-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 UBTBF2VLLwjlOc6E6ypUayzVCw7GBO8cWxkoyYr+GPj4as83ZkitdZC7JwxDRCLH
 c13Db9tajzmERr8ONk0AYg==

<SEC-DOCUMENT>0000913662-08-000008.txt : 20080229
<SEC-HEADER>0000913662-08-000008.hdr.sgml : 20080229
<ACCEPTANCE-DATETIME>20080229132232
ACCESSION NUMBER:		0000913662-08-000008
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20071231
FILED AS OF DATE:		20080229
DATE AS OF CHANGE:		20080229
EFFECTIVENESS DATE:		20080229

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:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05150
		FILM NUMBER:		08654183

	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>NSAR-B
<SEQUENCE>1
<FILENAME>ans.fil
<TEXT>
<PAGE>      PAGE  1
000 B000000 12/31/2007
000 C000000 0000814083
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 CORNERSTONE STRATEGIC VALUE FUND, INC.
001 B000000 811-05150
001 C000000 2122723550
002 A000000 383 MADISON AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10179
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 CORNERSTONE ADVISORS, INC.
008 B000001 A
008 C000001 801-60024
008 D010001 ASHEVILLE
008 D020001 NC
008 D030001 28801
010 A000001 BEAR STEARNS FUNDS MANAGEMENT INC.
010 B000001 801-29862
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10179
012 A000001 AMERICAN STOCK TRANSFER & TRUST CO.
012 B000001 85-0001
012 C010001 NEW YORK
012 C020001 NY
012 C030001 10038
013 A000001 TAIT, WELLER & BAKER, LLP
013 B010001 PHILADELPHIA
013 B020001 PA
<PAGE>      PAGE  2
013 B030001 19103
015 A000001 CUSTODIAL TRUST COMPANY
015 B000001 C
015 C010001 PRINCETON
015 C020001 NJ
015 C030001 08540
015 E030001 X
018  000000 Y
019 A000000 Y
019 B000000    3
019 C000000 CORNERSTON
020 A000001 E*TRADE SECURITIES LLC
020 B000001 35-2167612
020 C000001     46
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       46
022 A000001 BEAR, STEARNS & CO.
022 B000001 13-3299429
022 C000001     23735
022 D000001     23233
022 C000002         0
022 D000002         0
022 C000003         0
022 D000003         0
022 C000004         0
022 D000004         0
022 C000005         0
022 D000005         0
022 C000006         0
022 D000006         0
022 C000007         0
022 D000007         0
022 C000008         0
022 D000008         0
022 C000009         0
022 D000009         0
022 C000010         0
022 D000010         0
023 C000000      23735
023 D000000      23233
024  000000 N
025 D000001       0
025 D000002       0
<PAGE>      PAGE  3
025 D000003       0
025 D000004       0
025 D000005       0
025 D000006       0
025 D000007       0
025 D000008       0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 Y
026 H000000 N
027  000000 N
028 A010000         0
028 A020000         0
028 A030000         0
028 A040000         0
028 B010000         0
028 B020000         0
028 B030000         0
028 B040000         0
028 C010000         0
028 C020000         0
028 C030000         0
028 C040000         0
028 D010000         0
028 D020000         0
028 D030000         0
028 D040000         0
028 E010000         0
028 E020000         0
028 E030000         0
028 E040000         0
028 F010000         0
028 F020000         0
028 F030000         0
028 F040000         0
028 G010000         0
028 G020000         0
028 G030000         0
028 G040000         0
028 H000000         0
030 A000000      0
030 B000000  0.00
030 C000000  0.00
031 A000000      0
031 B000000      0
032  000000      0
<PAGE>      PAGE  4
033  000000      0
035  000000      0
036 B000000      0
038  000000      0
042 A000000   0
042 B000000   0
042 C000000   0
042 D000000   0
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000   0
043  000000      0
044  000000      0
045  000000 Y
046  000000 N
047  000000 Y
048  000000  1.000
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
049  000000 N
050  000000 N
051  000000 N
052  000000 N
053 A000000 Y
053 B000000 Y
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
<PAGE>      PAGE  5
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056  000000 N
057  000000 N
058 A000000 N
059  000000 Y
060 A000000 Y
060 B000000 Y
061  000000        9
062 A000000 N
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
062 E000000   0.0
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   0.0
062 M000000   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000   0.0
062 Q000000   0.0
062 R000000   0.0
063 A000000   0
063 B000000  0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067  000000 N
068 A000000 N
068 B000000 N
069  000000 N
070 A010000 Y
<PAGE>      PAGE  6
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 Y
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000     13516
071 B000000     36126
071 C000000    130149
071 D000000   10
072 A000000 12
072 B000000       46
072 C000000     2630
072 D000000        0
072 E000000       51
072 F000000     1306
072 G000000      131
072 H000000        0
072 I000000       18
072 J000000       22
072 K000000        0
072 L000000       61
<PAGE>      PAGE  7
072 M000000      107
072 N000000       17
072 O000000        0
072 P000000        0
072 Q000000       39
072 R000000       21
072 S000000       28
072 T000000        0
072 U000000        0
072 V000000        0
072 W000000        8
072 X000000     1758
072 Y000000      151
072 Z000000     1121
072AA000000     8529
072BB000000        0
072CC010000        0
072CC020000     2453
072DD010000     3365
072DD020000        0
072EE000000     6266
073 A010000   0.1300
073 A020000   0.0000
073 B000000   0.2400
073 C000000   0.7500
074 A000000        0
074 B000000     4346
074 C000000        0
074 D000000        0
074 E000000        0
074 F000000   119166
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000        0
074 K000000        0
074 L000000      174
074 M000000        2
074 N000000   123688
074 O000000        0
074 P000000      123
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000     3297
074 S000000        0
074 T000000   120268
074 U010000    26557
074 U020000        0
074 V010000     4.53
<PAGE>      PAGE  8
074 V020000     0.00
074 W000000   0.0000
074 X000000      619
074 Y000000        0
075 A000000        0
075 B000000   130598
076  000000     5.05
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078  000000 N
080 A000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000     1525
081 A000000 Y
081 B000000   2
082 A000000 Y
082 B000000        0
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
086 A010000    914
086 A020000   5809
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
087 A010000 CORNERSTONE STRATEGIC VALUE FUND, INC.
087 A020000 21924B104
087 A030000 CLM
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE   GARY A. BENTZ
TITLE       SECRETARY

