<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>4
<FILENAME>icletter.txt
<TEXT>
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

	ON INTERNAL CONTROL




Board of Directors

Cornerstone Strategic Value Fund, Inc.

New York, New York



In planning and performing our audit of the financial statements of
Cornerstone Strategic Value Fund, Inc., for the year ended
December 31, 2003, 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, not to provide assurance on internal
control.

The management of the Fund 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 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 accounting principles generally
accepted in the United States of America.    These 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 internal control
components does not reduce to a relatively low level the risk that
misstatements caused by error 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, including
controls for safeguarding securities, that we consider to be
material weaknesses, as defined above, as of December 31, 2003.


This report is intended solely for the information and use of
management and the Board of Directors and the Securities and
Exchange Commission, and is not intended to be and should not be
used by anyone other than these specified parties.




TAIT, WELLER & BAKER


Philadelphia, Pennsylvania

February 13, 2004



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