SUPPLEMENT TO THE PROSPECTUS OF
KEELEY SMALL CAP VALUE FUND, INC.
DATED JANUARY 29, 1998
This Supplement provides new information with respect to the KEELEY Small Cap
Value Fund beyond that contained in the Prospectus and should be retained and
read in conjunction with the Prospectus.
1. Item "p" under "Sales at Net Asset Value" on page 13 of the Prospectus is
amended to read as follows:
(p) sales to broker-dealers who conduct their business with their customers
principally through the Internet and who do not have registered
representatives who actively solicit those customers to purchase securities,
including shares of the Fund; and
2. The following has been added to the paragraph under "Sales at Net Asset
Value" on page 13 of the Prospectus:
(q) sales through a broker-dealer to its customer under an arrangement in
which the customer pays the broker-dealer a fee based on the value of the
account, in lieu of transaction based brokerage fees.
The date of this Supplement is June 5, 1998