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>opinion.txt
<TEXT>

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Shareholders and 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., (the Fund), for the period
ended December 31, 2007, in accordance with the standards of the
Public Company Accounting Oversight Board (United States), we
considered its internal control over financial reporting, including
control activities for safeguarding securities, as a basis for
designing our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements
of Form N-SAR, but not for the purpose of expressing an opinion on the
effectiveness of Funds internal control over financial reporting.
Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by management
are required to assess the expected benefits and related costs of controls.
A companys internal control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles.  A companys
internal control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of
financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being
made only in accordance with authorizations of management and directors
of the company; and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use or disposition of a
companys assets that could have a material effect on the financial
statements.

Because of inherent limitations, internal control over financial reporting
may not prevent or detect misstatements.   Also, projections of any
evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in conditions, or that
the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees,
in the normal course of performing their assigned functions, to prevent or
detect misstatements on a timely basis.   A material weakness is a deficiency,
or combination of deficiencies, in internal control over
financial reporting, such that there is a reasonable possibility that a
material misstatement of the companys annual or interim financial
statements will not be prevented or detected on a timely basis.
Our consideration of the Funds internal control over financial reporting
was for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control that might
be material weaknesses under standards established by the Public Company
Accounting Oversight Board (United States).   However, we noted no
deficiencies in the Funds internal control over financial reporting
and its operation, including controls for safeguarding securities, which
we consider to be material weaknesses, as defined above, as of
December 31, 2007.

This report is intended solely for the information and use of management,
Shareholders and Board of Directors of Cornerstone Strategic Value 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.





