<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
015 B000016 S
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015 E040016 X
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015 B000017 S
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 12
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SIGNATURE PAUL SCHUBERT
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880943
<NAME> STRATEGIC GLOBAL INCOME FUND, INC.
<SERIES>
<NUMBER> 1
<NAME> STRATEGIC GLOBAL INCOME FUND, INC.
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> NOV-30-1998
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<INVESTMENTS-AT-VALUE> 280472
<RECEIVABLES> 6579
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<SHARES-COMMON-STOCK> 21150
<SHARES-COMMON-PRIOR> 21407
<ACCUMULATED-NII-CURRENT> (3134)
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<ACCUMULATED-NET-GAINS> (489)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1799)
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</TABLE>
BY-LAWS AMENDMENT
RESOLVED: That Sections 9 and 10 of
Article II of the
Fund's By-Laws be, and they hereby are,
amended to read
as follows:
Section 9. NOMINATION. Subject to the
rights of
holders of any class or series of stock
having a preference
over the Corporation's common stock as to
dividends or
upon liquidation, nominations for the
election of directors
may be made by the Board of Directors or a
committee
appointed by the Board of Directors or by
any stockholder
who is entitled to vote for the election
of directors.
However, any such stockholder may nominate
a director
only by notice in writing delivered or
mailed by first class
United States mail, postage prepaid, to
the Secretary of the
Corporation, and received by the Secretary
not less than
(i) with respect to any nomination to be
introduced at an
annual meeting of stockholders, one
hundred and twenty
days in advance of the anniversary of the
date the
Corporation's proxy statement was first
released to
stockholders in connection with the
previous year's annual
meeting, and (ii) with respect to any
nomination to be
introduced at a special meeting of
stockholders, the close of
business on the seventh day following the
date on which
notice of such meeting is first given to
stockholders. Each
such notice shall set forth: (a) the name
and address of the
stockholder who intends to make the
nomination and of the
person or persons to be nominated; (b) a
representation that
the stockholder is a holder of record or
beneficial owner of
stock of the Corporation entitled to vote
at such meeting
(together with such proof thereof as would
meet the
requirements for proposals that are to be
included in the
Corporation's proxy statements pursuant to
Rule 14a-8
under the Securities Exchange Act of 1934,
as amended, or
any successor to such Rule) and intends to
appear in person
or by proxy at the meeting to nominate the
person or
persons specified in the notice; (c) the
class and number of
shares of stock held of record, owned
beneficially and
represented by proxy by such stockholder
as of the record
date for the meeting (if such date shall
then have been made
publicly available) and as of the date of
such notice. The
chairperson of the meeting may refuse to
acknowledge a
nomination by any stockholder that is not
made in
compliance with the foregoing procedure.
Section 10. STOCKHOLDER PROPOSAL. Any
stockholder who is entitled to vote in the
election of
directors may submit to the Board of
Directors proposals to
be considered for submission to the
stockholders of the
Corporation for their vote. The
introduction of any
stockholder proposal that the Board of
Directors decides
should be voted on by the stockholders of
the Corporation,
shall be made by notice in writing
delivered or mailed by
first class United States mail, postage
prepaid, to the
Secretary of the Corporation, and received
by the Secretary
not less than (i) with respect to any
proposal to be
introduced at an annual meeting of
stockholders, one
hundred and twenty days in advance of the
anniversary of
the date the Corporation's proxy statement
was first
released to stockholders in connection
with the previous
year's annual meeting, and (ii) with
respect to any proposal
to be introduced at a special meeting of
stockholders, the
close of business on the seventh day
following the date on
which notice of such meeting is first
given to stockholders.
Each such notice shall set forth: (a) the
proposal to be
introduced; (b) the name and address of
the stockholder
who intends to make the proposal; (c) a
representation that
the stockholder is a holder of record or
beneficial owner of
stock of the Corporation entitled to vote
at such meeting
(together with such proof thereof as would
meet the
requirements for proposals that are to be
included in the
Corporation's proxy statements pursuant to
Rule 14a-8
under the Securities Exchange Act of 1934,
as amended, or
any successor to such Rule) and intends to
appear in person
or by proxy at the meeting to introduce
the proposal or
proposals, specified in the notice; and
(d) the class and
number of shares of stock held of record,
owned beneficially
and represented by proxy by such
stockholder as of the
record date for the meeting (if such date
shall then have
been made publicly available) and as of
the date of such
notice. The chairperson of the meeting may
refuse to
acknowledge the introduction of any
stockholder proposal
not made in compliance with the foregoing
procedure.
Strategic Global Income Fund
N-SAR Exhibits
Item 77Q
At a Board of Directors meeting held on
November
11, 1998, the directors approved an
amendment to the by-laws concerning
submission
of shareholder proposals. The
amendment to the by-laws is attached.
Report of Independent Auditors
To the Shareholders and Board of Directors
of
Strategic Global Income Fund, Inc.
In planning and performing our audit of
the
financial statements of Strategic Global
Income
Fund, Inc.
for the year ended November 30, 1998, we
considered its internal control, including
control activities
for safeguarding securities, in order to
determine our auditing procedures for the
purpose of expressing
our opinion on the financial statements
and to
comply with the requirements of Form N-
SAR, and
not
to provide assurance on the internal
control.
The management of Strategic Global Income
Fund,
Inc. is responsible for establishing and
maintaining
internal control. In fulfilling this
responsibility, estimates and judgments by
management are required
to assess the expected benefits and
related
costs of controls. Generally, controls
that are
relevant to an
audit pertain to the entity's objective of
preparing financial statements for
external
purposes that are
fairly presented in conformity with
generally
accepted accounting principles. Those
controls
include
the safeguarding of assets against
unauthorized
acquisition, use or disposition.
Because of inherent limitations in
internal
control, errors or fraud may occur and not
be
detected. Also,
projection of any evaluation of internal
control
to future periods is subject to the risk
that it
may become
inadequate because of changes in
conditions or
that the effectiveness of the design and
operation may
deteriorate.
Our consideration of internal control
would not
necessarily disclose all matters in
internal
control that
might be material weaknesses under
standards
established by the American Institute of
Certified Public
Accountants. A material weakness is a
condition
in which the design or operation of one or
more
of the
specific internal control components does
not
reduce to a relatively low level the risk
that
errors or
fraud in amounts that would be material in
relation to the financial statements being
audited may occur
and not be detected within a timely period
by
employees in the normal course of
performing
their
assigned functions. However, we noted no
matters involving internal control and its
operation,
including controls for safeguarding
securities,
that we consider to be material weaknesses
as
defined
above at November 30, 1998.
This report is intended solely for the
information and use of the board of
directors
and management of
Strategic Global Income Fund, Inc. and the
Securities and Exchange Commission and is
not
intended
to be and should not be used by anyone
other
than these specified parties.
ERNST & YOUNG LLP
January 20, 1999
