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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001111830-10-001042.txt : 20101105
<SEC-HEADER>0001111830-10-001042.hdr.sgml : 20101105
<ACCEPTANCE-DATETIME>20101105160932
ACCESSION NUMBER:		0001111830-10-001042
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20101105
DATE AS OF CHANGE:		20101105
EFFECTIVENESS DATE:		20101105

FILER:

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

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-168927
		FILM NUMBER:		101168917

	BUSINESS ADDRESS:	
		STREET 1:		ULTIMUS FUND SOLUTIONS, LLC
		STREET 2:		350 JERICHO TURNPIKE, SUITE 206
		CITY:			JERICHO
		STATE:			NY
		ZIP:			11753
		BUSINESS PHONE:		(646) 881-4985

	MAIL ADDRESS:	
		STREET 1:		ULTIMUS FUND SOLUTIONS, LLC
		STREET 2:		350 JERICHO TURNPIKE, SUITE 206
		CITY:			JERICHO
		STATE:			NY
		ZIP:			11753

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CORNERSTONE STRATEGIC VALUE FUND INC/ NEW
		DATE OF NAME CHANGE:	20010503

	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>497
<SEQUENCE>1
<FILENAME>clm_497.htm
<DESCRIPTION>CORNERSTONE STRATEGIC VALUE FUND, INC. - 497
<TEXT>
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    <title>clm_497.htm</title>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt; FONT-WEIGHT: bold">&#160;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt; FONT-WEIGHT: bold">FOR IMMEDIATE RELEASE</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">Contact: (513) 326-3597</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Cornerstone Strategic Value Fund,&#160;Inc. Announces the Commencement of Its Rights Offering</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">JERICHO, NEW YORK, November 5, 2010 &#8212; Cornerstone Strategic Value Fund,&#160;Inc. (the &#8220;Fund&#8221;) (NYSE Amex: CLM) announced today that the subscription period for its rights offering to holders of the Fund&#8217;s common stock will commence on Monday, November 8, 2010.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">The Fund is issuing to its stockholders non-transferable rights entitling the holders to subscribe for an aggregate of approximately 2,352,095 shares of the Fund&#8217;s common stock. Each stockholder is to be issued one right for each whole share of the Fund&#8217;s common stock owned on the record date, November 1, 2010.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">The rights entitle stockholders to acquire one share for each three rights held. The subscription period will commence on Monday, November 8, 2010, and will expire at 5:00&#160;p.m., New York time, on December 10, 2010, unless extended (the &#8220;Expiration Date&#8221;).&#160;&#160;The actual subscription price per share, as determined on the Expiration Date, will be the greater of (i) 102% of NAV per Share as calculated at the close of trading on the date of expiration of the Offering and (ii) 90% of the market price per Share at such time.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">Cornerstone Strategic Value Fund, Inc. is a diversified, closed-end management company organized as a Maryland corporation and is registered with the SEC under the Investment Company Act of 1940, as amended.&#160;The Fund is listed on the NYSE Amex under the ticker symbol &#8220;CLM&#8221;.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">For further information regarding the Fund&#8217;s rights offering, or to obtain a Prospectus, please contact The Altman Group, the Fund&#8217;s Information Agent,<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">&#160;</font>toll free at (800) 581-4001.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt">***</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt; FONT-WEIGHT: bold">This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Please consider the Fund&#8217;s investment objective, risks and charges and expenses carefully before investing. The prospectus, which contains this and other information about the Fund, can be obtained by calling (800) 581-4001 and should be read carefully before investing.</font></div>
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