		TAIT, WELLER & BAKER LLP

Philadelphia, Pennsylvania
February 26, 2008


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>3
<FILENAME>bylaws_amend.txt
<TEXT>
Amended Cornerstone Strategic Value Fund, Inc. By-Laws
(Article VII, Sections 7.01, 7.02 and 7.06)

ARTICLE VII
CAPITAL STOCK
Section 7.01	Certificate of Stock.

(a)	The shares of the Corporations stock shall be uncertificated,
and shall be entered in the books of the Corporation and registered as
they are issued, except that every holder of stock of the Corporation
shall be entitled to a certificate upon written request to the transfer
agent of the Corporation.

(b)	Any certificates representing shares of stock of the
Corporation shall
be in the form approved by the Board of Directors, signed in the name
of the Corporation by the President or any Vice President and by the
Treasurer or any Assistant Treasurer or the Secretary or an Assistant
Secretary, sealed with the seal of the Corporation and certifying the number
and kind of shares owned by the holder of stock in the Corporation; provided,
however, that certificates for fractional shares will not be
delivered in any case. Such signatures and seal may be a facsimile and may be
mechanically reproduced thereon. The certificates containing such facsimiles
shall be valid for all intents and purposes. [MGCL, 2 210, 2 211, 2 212]

(1)	In case any officer who shall have signed any such certificate, or
whose
facsimile signature has been placed thereon, shall cease to be such an
officer (because of death, resignation or otherwise) before such
certificate is issued, such certificate may be issued and delivered by the
Corporation with the same effect as if he were such officer at the date of
issue. [MGCL, 2 212(c)]
(2)	The number of each certificate issued, the name of the person owning
the shares represented thereby, the number of such shares and the date of
issuance shall be entered upon the stock books of the Corporation at the
time of issuance.
(3) 	Every certificate returned to the Corporation shall be marked
Cancelled with the date of cancellation.

(c)	Within a reasonable time after the issuance or transfer of
uncertificated stock, the Corporation shall send to holder of stock a
written statement that shall set forth the name of the Corporation, the name
of the stockholder, the class of stock and number of shares it represents,
and any restrictions on the transfer or registration of such shares of stock.


Section 7.02	Transfer of Capital Stock.

(a)	Transfers of shares of the stock of the Corporation shall be made on
the books of the Corporation by the holder of record thereof (in person or by
his attorney thereunto duly authorized by a power of attorney duly
executed in writing and filed with the Secretary of the Corporation) (i) if a
certificate or certificates have been issued, upon the
surrender of the certificate or certificates, properly endorsed or accompanied
by proper instruments of transfer, representing such shares, (ii)
upon the receipt of proper transfer instructions from the registered holder of
uncertificated shares, or (iii) as otherwise prescribed by the
Board of Directors.

(b)	The Corporation shall be entitled to treat the holder of record of
any share of stock as the absolute owner thereof for all purposes, including,
without limitation, the rights to receive dividends or other
distributions and to vote as the owner, and the Corporation shall not be
bound to recognize any legal, equitable or other claim or interest in such
share on the part of any other person, whether or not it shall have express or
other notice thereof, except as otherwise expressly provided by the
statutes of the State of Maryland.

Section 7.06	Lost Stolen or Destroyed Certificates.  Before issuing a new
certificate, or uncertificated shares, in place of any certificate or
certificates
previously issued by the Corporation alleged to have been lost,
stolen or destroyed, the Board of Directors or any officer authorized by the
Board may, in its discretion, require the owner of the lost, stolen or
destroyed certificate (or his legal representative) to give the Corporation
a bond or other indemnity, in such form and in such amount as the
Board or any such officer may direct and with such surety or sureties as may
be satisfactory to the Board or any such officer, sufficient to indemnify
the Corporation against any claim that may be made against it on account of
the alleged loss, theft or destruction of any such certificate or the
issuance of such new certificate, or uncertificated shares. Anything herein
to the contrary notwithstanding, the Board of Directors, in its
absolute discretion, may refuse to issue any such new certificate, except
pursuant to legal proceedings under the laws of the State of Maryland.
[MGCL, 2 213]

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
