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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000909012-04-000380.txt : 20040520
<SEC-HEADER>0000909012-04-000380.hdr.sgml : 20040520
<ACCEPTANCE-DATETIME>20040520155629
ACCESSION NUMBER:		0000909012-04-000380
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20040520
EFFECTIVENESS DATE:		20040520

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CORNERSTONE STRATEGIC VALUE FUND INC/ NEW
		CENTRAL INDEX KEY:			0000814083
		IRS NUMBER:				133407699
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05150
		FILM NUMBER:		04821458

	BUSINESS ADDRESS:	
		STREET 1:		BEAR STEARNS FUNDS MANAGEMENT INC.
		STREET 2:		383 MADISON AVENUE - 23RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10179
		BUSINESS PHONE:		2122722093

	MAIL ADDRESS:	
		STREET 1:		BEAR STEARNS FUNDS MANAGEMENT INC.
		STREET 2:		383 MADISON AVENUE - 23RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10179

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLEMENTE STRATEGIC VALUE FUND INC
		DATE OF NAME CHANGE:	19990622

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLEMENTE GLOBAL GROWTH FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>t301057.txt
<DESCRIPTION>SHAREHOLDER LETTER
<TEXT>





CORNERSTONE STRATEGIC VALUE FUND, INC.

                                                  383 Madison Avenue, 23rd Floor
                                                        New York, New York 10179
                                                                  (800) 870-0658


Dear Fellow CLM Stockholder:

                         PLEASE VOTE YOUR SHARES TODAY.
                         ------------------------------

                    YOUR FUND'S MEETING IS ON JUNE 10, 2004.

              YOUR VOTE IS IMPORTANT FOR THE FUTURE OF YOUR FUND..

The proxy materials that you recently received describe the details of a merger
of two other closed-end funds into your fund, CLM. Your Board of Directors
recommends that you approve these two merger proposals.

THESE MERGERS OFFER SIGNIFICANT BENEFITS TO CLM STOCKHOLDERS, INCLUDING:

 >       SIGNIFICANTLY LARGER ASSET BASE
 >       GREATER ECONOMIES OF SCALE FOR OPERATIONS AND EXPENSES
 >       IMPROVED OPERATING EXPENSE RATIO
 >       ENHANCED MARKET LIQUIDITY
 >       POTENTIAL IMPROVED TAX BENEFITS
 >       BROADER PORTFOLIO DIVERSIFICATION
 >       LOWER EXPENSES FROM BETTER MANAGEMENT FEE WAIVER

AND REMEMBER:

|X|      CLM STOCKHOLDER VALUE IS NOT DILUTED
|X|      REGULAR DISTRIBUTIONS CONTINUE
|X|      INVESTMENT OBJECTIVES REMAIN UNCHANGED


                VOTE FOR A LARGER, STRONGER, MORE EFFICIENT FUND.

           PLEASE USE THE ENCLOSED BALLOT TO VOTE "FOR" ALL PROPOSALS,
               OR REGISTER YOUR VOTE ON-LINE AT WWW.PROXYVOTE.COM,
             OR VOTE BY CALLING THE TOLL-FREE NUMBER ON YOUR BALLOT.


CLM has engaged InvestorCONNECT, a professional proxy solicitor, to assist
shareholders throughout the voting process. If you should have any questions
regarding this proxy material, contact InvestorCONNECT at (800) 870-0658.

YOUR BOARD OF DIRECTORS BELIEVES THAT THESE MERGERS ARE IN THE BEST INTERESTS OF
CLM STOCKHOLDERS AND RECOMMENDS THAT YOU VOTE "FOR" ALL PROPOSALS.


Respectfully,
Ralph W. Bradshaw, President


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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