such
stockholder's name and address, the number and class of all
shares of each class of stock of the Corporation owned of
record and beneficially by such stockholder, if applicable,
any material interest of such stockholder in the matter
proposed (other than as a stockholder) and, in the case of a
Nominee Holder, evidence establishing such Nominee Holder's
indirect ownership of, and entitlement to vote, securities at
the meeting of stockholders. As used herein, shares
"beneficially owned" shall mean all shares which such person
is deemed to beneficially own pursuant to Rules 13d-3 and
13d-5 under the Exchange Act.
Notwithstanding anything in this Section 10(b) to the
contrary, in the event that the number of directors to be
elected to the Board of Directors of the Corporation is
increased and either all of the nominees for director or the
size of the increased Board of Directors are not publicly
announced or disclosed by the Corporation at least 70 days
prior to the first anniversary of the preceding year's annual
meeting, a Stockholder Notice shall also be considered timely
hereunder, but only with respect to nominees for any new
positions created by such increase, if it shall be delivered
to the Secretary of the Corporation at the principal executive
office of the Corporation not later than the close of business
on the 10th day following the first date all of such nominees
or the size of the increased Board of Directors shall have
been publicly announced or disclosed.
<PAGE>
(c) Only such matters shall be properly brought before a
special meeting of stockholders as shall have been brought
before the meeting pursuant to the Corporation's notice of
meeting. In the event the Corporation calls a special meeting
of stockholders for the purpose of electing one or more
directors to the Board of Directors, any stockholder may
nominate a person or persons (as the case may be), for
election to such position(s) as specified in the Corporation's
notice of meeting, if the Stockholder Notice required by
Section 10(b) hereof shall be delivered to the Secretary of
the Corporation at the principal executive office of the
Corporation not later than the close of business on the 10th
day following the day on which the date of the special meeting
and of the nominees proposed by the Board of Directors to be
elected at such meeting is publicly announced or disclosed.
(d) For purposes of this Section 10, a matter shall be deemed
to have been "publicly announced or disclosed" if such matter
is disclosed in a press release reported by the Dow Jones News
Service, Associated Press or comparable national news service
or in a document publicly filed by the Corporation with the
Securities and Exchange Commission.
(e) In no event shall the adjournment of an annual meeting, or
any announcement thereof, commence a new period for giving of
notice as provided in this Section 10. This Section 10 shall
not apply to stockholder proposals made pursuant to Rule 14a-8
under the Exchange Act.
(f) The person presiding at any meeting of stockholders, in
addition to making any other determinations that may be
appropriate to the conduct of the meeting, shall have the
power and duty to determine whether notice of nominees and
other matters proposed to be brought before a meeting has been
duly given in the manner provided in this Section 10 and, if
not so given, shall direct and declare at the meeting that
such nominees and other matters shall not be considered.
