UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form. Please
print or type.
1. Name and address of issuer:
The Gabelli Value Fund Inc.
One Corporate Center
Rye, New York 10580-1434
2. The name of each series or class of securities for which
this Form is filed (If the Form is being filed for all series and
classes of securities of the issuer, check the box but do not
list series or classes): X
3. Investment Company Act File Number:
811-5848
Securities Act File Number:
33-30139
4(a). Last day of fiscal year for which this Form is filed:
December 31, 1998
4(b). ____ Check box if this Form is being filed late (i.e.,
more than 90 calendar days after the end of the issuer's fiscal
year). (See Instruction A.2)
Note: If the Form is being filed late, interest must be paid on
the registration fee due.
4(c). ____ Check box if this is the last time the issuer will be
filing this Form.
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the
fiscal year pursuant to section 24(f): $370,928,812
(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: $370,928,812
(iii) Aggregate price of securities redeemed or
repurchased during any prior fiscal year ending
no earlier than October 11, 1995 that were not
previously used to reduce registration fees
payable to the Commission: $0
(iv) Total available redemption credits
[add Items 5(ii) and 5(iii)]: $370,928,812
(v) Net sales - if Item 5(i) is greater than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]: $0
(vi) Redemption credits available for use in future years
- if Item 5(i) is less than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]: $(0)
(vii) Multiplier for determining registration fee
(See Instruction C.9): x.000278
(viii) Registration fee due [multiply Item 5(v)
by Item 5(vii)] (enter "0" if no fee is due): = 0
6. Prepaid Shares
If the response to Item 5(i) was determined by deducting an
amount of securities that were registered under the Securities
Act of 1933 pursuant to rule 24e-2 as in effect before
October 11, 1997, then report the amount of securities (number of
shares or other units) deducted here: 7,640,015. If there is a
number of shares or other units that were registered pursuant to
rule 24e-2 remaining unsold at the end of the fiscal year for
which this Form is filed that are available for use by the issuer
in future fiscal years, then state that number here: 86,801,598.
7. Interest due - if this Form is being filed more than 90
days after
the end of the issuer's fiscal year (see instruction D):
+$0
8. Total of the amount of the registration fee due plus any
interest due
[line 5(viii) plus line 7]: =$0
9. Date the registration fee and any interest payment was sent
to the
Commission's lockbox depository:
Method of Delivery:
__ Wire Transfer
____ Mail or other means
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